Aussie dollar faces inflation test after stellar year-end rally

BLOOMBERG The Australian dollar’s late 2023 rally faces a new hurdle with inflation data expected to strengthen the case for earlier interest-rate cuts by the Reserve Bank. The Aussie jumped nearly 10% against the greenback from late October through December as the RBA sounded hawkish while traders priced Federal Reserve rate cuts this year. The rally may struggle to extend ...

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Stocks, bonds pause after rough week; oil declines

BLOOMBERG Stocks and bonds posted small moves on Monday as investors recalibrated their bets in the wake of last week’s selloff, which saw the steepest loss for the S&P 500 since October. The Stoxx 600 benchmark was little changed along with futures in the US, while Asian markets declined. Boeing Co shares are in focus as groundings of the 737 ...

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Boeing Max grounding goes global as carriers follow FAA order

BLOOMBERG The grounding of Boeing Co’s 737 Max 9 quickly gathered pace, with carriers from the US to Panama to Turkey pulling the model from service for inspections after a fuselage section on a brand-new Alaska Airlines jet blew out during flight. After Alaska Air kept its fleet of 65 737 Max 9s on the ground following the incident on ...

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UAE announces its participation in Nasa’s Lunar Gateway Station

ABU DHABI/ WAM In the presence of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the UAE has announced its participation in developing a module on Nasa’s Lunar Gateway Station alongside the USA, Japan, Canada and the ...

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Creator Economy: A contemporary economic sector flourishing in UAE

DUBAI/ WAM The UAE has taken significant steps towards supporting the digital content production sector and investing in its capabilities to increase its contribution to the country’s economy. This initiative is a key focus of the UAE’s National Strategy for Cultural and Creative Industries and complements a series of initiatives to attract professionals in the creative industries and innovative content ...

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Mohammed bin Rashid meets with participants of ‘Camel Trek’

DUBAI/ WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met with participants of the annual ‘Camel Trek’ at the Seih Al Salam area of Al Marmoom Desert Conservation Reserve in Dubai. The camel trekkers were heading to the Heritage Village in Global Village after embarking on a ...

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Distressed builder puts Korea on edge again

BLOOMBERG South Korea is again in damage control mode, seeking to contain fallout from a construction firm’s debt woes that risk replicating replicating a recent credit crunch. In the cross-hairs this time is Taeyoung Engineering & Construction, which shocked markets late last month with a request to reschedule payment terms for project financing loans. These securities were also the source ...

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Vietnam’s VinFast plans to invest $2b in India

BLOOMBERG Vietnamese electric-vehicle (EV) maker VinFast Auto Ltd signed an agreement with an Indian state to invest as much as $2 billion as it seeks to break into the world’s third-largest automobile market. The agreement will pave the way for VinFast to set up an integrated electric-vehicle facility in the southern state of Tamil Nadu, the company said in a ...

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Huawei teardown shows 5nm chip made in Taiwan

BLOOMBERG Huawei Technologies Co’s newest laptop runs on a chip made by Taiwan Semiconductor Manufacturing Co, a teardown of the device showed, quashing talk of another Chinese technological breakthrough. The Qingyun L540 notebook contains a 5-nanometer chip made by the Taiwanese company in 2020, around the time US sanctions cut off Huawei’s access to the chipmaker, research firm TechInsights found ...

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Apple supplier TDK bets new battery will change smartphone game

BLOOMBERG TDK Corp is fielding surging inquiries in Asia into a new lineup of smartphone batteries it hopes will become a game-changer in the quest to pack more power into ever-slimmer devices. The Apple Inc supplier is the first to apply to smartphones a technological breakthrough that its rivals have been exploring mainly as a means to stretch mileage for ...

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