By Josh Ye, David Kirton and Chen Lin HONG KONG/SHENZHEN, China (Reuters) – Psst! Where can a Chinese buyer purchase top-end Nvidia AI chips in the wake of U.S. sanctions? Visiting the famed Huaqiangbei electronics area in the southern Chinese city of Shenzhen is a good bet – in particular, the SEG Plaza skyscraper whose …
Inside China’s underground market for high-end Nvidia AI chips Read More »
BERLIN (Reuters) – Volkswagen subsidiary MAN Energy Solutions on Tuesday said it signed an agreement to sell its gas turbine business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT), as the company phases out its fossil fuel business. The Augsburg-based large diesel engines and turbomachinery maker said the decision to divest from the …
Volkswagen subsidiary MAN Energy Solutions sells gas turbine business to China’s CHGT Read More »
By Kane Wu and Yantoultra Ngui HONG KONG (Reuters) – Dealmaking in Southeast Asia and private equity transactions should help lift Asian mergers and acquisitions (M&A) activity in the second half of the year, bankers said, after deals volume in the first half slumped to the lowest in a decade. Total Asia M&A value for …
Southeast Asia, private equity deals seen underpinning Asia M&A in tough market Read More »
By Brenda Goh and Casey Hall SHANGHAI (Reuters) -Alibaba Group on Tuesday said its CEO and chairman Daniel Zhang will step down from the roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units. Zhang has been concurrently serving in three roles …
Alibaba CEO and Chairman Zhang to step down to focus on cloud business Read More »
By Joanna Plucinska and Valerie Insinna PARIS (Reuters) – India dominated the Paris Airshow for a second day on Tuesday, as Air India finalised a huge order for 470 planes from Airbus and Boeing. The agreement, when sketched out in February, was the largest ever plane deal by number of aircraft. But it was surpassed …
Paris air show: India centre stage as another big jet deal lands Read More »
By Hyunsu Yim and Heekyong Yang SEOUL (Reuters) -Hyundai Motor will raise average annual investment in electrification by nearly two-thirds, spending $28 billion in the next decade, and further restructure its struggling China business as part of a strategy to boost electric vehicle (EV) sales. In its annual investor day on Tuesday, the South Korean …
Hyundai raises EV investment to $28 billion, to reduce China operations Read More »
BEIJING (Reuters) – China’s 2023 crude oil demand is expected to grow 3.5% to 740 million metric tons, slower than previously expected, according to an expert at China National Petroleum Corporation’s (CNPC) research arm on Tuesday. The state oil company’s Economic & Technology Research Institute (ETRI) had forecast 4.5% growth in demand in March. Speaking …
China 2023 oil demand growth seen slower at 3.5% on year – CNPC research Read More »
SEOUL (Reuters) – Hyundai Motor will consider making its vehicles more readily compatible with the charging standard Tesla is pushing for in North America, the South Korean automaker’s CEO said on Tuesday. Tesla’s Superchargers make up about 60% of available U.S. fast chargers and Ford and General Motors have in recent weeks struck deals with …
Hyundai to consider joining Tesla’s North American charging standard alliance Read More »
TAIPEI (Reuters) – Taiwan’s export orders fell for the ninth consecutive month in May, but fared better than expected as demand was seen picking up on the back of interest in artificial technology and other high performance computing products. The island’s export orders, a bellwether for worldwide technology demand, fell 17.6% from a year ago …
Taiwan May export orders fall for 9th month, find comfort in rising AI demand Read More »
(Reuters) – Alibaba Group said on Tuesday its CEO and chairman Daniel Zhang will step down from those roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units. The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba’s …
Quotes: Here’s what people are saying about Alibaba’s management reshuffle Read More »
