News 7/21

Jul 302 min read

US Stock Turbulence Puts Big Tech Valuations in the Spotlight

US stock market turbulence highlights tech companies' valuations. S&P 500 tech sector trading at 29.5 times earnings estimates.

Jul 293 min read

Booming Demand for GenAI to Drive Doubling of Asia-Pacific Data Centre Capacity by 2028

APAC data centre capacity set to double by 2028, driven by GenAI demand. Moody’s forecasts a 20% annual growth rate in data centre capacity

Jul 292 min read

Chinese EV Maker Nio Unveils Next-Gen Smartphone to Enhance Appeal

Nio introduces second-generation smartphone with AI chatbot tool. Nio Phone enhances driving experience for smart vehicle owners.

Jul 281 min read

Toyota Plans to Construct EV Battery Plant for Lexus Vehicles

Toyota to establish an EV battery plant in Fukuoka for Lexus cars. Kyushu to become a key hub in Toyota's EV supply chain.

Jul 271 min read

JPMorgan Introduces AI Chatbot for Research Analysis

JPMorgan Chase has introduced an AI chatbot for research analysis, as reported by the Financial Times.

Jul 262 min read

Russia and China Embrace Digital Payments Amid Trade Sanctions

Russia and China resort to digital payments to overcome trade settlement challenges.

Jul 262 min read

Alibaba Cloud Introduce OBS Cloud 3.0 for the Paris 2024 Olympics

Alibaba Cloud and Olympic Broadcasting Services (OBS) have announced the release of OBS Cloud 3.0 for the Paris 2024 Olympic Games. This...

Jul 261 min read

Grab Cancels Trans-cab Acquisition Following Singapore Watchdog's Decision

Grab discontinues its acquisition of Trans-cab, Singapore's third-largest taxi operator.

Jul 252 min read

AI Frenzy Cools, Sending Nasdaq 100 Plummeting by US$1 Trillion

Investor sentiment sours on AI, leading to a US$1 trillion Nasdaq 100 decline. Alphabet Inc.'s earnings report triggers market sell-off.

Jul 252 min read

Nvidia Approves Samsung's HBM3 Chips for China-market Processor

Nvidia approves Samsung's HBM3 chips for use in Chinese market processor. Samsung's HBM3 chips initially integrated into Nvidia's H20 GPU

Jul 252 min read

IBM Sees Boost in Software and AI Demand While Consulting Declines

IBM beats analysts' revenue expectations and raises software growth forecast. Software revenue up by 7% in the quarter.

Jul 242 min read

PDD-Owned Temu's First-Half Sales Soar to US$20 Billion, Surpassing 2023 Total

Temu's GMV surged to US$20 billion in the first half of the year, surpassing its 2023 total sales.

Jul 242 min read

India Slashes Import Tax on Smartphones, Providing a Boost for Apple

India reduces import duty on mobile phones and key components from 20% to 15%. Apple to benefit significantly from the tax cut

Jul 233 min read

Alphabet Set to Report Double-Digit Q2 Growth; AI Adoption and Rising Costs in Focus

Alphabet expected to report nearly 14% rise in quarterly revenue. AI adoption and rising costs to be key focus areas.

Jul 232 min read

CrowdStrike Shares Plummet 13% Following IT Outage Fallout

CrowdStrike shares plummet 13% following global cyber outage. Concerns over reputational damage, delays in new contracts, and legal battles.

Jul 223 min read

Taiwan Tech Stocks Take a Hit as Biden Withdraws from U.S. Presidential Race

Taiwanese tech stocks experienced a decline after Joe Biden withdrew from the U.S. presidential race. TSMC, MediaTek, United Microelectronic

Jul 212 min read

Apple in Talks to Secure Licensing Rights for More Hollywood Films

Apple is in talks with Hollywood studios to acquire licensing rights for additional films.

Jul 202 min read

Indonesia to Launch Nickel and Tin Online Tracking System Next Week

Indonesia will launch an online tracking system, SIMBARA, for nickel and tin shipments next week.

Jul 202 min read

Saudia Places Largest Order Yet for Germany’s Lilium Flying Taxis

Lilium secures its largest order yet from Saudia Group for up to 100 all-electric flying shuttles. The deal includes a firm order for 50...

Jul 192 min read

Nokia Reports 32% Decline in Profit, Expects Recovery in Second Half

Nokia reports a 32% drop in operating profit for Q2 2024. Due to weak demand for 5G telecom equipment.