In an effort to assuage investors’ concerns that it is losing ground to a recently revived Huawei Technologies and other local smartphone makers, Apple announced on Thursday( Nov 2 ) that demand for its iPhones in China was strong. In an interview with Reuters, Chief Executive Tim Cook stated that”Continue Reading
BEIJING: China’s financial regulator is beefing up capital rules for banks to combat financial risks, the National Financial Regulatory Administration said in a statement on Wednesday (Nov 1). The move, which will come into effect on Jan 1, aims to help banks improve risk management and better serve the economy,Continue Reading
BEIJING: China’s Vice Minister of Science and Technology Wu Zhaohui will lead a delegation to Wednesday’s (Nov 1) artificial intelligence (AI) security summit in Britain, Chinese state television said, confirming an earlier report by Reuters. Reuters reported on Monday that Wu would attend, and that he would be joined byContinue Reading
TOKYO: The Bank of Japan announced a minor tweak to its unconventional policy of controlling government bond yields on Tuesday (Oct 31), stopping short of expectations and sending the yen lower. While most other major central banks have hiked interest rates in a bid to tame prices, the BoJ hasContinue Reading
“We do not comment on market rumours,” a GlobalFoundries spokesperson said when asked about subsequent contacts. PSMC did not reply to a request for comment. Industry officials said meetings at this stage were mostly to test interest and discuss potential incentives and subsidies, including power supplies, infrastructure and the availabilityContinue Reading
BEIJING: China’s manufacturing activity unexpectedly contracted in October, an official factory survey showed on Tuesday (Oct 31), underlining the challenge facing policymakers trying to engineer a durable economic recovery. Recent indicators pointed to encouraging signs of stabilising in the world’s second-largest economy, supported by a flurry of policy support measures,Continue Reading
TOKYO: Japan’s factory output rose much less than expected in September, government data showed on Tuesday (Oct 31), as demand slowed significantly, adding to uncertainty hanging over the export-reliant economy’s outlook. Industrial output rose 0.2 per cent in September from the previous month, data from the Ministry of Economy, TradeContinue Reading
SEOUL: Samsung Electronics on Tuesday (Oct 31) flagged a gradual recovery in demand in 2024 after reporting its highest quarterly profit so far this year, as the battered memory chip market began showing signs of a rebound from a severe downturn. The proliferation of on-device artificial intelligence (AI) functions willContinue Reading
JAKARTA: Indonesia’s financial sector is in good condition, the regulator’s chief said on Monday (Oct 30), amid high US interest rates and rising geopolitical risks. Ample liquidity in the market and a well-managed risk profile showed the sector was stable, said Financial Services Authority (OJK) chief Mahendra Siregar. “There isContinue Reading
NEW YORK: The founder of the world’s biggest chipmaker, Morris Chang, said on Thursday (Oct 26) that increasing tensions over technology between the United States and China will slow down the global chip industry. Chang, who founded Taiwan Semiconductor Manufacturing Co in the late 1980s, made the remarks at anContinue Reading