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Russian entrepreneurs see stock go up in flames as Ukraine targets Wildberries
Russian fashion designer Viktoria Terekhova shipped virtually her entire summer collection of children's clothes last week to the giant warehouse of online retailer Wildberries at Elektrostal, east of Moscow.
AmEx raises 2026 revenue growth forecast as affluent cardholders keep spending
American Express increased its full-year revenue growth forecast and beat Wall Street expectations for second-quarter profit on Friday as its affluent customers continued to swipe their cards for travel and dining despite lingering economic uncertainty.
Wall St futures rise after tech rout; Mideast, tariffs in focus
U.S. stock index futures edged higher on Friday after a tech-led selloff in the previous session, as investors weighed fresh earnings, escalating Middle East tensions and a new tariff announcement from the Trump administration.
Euro zone business activity returns to growth in July for first time in four months, PMI shows
Euro zone business activity returned to growth in July for the first time in four months, driven by a rebound in new orders, even as high inflation and renewed conflict in the Middle East clouded the outlook, a survey showed on Friday.
UK says latest US tariffs mean "no negative change" for British businesses
Britain on Friday said the United States' latest decision to impose tariffs on its trading partners over allegations of lax enforcement of forced labour bans would have no negative effect on UK businesses.
Add a month at sea and $2.5 million - what it costs oil tankers to flee Hormuz and Bab el-Mandeb
With two of its key oil export routes - the Hormuz and Bab el- Mandeb straits - disrupted by Iran and Iran-allied Houthi militants, Saudi Arabia has to resort to exporting oil via Egypt's Suez Canal.
Alphabet's cash burn raises alarm for Big Tech as AI spending climbs
Alphabet's first cash burn on record has jolted investors awaiting more Big Tech results next week as soaring AI spending strains one of the world's most profitable companies, and the pain is only expected to increase.
Lazard profit plunges on elevated tax rate, financial advisory volatility
Investment bank Lazard reported a 91% plunge in second-quarter profit on Thursday, hurt by a higher tax rate and a drop in revenue in its financial advisory business.
China's Geely to make electric SUVs at Ford Spain plant, jointly develop model for Europe
Geely Auto will build two electric SUVs at Ford's factory in Spain and the two firms will jointly develop a new model, they said on Thursday, as rising Chinese automakers race to use traditional carmakers' underutilized factories and get ahead of European local-content rules.
French business confidence improves in July despite Middle East conflict, heatwaves
French business confidence rose to a four-month high in July despite a new flare-up in the U.S.-Israeli war on Iran and record heatwaves at home, a monthly survey showed on Thursday.
Nestle to raise €3 billion from spin off of its water business
Nestle said on Thursday it expects to raise around €3 billion ($3.43 billion) from spinning off its water business into a 50-50 joint venture with U.S. investment firm Platinum Equity.
UK PM Burnham cuts business rates bills for pubs, clubs and music venues
British Prime Minister Andy Burnham is slashing business rates bills for pubs, clubs and live music venues, Downing Street said on Thursday.
Macquarie investors back 'safe' insider CEO pick to keep bank on course
Australia's top investment bank Macquarie Group has appointed long-time insider Greg Ward to succeed CEO Shemara Wikramanayake, a choice investors said represented a "safe pair of hands" and confidence in the bank's current direction.
Asia's rich swap sponsorships for stakes in sports as dealmaking hits record
Asian wealthy families and fund managers are increasingly moving beyond sponsorships and charity-linked sporting events to invest directly in sports assets, betting that growing audiences and rising media-rights fees will drive longer term returns.
ESPN connecting Mariners to Astros' star trade chips is pure escapist entertainment
The Mariners need a quality reliever and right-handed bat, but it's tough to see the Astros being willing to do business with their main divisional rivals.
Teen plaintiff suing Meta over mental health harms drops his claims against company days before trial
A Florida teen whose lawsuit claimed Meta’s platforms were to blame for his depression and anxiety dropped his case against the company just days before the trial in Los Angeles was set to start, the company said.
Teen Plaintiff Suing Meta Over Mental Health Harms Drops His Claims Against Company Days Before Trial
By Diana Novak Jones July 22 (Reuters) - A Florida teen whose lawsuit claimed Meta’s platforms were to blame for his depression and anxiety dropped his case against the company just days before the trial in Los Angeles was set to start, his attorneys said on Wednesday. The lawsuit, brought ...
Alaska Air says underlying business strengthened despite fuel-hit quarter
Alaska Air Group returned to profitability in June with a double-digit pretax margin despite fuel prices running nearly 70% higher than a year earlier, CEO Ben Minicucci said on the carrier's quarterly earnings call on Wednesday.
US politicians pitch aviation, space business at Farnborough Airshow
The U.S. boosted the size of its pavilion at the Farnborough Airshow by 22% this year, and U.S. politicians were out in force, vying with European rivals for investment from aerospace, defence, and space companies as the industries boom.
Strange Milky Way planetary system leaves scientists puzzled
Scientists are documenting a planetary system in the Milky Way galaxy that is so starkly dissimilar to our own solar system that they are struggling to find the proper terminology to describe it.
Cyclosporiasis cases in Michigan climb to over 7,000, state health officials say
Michigan health officials reported 7,171 cases linked to an outbreak of cyclosporiasis on Wednesday, up 600 cases since its last update on Tuesday.
Nestle nears sale of water business stake at close to €5 billion valuation, FT reports
Private equity firm Platinum Equity is nearing a deal to acquire about a 50% stake in Nestle's European water business in a transaction that would value the joint venture at almost €5 billion ($5.71 billion), the Financial Times reported on Wednesday.
AMD to invest up to $5 billion in Anthropic, WSJ Reports
Advanced Micro Devices will invest up to $5 billion in Anthropic as part of a deal under which the AI startup will purchase up to 2 gigawatts of AMD's next-generation AI chips, the Wall Street Journal reported on Tuesday.
Biotech experts want FDA drug reviews based on science, not politics
Biotech experts and industry executives are calling plans by the U.S. Food and Drug Administration — hit by job cuts last year — to hire thousands of employees and update clinical-trial standards encouraging, but want assurance that politics will not interfere in the agency's drug-review process.
Biotech experts want FDA drug reviews based on science, not politics
Biotech experts and industry executives are calling plans by the U.S. Food and Drug Administration — hit by job cuts last year — to hire thousands of employees and update clinical-trial standards encouraging, but want assurance that politics will not interfere in the agency's drug-review process.
Biotech experts want FDA drug reviews based on science, not politics
July 22 (Reuters) - Biotech experts and industry executives are calling plans by the U. Food and Drug Administration — hit by job cuts last year — to hire thousands of employees and update clinical-trial standards encouraging, but want assurance that politics will not interfere in the agency's drug-review process.
US to spend $5 billion on health, construction research powered by AI
The U.S. will spend $5 billion to tackle long-standing scientific problems across multiple fields using AI, the Trump administration said in a statement on Wednesday.
US to spend $5 billion on health, construction research powered by AI
The U.S. will spend $5 billion to tackle long-standing scientific problems across multiple fields using AI, the Trump administration said in a statement on Wednesday.
US to Spend $5 Billion on Health, Construction Research Powered by AI
By Courtney Rozen WASHINGTON, July 22 (Reuters) - The U.S. will spend $5 billion to tackle long-standing scientific problems across multiple fields using AI, the Trump administration said in a statement on Wednesday. The agencies will use the funding to identify the root causes of chronic ...
Anthropic to donate $20 million to US political group that supports AI regulation
AI giant Anthropic will donate $20 million to a lobbying organization that supports AI regulation, according to a company statement released on Wednesday, its latest move to influence U.S. policy on the technology.
Anthropic to Donate $20 Million to US Political Group That Supports AI Regulation
WASHINGTON, July 22 (Reuters) - AI giant Anthropic will donate $20 million to a lobbying organization that supports AI regulation, according to a company statement released on Wednesday, its latest move to influence U.S. policy on the technology. The company is donating to Public First Action,
Poland, Hungary's foreign worker curbs create headache for business
Facing a choice between upsetting businesses and a public opinion backlash, the Polish and Hungarian ruling centrists are opting for curbs on foreign labour — something economists warn may hurt the two countries' growth prospects.
Poland, Hungary's Foreign Worker Curbs Create Headache for Business
By Gergely Szakacs, Canan Sevgili and Alan Charlish KISVARDA, Hungary/GDANSK, Poland, July 22 (Reuters) - Facing a choice between upsetting businesses and a public opinion backlash, the Polish and Hungarian ruling centrists are opting for curbs on foreign labour — something economists warn may ...
Scientists spot evidence of two huge companion stars that blew up
Unlike our sun, most of the largest stars in the cosmos are not solo acts, but rather are born together with another star in what is called a binary system, destined to spend their lives gravitationally bound in a cosmic marriage. But not even the best marriage — on Earth or in space — lasts forever.
US Health Secretary Kennedy says CMS is pausing Medicaid payments to California and Minnesota
The Trump administration is pausing over $1 billion in Medicaid payments to California and Minnesota "because of suspected fraud and noncompliance," U.S. Health Secretary Robert F. Kennedy, Jr. said on Tuesday.
US Health Secretary Kennedy Says CMS Is Pausing Medicaid Payments to California and Minnesota
July 21 (Reuters) - The Trump administration is pausing over $1 billion in Medicaid payments to California and Minnesota "because of suspected fraud and noncompliance," U.S. Health Secretary Robert F. Kennedy, Jr. said on Tuesday. "If those states want that money they need to ...
US Treasury's Bessent tells Fox Business 50% Canada tariffs are 'reciprocity'
U.S. Treasury Secretary Scott Bessent said on Tuesday that the 50% tariffs on a range of imports from Canada were "reciprocity" for trade actions by Ottawa on U.S. dairy, alcohol and beverages.
Bessent says China's Iranian oil purchases have decreased- Fox Business
U.S. Treasury Secretary Scott Bessent said on Tuesday that there has been a substantial decrease in China's purchases of Iranian oil.
Africa's top health official asks US to lift Ebola-related travel restrictions on Uganda
The head of Africa's top public health agency said he had written to U.S. Health Secretary Robert F. Kennedy Jr. asking him to lift Ebola-related travel restrictions on Uganda since the country has reported no new infections in about a month.
Marsh quarterly profit rises on strength in risk management business
Insurance brokerage Marsh reported a jump in second-quarter profit on Tuesday, as it benefited from robust demand for its risk management and consulting businesses.
In Gaza, a mother's hunt for water lays bare a worsening health crisis
In pre-dawn darkness, Ibtisam Al-Helou leaves her tent on Gaza's seafront on a daily search for fresh water. The Mediterranean lies only a few steps away, but the water she needs to cook, drink and wash will mean a trek across Gaza City.
Cardinal Health to buy AdaptHealth diabetes unit, Strive Medical for $360 million
Cardinal Health said on Monday it has agreed to buy AdaptHealth's diabetes health business and medical supply provider Strive Medical in separate deals for about $360 million in total, expanding its home care business.
Russian anti-war politician ends run for parliament, citing legal setbacks
Boris Nadezhdin, a Russian anti-war politician who had hoped to stand in parliamentary elections later this year, has announced he is ending his role in opposition politics for now, blaming what he said were politically-motivated legal setbacks.
Russian anti-war politician ends run for parliament, citing legal setbacks
July 20 (Reuters) - Boris Nadezhdin, a Russian anti-war politician who had hoped to stand in parliamentary elections later this year, has announced he is ending his role in opposition politics for now, blaming what he said were politically-motivated ...
Domino's misses quarterly sales, profit estimates on weak demand, competition
Domino's Pizza missed sales and profit estimates for the second consecutive quarter on Monday, underscoring pressure from weak demand, intensifying competition and macroeconomic uncertainty.
How PayPal went from Wall Street favorite to unwilling merger target
Five years ago PayPal was a Wall Street favorite and a leader in digital payments. Since then the stock has plunged, Apple Pay dominates payment services in the U.S. and PayPal is facing a takeover bid it does not like. What happens next?
Live: Andy Burnham set to take over as Britain's prime minister, vows stable politics
Andy Burnham becomes Britain's seventh prime minister in a decade, promising to "rewire" the nation to focus more clearly on issues people care about.
Electric cars became cheaper in Germany despite rising average prices
Models of battery electric vehicles (BEVs) became more affordable in Germany between 2020 and 2025, data from research organizations the International Council on Clean Transportation and Fraunhofer ISI showed.
Brent oil tops $90 as US, Iran intensify attacks in Middle East
Oil prices jumped 3% on Monday, with Brent surpassing $90 a barrel, as the United States and Iran expanded attacks in the Middle East that have curbed energy shipments in the Strait of Hormuz.
Boeing on track for 2028 Air Force One delivery, costs rise
Boeing said on Sunday it remains on track to deliver two new Air Force One jets in 2028, but meeting that target will require additional spending on a program already years behind schedule and billions of dollars over budget.
Report: Reds Have Made It Known They're Open for Business Ahead of Trade Deadline
This is the right move.
Samsung Electronics America to reduce workforce by 739 in New Jersey, US WARN notice says
Samsung Electronics America is reducing its workforce by 739 in Englewood Cliffs, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) reviewed by Reuters.
CFM wins approval for jet engine durability boost
Jet engine maker CFM International said it had won U.S. and European approvals for an upgrade that would improve durability of engines used on Boeing 737 MAX jets.
US data center protests go national as backlash grows
Opponents of the rapid buildout of data centers plan to hold protests on Saturday in at least 125 locations across the United States, the first coordinated national effort to channel anger at the AI infrastructure expansion that has ramped up over the past year and roiled local politics.
Doctors question evidence behind Pentagon plan for testosterone screening
U.S. Defense Secretary Pete Hegseth this week ordered annual testosterone-deficiency screening for active-duty and reserve service members age 30 and older, which he says will help to maintain military readiness.
Marco Bassetti on why global entertainment still depends on local culture
In an age when viewers can drift from TikTok to Netflix to YouTube within minutes, the World Cup remains a rare thing: a live event that can capture the attention of a huge, simultaneous worldwide audience. Banijay Live, part of Banijay Entertainment that is behind hit TV franchises including "MasterChef," "Big Brother," and "The Traitors," is producing the tournament's closing ceremony on July 19 at the New York New Jersey Stadium. Marco Bassetti, its chief executive, says earning that kind of global attention is harder than ever — and keeping it depends on understanding local culture.
Abbott investigates two separate cyber incidents, says no operations affected
Abbott Laboratories is investigating two cyber incidents involving unauthorized access to some internal systems at its cancer diagnostics business and its LabCentral portal, the company said on Friday, adding that its operations were not affected.
Fed rate-hike voices swell before July decision, rates still seen on hold
Cleveland Fed President Beth Hammack on Friday added her voice to a small but growing chorus of policymakers arguing the Fed may need to raise short-term borrowing costs to deal with persistently high inflation, setting up a charged debate at the central bank's July 28-29 meeting.
Walmart names Kinnard to replace departing US COO Shanahan, memo shows
Kieran Shanahan, chief operating officer of Walmart's U.S. operations, is leaving the retailer and will be replaced by the company's international division COO, Kyle Kinnard, an internal memo showed on Friday, amid a major management rejig under CEO John Furner.
US regional banks brush off war jitters with lending surge, fee boost
U.S. regional banks including U.S. Bancorp and PNC Financial relied on a lending rebound and strong fee income to deliver broad second-quarter gains, alleviating concerns that the Middle East war would weigh on loan demand and spending.
US manufacturing output unchanged in June, but accelerates in second quarter
U.S. factory production was unchanged in June, but grew at a robust pace in the second quarter, driven by an artificial intelligence build-up and businesses accumulating inventory in anticipation of shortages and higher prices due to the war in the Middle East.
Latvia in talks with strategic investor for ailing airBaltic, PM says
The Latvian government is negotiating with a strategic investor for struggling state-controlled airBaltic, Prime Minister Andris Kulbergs told Reuters, as the carrier seeks to shore up its finances and avert the risk of a default.
EU plans measures to help EU banks build scale and compete with US rivals
The European Commission aims to limit political interference in European Union banking mergers and remove obstacles to cross-border banking within the bloc to allow EU banks to compete more effectively against larger U.S. rivals.
Fifth Third reports rise in quarterly profit on higher interest income
Fifth Third Bancorp reported a rise in second-quarter profit on Friday, helped by higher net interest income and fee growth in capital markets and wealth management businesses.
SpaceX IPO earns millions for US Small Business Administration head Kelly Loeffler
U.S. Small Business Administration head Kelly Loeffler multiplied the value of her investment in Elon Musk's SpaceX after she was nominated for the job, earning millions of dollars from the company's record initial public offering, a Reuters review of her financial disclosures showed.
"Lacks excitement": Netflix tumbles 9% as weak earnings forecast deepens doubts over growth
Netflix's shares tumbled 9.2% before the bell on Friday following another weaker-than-expected earnings forecast from the streaming major, deepening doubts about its ability to sustain growth momentum.
Russian blogger who criticised Putin and the war has been detained, TASS reports
Russian blogger Ilya Remeslo, who criticised President Vladimir Putin and the war in Ukraine, has been detained on suspicion of spreading false information about the armed forces, state news agency TASS reported on Friday.
Explainer: The serious health risks posed by wildfire smoke
Massive wildfires are raging around the world during unprecedented heatwaves, blanketing millions of people under pungent haze caused by smoke carrying noxious gases and particulate matter that pose serious health risks.
US business inventories increase moderately in May as sales accelerate
U.S. business inventories increased moderately in May amid continued strength in sales, pushing the inventories-to-sales ratio to the lowest level since late 2021.
Mensah Explains Shocking Duke Exit: 'Business Is Business'
Darian Mensah publicly spoke on his dramatic transfer from Duke.
Americans are angry about data centers. Politicians are feeling the pressure
From Michigan Avenue, Saline Township looks like any other farming community, with its corn and soybean fields, silos and grain elevators.
'Crisis' in youth sports comes into focus after early US World Cup exit
Another early World Cup exit underscores a fractured youth sports culture in the United States, as the nation hopes to catch up with footballing powerhouses that have no clogs in their talent pipeline.
Ukraine's parliament to elect new government amid outcry over defence chief
Ukrainian lawmakers will vote on a new wartime government on Thursday amid popular protests over the dismissal of reformist Defence Minister Mykhailo Fedorov at a critical point in Kyiv's conflict with Moscow.
Wall Street banks enjoy record windfalls from prime brokerage business
Wall Street's prime brokerage engine is humming and delivering handsome gains for the largest U.S. banks.
Five cloud business groups urge EU interim measures against Broadcom
The Cloud Infrastructure Services Providers in Europe (CISPE) has joined forces with four other trade groups to urge EU antitrust regulators to suspend some business practices of U.S. chipmaker Broadcom , according to a joint letter seen by Reuters.
UK's Reform Calls for 'Full Security' for Lawmakers After Politician's Murder
LONDON, July 15 (Reuters) - Britain's populist Reform UK called on Wednesday for all lawmakers to be given "full security" if they want it after the murder of Ann Widdecombe, a prominent member of the party led by veteran Brexit campaigner, Nigel Farage. At a news conference, Zia Yusuf,
Elevance raises annual profit forecast on better medical cost management
Elevance Health raised its annual profit forecast after beating second-quarter earnings estimates on Wednesday, as it looks to keep medical costs in check.
China's Sinopec establishes four business units in major overhaul, officials say
Sinopec is launching a major internal restructuring, setting up new business units and relocating hundreds of staff, as the world's biggest refiner seeks to lift profits amid flagging Chinese oil and petrochemicals demand, company officials said.
JPMorgan expands EMEA corporate banking business in latest push on regional rivals
By Lawrence White LONDON, July 15 (Reuters) - JPMorgan has launched an expansion of its corporate banking business in Europe, the Middle East and Africa as it seeks to grow income and claim market share from regional and domestic lenders, James Roddy, ...
JPMorgan expands EMEA corporate banking business in latest push on regional rivals
JPMorgan has launched an expansion of its corporate banking business in Europe, the Middle East and Africa as it seeks to grow income and claim market share from regional and domestic lenders, James Roddy, head of global corporate banking at the U.S. lender, told Reuters.
India's ICICI Prudential Life reports quarterly profit jump on strong premium growth
ICICI Prudential Life Insurance reported a 27.8% rise in first-quarter profit on Wednesday, supported by strong premium growth from its high-margin products.
Sweden's Neko Health raises $700 million ahead of US launch
Stockholm-based Neko Health, a technology firm focused on the prevention and early detection of disease, said on Wednesday it has raised $700 million in a Series C funding round ahead of the launch of its first U.S. clinic later this year.
Stripe, Advent offer to buy PayPal for more than $53 billion, sources say
Payments company Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings Inc for $60.50 per share, in a deal that would value the payments company at more than $53 billion, two people familiar with the matter said.
Yum shares fall after report US health authorities investigating Taco Bell in cyclosporiasis outbreak
Yum Brands' shares fell as much as 4.5% on Tuesday after the Washington Post reported federal and state health officials were investigating whether lettuce served at Taco Bell may have been associated with an outbreak of cyclosporiasis, an intestinal illness.
Fender escalates Stratocaster copyright fight, taking aim at Yamaha
Fender, the U.S. maker of the iconic Stratocaster electric guitar played by Jimi Hendrix and Eric Clapton, has widened its legal campaign to defend the guitar's design with a notice letter sent to Yamaha , the Japanese company told Reuters.
Thomson Reuters to Sell Stake in Legal, Tax Business to KKR
Thomson Reuters Corp. agreed to sell a 51% stake in its legal and tax publishing business to investment firm KKR & Co. in a $500 million deal.
IBM forecasts preliminary Q2 revenue below estimates as spending shifts to AI
IBM's preliminary second-quarter revenue forecast came below Wall Street estimate on Tuesday, as customers prioritized spending on AI infrastructure, including servers, storage and memory purchases, sending its shares slumping 17% in premarket trading.
Thomson Reuters to sell 51% stake in Global Print business to KKR for $500 million
Thomson Reuters said it would sell a 51% stake in its Global Print business to KKR for about $500 million and form a venture with the private equity firm that would hold exclusive license to distribute its content in print and digital books.
Pound marches higher as investors focus on UK politics
The pound rose against the dollar on Tuesday as investors took profits after the U.S. currency's recent climb to more than one-year highs ahead of key U.S. inflation data later in the day, while holding steady against the euro.
Wells Fargo profit jumps on interest income boost
Wells Fargo's profit jumped in the second quarter as its income from interest payments rose.
US small-business sentiment rebounds in June, inflation a major worry for many
WASHINGTON, July 14 (Reuters) - U.S. small-business sentiment increased in June, but the share of owners reporting that inflation was their "single most important" problem was the highest in nearly two years, and more said they had raised average selli...
US small-business sentiment rebounds in June, inflation a major worry for many
U.S. small-business sentiment increased in June, but the share of owners reporting that inflation was their "single most important" problem was the highest in nearly two years, and more said they had raised average selling prices.
German retailers warn of worsening business conditions as costs rise
German retailers are facing worsening business conditions as rising energy, labour and purchasing costs squeeze profits while sales remain weak, the German Retail Association (HDE) said on Tuesday, urging the government to act quickly.
Pesticide makers stack wins against US environmental, public health groups
The U.S. Supreme Court handed a major legal victory to German agrichemical and pharmaceutical company Bayer last month when it reined in thousands of lawsuits accusing the German company of failing to warn users that glyphosate, the active ingredient in its Roundup weedkiller, causes cancer.
India seeks to quash Adani airport's nicotine pouch court challenge citing illegality, health risk
The Indian government has argued the airport sale of nicotine pouches is a "substantive violation" of drug laws and a "serious public health risk", seeking to throw out Adani Group's bid to overturn an official finding that it broke the law by selling the unlicensed products at Mumbai's airport.
India's TCS rejigs leadership team, creates new business units
Tata Consultancy Services announced a top-level leadership reshuffle and formed five new business units focused on growth in the U.S. West Coast market and its ServiceNow practice as AI threatens to disrupt the $315 billion Indian IT sector.
US health watchdog expects $5.56 billion in recoveries and savings
The federal watchdog for the U.S. health department generated $5.56 billion in expected recoveries and projected savings over six months and barred 1,212 individuals and companies from federal programs, it said on Monday, even as its overall enforcement activity fell to the lowest level in two years.
US Health Watchdog Expects $5.56 Billion in Recoveries and Savings
By Ahmed Aboulenein WASHINGTON, July 13 (Reuters) - The federal watchdog for the U.S. health department generated $5.56 billion in expected recoveries and projected savings over six months and barred 1,212 individuals and companies from federal programs, it said on Monday, even as its overall ...
TSMC to add 2 advanced chip packaging plants in Chiayi, Taiwan minister says
Taiwan Semiconductor Manufacturing Co (TSMC) will add two advanced chip packaging plants in the Chiayi Science Park, the island's science and technology minister said on Sunday.