Bloomberg Spain plans to invest 11 billion euros ($12.4 billion) to develop microchips and semiconductors in a bid to modernise its tourism-dependent economy. “We want our country to be at the vanguard of industrial and technological progress,” Prime Minister Pedro Sanchez said in Madrid, without giving more details. He said the project will be approved soon by his cabinet. …

  Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) revenue rose to a record in the first quarter on demand for chips used in smartphones, computers and cars, while a prolonged shortage helped to boost prices. Revenue jumped 36% to NT$491.1 billion ($17 billion) in the three months through March, the company said in a statement. Analysts estimated NT$469.4 billion on average. …

  Geneva / WAM The International Air Transport Association (IATA) announced that air travel posted a strong rebound in February 2022 compared to January 2022, as Omicron-related impacts moderated outside of Asia. Total traffic in February 2022 (measured in revenue passenger kilometers or RPKs) was up 115.9% compared to February 2021. That is an improvement from January 2022, which was …