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Foxconn to invest $600 million in India's Karnataka for iPhone components, chip-making machinery Taiwan's Foxconn will invest $600 million in two projects in the southern Indian state of Karnataka for chip equipment manufacturing and casing components for iPhones, the state government said on Wednesday. Some $350 million will go towards setting up the iPhone component unit which will generate 12,000 jobs, while Foxconn will tie up with Applied Materials in a $250 million project to make chip-making tools, the government said. Reuters was first to report on the investment plans on ...
Foxconn to invest $600 million in India's Karnataka for iPhone components, chip-making machinery
Foxconn to invest $600 million in India's Karnataka for iPhone components, chip-making machinery
Source: Reuters
2/08/2023 3:09:15 PM
Firm trade continues over Dalal Street Firm trade continued over the Dalal Street in early afternoon deals, with both Sensex and Nifty holding gains of over 0.30% each, aided by positive firm cues from other Asian markets along with heavy buying at IT, TECK and Realty counters. Sentiments remained positive, as India’s inflation based on wholesale price index (WPI) deflated for the third straight month in June, on the back of fall in prices of mineral oils, non-food Articles, crude petroleum & natural gas and electricity....
Firm trade continues over Dalal Street
Firm trade continues over Dalal Street
Source: Accord Fintech
14/07/2023 2:19:51 PM
100% committed to producing chips, display glass in India: Vedanta Chairman Vedanta Chairman Anil Agarwal on Thursday said that he is 100 per cent committed to produce semiconductors and display glass in India and have lined up partners for the same. Agarwal reacted after Taiwanese chip-making giant Foxconn announced it had withdrawn from a joint venture to manufacture chips with India-based industrial giant Vedanta. He said that India is a land of opportunities with huge potential. “We need several ventures to help India become a semiconductor and dis...
100% committed to producing chips, display glass in India: Vedanta Chairman
100% committed to producing chips, display glass in India: Vedanta Chairman
Source: IANS
13/07/2023 4:59:07 PM
Foxconn targets India's chip scheme after pulling plug on $19.5 billion JV Taiwan's Foxconn said it intends to apply for incentives under India's semiconductor manufacturing plan, a day after parting ways with Vedanta on a $19.5 billion chipmaking joint venture. Foxconn withdrew from the JV with Indian metals-to-oil conglomerate Vedanta on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. The world's largest contract electronics maker said on Tuesday it was working towards applying under India's Modified Pro...
Foxconn targets India's chip scheme after pulling plug on $19.5 billion JV
Foxconn targets India's chip scheme after pulling plug on $19.5 billion JV
Source: Reuters
11/07/2023 4:40:57 PM
Timeline: Foxconn withdraws from $19.5 billion Vedanta chip plan in India Taiwan's Foxconn said on Monday it had withdrawn from a joint venture with conglomerate Vedanta, in a blow to Indian Prime Minister Narendra Modi's chipmaking plans. Here is a timeline of how events have unfolded since the signing of the $19.5 billion joint venture: * Feb. 14, 2022: Foxconn partners with Vedanta to make semiconductors in India in a bid to diversify its business. Foxconn said it will be "a significant boost to domestic manufacturing of electronics in India&q...
Timeline: Foxconn withdraws from $19.5 billion Vedanta chip plan in India
Timeline: Foxconn withdraws from $19.5 billion Vedanta chip plan in India
Source: Reuters
10/07/2023 8:22:26 PM
India poised to deny funding for Vedanta-Foxconn chip venture The Indian government is poised to deny crucial funding for Anil Agarwal's chip venture, Bloomberg News reported on Tuesday, a setback to the billionaire's ambition to build India's 'own Silicon Valley.' The authorities are likely to inform the venture between Vedanta and Taiwan's Foxconn that it won't get incentives to make 28-nanometer chips, the report said, citing people familiar with the matter. The venture's application seeking billions in governmen...
India poised to deny funding for Vedanta-Foxconn chip venture
India poised to deny funding for Vedanta-Foxconn chip venture
Source: Reuters
31/05/2023 9:57:52 AM
FPI bought equity worth Rs 18,617 crore in May In May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. V.K. Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India. In the first three months of 2023, FPIs were continuous sellers in India due to India's premium valuations and the opportunities provided by the Chinese reopening and the relatively lower valuations in South Korea, Hong Kong and Taiwan. That...
FPI bought equity worth Rs 18,617 crore in May
FPI bought equity worth Rs 18,617 crore in May
Source: IANS
14/05/2023 11:34:35 AM
Foxconn in talks to invest in India's Karnataka state India's southern Karnataka state is in serious talks with Taiwan's Foxconn over investment plans, Chief Minister Basavaraj Bommai said on Wednesday, potentially setting it up as the Indian third state to host Foxconn. "We are in serious discussion of investment plans with Hon Hai Technology Group (Foxconn) at their Taiwan HQ & look forward to a fruitful collaboration," Bommai said in a tweet. "We remain committed to welcome the best companies to the state & r...
Foxconn in talks to invest in India's Karnataka state
Foxconn in talks to invest in India's Karnataka state
Source: Reuters
9/02/2023 10:01:03 AM
Stocks and bonds tumble as hawkish central banks dash pivot hopes World stocks were stuck near one-month lows and government bond markets came under fresh selling pressure on Friday, a day after a slew of central banks jacked up interest rates and signalled that the fight to tame inflation was not over yet. Interest rates went up in the euro area, Britain, Switzerland, Denmark, Norway, Mexico and Taiwan on Thursday, following a U.S. rate hike a day before, and central bankers vowed to keep raising rates to bring down prices. This week's hawkish me...
Stocks and bonds tumble as hawkish central banks dash pivot hopes
Stocks and bonds tumble as hawkish central banks dash pivot hopes
Source: Reuters
16/12/2022 8:53:22 AM
IIT Hyderabad logs 508 job offers, highest offer of Rs 63.78 L in placements phase 1 Amid the overall gloomy financial outlook, coupled with massive layoffs all over, campus placements at the Indian Institute of Technology Hyderabad (IITH), are progressing at a brisk pace. IITH has reported 508 offers, which includes 54 international, received from 144 companies during Phase-1 of campus placements held between December 1-7. The entire recruitment process was held in hybrid mode. A total of more than 700 students have registered for placements across departments this yea...
IIT Hyderabad logs 508 job offers, highest offer of Rs 63.78 L in placements phase 1
IIT Hyderabad logs 508 job offers, highest offer of Rs 63.78 L in placements phase 1
Source: IANS
10/12/2022 10:01:20 AM
Morgan Stanley raises Asia, emerging markets index targets Investment advisory firm Morgan Stanley has raised Asia and emerging market (EM) index targets in its latest report titled "Asia Emerging Markets Strategy: New Bill Run Market Continues", which was released on Monday. Expressing confidence in emerging markets bull cycle, it said that "a new bull cycle is beginning". "We now feel even more confident in a new bull cycle for Asia/EM equities. We raise our base case MSCI EM target a further 10 per cent to 1,100 (12 ...
Morgan Stanley raises Asia, emerging markets index targets
Morgan Stanley raises Asia, emerging markets index targets
Source: IANS
5/12/2022 5:05:13 PM
Tata in talks to buy Wistron's India facility for up to $613 million -report Tata Group is in talks to buy Wistron Corp's only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions. If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with Taiwan's Wistron – one of Apple Inc's top vendors in India – the report said, citing sources close to Tata. ...
Tata in talks to buy Wistron's India facility for up to $613 million -report
Tata in talks to buy Wistron's India facility for up to $613 million -report
Source: Reuters
30/11/2022 10:29:33 AM
Quote on FPI: FPI buying is unlikely to turn very aggressive, going forward Says Dr. V K Vijayakumar, Geojit Financial Services Quote on FPI 19 November 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services "FPI buying has picked up smartly in November following the flat FPI activity in October. According to NSDL data the total FPI buying in November till 18th is Rs 30384 crores. FPI buying in IT which started picking up in the second half of October has gathered momentum in November. FPIs have been buying in autos and telecom, too. FPI buying is unlikely to turn very ag...
Quote on FPI: FPI buying is unlikely to turn very aggressive, going forward Says Dr. V K Vijayakumar, Geojit Financial Services
Quote on FPI: FPI buying is unlikely to turn very aggressive, going forward Says Dr. V K Vijayakumar, Geojit Financial Services
Source: Geojit Financial Services Ltd
19/11/2022 9:28:10 AM
India may let Chinese firms enter via JVs with local companies- Media The Indian government is open to letting Chinese companies enter the country's high-tech electronics sector should they set up manufacturing plants in partnerships with local companies, the Economic Times newspaper reported on Wednesday, citing officials. A joint venture (JV) proposal could be cleared if the Indian partner holds a majority stake and controls the board, according to the report, although it said no conditions have been finalized. The government, along with the industr...
India may let Chinese firms enter via JVs with local companies- Media
India may let Chinese firms enter via JVs with local companies- Media
Source: Reuters
2/11/2022 11:19:07 AM
Vedanta expects revenue to jump to $50 billion in two years' time - Chairman Anil Agarwal Metals to oil conglomerate Vedanta Ltd expects annual revenue of $50 billion in the next two to three years, roughly double projected revenues for fiscal year 2023, as it looks to ramp up production, including metals used in electric car batteries, its chairman said. Vedanta reported 1.327 trillion rupees ($16.05 billion) in revenues in the fiscal year that ended in March, up from 880.2 billion rupees a year earlier. "We'll go to $50 billion in two years' time and this will...
Vedanta expects revenue to jump to $50 billion in two years' time - Chairman Anil Agarwal
Vedanta expects revenue to jump to $50 billion in two years' time - Chairman Anil Agarwal
Source: Reuters
1/11/2022 5:29:51 PM
US prioritises ties with India US President Joe Biden's administration unveiled the US National Defence Strategy 2022 on October 27. It lists plans to boost its defence ties with India to deter Chinese aggression in the region. The latest Defence Strategy states that China presents the most consequential and systemic challenge, while Russia poses acute threats to vital US national interests abroad and to the homeland. "The world is changing. We're at a significant inflection point in world history. And o...
US prioritises ties with India
US prioritises ties with India
Source: IANS
31/10/2022 4:50:35 PM
Japan`s Kishida lauds Shinkansen bullet train project in India as a model for world  Spotlighting the ongoing Mumbai-Ahmedabad High Speed Rail Project in India, Japanese Prime Minister Fumio Kishida hoped on Thursday that Japan's Shinkansen technology will be adopted around the world. Addressing the International High-Speed Rail Association (IHRA) Forum 2022 which began in the central Japanese city of Nagoya on Thursday, Kishida said that the Shinkansen - a term used to describe bullet trains in Japan - has been embraced in Taiwan, India, and the United States. ...
Japan`s Kishida lauds Shinkansen bullet train project in India as a model for world
Japan`s Kishida lauds Shinkansen bullet train project in India as a model for world
Source: IANS
28/10/2022 3:09:23 PM
Asia hedge fund losses grow in Q3, poised for worst year since 2008  Hedge funds focused on emerging Asia posted their biggest monthly losses in years in September and are set for the worst year since the 2008 financial crisis, data provider HFR said. The firm's HFRI Asia ex-Japan Index slumped 7.7% in September, the worst single month performance since March 2020, HFR data showed on Oct. 17. Third quarter performance was a negative 10.4%, compared with a 4% drop in the second quarter.  The extended losses came as Asian markets faced mount...
Asia hedge fund losses grow in Q3, poised for worst year since 2008
Asia hedge fund losses grow in Q3, poised for worst year since 2008
Source: Reuters
19/10/2022 12:47:22 PM
Gujarat partners with Vedanta, Foxconn to set up semi-conductor, display manufacturing units Vedanta Ltd and Taiwan's Foxconn signed an agreement on Tuesday with India's Gujarat, Prime Minister Narendra Modi's home state, to set up a $20 billion semiconductor project.  The Gujarat government has partnered with Vedanta and Foxconn aiming an investment of Rs 1.54 lakh crore to achieve self-reliance in the field of semi-conductor manufacturing. MoUs were signed in the presence of Chief Minister Bhupendra Patel and Union Minister for Electronics and Information Tec...
Gujarat partners with Vedanta, Foxconn to set up semi-conductor, display manufacturing units
Gujarat partners with Vedanta, Foxconn to set up semi-conductor, display manufacturing units
Source: Reuters
13/09/2022 12:18:32 PM
Asia's factory activity slumps on China's COVID curbs, U.S. Asia's factory activity slumped in August as China's zero COVID curbs and cost pressures continued to hurt businesses, surveys showed on Thursday, darkening the outlook for the region's fragile recovery. Manufacturing activity was weak in countries ranging from Japan, China, South Korea to Taiwan in a sign sluggish demand was adding to headaches for companies already suffering from lingering supply constraints. The U.S. Federal Reserve's resolve to continue aggressive in...
Asia's factory activity slumps on China's COVID curbs, U.S.
Asia's factory activity slumps on China's COVID curbs, U.S.
Source: Reuters
1/09/2022 9:27:05 AM
Gold eyes third week of gains as U.S. jobs' test looms Gold consolidated off a one-month peak ahead of U.S. labour market data on Friday, but safe-haven inflows triggered by tensions over Taiwan and lower U.S. yields kept bullion on course for a third straight weekly gain. Spot gold fell 0.3% to $1,784.91 per ounce by 1043 GMT, after hitting its highest level since July 5 earlier in the session. Prices were up 1.1% so far this week. U.S. gold futures eased 0.3% to $1,802.30. "Heightened geopolitical risk over the Taiwan Strait may b...
Gold eyes third week of gains as U.S. jobs' test looms
Gold eyes third week of gains as U.S. jobs' test looms
Source: Reuters
5/08/2022 9:12:14 AM
Emerging Asian equities see first monthly inflows in seven months Emerging Asian equities ex-China saw monthly foreign inflows in July, after six months of capital withdrawals, as investors bet that the size of U.S. interest rate hikes would ease, and that a recent drop in commodity prices would temper surging inflation. Riskier assets were bolstered after the U.S. Federal Reserve's comments that "at some point" it would be appropriate to slow down its policy tightening. Data from stock exchanges in South Korea, India, Taiwan, the Philip...
Emerging Asian equities see first monthly inflows in seven months
Emerging Asian equities see first monthly inflows in seven months
Source: Reuters
3/08/2022 4:28:13 PM
PM Narendra Modi meets Foxconn chief, hails manufacturing plans for India Prime Minister Narendra Modi on Thursday met Taiwan-based manufacturing giant Foxconn's Chairman Young Liu and hailed the company's electronics manufacturing plans in the country. "Glad to meet Mr. Young Liu, Chairman, Foxconn. I welcome their plans for expanding electronics manufacturing capacity in India, including in semiconductors," Modi said in a tweet. The Taiwan-based company is also planning to set up an EV manufacturing plant in India. Foxconn's EV manu...
PM Narendra Modi meets Foxconn chief, hails manufacturing plans for India
PM Narendra Modi meets Foxconn chief, hails manufacturing plans for India
Source: IANS
24/06/2022 8:12:47 AM
Taiwan's Hong Fu group to invest Rs 1,000 cr in Tamil Nadu for footwear factory Taiwan's Hong Fu group plans to invest Rs 1,000 crore over a three to five year period to manufacture footwear in Tamil Nadu, the state government said on Thursday. In a statement issued here, the government said the Hong Fu group, which makes sports shoe brands like Nike, Puma, Converse, Vans and others, has signed an MoU to set up a footwear manufacturing facility and is scouting for a place to locate its factory.  
Taiwan's Hong Fu group to invest Rs 1,000 cr in Tamil Nadu for footwear factory
Taiwan's Hong Fu group to invest Rs 1,000 cr in Tamil Nadu for footwear factory
Source: IANS
8/04/2022 11:41:04 AM
iPhone maker Foxconn to make chips in India with Vedanta TAIPEI  - Taiwan's Foxconn said on Monday it had partnered with Indian conglomerate Vedanta Ltd to make semiconductors in the South Asian country, as the electronics giant looks to diversify its business amid a global chip shortage. Foxconn, the world's largest contract electronics manufacturer and a major Apple supplier, has expanded into areas including electric vehicles (EVs) and semiconductors in recent years. In a statement, Foxconn said it had signed a memorandum of u...
iPhone maker Foxconn to make chips in India with Vedanta
iPhone maker Foxconn to make chips in India with Vedanta
Source: Reuters
14/02/2022 7:58:04 PM
TSMC in talks with Germany about potential plant: Report Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract manufacturer for chips, is in early talks with the German government about potentially establishing a plant in the European country. According to TSMC senior vice president of Europe and Asia sales Lora Ho, various factors like government subsidies, customer demand and the talent pool, would influence its final decision, reports Taipei Times. In June, TSMC Chairman Mark Liu told shareholders that the chi...
TSMC in talks with Germany about potential plant: Report
TSMC in talks with Germany about potential plant: Report
Source: IANS
14/12/2021 2:17:55 PM
Foxconn says looking at making EVs in Europe, India, Latin America TAIPEI - Taiwan tech giant Foxconn is looking at making electric vehicles (EVs) in Europe, India and Latin America, Foxconn Chairman Liu Young-wai told a business forum in Taipei on Wednesday. Liu's comments come after Foxconn unveiled its first three electric vehicle prototypes earlier this week.   (Reporting by Ben Blanchard; Editing by Christopher Cushing)
Foxconn says looking at making EVs in Europe, India, Latin America
Foxconn says looking at making EVs in Europe, India, Latin America
Source: Reuters
20/10/2021 10:16:05 AM
Foxconn's Q2 profit beats estimates as pandemic drives tech demand TAIPEI -Taiwan's Foxconn reported a better-than expected quarterly profit on Thursday due to strong demand for technology products from clients, such as Apple Inc, as people continued to telecommute amid the COVID-19 pandemic. The world's largest contract electronics maker reported April-June net profit of T$29.779 billion ($1.07 billion), up 30% from a year earlier. That compared to a Refinitiv consensus estimate of T$25.98 billion drawn from 12 analysts. Its revenue rose ...
Foxconn's Q2 profit beats estimates as pandemic drives tech demand
Foxconn's Q2 profit beats estimates as pandemic drives tech demand
Source: Reuters
12/08/2021 1:44:19 PM
DNA vaccines for Covid-19 effective in mice, hamsters: Study  Taiwan researchers have successfully developed a vaccine that uses DNA encoding the coronavirus' spike protein, instead of the currently available mRNA vaccines. DNA vaccines are often hard to deliver into cells. But, the team from the National Health Research Institutes, Taiwan, coupled electroporation with the delivery of the DNA vaccination. The research, published in the journal PLOS Neglected Tropical Diseases, showed that mice and hamsters immunised with the new DNA vacc...
DNA vaccines for Covid-19 effective in mice, hamsters: Study
DNA vaccines for Covid-19 effective in mice, hamsters: Study
Source: IANS
28/05/2021 1:50:46 PM
Exclusive: TSMC looks to double down on U.S. chip factories as talks in Europe falter Taiwan Semiconductor Manufacturing Co is weighing plans to pump tens of billions of dollars more into cutting-edge chip factories in the U.S. state of Arizona than it had previously disclosed, but is cool on prospects for an advanced European plant, people familiar with the matter told Reuters. TSMC is the world's most advanced chip-maker, and its investment plans are being closely watched amid a global chip shortage and new initiatives in the U.S. and Europe to subsidize semiconductor...
Exclusive: TSMC looks to double down on U.S. chip factories as talks in Europe falter
Exclusive: TSMC looks to double down on U.S. chip factories as talks in Europe falter
Source: Reuters
14/05/2021 2:06:54 PM
TSMC sees chip shortage lasting into 2022, books solid profit TAIPEI - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said on Thursday it is doing all it can to increase productivity and alleviate a worldwide chip shortage, but that tight supplies will likely continue into next year. The world's biggest contract chipmaker said it is expanding capacity and working to keep pricing reasonable. "We have acquired land and equipment, and started the construction of new facilities. We are hiring thousands of employees and expanding our capacit...
TSMC sees chip shortage lasting into 2022, books solid profit
TSMC sees chip shortage lasting into 2022, books solid profit
Source: Reuters
16/04/2021 10:59:02 AM
TSMC books 19% first-quarter profit growth; says chip shortage likely last into 2022 TAIPEI  - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) on Thursday said it is doing all it can to increase productivity and alleviate a worldwide chip shortage, but that tight supplies will likely continue into next year. The world's biggest contract chipmaker, at an earnings briefing, said it is expanding capacity and working to keep pricing reasonable. The comments come after the Taiwanese firm reported a 19.4% rise in first-quarter profit, beating market expectations, on...
TSMC books 19% first-quarter profit growth; says chip shortage likely last into 2022
TSMC books 19% first-quarter profit growth; says chip shortage likely last into 2022
Source: Reuters
15/04/2021 1:48:08 PM
Taiwan punishes Deutsche Bank, others in currency speculation case TAIPEI - Taiwan's central bank said on Sunday it had banned Deutsche Bank from trading Taiwan dollar deliverable and non-deliverable forwards and suspended it for two years from trading forex derivatives as part of a crackdown on speculation. The Taiwan dollar is at its highest in more than 23 years against the U.S. dollar as the island's trade-dependent economy booms on global demand for its tech products fuelled by people working from home. The central bank has been particular...
Taiwan punishes Deutsche Bank, others in currency speculation case
Taiwan punishes Deutsche Bank, others in currency speculation case
Source: Reuters
8/02/2021 9:44:42 AM
Taiwan says chipmakers to prioritise auto chips TAIPEI - Taiwan Economics Minister Wang Mei-hua said on Wednesday she had met with senior executives of four major Taiwanese chipmakers who told her they were willing to prioritise supplies for auto makers amid a global shortage of chips for the industry. Wang told reporters that the chipmakers said they were willing to increase capacity to supply auto chips as much as they could and negotiate with other clients to put supplies for auto chips first. But she said the chip shortage issue ...
Taiwan says chipmakers to prioritise auto chips
Taiwan says chipmakers to prioritise auto chips
Source: Reuters
27/01/2021 1:46:07 PM