KOREA CIRCUIT
To woo local chip makers, China sets up $47.5-billion fund
The third phase of National Integrated Circuit Industry Investment Fund has amassed 344 billion yuan ($47.5 billion) from the central government and various state-owned banks and enterprises, including Industrial & Commercial Bank of China Ltd, according to Tianyancha, an online platform that aggregates official company registration information. The fund was incorporated on May 24.
India comes full circuit: Global tech giants set sights on the country for electronics production
The critical factor to achieving India’s aspirations of being a global electronics manufacturing hub is to get the component piece right. With several key suppliers to marquee brands like Apple and Samsung setting up shop in India, some pieces of the puzzle have started fitting in. But a lot more needs to be done.
Amber Group signs MoU with South Korea’s Korea Circuit, YoungPoong Group Co.
Amber Group, a leading homegrown air-conditioner contract manufacturer, has signed an MoU with South Korea's Korea Circuit through its venture, Ascent Circuits. This collaboration aims to fortify PCB manufacturing in India by producing flex, HDI, and semiconductor substrates PCBs. The partnership will provide solutions to the mobile and semiconductor industry, covering the entire requirement of PCBs for various applications in India's electronics manufacturing growth story. The MoU and the acquisition of majority stakes in Amber Circuits have positioned Amber Group as a leader in the EMS space, offering new business opportunities and strengthening their EMS portfolio.
China's semiconductor state fund invests $2 billion in memory chip firm
The deal saw China Integrated Circuit Industry Investment Fund, also known as the "Big Fund", contribute to 33.15% of the total registered capital of Changxin Xinqiao, according to an update dated Oct. 26 to the company's registration information on the National Enterprise Credit Information Publicity System.
North Korea's leader is in Russia to meet Putin, with both locked in standoffs with the West
North Korean leader Kim Jong Un is traveling to Russia to meet with President Vladimir Putin. This rare encounter between the two leaders comes as they both seek support in their respective standoffs with the West. Kim is expected to seek economic aid and military technology for North Korea, while Putin may be looking to replenish ammunition stores for Russia's war in Ukraine. An arms deal between the two countries would violate sanctions, which Russia has supported in the past.
A shoebox sized circuit breaker can solve the EV charging mess
North Carolina-based Atom has spent nine years developing what it calls a better, smarter circuit breaker — a digital one driven by computer chips and cloud software, rather than the analog version that flips on or off based on physics and mechanics.
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Filatex Fashions hits upper circuit as it looks to acquire Sri Lankan firm
The Hyderabad-based Filatex Fashions is likely to carry out this deal for a consideration of $7.55 million or about Rs 62.33 crore. The company is in the process of reaching certain preliminary understandings for the proposed acquisition.
Multibagger penny stock hits upper circuit after Mauritius-based fund buys stake
The Hyderabad-based fashion company imported its machinery from South Korea and Italy for research and development (R&D) and is on an expansion spree and looking for both organic and inorganic growth opportunities, particularly in other developing countries, including the Indian subcontinent and Africa.
Streamlining the hydrogen ecosystem is essential for India to achieve net-zero targets
Electrolysers used in the production of hydrogen from water are electrochemical energy-conversion devices. These find application in most areas requiring decarbonisation, with higher potential in sectors such as transport and power, which are currently carbon-intensive.
China has painted itself into a semiconductor corner
For all intents and purposes, China has failed to achieve its semiconductor goals, and those tasked with realizing them are being brought to account. Beijing won’t be smarting at the loss of money — it’s been willing to burn cash — but at the lack of progress such expenditure was supposed to buy.
SGX Nifty up 55 points; here's what changed for market while you were sleeping
Asian stocks traded mixed on Friday morning, as the tailwind from a cheaper yen was offset by worries over US inflation and investors awaited China's GDP data due later in the day. MSCI's index of Asia-Pacific shares outside Japan was down by 0.10 per cent.
Hyundai to end domestic sales of Kona EVs after recalls: Reports
Cable news channel YTN said Hyundai was reviewing the end of Kona EV sales in South Korea, while the JoongAng Daily cited an unidentified source as saying sales would continue in Europe.
South Korea sees biggest rise in coronavirus cases since August
South Korea is struggling to contain a spike in new infections since it eased its stringent social distancing rules last month. The new cases are tied to hospitals, nursing homes, churches, schools, offices and family gatherings.
Mahindra's SsangYong close to signing binding agreement with US firm, Korean media reports
Mahindra had earlier announced that it will not make any further investments in the ailing SUV-maker and wanted to give up its controlling stake after being unable to turn around the operations of the company. The company’s board moved a special resolution at its AGM to reduce its shareholding in SsangYong to less than 50%, an indication of a new investor coming in rather than a complete sell out. Mahindra currently holds a 74.65% stake in SsangYong.
COVID-19: Singapore in talks with several countries to establish 'green lanes' for travel
The country's Trade and Industry Minister Chan Chun Sing said Singapore is in simultaneous discussions with as many countries as possible on forming green lanes, and that such discussions are taking place at a bilateral level, not a multilateral one.
Sensex crashes 3,935 points: What's behind market meltdown
Analysts say India has reached a crucial phase where it can either go China or Italy’s way.
Stock market investors lose Rs 46 lakh crore in 38 sessions; here’s why
Spooked by the coronavirus outbreak, BSE Sensex and NSE Nifty hit lower circuit on Friday.
Nifty, Sensex trading halted for 45 minutes, indices hit 10% lower circuit limits
After resuming trade, BSE benchmarks Sensex and Nifty recovered smartly.
What made Sensex, Nifty hit lower circuit today? Here are the key factors
All constituents of Nifty and Sensex were trading deep in the red.
Sensex, Nifty circuit limits for today
For Sensex, the next circuit (15 per cent) will be at 27,861 level.
Coronavirus hits Formula One racers; Haas, McLaren team members quarantined, tested for virus
McLaren said one team member had self-isolated in the team hotel as a precaution.
Ficci: Some drugs may not last beyond Feb because of virus crisis
India depends on China for around 70% of its bulk drugs and drug intermediates, according to industry estimates. This is the first-of-its-kind study based on feedback from the industry.
'Zero duty on open cell TV panels only till September 2020'
India imports finished open cell panels, which are used in making the LED panels, since there is no panel manufacturing facility in the country.
India-Korea FTA may shield Jio from higher telecom gear duty
Reliance Jio Infocomm buys such gear from Samsung, which enjoys duty-free status under a free trade pact.
Narendra Modi says India well on way to becoming global manufacturing hub
Samsung currently has over 10% of its overall production in India, which it aims to take to 50% over the next three years.
Foxconn’s local printed circuit boards push to give Make in India a boost
India had raised basic customs duty (BCD) on smartphones to 20% in the Union Budget from 15% earlier, which became effective February 1.
Reuters Sports News Summary
SPORTS:Reuters Sports News Summary
Reuters Sports Schedule at 0600 GMT on Wednesday, Sept. 14
SPORTS-NEWS-SCHEDULE AT 0600 GMT/:Reuters Sports Schedule at 0600 GMT on Wednesday, Sept. 14
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