Asia Business

Chinese internet giant Baidu on Wednesday posted a quarterly revenue increase of three percent, as the firm seeks to grow its presence in artificial intelligence and expand its robotaxi business abroad.The Beijing-based firm operates China’s main search engine and has long been a key player in the domestic tech industry — but faces stiff competition …

China’s Baidu posts rise in Q1 revenue as seeks to grow AI presence Read More »

The number of foreign visitors to Japan soared 28.5 percent in April year-on-year to a record 3.91 million, official figures showed Wednesday.”Spring cherry blossom season boosted demand for visits to Japan in many markets, as in the previous month, and overseas travel demand increased in some Asian countries, in Europe, the US and Australia to …

Japan tourists soared 28.5% in April to record 3.9mn Read More »

South Korea’s exports fell 2.4 percent year-on-year in the first 20 days of May, partly due to weak sales to the United States after Washington imposed and then partly lifted sweeping tariffs, official data showed Wednesday.Last month, the country’s exports showed unexpected strength, lifted by robust semiconductor demand even as US tariffs weighed on trade.But …

South Korea exports fall on tariff woes Read More »

Beijing condemned on Wednesday new US warnings on the use of AI chips by Chinese tech giant Huawei, vowing it would take steps against “bullying” efforts to restrict access to high-tech semiconductors and supply chains.Washington has sought in recent years to curb exports of state-of-the-art chips to China, concerned that they could be used to …

China slams US ‘bullying’ over new warnings on Huawei chips Read More »

Beijing condemned on Wednesday new US warnings on the use of AI chips made in China, vowing it would take steps against “bullying” efforts to restrict access to high-tech semiconductors and supply chains.Washington has sought in recent years to curb exports of state-of-the-art chips to China, concerned that they could be used to advance Beijing’s …

China slams US ‘bullying’ over new chip warnings Read More »

European and Asian stocks closed higher on Tuesday while Wall Street equities retreated as markets monitored US Treasury yields amid worries about the US budget deficit.Major US indices spent the entire session in negative territory as the S&P 500 finished lower after six straight positive sessions.”The main driver is a consolidation day,” said Briefing.com analyst …

European stocks close higher as Wall Street dips Read More »

The EU said Tuesday that it was preparing to impose a two-euro ($2.25) flat fee on the billions of low-value packages that flood into the bloc each year, the great majority from China.Trade chief Maros Sefcovic told the European Parliament that e-commerce platforms would be expected to pay the levy per parcel, which aims to …

EU plans two-euro flat fee on small parcels from outside bloc Read More »

US President Donald Trump’s real estate company is seeking to build a tower in Ho Chi Minh City, Vietnamese officials said on Tuesday, with his son due to scout locations this week.Authorities in Vietnam’s southern business hub said in a statement they met a representative of the Trump Organization and its local partner, the Kinhbac …

Trump Organization eyes new tower in Vietnam, local authorities say Read More »

Chinese battery giant CATL ended its first day on the Hong Kong Stock Exchange more than 16 percent higher Tuesday, having raised US$4.6 billion in the world’s biggest initial public offering this year.A global leader in the sector, CATL produces more than a third of all electric vehicle (EV) batteries sold worldwide.The firm has been …

Battery giant CATL ends up more than 16% on Hong Kong debut Read More »

Chinese battery giant CATL, which soared on its Hong Kong debut Tuesday, is a domestic success story with a risk-taking founder and global ambitions — but has found itself in the crossfire of a superpower clash for tech dominance.CATL — whose shares are already traded in Shenzhen — raised more than US$4.6 billion from its …

CATL, China’s global battery champion with risk-taker at the helm Read More »