On Tuesday, Foxconn, the world’s largest contract chipmaker, said it expects the second half of this year to be “in a better direction” since COVD-19 lockdown appears to be easing in Shanghai. “We are quite confident in the stability of… Read More ›
In a significant development Turkish President Tayyip Erdogan said, Ankara cannot allow countries that support terrorism to in NATO, in reference to Finland and Ankara’s bid to join the military alliance. “For as long as Tayyip Erdogan is the head… Read More ›
Efforts by Bern to refresh free trade agreement with China have hit roadblocks stemming from China’s dismal human rights record. In 2013, both countries had signed a free trade agreement, marking Beijing’s first such deal with an economy in continental… Read More ›
In a statement German Economy Minister Robert Habeck expressed concerns over the European Union’s unity on Russia, saying he is seeing signs that they are “starting to crumble”. Habeck made the comments ahead of a summit to discuss an oil… Read More ›
The International Monetary Fund (IMF) has agreed to provide Sri Lanka with a $3 billion bailout as it navigates its worst economic crisis since gaining independence. The agreement, which has been in development for almost a year, is a lifeline… Read More ›
The latest indication of issues facing China’s semiconductor industry is the accusation of corruption leveled against chip tycoon Zhao Weiguo by the country’s anti-fraud watchdog. Zhao served as Tsinghua Unigroup’s chairman before stepping down. After the government invested billions of… Read More ›
After UBS saved Credit Suisse through a government-mediated rescue, which tarnished the nation’s long-held pride in its banking prowess, Switzerland awoke to a new era on Monday. An association of bank employees expressed its shock at the potential outcomes of… Read More ›
Finally receiving approval from the IMF for a $3 billion rescue package for Sri Lanka, the island nation can now restructure its debt and expect economic growth in 2024. The IMF’s decision will allow for the immediate disbursement of a… Read More ›
In order to maintain ample liquidity and support a nascent economic recovery, China’s central bank announced on Friday that it would reduce the amount of cash that banks must hold as reserves for the first time this year. Chinese leaders… Read More ›
Following the failure of Silicon Valley Bank and Signature Bank, banks requested unprecedented amounts of emergency liquidity from the Federal Reserve, which helped undo months of central bank efforts to reduce the size of its balance sheet, according to Fed… Read More ›
European telecom companies want big tech in the United States to pay for the internet, but tech titans are fighting back. Tensions between European telecommunications firms and U.S. Big Tech companies have risen as telecom executives put pressure on regulators… Read More ›
The Dutch government has yet to define critical aspects of new restrictions on chip-technology exports to China, such as whether ASML Holding NV can service chip-printing machines already sold in the country. “Those details have yet to be worked out,”… Read More ›
SHEIN, an online fast-fashion retailer, and Temu, a newer competitor, are competing for shoppers’ attention with their low-cost Chinese-made goods. Their feud is being waged not only on social media, but also in a US court. The legal squabble is… Read More ›
Credit Suisse hosted its top clients in October at the opulent Fontainebleau Miami Beach hotel, amid growing doubts that it was still in the securities trading game after a string of high-profile gaffes. Investors and trading firms from BlackRock to… Read More ›
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