Category Archives: BUSINESS-FINANCE

The US International Trade Commission (ITC) has ruled that Innoscience Technology , a Chinese maker of gallium-nitride-on-silicon (GaN-on-Si) power chips, infringed upon a patent of American rival Efficient Power Conversion Corp (EPC), clouding the Suzhou -based firm’s prospects of going public in Hong Kong . Innoscience was found to have infringed on one of the challenged patents held by EPC, according to the ITC’s final determination released on Thursday. The agency issued a limited exclusion order prohibiting importation of certain Innoscience chips that violated EPC’s patent. California-based EPC on Thursday said the ITC decision was “the first successfully litigated US patent dispute involving GaN-based wide bandgap semiconductors”. The firm said it expects to open its intellectual property in GaN technologies to potential partners through licensing agreements. Innoscience, however, said it

Foreign businesses from the United States, South Korea and Germany pledged commitment to China’s market and supply chains during big import fair in Shanghai, despite the potential of a new trade war between the world’s top two economies after Donald Trump’s victory in the US presidential election. At a media event tied to the China International Import Expo on Thursday, several companies showed how they are investing in artificial intelligence (AI) and various digital technologies across their mainland supply chains, while stressing the market’s importance in spite of an economic slowdown and geopolitical risks. 3M, the US conglomerate that produces products ranging from industrial to household items, said it is deploying intelligent solutions such as robot arms in its automotive product lines in China to track product parameters and give

French generative AI startup LightOn launched an initial public offering (IPO) on the Euronext Growth market in Paris on Friday, with a listing expected later in November. WHY IT’S IMPORTANT LightOn, which provides large language model (LLM) software to businesses and the French government, would become the first GenAI startup to be listed in Europe. European peers like France’s Mistral or Germany’s DeepL have so far preferred to raise funding by remaining private. France is promoting itself as Europe’s main hub for artificial intelligence, in a bid to close a long-standing innovation gap with the U.S. and Britain. KEY QUOTES “This planned IPO offers investors a unique opportunity to participate directly in the growth of a French technology champion that is already successfully deploying its AI solutions with major groups

The United States is bingeing on discussions over what went wrong for the Democrats in this week’s presidential election and one theme has, correctly, dominated: most voters were angry about economic issues, which outweighed any concerns they might have had about US President-elect Donald Trump ’s criminality. The efforts of US Vice-President Kamala Harris ’ campaign to point out how strong the US economy is after four years of Joe Biden ’s presidency – and how it is the envy of a world in which economies like the European Union and China are just treading water, if not slowing – backfired. The US Federal Reserve might have tamed inflation but prices remain much higher than they were when Trump was last in office, making it more difficult for Americans to

Zhao Changpeng , the billionaire founder of the Binance cryptocurrency exchange, arrived at the Coca-Cola Arena in Dubai to rapturous applause and a long line of fans eager for a selfie with him. Deep in the pulsating crowd, a man yelled “he is a martyr” while in another part of the room a promoter of a start-up boldly declared: “the king is back!” Back, that is, from a US prison halfway around the world. Yet the crypto billionaire known as CZ is not back at the helm of the largest crypto exchange, since his plea deal with the US Department of Justice (DOJ) forbids him from leading the company. And he says he is OK with that. Following his appearance in Dubai, Zhao spoke with Bloomberg a day before Donald

The African Export-Import Bank (Afreximbank) is exploring ways to promote inter-African trade through one common continental currency. Speaking at the bank’s Trade Finance Seminar 2024 in Windhoek this week, Afreximbank research economist and senior manager Anthony Coleman said the bank is currently conducting a study to understand how a single currency could streamline trade across Africa, drawing inspiration from the European model. “We are looking at the exchange rate mechanism and exploring the potential of introducing a single currency to foster inter-African trade,” said Coleman. “This study is already underway, and we hope its findings will provide clear recommendations for advancing the idea in a practical, effective way.” Coleman, however, said a shared currency comes with challenges, particularly in terms of aligning the economic policies of African countries. There is

Tourism and Wildlife CS Rebecca Miano (second left), Kisumu Deputy Governor Mathew Owili and Narok County Governor Patrick Ole Ntutu. [Washington Onyango,Standard] Kenya’s tourism sector is set for a significant boost following the unveiling of nine regional tourism circuits by the Ministry of Tourism and Wildlife. Launched as part of the broader Tembea Kenya initiative, the circuits aim to diversify Kenya’s tourism offerings and promote lesser-known attractions, targeting both domestic and international tourists. These circuits, covering all 47 counties, mark a renewed effort to reimagine the country’s tourism landscape and present Kenya as a destination that offers a wide array of experiences ranging from adventure and culture to eco-tourism and wellness. The launch event, held in Kisumu County, was graced by Cabinet Secretary for Tourism and Wildlife, Hon. Rebecca Miano

In a November 2024 report to the IMF, the state noted that the government-to-government oil import deal with Gulf countries did not meet its goals The initial six-month deal, which was extended to December 2024, saw Kenya lose much in terms of oil demand and re-export market Treasury revealed that in the first six months, the actual average monthly import volumes fell short of the monthly minimums agreed under the arrangement TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends. Kenya has told the International Monetary Fund (IMF) that it plans to exit the oil import agreement with three national oil exporters from the Gulf. President William Ruto and Energy CS Opiyo Wandayi

Demand for gold will continue to rise following Donald Trump’s victory in Tuesday’s US presidential election, which will increase trade tensions and uncertainties for the US dollar and US dollar-denominated assets, analysts said, predicting that gold prices will hit fresh highs despite a recent fall. According to GF Securities, so-called “Trump deals” since the start of October took many expectations into account, leading to a strong US dollar, rising gold prices, falling oil prices, falling copper prices, and volatile US stocks, and the market was likely to trade in the opposite direction in the short term. Shen Jianguang, chief economist at JD.com, said that in response to Trump’s election “virtual assets such as bitcoin and US bonds have risen sharply” and the price of gold would also climb in the

“Trump’s pro-crypto stance is expected not only to invigorate the US virtual-asset industry, but also to encourage Hong Kong to further relax its own virtual-asset policies in its quest to become a global Web3 hub,” said Livio Weng , chief executive of Hong Kong-based cryptocurrency trading platform HashKey Exchange . “This shift could also positively influence regulatory attitudes toward virtual assets in mainland China,” he added. That reflects the enthusiasm of many Mandarin-speaking crypto-focused users on Elon Musk ’s X , as they posted their congratulations to Trump on the social-media platform formerly known as Twitter, while also extolling a new all-time high reached by bitcoin on Wednesday, with some expressing good days ahead for the industry. Donald Trump gives a keynote speech on the third day of the Bitcoin

Featured Reuters.com Nov – 07 – 2024 , 10:04 Ghana’s cocoa production is expected to rebound in the 2024/25 crop season, buoyed by favourable weather conditions, according to local farmers, officials from regulatory body Cocobod, and buyers. However, challenges such as illegal gold mining, smuggling, and disease continue to pose risks. In June, the world’s second-largest cocoa producer saw its output fall below 55% of its average seasonal output, marking a more than two-decade low. Similar problems in neighbouring Ivory Coast, the world’s leading cocoa producer, have resulted in a four-year global cocoa market supply deficit, pushing the prices of chocolate’s key ingredient to record highs. Ghana now expects output to recover to 650,000 tons in the 2024/25 season, though an official of the International Cocoa Organization said they see

US shares hit record highs on Wall Street and the dollar posted its biggest gain in eight years as Donald Trump was re-elected to the White House in a historic win. Bitcoin also hit an all-time high, following Trump’s election promise to prioritise the volatile crypto currency. Investors were, however, betting that Trump’s plan to cut taxes and raise tariffs will push up inflation and reduce the pace of interest rate cuts. Higher rates for longer mean investors will get better returns on savings and investments they hold in dollars. Markets and currencies around the world shifted sharply on Wednesday following the US election news: The major US stock indexes soared, with banks performing particularly well The dollar was up by about 1.65% against a host of different currencies, including