China’s tech young blood look to AI, crypto in post-crackdown era
Beijing is seeking to assure tech sector crackdown has passed as questions remain about direction of regulatory policy.
Economy
Tech war brewing as China hits back at U.S. restrictions on advanced computer chips
China is throwing billions of dollars at trying to accelerate chip development and reduce the need for foreign technology as the U.S. and other countries restrict access.
Asia set for strong growth after China’s opening, ADB says
Manila-based development bank estimates region will grow by 4.8 percent in 2023 and 2024, up from 4.2 percent last year.
Balancing act: Why central banks are cautious after bank crisis
Central banks are seen treading carefully following the sudden collapses of Silicon Valley Bank and Credit Suisse.
Australia to ban TikTok on government devices, following US, UK
Canberra’s announcement is the latest move to restrict the popular video-sharing app over alleged security risks.
Iran to form joint chamber of commerce with Saudi Arabia
A member of the presiding board of the Iranian chamber of commerce says Iran and Saudi Arabia will soon launch a joint chamber of commerce.
Oil prices surge after OPEC’s surprise output cuts
Price jump comes after news oil producers will slash output by about 1.16 million barrels per day.
Tesla sales rise post price cut but fall short of expectations
The first quarter sales of 422,875 were a record for the company but fell short of analyst estimates of 432,000.
Asia’s prices are rising. In the Philippines, they’re soaring
Southeast Asia’s fourth-largest economy sees inflation hit 8.6 percent, far above Thailand, Indonesia and Vietnam.
Saudi Arabia, other OPEC+ nations will further slash oil production
Saudi Arabia and other OPEC+ oil producers on Sunday announced further cuts in their production amounting to around 1.16 million barrels per day in a surprise move.