Harvard dropouts raise $120 million to take on Nvidia's AI chips
Nvidia has been the hottest story on Wall Street of late, increasing eightfold in value since the end of 2022 and soaring past $3 trillion in market cap this month.
Development asian news
SoftBank-backed Ola Electric set to become India's first EV listing
BENGALURU -- Ola Electric is set to become the first electric vehicle manufacturer to list its shares in India after it gained regulatory approval for an initial public offering, but analysts said the company will need to show investors it can turn a profit amid mounting competition.
Malaysia hopes BAIC tie-up can accelerate EV parts production
KUALA LUMPUR -- Malaysia is banking on a partnership with Chinese state-backed automaker BAIC Motor to accelerate local production of electric vehicle components, as the Southeast Asian nation aims to ride the EV boom -- without an EV brand of its own.
China's Li says EVs and batteries meet domestic demand, enrich global supply
DALIAN, China (Reuters) -- China's Premier Li Qiang used his address at a World Economic Forum meeting in Dalian to hit back at accusations from the U.S. and EU that Chinese firms benefit from unfair subsidies and are poised to flood their markets with cheap green technologies.
Cash-strapped Sri Lanka to sign debt deals with China, other lenders to meet IMF bailout
A treasury delegation is on its way to France to sign agreements with creditors on Wednesday, government spokesman Bandula Gunawardana said.
Novo Nordisk's Wegovy weight loss drug approved in China
Novo Nordisk said Tuesday that its Wegovy weight loss treatment has been approved in China for long-term weight management, opening up the blockbuster drug for sale in the world's second largest economy.
Deadly Fire Exposes Harsh Conditions Migrant Workers Face in South Korea
They were descendants of Koreans who moved to Northeast China, fleeing Japan’s brutal colonial rule in the early 20th century. In a twist of history, many like them have come to South Korea in recent decades, looking for better-paying jobs in their forebears’ homeland, now one of the world’s richest countries.
How to read China’s economic report card for the first 5 months of 2024
If we exclude real estate development investment, national fixed asset investment grew by 8.6 per cent in the first five months, exceeding gross domestic product (GDP) growth. This indicates that, excluding real estate, fixed asset investment has already recovered to pre-pandemic levels.