Singapore said Tuesday the “double mutant” coronavirus variant first detected in India has been found among locally transmitted cases in the city state. The B.1.617 variant is widely blamed for India’s second wave of infections that has seen total cases surge above 20 million. The World Health Organization classified it as a variant of interest last week. As […] Read more
Chinese tech giant Huawei said Wednesday that its revenues dropped sharply in the first quarter as U.S. sanctions took a toll on its business. Huawei’s revenues fell 16.5% year-on-year to 152.2 billion Chinese yuan ($23.5 billion) in the three months ending March 31, according to unaudited financial results revealed by the company on Wednesday. It […] Read more
China — Tesla faces mounting pressure in China as state media and regulators criticize the electric car maker following a woman’s protest at a major auto show this week. Tesla could be facing one of its worst public relations crises in China, a market investors see as critical for its growth. On Monday, a woman who claimed […] Read more
Analysts at Goldman Sachs have picked a number of fast-growing Chinese brands that it says younger consumers are ready to pay a premium for. The bank put together a list of its “hottest” stocks to watch and recommended buying both established and upcoming players. After the Covid-19 outbreak, people in China are upgrading to healthier […] Read more
BEIJING — Chinese-run stock trading apps are riding a surge of global interest in day trading, as competition grows for Robinhood. Futu and Tiger Brokers, both listed in the U.S., launched a few years ago as apps allowing Chinese users to trade U.S. or Hong Kong stocks. Now both are forecasting hundreds of thousands of new users […] Read more
Huawei said Monday that U.S. sanctions on the company are partly to blame for the ongoing global chip shortage that’s the subject of a White House conference on Monday. Eric Xu, Huawei’s rotating chairman, said the sanctions imposed over the last two years on the Chinese tech company are, “hurting the global semiconductor industry” because they have […] Read more
The Commerce Department on Thursday added seven Chinese supercomputing entities to a U.S. economic blacklist citing national security concerns. The department added Tianjin Phytium Information Technology, Shanghai High-Performance Integrated Circuit Design Center, Sunway Microelectronics, the National Supercomputing Center Jinan, the National Supercomputing Center Shenzhen, the National Supercomputing Center Wuxi and the National Supercomputing... Read more
Singapore will next month accept visitors who use a mobile travel pass containing digital certificates for Covid-19 tests and vaccines, its aviation regulator said on Monday, becoming one of the first countries to adopt the initiative. Singapore will accept the International Air Transport Association (IATA) mobile travel pass for pre-departure checks, where travelers can get […] Read more
Chinese electric car company BYD is feeling the hit of rising battery material costs. Backed by U.S. billionaire Warren Buffett, the automaker announced late Monday that net profits attributable to shareholders in the first quarter will be between 200 million yuan ($30.4 million) and 300 million yuan. “Affected by the price fluctuation of upstream raw materials, the profit of […] Read more
GUANGZHOU, China — Xiaomi launched a slew of new smartphones on Monday, with one high-end device aimed at international markets as it looks to push into the premium segment and fill the void left by rival Huawei’s troubles. The devices are: Mi 11 Lite and Mi 11 Lite 5G Mi 11 Pro Mi 11 Ultra […] Read more
