TOKYO (Reuters) – Financial firm SBI Holdings said on Wednesday it would help Taiwan’s Powerchip Semiconductor Manufacturing Corp establish a factory in Japan as the country looks to revive its chip industry. SBI will establish a company to aid with planning and fundraising, including lobbying for government subsidies, and will help the chipmaker find a …
SBI Holdings to help Taiwan’s Powerchip build a plant in Japan Read More »
By Georgina Lee HONG KONG (Reuters) – The yuan has lost nearly 5% of its value against the dollar this year and in recent weeks China’s central bank has begun pushing back on the slide, fixing the currency’s daily trading band at stronger-than-expected levels. Some analysts suggest the stronger fixing is due to the “counter-cyclical …
Explainer-What’s behind the firmer-than-expected yuan fixings? Read More »
By Amy Lv and Brenda Goh BEIJING/SHANGHAI (Reuters) -Companies caught out by China’s decision to restrict exports of two metals widely used in semiconductors and electric vehicles were racing to secure supplies on Tuesday as some industry suppliers worried that curbs on rare earth exports could follow. Monday’s abrupt announcement of controls from Aug. 1 …
Beijing jabs in US-China tech fight with chip material export curbs Read More »
SAO PAULO (Reuters) – Chinese automaker BYD on Tuesday said it will invest 3 billion reais ($620.17 million) in a new industrial complex in northeastern Brazil, as it aims to boost local production to offer more competitive prices. The complex, made up of three plants, will be built in the Camacari industrial park in the …
China automaker BYD to invest $620 million in Brazil industrial complex Read More »
AMSTERDAM (Reuters) -The European Union must respond to new rules introduced by China requiring a license to export two metals widely used in semiconductor manufacturing, the Dutch government said on Tuesday. China’s decision affecting some gallium and germanium products announced July 3 is a response to recent export restrictions imposed on it by the U.S. …
Dutch foreign ministry: EU will respond to new Chinese export rules Read More »
By Echo Wang and Anirban Sen NEW YORK (Reuters) – China-founded online retailer Shein is working with at least three investment banks about a potential U.S. initial public offering, and has been in talks with the New York Stock Exchange and Nasdaq, people familiar with the matter said. Goldman Sachs, Morgan Stanley and JPMorgan Chase …
Shein in talks with banks and exchanges about U.S. IPO-sources Read More »
(Reuters) – The June 29 story on Shein has been withdrawn because it incorrectly stated that the China-founded online retailer had registered with U.S. regulators for an initial public offering. A new story will follow. STORY_NUMBER: L4N38L313 STORY_DATE: 29/06/2023 STORY_TIME: 1612 GMT
(Reuters) – China said on Monday it will impose export restrictions from Aug. 1 on some gallium and germanium products, metals used in computer chips and other products, to protect national security interests. Here are some facts about gallium and germanium: WHERE IS GERMANIUM FOUND? Germanium ores are rare and most germanium is a by-product …
Factbox-Where are germanium and gallium produced, what are they used for? Read More »
BENGALURU (Reuters) – Indian auto parts maker Samvardhana Motherson International (SMIL) said on Tuesday it will buy a majority stake in Japan-based auto-part maker Yachiyo Industry’s four-wheeler business from Honda Motor Co to expand its product range. The transaction is valued at 22.9 billion Japanese yen ($158.54 million) for a 100% stake in Yachiyo, SMIL …
India’s Samvardhana Motherson to buy majority stake in Honda’s unit Read More »
HANOI (Reuters) – Vietnamese Prime Minister Pham Minh Chinh on Tuesday asked the central bank to shift from stable monetary policies to “more flexible, loosening” ones as the manufacturing-led economy grapples with tepid growth amid a global demand downturn. Strength in the services sector helped the Southeast Asian country post faster economic growth in the …
Vietnam PM calls for looser monetary policies to fuel growth Read More »
