Reuters Asia - Squid Business

US finalizes $406 million chips subsidy for Taiwan’s GlobalWafers

By David Shepardson WASHINGTON (Reuters) -The U.S. Commerce Department said on Tuesday it has finalized $406 million in government grants to Taiwan’s GlobalWafers to significantly increase production of silicon wafers in the United States. The funds for projects in Texas and Missouri will establish the first high-volume U.S. production of 300-mm wafers for advanced semiconductors …

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Exclusive-LG Energy Solution, India’s JSW discuss $1.5 billion battery venture, sources say

By Aditi Shah and Neha Arora NEW DELHI (Reuters) – South Korea’s LG Energy Solution is in talks with India’s JSW Energy to manufacture batteries for electric vehicles and renewable energy storage in a joint venture that would need an investment of over $1.5 billion, two sources told Reuters. The two companies have signed an …

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Walmart teams up with delivery firm Meituan in bid to boost China e-commerce sales

By Casey Hall SHANGHAI (Reuters) -Walmart said on Tuesday it had formed a strategic partnership with Meituan under which the Chinese firm has begun providing delivery services for Walmart goods and the U.S. company will be featured on its popular app. The move will help Walmart accelerate its e-commerce business in China, which accounts for …

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Gold slips on expectations of a cautious Fed next year

By Daksh Grover (Reuters) – Gold eased on Tuesday, pressured by a firmer U.S. dollar and Treasury yields, as investors looked ahead to the Federal Reserve’s interest rate decision amid expectations it will adopt a cautious approach to monetary policy easing next year. Spot gold was down 0.5% at $2,639.22 per ounce, as of 1055 …

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Analysis-2024 the ‘year of the bond’ as record inflows top $600 billion

By Harry Robertson LONDON (Reuters) – Investors have poured a record $600 billion into global bond funds this year, taking advantage of some of the highest yields in decades ahead of an uncertain 2025. Dwindling inflation has finally allowed central banks to lower interest rates, pushing investors to lock in the relatively high yields available …

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Philippines sends provisions to military personnel in South China Sea

BEIJING (Reuters) – The Philippines said it delivered provisions earlier this month to its military personnel stationed at features in the South China Sea that Manila occupies but are claimed by Beijing. China’s coast guard said on Tuesday that the Philippines sent a civilian vessel to deliver the provisions to an “illegally grounded” warship at …

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Indian finance minister says Q2 growth slowdown a ‘blip’, higher growth coming

NEW DELHI (Reuters) – The Indian economy will see healthy growth in coming quarters, and the slowdown in growth from July-September was a “temporary blip”, Finance Minister Nirmala Sitharaman said on Tuesday. India’s economic growth slowed more than expected in July-September, expanding by only 5.4% year-on-year. “The government believes the trend in Q2 of 2024-25 …

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Indian shares slump on caution before Fed meeting

By Hritam Mukherjee and Kashish Tandon (Reuters) -Indian shares slipped on Tuesday, on across-the-board selling as investors braced for the Federal Reserve’s monetary policy meeting for clues on its rate cut path next year. The NSE Nifty 50 fell 1.35% to 24,336 points as of 3:30 p.m. IST, while the BSE Sensex declined 1.3% to …

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Taiwan says it will encourage firms to build more robotics, drones locally

TAIPEI (Reuters) – Taiwan is introducing a new initiative called “Chips Team Taiwan” that will encourage Taiwanese companies to build more satellites, drones and robotics locally, its technology and science minister said on Tuesday. Wu Cheng-wen said Taiwan’s defence needs were growing and this would create local demand for such products from the island’s chip …

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Bangladesh’s electricity imports from Adani plant slide by a third in November

By Sudarshan Varadhan SINGAPORE (Reuters) – Bangladesh’s electricity imports from an Adani Power plant in India fell by nearly a third in November, Indian government data showed, pushing the south Asian nation to boost fuel oil use for power generation. Adani abruptly slashed supply to Bangladesh from its 1,600 megawatt power plant in Jharkhand state …

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