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☆ Marvell founders launch $2 bln chips foundry in Singapore
▼ + stars: | 2023-07-20 | by ( Fanny Potkin | ) www.reuters.com time to read: +1 min

[1/3] Silicon Box's chiplets are displayed during the opening of their advanced semiconductor manufacturing foundry in Singapore July 20, 2023. REUTERS/Edgar SuSINGAPORE, July 20 (Reuters) - Singapore-based Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of "chiplet" technology. Silicon Box was created by the founders of U.S chipmaker Marvell (MRVL.O), Sehat Sutardja and wife Weili Dai, along with current CEO BJ Han. CEO Han told Reuters that "customers had been lining up" even before the factory's launch, with artificial intelligence firms driving demand. He said Silicon Box was in talks to supply Canadian AI startup company Tenstorrent.

Persons: Edgar Su SINGAPORE, Sehat Sutardja, Weili Dai, BJ Han, Han, Fanny Potkin, Sam Holmes Organizations: REUTERS, Singapore's Economic, U.S chipmaker Marvell, Reuters, Thomson Locations: Singapore

[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton. The EU is planning to use the upcoming G20 meetings to further push for global collaboration on AI, notably with 2023 president India, van Huffelen told Reuters.

Persons: Florence, Alexandra van Huffelen, van Huffelen, Thierry Breton, Breton, Fanny Potkin, Sam Nussey, Supantha Mukherjee, Joyce Lee, Tomasz Janowski Organizations: REUTERS, European, EU, Reuters, Officials, General Data, European Union, South Korean, Thomson Locations: Florence Lo, SINGAPORE, TOKYO, STOCKHOLM, Asia, India, Japan, South Korea, Singapore, Philippines, Canada, Turkey, Israel, EU, France, Germany, Italy, Britain, United States, Hiroshima, Seoul

[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. The officials asked not be named as the discussions, whose extent has not been previously reported, remained confidential. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton.

☆ Some restaurants are now adding $10,000 tiny stools for luxury handbags
▼ + stars: | 2023-07-11 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Some middle-tier restaurants are now stocking stools for diners to place their luxury handbags on. One restaurant in Paris even stocks Hermés stools that cost almost $10,000 a piece. Priced at $9,150, the stools are more expensive than many luxury handbags. "Fine-dining-only service points have made their way into more mainstream restaurants as service, generally, has become elevated across the industry." Such shoppers are generally more likely to be the target market for expensive restaurants touting their handbag stools.

Persons: Le, Shingo, Shingo Akikuni Organizations: Service, Bloomberg Locations: Paris, Wall, Silicon, Europe, Harbor, Massachusetts, Coral Gables, Circana

☆ Startup e-commerce platform Temu expands to Japan
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, July 6 (Reuters) - Ultra low-cost e-commerce platform Temu, owned by PDD Holdings (PDD.O), has started selling to Japan, marking its first foray into the Asian market. The marketplace, the sister site of Chinese discount e-commerce platform Pinduoduo, ships everything from clothing to electronics and home goods, mainly from Chinese merchants to customers overseas at rock bottom prices. A drop-down menu on Temu's website confirms Japan is one of the countries it now ships to. Temu and PDD Holdings did not immediately respond to a request for comment on its recent expansion or future plans. Vion Zhi Voon Yau, head of research at consultancy Momentum Works, described Japan as an "attractive, affluent" market for Temu.

Persons: Vion Zhi Voon Yau, Casey Hall, Fanny Potkin, Emelia Sithole Organizations: PDD Holdings, Japan, Momentum Works, Temu, Thomson Locations: SHANGHAI, Japan, United States, Boston

☆ Cambodia bars Meta oversight board over PM's Facebook account suspension
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

July 4 (Reuters) - Cambodia said on Tuesday Meta Platforms Inc's (META.O) 22-member oversight board was unwelcome in the country, days after the panel recommended suspending Prime Minister Hun Sen's Facebook account over content violations. The board's recommendation was "political in nature", Cambodia's foreign affairs ministry said. Hun Sen's Facebook account went offline last week after the Oversight Board, which is funded by Meta but operates independently, said the platform had been wrong not to remove a video he published in January that breached rules against violent threats. Hun Sen, one of the world's longest-serving leaders with nearly four decades in power, last week declared ahead of his account suspension that he would switch to communicating with his people via Telegram. One Oversight Board member, veteran Indonesian journalist Endy Bayuni, said he was not aware if any colleagues were in Cambodia or had to leave.

Persons: Hun, Meta, Hun Sen, Endy Bayuni, Kanupriya Kapoor, Fanny Potkin, Devika Organizations: Facebook, Meta, Cambodian People's Party, Reuters, Thomson Locations: Cambodia, Indonesian

☆ Hollywood's love affair with private credit could be a recipe for disaster
▼ + stars: | 2023-06-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Private credit goes Hollywood. A town that loves a good story has a leading role in the biggest one on Wall Street. So in that vein, private credit filling the gap left by banks reconsidering their lending decisions is great. Ratings agency Moody's has already raised the alarm, suggesting defaults among borrowers in private credit will rise. But I think it's fair to say that industry isn't as cut and dried as others private credit might be lending to.

Persons: Dan DeFrancesco, fanny, —, we've, Maks, it's, Insider's Reed Alexander, Rebecca Ungarino, Reed, Rebecca, Moody's, Consuelo Vanderbilt Costin, Bryan Griffin, James, Jim, Crown, Henry Crown, Junius Myer Schine, David Sinclair, Jeffrey Cane, Hallam Bullock Organizations: Credit Suisse, Wall, Investment, Hollywood, Creators, The Vanderbilt, UBS, JPMorgan, Fidelity, Wall Street, LinkedIn Locations: Hollywood, Swiss, Aspen , Colorado, Silicon, Jersey Shore, New York, London

☆ Gen Z and millennial shoppers are swapping handbags for fanny packs and totes
▼ + stars: | 2023-06-27 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Gen Z and millennial shoppers are ditching handbags for fanny packs and tote backs. The pandemic made remote working a norm and this popularized casual wear for various occasions. According to new data from consumer behavior analysis firm Circana – which tracks the online and in-store purchases of 150,000 US consumers – Gen Z and millennial consumers aged between 18 and 34 are buying fewer handbags than older shoppers. "Versatile, hands-free options, including backpacks and fanny packs, have proven to be very desirable," she added. Fanny packs have had a comeback in recent years among younger generations because they're small enough to hold essential items when going clubbing or to a festival.

Persons: Z, fanny, —, Gen Z, Millennials, Beth Goldstein, Circana Organizations: tote, Service

☆ This Clever Crossbody Bag Is My Secret to Stress-Free Travel Days
▼ + stars: | 2023-06-26 | by ( Hannah Selinger | ) www.wsj.com time to read: +4 min

Until, that is, a friend familiar with my travel-purse struggles surprised me with the gift of my new travel savior: the July “Carry Me” Bag. My small, handy purse helped me navigate a new-to-me place with ease, thanks to its clever construction. The Carry Me bag, available in seven different colors—I prefer the Clay hue—is no ordinary travel bag; I’ve had plenty of those. On hot days on my trips to both Turks & Caicos and Türkiye, being able to quickly open my bag and reach for my sunnies was essential. The Carry Me Bag also comes with a detachable, adjustable strap—an essential for my traveling purposes.

Persons: Hannah Selinger, fanny, it’s, I’m Locations: Caicos , New York, Türkiye, Istanbul, Australian

Where can a Chinese buyer purchase top-end Nvidia (NVDA.O) AI chips in the wake of U.S. sanctions? A model similar to OpenAI's GPT would require more than 30,000 Nvidia A100 cards, according to research firm TrendForce. Nvidia's more advanced H100 chips, only on the market since March, appear much harder to come by. He added the premiums currently commanded by Chinese vendors for A100 and H100 chips could collapse in the future as many of the Chinese AI startups that were driving purchases would eventually withdraw from the market. ($1 = 7.8307 Hong Kong dollars)Reporting by Josh Ye in Hong Kong, David Kirton in Shenzhen and Chen Lin in Singapore; Additional reporting by Fanny Potkin in Singapore; Editing by Brenda Goh and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden's, OpenAI's, Ivan Lau, Hong, ByteDance, Vinci Chow, Charlie Chai, Josh Ye, David Kirton, Chen Lin, Fanny Potkin, Brenda Goh, Edwina Gibbs Organizations: Nvidia, SEG, Reuters, supercomputing, HK, U.S . Department of Commerce, China's, Information, Tencent Holdings, Taobao, Chinese University of Hong, Thomson Locations: HONG KONG, SHENZHEN, China, U.S, Shenzhen, Hong Kong, India, Taiwan, Singapore, Chinese University of Hong Kong, Shanghai

Senior Southeast Asian officials said the so-called ASEAN Guide on AI Governance and Ethics was taking shape and would try to balance the economic benefits of the technology with its many risks. The other ASEAN countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The sources declined to comment further on what the AI guide would look like, given the early stage of the discussions and confidentiality of the ASEAN process. The sources, who included officials in three Southeast Asian countries, declined to be identified as they were not authorised to speak to the media. The island city-state has been at the forefront of AI strategy in the region and is leading the talks to draw up the AI guide, according to three sources.

Persons: Fanny Potkin, Panu, Stephen Coates, William Mallard Organizations: Reuters, Regulators, Association of Southeast Asian Nations, ASEAN, Senior Southeast, ASEAN Digital Ministers, Singapore’s Ministry for Communications, Information, European Union, Media Development Authority, Thomson Locations: SINGAPORE, BANGKOK, ASEAN, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, United States, Europe, U.S

SINGAPORE/BANGKOK, June 16 (Reuters) - Southeast Asian countries are drawing up governance and ethics guidelines for artificial intelligence (AI) that will impose "guardrails" on the booming technology, five officials with direct knowledge of the matter told Reuters. Senior Southeast Asian officials said the so-called ASEAN Guide on AI Governance and Ethics was taking shape and would try to balance the economic benefits of the technology with its many risks. The other ASEAN countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The sources, who included officials in three Southeast Asian countries, declined to be identified as they were not authorised to speak to the media. The island city-state has been at the forefront of AI strategy in the region and is leading the talks to draw up the AI guide, according to three sources.

☆ New GoTo CEO Walujo may not stay in top job long - sources
▼ + stars: | 2023-06-14 | by ( Fanny Potkin | ) www.reuters.com time to read: +2 min

SINGAPORE, June 14 (Reuters) - Incoming GoTo (GOTO.JK) CEO Patrick Walujo is planning to head the Indonesian technology company only temporarily and resign after improving profitability, as he splits his time between it and a private equity firm he co-founded, according to sources. The prominent Indonesian dealmaker, whose private equity firm Northstar Group was one of the earliest backers of GoTo's ride hailing business Gojek, was named as the CEO of GoTo last week. GoTo was created in 2021 through a merger of Gojek and e-commerce firm Tokopedia. Walujo, who will continue to manage Northstar, does not plan to stay for a full three-year term as GoTo CEO, said three sources, including people briefed by him and company investors. The sources said the timing of Walujo's tenure was likely to depend on how quickly he can trim spending and improve profits.

Persons: GoTo, Patrick Walujo, Walujo, Goldman Sachs, Fanny Potkin, Miyoung Kim, Robert Birsel Organizations: Northstar Group, Northstar, Reuters, Thomson Locations: SINGAPORE, Indonesian, Gojek, HK, The Jakarta, U.S, Singapore

HONG KONG/SINGAPORE, June 1 (Reuters) - Southeast Asian e-commerce and gaming giant Sea Ltd (SE.N) is winding down its investment arm, two people with knowledge of the matter said, amid a cooling investment environment globally as macroeconomic and market uncertainty weigh on valuations. The arm, Sea Capital, stopped new equity investing in 2022 with leadership moving on in May, while Sea itself is placing less priority on investing given market conditions, one of the people said. Singapore-based Sea launched Sea Capital in March 2021 with initial capital of $1 billion after buying Hong Kong's Composite Capital Management, founded by former Hillhouse Capital partner David Ma who became Sea's chief investment officer. One of the people said the decision to wind down Sea Capital was prompted by "less deal activity" resulting in fewer investment opportunities. Sea Capital had made at least three investments, including in 2021 into collapsed cryptocurrency exchange FTX.

Persons: David Ma, Ma, FTX, Kane Wu, Fanny Potkin, Sumeet Chatterjee, Christopher Cushing Organizations: Capital, Hong Kong's, Capital Management, Hillhouse, Sea, U.S, Asia's, Thomson Locations: HONG KONG, SINGAPORE, Asia, Japan, Singapore, New York, Sea, India, Europe, Hong Kong

HONG KONG/SINGAPORE, June 1 (Reuters) - Southeast Asian e-commerce and gaming giant Sea Ltd (SE.N) is winding down its investment arm, two people with knowledge of the matter said, amid a cooling investment environment globally as macroeconomic and market uncertainty weigh on valuations. The arm, Sea Capital, stopped new equity investing in 2022 with leadership moving on in May, while Sea itself is placing less priority on investing given market conditions, one of the people said. Singapore-based Sea launched Sea Capital in March 2021 with initial capital of $1 billion after buying Hong Kong's Composite Capital Management, founded by former Hillhouse Capital partner David Ma who became Sea Capital's chief investment officer. One of the people said the decision to wind down Sea Capital was prompted by "less deal activity" resulting in fewer investment opportunities. Sea Capital had made at least three investments, including in 2021 into collapsed cryptocurrency exchange FTX.

☆ How my credit card saved the day when my phone was stolen on a trip abroad
▼ + stars: | 2023-05-19 | by ( Liz Hund | ) edition.cnn.com time to read: +8 min

Why the Chase Freedom Flex saved the day when my phone was stolenMy credit card reimbursed me for my stolen smartphone. Additionally, the Freedom Flex’s cell phone insurance is secondary to any other insurance you have that covers your phone. Credit cards with cell phone insuranceA number of credit cards include cell phone insurance. However, some banks — namely Citi — have removed cell phone insurance as a credit card benefit, even for World Elite Mastercards. Check out CNN Underscored’s full guide to the best credit cards for cell phone insurance for the full list, which includes popular travel credit cards.

Even if the whole world stands with him, we will bring him to justice," said Houaida Muhi Aldeen, a 49-year-old Syrian living in France and a former political detainee in Syrian prisons. Muhi Aldeen and other workshop attendants are among millions of Syrians displaced by the 12-year war. They found Assad's reintegration into the Arab League after more than a decade of isolation frustrating, but not surprising. "This is the goal of this (normalization) step, to sow despair and frustration among Syrians," said Anwar al-Bunni, a lawyer helping prosecute Syrians suspected of war crimes in Germany. Arab normalisation with Assad would make it more difficult for Syrian refugees to return, said Muhi Aldeen.

☆ This Skort Is the Best Summer Clothing Item I’ve Ever Purchased
▼ + stars: | 2023-04-24 | by ( ) www.wsj.com time to read: +4 min

By Madeline DiamondDressing for the summertime (especially in hot and sticky New York City) has always been a pain for me. For the past two summers, I’ve lived in the brand’s Sport Skort. Instead, I’m full of confidence when I wear it, thanks to the security of built-in bike shorts that have a compressive but not restrictive fit. Plus, the summer heat was no match for the skort’s soft, stretchy blend of RPET (a fabric sourced from recycled plastic bottles) and spandex. Up close, its texture looks like a typical pair of leggings, yet the fabric’s matte finish makes it blend nicely with dressier clothing.

☆ I grew up in Coachella Valley. Here are 10 mistakes I see tourists make when they visit for the music festival.
▼ + stars: | 2023-04-14 | by ( Kaitlin Clapinski | ) www.businessinsider.com time to read: +7 min

Read previewI was raised in the Coachella Valley, a destination known for its excessive heat, older demographics, and Coachella Valley Music and Arts Festival. Getting home with a rideshare is also challenging since the cell service on the festival grounds isn't always great. Related storiesIf you can, rent a locker on the festival grounds and store a jacket for later. The need for a cohesive outfit should never override functionality, especially at a music festival. The music festival has water-bottle-refill stations and they usually aren't super crowded, in my experience.

Persons: —, I've, isn't, Kaitlin Clapinski, fanny, groaning, BLACKPINK Organizations: Service, Coachella Valley Music, Arts, Business, Coachella Locations: Coachella, Santa

A CHINESE COMPANY? Those rules followed a regulatory crackdown that has slowed U.S. listings by Chinese companies to a trickle. Chinese companies raised only around $230 million in U.S. listings last year, a massive drop from $12.9 billion in 2021, according to Refinitiv data. It was not immediately clear if SHEIN is planning to officially seek Chinese regulatory approval for its IPO. The moves were designed so that SHEIN could bypass seeking Chinese regulatory approval for the listing, sources have previously said.

Diverse creators are building incubators, their own production pipelines and venues where they can screen work and receive feedback and support each other. Of the 13,252 Oscar nominees since 1929, 6% are from underrepresented ethnicities, a USC Annenberg Inclusion at the Academy Awards report concludes. Located in Atlanta and Los Angeles, it creates collaborative spaces for diverse talent to support each other. As the most underrepresented group in the industry, Latino talent is also keen to change their narrative. There were 32 years without Latino nominees at the Academy Awards, with the most recent shutout in 2002.

SINGAPORE, Feb 24 (Reuters) - U.S streaming giant Netflix Inc (NFLX.O) is making preparations to open an office in Vietnam after years of negotiations with authorities and completing a risk assessment, two sources with knowledge of the matter said. Netflix declined to comment in response to Reuters questions about its plans and its current operations in Vietnam. The office could open as early as late 2023 but will require a lengthy regulatory process that could take longer, according to one of the sources. As Vietnamese officials grow more confident in the country's rising consumer power, however, they have begun ramping up pressure on tech firms to abide by the rules. With the fastest growing middle class in Southeast Asia, Vietnam has become a key market for tech giants.

☆ Hot dog fingers and googly-eye rocks from 'Everything Everywhere All at Once' could be yours as A24 auctions dozens of props and costumes
▼ + stars: | 2023-02-24 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +2 min

A24 announced an auction of dozens of props and costumes from "Everything Everywhere All at Once." There are over 40 items for sale, including the famous "hot dog finger" gloves and several costumes. A mix of props and costumes are available in the auctions, including the famous "hot dog finger" gloves worn by Yeoh's character Evelyn. Many of the other props and costumes, including a rock with googly eyes and the fanny pack worn by Quan's character Waymond, are selling for a few hundred or thousand dollars. A24 has also auctioned items for charity from some of its past films including "Uncut Gems" and "Midsommar," as well as other general Hollywood memorabilia.

☆ You can own 'Racacoonie': A24 is auctioning off 'Everything Everywhere All at Once' props and memorabilia
▼ + stars: | 2023-02-23 | by ( Nicolas Vega | ) www.cnbc.com time to read: 1 min

Some of the biggest props from "Everything Everywhere All at Once" will soon be going once, going twice, sold. A24 is auctioning off memorabilia from one of the year's top Oscar-nominated films over the next week and a half, with proceeds going to a trio of charities selected by the film's directors, Daniel Kwan and Daniel Scheinert. Among the items available for auction are over a dozen costumes worn in the film, as well as props including the now-iconic "hot dog hands," "Raccacoonie" and the fanny pack worn by best supporting actor nominee Ke Huy Quan's Waymond.

Rooted in the Middle Ages, the Binche carnival, a UNESCO World Heritage event, is one of Europe's oldest surviving street carnivals and the biggest in Belgium. The costumes include ostrich-feather hats, wooden clogs, bells and wax masks, elements which the Kersten family have been designing and making for five generations. "This year, we are celebrating the 120th anniversary of the start of the 'Gilles de Binche' costumes production", said 57-year-old Fanny Kersten, who has been making costumes with her father for 33 years. The Binche carnival's cancellation in 2021 and 2022 due to the COVID-19 pandemic was a "black hole" for the business, Kersten said, adding "we couldn't even imagine a future for the carnival." It was the first time the carnival was cancelled since World War Two, significantly reducing costume makers' income from renting out their pieces.

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