By Phuong Nguyen HANOI (Reuters) -Vietnam’s VinFast expects to sell as many as 50,000 electric vehicles (EVs) this year, an almost seven-fold increase over 2022 as it ramps up exports to North America and starts shipping to Europe, the company’s founder said on Wednesday. VinFast could hit break even as soon as the end of …
Vietnam EV maker VinFast sees sales boom, path to breakeven Read More »
By Katya Golubkova, Yuka Obayashi and Kate Abnett TOKYO (Reuters) – Japan’s energy companies were quick to embrace the G7’s support for natural gas investment in their statement last month but analysts caution that relying on the fossil fuel may open the companies up to long-term problems. Resource poor Japan, the world’s biggest buyer of …
Japan embraces G7’s gas support but companies may face long-term problems Read More »
By Maki Shiraki TOKYO (Reuters) – Japan is arranging subsidies that could be worth around 15 billion yen ($110 million) to South Korea’s Samsung Electronics Co for a chip facility it is considering setting up near Tokyo, a source with direct knowledge of the matter said. Samsung, the world’s largest maker of memory chips, would …
Japan arranging subsidies for Samsung chip facility -source Read More »
SHANGHAI/BEIJING (Reuters) – BYD Co Ltd may be China’s biggest electric vehicle maker by a country mile but it knows it lags rivals in autonomous driving, and has set up a new division and embarked on a huge hiring spree to rectify that shortcoming. Between 4,000 and 5,000 software engineers have been hired recently, BYD …
China’s BYD beefs up autonomous driving credentials with new unit, hiring spree Read More »
JAKARTA (Reuters) – Indonesia’s biggest Islamic lender Bank Syariah Indonesia (BSI) on Tuesday said it was working with regulators to bulletproof its cybersecurity after media reports that account details of 15 million customers were published online. The data breach, which one cybersecurity expert said was the country’s worst at a financial institution, is the latest …
Indonesia’s biggest Islamic bank says customer data safe amid reports of breach Read More »
By Georgina Lee HONG KONG (Reuters) – Banks in Hong Kong are rushing to raise deposit rates and attract retail money as a spurt in loan demand and investment outflows led to an abrupt tightening of cash conditions. The scramble to lure retail money marks a change for the city’s banks, most of which have …
Hong Kong banks hike deposit rates as cash conditions tighten Read More »
By Stephen Nellis (Reuters) -ON Semiconductor Corp is considering investing $2 billion in boosting production of silicon carbide chips that are widely used to help extend the range of electric vehicles, company executives said on Tuesday. Chief Financial Officer Thad Trent said during an analyst presentation the company is considering the expansion in either the …
ON Semiconductor mulls $2 billion investment in electric vehicle chip production Read More »
By Isla Binnie NEW YORK (Reuters) -Japanese investment bank Nomura has hired two investment bankers to lead its coverage of mobility and automotive clients in Europe and the United States through its sustainability-focused Greentech division. Former self-driving truck company executive Richard Hawwa started in San Francisco last week, and Alex Bleck will move to lead …
Nomura hires two bankers for clean transport technology deals Read More »
By Eduardo Baptista and Yuvraj Malik BEIJING (Reuters) – Baidu Inc’s experience in tailoring its search engine to Chinese regulatory requirements makes it confident its AI-driven chatbot won’t make mistakes on “important and sensitive topics”, the company said on Tuesday. On a call with analysts, Baidu CEO Robin Li said the company was waiting for …
China’s Baidu confident its AI chatbot won’t make mistakes on ‘sensitive topics’ Read More »
UNITED NATIONS (Reuters) – Global economic growth is projected to be 2.3% in 2023, up 0.4 percentage points from a January forecast, and the prediction for 2024 has dropped 0.2 percentage points to 2.5%, according to a United Nations report released on Tuesday. “Despite this uptick, the growth rate is still well below the average …
UN forecasts world economic growth of 2.3% in 2023, 2.5% in 2024 Read More »
