Business

BLOOMBERG The US and India will sign an agreement to boost coordination of their chip-industry incentive plans and are discussing the best ways to avoid over-subsidisation as the South Asian nation looks to boost its role in the global technology supply chain. The memorandum of understanding focusses on information-sharing and policy dialogue, Commerce Secretary Gina Raimondo told reporters. While she ...

BLOOMBERG AirPods maker GoerTek Inc’s Vietnam business chief is leaving the company, days after the executive outlined how Apple Inc’s Chinese suppliers are likely to move capacity out of the country far faster than anticipated to pre-empt fallout from escalating Beijing-Washington tensions. Deputy Chairman Kazuyoshi Yoshinaga is departing for “personal reasons,” the Chinese firm said in a brief exchange filing, ...

BLOOMBERG Apple Inc is reshuffling management of its international businesses to put a bigger focus on India, according to people with knowledge of the matter, a sign of the nation’s growing importance. The shift will mark the first time that India becomes its own sales region at Apple, which has seen demand surge in the country. That will give the ...

BLOOMBERG India may sell as much as 250 billion rupees ($3 billion) of green bonds in the next fiscal year and plans to include longer maturity debt to the offering, according to people familiar with the matter. There is a demand for papers of 30- to 40-year tenor, particularly from insurance companies, to fund projects with a longer gestation period, ...

BLOOMBERG China’s consumer and producer prices remained subdued in February as food and commodities costs eased, suggesting the country’s reopening won’t be adding to global inflation pressures. The consumer price index rose 1% last month from a year earlier, the National Bureau of Statistics (NBS) said, the lowest level since February 2022 and well below estimates. Less volatile core inflation ...

BLOOMBERG Prime Minister Rishi Sunak is committing more than £360 million to cutting-edge technologies under plans to make Britain a science “superpower” by the end of the decade, as he starts to sketch out his vision in the build-up to next week’s budget. Under a 10-point Science and Technology Framework, a “coordinated cross-government approach” will drive innovation in “trailblasing” technologies ...

BLOOMBERG As Covid-19 lockdowns gripped the world in 2020, Bernard Looney, chief executive officer of BP Plc, made a startling admission: He thought that oil demand might never return to its pre-pandemic peak. But recently, Looney has done an about-face. After announcing ambitious plans to cut emissions, BP, one of the world’s top crude producers, is now plowing more money ...

BLOOMBERG Chinese markets may come under pressure again on concerns that authorities will withhold stimulus after unveiling a conservative economic growth target that is below many investors’ expectations. The consensus-lagging growth goal of around 5% for 2023, as Premier Li Keqiang outlined in a key address to open the National People’s Congress, suggests strong monetary or fiscal help may be ...

BLOOMBERG Thailand spent a total of 444 billion baht ($12.8 billion) on public health during the three years of the pandemic to contain the spread of Covid-19 and vaccinate its population, according to the Ministry of Public Health. The cost of testing and treating people for Covid accounted for more than half the total spending at 260 billion baht, the ...

BLOOMBERG Takeda Pharmaceutical Co will sell its dengue vaccine at a steep discount in emerging markets, part of its plan to make sure that people most vulnerable to the life-threatening disease will have access to the immunisation. The cost for Qdenga in Indonesia will be about one-third its European price, far lower than many other innovative vaccines, Takeda Chief Executive ...