Posts by Stephanie Irvin
MUFG said to near deal for stake in India’s Shriram
[TOKYO] Mitsubishi UFJ Financial Group is nearing a deal to buy a minority stake in India’s Shriram Finance, according to people familiar with the matter, the latest foreign bank seeking to build a presence in the world’s most populous country. MUFG may invest more than US$3.2 billion to buy a stake of around 20 per…
Read MoreGerman regulator orders oversight, limits on GIC-backed online bank N26
The measures mark the second time since 2021 that BaFin has directed a special monitor to oversee the fast-growing Berlin-based lender [FRANKFURT] Germany’s financial regulator BaFin on Monday (Dec 15) announced stricter oversight of Berlin-based online bank N26, including limits on new business in the Netherlands and the instalment of a special monitor, after finding…
Read MoreThai baht is too strong, impacting economy, finance minister says
[BANGKOK] Thailand’s baht is too strong and affecting its export-driven economy, the country’s finance minister said on Monday (Dec 15), as the currency reached its highest level against the dollar in more than four years. The baht traded at 31.46 per dollar on Monday. It has strengthened by 9 per cent against the dollar so…
Read MoreMiddle East oil market weakens as glut concerns gain traction
The IEA, meanwhile, projects output will exceed consumption by 3.8 million barrels a day in 2026 [SINGAPORE] The Middle Eastern oil market has weakened in recent weeks on concern that regional supplies will outstrip demand, adding to signs of a softening global picture that’s weighed on benchmark crude futures. Among widely watched metrics, the premium…
Read MoreRebate cuts won’t hurt Singapore’s momentum as South-east Asia’s top EV market in 2026
The Republic’s EV take-up is expected to rise due to a continued price advantage and new benefits for electric heavy vehicles [SINGAPORE] The Republic’s electric vehicle (EV) adoption rate should continue to grow in 2026 despite a cut in incentives for passenger EVs, say industry observers. Passenger EV sales will be driven by cost-effective China…
Read MoreXpeng in negotiations partner with EPMB to start EV production in Malaysia
Chinese EV maker aims to make Malaysia a base for expansion across Asean’s right-hand-drive markets [SHANGHAI] Xpeng said on Friday (Dec 12) that it is in negotiations to partner EP Manufacturing Bhd (EPMB) to begin mass electric vehicle production in Malaysia in 2026 as it ramps up global expansion. Xpeng hopes to leverage EPMB’s existing…
Read MoreIntel has tested chipmaking tools from firm with sanctioned China unit: sources
Two of ACM’s units, based in Shanghai and South Korea, are barred last year from receiving US technology [WASHINGTON/SAN FRANCISCO] Chipmaker Intel, has tested chipmaking tools this year from a toolmaker with deep roots in China and two overseas units that were targeted by US sanctions, according to two sources with direct knowledge of the…
Read MoreFMC to launch restructuring plan, targets plant closures and Asia cost cuts
[BENGALURU] Agrichemicals firm FMC said on Friday (Dec 12) that its board has approved a restructuring plan, aimed at cutting costs, shutting down high-cost plants and shifting production to lower-cost locations. FMC, a key player in the insecticide and fungicide market, has been facing intensified competition in key markets, prompting it to reduce prices and…
Read MoreChinese AI euphoria obscures a gloomier technological reality
Washington and its allies are not supplying the country with the gear required to make the most sophisticated AI chips [TAIPEI] Moore Threads Technology’s phenomenal debut this month, China’s most successful coming-out party since 2019, capped a year in which investors have grown increasingly excited about the prospects for the country’s artificial intelligence (AI) chip…
Read MoreIntel nears US$1.6 billion deal for AI chip startup SambaNova
[NEW YORK] Intel is in advanced talks to acquire artificial intelligence (AI) chip startup SambaNova Systems for about US$1.6 billion, including debt, according to sources familiar with the matter. A deal for Palo Alto, California-based SambaNova could come together as soon as next month, said the sources, who asked not to be identified because the…
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