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A weak economy, Covid disruptions and supply chain challenges hammered the company's sales while increased investment in new technologies was an additional drag.
SMIC got hit with US sanctions three days after he joined the company, and the Chinese government did not trust him due to his Taiwanese-US citizenship, Chiang said.
China's biggest chipmaker reported a big jump in second-quarter revenue and $514m in profit on Friday, but warned that the sector faces "panic and uncertainty"
Samsung vice-chairman Jay Y Lee and another top businessman won pardons on Friday from President Yoon Suk-yeol, who wants them to help rev up the South Korean economy.
Companies in India use the UAE dirham, the HK dollar, yuan or euro when buying Russian coal, in a bid to avoid the dollar and US sanctions, according to customs data and industry sources
The Taiwanese electronics maker forecast flat revenue growth for the quarter ending in September amid concerns over the impact of inflation and a potential recession on gadget demand.
Cuban dismissed the metaverse, saying ''right now it's more talk than anything,'' Business Insider reported.
Covid lockdowns in China and soft demand hit the computer giant, which reported flat revenue for the June quarter – its worst result in nine quarters.
US Commerce Department says the Chinese wire and cable maker helped telco giant ZTE hide business with Iran
Ethereum's move to a faster, more efficient form of mining may be behind crypto's rebound, JP Morgan has said, following positive results from testnets in recent months.
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AF Fintech Insights
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Southeast AsiaCan Singapore Oust Hong Kong To Be Asia’s Fintech Leader? -
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Fintech: The Big Picture
With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors
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PaymentsCan China Take Place of SWIFT System? Analysts Say ‘No’There is no global payment system that is strong enough to act as an alternative to SWIFT and enable Russia to evade sanctions
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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Market InsightsHere’s How China Can Win the Tech War With USAThe Chinese government is doubling down on incentives for innovation, which it believes to be the cornerstone of its future growth and international position.
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Fintech InsightsAsia Becomes the Epicentre of Global NFTsAsia is the frontrunner in the NFTs craze with Central and Southeast Asia accounting for 35% of the $22 billion in global trade
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