By Sarah Wu and Yimou Lee TAIPEI (Reuters) -Driven by a surge in demand for artificial intelligence, Taiwanese chip maker TSMC plans to invest nearly T$90 billion ($2.87 billion) in an advanced packaging facility in northern Taiwan, the company said on Tuesday. “To meet market needs, TSMC is planning to establish an advanced packaging fab…
MANILA (Reuters) – The Philippine central bank is prepared to resume tightening monetary policy given that inflation remains a challenge, central bank officials said on Tuesday. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila said policymakers were determined to bring inflation, which slowed to 5.4% in June, back to the central bank’s 2%-4% target…
By Andrew Osborn MOSCOW (Reuters) -Russia spoke of taking harsh retaliatory measures against Ukraine after two drones damaged buildings in Moscow early on Monday, including one close to the Defence Ministry’s headquarters, in what it called a brazen act of terror. Nobody was hurt in the attack, of which a senior Ukrainian official said there…
By Gustavo Palencia TEGUCIGALPA (Reuters) – The United States has resumed providing Honduras with radar information used for the surveillance and pursuit of aircraft suspected of transporting drugs, a Honduran military chief said on Monday. The United States suspended radar information cooperation with Honduras in 2014 after the Honduran Congress passed a law that authorized…
By Stephen Nellis and Tanya Jain (Reuters) -Cadence Design Systems Inc on Monday raised its full-year revenue forecast to slightly above Wall Street estimates, as a surge in artificial intelligence (AI) innovation fueled demand for custom semiconductor design. Demand for the software used to design chips has risen even amid a cyclical downturn for the…
By Nia Williams (Reuters) -Canada on Monday released a framework for eliminating inefficient fossil fuel subsidies, making it the first G20 country to deliver on a 2009 commitment to rationalise and phase out government support for the sector. Climate policy analysts said the framework was an important step forward, but fell short by continuing to…
By Nate Raymond BOSTON (Reuters) – A former employee of a federal prison in Massachusetts has agreed to plead guilty to secretly accepting thousands of dollars from Raj Rajaratnam while the Galleon Group hedge fund founder was serving time for insider trading, according to court records and a person familiar with the matter. Federal prosecutors…
By Jihoon Lee SEOUL (Reuters) -South Korea’s economy sped up faster than expected in the second quarter, flattered by headline improvements in trade although weaker consumer and business spending add to the case for the central bank to loosen its restrictive monetary policy. Gross domestic product (GDP) grew by a seasonally adjusted 0.6% in April-June…
By Pete Schroeder and Niket Nishant (Reuters) -The U.S. Federal Deposit Insurance Corporation (FDIC) on Monday told banks to fix financial statements that “incorrectly” reduced uninsured deposits, restatements that preceded a proposed special fee tied to the size of those deposits. The warning and revisions came as banks have complained about a fee the FDIC…
SEOUL (Reuters) – North Korea fired two ballistic missiles into the sea off its east coast late on Monday, South Korea’s military said, hours after a U.S. nuclear-powered submarine arrived in a naval base in the South. Japan’s defence ministry also reported the launch of what it said were two ballistic missiles by North Korea,…
