AirAsia, the well-known budget airline, is making a bold move by listing its brand management unit on the Nasdaq. This decision comes after finalizing a Special Purpose Acquisition Company (SPAC) merger. The company is aiming to tap into the U.S. market’s potential for franchise and licensing opportunities, despite being relatively unknown to the American audience.
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The stock market saw some activity on Tuesday, with the S&P 500 and the Nasdaq Composite closing with modest gains. The S&P 500 edged up by 0.17% to 5,078.18, while the Nasdaq rose by 0.37% to end at 16,035.30. In contrast, the Dow Jones Industrial Average fell by 96.82 points, or 0.25%, to close at
The Biden administration is setting its sights on transforming the United States into a significant player in the production of cutting-edge semiconductor chips by the year 2030. Commerce Secretary Gina Raimondo emphasized that this initiative is crucial not only for increasing national security but also for generating more job opportunities. According to Raimondo, the goal
Artificial intelligence (AI) has been making waves in the smartphone industry, with major players looking to leverage AI technology to drive sales. The buzz around AI phones has been fueled by the launch of OpenAI’s ChatGPT in 2022, sparking interest in generative AI models capable of producing text, images, and more. Smartphone manufacturers are gearing
Nvidia experienced a remarkable 16% surge after releasing their robust earnings report and guidance, propelling the stock’s year-to-date run to an impressive 59%. This surge also briefly pushed the company’s market cap above $2 trillion. While investors continue to feast on artificial intelligence stocks, some analysts are questioning whether the stock’s valuation is justified given
In a remarkable turn of events, Grab, the Southeast Asian ride-hailing giant, announced its first-ever profitable quarter, reporting a profit of $11 million in its fourth-quarter earnings report. This impressive feat comes on the heels of a $391 million loss recorded during the same period a year ago. The company attributed this remarkable turnaround to
The Nikkei 225, Japan’s primary stock index, hit a record high on Thursday, driven by the strong performance of banking, electronics, and consumer stocks. This surge in Japanese equities is a result of both robust earnings and investor-friendly measures that have contributed to a blistering rally throughout the year. The index jumped nearly 2% to
Nvidia recently reported its fourth fiscal quarter earnings, surprising Wall Street analysts with earnings and sales that exceeded expectations. The company’s earnings per share came in at $5.16, adjusted, compared to the $4.64 that was expected. Additionally, the revenue was reported at $22.10 billion, surpassing the expected $20.62 billion. This strong performance led to Nvidia’s
China’s recent decision to cut the benchmark five-year loan prime rate marks a significant move by the country’s lenders to stimulate the sluggish property market. While the one-year loan prime rate remained unchanged at 3.45%, the five-year rate, which serves as the benchmark for most mortgages, was reduced by 25 basis points to 3.95%. This
The U.S. Federal Reserve’s decision to potentially cut interest rates later this year is expected to have a significant impact on global currencies, especially in Asia. While a rate cut may not bode well for the dollar, it could benefit some Asian currencies due to higher interest rates boosting a country’s currency value. This increase