Tag: Business
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Airwallex hits $11 billion valuation with $320 million raise as fintech pushes into finance run by AI agents
Airwallex raised $320 million to build the financial infrastructure powering a world where AI agents handle business payments and finance.
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Samsung readies $648 billion bet, report says, as AI boom reshapes South Korea
SEOUL, June 26 : Samsung Group will unveil a sweeping decade-long investment plan on Monday, pledging 1,000 trillion won ($648 billion) to anchor South Korea’s next growth cycle, including a possible 300 trillion won push to build chip factories in the country’s southwest, a media report said.The investment,
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Honda CEO apologises for company’s loss, wins investor backing at annual meeting
TOKYO, June 26 : Honda Motor Chief Executive Toshihiro Mibe secured support for his reappointment to the Japanese automaker’s board at its annual meeting on Friday after apologising to shareholders for the company’s poor financial performance.Honda is seeking to recover from costly strategic missteps after po
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Always-on won: Korean dealers fret about risks in landmark shift to 24-hour trading
SEOUL, June 26 : Over an 18-year career trading currencies in Seoul, Namkoong Taehun was on the front lines of the collapse of Lehman Brothers, the post-Brexit plunge in the pound, and the won’s dramatic tailspin after South Korea’s 2024 martial law decree.Now his job will be stretched around the clock as Sou
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Asian shares fall as Apple’s price hikes dents tech optimism
SYDNEY, June 26 : Asian shares eased from record highs on Friday as hefty price hikes from Apple showed the downside of the boom in chip demand, while only the threat of Japanese intervention kept the yen from hitting 40-year lows. Brent crude futures slipped 0.5 per cent to $74.89 a barrel, having bounced 2
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UN agency pauses Hormuz ship evacuation plan after first vessel attack under peace deal
The pause follows a container ship being struck near the coast of Oman on Thursday, with a U.S. official saying that Iran was responsible for the attack.
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Samsung Group to unveil $648 billion South Korea investments, including for chip plants, report says
SEOUL, June 26 : Samsung Group will announce on Monday plans to invest 1,000 trillion won ($647.53 billion) in South Korea over 10 years, including a potential 300 trillion won to build chip factories in the southwest of the country, a media report said on Friday.The investment, which would include AI data c
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Core inflation in Tokyo accelerates as energy-driven price pressures begin to broaden
TOKYO, June 26 : Annual core inflation in Japan’s capital accelerated in June, data showed on Friday, a sign of broadening price pressures from the Middle East conflict that keeps the central bank on track to consider further raise interest rates.”The impact of the Middle East situation is spreading primarily
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South Korea to lower fuel price caps, finance minister says
SEOUL, June 26 : South Korea will lower its cap on fuel prices as part of efforts to curb inflation pressure, the finance minister said on Friday. “We kept the sixth fuel cap price unchanged this week due to uncertainty of the Middle East situation, but the seventh cap will be lower than the current…
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Oil edges lower amid resumption of strait shipments even as vessel hit near Oman
BEIJING, June 26 : Oil prices fell on Friday morning and are heading for steep weekly losses amid easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.Brent crude futures fell 19 cents, or 0.25 per cent, to $75.07 a barrel…
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