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The International Monetary Fund (IMF) said its executive board has approved the seventh and eighth reviews of Kenya's program, allowing the East African nation to receive 606 million US dollars. The funds will support Kenya's efforts to rebuild fiscal and external buffers as well as enhance resilience to climate shocks, the IMF said in a statement issued Wednesday evening. The loan facility, which will be disbursed immediately, would bring the IMF's total funding under the e...
IMF approves reviews for Kenya to receive 606 million USD
The US smartphone market’s sell-in decreased 4 per cent (on-year) in Q3, driven mainly by Apple and Samsung weakness, a report showed on Thursday. Apple’s shipments were down primarily due to lower demand resulting from continued low upgrade rates as reported by the three major US carriers in Q3 2024, according to Counterpoint Research’s latest US Market Monitor Quarterly Smartphone Tracker. Research Director Jeff Fieldhack said that Apple sell-in was muted in Q3...
US smartphone market`s sell-in down 4 pc in Q3
Hyundai Motor on Thursday unveiled the concept of its upcoming passenger hydrogen fuel cell electric vehicle (FCEV) named Initium that comes with an extended driving range and ample hydrogen fuel storage capacity. Initium is a concept by Hyundai that reflects the product and design direction of a passenger FCEV set for release in the first half of next year, Yonhap news agency reported. Named after the Latin word for beginning, Initium symbolises Hyundai's role as a pion...
Hyundai Motor unveils new hydrogen-based EV concept
Samsung Electronics on Thursday hinted at the possibility of supplying its advanced high bandwidth memory (HBM) chips to the US AI giant Nvidia in the near future. The South Korean tech giant has been struggling to have its HBM3E chips pass Nvidia's quality tests, while its local chip making rival SK hynix recently began mass-producing industry-leading 12-layer HBM3E chips, Yonhap news agency reported. "We are currently mass-producing both eight-layer and 12-layer HBM3E p...
Samsung Electronics signals progress in HBM chip supply to Nvidia
Samsung Electronics on Thursday said its net profit surged in the third quarter, but its sluggish artificial intelligence chips weighed heavily on its flagship semiconductor business. The tech giant posted a net profit of 10.1 trillion won ($7.3 billion) for the July-September period, up 72.8 per cent from a year earlier, the company said in a regulatory filing, Yonhap news agency reported. Its operating profit surged 277.4 per cent to 9.18 trillion won from 2.43 trillion won a ye...
Samsung Electronics Q3 net profit surges, but chip business remains sluggish
South Korea's industrial output fell from a month earlier in September on dwindling production in the semiconductor and other manufacturing sectors, data showed on Thursday. According to the data compiled by Statistics Korea, retail sales, a gauge of private spending, also went down amid signs of weaker economic growth, while facility investment rebounded on-month, Yonhap news agency said. Industrial production fell 0.3 per cent on-month, following a 1.3 per cent increase in A...
Industrial output in S. Korea fell in September over weak chip production
Asian stocks slid on Thursday as chip-sector stocks tracked overnight declines by Wall Street peers and Facebook owner Meta Platforms warned of accelerating costs for artificial intelligence. More megacap tech earnings are due later in the day from Apple and Amazon. The yen hovered close to a three-month low against the dollar, weighed down by political instability after a drubbing for Japan's ruling coalition in parliamentary elections last weekend, which could delay a normalisatio...
Asian stocks slip as tech drags, yen near 3-month low before BOJ decision
This Diwali, Prodigy Finance extends its warmest wishes to all Indian students, whether studying in India or abroad. Diwali is all about light, hope, and new beginnings, and it resonates with every student who is aspiring for higher education. This year, the company has introduced some new courses and universities in the UK, expanding on its list of 480+ supported global universities across 19 countries. This will give more options to students who want to study abroad. Among the esteemed i...
Prodigy Finance announces its expansion with five top London Universities, offering 50 new courses this Diwali!
Searches for travel to Vietnam saw a big jump globally from July to September, VnExpress reported on Wednesday, citing the online travel agency Agoda. In July searches rose 4 per cent year-on-year, while in August, there was a 31 per cent surge. September saw a dramatic 84 per cent spike, as globally, travellers began planning for Christmas and New Year holidays, according to Agoda. Vietnam recorded over 12.7 million international arrivals in the first nine months of 2024, an i...
Global searches for Vietnam`s travel surge
New automobile sales during the first nine months of the year fell over 8 per cent from a year earlier amid high borrowing costs and a slowdown in global electric vehicle demand, industry data showed on Wednesday. According to the data from the Korea Automobile and Mobility Association (KAMA), registrations of new cars during the January-September period totalled 1,209,154 units, down 8.7 per cent from a year ago. It marked the lowest recording for the nine-month period since the ...
New car sales dips to 11-year low in South Korea
Hyundai Motor on Wednesday unveiled a teaser image of its upcoming all-electric Ioniq 9 sports utility vehicle, highlighting its massive-yet-sleek exterior design. The teaser for the three-row electric SUV presents the overall silhouette and the model's elongated wheelbase. Hyundai said the Ioniq 9 draws inspiration from the sleek exteriors and cozy interiors of boats, reports Yonhap news agency. The Ioniq 9 symbolises the largest vehicle class in Hyundai Motor's Ioniq lin...
Hyundai Motor offers 1st look of upcoming Ioniq 9 electric SUV
Apple on Tuesday introduced the all-new Mac mini powered by the M4 and new M4 Pro chips, and redesigned around Apple silicon to pack an incredible amount of performance into an even smaller form of just 5 by 5 inches. With M4, Mac mini delivers up to 1.8x faster CPU performance and 2.2x faster GPU performance over the M1 model. With M4 Pro, it takes the advanced technologies in M4 and scales them up to tackle even more demanding workloads. According to Apple, for more convenien...
Apple introduces all-new Mac mini that delivers gigantic performance
Asia shares eased on Wednesday on the back of weakness in China, as investors brace for a tightly contested U.S. election that could have huge ramifications for the world's second-largest economy, even as Beijing tries to shore up growth. Gold rose to an all-time high as jitters over the close U.S. presidential race supported the yellow metal, while bitcoin also flirted with a record peak as markets weigh the prospect of a victory by Republican candidate Donald Trump. MSCI's bro...
Asia shares stumble on China headwinds; gold and bitcoin buoyant
Indonesia is considering a plan to import 1 million metric tons of rice from India in 2025 to secure supply until its main harvest, Coordinating Minister for Food Affairs Zulkifli Hasan said after a meeting of food and agricultural officials on Tuesday. Indonesia's rice output is estimated to fall 2.43% this year to 30.34 million metric tons, due to a delay in planting and harvest season amid longer dry weather in 2023, the statistics bureau said earlier this month. "We need an...
Indonesia considers importing 1 million tons of rice from India next year, minister says
Elon Musk, the world’s richest person, has emerged as both a surrogate for Donald Trump and a lightning rod for the Republican’s campaign. The CEO of electric carmaker Tesla, and Space X, which has set its sight on human colonies on Mars, and with a controlling interest in the social media platform X that was once known as Twitter, as well as a slew of tech and science companies, Musk has been out campaigning for and with Donald Trump. In an unlikely partnership, the g...
Elon Musk emerges as Donald Trump`s campaign lightning rod
South Korea will continue to pursue close supply chain cooperation with the United States regardless of the outcome of the upcoming US presidential election, the trade minister said on Tuesday. Trade Minister Cheong In-kyo made the statement during a meeting with experts to prepare for the outcome of the US election, slated for November 5 (US time), according to the Ministry of Trade, Industry and Energy. "Regardless of the election outcome, South Korea will work to strengthe...
South Korea seeks close supply chain ties with US regardless of election outcome
Samsung Electronics, facing a challenging market environment and weaker-than-expected third quarter earnings, is preparing new strategies to drive recovery in early 2025, analysts said on Tuesday. The world's largest memory chip maker reported a preliminary operating profit of 9.1 trillion won ($6.8 billion) for the third quarter, missing market expectations of over 10 trillion won. Its operating profit more than trebled compared with the same period a year ago, but retreated ...
Samsung seeks recovery amid disappointing Q3 earnings, stock drop
Apple Intelligence is quickly adding support for more languages and in April next year, English (India) will be supported along with several others, the company has announced. The tech giant has announced the first set of Apple Intelligence features for iPhone, iPad, and Mac users is now available through a free software update with the release of iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1. Apple Intelligence is the personal intelligence system that harnesses the power of Apple...
Apple Intelligence to support English (India) language with April software update
The Indonesian government announced the opening of investment opportunities for 60 new oil and gas blocks across 14 regions. Ariana Soemanto, director of upstream oil and gas development at the Ministry of Energy and Mineral Resources, said in a statement on Monday that these blocks are ready for exploration and development over the next four years, reports Xinhua news agency. "Based on 34 joint studies, we have identified 60 oil and gas blocks available for development. We i...
Indonesia opens investment in 60 new oil and gas blocks
Apple on Monday announced the new iMac, featuring the powerful M4 chip and Apple Intelligence, along with a nano-texture display option, a 12MP Center Stage camera, and Thunderbolt 4 connectivity — in a strikingly thin design. According to the tech giant, with M4, iMac is up to 1.7x faster for daily productivity, and up to 2.1x faster for demanding workflows like photo editing and gaming, compared to iMac with M1. The new iMac is available in an array of beautiful new colour...
Apple introduces new iMac with M4 chip, powerful features
Asian stocks were mixed in volatile trading on Tuesday as investors girded for three days of tech megacap earnings reports on Wall Street, kicking off with Google parent Alphabet later in the day. The dollar drifted not far from a three-month high with one of the Federal Reserve's preferred employment gauges - the JOLTS job openings report - due on Tuesday, ahead of highly anticipated monthly non-farm payrolls data on Friday. U.S. Treasury yields eased from three-month peaks. The ye...
Asian stocks mixed, dollar drifts before megacap earnings, jobs data
Investments in India by Swiss companies such as engineering group ABB and transport firm Kuehne+Nagel are on the rise, with a $100 billion regional trade deal expected to further open it up to businesses long geared towards China. India's appeal has already reflected a broader shift among businesses in Europe eager to balance the costs of a U.S.-China trade spat and recognition that the Chinese economy is, by comparison to India, losing steam. But the trade and economic partnership ...
Swiss companies set sights on India as $100 billion trade pact promises more opportunities
Bank of Korea (BOK) Governor Rhee Chang-yong said exchange rates have emerged as a major factor again in deciding on policy rates, according to the central bank on Sunday. The central bank governor made the remarks in a press conference on the sidelines of meetings of Group of 20 finance ministers and central bank chiefs, and the International Monetary Fund-World Bank Group in Washington, DC. "The exchange rates have risen far above what we hoped for, and the pace of (the dol...
Exchange rates re-emerge as major factor in rate decision: Bank of Korea Guv
The chiefs of Hyundai Motor Group and Toyota Motor Corp said on Sunday that the two carmakers will cooperate in the motor sports division in their first public appearance at a racing event. Hyundai Motor Group Executive Chair Euisun Chung and Toyota Motor Chairman Akio Toyoda attended the Hyundai N x Toyota Gazoo Racing event held at Everland Speedway in Yongin, 41 kilometers south of Seoul. Hyundai's high-performance brand N and Toyota's Gazoo Racing, the motorsport divis...
Hyundai, Toyota to cooperate in motor sports division
Indian billionaire Prashant Ruia is building a new refinery on the banks of the Mersey that will run on hydrogen, making it the UK’s first emissions-free plant From the roof of a building in the industrial heart of the North West, a landscape of fields and smoke-chugging chemical plants is spread out before us. The Welsh hills make up one horizon, the River Mersey and Cammell Laird shipyard another, as per a Sunday Times Business profile. It’s a glorious Cheshire day, ...
UK is racing ahead of world on green energy: Prashant Ruia
The yen hit a three-month low on Monday as Japan's ruling party lost its parliamentary majority, while oil tumbled after Israel's weekend strike on Iran bypassed oil or nuclear targets. Japan's Nikkei, after initially falling, rose 1.6% and the yen slipped as far as 0.5% to 153.3 per dollar following the ruling Liberal Democratic Party's (LDP) weakest result since 2009 in Japan's weekend election. Brent crude futures were 4.2% lower and traded as cheaply as $67.80 a ...
Oil slides on Mideast respite, yen down as Japan government loses majority
SK hynix, South Korea's second-biggest chipmaker after Samsung Electronics, is likely to overtake the bigger rival this year for the first time in the chip business' annual operating profit, brokerages said on Sunday. SK hynix currently dominates the market for high-bandwidth memory (HBM) semiconductors used in artificial intelligence chipsets. It is the sole HBM supplier to US AI chip giant Nvidia. But Samsung Electronics lags behind its smaller rival as it still awaits q...
SK hynix likely to overtake Samsung in chip business' annual profit
The Cambodia Securities Exchange (CSX) has recorded more than 57,000 trading accounts, CSX Chief Executive Officer Hong Sok Hour said here on Friday. "We expect the number of trading accounts will reach around 61,000 by the end of 2024, with 15,000 new trading accounts being opened this year alone," he said in a speech during the opening ceremony of the Cambodia Stock Market Exhibition 2024 in the capital Phnom Penh. He added that the bourse has experienced steady ...
Cambodia`s bourse records rise in new trading accounts
German Chancellor Olaf Scholz wants to deepen defence ties with New Delhi and bring the two countries' militaries closer, he said on Friday, after meeting Indian Prime Minister Narendra Modi. Germany has not traditionally had close defence ties with India, but is now pitching to join the latter's effort to wean its arms base from decades of dependence on Russia, at a time when the West seeks to counter China's growing influence. "Our overall message is clear, we need mo...
Germany, India look to boost ties on defence, green energy
South Korean biopharmaceutical firm Celltrion on Friday said it will spend around 100 billion won ($72.3 million) to buy back its shares for the fourth time this year in a bid to increase its shareholders' value. According to the company, the buyback of a total of 537,924 shares will begin next week, Yonhap news agency reported. It will mark the fourth share buyback by Celltrion this year, following such moves in March, April, and June. The combined worth of the company'...
South Korean drugmaker Celltrion to buy back its shares for 4th time in 2024
ChatGPT maker OpenAI is reportedly planning to launch its next AI model called ‘Orion’ in December this year which is potentially up to 100 times more powerful than GPT-4. According to a report in The Verge, unlike the release of OpenAI’s last two models — GPT-4o and o1 — Orion won’t initially be released widely through ChatGPT. The report mentioned, citing sources, that the Sam Altman-run AI company is planning to grant access to companies firs...
OpenAI plans to launch new powerful AI model `Orion` by December
Kenyan President William Ruto urged private investors to fully explore the country's geothermal energy potential, noting that only 10 per cent of it has been investigated. Speaking at the groundbreaking ceremony for the 35 megawatt (MW) Orpower 22 geothermal power plant in Menengai, Nakuru County, northwest Kenya, Ruto highlighted the untapped opportunities within the sector, Xinhua news agency reported. "So far, we have tapped only 950 MW, a small fraction of our geother...
Kenyan President encourages more private investment in geothermal energy exploration
The euro rose to $1.08 from a near four-month low as data suggested the European Central Bank (ECB) may cut rates by only 25 bps in December instead of 50. The HCOB Eurozone Services PMI eased to 51.2 in October, indicating a continued contraction in private sector activity, with new orders falling for the second month. In contrast, the HCOB Manufacturing PMI rose to 45.9, suggesting a slight slowdown in decline. Consumer confidence in the Euro Area increased to -12.5, the highest since Febru...
Eurozone Economic Indicators Reflect Slowdown and Interest Rate Prospects By Amit Gupta ,Kedia Advisory
The British Pound climbed towards $1.30, recovering from a two-month low, following speculation that Finance Minister Rachel Reeves may allow more borrowing in the upcoming budget. This potential shift in fiscal rules could free up tens of billions for capital spending, delaying anticipated Bank of England rate cuts. Concerns over persistent inflation were echoed by Governor Andrew Bailey, leading market expectations for a November rate cut to drop significantly. Meanwhile, flash PMI data ind...
UK Pound Rises as Borrowing Plans Spark Market Optimism by Amit Gupta , Kedia Advisory
Global stocks were set to end the week lower as looming U.S data and Japan's weekend election curbed a rally already knocked off course by the close-run race for the White House and expectations the Federal Reserve will resist rapid rate cuts. MSCI's broad world equity index was steady on the day but heading for a 1.2% slide on the week. U.S. Treasuries drew buyers on Friday but still headed for a sixth straight weekly loss, futures tipped Wall Street's S&P 500 for mild ...
Stocks head for weekly loss as US election nerves mount
Vietnam expects to have 20 reputable blockchain brands on blockchain technology platforms in the region by 2030, according to the newly approved national strategy on the application and development of blockchain technology. The strategy targets to ensure Vietnam is capable of mastering and applying blockchain technology in all socio-economic fields, realising the goal of becoming a stable and prosperous digital nation, Xinhua reported. According to the strategy, by 2025, 10 research and...
Vietnam aims to have 20 reputable blockchain brands by 2030
In a groundbreaking move set to revolutionise business operations, IGT Solutions on Thursday said it has partnered with Amazon Web Services (AWS) to launch TechBud.AI, a cutting-edge Generative AI platform aimed at streamlining recruitment and procurement processes. This collaboration marks a significant step forward in harnessing the power of Generative AI to drive efficiency and innovation across industries. IGT Solutions' newly unveiled Recruitment.AI platform, built on AWS...
IGT Solutions pioneers GenAI innovations with AWS to transform recruitment, procurement processes
Yotta Data Services on Thursday unveiled six artificial intelligence (AI) platform services, in collaboration with global graphics giant Nvidia, under its ‘Shakti Cloud’ platform to accelerate AI adoption for businesses, researchers, and innovators by offering state-of-the-art capabilities at competitive prices. Announced during the ‘Nvidia AI Summit’ in Mumbai, these AI models will be available through a token-based system and GPU seconds model, making ...
Yotta Data Services, Nvidia introduce 6 new AI platform services for Indian firms
Chip behemoth Nvidia launched a lightweight artificial intelligence model on Thursday for India's widely-used Hindi language, as it looks to tap into a growing market for AI technologies. Chief Executive Jensen Huang is set to chat with the chairman of conglomerate Reliance Industries, Mukesh Ambani, who is also Asia's richest man, at a conference in the business capital of Mumbai, the California-based company said. Nvidia is rolling out its new small language model, dubbed Nemo...
Nvidia rolls out Hindi-language AI model in India as CEO Huang visits
South Korea's economy grew at a slower-than-expected rate in the third quarter of the year amid softening export growth, central bank data showed on Thursday, upping the possibility that the Bank of Korea may conduct another rate cut earlier than expected after its first rate reduction in over three years this month. The country's real gross domestic product -- a key measure of economic growth -- gained 0.1 percent on-quarter in the July-September period, according to p...
South Korea`s economy grows weaker than expected at 0.1 pc in Q3
Samsung Biologics Co on Wednesday said its third-quarter net profit increased 10 per cent from a year earlier, driven by record sales. Net profit for the July-September period came to 264.5 billion won ($191.3 million), compared with 240.4 billion won a year ago, the company said in a regulatory filing, Yonhap news agency reported. Its operating income rose 6.3 per cent on-year to 338.6 billion won and sales jumped 14.8 per cent to a record high of 1.18 trillion won for the third ...
Samsung Biologics Q3 net profit gains 10 pc on record sales
Asian shares fell on Thursday, while the dollar held near three-month highs and U.S. yields rose as uncertainty over the U.S. election outcome kept markets on edge, though Tesla's forecast-topping earnings provided some comfort for investors. The combination of higher U.S. Treasury yields, U.S. election uncertainty and growing bets the Federal Reserve may be more restrained in their easing pace capped risk sentiment. Adding to the market nerves is rising expectations of a possible retu...
Asia shares fall on US election anxiety; Tesla earnings provide some cheer
The payments industry is evolving at pace. Our clients and their end-users increasingly expect payment services that are instant and available 24x7. In our interconnected digital world, moving money seamlessly across borders is vital, whether the payments are big or small. This new Citi GPS report brings together our latest thinking on cross border payments, looking at how things stand now and how the payments landscape is likely to evolve against this backdrop of rapid-fire technologic...
Citi`s Latest GPS Report: Cross-Border Payments 24x7 - Faster, Simpler, Smarter
Gold prices jumped to record high and the dollar was on the rise again on Wednesday, keeping the pressure on the yen and the euro, while stocks in Asia stuttered as investors were reluctant to place major bets ahead of a hotly contested U.S. election. The shifting expectations around how fast and deep the Federal Reserve will cut rates have also hurt risk sentiment, with traders now anticipating the U.S. central bank to be measured in its easing. That has taken U.S. Treasury yields to a...
Stocks stumble, dollar and gold rise as traders weigh US rates, election
South Korean Finance Minister Choi Sang-mok has assumed the chairmanship of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting for next year as the country will host the upcoming session for the first time in 20 years, his office said on Tuesday. Choi officially assumed the chairmanship Monday as Choi attended the latest APEC meeting held in Lima, Peru, where participants also discussed regional and global economic situations, sustainable finance and digital ...
South Korea's Finance Minister assumes chairmanship of next year's APEC meeting
Kenneth H. da Nobrega, Brazil's Ambassador to India, has emphasised that the bilateral relationship between India and Brazil is advancing to a new level, underscoring their role as close partners in fostering global economic growth. Speaking to IANS on the sidelines of 'NDTV World Summit 2024' event here on Monday, Nobrega expressed optimism about the future of India-Brazil relations, highlighting how the partnership is expanding beyond traditional areas of cooperat...
India-Brazil relations entered new era driven by economic growth: Ambassador Nobrega
Asian stocks turned lower and the dollar stood by multi-month peaks on Tuesday as a sharp sell-off in bonds and a jump in gold suggested investors are hunkering down ahead of the U.S. election. Benchmark 10-year Treasury yields rose 11 basis points overnight and a further 1 bp in early Asia trade to 4.19%. Gold hit a record high just above $2,740 an ounce on Monday and traded at $2,725 early on Tuesday. [US/][GOL/] Japan's Nikkei slid 1.1% in morning trade to hit its lowest since ea...
Bonds slide, stocks slip as US election looms
Institutional investments in the real estate sector witnessed an annual growth of 41% in Q3 2024, reaching USD 0.96 Bn. However, it sharply declined from USD 3.1 Bn record investments received in the previous quarter. Despite this significant quarterly decline of 69%, the outlook remains positive as investment nearly touches a billion mark. Source: Vestian Research The significant uptick in investments compared to the previous year is a testament to India’s robust economi...
Foreign investors infuse USD 436 Million in India`s Real Estate sector, marking a 139% YOY increase during Q3 2024 (July-Sep) - Vestian
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