Reuters Asia Business

By Wen-Yee Lee and Yimou Lee TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker, downgraded its full-year outlook on Wednesday citing recent appreciation of the Taiwan dollar, even as it struck an upbeat note about booming demand for AI servers. Foxconn, Apple’s top iPhone assembler and Nvidia’s AI server maker, has ridden …

Nvidia supplier Foxconn cuts outlook due to currency appreciation Read More »

MILAN (Reuters) -Sales at Salvatore Ferragamo fell in April, the Italian luxury goods group said on Wednesday as it posted a 1% revenues drop for the first quarter hit by weak demand in the Asia Pacific region. The quarterly change strips out the impact of currency moves. Net sales plunged almost 14% in the Asia …

Asia weakness, trade war weigh on Ferragamo revenues, slide continued in April Read More »

SHANGHAI (Reuters) -Tesla plans to start shipping components from China to the U.S. for the production of Cybercab and Semi trucks from the end of this month, after the U.S. and China reached a truce over tariffs, said a person with direct knowledge. The move, being reported by Reuters for the first time, illustrates how …

Exclusive-Tesla to resume shipping Chinese parts for Cybercab, Semi production in the US, source says Read More »

By Sam Nussey TOKYO (Reuters) -Sony said on Wednesday it expects operating profit to rise 0.3% to 1.28 trillion yen ($8.7 billion) in the financial year ending in March, after factoring in a 100 billion yen hit from U.S. President Donald Trump’s trade war. The estimated tariff impact does not reflect this week’s trade deal …

Sony forecasts flat profit this year as tariffs hit Read More »

NEW DELHI (Reuters) – India’s cabinet has approved a new semiconductor plant, a joint venture between HCL Group and Taiwan’s Foxconn, costing 37.06 billion rupees ($435 million), information minister Ashwini Vaishnaw said on Wednesday. The plant, which will be located near the Jewar airport in the northern state of Uttar Pradesh, is designed for a …

India approves HCL-Foxconn joint venture semiconductor unit Read More »

HANOI (Reuters) -Vietnam’s Prime Minister Pham Minh Chinh on Wednesday urged the country’s anti-counterfeit task force to devise new ways to fight fake goods, trade frauds and smuggling, the government said in a statement. The pledge came as Vietnam is in talks to avoid crippling U.S. tariffs, offering Washington multiple measures to address longstanding concerns, …

Vietnam PM vows to fight against counterfeits, trade frauds Read More »

BEIJING (Reuters) -Tencent Holdings’ stockpiles of AI chips should protect it from U.S. restrictions, its president said on Wednesday, after it reported first-quarter results that beat expectations. Tencent, the world’s largest video game company and WeChat operator, reported revenue of 180 billion yuan ($24.97 billion) for the quarter ended March, up 13% and beating LSEG …

Tencent says resilient to US chip curbs after revenues rise Read More »

DHAKA (Reuters) -The International Monetary Fund is set to release $1.3 billion to Bangladesh in June following the fourth review of its $4.7 billion loan programme and a breakthrough in talks on exchange rate reforms, the finance ministry said. The funds, covering both the fourth and fifth tranches, had been held up as the IMF …

Bangladesh to receive $1.3 billion from IMF as reform deal reached Read More »

SEOUL (Reuters) – Samsung Electronics said on Wednesday it had agreed to buy Germany’s FlaktGroup for 1.5 billion euros ($1.68 billion) as it looks to meet growing demand for cooling of data centres used for artificial intelligence projects. In the South Korean company’s biggest acquisition in eight years, it will purchase the air conditioning and …

Samsung to buy German cooling system maker FlaktGroup for $1.7 billion Read More »