Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But doubts remain whether it can be pulled off.
End of era as Toshiba completes $13.5 bn offer to go private
Pressure from activist shareholders and a takeover offer from private equity group CVC prompted aborted attempts to split the company first into three, and then into two. "Toshiba Group will now take a major step toward a new future with a new shareholder," CEO Taro Shimada said in a statement...TSMC posts Q4 profit of US$9.7bn
The Taiwanese company predicts slowing sales for 2023.
Foxconn and Saudi in talks to create microchips manufacturing facility
Foxconn Technology Group and Saudi Arabia are expected to jointly build a $9 billion facility that can make microchips, electric-vehicle components and other electronics. Foxconn, which is a supplier to Apple Inc, did not immediately respond to a request for comment, official sources said. According to reports, the Saudi authorities...
Huawei revenues down 29%
Huawei is the world's biggest supplier of telecoms network gear.
Toyota lifts annual profit forecast despite production cuts
The world's top-selling automaker has recovered quicker than its competitors from some of the impact from Covid.
