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Taiwan`s Delta Electronics aims to double India workforce Taiwan's Delta Electronics said on Monday it plans to almost double its workforce in India over the next five years, including by setting up its largest research centre in the country whose role in the global tech industry has been rising. The company, which supplies power components to other companies, opened the R&D centre in the southern city of Bengaluru and said it plans to add 3,000 employees in five years, up from about 3,500 currently. Delta Electronics, which now h...
Taiwan`s Delta Electronics aims to double India workforce
Taiwan`s Delta Electronics aims to double India workforce
Source: Reuters
2024-09-09 05:36:22 pm
South Korea unveils $19 billion support package for chip industry South Korean President Yoon Suk Yeol said on Thursday that the country will introduce a chip industry support package worth 26 trillion won ($19 billion) to bolster the critical industry amid intensifying global competition.  The comprehensive plan was unveiled during an interagency meeting on economic issues, involving related ministries and financial regulators. The package includes financial programmes, research and development (R&D) initiatives and infrastructure suppor...
South Korea unveils $19 billion support package for chip industry
South Korea unveils $19 billion support package for chip industry
Source: IANS
2024-05-23 09:47:46 am
Uber to acquire Delivery Hero`s foodpanda business in Taiwan for $950 mn Uber Technologies will acquire Delivery Hero's owned foodpanda business in Taiwan for $950 million in cash, as the online food ordering company focuses on other markets. The acquisition is subject to regulatory approval and other customary closing conditions and is targeted to close in the first half of 2025, the companies said in a joint statement on Tuesday. Separately, both firms have also entered into an agreement for Uber to buy $300 million in newly issued ordinary shares of D...
Uber to acquire Delivery Hero`s foodpanda business in Taiwan for $950 mn
Uber to acquire Delivery Hero`s foodpanda business in Taiwan for $950 mn
Source: IANS
2024-05-14 01:59:10 pm
India-Taiwan trade may reach $25 billion via investments, tech sharing As India-Taiwan economic partnership grows significantly in recent years, the trade between the two countries may reach $25 billion via investment and technology sharing, industry leaders have said. Peter Huang, specialist of South Asia section (Market Development Department), Taiwan External Trade Development Council, who led a high-level delegation here, said that India is a friendly and hospitable country for Taiwanese industry. "Our commercial relation is growing from strength ...
India-Taiwan trade may reach $25 billion via investments, tech sharing
India-Taiwan trade may reach $25 billion via investments, tech sharing
Source: IANS
2024-05-08 12:51:20 pm
Moody`s expects Fed to cut rates in May as inflation slows Moody's expects the inflation rate to return to central bank targets by 2025 and the US Federal Reserve to start cutting rates in May. The latest report of the global credit rating agency released on Friday also dwells on credit issues such as the expected rate of corporate defaults, and the impact of geopolitical factors, AI and digital technology on credit metrics. "We expect inflation to return to central bank targets by 2025 but on a bumpy path with occasional jumps that co...
Moody`s expects Fed to cut rates in May as inflation slows
Moody`s expects Fed to cut rates in May as inflation slows
Source: IANS
2024-01-20 10:05:32 am
Foxconn to partner with India's HCL Group for chip testing plant  Taiwan's Foxconn will partner with tech firm HCL Group for a semiconductor assembly and testing facility in India, the companies said on Thursday. The firms will set up an outsourced assembly and testing (OSAT) unit in the south Asian nation. An OSAT plant packages, assembles and tests foundry-made silicon wafers, turning them into finished semiconductor chips. Foxconn said in a regulatory filing that its India unit will own a 40% stake in the joint venture with a $37....
Foxconn to partner with India's HCL Group for chip testing plant
Foxconn to partner with India's HCL Group for chip testing plant
Source: Reuters
2024-01-18 10:19:50 am
Dollar wobbles; yuan slips after PBOC surprise The dollar ebbed on Monday on renewed expectations of a rate cut by the Federal Reserve in March, while the yuan fell to a one-month low after China's central bank surprised markets by keeping its medium-term policy rate steady. The People's Bank of China (PBOC) on Monday left the interest rate unchanged when rolling over maturing medium-term policy loans, defying market expectations for a cut to shore up China's bumpy post-pandemic economic recovery. That sent the onshore y...
Dollar wobbles; yuan slips after PBOC surprise
Dollar wobbles; yuan slips after PBOC surprise
Source: Reuters
2024-01-15 08:55:17 am
How an election-packed 2024 could swing world markets Countries making up over 60% of the world's economic output and more than half of its population hold elections this year. Markets face a "ballot box bombshell", financial services group Morningstar says, adding: "prior experience of this kind of event risk shows big changes can cause sell-offs". Here's a look at the elections that matter for markets, in roughly chronological order for the coming year. 1/ TAIWAN Date: Jan 13 Back story: Taiwan'...
How an election-packed 2024 could swing world markets
How an election-packed 2024 could swing world markets
Source: Reuters
2024-01-10 03:02:10 pm
Michelle Yeoh not ready for her new grandson to see her as a witch in `Wicked` Acclaimed actress Michelle Yeoh doesn’t want her newborn grandchild to see 'Wicked'. On the red carpet at the Los Angeles premiere of her Netflix series 'The Brothers Sun', she asked Yeoh what film of hers she would want her grandson, Maxime, to see first. Yeoh mused for a while, bringing up her upcoming project, Jon M. Chu’s 'Wicked', in which she plays school headmistress Madame Morrible, before ultimately deciding against it, reports Variety. &l...
Michelle Yeoh not ready for her new grandson to see her as a witch in `Wicked`
Michelle Yeoh not ready for her new grandson to see her as a witch in `Wicked`
Source: IANS
2024-01-06 11:49:02 am
Foxconn gets approval to invest $1 bn more in Apple India plant Taiwanese contract manufacturer Foxconn has received approval to invest at least $1 billion more in a plant in India that will manufacture Apple products, a significant step towards its aim of establishing a hub outside of China, a media report said on Wednesday. Bloomberg reported citing sources that Foxconn intends to spend the approved amount on top of the $1.6 billion it earlier set aside for the 300-acre site close to the Bengaluru airport. The new amount will bankroll additional capa...
Foxconn gets approval to invest $1 bn more in Apple India plant
Foxconn gets approval to invest $1 bn more in Apple India plant
Source: IANS
2023-12-13 04:52:36 pm
Lenskart acquires AI-based computer vision startup Tango Eye Lenskart on Monday announced the acquisition of Tango Eye, an AI-based computer vision startup. With this acquisition, Lenskart plans to use visual artificial intelligence technology in improving store experience as well as its product experience.  The company has also been an early investor in Tango, and the acquisition strengthens Lenskart’s commitment towards leveraging technology to solve business problems and delight customers, the company said. "We have now exte...
Lenskart acquires AI-based computer vision startup Tango Eye
Lenskart acquires AI-based computer vision startup Tango Eye
Source: IANS
2023-10-30 04:01:10 pm
Supply rejig by global auto majors to reduce offshore sourcing: Capgemini Research Institute A global re-orchestration is happening in the automotive industry with procurement from offshore locations coming down, said Capgemini Research Institute (CRI) in a report.?A global re-orchestration is underway as procurement from offshore locations fell by 22 per cent in the past two years. Europe leads this trend having reduced offshore procurement by a quarter since 2021. This is followed by APAC (Asia Pacific) and the US who have reduced offshore sourcing by 20 per cent  and 18 per c...
Supply rejig by global auto majors to reduce offshore sourcing: Capgemini Research Institute
Supply rejig by global auto majors to reduce offshore sourcing: Capgemini Research Institute
Source: IANS
2023-09-11 02:33:48pm