logo
New innovation centre could create 300 jobs in Renfrewshire

New innovation centre could create 300 jobs in Renfrewshire

Daily Record21-07-2025
Plans have been announced to create a national hub for the development of advanced semiconductor packaging.
More than 300 high-tech jobs could be created in Renfrewshire thanks to a promised £29 million investment in green technology.

The money – put up by the UK Government as part of its investment in Glasgow City Region Innovation Zone projects – will accelerate semiconductor packaging innovation at the National Manufacturing Institute Scotland (NMIS).

It will fund a national hub for the development of advanced semiconductor packaging – a component needed for the manufacturing of next generation technologies from AI to computing and photonics.

In a first for Europe, the new facility – dubbed the National Advanced Semiconductor Packaging and Integration Centre (NASPIC) – will enable faster development of semiconductor devices, reducing packaging lead times from months to days. It will also reduce the UK's reliance on importing conductors from overseas.
The new centre will form part of the University of Strathclyde's Advanced Net Zero Innovation Centre based at the NMIS site in Inchinnan.
It is expected to create 300 new jobs and unlock an estimated £800m in additional revenue for UK and international businesses.

Professor Matt Boyle, director of electrification at NMIS, said: 'We are building a world-class capability here in Renfrewshire, positioning the region at the forefront of advanced semiconductor development.
'Our ambition is to serve the global market for semiconductor packaging. As part of this, we also intend to develop skills programmes that will fuel the sector's expansion both locally and nationally.
'This latest funding boost underlines NMIS's commitment to becoming a world-leading centre for advanced manufacturing in these critical technologies.

'NASPIC will support companies looking to bring manufacturing in-house and reduce their reliance on overseas supply chains. There is no other facility in the UK that offers the level of support and access to technology we are planning.
'This new national resource will be key to enhancing the UK's position in a growing global market, nurturing businesses and enabling them to scale.
'This is a very exciting moment. Scotland has long been at the forefront of semiconductor innovation.

'Now, with fresh momentum and investment, we have the opportunity to put Scotland back on the global map for advanced packaging, underpinned by targeted skills development.'
Professor Sir Jim McDonald, principal and vice-chancellor of the University of Strathclyde and chair of the NMIS board, added: 'This is a strategically important capability for the UK, enhancing our competitiveness, strengthening supply chains, and opening up new opportunities in high-growth sectors such as AI, quantum, and photonics.
'Through NMIS and our close collaboration with government and industry, we are helping to build the skills, infrastructure, and expertise required to secure the UK's future as a global leader in advanced manufacturing.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Singapore lender DBS maintains 2025 outlook, Q2 profit beats forecasts with 1% rise
Singapore lender DBS maintains 2025 outlook, Q2 profit beats forecasts with 1% rise

Reuters

time4 days ago

  • Reuters

Singapore lender DBS maintains 2025 outlook, Q2 profit beats forecasts with 1% rise

SINGAPORE, Aug 7 (Reuters) - Singapore's biggest bank DBS Group ( opens new tab maintained its 2025 outlook after posting a 1% rise in second-quarter net profit on Thursday that beat expectations on the back of higher total income. "While external uncertainties remain, we have opportunities ahead of us," Chief Executive Officer Tan Su Shan said in a statement. "Our proactive management of the balance sheet puts us in a good position to navigate the interest rate cycle, while strong capital and liquidity ensure we are well placed to support customers," she added. Tan maintained the 2025 outlook in general, including anticipating group net interest income slightly above 2024 levels, and net profit to be below 2024 levels, according to her observations and slides accompanying the results. DBS's results followed that of smaller peer Oversea-Chinese Banking Corp ( opens new tab, which posted on Friday an in-line second quarter net profit, but cut its 2025 net interest income expectations and flagged persisting tariff uncertainty. Major global lenders such as HSBC(HSBA.L), opens new tab and Standard Chartered(STAN.L), opens new tab reported a mixed bag of results last week, with some also highlighting the impact from U.S. President Donald Trump's tariffs. DBS, Southeast Asia's biggest lender by assets, said April-June net profit climbed to S$2.82 billion ($2.19 billion) from S$2.79 billion a year earlier. That beat the mean estimate of S$2.77 billion from three analysts, according to LSEG data. It declared an ordinary dividend of 60 Singapore cents per share and a Capital return dividend of 15 Singapore cents per share for the second quarter DBS' second quarter return on equity declined to 16.7%, from 18.2% a year ago. Net interest margin, a key gauge of profitability, dropped to 2.05% in the second quarter from 2.14% in the same period a year earlier. ($1 = 1.2848 Singapore dollars)

Singapore bank UOB's second-quarter net profit drops 6%, misses forecast
Singapore bank UOB's second-quarter net profit drops 6%, misses forecast

Reuters

time4 days ago

  • Reuters

Singapore bank UOB's second-quarter net profit drops 6%, misses forecast

SINGAPORE, Aug 7 (Reuters) - Singapore's United Overseas Bank, or UOB ( opens new tab, reported on Thursday a 6% drop in net profit in the second quarter from a year earlier, the first fall since the first quarter of 2024, mainly due to lower net interest income. UOB, Southeast Asia's third-largest bank by assets, said April-June net profit declined to S$1.34 billion ($1.04 billion) from S$1.43 billion a year earlier. This missed the mean estimate of around S$1.47 billion from three analysts polled by LSEG. ($1 = 1.2847 Singapore dollars)

Manage your money the smart way: This AI-powered app helps you budget, save, and meet your financial goals for just $2.99 a month
Manage your money the smart way: This AI-powered app helps you budget, save, and meet your financial goals for just $2.99 a month

Daily Mail​

time4 days ago

  • Daily Mail​

Manage your money the smart way: This AI-powered app helps you budget, save, and meet your financial goals for just $2.99 a month

Daily Mail journalists select and curate the products that feature on our site. If you make a purchase via links on this page we will earn commission - learn more It's no secret that money management can be a challenge. Whether you're juggling multiple accounts or saving for an important purchase, it can quickly become complicated and difficult to stay organized. Quicken Simplifi was created to bring all of those moving parts together in one clean and intuitive dashboard that updates in real time. The AI-powered platform is a dream for anyone who is committed to finally getting serious about managing their money. Quicken Simplifi Finally, take control of your finances without the stress and confusion. This sleek personal finance app keeps all of your account information in one place, allowing you to easily keep track of spending, monitor your net worth, and focus on future planning. Try it now for just $2.99 per month for the first year. You will never look back! $2.99/month Shop Priced at just $2.99 per month with a 30-day money-back guarantee, Simplifi is an accessible investment in your financial well-being. It offers anyone a smart and approachable way to gain control and clarity over this often tricky area. With a quick glance, the app provides exactly what you need to know. Once you see everything laid out so cleanly, you start to feel a little bit like a finance expert! That's because Simplifi gathers everything, including your checking, savings, credit cards, investments, and your home's estimated value, into one tidy dashboard. And that means you can glean your complete financial picture in one place instead of toggling between apps or trying to remember which account contains which funds. The power of the platform is really in its automation. AI categorizes your spending automatically, sending you alerts for everything from your upcoming bills to any unusual activity that might be detected. This is vital, as it can help you avoid the surprises that may otherwise throw your budget off track. The system is intelligent, handling the busy work for you so you can spend less time focusing on the granular details and put more energy into achieving your goals. In fact, Simplifi can help you plan for those goals, too, whether you're building an emergency fund or saving for an epic vacation. Because you can customize the tool and tailor it to your situation, you can get the most accurate and clear-eyed spending plan possible. The concept is simple in theory: It works behind the scenes to calculate what is safely left for you to spend after covering your fixed bills and savings goals. As your situation shifts, whether because a bill increased or you stashed some more into savings, the information automatically updates to help you stay on track without needing to recalculate or micromanage. The real-time updates change the game! It also organizes your spending by category, recognizing the nature of each transaction and filing them under groceries, gas, or anything else you purchase. The system even nudges you when something important happens, whether money just hit your bank account or a subscription was renewed. You never have to wonder what that mystery charge is about or chase it down on your own. Simplifi is also a powerful forecasting agent. It can project your future cash flow based on your income, savings, and ongoing bills to help you make confident decisions about your purchases. Setup is a breeze, too. Quicken includes free onboarding so you can get going with Simplifi in no time at all. And, yes, actual human beings are available if you need to connect with someone by phone or chat. You can even set it up live with a friendly agent if you prefer. No matter what your financial situation, staying in control of your money is crucial. Proactive individuals who want to do it all can find everything that they need through Quicken Simplifi! Don't miss the chance to get started for just $2.99 monthly.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store