China central bank sees more growth steps but nothing ‘drastic’

China central bank sees more growth steps but nothing ‘drastic’

CHINA’S central bank chief pledged further steps to support his nation’s economic recovery, while cautioning that it will not be adopting “drastic” measures. Chinese state media published a pair of interviews with People’s Bank of China (PBOC) governor Pan Gongsheng on Thursday (Aug 15) after key indicators for July suggested the country’s economic growth remains…

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Applied Materials forecasts quarterly revenue above estimates on AI-driven demand

Applied Materials forecasts quarterly revenue above estimates on AI-driven demand

APPLIED Materials forecast fourth-quarter revenue slightly above Wall Street estimates on Thursday (Aug 15), anticipating a surge in artificial intelligence (AI) fuelled demand for its chip-making equipment. The booming demand for AI-powered chips has increased the need for sophisticated and expensive wafer fabrication equipment essential for chip manufacturing, benefiting companies such as Applied Materials. A…

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