Author: Bloomberg

Key US lawmakers are urging the Biden administration to restrict Huawei Technologies suppliers from purchasing American chipmaking equipment, intensifying efforts to hinder the sanctioned Chinese telecom company from advancing in semiconductor manufacturing. In a letter to Commerce Secretary Gina Raimondo, the top Republican and Democrat on the House China Select Committee raised concerns about Chinese companies allegedly linked to Huawei’s covert network, including Pengxinxu and SwaySure Technology. They highlighted the importance of preventing Huawei’s access to US technology to protect national security and global chip makers. The US has already restricted sales of advanced chips and manufacturing tools to China,…

The International Monetary Fund has urged Pakistan to cease offering incentives for investment in industrial zones, potentially impacting the country’s efforts to attract Chinese industries. The IMF stated that tax breaks and subsidies will no longer be provided to new or existing special economic zones, aiming to create a fair investment environment. Prime Minister Shehbaz Sharif’s push to persuade Chinese companies to relocate industries to Pakistan, aligning with the Belt and Road Initiative, may face hurdles due to the IMF’s condition. Pakistan’s plans to establish nine special economic zones under the China-Pakistan Economic Corridor could be affected. Nathan Porter, IMF’s…

Thailand is gearing up to welcome a record number of foreign tourists, with a target of reaching 40 million arrivals next year. To achieve this goal, the government is collaborating with leading travel companies such as Trip.com Group Ltd. and Expedia Group Inc. to attract travelers from around the world. Prime Minister Paetongtarn Shinawatra’s administration aims to generate 3.4 trillion baht (US$101 billion) in tourism revenue in 2025. Meetings with industry executives, including those from Agoda, Grab Holdings Ltd., Marriott International Inc., and InterContinental Hotels Group Plc, have been held to discuss strategies to promote Thai culture and lesser-known tourist…

The Rise of Cybercrime Syndicates in Southeast Asia Cybercrime syndicates in Southeast Asia have generated as much as US$37 billion in illegal proceeds, according to a report by the United Nations Office on Drugs and Crime. Despite increased law enforcement efforts, these syndicates are expanding their operations in countries like Myanmar, Cambodia, and Laos, engaging in activities such as romance-investment schemes, crypto fraud, money laundering, and illegal gambling. The pandemic has further fueled the growth of illegal cyber activities in the region, prompting criminals to adopt new technologies such as AI, deepfakes, and cryptocurrency solutions for money laundering. This professionalization…

Malaysia is pushing ahead with oil and gas exploration in the South China Sea, despite constant pressure from Chinese vessels in the disputed waters, a recent report reveals. China’s coastguard ships have been consistently present in Malaysia’s claimed waters, but Malaysia has not only maintained its oil and gas operations but also expanded exploratory activities, according to the Washington-based Asia Maritime Transparency Initiative. The Chinese vessels have focused their presence near Luconia Shoals, where major Malaysian oil and gas projects are located. This comes after a leaked diplomatic letter showed China urging Malaysia to halt its offshore activities near Luconia…

The US Commerce Department has imposed preliminary duties on solar imports from Southeast Asia due to illegal government aid, following complaints from US panel makers about unfair competition. This move is seen as a win for American manufacturers who claim that cheap imports are undercutting their businesses and disrupting the domestic solar supply chain. The affected countries, mainly Thailand and Vietnam, provide a significant portion of US solar imports. Renewable energy developers will now face increased prices for solar equipment, with some retroactive fees dating back to July. This decision continues a trend of US manufacturers challenging overseas competitors, as…

Alphabet Inc.’s Google is set to invest US$1 billion in building data centres in Thailand, expanding its cloud and AI infrastructure in Southeast Asia. The tech giant will establish facilities in Bangkok and Chonburi to boost the country’s economy by US$4 billion and create 14,000 jobs annually over the next five years, as per a Deloitte study. The investment was announced by Google and Thailand’s newly appointed prime minister, Paetongtarn Shinawatra, highlighting the region’s efforts to attract foreign tech companies. This move aligns with the growing trend of global tech firms establishing a presence in Southeast Asia to tap into…

When an Iranian consulate building was destroyed in Syria in April, Supreme Leader Ayatollah Ali Khamenei vowed to punish Israel. However, the retaliation that followed was a significant yet expected assault, leading to no all-out war. Three months later, the military chief of Iran-backed Hezbollah and Hamas’ political head were killed within hours of each other. Despite fears of a wider regional conflict, the eruption of a direct war did not come to pass. Israel’s assassination of Hezbollah leader Hassan Nasrallah in Beirut dealt a major blow, but experts believe it is unlikely to trigger a direct war with Iran.…

OpenAI has proposed the construction of massive data centers to the Biden administration, emphasizing the need for advanced artificial intelligence models to compete with China. These data centers, each utilizing as much power as entire cities, would provide economic and national security benefits, according to a document shared with government officials. The meeting at the White House, attended by OpenAI CEO Sam Altman and other tech leaders, highlighted the potential for jobs creation, GDP growth, and maintaining US leadership in AI development through the establishment of 5 gigawatt data centers across various states. The company’s analysis, supported by outside experts,…

In response to the US taking steps to ban Chinese-made software in vehicles, Canada is now considering a similar move, according to Finance Minister Chrystia Freeland. This decision comes as part of the government’s efforts to address Chinese overcapacity and security threats posed by China. Prime Minister Justin Trudeau’s government has already implemented tariffs on Chinese electric vehicles and other goods, including battery parts and critical minerals. Freeland has defended these tariffs by citing China’s unfair trade practices and state subsidies that undercut other countries’ industries. However, the legality of these tariffs may be challenged through the World Trade Organization,…