Ride-hailing company Uber will acquire Delivery Hero’s foodpanda branded takeaway business in Taiwan for $950 million in cash, the companies said on Tuesday. Germany’s Delivery Hero plans to additionally issue 8.42 million new ordinary registered shares which Uber has agreed to purchase for $300 million, the two companies said. Following […]
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SINGAPORE: The United States sees Iran’s capacity to move its oil as reliant on service providers based in Malaysia, with oil being transferred near Singapore and throughout the region, the US Treasury Department’s top sanctions official said on Tuesday. Brian Nelson, Treasury’s undersecretary for terrorism and financial intelligence, was speaking […]
SHANGHAI: US Secretary of State Antony Blinken called on Thursday (Apr 25) on the United States and China to manage their differences “responsibly” as he went on a charm offensive ahead of expected tough talks. A day before meeting Beijing’s top brass to tackle thorny issues including Russia, Taiwan and […]
TOKYO: Toyota Motor will delay the start of its electric vehicle (EV) production in the U.S. to the spring of 2026 from the proposed 2025 timing, the Mid Japan Economist newspaper said on Thursday. The automaker will also reduce its domestic vehicle production to less than 14,000 vehicles per day […]
BANGKOK : Thai banks will cut lending rates by 25 basis points for vulnerable groups for a period of six months, the country’s Bankers’ Association said on Thursday. The decision came after Prime Minister Srettha Thavisin said this week he had asked Thailand’s four largest lenders to lower interest rates […]
HANOI: Vietnam is readying the launch next week of a new stocks trading system that would speed up settlement of transactions, as part of reforms aimed at upgrading the country’s stock market and attracting more foreign investors. The move, if successfully completed, would boost the chances of the South east […]
The battle for supremacy in semiconductor manufacturing in East Asia has always been brutal. From Taiwan to Kumamoto prefecture in Japan, the South Korean city of Pyeongtaek, and Arizona in the United States – a global rush to build new semiconductor manufacturing capacity is underway. They also form what is […]
SAN FRANCISCO: Elon Musk yesterday came out against banning TikTok in the United States, even if it would mean less competition for his social media platform X, formerly Twitter, as the initiative sees fresh bipartisan momentum in Congress. The US House of Representatives is set to vote today on a […]
Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each on Friday, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations. Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, […]
MANILA: The defence forces of the United States, Japan, Australia and the Philippines will conduct “maritime cooperative activity” to support a free and open Indo-Pacific, the Philippines’ defence ministry said today. Naval and air force activities will be conducted within the Philippines’ exclusive economic zone on April 7, Manila’s defence […]