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Search resuls for: "Philip Wen"


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☆ Top Apple Supplier Foxconn Plans Major India Expansion
  + stars: | 2023-03-03 | by ( Rajesh Roy | Yoko Kubota | Philip Wen | ) www.wsj.com   time to read: 1 min
NEW DELHI— Apple Inc.’s main manufacturer, Foxconn Technology Group , is considering a major expansion in India, including possibly assembling millions more iPhones and setting up new production sites as it seeks to further diversify beyond China. Foxconn is set to expand production of iPhones at its existing plant near Chennai, in the southern Indian state of Tamil Nadu, people familiar with the matter said. It aims to boost iPhone production to around 20 million units annually by 2024, and roughly triple the number of workers to as many as 100,000, said the people, including a senior Indian government official.
☆ Top Apple Supplier Plans Major India Expansion
  + stars: | 2023-03-03 | by ( Rajesh Roy | Yoko Kubota | Philip Wen | ) www.wsj.com   time to read: 1 min
NEW DELHI— Apple Inc.’s main manufacturer, Foxconn Technology Group , is considering a major expansion in India, including possibly assembling millions more iPhones and setting up new production sites as it seeks to further diversify beyond China. Foxconn is set to expand production of iPhones at its existing plant near Chennai, in the southern Indian state of Tamil Nadu, people familiar with the matter said. It aims to boost iPhone production to around 20 million units annually by 2024, and roughly triple the number of workers to as many as 100,000, said the people, including a senior Indian government official.
☆ The Man Trafigura Blames for a $577 Million Nickel Upset
  + stars: | 2023-02-17 | by ( Joe Wallace | Julie Steinberg In London | Philip Wen In New Delhi | ) www.wsj.com   time to read: 1 min
Prateek Gupta is the 43-year-old scion of an Indian family that ran a public metals-and-power company. Even before Trafigura Group said phony nickel shipments could cost it up to $577 million, some people and businesses had decided to steer clear of both Prateek Gupta—the businessman Trafigura says is responsible for the alleged misconduct—and a Swiss firm Mr. Gupta had acquired. Commodity-trading giant Trafigura has accused Mr. Gupta and related companies of committing “systematic fraud.” It says it agreed to buy nickel—a hot commodity, due to the electric-vehicle boom—but instead received other, cheaper cargoes.
☆ Indian Authorities Search BBC Offices Weeks After Contentious Modi Documentary
  + stars: | 2023-02-14 | by ( Philip Wen | Vibhuti Agarwal | ) www.wsj.com   time to read: 1 min
NEW DELHI—Indian income-tax officials on Tuesday searched offices of the BBC weeks after the British broadcaster aired a documentary on Prime Minister Narendra Modi that New Delhi described as propaganda. The British Broadcasting Corp. said on its official Twitter account that it was fully cooperating with the authorities at its offices in New Delhi and Mumbai. “We hope to have this situation resolved as soon as possible,” it said.
☆ Bangladesh, IMF Reach Deal on $4.5 Billion Aid Package
  + stars: | 2022-11-09 | by ( Philip Wen | ) www.wsj.com   time to read: 1 min
Bangladesh has reached a preliminary agreement for a $4.5 billion assistance package with the International Monetary Fund as it seeks to cushion its economy from the impact of the war in Ukraine and risks posed by climate change. The emergence of Bangladesh’s export-oriented garment manufacturing industry helped turbocharge economic growth and propel average incomes—and several indicators of human well-being—above those of South Asian neighbors India and Pakistan. But high inflation, a plunging local currency and recession concerns in the U.S. and Europe—its main export markets—have placed one of the world’s fastest-growing economies of the past decade under mounting financial pressure.
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