TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and a major supplier for Apple, said on Tuesday revenue in August fell 8% year-on-year but forecast a better business outlook ahead of new product releases by major customer Apple. Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached …
Foxconn’s August sales drop 8% y/y, Q3 outlook better Read More »
By Julie Zhu, Kevin Huang, Yelin Mo and Roxanne Liu HONG KONG/BEIJING (Reuters) – China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts to catch up with the U.S. and …
Exclusive-China to launch new $40 billion state fund to boost chip industry, sources say Read More »
By Tetsushi Kajimoto and Takaya Yamaguchi TOKYO (Reuters) -Japan’s government ministries have requested a record 114.3 trillion yen ($778.40 billion) for next fiscal year’s budget, the finance ministry said on Tuesday, with rising fuel and utility costs adding to spending needs. The expected demands for the fiscal year starting April 2024 prompted a finance ministry …
Japan’s ministries seek record $778 billion budget for FY2024/25 Read More »
JAKARTA (Reuters) – Indonesia’s financial regulator (OJK) is considering making coal-fired power plants that supply electricity to electric vehicle battery manufacturers eligible for green financing, its chief said on Tuesday, drawing criticism from environmentalists. OJK chief Mahendra Siregar told reporters Indonesia’s “green taxonomy”, a framework defining what investment is considered environmentally friendly, is currently being …
By Victoria Waldersee MUNICH (Reuters) -Europe’s carmakers have a fight on their hands to produce lower-cost electric vehicles (EVs) and erase China’s lead in developing cheaper, more consumer-friendly models, executives said at Munich’s IAA mobility show. “We have to close the gap on costs with some Chinese players that started on EVs a generation earlier,” …
Europe’s carmakers fret over China’s EV prowess at Munich car show Read More »
(Reuters) – Huawei Technologies and China’s top chipmaker SMIC have built an advanced 7-nanometer processor to power its latest smartphone, according to a teardown report by analysis firm TechInsights. Huawei’s Mate 60 Pro is powered by a new Kirin 9000s chip that was made in China by Semiconductor Manufacturing International Corp (SMIC), TechInsights said in …
Teardown of Huawei’s new phone shows China’s chip breakthrough Read More »
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – Central banks across major developed and emerging economies took a breather in August with the pace and scale of interest rate hikes shifting another gear lower as diverging growth outlooks and inflation risks muddied the outlook ahead. August – often a more quiet month for monetary …
Central banks’ rate hike push slips into August lull, EM diverging Read More »
By Rishav Chatterjee (Reuters) -Hong Kong-listed skincare specialist L’Occitane International SA said on Monday its controlling shareholder had decided against a potential deal to take the company private, curbing speculation of a possible European listing. L’Occitane updated the market last month about a potential buyout offer from Chairman Reinold Geiger’s investment holding company, L’Occitane Groupe …
L’Occitane’s billionare owner decides against deal to take company private Read More »
JAKARTA (Reuters) – Capital A Berhad plans to more than double its fleet in Indonesia in the next three years to capture a growing tourism market after the COVID-19 pandemic, its chief executive Tony Fernandes said on Monday. AirAsia Indonesia, a unit of Capital A, currently has around 28 planes in its fleet. Fernandes told …
AirAsia Indonesia to more than double fleet in 3 years – parent company CEO Read More »
SHANGHAI/HONG KONG (Reuters) – Chinese developer Country Garden faces a call from some smaller onshore bondholders for the nullification of a deal to extend repayment of a bond, arguing it was unfair and illegal, according to sources and a document. Country Garden’s onshore bondholders approved its proposal for an extension on debt payments worth 3.9 …
Some Country Garden creditors object to debt payment deal – sources Read More »
