TAIPEI (Reuters) – Foxconn is planning to invest T$25 billion ($820 million) in the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle (EV) ambitions, the company said on Sunday. The company, formally called Hon Hai Precision Industry Co Ltd, said the investments in Kaohsiung will include plants for …
Foxconn plans $800 million investment in southern Taiwan Read More »
MANILA (Reuters) – The Philippine central bank may consider pausing its monetary tightening next month if April inflation does not accelerate, the bank’s governor said on Sunday. Bangko Sentral ng Pilipinas Governor Felipe Medalla said in a telephone message to Reuters that a pause in interest rate increases was possible “if the April CPI (consumer …
Philippine central bank may consider pausing rate rises if inflation slows Read More »
TOKYO (Reuters) – The Bank of Japan will likely modify or end its bond yield control policy due to increasing side-effects such as the hit to financial institutions’ profits, former deputy governor Hiroshi Nakaso told a newspaper interview published on Sunday. The massive stimulus deployed by Haruhiko Kuroda, whose term as governor ended on Saturday, …
Ex-BOJ deputy governor Nakaso predicts tweak or end to YCC -Nikkei Read More »
By Stephen Nellis (Reuters) – (This April 5 story has been corrected to clarify that Neuchips did not beat Qualcomm and Nvidia in one category of testing as it didn’t compete in the categories previously described, and Qualcomm’s results and rankings have been rectified in paragraphs 6-8) Artificial intelligence chips from Qualcomm Inc beat Nvidia …
Qualcomm, Nvidia spar for top spot in AI chip efficiency tests Read More »
MILAN (Reuters) – Italy’s biggest utility Enel said on Friday it agreed to sell its equity stakes in two Peruvian assets for $2.9 billion to China Southern Power Grid International (CSGI). Enel launched an asset sale plan in November that would narrow its focus to six core countries and cut its debt. At the end …
Enel agrees to sell two Peruvian assets to China’s CSGI for $2.9 billion Read More »
SHANGHAI (Reuters) – Tech giant Alibaba is seeking companies to test its Tongyi Qianwen AI chatbot, business publication STAR Market Daily reported on Friday, joining the rush to emulate the explosive success of ChatGPT. The free-to-use ChatGPT, a large language model (LLM) application created by Microsoft-backed OpenAI, was released to the public last November and …
China’s Alibaba invites businesses to trial AI chatbot – media Read More »
BEIJING (Reuters) -Douyin, the Chinese counterpart of TikTok, and internet giant Tencent have agreed to explore the joint promotion of short and long videos, in a thawing of frosty relations that has often been marked by lawsuits and public spats. Douyin, which like TikTok is owned by ByteDance, said in a statement it is now …
ByteDance’s Douyin and Tencent bury hatchet, reach video cooperation pact Read More »
By Tim Hepher and Sophie Yu PARIS/BEIJING (Reuters) – China and France will study the need for cargo planes and long-haul jets “in due course,” a joint statement said on Friday, following a state visit by French President Emmanuel Macron. The comments suggest a more muted stance on the prospect for significant orders of large …
China signals wait-and-see stance on big jet orders Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar strengthened on Friday after data showed an increase in jobs in the world’s largest economy last month, suggesting that the Federal Reserve may have to raise interest rates next month. Prior to the jobs report, the rate futures market had been betting that the Fed would …
Dollar firms as US jobs report backs Fed hike in May Read More »
BEIJING (Reuters) – China needs to “try every method” to stabilise its exports to developed countries, state media reported Premier Li Qiang as saying on Friday, signalling that the impact a global slowdown could have on the domestic economy remains a key concern. Trade flows to and from the world’s second-largest economy continued to trend …
China needs to ‘try every method’ to stabilise exports – state media Read More »
