HANOI: Vietnam on Thursday raised its average retail electricity price by 3 per cent, the government said, in a move that could put upward pressure on inflation. Annual inflation in the Southeast Asian country has been easing since the beginning of the year, with April consumer prices rising 2.81 per […]
Business
French IT consulting group Capgemini on Thursday reported a weaker revenue growth in the first quarter of 2023 versus the same period of last year, citing a tense economic environment with clients adopting a “wait-and-see attitude”. The company’s revenue reached 5.73 billion euros ($6.35 billion) over the period, 10.9 per […]
SEOUL: Samsung Electronics on Thursday (Apr 27) reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business. The South Korean company – one of the world’s largest makers of memory chips and smartphones – said […]
SINGAPORE: Singapore’s United Overseas Bank (UOB) reported on Thursday (Apr 27) a 74 per cent surge in core profit in the first quarter from a year earlier on the back of strong net interest and non-interest income growth. The lender’s core profit, which excludes one-off expenses, rose to a record […]
NEW YORK: On the 31st floor of what was once a towering office building in downtown Manhattan, construction workers lay down steel bracing for what will soon anchor a host of residential amenities: a catering station, lounge, fire pit and gas grills. The building, empty since 2021, is being converted […]
HANOI : Apple supplier Quanta Computer plans to set up a factory in northern Vietnam, the Vietnamese government said. The company, a MacBook contract manufacturer, on Friday signed an agreement with the authorities of Nam Dinh province, 90 km (56 miles) south of Hanoi, to construct the facility at an […]
BOCA CHICA, Texas : Elon Musk’s SpaceX made final preparations early on Monday to launch its powerful new Starship rocket system to space for the first time, on a brief but highly anticipated uncrewed test flight from the Gulf Coast of Texas. The two-stage rocketship, standing taller than the Statue […]
HELSINKI : Japan’s Sega Sammy Holdings Inc has agreed to launch an offer for Finland’s Rovio Entertainment, the maker of the Angry Birds mobile game, for 706 million euros ($775.8 million), the companies said in a joint statement on Monday. Tokyo-based Sega will offer 9.25 euros per share for Rovio, […]
SAN FRANCISCO: Elon Musk has formed an X.AI artificial intelligence corporation based in the US state of Nevada, according to business documents that surfaced on Friday (Apr 14). Musk, who is already the boss of Twitter and Tesla, was listed as director of X.AI Corporation founded on Mar 9, a […]
TOKYO: The Bank of Japan will likely modify or end its bond yield control policy due to increasing side-effects such as the hit to financial institutions’ profits, former deputy governor Hiroshi Nakaso told a newspaper interview published on Sunday (Apr 9). The massive stimulus deployed by Haruhiko Kuroda, whose term […]