Posts by Mark Darwin
Malaysia says tech firms must comply with its laws amid backlash over social media licensing
“Big tech companies are big, but our laws are bigger,” says Communications Minister Fahmi Fadzil Major tech companies must comply with local laws to continue operating in Malaysia, a minister said on Tuesday (Aug 27), after an industry group urged the government to pause a plan to require social media platforms to apply for a…
Read MoreBYD says fate of lithium project is in hands of Chile government
BYD said the timing of its lithium project in Chile remains up in the air as the Chinese electric vehicle juggernaut continues to negotiate with authorities in the South American nation. In April last year, BYD was granted access to preferential prices for lithium carbonate produced by Chile’s SQM to feed a plant that would…
Read MoreIndonesian palm oil output set to fall on dry weather, old trees
THE outlook for Indonesia’s palm oil harvest has dimmed as dry weather and ageing trees crimp production in the world’s top grower, which will likely tighten global supply and keep prices elevated. Output of the tropical oil this year is expected to be flat or as much as 5 per cent lower than in 2023,…
Read MoreAustralia’s Guzman y Gomez profit beats forecast in first earnings since IPO
AUSTRALIA’S Guzman y Gomez reported a surge in full-year profit, outperforming its prospectus forecast after the Mexican-themed fast-food chain’s bumper June debut. The Sydney-based company reported pro forma net profit after tax of A$5.7 million (S$5 million) for the 12 months ended Jun 30, 71 per cent ahead of its prospectus target and up 94…
Read MoreChina’s Xpeng aims to manufacture EVs in Europe to blunt tariffs
XPENG is looking for a manufacturing site in Europe, making it the latest Chinese electric vehicle (EV) maker seeking to mitigate the impact of import tariffs by building its cars in the region. Volkswagen’s (VW) Chinese partner is in the initial stages of selecting a site in the European Union as part of its future…
Read MoreUK shop prices dip for first time in nearly 3 years: survey
BRITISH shop prices fell in annual terms this month for the first time since October 2021, pushed down by summer sales of clothes and household goods, a survey showed on Tuesday. The British Retail Consortium said shop prices fell by 0.3 per cent in August compared with the same month in 2023, after a 0.2…
Read MoreApple to hold ‘Glowtime’ iPhone 16 launch event on Sep 9
APPLE has sent out invitations for a product launch event at its headquarters on Sep 9, when it’s set to announce details of the iPhone 16 and other new devices. The presentation will be held at the Steve Jobs Theater at Apple Park in Cupertino, California, the company said on Monday (Aug 26). The theme…
Read MoreNike push in China to include tour with NBA stars Doncic, Tatum
NIKE’S Jordan brand said it is taking several of its top sponsored athletes on a tour of China in a new push to promote its product lines in the crucial growth market. Dallas Mavericks guard Luka Doncic, New Orleans Pelicans forward Zion Williamson and Jayson Tatum from the Boston Celtics, who all have signature sneakers…
Read MoreIkea pilots platform for secondhand furniture in Oslo, Madrid
IKEA is trialling an on-line marketplace where customers can connect to buy and sell pre-owned items made by the Swedish furniture manufacturer. The marketplace, called Ikea Preowned, will run until December and be centred on the cities of Oslo, Norway and Madrid, Spain, according to emailed comments by Tolga Oncu, the head of retail at…
Read MoreCanada to hit China with tariffs on electric vehicles, steel
Canada will impose new tariffs on Chinese-made electric vehicles, aluminium and steel, lining up behind western allies and taking steps to protect domestic manufacturers. The government announced a 100 per cent levy on electric cars and 25 per cent on steel and aluminium, confirming an earlier report from Bloomberg News. Prime Minister Justin Trudeau unveiled…
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