BLOOMBERG Japan’s equities are rapidly recovering the heft they lost to their Chinese peers in the early years of the pandemic as global investors continue to seek alternatives to the world’s second-biggest economy. The gap between the market capitalisation of mainland Chinese stocks and Japanese shares has shrunk to $2.55 trillion, the least since July 2020, data compiled by Bloomberg ...

BLOOMBERG Taiwan Semiconductor Manufacturing Co (TSMC) expects a return to solid growth this quarter and gave itself room to raise capital spending in 2024, suggesting the world’s most valuable chipmaker anticipates a recovery in smartphone and computing demand. The main chipmaker to Apple Inc and Nvidia Corp is budgeting capital expenditure of $28 billion to $32 billion — versus about ...

BLOOMBERG European stocks steadied on Thursday after the biggest three-day drop since October as traders re-calibrated their wagers on the timing and extent of interest rate cuts. Signs that European policy makers are converging around a June rate reduction helped calm markets, along with indications that Chinese state funds are coming to the rescue of equities battered by signs of ...

BLOOMBERG Apple Inc will begin selling versions of its Series 9 and Ultra 2 watches without a blood oxygen feature in the US, following a legal setback in its patent dispute with Masimo Corp. The company said that the tweaked models were expected to go on sale on Thursday at its retail outlets and online store. The new models will ...

BLOOMBERG Hyundai Motor Co will give as much as $7,500 in cash bonuses for electric-vehicle buyers in the US, seeking to keep its cars competitive with automakers qualifying for tax credits under President Joe Biden’s Inflation Reduction Act. The discounts apply to the Ioniq 5, Ioniq 6 and Kona Electric, and the month-long incentive will last through January 31, according ...

BLOOMBERG Owners of BMW AG’s carmaking partner in China are considering options to raise funds, including selling the company’s stake in its joint venture with the German manufacturer, according to people familiar with the matter. Preliminary talks regarding Brilliance China Automotive Holdings Ltd’s 25% stake in its joint venture with BMW are ongoing, no final decision has been made and ...

BLOOMBERG BYD Co, the world’s largest maker of electric vehicles, will invest 100 billion yuan ($14 billion) to develop smart-car features, its founder and chief executive officer said. Wang Chuanfu didn’t give a specific time frame for the investment or more details. The move comes as the Chinese carmaker tries to narrow the gap with rivals making vehicles with driver-assistance ...

RAS AL KHAIMAH/ WAM H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, received today at his palace in the Saqr bin Mohammed City, Satish Kumar Sivan, Consul-General of India in Dubai and the Northern Emirates. The RAK Ruler welcomed the Indian Consul-General, wishing him success in performing his duties and bolstering UAE-India ...

GENEVA/ WAM The global foreign direct investment (FDI) had a modest increase of over 3% to reach an estimated $1.37 trillion in 2023, defying expectations as recession fears early in the year receded, and financial markets performed well. Global FDI flows increased, but economic uncertainty and higher interest rates affected global investment. The headline increase was mainly due to higher ...

ABU DHABI/ WAM Abu Dhabi Commercial Bank (ADCB) is establishing a strategic presence in Saudi Arabia, leveraging its strong balance sheet and sophisticated corporate banking capabilities to support a growing client base, and contribute to the deepening of regional economic relationships. ADCB has received an in-principle approval from the Kingdom’s Council of Ministers and will open a branch in Riyadh, ...