World

According to a source, Japanese competition officials raid Amazon Japan.
26Nov By TheGreenZoneNo Comments
Asia, China, Market, World

According to a source, Japanese competition officials raid Amazon Japan.

Japanese officials conducted an on-site inspection of Amazon Japan on Tuesday amid suspicion the group had violated anti-monopoly laws. Authorities from Japan’s Fair Trade Commission conducted the raid, according to Reuters, which cited a government source. The unit of Amazon.com Inc is suspected of inappropriately urging sellers to lower their prices on its e-commerce site in exchange for giving their products advantageous placement on the site, the source said. “There is a suspicion that Amazon Japan is forcing sellers to cut prices in an irrational way,” said the source, who declined to be named as an official announcement has yet to be issued. Amazon Japan did not immediately respond to an email query about the raid. Amazon is likely to face an EU investi...
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Campaigners call the $1.3 trillion climate funding agreement that Cop29 agreed to a “betrayal.”
23Nov By TheGreenZoneNo Comments
Asia, China, Market, Singapore, USA, World

Campaigners call the $1.3 trillion climate funding agreement that Cop29 agreed to a “betrayal.”

Rich and poor countries concluded a trillion-dollar deal on the climate crisis in the early hours of Sunday morning, after marathon talks and days of bitter recriminations ended in what campaigners said was a “betrayal”. Under the target the developing world should receive at least $1.3tn (£1tn) a year in funds to help them shift to a low-carbon economy and cope with the impacts of extreme weather, by 2035. But only $300bn of that will come primarily in the form they are most in need of – grants and low-interest loans from the developed world. The rest will have to come from private investors and a range of potential new sources of money, such as possible levies on fossil fuels and frequent flyers, which have yet to be agreed. Mohamed Adow, director of the Pow...
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The US AI chip behemoth Nvidia surpasses sales projections.
22Nov By TheGreenZoneNo Comments
Market, USA, World

The US AI chip behemoth Nvidia surpasses sales projections.

Chipmaking giant Nvidia reported revenue of $35.08 billion in the third quarter, far outstripping economists’ expected $33.2 billion. Revenue is up 97% year-on-year for the period ending Oct. 27. Net income rose to $19.3 billion compared to $9.24 billion in the same period last year. Driving the surge is its AI business, which includes chips and data centers. Nvidia also projected $37.5 billion in sales for the current quarter, slightly above the expected $37.08 billion. The results mean the US chipmaker has now exceeded analysts’ expectations for the eighth quarter in a row, although they also mark a fourth consecutive slow-down in sales for the chipmaker overall, CNBC noted. The world’s largest company by market cap, Nvidia is seen as a bellwether of the direction of the...
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According to Stanford’s AI Center, the US has the best AI environment, followed by China.
22Nov By TheGreenZoneNo Comments
Asia, China, Market, USA, World

According to Stanford’s AI Center, the US has the best AI environment, followed by China.

The US has been called the Wild West when it comes to AI safety due to a lack of federal governance compared to other countries. But that hasn’t impaired its status as the top AI ecosystem in the world, according to a Stanford University ranking. Stanford’s Institute for Human-Centered Artificial Intelligence (HAI) has created a tool that measures the strength of AI ecosystems based on a country’s economy, infrastructure, education, and yes — governance. Those metrics led a panel of experts to designate the US as the world’s AI powerhouse by a landslide because of its high number of existing models, notable private investments, and research on responsible AI. China follows, with strengths in its number of patents granted, investment, and clear national strategy. “Since the...
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China Adds Nine More Countries to Its Visa-Free Entry List – AP
22Nov By TheGreenZoneNo Comments
Asia, China, Market, World

China Adds Nine More Countries to Its Visa-Free Entry List – AP

China plans to expand visa-free entry to people from nine more countries from the end of this month, according to a report by Associated Press, which said the moves is part of efforts to invigorate its sluggish tourism and business sectors. The new countries are Bulgaria, Romania, Malta, Croatia, Montenegro, North Macedonia, Estonia, Latvia and Japan. And visitors from these states will be able to stay for up to 30 days without a visa. That means some 38 countries will soon have ‘visa-free’ access, which is a big dup from just three before the country was hit by the Covid pandemic. Meanwhile, people participating in exchanges will also qualify for visa-free entry – a move that seeks to enhance relations through increased cultural and academic exchanges. In recent months, a signif...
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Stocks of Intuit and H&R Block are impacted by Elon Musk’s proposal to streamline tax filings.
21Nov By TheGreenZoneNo Comments
Market, USA, World

Stocks of Intuit and H&R Block are impacted by Elon Musk’s proposal to streamline tax filings.

Elon Musk’s early push to streamline the government is already hitting Intuit and H&R Block, whose shares dropped amid chatter of a free tax-filing app floated by Musk’s new Department of Government Efficiency. Intuit’s shares fell 5% while H&R Block’s stock dropped 8% Tuesday, marking its worst performance since 2020. “Crazy idea: let’s simplify the tax code,” Musk posted on X. If launched, the app would come on the heels of work from the Biden administration to make filings more accessible. Earlier this year, the IRS rolled out free software to residents of 12 states as part of a larger invite to onboard the entire nation by the 2025 tax season. The IRS largely leaves individuals to figure out how tax laws apply for themselves, unlike ...
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SMIC and Huawei of China “will ramp up production” of the newest AI chip.
21Nov By TheGreenZoneNo Comments
Asia, China, Market, USA, World

SMIC and Huawei of China “will ramp up production” of the newest AI chip.

SMIC, China’s largest contract chipmaker, will make the 910C on its N+2 process, it added. Huawei is aiming to ramp up production even as the yield – the proportion of chips that come off the manufacturing line fully functional – of its advanced AI semiconductors remains far below industry standards. Advanced chips need yields of more than 70% to be commercially viable — lower yields mean greater costs and higher defect rates. But SMIC is currently producing the 910C on older, stockpiled chipmaking equipment, which has limited the chip’s yield to around 20%, Reuters said, citing a source. Even Huawei’s current most advanced processor, the SMIC-made 910B, has a yield of only around 50%, forcing Huawei to slash production targets and delay filling orders for that chip, the ...
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Why AI is the new catalyst for profitable growth in Southeast Asia
21Nov By TheGreenZoneNo Comments
Asia, Market, USA, World

Why AI is the new catalyst for profitable growth in Southeast Asia

Southeast Asia's digital economy is a story of remarkable resilience and dynamism. Millions in the region join the digital landscape every year as consumers, entrepreneurs, developers and creators, driving both economic growth and societal transformation. The e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company captures this dynamism and reveals a regional digital economy that has achieved profitability. In just two years, profitability has grown 2.5x, from US$4 billion in 2022 to US$11 billion in 2024. This underscores the region's capacity to not only embrace innovation but to translate it into tangible economic gains, delivering a 10x increase in revenue since 2016. Combined with strategic investments and forward-thinking policies, the region's inher...
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In 2025, the US economy is expected to surpass forecasts.
20Nov By TheGreenZoneNo Comments
Asia, Market, USA, World

In 2025, the US economy is expected to surpass forecasts.

The world’s largest economy is forecast to outperform economist expectations again next year, according to Goldman Sachs Research. “The US economy is in a good place,” writes David Mericle, chief US economist in Goldman Sachs Research. “Recession fears have diminished, inflation is trending back toward 2%, and the labor market has rebalanced but remains strong.” Goldman Sachs Research predicts US GDP will grow 2.5% on a full-year basis. That compares with 1.9% for the consensus forecast of economists surveyed by Bloomberg. Three key policy changes following the Republican sweep in Washington are expected to affect the economy, Mericle writes in the team’s report, which is titled “2025 US Economic Outlook: New Policies, Similar Path.” Tariff increases on imports from...
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According to reports, ByteDance, a Chinese computer titan, increased its worth to $300 billion.
19Nov By TheGreenZoneNo Comments
China, Market, World

According to reports, ByteDance, a Chinese computer titan, increased its worth to $300 billion.

TikTok owner ByteDance now values itself at around $300 billion, among the highest valuations for a Chinese tech company. The company’s valuation came in a recent share buyback at about $180 a share, The Wall Street Journal reported, and indicates that it expects its business to grow even as its app TikTok faces a potential ban in the US. Both TikTok executives and experts in Washington believe President-elect Donald Trump could reverse the law, which goes into effect the day before he is inaugurated, and his election “significantly improves the picture for TikTok,” the National Security Agency general counsel told Bloomberg. ByteDance also owns various other businesses, including a Chinese version of TikTok called Douyin.
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