News

  Bloomberg A subsidiary of Taiwan’s Hon Hai Precision Industry will dispose of its indirect minority stake in China’s semiconductor giant Tsinghua Unigroup, the latest sign that Beijing’s chip industry is becoming increasingly isolated from the rest of the world. Hon Hai’s China-listed Foxconn Industrial Internet will sell the shares to Yantai Haixiu IC Investment Center for not less than ...

  Bloomberg China’s economic growth will accelerate in next year as stimulus policies take effect, CCTV reported, citing a senior planning official. Existing pro-growth measures will be kept in place and more policies to boost the economy will be added, Han Wenxiu, an official at the Communist Party of China’s central financial and economic affairs commission, told a forum. So ...

  Bloomberg Investment giant Hillhouse Capital is consolidating its two Singapore locations by moving to one of the city-state’s most premier office buildings overseeing the Marina Bay skyline, according to people with knowledge of the matter. Hillhouse has signed a lease for the 28th floor of Marina Bay Financial Centre Tower 1, the people said, asking not to be identified ...

  Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) Chief Executive Officer CC Wei warned of the dangers of excessive government export controls, which can erode mutual trust between countries. “Export controls and banning products from other foreign countries destroy productivity and efficiency gained under globalisation, or at least they reduce benefits offered by a free market,” Wei said at an industry ...

  Bloomberg Japanese companies are set to raise winter bonus payments by 9.7%, the largest gain since 1975, a survey by Nikkei newspaper reported. Steel makers led all industries in bonus increases, while semiconductors saw several companies reporting record profit led by strong demand. Disco Cor, a maker of precision processing equipment, paid Â¥3.16 million, the highest level among all ...

  Bloomberg Japan-based Idemitsu Kosan Co will aim to go ahead with the sale of a stake in an Australian coal mine, despite a surge in prices. The firm is in talks with several entities interested in acquiring its 85% stake in the Ensham mine in Queensland, said President Shunichi Kito, who didn’t elaborate on the parties involved or when ...

  Dubai / WAM The Executive Committee of the Abu Dhabi Fund for Development (ADFD) held its first meeting for 2022, chaired by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Vice Chairman of the ADFD Board of Directors, and Chairman of the Executive Committee. The virtual meeting was attended by Ahmed Ali ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to His Majesty King Hamad bin Isa Al Khalifa of Bahrain, on the occasion of the Kingdom’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also sent ...

  Sharjah / WAM Real estate transactions in the emirate of Sharjah during November increased to AED2.7 billion, compared to a monetary value of real estate transactions of AED1.9 billion the previous month, according to a report issued by the Sharjah Real Estate Registration Department (SRERD). The report indicated that 2,813 real estate transactions were carried out during the period, ...

Dubai / WAM Costa Cruises is consolidating its presence in Dubai with the arrival of ‘Costa Toscana’, the company’s latest flagship, which entered service only last March. Toscana called for the first time at Dubai Harbour, an extraordinary seafront district designed for a maritime lifestyle, set against the district’s unique backdrop, iconic vista and accessible location. On the occasion of ...