AFP

The head of one of China’s biggest property firms has been “taken away” by police, state-backed media reported Thursday, as a prolonged housing slump continues to hit the world’s second-largest economy.Zhu Jiusheng, CEO of Vanke, was “taken away by public security authorities”, the Economic Observer reported, citing sources.Hong Kong-listed Vanke, which is part-owned by the …

China property giant Vanke’s CEO ‘taken away’ by police: report Read More »

China said Thursday it would launch a probe into US exports of chips used in everything from cars to home appliances over concerns about alleged dumping and subsidies.Washington has expanded its efforts in recent years to curb exports of state-of-the-art chips to China, concerned that these can be used to advance Beijing’s military systems and …

China to probe US chips over dumping, subsidies Read More »

Online privacy campaigners said Thursday they had filed complaints in several European countries against six Chinese companies including TikTok, accusing them of “unlawfully” sending Europeans’ personal data to China.Prominent Austria-based privacy campaign group NOYB (None of Your Business) said it has lodged six complaints against TikTok, AliExpress, SHEIN, Temu, WeChat and Xiaomi — in its …

Chinese apps including TikTok hit by privacy complaints in Europe Read More »

Apple lost its status as the best selling smartphone brand in the crucial Chinese market last year, new data showed Thursday, with a pair of local rivals surpassing it with surging shipments.The California-based tech giant claimed a market share of 15 percent in the world’s number two economy, behind Huawei’s 16 percent and top-ranking Vivo’s …

Apple loses top spot in China smartphone sales to local rivals Read More »

Markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year.Strong earnings from Wall Street banking titans and a ceasefire deal between Israel and Hamas added to the optimistic mood on trading floors.Still, there remains a certain amount of …

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Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology.Taiwan Semiconductor Manufacturing Company is the world’s largest contract maker of chips that are used in everything from Apple’s iPhones to Nvidia’s cutting-edge artificial intelligence hardware.The firm said net profit for the …

Taiwan’s TSMC says net profit rose 57% in fourth quarter Read More »

Asian markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year.Strong earnings from Wall Street banking titans and a ceasefire deal between Israel and Hamas added to the optimistic mood on trading floors.Still, there remains a certain amount …

Asian stocks follow Wall St higher on welcome US inflation data Read More »

Beijing is hoping subsidies for rice cookers, microwave ovens and smartphones can boost sluggish spending and help the country weather an economic storm from incoming US president Donald Trump.Policymakers have struggled to get China’s billion-strong army of consumers to inject cash into the economy as a prolonged real estate crisis weighs on confidence.And last week, …

Chinese give guarded welcome to spending subsidies Read More »

The World Bank plans to loan cash-strapped Pakistan $20 billion over the coming decade to nurture its private sector and bolster resilience to climate change, Prime Minister Shehbaz Sharif said.Pakistan came to the brink of default in 2023, as a political crisis compounded shock from the global economic downturn and drove the nation’s debt burden …

World Bank plans $20 bn payout for Pakistan over coming decade Read More »

Speculation over Nintendo’s new console, a successor to the wildly popular Switch, reached a fever pitch Thursday with specialist media predicting an imminent announcement from the Japanese gaming giant.The Eurogamer website said it had heard “industry whispers” that the new gadget would be unveiled Thursday, the same date leaked by an influential podcaster.A reporter from …

Nintendo rumour mill in overdrive over new Switch Read More »