China’s consumer rates hike as factory inflation slumps at 17-month decline
Although slower domestic building impacted on raw material needs, China’s factory-gate inflation dipped to a 17-month trough in July, bucking global pricing pressures. However, consumer price increases touched a two-year peak as pork supplies constricted. The National Bureau of Statistics (NBS) reported on Wednesday that the producer pricing index (PPI) increased 4.2% year over year […]
Biden signs legislation to improve U.S. chips, to rival with China
Tuesday saw the historic signing by President Joe Biden of a measure providing $52.7 billion in subsidies for American semiconductor research and production as well as stepping up initiatives to make the U.S. more comparable with China’s scientific and technology initiatives. The future will be created in America, according to Biden, who described the initiative as […]
After the COVID blow, climate change pushes Lyme disease in France’s Valneva’s attention
Drugmaker Valneva (VLS.PA) is placing a large wager on a vaccine as it looks past dismal sales of its COVID shot as increased cases of tick-borne and deadly Lyme disease are being caused by climate change. Although Valneva received regulatory approval from the European Union and the British government, both organisations terminated contracts totalling greater than […]
Qatar may welcome top player IT powerhouses to operate locally
Top information technology (IT) corporations have been drawn to Qatar by its burgeoning startup ecosystem because they see it as a key strategic sector for their activities in the years to come. The Doha-based CWallet, a multi-featured digital wallet with features for online and QR payments, remittances, and e-ticket storage, revealed last month that it […]
As inflation takes a pinch, the U.S. economy moderately recovered in the second quarter
As businesses increased exports and kept up a robust pace of equipment expenditure, the U.S. economy allegedly had a modest bounce in the second quarter. This might allay concerns in the financial markets that the economy had already entered a recession. However, the economy was losing speed due to high inflation, which forced the Federal […]
Henderson gets a complex role in resolving Hong Kong’s housing crisis
The top player among Hong Kong’s four major developers, Henderson Land Development Co (0012.HK), intends to give the government extra land so that it can construct interim housing and is eager to hasten the development of a region near the Chinese border. The vow by Hong Kong to establish the “Northern Metropolis” is an inevitable […]
Boeing and Airbus obtain deals for Farnborough
At this week’s Farnborough Airshow, Boeing has been releasing purchase announcements at a rapid clip, giving its ailing 737 MAX new life, although competitor Airbus on Wednesday decided to add to its A320neo order book. The MAX has more than 100 solid orders from customers, but Boeing still has a long way to go before […]
Lockheed and Pentagon agree to construct 375 F-35 combat jets
The two parties announced their agreement on Monday, amid expectations that the cost of the most popular version of the aircraft would rise due to inflation and slower production. The U.S. Department of Defense and Lockheed Martin Corp. (LMT.N) agreed to build about 375 F-35 fighter jets over three years. As for the importance of […]
Tight oil supplies to be coddled as dollar sits back to catch breath
Oil rates reverse losses on July 18, fuelled by a waning dollar and supply concerns that are prioritised more than worries of a recession and the probability of raging pandemic-induced lockdowns in China that aid in the cause of fuel demand. For September, Brent crude futures had a likelihood hike of 69 cents (0.7%) to […]
Foxconn’s unauthorized chip investment faces backlash; fine in tow
On Friday, it was unveiled that tech beast Foxconn had invested in a Chinese chip conglomerate out of their own accord and without regulatory approval from the authorities. Taiwanese government might set similar powerhouses as an example by fining them up to T$25 million ($835,600). Being the world’s most in-demand electronic product manufacturer, Foxconn being […]