China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts to catch up with the U.S. and other rivals.
Thailand’s 2023 economic growth and inflation are expected to be lower than previously forecast due to softer-than-expected exports and tourism spending, the central bank chief said on Tuesday.
European Central Bank policymakers warned investors who are overwhelmingly betting against an ECB interest rate hike next week that the decision was still up in the air and a rise in borrowing costs was among the options on the table.
The initial public offering (IPO) of Renault’s Ampere electric vehicle division could get a valuation of up to 10 billion euros ($10.8 billion), CEO Luca de Meo said.
Taiwan’s Foxconn, the world’s largest contract electronics maker and a major supplier for Apple, said on Tuesday revenue in August fell 8% year-on-year but forecast a better business outlook ahead of new product releases by major customer Apple.
China’s services activity expanded at the slowest pace in eight months in August, a private-sector survey showed on Tuesday, as weak demand continued to dog the world’s second-largest economy and stimulus failed to meaningfully revive consumption.
Luckin Coffee said on Tuesday that it sold more than 5.42 million cups of the alcohol-infused latte it rolled out with Kweichow Moutai on the first day of its launch, setting a new sales record for the Chinese coffee chain.
Spain is analysing Saudi Arabian group STC’s purchase of a 9.9% stake in Telefonica to ensure its strategic interests are defended, acting economy minister Nadia Calvino said on Wednesday, signalling a potential hurdle.
Australian packaging company Orora Ltd said on Tuesday it would buy French high-end glass bottle manufacturer Saverglass from private equity firm Carlyle Group for A$2.16 billion ($1.4 billion).
Japan’s service sector activity expanded at its quickest pace in three months in August, underpinned by robust consumer spending as inbound tourism regained momentum, a private-sector survey showed on Tuesday.
