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☆ Apple iPhone first-quarter shipments sink as Chinese challengers rise; Samsung regains top spot
▼ + stars: | 2024-04-15 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Apple shipped 50.1 million units In the first quarter, down 9.6% from the 55.4 million shipments in the same period a year earlier, according to the IDC report. Among the top five smartphone brands in the report, Apple recorded the sharpest decline year on year. Its market share was 22.5% in the first quarter of 2023. Apple, which surpassed Samsung as the largest smartphone maker in 2023, saw its market share drop to 17.3% from 20.7% a year earlier. Xiaomi's shipments rose 33.8% to 40.8 million units in the first quarter, while Transsion saw an 84.9% jump to 28.5 million units.

Persons: Patrick T, Fallon, PATRICK T, FALLON, Xiaomi, Apple, Ryan Reith, Transsion Organizations: Apple, Grove Apple, Getty, International Data Corporation, IDC, Samsung, Huawei, IDC Worldwide Mobility Locations: Los Angeles , California, AFP, China, Xiaomi

The U.S. has passed a series of export controls starting in October 2022 aimed at restricting China's access to advanced chip technology, particularly those used in AI applications. According to data from tech consultancy Omdia, China consumes nearly 50% of the world's semiconductors as it is the biggest market for assembling consumer devices. But, soon after, it was reported that Nvidia was working on a new chip made for China. The company did not respond to a request for comment on their plans for the China market. An analysis of Huawei's Mate 60 Pro smartphone by TechInsights revealed an advanced chip made by China's top chip maker, SMIC.

Persons: Wong Yu Liang, Chris Miller, William B, Bailey, Donald Trump, TechInsights Organizations: AMD MU, P Global, Intel, Broadcom, Qualcomm, Marvell Technology, U.S, The, CNBC, Nasdaq, Intelligence, Micron Technology, AMD, Nvidia, Huawei, Semiconductor Industry Association, America's Micron, country's Cyberspace Administration, Micron Locations: China, The U.S, U.S, Washington, Xi'an, Netherlands, Beijing

☆ China’s Xi to host former Taiwan president in Beijing, in rare meeting echoing bygone era of warmer ties
▼ + stars: | 2024-04-10 | by ( Nectar Gan | Wayne Chang | ) edition.cnn.com time to read: +10 min

Joint concerns over China’s increasing assertiveness under Xi, including toward Taiwan, are a key driver of that summit. Chinese leader Xi Jinping shakes hands with then Taiwan President Ma Ying-jeou before their meeting in Singapore on November 7, 2015. Taiwan's former President Ma Ying-jeou speaks to reporters ahead of his visit to China at the Taoyuan International Airport on April 1, 2024. Ma Ying-jeou” or former chairman of the KMT, with no mention of his former role as the president of Taiwan. Reaction in TaiwanMa’s itinerary – and his meeting with Xi – has been closely watched in Taiwan.

Persons: Xi Jinping, Ma Ying, Xi, Chiang Kai, Eric Chu, Ma, ” Chu, Lai Ching, Joe Biden, Biden, Fumio Kishida, Roslan Rahman, Amanda Hsiao, “, underscoring, ’ ”, Tsai Ing, –, Lai, Lai’s, fixating, ”, ” Sung, China –, Ma’s, Hsiao, Yan Zhao, Mr, Sun, Xi –, Sung, ” Ma, James Chen Organizations: Hong Kong CNN, Beijing, Kuomintang, KMT, China’s, shek’s Nationalists, –, Democratic Progressive Party, CNN Beijing, Japanese, Getty, International Crisis, Atlantic, “, Taoyuan International Airport, Communists, Nationalists, Atlantic Council, Taiwan’s Tamkang University, DPP Locations: China, Hong Kong, Taiwan, Beijing, Taipei, Singapore, Washington, Japan, Philippines, AFP, Taoyuan, Guangzhou, Republic of China, Shaanxi, United States, China . Washington

☆ Singapore tech salaries mostly fell in 2023, but these jobs saw wages jump
▼ + stars: | 2024-04-09 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Young Group Of Professionals Developing Business Strategy and Providing The Business PlanSINGAPORE — Tech salaries in Singapore mostly fell in 2023 amid a tech downturn, but certain roles — including for data science and cybersecurity — saw wages jump, according to a new report. The jobs that saw the highest wage increases year-on-year were data scientists (11.3%), systems analysts (8.27%), cybersecurity engineers (8.24%) and quality assurance (8.01%). The report, compiled by tech salaries aggregator Nodeflair, took into account more than 422,000 salary data points including pay slips, offer letters and job advertisements from different countries and companies of all sizes and industries. Nodeflair said that a surge in compensation for data scientists can be attributed to "a rising interest in generative AI." Last year saw an AI boom fueled by the launch of viral chatbot ChatGPT in November 2022.

Persons: —, Nodeflair Organizations: Plan SINGAPORE, Tech Locations: Singapore

☆ China says innovations, not subsidies, are powering EV edge as Yellen raises 'overcapacity' concerns
▼ + stars: | 2024-04-08 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

(Photo by BAY ISMOYO / AFP) (Photo by BAY ISMOYO/AFP via Getty Images)China's Minister of Commerce Wang Wentao said that the speedy rise of the country's electric vehicle firms was not because of subsidies, but due to "constant innovations." The allegations about "overcapacity" by the U.S. and Europe are without merit, he said, China's Ministry of Commerce reported Monday. Wang also attributed China's EV edge to "well-established supply chain system and market competition." The roundtable discussion centered around the European Union's anti-subsidy probe into electric vehicle imports from China, among other topics, according to the statement. Wang noted that the Chinese EV industry has "made an important contribution to the global response to climate change as well as green and low-carbon transformation."

Persons: ISMOYO, Commerce Wang Wentao, Wang Organizations: Getty, Commerce, U.S, China's Ministry of Commerce, EV, Commerce Ministry, EU Locations: Jakarta, Indonesia, AFP, Europe, Paris, China

☆ Songkran 2024: Celebrating Thailand’s annual New Year festival
▼ + stars: | 2024-04-05 | by ( Karla Cripps | ) edition.cnn.com time to read: +10 min

Bangkok, Thailand CNN —On the surface, Thailand’s annual Songkran festival appears to be just one great big water fight. Pipad Krajaejun, a history lecturer at Bangkok’s Thammasat University, says it’s difficult to pinpoint exactly when the water fights became such a key part of the festival. (We’ll share more on the water fights below.) Some towns limit the water fights to one day, so be sure to check ahead if you’re planning to join the battles. Soe Zeya Tun/ReutersAmong the highlights of the festival is the Maha Songkran Parade, which will happen on April 11.

Persons: Thailand CNN —, that’s, ”, Songkran, Boonserm Satraphai, Pipad, “, Soe Zeya Tun, University’s Pipad, Nam, Chalinee Thirasupa, MBK, Lauren DeCicca, John S Lander, it’s, CNN Travel’s Karla Cripps, she’s Organizations: CNN, Thailand CNN, UNESCO, Heritage, Bangkok’s Thammasat University, CNN Travel, ”, Thailand’s Tourism Authority, of, Reuters, Central Department, Thai Locations: Bangkok, Thailand, it’s, Chiang Mai, Thailand's, Khao San, Chiang, Old City, Pipad, Chiangmai, Thailand’s, Ratchadamnoen, Lanna, San

☆ Samsung expects first-quarter profit to soar 931% as memory chip prices rebound
▼ + stars: | 2024-04-05 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - MARCH 14, 2024 - Visitors visit the Galaxy S24 phones at SAMSUNG booth at AWE2024 in Shanghai, China, March 14, 2024. Samsung Electronics on Friday said it expects to post a 931% increase in first quarter operating profit, as chip prices rebound. Profit in the first quarter of 2023 was 0.64 trillion won. The profit guidance for the first quarter of 2024 exceeds LSEG's estimate of 5.24 trillion won. Daiwa maintained their "buy" rating on Samsung Electronics and lifted price target to 110,000 won.

Persons: Kim, Daiwa Organizations: Galaxy, SAMSUNG, Samsung Electronics, SK Kim, Daiwa Securities Locations: SHANGHAI, CHINA, AWE2024, Shanghai, China

☆ Tesla to explore locations in India for $3 billion EV factory, FT reports
▼ + stars: | 2024-04-04 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

An electric vehicle of the model Y is pictured during the start of the production at Tesla's "Gigafactory" on March 22, 2022 in Gruenheide, southeast of Berlin. The plant could be worth $2 billion to $3 billion, FT reported on Wednesday, citing two people with knowledge about the plans. The EV maker will focus on the states of Maharashtra, Gujarat and Tamil Nadu that already have automotive hubs, according to the report. India last month lowered import tariffs on certain EVs for automakers willing to invest at least $500 million and start domestic manufacturing in the country within three years. Modi met Tesla CEO Elon Musk in June and invited him to explore investment opportunities in India for electric vehicles.

Persons: Tesla, Patrick Pleul, PATRICK PLEUL, Narendra Modi's, Modi, Elon Musk Organizations: Getty, Financial Times Locations: Gruenheide, Berlin, Germany, India, Maharashtra, Gujarat, Tamil Nadu

☆ Malaysia emerges as a hotspot for semiconductor firms amid U.S.-China chip tensions
▼ + stars: | 2024-04-04 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

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

☆ U.S. loses its spot to China as Southeast Asia's most favored ally, survey finds
▼ + stars: | 2024-04-03 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

This is the first time Beijing has edged past Washington since 2020 when the annual survey first posed the question. China's aggressive behavior in the South China Sea is the Philippines' (90.2%) and Vietnam's (72.5%) top concern, the region's two frontline South China Sea claimant states. The Philippines President Ferdinand Marcos Jr. told Bloomberg last month that his government's claims on certain parts of the South China sea should not be viewed as provoking China. Vietnam has also asserted sovereignty over islands in the South China Sea though Beijing has brushed aside those claims. ASEAN should build up its resilience and unity to fend off pressures from the two major powers, the U.S. and China, nearly half of the survey respondents said.

Persons: ISEAS – Yusof, Ferdinand Marcos Jr, Kenddrick Chan Organizations: ASEAN Studies, Jan, Association of Southeast Asian Nations, ASEAN, China, Bloomberg, Philippines, U.S, LSE, London School of Economics, Political Science Locations: China, U.S, Washington, Beijing, Singapore, ISEAS, Indonesia . China, Japan, South China, Philippines, Vietnam, Southeast Asia

☆ Japan approves additional $3.9 billion in subsidies for semiconductor firm Rapidus to meet chip goals
▼ + stars: | 2024-04-02 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Japan said Tuesday it has approved up to 590 billion yen ($3.89 billion) in additional subsidies for chipmaker Rapidus Corporation, as the country plays catch up with other nations on semiconductor manufacturing. Rapidus Corporation was founded in 2022 by the Japanese government and eight domestic companies to develop and manufacture advanced semiconductors. Toyota Motor Corporation, Sony Group are among the companies that have invested billions of yen in Rapidus. Rapidus has received 330 billion yen from the Japanese government between 2022 and 2023 to mass produce 2-nanometer chips in Chitose, Hokkaido, from 2027. TSMC and Samsung currently produce 3-nanometer chips, while Rapidus is currently constructing an advanced semiconductor plant in Chitose.

Persons: Rapidus Organizations: chipmaker Rapidus Corporation, Japan's Ministry, Economy, Trade, Industry, Rapidus Corporation, Toyota Motor Corporation, Sony Group, Taiwan Semiconductor Manufacturing Company, South, Samsung Electronics, Samsung, IBM Locations: Japan, Rapidus, Chitose , Hokkaido, Chitose .

☆ Xi tells Dutch prime minister: No force can stop China’s tech advance
▼ + stars: | 2024-03-28 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

THE HAGUE, NETHERLANDS - MARCH 23:Dutch Prime Minister Mark Rutte meets with the President of the People's Republic of China Xi Jinping at the Catshuis March 23, 2014 in The Hague, Netherlands. (Photo by Valerie Kuypers-Pool/Getty ImagesChina's technological progress cannot be stopped, Chinese President Xi Jinping told Dutch Prime Minister Mark Rutte when they met in Beijing Wednesday for talks on areas such as the critical semiconductor industry. "The Chinese people also have legitimate development rights, and no force can stop the pace of China's scientific and technological progress," said Xi, according to Xinhua News Agency. Such EUV lithography machines are crucial for chip manufacturing and are used by companies like Taiwan's TSMC to make the smallest and most sophisticated chips. In January, the Netherlands barred ASML from exporting some of its deep ultraviolet lithography systems to China, which are used to make slightly less advanced chips.

Persons: Mark Rutte, Valerie Kuypers, Xi Jinping, Xi Organizations: Dutch, People's Republic of China Xi, Xinhua News Agency, U.S Locations: HAGUE, NETHERLANDS, People's Republic of China, The Hague, Netherlands, Beijing, China

☆ Apple could double down on China market, Wedbush says, as iPhone sales drop
▼ + stars: | 2024-03-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

SHANGHAI, CHINA - MARCH 21: Tim Cook, chief executive officer of Apple Inc., arrives for opening ceremony of the new Apple Jing'an store on March 21, 2024 in Shanghai, China. The new Apple store opens on March 21 in Shanghai's Jing'an district. (Photo by VCG/VCG via Getty Images)Apple could double down on the China smartphone market amid declining iPhone sales and stiff competition in the country, Wedbush Securities said on Monday. Apple needs to overcome its China challenges including a tough macro environment and competition from Huawei before the iPhone 16 release and "it all starts with reaffirming Apple's presence in China," Wedbush said. Cook's latest trip to China, which Wedbush said is "a sign Apple could double down" on China, comes amid reports of iPhone sales in China plunging 24% in the first six weeks of 2024.

Persons: Tim Cook, Wedbush, Commerce Wang Wentao, Cook Organizations: Apple Inc, Apple, Getty, Securities, Huawei, China's, Commerce, China Development Forum Locations: SHANGHAI, CHINA, Shanghai, China, Shanghai's Jing'an, Beijing

☆ China's new guidelines will block Intel and AMD chips in government computers: FT
▼ + stars: | 2024-03-25 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

China has rolled out new guidelines that will phase out U.S. processors in government computers and servers, effectively blocking chips from Intel and AMD , the Financial Times reported on Sunday. The procurement guidelines, unveiled on Dec. 26, are now being enforced and will also impact Microsoft 's Windows operating system and foreign-made database software as they favor Chinese alternatives, the report said. Government agencies higher the township level have been ordered to purchase "safe and reliable" processors and operating systems, FT said. AMD declined to comment on the report while Intel did not immediately respond to CNBC's request for comment. This comes as China has been boosting its domestic semiconductor industry as it seeks to reduce reliance on foreign technology.

Organizations: Intel, AMD, Financial Times, Microsoft, Government, U.S Locations: China

☆ Spring equinox: First day of spring arrives
▼ + stars: | 2024-03-19 | by ( Forrest Brown | ) edition.cnn.com time to read: +7 min

The spring equinox will arrive exactly at 3:06 UTC (Coordinated Universal Time) on Wednesday, March 20, according to EarthSky. Click here to look up the exact moment of the spring equinox where you’re located. Spring equinox has another nameIf you ever hear anyone say “vernal equinox,” it means the same thing. Zhang Xiaoyu/Xinhua News Agency/Getty ImagesIn Japan, Vernal Equinox Day is a public holiday (on Wednesday, March 20, this year). In China, trying to stand an egg upright is a popular game during the spring equinox, according to VisitBeijing.com.

Persons: Tuesday •, •, • Chiang Mai, David Silverman, Alex Pena, It’s, you’ve, it’s, Hugo Borges, Itzá, El Castillo, Zhang Xiaoyu, ” Organizations: CNN, Tuesday, United, Southern, Anadolu Agency, Getty, NASA, Northern Hemisphere, Northern, Southern Hemisphere, National Weather Service, Heritage, Xinhua News Agency Locations: • Anchorage, Alaska, Vegas ( Nevada, Tuesday • Guadalajara, Mexico, Chicago, Illinois, Toronto, Canada, Jacksonville, Florida, Halifax, • Dublin, Ireland, Accra, Ghana, • Berlin, Germany, • Alexandria, Egypt, • Ankara, Turkey, • Dubai, United Arab Emirates, • Mumbai, India, Thailand, • Hong Kong, • Tokyo, Japan, Stellenbosch , South Africa, Northern, South, Quito, Ecuador, Singapore, San Andrés, Zapotitán, El Salvador, Pole, Scandinavia, Itzá, Yucatan State, AFP, England, Malta, Yoyogi, Tokyo, Vernal, Persian, China

☆ World’s worst polluted cities are in Asia - India’s Begusarai topping IQAir report
▼ + stars: | 2024-03-18 | by ( Helen Regan | ) edition.cnn.com time to read: +8 min

“We see that in every part of our lives that air pollution has an impact,” said IQAir Global CEO Frank Hammes. “And it typically, in some of the most polluted countries, is likely shaving off anywhere between three to six years of people’s lives. Central and South Asia were the worst performing regions globally, home to all four of the most polluted countries last year: Bangladesh, Pakistan, India and Tajikistan. South Asia is of particular concern, with 29 of the 30 most polluted cities in India, Pakistan or Bangladesh. One bright spot is increasing pressure and civic engagement from communities, NGOs, companies, and scientists to monitor air quality.

Persons: ”, Frank Hammes, Hammes, “ What’s, IQAir, Chiang Mai, that’s, ” Hammes Organizations: Hong Kong CNN, Health, IQAir, WHO, Dhaka, CNN, America, Reuters Locations: Hong Kong, Asia, India, India’s Bihar, Guwahati, Assam, Delhi, Mullanpur, Punjab, South Asia, Bangladesh, Pakistan, Tajikistan, Lahore, New Delhi, Finland, Estonia, Puerto Rico, Australia, New Zealand, Bermuda, Grenada, Iceland, Mauritius, French Polynesia, Canada, Alberta, United States, Minneapolis, Detroit, Columbus , Ohio, Portland, Seattle, Los Angeles, China, Beijing, Hotan, Southeast Asia, Philippines, Indonesia, Vietnam, Thailand, Bangkok, Africa, South America, Burkina Faso, Rwanda, Chad

☆ I took a luxury overnight bus in Thailand and got 10 hours of business-class service for $30. The US should take notes.
▼ + stars: | 2024-03-16 | by ( Brendan Sainsbury | ) www.businessinsider.com time to read: +1 min

I paid $30 to take a luxury Sombat Tour bus from Bangkok and Chiang Mai. Boarding the bus was easy and the service on board reminded me of business class. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBus transport varies considerably from country to country, from super-slick intra-city buses in Mexico to down-at-heel Greyhounds in the US. On a recent visit to Thailand, I experienced my most deluxe bus ride to date.

Persons: Chiang Mai, —, I've Organizations: Service, Greyhounds Locations: Bangkok, Mexico, Thailand

☆ Look beyond Nvidia to ride the AI wave — there are other potential winners, Fidelity says
▼ + stars: | 2024-03-15 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

There's a whole world of stocks beyond flashy AI names such as Nvidia for investors looking to ride the latest tech wave, according to investment firm Fidelity International These indirect AI plays include semiconductor foundries, packaging technology companies and memory companies, the investment firm said in a report Wednesday. In our view, AI will follow a similar trend," said Fidelity analysts. "These include semiconductor foundries, packaging technology companies and memory companies. However, looking beyond Nvidia, stocks in the AI-related sectors outlined by Fidelity have also been on the up. Customer services firms, business process outsourcing and music content companies could also offer opportunities, said Fidelity, as they "embrace and adapt to AI."

Persons: Fidelity Organizations: Nvidia, Fidelity International, Fidelity, ChatGPT, Taiwan Semiconductor Manufacturing Company, Samsung, SK Hynix, Nasdaq Locations: Stock, South Korean

☆ U.S. curbs on China to rise as 'decoupling is really in full force,' expert warns, amid possible TikTok ban
▼ + stars: | 2024-03-12 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

"The question is to what extent and how broad will it be," Okun told CNBC's "Street Signs Asia" on Monday. House Speaker Mike Johnson told reporters the TikTok divesture bill will be on the floor on Wednesday. The Committee wants a "reset," with China Okun said. It is going to apply certainly into biotech – I think this is the sector you want to watch next." The U.S. Senate voted earlier this month to approve a bill that could restrict business with Chinese biotech firms, such as WuXi AppTec and BGI, on national security concerns.

Persons: Steven Okun, Okun, CNBC's, Mike Johnson, China Okun Organizations: APAC Advisors, ByteDance, Chinese Communist Party, U.S, Senate Locations: China, America, U.S, WuXi

☆ China could flood U.S. electric-vehicle market with its offerings, Energy Secretary Jennifer Granholm warns
▼ + stars: | 2024-03-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

U.S. Energy Secretary Jennifer Granholm speaks to reporters during a press briefing at the White House in Washington, June 22, 2022. China could flood the U.S. electric-vehicle market with its offerings, Energy Secretary Jennifer Granholm warned Wednesday, weeks after President Joe Biden raised similar concerns. China is being perceived as a threat to the U.S. auto industry as U.S. vehicle exports decline and companies such as General Motors cut international operations. "We saw this happen in the solar industry ... there was a flooding of the market," Granholm said. China exported nearly 5 million vehicles in 2023, China Association of Automobile Manufacturers data showed, overtaking Japan to become the world's No.1 country for car exports in 2023.

Persons: Jennifer Granholm, Joe Biden, Granholm, Fitch Organizations: Energy, White, U.S, Motors, China Association of Automobile Manufacturers, EV Locations: Washington, China, U.S, Japan

☆ India’s booming tech sector suffers a big blow as Byju’s and Paytm plunge into crisis
▼ + stars: | 2024-03-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

A subsequent audit "revealed persistent non-compliances and continued material supervisory concerns in the bank," the central bank said on Jan. 31. Yet to be profitable, Paytm is also reportedly being probed by the federal anti-fraud agency on possible violations of foreign exchange laws. On Feb. 26, One97 Communications, the parent company of Paytm, said in an exchange filing that founder and CEO Vijay Shekhar Sharma had resigned from the board of Paytm Payments Bank. During the pandemic, Paytm capitalized on the digital payments boom in India, reporting a 3.5 times growth in transactions. SoftBank and Ant Group are now reportedly cutting their stakes in the payments company, according to local media.

Persons: Anindito Mukerjee, There's, Karan Mohla, Paytm, Vijay Shekhar Sharma, SoftBank Organizations: Bloomberg, Getty, B Capital, Reserve Bank of India, One97 Communications, Paytm Payments, Alibaba, Ant, Ant Group Locations: Greater Noida, India

☆ Asia's tech industry is recovering on chip boom amid global economic uncertainty, JPMorgan says
▼ + stars: | 2024-03-06 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

SINGAPORE – Asia-Pacific's tech sector has been growing on the back of the semiconductor boom even as other industries struggle amid global macro uncertainty, according to investment bank JPMorgan. "Tech has been recovering, that's why Asia has done reasonably well in the second half of last year. China industry benefited, North Asia obviously benefited more from it," Bruce Kasman, chief economist at JPMorgan said in a media briefing on Tuesday. Global tech spending weakened in 2023 while layoffs rose, said Deloitte in a report on tech industry's 2024 outlook. The recovery in tech is significant as other industries are still struggling.

Persons: Bruce Kasman, Deloitte, Ong Sin Beng Organizations: JPMorgan, Tech, Global, Deloitte, Nvidia Locations: SINGAPORE – Asia, that's, Asia, China, North Asia, U.S

☆ Singapore's Sea Limited posts first profitable year amid efforts to defend market share against Lazada, TikTok
▼ + stars: | 2024-03-05 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Southeast Asian tech giant Sea Limited on Monday posted its first profitable year amid efforts to defend market share against Alibaba -owned Lazada and TikTok. Net income in 2023 was $162.7 million, as compared to a net loss of $1.7 billion in 2022. Sea's e-commerce arm Shopee made a "meaningful gain in market share" in 2023 despite "intensified competition in Southeast Asia," the firm said on Monday. Sea also said Shopee's market share in the region has "solidified" and the firm intends to "maintain our market share in 2024." Tokopedia merged with TikTok Shop in Indonesia to form an enlarged Tokopedia entity, in which TikTok will take a controlling stake of 75.01%.

Persons: Forrest Li, Li, Sea's, Shopee Organizations: Alibaba Locations: MariBank, Singapore, Sea's New York, Southeast Asia, Indonesia

☆ Charmed by a City Off Thailand’s Beaten Path
▼ + stars: | 2024-03-04 | by ( Patrick Scott | ) www.nytimes.com time to read: 1 min

Thailand is renowned among hard-charging tourists for nightlife in Bangkok, full moon parties on Koh Phangan island and hedonistic walking streets in Pattaya. It’s also a magnet for the bohemian and wellness crowds who flock to the mountain destinations of Chiang Mai and Pai. But mostly ignored by foreign tourists is Lampang, in Northern Thailand. This utterly charming, riverside city of about 90,000 people has preserved the historic architecture and stately squares from its days as a major city in the ancient Lanna kingdom and a hub in the teak lumber trade. Wooden temples from centuries ago and two-story teak mansions from the late 1800s and early 1900s still stand, and alongside the Wang River, the streets in the Kat Kong Ta enclave are like an open-air museum of well-preserved Chinese shophouses and European gingerbread-style buildings.

Persons: Koh, Chiang Mai, Pai Locations: Thailand, Bangkok, Pattaya, It’s, Lampang, Northern Thailand

☆ I can't visualize or recall images. I make a living traveling the world and take photos to preserve my memories.
▼ + stars: | 2024-03-03 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +9 min

Courtesy of Kate BoardmanI've always enjoyed sharing my adventures and experiences, and capturing my life through photos and videos to show the world. Kate Boardman at the summit of Mt. AdvertisementGenerally, I feel quite safe when I'm traveling. Kate Boardman in Australia. Courtesy of Kate BoardmanThrough my content, I hope to show people that the world is not a scary place.

Persons: —, Kate Boardman, There's, I've, Kate Boardman I've, It's, Aphantasia, Boardman, Chiang Rai, You've, I'm, it's Organizations: Service, Business, Roger Williams University, White Locations: Massachusetts, Vietnam, Australia, Guatemala, Bahrain, Germany, France, Thailand, Indonesia, Luang Prabang, Laos, Mexico, Cancun, Rio Dulce , Guatemala, Rhode Island, Bali, Cambodia, Mt, Kilimanjaro, Tanzania, Iran, Pink Lake, Kate Boardman Vietnam, Italy, Krabi, I'm

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