Asian stocks tumbled again after another round of strong US data reinforced expectations the Federal Reserve will resume its interest rate hikes as officials wrestle with stubbornly high inflation. After a strong start to the week fueled by signs that US prices were stabilizing, regional markets have taken a turn...

Global glut of semiconductors hurts company's core memory sector.

Compared with 2008 levels, the United Nations' global shipping regulator has agreed to cut total annual emissions of greenhouse gases "by at least 20 percent, striving for 30 percent, by 2030" and "by at least 70 percent, striving for 80 percent, by 2040". The current target was a 50-percent reduction...

LONDON, UK - Shell's chief executive told the BBC on Thursday that cutting gas and oil output would be "irresponsible" because it could further lift energy bills and worsen the cost-of-living crisis. Wael Sawan was asked about recent comments from UN head Antonio Guterres, who had declared it was "moral and...

Al-Jaber, head of the UAE national oil company ADNOC, told ministers from countries of the OPEC oil producers' grouping the industry must "urgently decarbonize its operations and take collective action to eliminate operational emissions".

Petteri Taalas, secretary-general of the UN's World Meteorological Organization, warned on Monday that El Nino "will greatly increase the likelihood of breaking temperature records and triggering more extreme heat in many parts of the world and in the ocean."

Taipei, Taiwan -- Taiwan's chip giant TSMC said Thursday it did not expect any direct effect on production from China's latest export controls on two rare metals essential for making semiconductors. China's Ministry of Commerce and Customs announced Monday that exports of gallium and germanium will require a license from Aug....

London, United Kingdom - Stock markets retreated Wednesday on poorly-received Chinese data, as investors looked ahead to the reopening of Wall Street after the Independence Day holiday. "There are fresh concerns about the global economy powering down as data from China's service sector underlines how tepid the post-pandemic recovery has become,...

CHENGDU, CHINA - AI doctors and real doctors held an evaluation for the first time in Chengdu Haiersen Hospital, Southwest China's Sichuan Province recently, local media reports said. In the 91 cases reviewed, an AI doctor, "MedGPT", and the attending doctors reached 96 percent agreement on case results; the Global...

The Shanghai Cooperation Organization -- which on Tuesday welcomed Iran as its ninth member -- encompasses a vast stretch of the globe from Moscow to Beijing and includes around half the world's population when observer and "dialogue partner" nations are included. Created in 2001 to discuss security and economic matters,...

BEIJING, CHINA - China said on Monday it would slap export controls on two rare metals essential for the manufacture of semiconductors over security concerns, as Beijing and Washington tussle over the global market for chips. Exports of gallium and germanium, of which China is a major producer, will require a...

In Beijing, Yellen will discuss how the United States views its economic relationship with China, a senior Treasury official said Sunday. She will meet with senior Chinese officials and leading US firms, the American spokesperson said without providing specifics.

From April to June, the Texas-based electric vehicle giant produced 479,700 cars -- an 85 percent increase compared to the second quarter in 2022. That brings Tesla's total production by the middle of this year to 920,508, well on its way to its goal of manufacturing 1.8 million cars in...

Moscow, Russia -- Iran will be formally approved as a member of the regional Shanghai Cooperation Organization with China, Russia and Central Asian countries, Russian Foreign Minister Sergei Lavrov said Friday. "At the meeting of heads of state on July 4, the full membership of Iran will be approved," Lavrov said...

Wall Street popped higher Tuesday after a string of readings soothed concerns about a possible recession, while traders were also cheered by Chinese growth pledges. However, reports that Washington could block the export of artificial intelligence chips to China weighed on sentiment.

TIANJIN, CHINA -  The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential to make a positive impact on the world. These include flexible batteries, generative AI and sustainable aviation fuel. The technologies featured in the Top 10 Emerging Technologies Report 2023, produced...

The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country are being closely followed. Sentiment was also boosted by comments from Chinese Premier Li Qiang, who said the government would roll out fresh measures to kickstart the nation's struggling economy...

PARIS, FRANCE- Common standards unveiled on Monday for companies to report their greenhouse gas emissions could curb misleading climate claims in the corporate world, the chair of the body that wrote the norms told AFP. Currently, most large companies report how many tons of carbon they emit into the atmosphere each...

MOSCOW, RUSSIA - Russia's foreign ministry said on Sunday that Beijing had backed Moscow's efforts to counter a short-lived armed uprising led by the head of the Wagner mercenary group Yevgeny Prigozhin. "The Chinese side expressed support for the efforts of the leadership of the Russian Federation to stabilize the situation...

BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum for an economy at the forefront of an industrial transformation. But the picture painted by business leaders and experts is less rosy, predicting hard times to come for Europe's largest...

XINJIANG, CHINA - China has successfully performed the world's first liver resection surgery utilising a domestically developed 5G remote robot, reported China Economic Net. A medical team from Zhejiang and Xinjiang provinces collaborated through the use of 5G remote robot, overcoming a considerable distance of 4,600 kilometers. The surgery was...

Musk, one of the world's richest men, said that Modi was "pushing us to make significant investments in India, which is something that we intend to do, and are trying to figure out the right timing".

The peace deal has ignited debates on its potential to transform Middle East from a region hit by conflicts to a peaceful place. Dive into an in-depth analysis from TRENDS.

The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place.

SEOUL, SOUTH KOREA - Hyundai Motor said on Tuesday it aims to sell two million electric vehicles a year by 2030, raising its target from the 1.87 million it set last year as the market for clean-energy vehicles continues to soar. It also announced plans to invest a total of 109.4 trillion...

The agreement, to supply four million tons annually to the China National Petroleum Corporation (CNPC), matches the terms of a November deal with China's Sinopec as the longest ever seen in the industry.

Saudi-Iran peace deal will reduce tensions in the region and would solve some of the problems if not all, says US Secretary Antony J. Blinken in an interview.

The move fits in with its plan to reorganize business operations.

Saudi-Iran peace deal will reduce tensions in the region and would solve some of the problems if not all, says US Secretary Antony J. Blinken in an interview.

Blinken opened the day by meeting China's top diplomat, Wang Yi, whose position in the Communist Party ranks above the foreign minister. Returning to the ornate state guesthouse in the ancient Diaoyutai gardens where Sunday's talks took place, Blinken and Wang offered polite smiles before the cameras and exchanged pleasantries...

Equities enjoyed a strong run-up last week, partly on the back of hopes that Beijing would unveil a raft of economic stimulus to go with two interest rate cuts. Expectations have been high that officials would provide help for the struggling property sector and introduce measures to kickstart consumer activity.

US Secretary of State Antony Blinken is in Beijing for key discussions, marking the first top-level US visit in five years. Amid rising tensions and conflicts over trade, technology, and security, both countries display cautious optimism for better communication and a potential easing of bilateral strains.

In a significant step towards reconciliation, Saudi Foreign Minister Faisal bin Farhan conducted a landmark visit to Iran to hold talks with his Iranian counterpart, Hossein Amir-Abdollahian, focusing on regional security. This visit comes after both nations agreed to mend ties in a Chinese-brokered deal, following a diplomatic severance in...

Beijing had banned its chips from critical infrastructure projects.

BERLIN, GERMANY - German industrial giant Siemens said on Thursday it would build a new high-tech factory in Singapore and expand another in China as part of a two-billion-euro ($2.1 billion) investment plan to build up its manufacturing capacity. Siemens said it would invest around 200 million euros in the Singapore...

COLOMBO, SRI LANKA - Crisis-hit Sri Lanka's economy shrank by 11.5 percent in the first quarter just before an IMF bailout kicked in, official figures showed Thursday. The contraction in the first three months compared with shrinkage of 0.5 percent in the corresponding period of 2022, and a decline of 12.4...

Stora Enso plans to permanently close four units in Europe.

From Indonesia, TikTok Shop "aggressively expanded into five additional Southeast Asian markets, many of which boasted large populations of TikTok users" and invested to improve its e-commerce capabilities, said Weihan Chen, head of insights at Momentum Works. The return of offline shopping after Covid-19 restrictions were lifted led to a...

Beijing has sought to boost its ties in the Middle East, challenging US influence -- efforts that have sparked unease in Washington. Chinese foreign ministry spokesperson Wang Wenbin called long-time Palestinian leader Abbas an "old and good friend of the Chinese people" during a regular media briefing last week.

China's approach, characterized by a combination of economic incentives and a focus on development, contrasts with the more assertive and unilateral approach often associated with the United States. For Arab nations, China's appeal also lies in its geo-economic-centric relationship, he adds.

Dubai, UAE -- The United Arab Emirates will see the second biggest migration of high-net-worth individuals (HNWIs) in 2023 with a net inflow of 4,500 HNWIs, next only to Australia that is expected to receive 5,200 millionaires, according to the Henley Private Wealth Migration Report 2023. The inflow of millionaires...

Beijing has sought to boost its ties to the Middle East, challenging long-standing US influence there -- efforts that have sparked unease in Washington. In an interview with Chinese state news agency published this week, Palestinian official Abbas Zaki said China and the Palestinians were "friends closer than brothers".

GENEVA, SWITZERLAND - The world's nuclear powers, and China in particular, increased investment in their arsenals for a third consecutive year in 2022 amid swelling geopolitical tensions, two reports showed Monday. The world's nine nuclear-armed states jointly spent $82.9 billion on their arsenals last year, with the United States accounting for...

Since Russia launched its invasion of Ukraine last year, economic sanctions have seen a significant cut in its oil and gas exports to the EU and US. However Pakistan, in the midst of an economic downturn worsening a long-running energy shortage, in May confirmed it had struck a deal with Moscow...

The conference -- being held under the theme "Collaborating for Prosperity" -- aims to strengthen the Arab-Chinese friendship and foster a shared prosperous future.

Beijing, China -- Dinner, drinks and a selfie with Lionel Messi sounds like every football fan's dream, but Chinese police have warned it's just one of numerous scams surrounding his visit to Beijing. The Argentine legend's presence in China for a friendly against Australia in the capital on Thursday has drawn...

US Secretary of State Antony Blinken will travel to China next week, rescheduling a visit that was canceled in February, US officials said Friday. Blinken is expected to arrive in Beijing on June 18, the first trip by a top US envoy to China since his predecessor Mike Pompeo in...

"At the invitation of President Xi Jinping, president of the state of Palestine Mahmud Abbas will pay a state visit to China from June 13 to 16," foreign ministry spokesperson Hua Chunying said. Beijing has positioned itself as a mediator in the Middle East, brokering the restoration of ties between...

Foreign Minister Prince Faisal bin Farhan, in a joint press conference with Blinken, played down talk that the oil-rich kingdom was moving away from Washington in favour of its giant rival, Beijing. "I don't ascribe to this zero-sum game," Prince Faisal said in Riyadh. "We are all capable of having...

The Paris-based organization forecast an economic expansion of 2.7 percent, up from 2.6 percent in its previous report in March, with upgrades for the United States, China and the eurozone. But it is still under the 3.3 percent growth recorded in 2022.