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☆ Nvidia plans to build a $200 million AI center in Indonesia amid push into Southeast Asia
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California, on Feb. 11, 2015. Nvidia is planning to build a $200 million artificial intelligence center in Indonesia in partnership with local telco giant Indosat Ooredoo Hutchison, as the U.S. tech darling continues its push into Southeast Asia. Indosat did not respond to a request for comment, while Nvidia declined to comment on the matter. Indosat Ooredoo Hutchison is Indonesia's second-largest mobile telco after a 2022 merger between Qatar's Ooredoo and Hong Kong's CK Hutchison. Nvidia's increased presence in Indonesia represents a broader push into Southeast Asia this year as data demand in the region booms on the back of the growing digital economy.

Persons: Ooredoo Hutchison, Budi Arie Setiadi, Indosat, Blackwell, Indosat Ooredoo Hutchison, Kong's CK Hutchison Organizations: Nvidia, Indonesia's, Information Technology, Qatar's, Kong's Locations: Santa Clara , California, Indonesia, U.S, Southeast Asia, Surakarta, Central Java, Nvidia's

☆ Telcos are barely done rolling out 5G networks — and they're already talking about '5.5G'
▼ + stars: | 2024-03-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +10 min

And yet bosses of major carriers are already talking about building something called "5.5G," or "5G Advanced." Carriers in China, South Korea, the United States, and Europe, properly got underway with launches of 5G networks in 2019. 5G Advanced, or the name for the next stage of 5G, is the next evolution of mobile networks. 5G advanced — 5G standalone, that's absolutely fine. Telcos haven't yet revealed how much more a 5G Advanced data plan will cost compared with 5G.

Persons: Angel Garcia, it's, GSMAi, Milind Kulkarni, Howard Watson, 5.5G, Watson, execs, Mats Granryd, Granryd, Karen Tso, Telcos, Philip Song Organizations: Bloomberg, Getty, Spain — Telecom, Mobile, Congress, MWC, Deutsche Telekom, Telefonica, BT, Vodafone, Facebook, YouTube, Netflix, Apple, Apple Vision, Meta Quest, Telecommunications, 3GPP, CNBC, telco, Huawei, 5G, 5.5G Locations: BARCELONA, Spain, Barcelona, Orange, China, South Korea, United States, Europe, East, Asia Pacific, America

☆ British telco giant BT expects to launch 5G standalone — or 'true' 5G — later this year
▼ + stars: | 2024-03-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Jason Alden | Bloomberg | Getty ImagesBARCELONA — British telecommunications giant BT says it expects to launch its first so-called "standalone 5G" network in 2024. Howard Watson, BT's chief technology officer, told CNBC that the telco group plans to switch on its standalone 5G network, which is often referred to in the industry as "true" 5G, later this year. "We've already been ensuring that the SIM cards that our customers have in their current 5G devices can do 5G standalone," Watson added. 5G standalone is different from 5G Advanced, though. 5G standalone refers to the development of a 5G network that isn't being built on top of 4G cores.

Persons: Jason Alden, Howard Watson, Watson, Milind Kulkarni, Kulkarni Organizations: BT Group, Bloomberg, Getty, BT, CNBC, Mobile, Congress, Swedish, Ericsson, Qualcomm, Apple, Samsung Locations: Reading, BARCELONA, British, Barcelona, Europe

☆ Orange CEO: The telecommunication sector needs to innovate faster
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOrange CEO: The telecommunication sector needs to innovate fasterOrange CEO Christel Heydemann tells CNBC's Karen Tso how the big telco companies are coming to Mobile World Congress to express the need for innovation

Persons: Christel Heydemann, Karen Tso Organizations: Orange, Mobile, Congress

☆ Strong earnings and an online advertising play by Walmart have us wondering about Costco
▼ + stars: | 2024-02-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Sectors leading: Consumer staples were outperforming, led by Dow stock Walmart 's 3.5% gain. Jim Cramer said, "Walmart has tried to keep prices down, but Costco is lowering across the board. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Jensen Huang, Eaton, Bausch, Jim Cramer's Organizations: CNBC, Dow, Walmart, Costco, Semiconductor, Computer, Nvidia, Caterpillar, Palo Alto Networks, Realty, Bausch Health Companies, Jim Cramer's Charitable Locations: We're, homebuilding, BLCO

☆ Suddenly, there's real competition for broadband internet
▼ + stars: | 2024-02-14 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

AdvertisementThere are some people who really, really like Super Bowl ads. I’ve heard for years about the idea that wireless carriers would eventually take on the big broadband companies by selling “fixed wireless” broadband — broadband you can get via 5G airwaves using a box you put in your window instead of relying on cables buried in the ground. If I were, I would know that competition from fixed wireless has been keeping the broadband guys up at night for some time. The broadband guys are happy to tell you why they think their internet is better than the wireless internet the telco guys are selling. But for the moment, we know the cable guys — that is, the broadband guys — are no longer taking the fixed wireless guys for granted.

Persons: —, hadn’t, I’ve, Starry, Craig Moffett, MoffettNathanson, that’s, they’ve, Moffett Organizations: Service, Mobile, Super Bowl, Biden White House, Verizon, Comcast Locations: Boston

☆ Australia Appoints Former Minister to Head Sovereign Wealth Fund
▼ + stars: | 2024-01-28 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

By Lewis JacksonSYDNEY (Reuters) - Australia's centre-left Labor government on Monday said it would appoint a former climate change minister to chair the A$212 billion ($139 billion) sovereign wealth fund, the second successive ex-minister to hold the position. Until then, Combet will continue as chair of the Net Zero Economy Agency, which oversees Australia's net zero transition plans, Chalmers said. Future Fund board member Mary Reemst has been appointed acting chair until he begins the role. Started in 2006 by then Treasurer Peter Costello with proceeds from the privatisation of state telco Telstra, the Future Fund today rivals the country's largest pension funds in size. In one of his final speeches last November, he urged government to resist using the fund to support political projects.

Persons: Lewis Jackson SYDNEY, Greg Combet, Jim Chalmers, Combet, Chalmers, Mary Reemst, Mr Combet, Peter Costello, telco, Costello, Lewis Jackson, Stephen Coates Organizations: Labor, IFM, Future Fund, Economy Agency, telco Telstra, Fund, Liberal Party

☆ Vodafone signs $1.5 bln Microsoft deal for AI, cloud and IoT
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: +2 min

(Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)Vodafone has agreed a 10-year partnership with Microsoft to bring generative AI, digital, enterprise and cloud services to more than 300 million businesses and consumers across its European and African markets. Microsoft's Chief Commercial Officer Judson Althoff said Vodafone's strength in IoT and financial services were strategically important. Microsoft deploys "digital twins" to model manufacturing environments so that process improvements can be tested in the cloud. "Vodafone's IoT stack allows us to go into those environments, model the environment, create large-scale data stores, and use AI to help customers meet their sustainability goals," he said. "We are excited to bring generative AI capabilities to help customers make more intelligent financial decisions," he said.

Persons: Budrul Chukrut, Vodafone's, Luka Mucic, Judson Althoff Organizations: Vodafone, LON, Getty Images, Microsoft Locations: CHINA, British, Africa, Kenya, Tanzania, South Africa

☆ A celebrity chef is getting canceled for making a video about egg fried rice close to the 63rd death anniversary of Mao Zedong's son
▼ + stars: | 2023-12-01 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

A Chinese celebrity chef is facing backlash over an egg fried rice tutorial he posted on Monday. Nationalists believe egg fried rice is a reference to an unconfirmed story of how Mao Anying died. Per the story, he stole eggs from the camp's supplies and cooked himself egg fried rice in broad daylight — a violation of army rules at the time. Critics of the Mao regime post photos of egg fried rice or make a point to eat the dish on this day. "Do ordinary folk eating egg fried rice have to skip a day?"

Persons: Wang Gang, Mao Zedong's, Mao Anying, —, Wang, influencer, Mao Organizations: Communist, Service, Communist Party, China Digital Times, Daily, Wang Locations: China, Weibo, Korea, North Korea, Jiangsu, Nanchang, US

☆ Australia goes on cyber offensive with sweeping resilience plan
▼ + stars: | 2023-11-22 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

Broken Ethernet cable is seen in front of binary code and words "cyber security" in this illustration taken March 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Nov 22 (Reuters) - Australia will give cyber health checks for small businesses, increase cyber law enforcement funding and introduce mandatory reporting of ransomware attacks under a security overhaul announced on Wednesday after a spate of attacks. "We cannot continue as we have," Cyber Security and Home Affairs Minister Clare O'Neil told reporters in Sydney. Unveiling the seven-year strategy, O'Neil said that while large businesses received some of the biggest cyber attacks, they typically recovered, but attacks on small and medium-size businesses could be terminal. "Minister O'Neil's Strategy establishes cyber security as a unifying nationwide endeavour," he added.

Persons: Dado Ruvic, Clare O'Neil, O'Neil, Aidan Tudehope, O'Neil's, telco, Byron Kaye, Stephen Coates Organizations: REUTERS, Rights, Labor, Security, Home Affairs, Australian Cyber Security, U.S, Australian Securities and Investments Commission, Macquarie Technology, telco Optus, Singapore Telecommunications, Medibank, Thomson Locations: Australia, Sydney, Britain

Parent Singapore Telecommunications (STEL.SI) announced the resignation of Optus CEO Kelly Bayer Rosmarin days after a network-wide outage left nearly half of Australia's 26 million people without phone or internet for 12 hours. Appointed in April 2020, Rosmarin headed Optus through two national scandals that have tarnished the reputation of the telco giant. A massive data hack last year exposed the personal data of 10 million Australians and triggered a class action lawsuit and multiple investigations from regulators. Optus executives told the parliamentary hearing on Friday the telco provider had not foreseen a network-wide outage and so had no backup plan in place. (This story has been corrected to change date of Optus network outage to earlier this month, not last week, in paragraph 7)Reporting by Himanshi Akhand in Bengaluru, and Lewis Jackson and Byron Kaye in Sydney; Editing by Lisa Shumaker and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kelly Bayer, Michael Venter, Singtel, Rosmarin, ”, telco, Yuen Kuan, Peter Kaliaropoulos, Himanshi, Lewis Jackson, Byron Kaye, Lisa Shumaker, Stephen Coates Organizations: telco Optus, Parent Singapore Telecommunications, Optus, Triple, Thomson Locations: Optus, Bengaluru, Sydney

☆ Australian telco Optus CEO resigns days after network-wide outage
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +1 min

Nov 20 (Reuters) - Australia's second-largest telco Optus' Chief Executive Officer Kelly Bayer Rosmarin has resigned, its parent Singapore Telecommunications (STEL.SI) said on Monday, days after a network-wide outage left nearly half the country without phone or internet for 12 hours. Optus has appointed Chief Financial Officer Michael Venter as interim CEO. Peter Kaliaropoulos was appointed to a newly created position of chief operating officer, SingTel added. More than 10 million Australians were hit by the 12-hour network blackout at the nation's second-largest telco for much of Wednesday, triggering fury and frustration among customers and raising wider concerns about the telecommunications infrastructure. Reporting by Himanshi Akhand in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kelly Bayer Rosmarin, Michael Venter, Peter Kaliaropoulos, SingTel, Yuen Kuan, Himanshi, Lisa Shumaker Organizations: Optus, Singapore Telecommunications, Thomson Locations: Bengaluru

☆ Australian telco Optus tells lawmakers it had no plan to address total outage
▼ + stars: | 2023-11-17 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

Singtel has said that while Optus experienced an outage after its software upgrade, the upgrade itself was not the cause. "Singtel will support Optus as it learns from what has occurred and continues to improve," the Singapore company said a day earlier. Kanagaratnam told the hearing Optus never expected a total shutdown because it had filters designed to stop all 90 of the company's routers from being overloaded with data. "The outage was a result of our defence not working as it should have," he said. Bayer Rosmarin said 228 calls to Australian emergency hotline Triple-0 failed to connect because of the outage, but the telco had followed up all incidents and "thankfully everybody is OK".

Persons: Kanagaratnam, Singtel, Kelly Bayer Rosmarin, Bayer Rosmarin, telco, Byron Kaye, Gerry Doyle Organizations: SYDNEY, Optus, Singapore Telecommunications, Triple, Bayer, Thomson Locations: Singapore

☆ Sapeon, backed by South Korea's SK Group, launches new AI chip
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSEOUL, Nov 16 (Reuters) - Sapeon, an artificial intelligence (AI) chip startup backed by South Korea's telecom-to-chip conglomerate SK Group, has launched its latest chip for data centres, the company said on Thursday, joining the global race to develop AI chips with bigger rivals like Nvidia (NVDA.O). The new Sapeon X330 chip "represents roughly twice the computational performance and 1.3 times better power efficiency" than competitors' products launched this year, the company said in a statement, without elaborating further on the competitors. Sapeon designs AI semiconductors for data centres, which require huge amounts of data processing. The X330 chip is manufactured by TSMC (2330.TW), the world's largest contract chipmaker, Sapeon said. SK Telecom (017670.KS), South Korea's top telco company, is Sapeon's parent.

Persons: Dado Ruvic, Sapeon, Simon Cameron, Moore Organizations: REUTERS, Rights, SK Group, Nvidia, TSMC, SK Telecom, telco, SK Hynix, Thomson Locations: Rights SEOUL, South

SYDNEY, Nov 13 (Reuters) - Australia's financial position will be more precarious and credit rating at risk should the government succumb to the temptation to spend the sovereign wealth fund on political projects, its outgoing chair said in a speech on Monday. The A$205 billion ($130 billion) Future Fund will come under pressure to fund state priorities as an aging population reduces taxpayers and consumes a larger chunk of spending, Chairman Peter Costello said on Monday at a UBS conference in Sydney. "As government's financial position declines, I expect we'll see more plans to spend it," he said. "Once it is spent there is nothing to offset government sovereign debt, unfunded pension and unfunded military claims. Once it is spent the pressure to raise taxes and borrow more will accelerate."

Persons: Peter Costello, Costello, telco, Lewis Jackson, Stephen Coates Organizations: SYDNEY, UBS, Labor, Liberal, Australia's AAA, telco Telstra, Thomson Locations: Sydney, China

☆ Singtel-owned Optus says massive Australia outage was after software upgrade
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Nov 13 (Reuters) - Australian telecoms provider Optus said on Monday that a massive outage which effectively cut off 40% of the country's population and triggered a political firestorm was caused by "changes to routing information" after a "routine software upgrade". Optus said in a statement that an initial investigation found the company's network was affected by "changes to routing information from an international peering network" early that morning, "following a routine software upgrade". "These routing information changes propagated through multiple layers in our network and exceeded preset safety levels on key routers which could not handle these," the company said. "This resulted in those routers disconnecting from the Optus IP Core network to protect themselves." The company added that it had "made changes to the network to address this issue so that it cannot occur again".

Persons: telco, Byron Kaye, Christopher Cushing Organizations: SYDNEY, Optus, Singapore Telecommunications, Thomson Locations: Australian, Australia

☆ Australia ports operator could be online within days after cyber incident
▼ + stars: | 2023-11-12 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

I've been in contact with the company again this morning and they're making good progress," the government's Cyber Security Coordinator Darren Goldie told ABC Radio. After spotting the breach, DP World, one of a handful of stevedore industry players in Australia, disconnected internet, significantly impacting freight movements, Goldie said. The company, part of Dubai's state-owned DP World, did not immediately respond to a request seeking comment. In a statement on Sunday, DP World said the company was testing key systems crucial for the resumption of regular freight movement. The breach comes as the government prepares to release soon details on its proposed cyber security laws.

Persons: I've, Darren Goldie, Goldie, Clare O'Neil, O'Neil, Renju Jose, Lisa Shumaker Organizations: SYDNEY, ABC Radio, DP, Fremantle, telco Optus, Thomson Locations: Melbourne, Sydney, Brisbane, Western, Australia, Dubai's

☆ Australia to investigate Optus internet and phone outage
▼ + stars: | 2023-11-08 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, Nov 9 (Reuters) - Australia said on Thursday it would launch an investigation into a 12-hour national outage at telco Optus that cut off internet and phone connections to nearly half of its population, hitting critical services including payments, transport and hospitals. The federal government would undertake a post-incident review into the outage, Communications Minister Michelle Rowland said, describing its impacts as "particularly concerning." Australia's media regulator will conduct a separate review into the outage after emergency triple zero ("000") calls went down on Optus landlines, Rowland added. Optus, owned by Singapore Telecommunications (STEL.SI), has not given the cause for the unprecedented outage, one of the biggest the country has witnessed. The outage happened 14 months after Optus was hit by one of Australia's biggest cyber breaches.

Persons: telco, Michelle Rowland, Rowland, Renju Jose, Jamie Freed Organizations: SYDNEY, Optus, Optus landlines, Singapore Telecommunications, Telstra, Australian Broadcasting Corp, Thomson Locations: Australia, Sydney

SYDNEY, Nov 8 (Reuters) - Millions of Australians were left without a phone or internet connection on Wednesday after the country's second-largest telecommunications provider experienced an unexplained nationwide outage. "Our teams are working urgently to restore services. The government had sought further information from Optus including when they expected to restore services. Melbourne's train networks were forced to shut down for about 30 minutes due to the outage, resulting in delays during the morning rush, media reported. A cyber breach last year hit Optus, exposing personal details of millions of its customers, including their home addresses, driver licence and passport numbers.

Persons: telco, Michelle Rowland, Rowland, Renju Jose, Praveen Menon, Stephen Coates Organizations: SYDNEY, Optus, Singapore Telecommunications, Commonwealth Bank, CBA, Reuters, Federal Communications, ABC Radio, Thomson Locations: Sydney

☆ The real growth of 5G will be driven by enterprises, says Singapore telco CEO
▼ + stars: | 2023-11-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe real growth of 5G will be driven by enterprises, says Singapore telco CEOManjot Singh Mann, CEO of M1, discusses 5G adoption, the migration process and the company's outlook.

Persons: Manjot Singh Mann Locations: Singapore

☆ Spain's state fund considers taking Telefonica stake after STC move
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. Acting Economy Minister Nadia Calvino has said Madrid will carry out a thorough evaluation before approving STC's stake, while acting labour minister Yolanda Diaz has called for the transaction to be blocked. Spain's SEPI said in a stock market filing on Tuesday that it was carrying out an "exploratory internal analysis over a potential acquisition" of a stake in Telefonica. STC declined to comment on any potential plans by SEPI. Caixabank, which owns 3.5% stake of Telefonica, said last week it would not raise its stake in response to STC's move, and would analyse with Telefonica any potential cooperation with the Saudi Arabian telecoms company.

Persons: Violeta Santos Moura, Spanish telco Caixabank, SEPI, Nadia Calvino, Yolanda Diaz, Spain's SEPI, Belen Gualda Gonzalez, Onur Genc, It's, Genc, Inti Landauro, Pietro Lombardi, Louise Heavens, Alexander Smith Organizations: Spanish Telecom, REUTERS, BBVA, Telefonica Bank, Telefonica MADRID, Telefonica, Saudi, STC, Saudi Arabia's, SEPI, Thomson Locations: Madrid, Spain, Spanish, Saudi Arabian

☆ KKR to invest $400 mln in Malaysia subsea telco cable services firm
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Oct 30 (Reuters) - U.S. private equity firm KKR (KKR.N) has signed an agreement to invest $400 million in Malaysian subsea telecommunications cable services provider OMS Group, the companies said in a joint statement on Monday. Additional details of the transaction were not disclosed in the statement. The deal marks KKR's latest investment in Southeast Asia digital infrastructure, adding to its existing investments that includes the regional data center of Singapore Telecommunications (STEL.SI) and Philippines-based digital infrastructure company Pinnacle Towers. KKR's investment will be used to accelerate OMS' growth, including expanding fleet size and capabilities and investing in cable landing stations and subsea cable routes, the statement said. Reporting by Yantoultra Ngui; Editing by Kim Coghill and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Yantoultra Ngui, Kim Coghill, Muralikumar Organizations: KKR, Singapore Telecommunications, Pinnacle Towers, Thomson Locations: SINGAPORE, Southeast Asia, Philippines

☆ Huawei's revenue barely rose in the third quarter, despite phone and car sales growth
▼ + stars: | 2023-10-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

That's despite the company's release of a popular new smartphone in late August and growing sales within its electric car venture. watch nowMore than 1.6 million Mate 60 series devices were sold during the first six weeks of sales, according to Counterpoint Research. The research firm estimated that the majority, about 75%, of units sold were Pro models — that's about 1.2 million units sold. The U.S. company saw smartphone sales fall by 10% in the third quarter from a year ago, while Huawei's sales surged by 37%, Counterpoint Research said Thursday. The company sells its operating system and components, such as for driver-assist tech, to car manufacturers.

Persons: Richard Yu, Aito Organizations: Huawei, Bloomberg, Getty, CNBC, 5G, Research, Apple, Aito's Locations: Nanjing, Shanghai, China, BEIJING, U.S

TOKYO, Oct 25 (Reuters) - Kokusai Electric (6525.T) shares jumped 29% in their Tokyo market debut on Wednesday after private equity firm KKR sold shares in the chip equipment maker for $724 million in Japan's largest initial public offering (IPO) in five years. The stock opened at 2,116 yen and climbed to a high of 2,371 yen, valuing the company at 546.3 billion yen ($3.65 billion), as investors grabbed shares following the rare IPO of a key chip tool manufacturer. "The market for chip related stocks outside of AI is weak so some were wondering what would happen," said Tomoichiro Kubota, analyst at Matsui Securities. KKR agreed to buy Hitachi's (6501.T) electronic equipment unit in 2017 in a deal valuing the business at 257 billion yen ($1.72 billion) as the conglomerate streamlined operations. The private equity group then spun off Kokusai, which manufactures machines for depositing thin films on silicon wafers, the following year.

Persons: telco, Tomoichiro Kubota, Kazuyoshi Saito, Warren Buffett, Sam Nussey, Miho Uranaka, Mayu, Makiko Yamazaki, Chang, Ran Kim, Sonali Paul Organizations: KKR, telco SoftBank Corp, Matsui Securities, Reuters, Iwai Cosmo Securities, Materials, Equity, Thomson Locations: TOKYO, Tokyo, China, Japan

☆ Saudi is wild card in Middle East’s new turmoil
▼ + stars: | 2023-10-18 | by ( George Hay | ) www.reuters.com time to read: +8 min

Saudi Crown Prince Mohammed bin Salman attends the 18th consultative meeting of the leaders of the GCC & the Gulf summit with the central Asian countries C5, in Jeddah, Saudi Arabia, July 19, 2023. Saudi Press Agency/Handout via REUTERS Acquire Licensing RightsLONDON, Oct 18 (Reuters Breakingviews) - Mohammed bin Salman is the wild card in the Middle East’s new conflict. Saudi Arabia also needs prices above $85 a barrel in order to balance its budget. Saudi Arabia also needs to consider the views of international investors, though. For now, Saudi Arabia can count on the support of global bankers and fund managers.

Persons: Prince Mohammed bin Salman, Mohammed bin Salman, Joe Biden, Benjamin Netanyahu, Israel’s, Biden, Netanyahu, International Energy Agency reckons, Jamal Khashoggi, nix, Larry Fink, JPMorgan’s, Jamie Dimon, Israel, Antony Blinken, Jordan, ” Blinken, ”, “, Hossein Amirabdollahian, Al Jazeera, Peter Thal Larsen, Oliver Taslic Organizations: GCC, Saudi Press Agency, Handout, REUTERS Acquire, Reuters, Hamas, Israel . U.S, MbS, United, Gaza, International Energy Agency, Reuters Graphics Reuters, Saudi, kingdom’s Public Investment Fund, U.S, PGA, Foreign Investment, Telefonica, STC, BlackRock’s, Future Investment, United States, Diplomats, don’t, Palestinian, Israeli, United Arab, Iran’s, Thomson Locations: Saudi, Jeddah, Saudi Arabia, Israel, Iran, Palestinian, Israel ., United States, Gaza, OPEC, Russia, Saudi Aramco, Riyadh, Palestine, United, Amman, Jordan, Bahrain, Qatar, United Arab Emirates, Egypt, Lebanon, America

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