SEOUL : Samsung Electronics plans to increase chip production capacity at its largest semiconductor plant next year, despite forecasts of an economic slowdown, a South Korean newspaper reported late on Sunday. The move contrasts with the scaling back of investment by rival chipmakers amid falling demand and a glut of […]
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TOKYO : Toyota Motor Corp reported on Monday a 1.5 per cent rise in November global vehicle output, reaching a new record of 833,104. Domestic production slid 3.3 per cent to 266,174 vehicles, while overseas output rose 3.8 per cent to an all-time high of 566,930 for the month. Global […]
SINGAPORE : In a year when Indian equities emerged as the best performers in Asia and the country took advantage of a structural shift in supply chains from a pandemic-hit China, forecasts of robust economic growth are set to keep stocks on a firm footing. India’s Nifty 50 index struck […]
Tesla Inc is offering discounts on Model 3 and Model Y vehicles delivered in the United States and Canada this month, sales pages on its website showed on Wednesday, amid concerns the automaker is facing softening demand as economies slow. The company is giving a $7,500 credit in the United […]
NEW YORK: Billionaire Elon Musk said yesterday he will step down as chief executive of Twitter Inc TWTR.N once he finds a replacement, but will still run some key divisions of the social media platform. “I will resign as CEO as soon as I find someone foolish enough to take […]
NEW YORK: Elon Musk said today he will reinstate the Twitter accounts of several journalists that were suspended in a controversy over publishing public data about the billionaire’ s plane. “The people have spoken. Accounts who doxxed my location will have their suspension lifted now,” he tweeted.
JAKARTA : Indonesia’s parliament is expected to pass a bill this week that will allow former politicians to head Bank Indonesia (BI), the central bank, and expand its mandate to include supporting economic growth, moves that critics say could weaken its independence. The parliamentary commission overseeing the legislation, called the […]
HONG KONG : China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances. Beijing plans to roll out one […]
DUBAI : Saudi Arabia and China have signed memorandums of understanding on hydrogen energy and the encouragement of direct investment between the two states, state news agency (SPA) said on Thursday, during a state visit by Chinese President Xi Jinping to Riyadh. Xi and Saudi Crown Prince Mohammed bin Salman […]
TOKYO : BYD Co’s Japanese division said on Monday it would start selling its first battery electric vehicles (BEVs) in the country early next year, as the world’s largest EV maker further steps up its plan to either sell or make its cars available across major markets. China’s BYD, in […]