India’s billion-dollar bait to global chip makers, who might take a pass

India’s billion-dollar bait to global chip makers, who might take a pass

(ATF) Stung by an acute shortage of semiconductors worldwide in the face of incessant demand for consumer electronics, India is angling toward self-sufficiency by enticing the who’s who of global high-tech to set up chip factories. Yet a lot of those hall-of-famers might end up staying offshore. The country has …

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Hong Kong does volte-face from transparency to privacy

Hong Kong does volte-face from transparency to privacy

(ATF) Amid fierce protests and oppositions from journalist groups and investors, Hong Kong’s city officials are trying hard to defend the move to curb public access to company searches imposed by the government early this month. The latest planned change comes as Beijing cracks down on dissent in Hong Kong. …

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Indian small traders fighting back against Amazon, Walmart-Flipkart

Indian small traders fight back Amazon, Walmart-Flipkart

(ATF) Thousands of angry Indian traders held an online summit on Thursday with trade associations and politicians to protest against Amazon and Walmart-owned Flipkart, for employing unfair trade practices and distorting the local retail market. The summit highlighted the various challenges they face and the grievances they hold against multinational …

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Citibank to dump Asia consumer business as earnings soar 

Citibank to dump Asia consumer business as earnings soar

(ATF) US financial giant Citigroup announced on Thursday it would exit consumer markets in China, India and 11 other mostly Asian markets as it reported a sharp rise in global earnings. Jane Fraser, the lender's chief executive, said it would abandon markets where "we don't have the scale we need …

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Japan manufacturers' optimism hits two-year high on strong demand

Japan manufacturers' optimism hits two-year high on strong demand

(ATF) Japanese manufacturers are showing optimism not seen in more than two years, as strong demand for electronics market and favourable exchange rates boosted exporters' hopes, a poll showed on Friday. Manufacturers in the service sector were also slightly less pessimistic than in the previous month, according to the Reuters …

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Mining gets green light as Duterte tries to kickstart economy

Mining gets green light as Duterte tries to kickstart economy

(ATF) Philippine President Rodrigo Duterte on Thursday lifted a nine-year ban on new mining projects, as part of a raft of measures designed to boost revenue and spur investment in the Southeast Asian country's coronavirus-devastated economy. The mining industry has stagnated since 2012 when Duterte's predecessor, Benigno Aquino, imposed a …

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Second Covid wave dents India’s rebound but analysts hopeful

Second Covid wave dents India’s rebound but analysts hopeful

(ATF) The dramatic resurgence of Covid infections in India and reimposition of curbs to rein in the surge has spooked businesses and dented the jittery consumer sentiment. Experts say it threatens the sharp economic rebound enjoyed over the past six months. But they expect the recovery will resume later in …

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