SHANGHAI (Reuters) -Chinese fintech company Ant Group posted a 60.5% slide in net profit to 4.74 billion yuan ($662.7 million) in the three months to March 31, according to Reuters calculations based on earnings reported by stakeholder Alibaba on Friday. Alibaba said the decrease was mainly attributable to “investments in new growth initiatives and technologies, …
Ant Group quarterly profit falls 60% to $663 million Read More »
KUALA LUMPUR (Reuters) – Malaysian state energy firm Petroliam Nasional Bhd (Petronas) said on Friday that it was undergoing a ‘strategic transformation’ to tackle operational challenges after reporting lower profits and revenues for the first half of the year. Petronas posted a profit after tax of 26.2 billion ringgit ($6.2 billion) in the six months …
Malaysia’s Petronas says it will undergo ‘strategic transformation’ as H1 profit falls Read More »
(Reuters) -China’s Alibaba has developed a new chip that is more versatile than its older chips and is meant to serve a broader range of AI inference tasks, the Wall Street Journal reported on Friday, citing people familiar with the matter. The chip, now in testing, is manufactured by a Chinese company, in contrast to …
China’s Alibaba develops new AI chip to help fill Nvidia void, WSJ reports Read More »
By Che Pan and Brenda Goh BEIJING (Reuters) -Chinese tech giant Huawei reported a 32% drop in first-half net profit on Friday as it continued to spend heavily on research and development to offset the impact of U.S. sanctions. Net profit for January to June dropped 32% year-on-year to 37 billion yuan ($5.17 billion), the …
Huawei’s first-half profit plunges on heavy R&D spending Read More »
By Nimesh Vora MUMBAI (Reuters) -The Indian rupee weakened to a new all-time low against the offshore Chinese yuan on Friday, a move that could boost competitiveness for a segment of exporters in the South Asian nation facing hefty U.S. tariffs. The rupee dropped to 12.3862 against the offshore yuan on Friday, extending its weekly …
Indian rupee sinks to record low versus offshore yuan in likely boost to competitiveness Read More »
BEIJING/SHANGHAI/HONG KONG (Reuters) -Industrial and Commercial Bank of China Ltd (ICBC) (ICBC), the world’s largest lender by assets, reported on Friday a 1.4% drop in the first-half net profit. Net profit was 168.103 billion yuan in the six months ended June, compared to 170.467 billion yuan in the same period last year, the bank said …
SEOUL (Reuters) -South Korean prosecutors requested on Friday a 15-year jail term for local tech giant Kakao founder Kim Beom-su, also known as Brian Kim, on stock manipulation charges, said an official at the Seoul Southern District Prosecutor’s Office. Kim was arrested on accusations of stock manipulation during the acquisition of a K-Pop agency, then …
South Korea prosecutors seek 15-year jail term for Kakao founder Kim Read More »
BEIJING/SHANGHAI/HONG KONG (Reuters) -Agricultural Bank of China’s first-half net profit rose 2.7% to 139.510 billion yuan ($19.5 billion), it said in a Hong Kong Stock Exchange filing on Friday. ($1 = 7.1529 Chinese yuan renminbi) (Reporting by Ziyi Tang, Engen Tham and Selena LiEditing by David Goodman)
TOKYO (Reuters) -Tokyo Electron has not confirmed any organisational involvement following the indictment of a former employee in Taiwan for alleged theft of trade secrets from TSMC, the Japanese chipmaking equipment maker said on Thursday. Taiwan prosecutors said on Wednesday that they had indicted three people in the TSMC trade secrets case, accusing them of …
Tokyo Electron says it has no organisational role in TSMC trade secrets case Read More »
SINGAPORE (Reuters) -Malaysian conglomerate Sunway said on Friday it planned to list its healthcare division, Sunway Healthcare Holdings, on the Bursa Malaysia stock exchange by the first quarter of 2026. In January, Reuters reported that Sunway Healthcare was working on a Malaysian initial public offering worth more than 3 billion ringgit ($713 million). The IPO …
Malaysia’s Sunway plans to list healthcare unit in 2026 Read More »
