MANILA (Reuters) – The Philippine central bank has tightened the noose on large cash withdrawals, ordering banks to conduct “enhanced due diligence” for transactions exceeding 500,000 pesos ($8,748.75) in an effort to curb money laundering. The new rule comes amid a government-led anti-corruption crackdown on infrastructure projects, which has already resulted in the freezing of …
By Kitiphong Thaichareon and Orathai Sriring BANGKOK (Reuters) – Thailand’s central bank has intervened to slow the Thai currency’s movement, an assistant governor said on Friday after the baht rose to its strongest levels in four years, threatening the country’s struggling economy. “The central bank is closely monitoring and managing the movements of the baht during …
Thai central bank intervenes to slow currency moves, says official Read More »
BEIJING (Reuters) -Italy’s deputy prime minister talked up cooperation with China in the auto industry during an interview with state news agency Xinhua, even as Beijing faces scrutiny from the European Union over extending unfair subsidies to its carmakers. Matteo Salvini, who is also Italy’s transport minister, said “the two countries enjoy broad prospects for …
Italian deputy PM talks up autos ties with China amid EU trade tensions Read More »
By Kane Wu and Scott Murdoch (Reuters) – China’s Zijin Gold International, keen to make the most of bullish sentiment for the precious metal, is aiming to raise $3.2 billion in a Hong Kong IPO that is set to be the city’s largest in four years. Adding to a strong recovery for Hong Kong’s equity …
Zijin Gold seeks $3.2 billion in Hong Kong IPO as demand for the precious metal soars Read More »
By Hyunjoo Jin and Heekyong Yang SEOUL (Reuters) -South Korea’s LG Energy Solution was using workarounds to U.S. visa restrictions well before Donald Trump returned as president and his administration launched a massive crackdown that detained hundreds of LG workers, internal documents show. LG Energy Solution’s reliance on a visa waiver programme started under Trump’s …
BEIJING (Reuters) – Xiaomi will issue a software update for over 115,000 of its popular SU7 electric sedans to fix potential safety issues when its assisted driving features are used, a Chinese regulator said in a product recall notice. It is the second software fix to fall under product recall rules since the model’s launch …
China’s Xiaomi to fix assisted driving issue for over 115,000 SU7s Read More »
By Stephen Nellis SAN FRANCISCO (Reuters) – Nvidia’s deal with Intel could put the struggling chipmaker’s next-generation manufacturing technology on a stronger footing, even without a direct commitment from the AI chip leader to use that technology to make its own chips, analysts said. Nvidia on Thursday invested $5 billion in Intel for a stake …
How Intel’s Nvidia deal could help Intel’s next generation of chip manufacturing Read More »
By Eduardo Baptista BEIJING (Reuters) – Chinese AI developer DeepSeek said it spent $294,000 on training its R1 model, much lower than figures reported for U.S. rivals, in a paper that is likely to reignite debate over Beijing’s place in the race to develop artificial intelligence. The rare update from the Hangzhou-based company – the …
China’s DeepSeek says its hit AI model cost just $294,000 to train Read More »
By Leika Kihara TOKYO (Reuters) – Japan’s core consumer prices rose 2.7% in the year to August, data showed on Friday, staying above the central bank’s 2% goal but marking the slowest pace in nine months in a sign households are getting some respite from rising living costs. The data will be among factors the …
Japan’s core inflation slows in August, stays above BOJ target Read More »
(Corrects number of employees at Vision Fund to more than 300 instead of 44, paragraph 2) By Krystal Hu (Reuters) – SoftBank Group will lay off nearly 20% of its Vision Fund team globally as it shifts resources to founder Masayoshi Son’s large-scale artificial intelligence bets in the United States, according to a memo seen …
