Reuters Asia Business

US fines GlobalFoundries for shipping chips to sanctioned Chinese firm

1 Nov 2024

By Alexandra Alper, Jasper Ward and David Ljunggren (Reuters) -The U.S. said on Friday it imposed a $500,000 penalty on New York-based GlobalFoundries, the world’s third-largest contract chipmaker, for shipping chips without authorization to an affiliate of blacklisted Chinese chipmaker SMIC. In a statement, the Commerce Department said GlobalFoundries sent 74 shipments worth $17.1 million …

US fines GlobalFoundries for shipping chips to sanctioned Chinese firm Read More »

Brokers added to wealth connect scheme between Hong Kong and mainland China

1 Nov 2024

By Xie Yu and Selena Li HONG KONG (Reuters) – China and Hong Kong have expanded a pilot cross-border wealth connect scheme to include services offered by brokers, according to a regulator’s statement, broadening offshore investment options for residents in the world’s second largest economy. A total of 14 securities firms have been chosen by …

Brokers added to wealth connect scheme between Hong Kong and mainland China Read More »

A year on, Intel’s touted AI-chip deals have fallen short

1 Nov 2024

By Jeffrey Dastin (Reuters) -Intel’s upbeat revenue projections on Thursday masked a sore point for the embattled company: chips touted for artificial intelligence have not lived up to sales expectations. The chipmaker scrapped its recent forecast that in 2024 it would sell more than $500 million worth of Gaudi accelerator chips, so called because they …

A year on, Intel’s touted AI-chip deals have fallen short Read More »

China eases rules for foreign investment in listed companies

1 Nov 2024

BEIJING (Reuters) – China issued revised regulations on Friday for foreign investors in its listed companies, expanding eligibility criteria and easing financial requirements in a bid to attract more foreign investment. Under the new regulations, China will allow foreign individuals to invest strategically in listed companies, the Ministry of Commerce said in a statement. The …

China eases rules for foreign investment in listed companies Read More »

China confirms EU delegation visit for EV tariff talks

1 Nov 2024

BEIJING (Reuters) – China’s commerce ministry on Friday confirmed that the European Union will send representatives to the country for negotiations regarding price commitments in the electric vehicle tariff dispute. The EU indicated they would come to China to continue consultations on the specifics of the price commitment proposal after intensive communications, the ministry said …

China confirms EU delegation visit for EV tariff talks Read More »

Taiwan’s CPC Corp seeks third jet fuel cargo in two months, sources say

1 Nov 2024

SINGAPORE (Reuters) – Taiwan’s state-owned energy major CPC Corp is looking to buy its third spot jet fuel import cargo in less than two months, for December arrival, three trade sources with knowledge of the matter said on Friday. The refiner is looking to buy 300,000 barrels of the aviation and heating fuel for Dec. …

Taiwan’s CPC Corp seeks third jet fuel cargo in two months, sources say Read More »

Shanghai introduces new subsidies for autos trade-ins

1 Nov 2024

BEIJING (Reuters) – China’s city of Shanghai on Friday issued fresh measures to boost auto sales, offering subsidies for trade-ins, according to a municipal statement. The city will provide a 15,000 yuan ($2,106.45) one-time purchase subsidy for qualified individual buyers of new all-electric vehicles priced above 50,000 yuan from Nov.1 to Dec.31. Buyers of new …

Shanghai introduces new subsidies for autos trade-ins Read More »

Japan political turmoil a risk for BOJ December hike, former board member says

1 Nov 2024

By Divya Chowdhury MUMBAI (Reuters) – Political turmoil after Japan’s ruling coalition lost its majority in a snap election last weekend could lead the Bank of Japan to delay its next interest rate hike until January, a former BOJ board member said on Friday. “If the yen depreciates further (against the dollar), the probability of …

Japan political turmoil a risk for BOJ December hike, former board member says Read More »

China pivot from US farm imports bolsters it against trade war risks

1 Nov 2024

By Mei Mei Chu and Naveen Thukral BEIJING/SINGAPORE (Reuters) -China’s push to shift its food import sources since 2018 has put it in a better position to impose tit-for-tat tariffs on U.S. farm goods with less harm to its food security if trade friction with Washington flares after the U.S. presidential election. The threat of …

China pivot from US farm imports bolsters it against trade war risks Read More »

Close Bitnami banner
Bitnami