Asia Business

The shock entrance of DeepSeek in the race to develop advanced artificial intelligence has put the world on notice as to China’s innovation prowess, a high-ranking Beijing official said Thursday.The startup released a new version of its AI chatbot in January, sending shockwaves across global markets.DeepSeek wowed industry insiders with its apparent ability to rival …

DeepSeek success shows China’s ‘ability to innovate’: official Read More »

The Japanese owner of 7-Eleven announced on Thursday a raft of new measures to fend off a takeover by a Canadian rival, including a huge share buyback and an IPO of its US unit.The announcements are the latest twist in a saga that began last year, when Seven & i rebuffed a takeover offer worth …

7-Eleven owner seeks to fend off takeover with buyback, US IPO Read More »

Asian markets climbed on Thursday after US President Donald Trump announced a one-month tariff delay on auto imports from Mexico and Canada.The White House announced Wednesday an exemption on any autos coming through the North American neighbours’ free trade pact, after Trump held talks with the “Big Three” US automakers — Stellantis, Ford and General …

Asian markets rise on Trump auto tariff reprieve Read More »

Global stocks rallied on Wednesday, buoyed by Germany’s plan to massively boost spending on defense and a move by the White House to pause tariffs on auto imports from Mexico and Canada.In European trading, Frankfurt surged 3.4 percent after the likely next chancellor, Friedrich Merz, announced the spending plans in the hope of also reviving Europe’s …

Global stocks rally on German defense push, US pause on auto tariffs Read More »

Panamanian President Jose Raul Mulino on Wednesday accused his US counterpart Donald Trump of “lying” about Washington taking back the Panama Canal. “Once again, President Trump is lying. The Panama Canal is not in the process of recovery,” Mulino wrote on X.”I reject, on behalf of Panama and all Panamanians, this new affront to the truth …

Panama president says Trump ‘lying’ about reclaiming canal Read More »

British chip giant Arm Holdings signed an agreement with Malaysia on Wednesday to bolster the Southeast Asian country’s efforts to produce high-end semiconductors amid the US-China tech trade war.Malaysia is a key player in the vital chips sector but has been largely focused on packaging, assembly and testing services — the lower end of the …

Malaysia signs deal with Arm to bolster chip ambitions Read More »

China set an ambitious annual growth target of around five percent on Wednesday, vowing to make domestic demand its main economic driver as an escalating trade war with the United States hit exports.Beijing also announced a rare hike in fiscal funding, allowing its budget deficit to reach four percent this year as it battles stuttering …

China eyes five percent growth despite US trade war Read More »

Chinese lawmakers told AFP Wednesday they were confident in the country’s prospects despite a host of gnarly challenges, after a morning of meticulously choreographed fanfare at an annual political gathering in Beijing.Following the opening session of the National People’s Congress (NPC) in Beijing’s opulent Great Hall of the People, representatives emerged into Tiananmen Square, brightly …

‘China is strong’: lawmakers bullish despite ‘turbulent’ world Read More »

Taiwanese chip-making giant TSMC plans to invest a whopping $100 billion in the United States, after US President Donald Trump threatened to slap tariffs on overseas-made chips.Taiwan Semiconductor Manufacturing Co is the world’s biggest maker of the critical technology that has become the lifeblood of the global economy.This week’s announcement takes the total amount TSMC …

What TSMC’s $100 bn investment in the US means for Taiwan Read More »

China on Wednesday set an annual growth target of around five percent, vowing to make domestic demand its main economic driver as an escalating trade war with the United States hit Beijing’s exports.Beijing also announced a rare hike in fiscal funding, allowing its budget deficit to reach four percent this year as it battles stuttering …

China eyes 5 percent growth despite trade war Read More »