AirAsia, a well-known budget airline in Southeast Asia, is making significant moves to expand its brand globally by listing its brand management unit on the Nasdaq through a SPAC merger. This strategic decision comes as the company aims to capitalize on the appeal of franchise and licensing opportunities in the U.S. market. One of the
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On Tuesday, the S&P 500 and the Nasdaq Composite closed the session with modest gains as investors eagerly awaited the release of key inflation data later in the week. The S&P 500 saw a slight increase of 0.17%, closing at 5,078.18, while the Nasdaq added 0.37% to end at 16,035.30. Conversely, the Dow Jones Industrial
The Biden administration has set ambitious goals to establish the United States as a major manufacturer of state-of-the-art semiconductor chips by the year 2030. Commerce Secretary Gina Raimondo outlined the administration’s plan during a speech at the Center for Strategic and International Studies, emphasizing the importance of this initiative in terms of global competitiveness, national
The year 2022 saw the release of OpenAI’s ChatGPT, which generated immense interest in generative AI. This technology, fueled by vast amounts of data, has the ability to create text, images, and prompts from user videos. Following this development, artificial intelligence has permeated various industries and captured the public’s imagination. Smartphone manufacturers are now leveraging
Nvidia, a leading chipmaker in the artificial intelligence sector, experienced a significant surge of 16% after announcing strong earnings and guidance. This surge added to the stock’s impressive 59% year-to-date run, prompting some investors to question the sustainability of such growth. Despite concerns about the company’s elevated valuation, supporters of the stock remain optimistic about
In a surprising turn of events, Southeast Asian ride-hailing giant, Grab, recently announced its first profitable quarter, with a profit of $11 million. This marks a significant improvement from the $391 million loss recorded in the same period a year ago. The company attributed this boost in profitability to factors such as improved Group adjusted
Japan’s Nikkei 225 has recently hit a record high, reaching 39,029, surpassing the previous peak of 38,915.87 that was set back in 1989. This record-breaking rally has been fueled by the strong performance of banking, electronics, and consumer stocks, as well as robust earnings reports. Both the Nikkei and the broader Topix have outpaced other
Nvidia recently reported its fourth fiscal quarter earnings, exceeding Wall Street’s forecasts for both earnings and sales. The company reported earnings per share of $5.16, a significant increase from the expected $4.64. Moreover, Nvidia reported revenue of $22.10 billion, surpassing analysts’ expectations of $20.62 billion. The positive results led to a 10% increase in Nvidia’s
China’s central bank recently announced a cut in the benchmark five-year loan prime rate, marking the first decrease since June. This move is part of Beijing’s strategy to stimulate the country’s sluggish property market. While the one-year loan prime rate remained unchanged at 3.45%, the five-year rate, which affects most mortgages, was reduced by 25
The U.S. Federal Reserve is anticipated to reduce interest rates later this year, which could have implications for various Asian currencies. Generally, higher interest rates tend to strengthen a country’s currency by attracting foreign investment and increasing demand. Conversely, a weaker U.S. dollar often spells positive news for emerging markets, especially when the Fed decides