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☆ Indian shares set to rise after a rout set off by Adani stocks
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

Besides the Fed's policy meeting, investors await rate decisions from other global central banks such as the European Central Bank and the Bank of England, later this week. STOCKS TO WATCH** Bajaj Finance (BJFN.NS): Co posts bigger-than-expected rise in consolidated net profit in third quarter, aided by a fall in provisions for bad loans. read more** Vedanta (VDAN.NS): Co reports slide in consolidated net profit in Q3, dragged by soft metal prices. read more** Tata Elxsi : Co reports arise in consolidated net profit in third quarter. ($1 = 81.5100 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

[1/2] Zambia's Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., October 15, 2022. Zambia's Finance Minister Situmbeko Musokotwane told Reuters that China had sought clarification from the Zambian government and the IMF on their debt agreement, he said. At the end of 2021, Chinese creditors accounted for almost $6 billion of Zambia's external debt, which was then $17.27 billion. The Export-Import Bank of China is representing all Chinese creditors in their restructuring negotiations with Zambia, Musokotwane said. These include commercial banks, the Industrial & Commercial Bank of China (601398.SS), Jiangxi Bank (1916.HK) and China Minsheng Bank (600016.SS).

[1/5] Women from a fishing community attend a protest against the construction of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. A $900 million project to build India’s first container transhipment port has been stalled due to protests by the region’s fishing community who believe it will destroy their livelihood. The fishing community erected the shelter after years of failed efforts to get the Kerala government to intervene while watching the coast steadily erode. "This is a matter of providing jobs to the many localities here," said Mukkola G Prabhakaran, a Kerala state council member in Modi's Bharatiya Janata Party. Accusing the Kerala state police of being "mute spectators", the Adani conglomerate has also called for federal police to be brought in.

TAIPEI, Nov 22 (Reuters) - Major Apple Inc (AAPL.O) supplier and iPhone assembler Foxconn (2317.TW) said on Tuesday it had hired Chiang Shang-yi, a former top executive at Taiwanese chipmaker TSMC (2330.TW) and Chinese chipmaker SMIC, to lead its growing push in the chip business. Foxconn, the world's largest contract electronics maker, is best known for assembling iPhones and other Apple products, though in recent years it has been expanding into chips to diversify its business. Chiang previously worked as vice president of research and development at Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker. He was more recently the vice chairman of Semiconductor Manufacturing International Corp (0981.HK) (SMIC), the largest and most advanced chipmaker in China. Chiang resigned from his position at SMIC last November, roughly a year after joining the company for the second time.

☆ Foxconn electric vehicle alliance plans boxy three-seater
▼ + stars: | 2022-11-08 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

TAIPEI, Nov 8 (Reuters) - Foxconn-led (2317.TW) electric vehicle consortium MIH announced plans on Tuesday for its first car, a boxy single row three-seater which it hopes will be popular with one-child families in Asia. Betting on strong demand in Asian markets for smaller electric cars, MIH Consortium plans to build its first car, which it calls Project X, in 2023 and start mass production the following year, though no customers have been confirmed, the company said. "Build your own vehicle with Project X," Cheng said, referring to the car's modular design. MIH is eyeing not only Taiwan, but also India, Thailand, Indonesia and Japan as prospective markets for the three-seater. "The American market tends towards large cars," Cheng told reporters, adding that this model would suit a single-child family.

☆ Foxconn ramps up EV push with stake in U.S. truck maker Lordstown
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Carlos Garcia Rawlins/File PhotoNov 8 (Reuters) - Foxconn, the world's biggest contract electronics maker, has extended its drive into electric vehicle (EV) business with a deal to take a near-20% stake in loss-making U.S. electric truck maker Lordstown Motors Corp (RIDE.O) for up to $170 million. It said on Tuesday the latest deal would deepen Lordstown's ties with Foxconn's EV development platform MIH, or Mobility in Harmony. Lordstown Chief Executive Officer Edward Hightower, speaking via video at an MIH event in Taipei, said the truck maker and Foxconn were eyeing production for other original equipment manufacturers, or OEMs, as well. Foxconn shares traded up 0.5% on Tuesday. Lordstown CEO Hightower said the vehicle maker aims to deliver the first Endurance trucks to customers in the current quarter.

☆ INDIA STOCKS Indian shares set for muted opening; Fed meet in focus
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +3 min

** Adani Ports and Special Economic Zone APSE.NS, India's largest private operator of ports, reported a 69% surge in quarterly profit on Tuesday, driven by strong cargo volumes. ** Sun Pharmaceutical Industries Ltd (SUN.NS) on Tuesday reported a surprise 10.5% rise in second quarter profit led by a surge in sales of specialty drugs. ** IT services provider Tech Mahindra (TEML.NS)reported better-than-expected quarterly profit and revenue on Tuesday, helped by strong demand and the company also declared a special dividend. ** Kansai Nerolac Paints Ltd (KANE.NS)reported a weaker-than-expected rise in second quarter profit on Tuesday, hit by higher input costs and a demand squeeze due to unseasonal rains. ** Voltas Ltd (VOLT.NS)posted a loss for the second quarter on Tuesday, dented by higher expenses and a one-off expense related to a contract termination.

☆ INDIA STOCKS Indian shares seen opening higher to track Asia gains
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +3 min

BENGALURU, Oct 31 (Reuters) - Indian shares may open higher on Monday, after rising for two consecutive weeks, tracking gains in broader Asia and a fall in oil prices. India's NSE stock futures, listed on the Singapore exchange , were 0.92% higher as of 0242 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.8%. Stocks to watch:** Sugar stocks after India, the world's biggest sugar producer, extended restrictions for export by one year through October 2023, the government said in a notification late on Friday. ($1 = 82.2610 Indian rupees)Reporting by Rama Venkat in Bengaluru;Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ A Foxconn Tesla? Taiwan tech giant targets 5% of EV manufacturing by 2025
▼ + stars: | 2022-10-18 | by ( Sarah Wu | ) www.reuters.com time to read: +3 min

Foxconn Chairman Liu Young-way poses on stage with an electric vehicle, the Model C, during the company's annual Tech Day in Taipei, Taiwan, October 18, 2022. Register now for FREE unlimited access to Reuters.com Register"I hope one day we can do Tesla cars for Tesla." Foxconn is leveraging its "48-year-old roots in ICT manufacturing" to halve EV design times and slash development costs by a third, Liu said. "Despite the challenges of conflict in Europe and COVID globally, Foxconn has maintained our EV strategy," Liu said. "Our heartfelt hope is that Taiwan can seize this once-in-a-hundred years, rare EV business opportunity," Liu said.

☆ Taiwan's Foxconn wants customers to sell 'a lot' of EVs
▼ + stars: | 2022-10-18 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

The ambition lines up with Taiwan-based Foxconn's (2317.TW) plans to ramp up EV business to help diversify away from its role of assembling consumer gadgets like iPhones for Apple Inc (AAPL.O) and other tech firms. Register now for FREE unlimited access to Reuters.com Register"Foxconn is not in the business of selling its own EV brand. But, yes, we want our customers to sell a lot of EVs," Liu said in pre-recorded remarks. "Our heartfelt hope is that Taiwan can seize this once-in-a-hundred years, rare EV business opportunity." "Despite the challenges of conflict in Europe and COVID globally, Foxconn has maintained our EV strategy," Liu said.

☆ India to offer more incentives for local chip, display manufacturing
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. The announcement comes as Prime Minister Narendra Modi's government seeks to attract more big-ticket investments under a $10 billion incentive plan for chip and display production, aiming to make India a key player in the global supply chain. Register now for FREE unlimited access to Reuters.com RegisterThe government had previously agreed to cover between 30% and 50% of the cost of setting up new display and chip plants. It said on Wednesday that it will also cover 50% of the capital expenditure required to set up semiconductor packaging facilities. Last week oil-to-metals conglomerate Vedanta and Taiwan's Foxconn (2317.TW) signed a pact with India's Gujarat to invest $19.5 billion in the western state to set up semiconductor and display production plants.

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