Siemens Energy swings to profit on order surge, sale of Indian stake
Siemens Energy swung to profit in its first fiscal quarter on the back of a surge in orders and a one-off gain from selling a stake in its Indian affiliate.
Clocktower’s chief strategist says Chinese stocks will likely rally 10% to 15% from here
Chinese stocks will likely climb by at least 10% as authorities signal concerted support efforts, said Marko Papic, chief strategist at Clocktower Group.
CNBC Daily Open: Tech layoffs continue to hit
There appears to be no letup in Silicon Valley’s march to downsize, or rather to “right-size.”
China’s Bytedance says Zhang Nan resigns as Douyin Group’s CEO
TikTok owner Bytedance said on Wednesday that Zhang Nan has resigned as the CEO of Douyin Group, the popular short video platform’s sister app in China.
Sri Lanka targets debt restructuring framework in first 6 months of 2024, says president
Sri Lanka expects to implement a debt restructuring framework within the first six months of 2024, the country’s president said on Wednesday.
DBS slashes CEO’s variable pay by 30% after multiple digital disruptions
DBS Group cut the variable compensation for its senior management to “hold them accountable” for a number of digital disruptions that year.
Wheely, Uber’s luxury competitor, launches in Dubai to take on the UAE’s dominant player
Wheely, a luxury-focused competitor to Uber, is launching in Dubai as it looks to rev up international expansion efforts that were quashed by Covid in 2020.
China to help electric vehicle industry respond to foreign trade restrictions
China’s commerce ministry urges the new energy vehicle industry to proactively address foreign trade restrictions and collaborate with international companies.
Google says Singapore has ‘very high’ potential to be a global AI hub
“In order for AI to really deliver on its potential, you need really good public and private partnerships,” Caroline Yap of Google Cloud told CNBC.
China expresses concerns to U.S. over tariffs, sanctions in Beijing talks
Chinese financial officials voiced concerns to U.S. Treasury visitors about tariffs, investment restrictions, and sanctions on Chinese firms, said the ministry.
