Samsung flags 96 percent plunge in profit amid chip slump
South Korean tech giant says it will make 'meaningful' cuts to chip production amid global economic slowdown.
Category Archives: Economy
Is the stratosphere up for a gold rush?
A new generation of companies wants to use large, uncrewed aircraft to beam down 5G signals and keep an eye on Earth.
Indonesia’s Telkomsel agrees to $3.9bn merger with broadband arm
Move comes as the telecom looks to expand in Indonesia's fixed broadband market.
Formula 1 in the skies: could flying cars soon be a reality?
Alauda Aeronautics hopes the world’s first flying car race will make futuristic vehicles an everyday reality.
After Al Jazeera story, Sri Lanka says crypto scheme a ‘pyramid’
Sri Lanka's central bank is considering criminal charges against those accused of running a fake crypto scheme.
Foxconn founder Gou to run for Taiwan presidency again
Terry Gou announces he will seek nomination for the Kuomintang for a second time.
Why central banks face a delicate balance in inflation fight
Central banks are seen treading carefully following the sudden collapses of Silicon Valley Bank and Credit Suisse.
Australia to ban TikTok on government devices, following US, UK
Canberra's announcement is the latest move to restrict the popular video-sharing app over alleged security risks.
Oil prices surge after OPEC’s surprise output cuts
Price jump comes after news oil producers will slash output by about 1.16 million barrels per day.
South Korea to keep Fukushima seafood ban despite thaw with Japan
President Yoon Seok-yeol's administration says 'health and safety' top priority despite improving Seoul-Tokyo ties.
Malaysia’s Anwar faces balancing act on first China trip
Malaysian leader expected to navigate between deepening economic ties and tackling differences in talks with Xi Jinping.
Alibaba breakup bid raises hopes of end to China’s tech crackdown
Shares in top Chinese tech firms rise after Alibaba plan fuels hopes of letup in regulatory scrutiny of the sector.
China’s rich flee crackdowns for ‘Asia’s Switzerland’ Singapore
Chinese wealth is rushing into the Southeast Asian city-state, prompting unease among some locals.
Cuba’s new parliament will face a familiar economic hangover
Slammed by sanctions, the pandemic, and high inflation, Havana is making piecemeal reforms which may not be enough.
China authorities raid US due diligence firm, detain staff
Raid on the Mintz Group office in Beijing comes as China prepares to hold its annual economic forum.
Crypto founder Do Kwon indicted in US after Montenegro arrest
Co-founder of Singapore-based Terraform Labs faces eight charges, including securities fraud and wire fraud.
Sri Lanka receives first tranche of IMF bailout, says president
Ranil Wickremesinghe says his government will kick off next round of talks with creditors in the third week of April.
TikTok CEO to tell legislators app ‘never shared’ data with China
Shou Zi Chew will testify that app is not an 'agent of China or any other country' amid national security risk claims.
Google launches ChatGPT rival Bard in US and UK
Google chatbot is the latest AI app to churn out essays, poems and computer code on command.
Japan, Singapore, Hong Kong downplay effect of Credit Suisse woes
Asian financial authorities say Swiss lender's takeover not likely to affect stability of local banks.