Xiaomi, the prominent Chinese smartphone manufacturer, is looking to ramp up its sales in India by focusing on traditional retail outlets instead of heavily relying on e-commerce platforms. Despite the surge in online sales in the country, Xiaomi firmly believes that the brick-and-mortar segment still holds significant potential for growth. Presently, retail stores contribute to...
China's once robust post-pandemic economic recovery appears to be losing steam, prompting growing expectations that Beijing will deploy further stimulus measures. Recent data suggests a sharp deceleration in economic momentum, fueled by weakened domestic and international demand, as well as a downturn in the housing market, which is a vital driver of growth. Economists estimate...
Singapore's economy managed to narrowly avoid slipping into a recession during the second quarter, but concerns loom as China's economic decline and disruptions in trade flows continue to weaken global demand. After experiencing a contraction of 0.4% in the first three months of the year, the city-state's economy rebounded modestly, registering a 0.3% seasonally...
Ant Group has unveiled a massive share buyback program worth $78.54 billion, marking a significant step in the regulatory overhaul of China's internet sector. The buyback comes in the wake of the company's initial public offering (IPO) in 2020, which was valued at a staggering $315 billion. The fintech giant's decision to initiate the buyback...
The US labor market and a surge in the 10-year Treasury yield have sparked concerns, leading to a decline in the dollar and an increase in the yen. The latest economic indicators reveal a weakening labor market, with the United States adding the fewest positions in two and a half years during the month...
The United States has taken a firm stance against China's recent export restrictions on gallium and germanium, metals vital to the production of semiconductors and electronics. These measures, implemented by China as of 1 August, have caused significant supply shortages and price increases, forcing businesses to seek alternative sources to meet their manufacturing needs. Germanium,...
Samsung Biologics has announced two significant contracts totaling $897 million with pharmaceutical giant Pfizer. The agreements entail the production of biosimilar products for Pfizer at Samsung's state-of-the-art Plant 4 facility in South Korea, extending through 2029. The latest contracts with Pfizer mark a substantial milestone for Samsung Biologics, with a combined value of $704 million...
In a move aimed at revitalizing sluggish auto sales, China has announced a massive tax incentive program worth 520 billion yuan ($72.3 billion) for electric vehicles (EVs) and green automobiles. The tax breaks are set to stimulate growth in the world's largest auto market, providing a much-needed boost to the industry. Under the new program,...
AstraZeneca is reportedly considering the possibility of splitting off its China business and listing it on the Hong Kong Stock Exchange. Sources familiar with the matter have revealed that the company may also contemplate listing the entity in Shanghai. This move comes as AstraZeneca aims to navigate geopolitical tensions and maintain control over its...
Nissan Motor's chief operating officer, Ashwani Gupta, is set to leave the company later this month in pursuit of other opportunities, the automaker announced today. Gupta's departure will coincide with Nissan's plan to unveil a new executive team on June 27. His exit marks a significant change in the company's leadership structure as Nissan...
