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Higher costs had the biggest impact on Asian businesses in 2023, even as they continued to grapple with a global economic slowdown and rising borrowing costs, according to a survey by UOB. Of those polled, 32% said they were impacted by high inflation, another 32% said they faced increased operating costs, while 24% said rising labor costs hurt their business, UOB's 2024 Business Outlook Survey reported. Still, about four out of 10 companies said they felt "very positive" about the business environment in 2023, while 32% said they were "somewhat positive," the survey showed. Some 35% of the companies polled said the business environment in 2023 declined compared to the previous year. To combat future headwinds, 30% of the companies said reducing business costs will be their top priority in the next one to three years.
Organizations: UOB, Survey Locations: Southeast Asia, Greater China, China , Hong Kong, Thailand, Vietnam, Malaysia, Singapore, Indonesia
A group of seven leading solar manufacturers filed trade complaints on Wednesday formally requesting that the Biden administration impose tariffs on solar products being exported from Southeast Asia into the United States. They come amid growing alarm within the U.S. solar industry that a flood of cheap Chinese green energy technology exports are pushing down prices of solar panels and threatening efforts by the Biden administration to develop a domestic solar supply chain. Chinese companies have been relocating production of solar products to neighboring countries to avoid existing tariffs, and U.S. manufacturers believe new trade measures are needed to protect their businesses. In the past year, the United States has imported $12.5 billion worth of solar products from those countries as prices of solar products have dropped by around 50 percent. The trade complaints are focused on imported solar cells, the parts of solar panels that turn light into electricity.
Persons: Biden Organizations: Department of Commerce, U.S . International Trade Commission Locations: Southeast Asia, United States, U.S, Vietnam, Cambodia, Thailand, Malaysia
A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.
Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's
The world is awash in solar panels after Chinese-owned firms flooded the market with cheap exports. Companies including Qcells, First Solar, and Swift Solar on Wednesday asked the Biden administration to slap tariffs on solar cells from four countries in Southeast Asia. The US solar companies allege that Chinese-owned firms operating in Cambodia, Malaysia, Thailand, and Vietnam are illegally undercutting the market. The petition by US solar companies — known as an anti-dumping and countervailing duty case — could lead to that. The probe will help determine whether solar panels were sold in the US at prices below the cost of production.
Persons: Biden, we've, Tim Brightbill, Wiley Rein, Joe Biden, Janet Yellen, Yellen, Premier Li Qiang Organizations: Service, Companies, Wednesday, Business, Wiley, China, Industry, Commerce Department, US Commerce Department, International Trade Commission, Premier, New York Times Locations: Southeast Asia, Cambodia, Malaysia, Thailand, Vietnam, Germany, America, Massachusetts, China
It's an urgent question — what do we do with the 40 million tons of plastic waste we produce annually? One year of plastic waste is roughly enough to smother the entirety of Manhattan a meter deep, and it has to go somewhere. For decades, America sent its plastic waste to countries like China and Indonesia. Unlike aluminum or glass, the plastic that can be recycled rarely results in replacing one recycled water bottle with another. By downcycling a tiny portion of plastic waste, companies can genuinely reuse a relatively small share of plastic, while convincing consumers that the industry has created a circular economy of infinitely recycled plastic.
Persons: Kartik Byma, they're, Tim Miller, Susan Freinkel, Nestlé, Lea Suzuki, Larry Thomas, what's, Taylor Dorrell, Biden, that's, Taylor, Miller, Kelley Sayre, Vicky Abou, it's, Mike Bloomberg, Bloomberg, Espen Barth Eide, Norway's, Abou, It's Organizations: Getty, America, Chevron, Exxon, Paper Stock, Plastics Industry Association, Organization for Economic Co, San Francisco, NPR, International Energy Agency, ExxonMobil, Alterra Energy, National Renewable Energy Laboratory, Royal Paper Stock, Akron, Buckeye Environmental, Business, Eastman Chemical Co, American Chemistry Council, New, Beyond Plastics, UN, Buckeye Environmental Network Locations: America, Manhattan, China, Thailand, Malaysia, Indonesia, AFP, Ohio, American, San Francisco, Akron, Taylor Dorrell Akron , Ohio, United States, Oregon, New York City
Read previewAn already delayed British Airways plane that took off from Singapore landed back at the same airport five hours later after a technical fault forced it to turn back. British Airways Flight 12 circled Singapore for around four hours before landing back where it started. Advertisement"Planes are designed to land below certain weights," Business Insider previously reported. Advertisement"We currently do not have a revised departure time for your flight," British Airways said in an email to passengers at about 9:15 a.m. local time. However, that flight had to be canceled, as British Airways did not have any other aircraft available.
Persons: Organizations: Service, British Airways, London Heathrow, Business, Airbus, Flightradar24 Aircraft, Passengers, Singapore Changi Airport, Heathrow Locations: British, Singapore, Singapore Changi, London, Malaysia, Heathrow, Los Angeles
Two helicopters in Malaysia crashed into each other in midair during a parade rehearsal on Tuesday. AdvertisementAt least 10 people have died after two Malaysian navy helicopters struck each other in midair during a parade rehearsal on Tuesday morning, local authorities said. The Malaysian navy said an investigative board will be set up to identify the cause of the incident. AdvertisementRescuers work on one of the crashed helicopters. AdvertisementThe AW139 typically sits up to four crew, and the Malaysian navy says it inaugurated three of the choppers in 2004.
Persons: , Bomba Bahagian Korporat, Leonardo AW139, Wolf Organizations: Service, Malaysian, Royal Malaysian Navy, Rescue Department, Malaysia, US Air Force, Air & Space Forces Magazine Locations: Malaysia, Lumut
Kuala Lumpur, Malaysia — Ten people were killed on Tuesday after two helicopters collided in mid-air during a rehearsal for a Royal Malaysian Navy parade, the navy said in a statement. All 10 were crew members aboard the aircraft involved in the accident, which occurred at the Lumut naval base in the western state of Perak at 9:32 a.m. local time, the navy said. “All victims were confirmed dead at the scene and sent to the Lumut army base hospital for identification,” the navy said. This is a breaking news story. More to follow …
Organizations: Royal Malaysian Navy Locations: Kuala Lumpur, Malaysia, Perak
We're pretty sure Kerry was executed there exactly two months later, in October 1978. So we had a memorial for Kerry, and then a few months later, John took his life. Rob Hamill rowing. Rob Hamill with Phil Stubbs, his teammate in the inaugural Atlantic rowing race in 1997. We got married about six months later, in 2001.
Persons: , Rob Hamill, Pol Pot, Kerry, Kerry Hamill, Rob Hamill Kerry, Stuart Glass, Stuart, John Dewhirst, John, Hamill, who'd, Phil Stubbs, Phil, Comrade Duch, Pot, Rachel, Finn, Declan, Ivan, Rob Hamill's, Renee Whitaker, Hamill's, Finn didn't, We've Organizations: Service, Business, Navy, Atlantic, New Zealand, Pacific Locations: New Zealand, Khmer Rouge, Communist, Cambodia, Australia, Darwin, Khmer, Malaysia's, Kerry, Phnom Penh, Asia, Tenerife, Barbados, Ireland, New, Thailand, Angkor Wat
KUALA LUMPUR, MALAYSIA - 2018/01/24: A foreigner is seen with a Malaysia flag as a background. Kuala Lumpur or commonly known as KL is the national capital for Malaysia and is the fastest growing metropolitan regions in South-East Asia. (Photo by Faris Hadziq/SOPA Images/LightRocket via Getty Images)Malaysia isn't fazed about competition from China or the U.S. as it pushes into higher-end semiconductor manufacturing, according to the country's second finance minister. "We're seeing a lot of end users now diversifying their supply chain. Our focus, actually, is to provide a very vibrant, strong supply chain connectivity, and make sure that we ride on that."
Persons: Faris Hadziq, Amir Hamzah Azizan, Karen Tso, Amir Hamzah Organizations: Getty Images Locations: KUALA LUMPUR, MALAYSIA, Malaysia, Kuala Lumpur, South, East Asia, China, Washington
Organizations and individuals who delay investing in the latest AI PCs risk falling behind in an increasingly competitive landscape where technological advancements are essential for staying innovative, collaborative, and secure. These AI PCs possess the ability to anticipate and comprehend user requirements, resulting in a highly personalized and responsive interaction. The new Latitude AI PCs can deliver up to 38% less power when running AI-enhanced collaboration features like Zoom.22. Content creators can save time by generating images 1.7 times faster with StabilityAI on their Dell AI PCs or Dell AI workstations with new Intel processors.33. Knowledge workers can optimize their Dell AI PCs by utilizing just 1% of CPU usage, effectively detecting malware with Crowdstrike4.
Persons: cyberattacks, Dell, Read, Forrester Organizations: Forrester, Processing, Dell, Intel, Dell Optimizer, Dell Technologies, Insider Studios, Forrester Consulting, Services Locations: NPU, Argentina, Chile, China, Colombia, Costa Rica, Guatemala, Hong Kong, Korea, Malaysia, Russia, South Africa, Taiwan, Ukraine, Venezuela, Vietnam, Thailand, Philippines
Photos show how the UAE, United States, and other countries have been seeding clouds for decades. Historic floods in Dubai didn't come from cloud seeding, but humans' climate impacts are playing a role. Related storiesAccording to several scientists, cloud seeding isn't the driving force behind Dubai's historic floods. Packets of salt are pictured during a cloud seeding operation at a military airbase in Subang, Malaysia. The real threat behind Dubai's floodsMany atmospheric scientists have dismissed the idea that cloud seeding was behind Dubai's floods.
Persons: GIUSEPPE CACACE, Getty, Prometheus, Frankenstein —, Thomas Peipert, Al Hayer, Amr Alfiky, Andrea DiCenzo, Lim Huey Teng, there'd, Friederike Otto, John Marsham, Jeff Big Jeff, Gary Coronado, Marsham, Fred Greaves, Otto Organizations: Dubai didn't, Service, United Arab Emirates, United Arab, UAE, Reuters, National Center of Meteorology, United, UAE's National, of Meteorology, Militia, Imperial College London, Science Media, SMC, University of Leeds, Los Angeles Times, Getty, UAE isn't, National Park Service, AP Locations: UAE, United States, Dubai, United Arab Emirates, Rocky, Lyons , Colorado, China, Australia, Al Ain, Utah, Dongkou county, Shaoyang, Hunan province, Subang, Malaysia, Bannon, Sacramento, , California, California's Sacramento County
The analysis, conducted by Bain & Company, GenZero, Standard Chartered and Temasek, found that $6.3 billion of green investments flowed into the region, representing a 21% year-on-year increase. Last year, Malaysia attracted large-scale green financing of over $500 million for at least two data centers, according to the Monday report. watch nowThe move came after the Singaporean government unveiled a sustainability standard for data centers operating in tropical climates. Despite these efforts, Singapore's overall green investments fell in 2023 to $0.9 billion from $1.2 billion a year prior. Green investment towards power in the region fell by 14% year-over-year for the second year in a row.
Persons: Singapore —, Kimberly Tan, GenZero's Tan Organizations: Istock, Getty, Bain & Company, GenZero, Chartered, International Energy Agency, Singapore Locations: Asia, Temasek, Malaysia, Singapore
Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.
Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany
“China calls on the international community, especially countries with influence, to play a constructive role for the peace and stability of the region,” the ministry added. The decision by Iran’s leaders to strike at Israel directly has pushed the shadow war between the two regional foes into the open. That’s why China does not condemn Iran,” said Yun Sun, director of the China program at the Washington-based Stimson Center think tank. Beijing meanwhile denounced the strike as a “barbarian act,” with protests erupting outside US diplomatic compounds across China. “For China, had US applies enough pressure on Israel, neither the Israeli attack nor the Iranian retaliation would have taken place.
Persons: Beijing’s, Antony Blinken, Wang Yi –, Saudi Arabia –, , William Figueroa, Figueroa, , Xi Jinping, China’s, Iran ”, Israel, ” Figueroa, Wang Wenbin, Wang, Yun Sun, Bill Clinton, Jiang Zemin, ” Sun, Kishida, Jaishankar, Israel Katz, Hossein Amirabdollahian Organizations: Hong Kong CNN, Foreign Ministry, Washington, US State Department, Hamas, Beijing, Tehran, University of Groningen, Global Security Initiative, CNN, Chinese Foreign Ministry, Stimson, NATO, Embassy, Japan’s, Israel’s Foreign, Iranian Locations: China, Hong Kong, East, Iran, Israel, Beijing, Gaza, Tehran, Damascus, Republic, Turkey, Saudi Arabia, Palestinian, Red, Tehran –, Netherlands, underinvestment, United States, Israeli, Syria, Quds, Washington, Belgrade, That’s, Yugoslavia, Asia, , India, Philippines, Malaysia, Indonesia
Vietnamese real-estate tycoon Truong My Lan was sentenced to death for her role in a $12.5 billion fraud case. Lan's fraud case is part of Communist Party Secretary Nguyen Phu Trong's corruption crackdown. Lan, the chairwoman of real-estate developer Van Thinh Phat Group, was arrested in 2022 over the fraud case. AdvertisementThe high-profile fraud case has scandalized the country and is raising questions about the one-party state. For context on the scale of the Vietnam fraud case, consider the 1MDB case, which rocked Malaysia and the world when it started to unravel in 2015.
Persons: Truong, Lan, Communist Party Secretary Nguyen Phu, , Van Thinh, Zachary Abuza, Trang Bui, Bui Organizations: Communist Party Secretary, Service, Prosecutors, Vietnamese Communist Party, National War College, Washington DC, Bloomberg, Cushman, Nikkei Locations: Vietnam, China, Malaysia, Malaysian, Hanoi, Washington, Wakefield
The scale of the fraud was said to be equivalent to roughly 3% of Vietnam’s economy. Though widely considered ceremonial, the presidency is one of the top three positions in Vietnam’s political hierarchy after the CPV’s Secretary General, currently Nguyen Phu Trong. In fact, the International Monetary Fund expects Vietnam’s economy to grow by 5.8% this year, compared to 4.6% for China. Their fate remains unclear, given the highly secretive nature of Vietnam’s political system. But Vietnamese political experts said a permanent appointment would not end the instability.
Persons: Truong My Lan, Van Thinh, siphoned, , Eric Chu, Vietnam’s, Vo Van, Trong, Thuong, Vo Van Thuong, Richard A, Brooks, Nguyen Xuan Phuc, Pham Binh, Le Hong Hiep, Yusof, ” Hiep, , Thu, General Trong, Xi Jinping, ” Zachary Abuza, Salt Bae, Lam, ” Abuza, Nguyen Phu Trong, Evelyn Hockstein, Abuza, Bui Thanh Soh, ” Soh, Vo, Xuan, Thuong’s, Le Hong Organizations: CNN, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, SCB, Express, Communist Party, Institute, Crisis Group, National War College, Vietnamese Communist Party, Public Security, Vietnam, International Monetary Fund, Companies, Apple, Intel, Vietnam's Communist Party General, Yusof, Brookings Institution, , Crisis Locations: Vietnam, Saigon, People’s, Ho Chi Minh City, Hong Kong, Duc, Singapore, Asia, China, Washington, , London, Turkish, Hanoi, Bangkok
This work diminished short-term revenue, but was best for customers, much appreciated, and should bode well for customers and AWS longer-term. We're also making progress on many of our newer business investments that have the potential to be important to customers and Amazon long-term. Being intentional about building primitives requires patience. Customers building their own FM must tackle several challenges in getting a model into production. Customers' AI models contain some of their most sensitive data.
Persons: Andy Jassy, Jassy, Jeff Bezos, he's, we've, Martha Stewart, Clinique, we're, We've, bode, We're, I've, iterating, We'd, we'd, Fox, affordably, you've, They're, Anthropic, that's, Claude, Dana, debugs, Slack Organizations: Amazon, Services, AWS, Deal, Prime, MGM, Savings, Regions, Citadel, Target, Storage Service, Netflix, Disney, Max, Paramount, CIA, . Intelligence, Amazon Freight, Carrier, Amazon Shipping, Foods, Drones, Amazon Pharmacy, Amazon Clinic, Robotics, Nvidia, Ricoh, NatWest, FMs, Meta, Bridgewater Associates, Farber Cancer Institute, Delta Air Lines, Intuit, KT, Lonely, LexisNexis, Netsmart, Pfizer, PGA, Rocket Companies, Siemens, Media, Inc Locations: North America, U.S, Europe, India, Brazil, Australia, Mexico, Middle East, Africa, Malaysia, New Zealand, Kingdom of Saudi Arabia, Thailand, Berlin, Hulu, Amdocs, Genomics England, GoDaddy, GenAI
CNN —The death of a toddler from extreme heat highlighted the risk of climate-related illnesses across Malaysia. And in the Philippines, hundreds of schools suspended classes after daily temperatures soared past 107 degrees Fahrenheit (42 degrees Celsius). Sweltering heat is back in Southeast Asia, one of the regions most vulnerable to climate change. But alongside these natural variations, the world continues to blast through climate records, with deadly heat waves becoming the norm. A resident attempts to pump underground water from a dried reservoir in Vietnam's central Ninh Thuan province during a heat wave and drought on April 6, 2024.
Persons: climatologist Maximiliano Herrera, Herrera, , ” Herrera, , El Niño, Stringer, Adly Zahari, Ahmad Zahid Hamidi, Aidil Iman Aidid, fasted Organizations: CNN, Getty, El, heatstroke, Education, Philippines Locations: Malaysia, Vietnam, Philippines, Southeast Asia, Thailand, Bangkok, Rice, Ninh Thuan, AFP, Asia, Pahang, Kelantan, Sabah, Borneo, Kuala Lumpur, Singapore, Manila
CNN —Monday’s total solar eclipse, one of the most highly anticipated events of 2024, has come and gone. But the next total solar eclipse won’t occur until August 12, 2026, said Amir Caspi, a principal scientist at the Southwest Research Institute in Boulder, Colorado. The next total eclipse in the USThe US won’t catch a glimpse of a total solar eclipse again until March 30, 2033, and even then the Russia-centric path includes only Alaska, with totality lasting 2 minutes and 37 seconds. A partial solar eclipse will shine over most of the country during that celestial event. The next total solar eclipse with a coast-to-coast path spanning the Lower 48 states will occur on August 12, 2045.
Persons: it’s, Amir Caspi, Caspi Organizations: CNN, NASA, Southwest Research, New Zealand, Democratic Locations: Chile, Argentina, South America, Boulder , Colorado, Greenland, Iceland, Spain, Russia, Portugal, Europe, Africa, North America, Alaska, North Dakota, Montana, California , Nevada , Utah , Colorado , Kansas , Oklahoma , Arkansas , Mississippi, Alabama, Florida, Australia, New, Namibia, Botswana, South Africa, Lesotho, Nigeria, Cameroon, Chad, Sudan, Egypt, Saudi Arabia, Iran, Afghanistan, Pakistan, India, China, North, South Korea, Japan, Angola, Democratic Republic of Congo, Uganda, Kenya, Somalia, Malaysia, Indonesia, Brunei, Philippines
Because UK Prime Minister Rishi Sunak was seen wearing a pair. “In a bid to present himself as young and hip… Sunak took an eternally cool sneaker, and ruined it for everyone,” added British GQ. It’s a far cry from the public reaction another political leader received after being spotted in a pair of sneakers. Mohd Rasfan/AFP/Getty ImagesSo why aren’t Sunak’s Sambas striking the same chord? Even the most ardent sneakerheads know there is a time and a place for a gum sole, and the British public have decided on-camera at 10 Downing Street is neither.
Persons: CNN — It’s, Harry Styles, Kaia Gerber, Bella Hadid, Paul Mescal, Rihanna, it’s, Rishi Sunak, , , relatable, Michael Hogan, … Sunak, It’s, Barack Obama, Stan Smiths, Kamala Harris, Chuck Taylors, Mohd Rasfan, Obama, Bill Clinton, George W, Bush, Ronald Reagan, Harris, Kevin McCarthy, Hakeem Jeffries, Donald Trump, Trump Organizations: CNN, Adidas Sambas, UK, Conservative, British, Guardian, GQ, Obama, Sneaker Con, Downing Locations: Kuala Lumpur, Malaysia, AFP, New York, Philadelphia, American
Going during monsoon season and not planning for the weather. Bangkok during the monsoon season. Marielle DescalsotaIn July, I traveled to Thailand on a reporting trip to cover the budding cannabis industry. I didn't plan for the weather, so I didn't have an umbrella or poncho with me and had to rush to get one at the last minute. This is a common occurrence in countries like Laos, Thailand, and the island of Borneo, which is shared between Brunei, Indonesia, and Malaysia.
Persons: Marielle Descalsota Locations: Bangkok, Thailand, Chakkrawat, Southeast Asia, Philippines, Laos, Borneo, Brunei, Indonesia, Malaysia
In many parts of Malaysia, Muslims caught eating or drinking during daytime hours can find themselves on the wrong side of the law. Those caught eating or drinking during daytime hours face fines of up to 1,000 Malaysian Ringgit (about $200) and prison terms of up to a year. CNN reached out to multiple state religious bodies across Malaysia for comment. Complaints were made to the state religious department, media reports said, and the scandal caused a national stir – drawing scorn from conservative politicians and prompting public apologies from the celebrities. “As long as you look Malay, you must fast during Ramadan – those are the rules,” Yusuf told CNN.
Persons: Rahmad Mariman, ” Mariman, TikTok, ” JAIPK, Hadi Awang, , MOHD RASFAN, , Ameena Siddiqi, Siddiqi, ” Siddiqi, Salahuddin Abdul Aziz, Annice Lyn, Anisah Mahmood, Fadhlina Sidek, , Haji Ahmad Bin Yahaya, Yusuf, ” Yusuf Organizations: CNN, Malaysian, Islamic Religious Department, JAIM, PAS, Malaysia Islamic Party, AFP, Getty, Annice, Education Locations: Malaysia, Malacca, Perak, Gerik, South, Southeast Asia, AFP, Malaysian, Islam, Kuala Lumpur, Shah Alam, Selangor, London, Malay, Johor
McDonald's signed a deal to purchase all 225 of the restaurants that comprise its Israel franchise, the American fast-food chain announced, following months of dramatically lower sales due to pro-Palestinian boycott action amid the Israel-Hamas war. "An agreement to sell Alonyal to McDonald's Corporation has been signed," the McDonald's statement said Thursday. "Upon completion of the transaction, McDonald's Corporation will own Alonyal Limited's restaurants and operations, and employees will be retained on equivalent terms." "We are dismayed by the disinformation and inaccurate reports regarding our position in response to the conflict in the Middle East," McDonald's Corp. said in a November statement. "McDonald's Corporation is not funding or supporting any governments involved in this conflict, and any actions from our local Developmental Licensee business partners were made independently without McDonalds' content or approval."
Persons: McDonald's, Omri Padan, Israel —, , Chris Kempczinski Organizations: Israel, Alonyal Ltd, McDonald's Corporation, McDonald's, Consumers, Gaza, enclave's Health Ministry, World Health Organization, McDonalds Locations: Israel, East, Malaysia, Indonesia
American chip giant Intel in December 2021 said it will invest more than $7 billion to build a chip packaging and testing factory in Malaysia, with production expected to begin in 2024. Malaysia holds 13% of the global market for chip packaging, assembly and testing services, said the Malaysian Investment Development Authority in a Feb. 18 report. Exports of semiconductor devices and integrated circuits increased by 0.03% to 387.45 billion Malaysian ringgit ($81.4 billion) in 2023, amid global chip demand weakness. Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai said many Chinese firms diversified some of their production to Malaysia, calling the country China's "plus one." In the same month, the world's largest contract chip maker TSMC opened its first Japan factory as it diversifies away from Taiwan amid U.S.-China tensions.
Persons: Faris Hadziq, Kenddrick Chan, Aik Kean Chong, Intel's, Tan, Yinglan Tan, Datuk Seri Wong Siew Hai, Zafrul Aziz, TSMC, Ann Lim Organizations: Getty, Malaysia, LSE, London School of Economics, Political, Semiconductors, Intel, CNBC, Infineon, Ventures Partners, Malaysian Investment Development Authority, Malaysian, Malaysia Semiconductor Industry, U.S ., U.S, China -, Partnership Locations: KUALA LUMPUR, MALAYSIA, Malaysia, Kuala Lumpur, South, East Asia, China, U.S, American, Penang, Another U.S, Singapore, Europe, Kong, GlobalFoundries Singapore, Klang, India, Japan, Taiwan, South Korea, Washington, Asia, China - U.S
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