TAIPEI (Reuters) -Taiwan’s trade-driven economy is expected to grow at a slightly slower pace in 2024 than previously forecast, with exports weaker than projected, despite an AI boom that has boosted demand for tech products, the statistics office said on Friday. Gross domestic product is now expected to expand by 3.90% this year, the Directorate …
Taiwan cuts 2024 GDP growth forecast amid weaker exports Read More »
BEIJING (Reuters) – One of China’s leading chip equipment makers, Advanced Micro-Fabrication Equipment (AMEC), said on Friday it had filed a federal lawsuit against the U.S. defence department, challenging its designation as a “Chinese Military Company”. AMEC has played a key role in China’s push to develop the domestic semiconductor industry and cut reliance on …
China’s AMEC sues U.S. defence department over ‘military company’ label Read More »
HONG KONG (Reuters) – Hong Kong’s economy expanded by 3.3% in the second quarter from a year earlier, the government said on Friday, adding that the economy should continue to grow. The economy expanded by 2.7% in the first quarter of 2024. “Looking ahead, the economy should continue to grow in the remainder of the …
Hong Kong second-quarter GDP expands 3.3% on year Read More »
By Gaurav Dogra and Brigid Riley (Reuters) – Japanese investment data on Friday confirmed what the sliding yen had been pointing to all week, that after a scary burst of turmoil global investors were back to betting on the Bank of Japan going slow on rate rises and on the yen staying cheap. Japanese investors …
Japanese flows and yen show markets recovering from BOJ scare Read More »
By Joe Cash BEIJING (Reuters) – The jobless rate for 16- to 24-year olds in China, excluding students, rose to 17.1% in July from 13.2% in the prior month, the country’s statistics bureau said on Friday, as employers in the lackluster $19 trillion economy held off on hiring . A string of dismal indicators for …
China’s youth unemployment rate climbed to 17.1% in July Read More »
By Jody Godoy (Reuters) – TikTok told a federal appeals court on Thursday that the U.S. Department of Justice has misstated the social media app’s ties to China, urging the court to overturn a law requiring China-based ByteDance to sell TikTok’s U.S. assets or face a ban. TikTok, which has sued to overturn the law, …
TikTok disputes US claims on China ties in court appeal Read More »
HONG KONG (Reuters) -German automaker BMW and its joint venture will recall a combined 1.36 million locally produced and imported cars in China due to potential risks with the Takata airbag, China’s market regulator said on Friday. The recalls, effective immediately, are for models produced from 2003-2017, China’s State Administration for Market Regulation said in …
BMW, venture to recall 1.36 million cars in China due to airbag risks, regulator says Read More »
By Nichola Groom and Francesco Guarascio (Reuters) – A group of U.S. solar panel makers asked the Commerce Department on Thursday to consider imposing duties retroactively on Vietnam and Thailand due to a surge in imports, as those countries face probes for alleged unfair practices in the multi-billion-dollar trade. In May, the Commerce Department started …
US solar group seeks retroactive duties on panel imports from Vietnam, Thailand Read More »
By Karen Freifeld (Reuters) – Global electronics company TE Connectivity has agreed to pay $5.8 million to settle with the U.S. Department of Commerce for illegally shipping items to parties tied to Chinese hypersonics, drone and military electronics programs. TE Connectivity violated U.S. export control laws 79 times between 2015 and 2019, mostly by shipping …
TE Connectivity settles with US for illegally shipping components to Chinese entities Read More »
By Seher Dareen (Reuters) – China’s decision to restrict exports of antimony from Sept. 15 is likely to drive prices of the metal used in ammunition and batteries to new records, as buyers seek more material to stockpile, analysts and traders said on Thursday. Prices of the minor metal, also used in fire-retardants, photovoltaic solar …
Antimony prices gear up for new records on China export curbs Read More »
