Asia feels the sting of India's onion export ban

India's ban on the export of onions has driven up prices of the vegetable for Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year.
21 December 2023, 05:43 AM

Toyota recalling 1.12 million vehicles over potential air bag issue

Toyota Motor said on Wednesday it will recall 1.12 million vehicles worldwide because a short circuit in a sensor could cause air bags not to deploy as designed.
21 December 2023, 05:37 AM

Samsung to set up chip packaging research facility in Japan

South Korea's Samsung Electronics will invest around 40 billion yen ($280 million) over five years in a facility for research into advanced chip packaging it will set up in Japan, according to an announcement by the city of Yokohama.
21 December 2023, 05:29 AM

Toshiba delisted after 74 years, faces future with new owners

Toshiba was delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal that brought down one of Japan's biggest brands and ushered in a buyout and an uncertain future.
20 December 2023, 06:06 AM

China leaves lending benchmark rates unchanged as expected

China stood pat on benchmark lending rates at the monthly fixing on Wednesday, matching market expectations, after the central bank kept its medium-term policy rate steady earlier last week.
20 December 2023, 06:00 AM

Red Sea attacks force rerouting of vessels, disrupting supply chains

Attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea are disrupting maritime trade and prompting US efforts to build a coalition to deal with the threat, as freight firms reroute around the Cape of Good Hope to avoid the Suez Canal.
19 December 2023, 07:20 AM

Apple to halt US sales of Series 9, Ultra 2 smartwatches over patent dispute

Apple said on Monday it would pause sales of its Series 9 and Ultra 2 smartwatches in the United States from this week, as it deals with a patent dispute over the technology that enables the blood oxygen feature on the devices.
19 December 2023, 07:00 AM

Singapore's Atomionics taps gravity, AI in hunt for critical minerals

Singapore-based start-up Atomionics has had the first commercial deployment of its technology that uses gravity and artificial intelligence to define ore bodies, potentially cutting costs and speeding up minerals projects key to the energy transition.
19 December 2023, 06:40 AM

Panama says its canal produced record revenue despite drought

The Panama Canal delivered $2.5 billion to the national treasury for last year's operations, the government said Monday, despite record-low water levels that limited ship transits.
19 December 2023, 05:50 AM

How Swiss authorities bungled Credit Suisse oversight

About six months before Credit Suisse was sold to rival UBS in a weekend rescue, the head of the Swiss central bank wanted to inject 50 billion Swiss francs ($57.6 billion) into the lender and nationalise it, according to three sources with direct knowledge of the matter.
18 December 2023, 18:20 PM

Oil climbs on drop in Russia exports, Red Sea jitters

Oil prices rose in Asian trade on Monday, rising nearly 1% in early trade, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption.
18 December 2023, 06:55 AM

Chinese firms look to Malaysia for assembly of high-end chips, sources say

A growing number of Chinese semiconductor design companies are tapping Malaysian firms to assemble a portion of their high-end chips, keen to hedge risks in case the US expands sanctions on China's chip industry, sources said.
18 December 2023, 06:50 AM

China's economic conditions to improve in 2024 - officials

China's economy is expected to see more favourable conditions and more opportunities than challenges in 2024, state media said citing officials of the Chinese Communist Party's finance and economy office.
18 December 2023, 06:10 AM

Asian fertiliser buyers turn away from key exporter China amid growing curbs

Asian fertiliser buyers are seeking alternatives to Chinese supplies on concerns the world's top exporter has become an increasingly unreliable supplier after curbs on shipments to protect its domestic market, buyers and analysts said..China is the world's biggest exporter of phosphate and
18 December 2023, 05:27 AM

Nissan to export China-developed EVs to global markets

Nissan Motor (7201.T) said on Sunday it would sell China-developed electric vehicles (EVs) globally as it struck a deal with the country's top university to leverage local resources to accelerate research and development on electrification.
17 December 2023, 05:58 AM

More shipping giants suspend passage via Red Sea after attacks

Two more major shipping firms, Mediterranean Shipping Company and CMA CGM, said on Saturday they were suspending passage through a Red Sea strait vital for global trade, after Yemeni rebel attacks in the area.
17 December 2023, 05:49 AM

Has the Fed won the battle against inflation?

The US Federal Reserve's decision to hold its key lending rate on Wednesday and pencil in three interest rate cuts next year has fueled optimism that its inflation battle is won.
17 December 2023, 05:44 AM

Canada print media to get two-thirds of Google's payment to news outlets

Canada's print media will receive nearly two-thirds of an annual Can$100 million (US$75 million) payment from Google to the country's news outlets in exchange for distribution of their content, the federal government announced Friday.
16 December 2023, 07:46 AM

Shipping firms suspend Red Sea traffic after Yemen rebel strikes

Two of the world's largest shipping firms, Maersk and Hapag-Lloyd, said Friday they were suspending passage through a Red Sea strait vital for global commerce, after Yemeni rebel attacks in the area..The Iran-backed Huthis, who control much of Yemen but are not recognised internationally,
16 December 2023, 06:40 AM

US opens probe into over 450,000 Nissan vehicles on engine failure concerns

A US auto safety regulator said on Friday it will open an investigation into about 454,840 Nissan vehicles over reports alleging engine failure that can lead to a loss of motive power with no ability to re-start.
16 December 2023, 06:04 AM