Tag: ASIA

China central bank to roll over lending tools to spur growth

BEIJING, Jan 29 (Reuters) – China’s central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy. The People’s Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, and extend a relending tool for promoting …

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Amid economic turmoil, Pakistan hikes up fuel prices Business and Economy News

The decision comes amid stalled negotiations with global lender IMF which is yet to release a crucial installment of $1.1bn. Pakistan has hiked up petrol and diesel prices after the country’s currency value plummeted this week and just days before an International Monetary Fund (IMF) visit to the country to discuss the stalled ninth review …

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China’s 2022 smartphone shipments the lowest in 10 years – research firm

SHANGHAI, Jan 29 (Reuters) – China’s smartphone sales fell 13% year-on-year in 2022, the largest plunge for the sector in a decade as consumers spent cautiously, market research firm IDC said on Sunday. The total number of devices shipped was 286 million, down from 329 million in 2022. That meant total 2022 sales volume was …

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Japan, Netherlands to join US in restricting chip equipment exports to China, Bloomberg reports

TOKYO, Jan 27 (Reuters) – Japan and the Netherlands will soon agree to join the United States in restricting exports of semiconductor manufacturing equipment to China, Bloomberg News reported. Talks between the countries will conclude as early as Friday, with the Netherlands restricting ASML Holding NV (ASML.AS) from selling machines to China used to make …

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EV battery giant LG Energy Solution upbeat on N.America market outlook

Sees limited impact on battery prices from drop in EV prices Sees demand for US-made batteries continuing to grow In talks with Tesla, other EVs to supply batteries from proposed Arizona plant SEOUL, Jan 27 (Reuters) – Battery maker LG Energy Solution (LGES) (373220.KS) said on Friday demand for electric vehicle (EV) batteries in North …

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Hopes of slowdown in rate hikes bolster shares ahead of US GDP

LONDON, Jan 26 (Reuters) – Stocks firmed on Thursday as investors bet that central banks meeting next week will signal a slowdown or even a pause in interest rate hikes for later in the year to make recession less likely and ease pressure on corporate earnings. Oil prices were steady after US crude stocks rose …

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ASML Sees Chip Market Rebound, Says China Controls Aren’t Hurting Business

text size ASML’s lithography machines are key equipment to produce the most advanced semiconductors. Emmanuel Dunand/AFP via Getty Images ASML Holding, a critical supplier to the global chip-making industry, said Wednesday that it expects to report more than 25% sales growth this year despite uncertainty in the semiconductor industry amid efforts by the US to …

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