Taiwanese chipmaker Foxconn has registered strong year-end holiday sales and said customers were buying well in China and the United States. The company’s sales stood positive for the same season last year. The fourth quarter is traditionally the busiest season for Foxconn as the race is to supply smartphones, tablets and other electronics to major […]
Since China is the world’s largest trading nation, a slowdown in its economy is likely to affect its trading partners. Certain Asian nations like Taiwan, Malaysia, Korea and Thailand and African countries such as Congo, Zambia, Angola and Gabon are likely to be more vulnerable due to their significant exposure to China, CareEdge Ratings has […]
Foxconn, Apple’s largest contract electronics manufacturer, shares dropped by three per cent on Monday after the Chinese tax officials launched a probe into the land used by the company. Chinese state-sponsored media said some of Foxconn’s key subsidiaries in China were the subject of tax audits and that China’s natural resources department had also conducted […]
Apple’s latest flagship, the iPhone 15, is experiencing lackluster sales in China, raising concerns for the tech giant in one of the world’s most critical markets. Market analysis from Counterpoint Research has revealed a 4.5 per cent drop in sales compared to its predecessor, the iPhone 14, during the first 17 days after its release. […]
Investors are focusing on a tighter supply outlook as oil prices rose on Monday. This comes after Moscow issued a temporary ban on fuel exports while remaining cautious about further rate hikes that could dampen demand. Brent crude futures increased by 0.5 per cent, or 48 cents, to USD 93.75 a barrel by 0110 GMT […]
The global coffee industry has seen remarkable expansion in recent years, with growing demand for coffee surging by 28.6 million kilogram bags, far exceeding production, Vanusia Nogueira, Executive Director, International Coffee Organisation told BW Retail World. In the past three years, coffee production and consumption have surged, leading to a deficit in the market, she […]
Shein is taking steps to expedite shipping times for its customers in the United States by sending more low-priced apparel and home goods to its U.S. warehouses from China. This strategic move, revealed through data from the global trade analysis firm ImportGenius and exclusively shared with Reuters, aims to reduce the wait times that many […]
Chinese conglomerate Alibaba has announced plans to make its artificial intelligence (AI) model, Tongyi Qianwen, widely available to the public. The Chinese regulatory has approved the plan, according to a news report published on its WeChat account. The report also mentioned that in the near future, an open source version of the large language model […]
India has imposed an anti-dumping duty on some Chinese steel for a period of another five years, according to an official gazette by the Ministry of Finance. An anti-dumping duty of USD 613 per tonne has been imposed on flat-base steel wheels from China, according to a notification on Monday. Such duty on steel wheels […]
Daniel Zhang, the former chief of Alibaba Group, has made the decision to step down from his role leading the company’s cloud division, introducing a new layer of uncertainty to China’s largest e-commerce company. This development comes just months after Zhang had agreed to take charge of the cloud division. The news of Zhang’s departure […]
