TSMC Poised For Record Q2 Profit Amid Tariff, Currency Worries
While Q2 revenue has already been flagged to rise 38.6%, concerns linger over potential US tariffs on Taiwanese semiconductors and the impact of a strengthening Taiwan dollar, which has appreciated 12% against the greenback this year. A 1% appreciation typically trims 0.4 percentage points off TSMC's gross margin.
The earnings will be announced at 0530 GMT, followed by a guidance call at 0600 GMT. TSMC shares are up 5% year-to-date, slowing from last year's 80% surge.
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The Star
7 hours ago
- The Star
US drops sanctions on Myanmar junta allies after Trump praise
A trishaw driver rides as his passenger uses an umbrella to cover themselves from the rain in Yangon on July 21, 2025. -- Photo by Sai Aung MAIN / AFP YANGON (AFP): The United States has lifted sanctions on several allies of Myanmar's ruling general and their military-linked firms, a US Treasury notice shows, after the junta chief sent a glowing letter of praise to President Donald Trump. Junta chief Min Aung Hlaing seized power in a 2021 coup, deposing the civilian government and sparking a civil war that has killed thousands, leaving 3.5 million displaced and half the nation in poverty. Two weeks ago, the top general sent a letter to Trump, responding to his threat of tariffs by lauding his presidency with praise, including for shutting down US-funded media outlets covering the conflict. A US Treasury notice on Thursday said sanctions were dropped against KT Services and Logistics, the Myanmar Chemical and Machinery Company, and Suntac Technologies -- as well as their managers. In a statement, a US Treasury Department spokesperson denied there was an "ulterior motive" in the move, although the notice did not provide a reason for the removals. "Anyone suggesting these sanctions were lifted for an ulterior motive is uninformed and peddling a conspiracy theory driven by hatred for President Trump," said the spokesperson, on condition of anonymity. They added that individuals were "regularly added and removed" from the sanctions list "in the ordinary course of business." KT Services and Logistics and its CEO Jonathan Myo Kyaw Thaung were described as junta "cronies" when they were sanctioned in 2022 for leasing Yangon's port from a military firm for $3 million a year. The Myanmar Chemical and Machinery Company and its owner, Aung Hlaing Oo, and Suntac Technologies owner Sit Taing Aung were sanctioned later that year for producing arms, including tanks and mortars. A third Myanmar national, Tin Latt Min -- who the US previously described as owning "various companies that are closely related to the regime" -- was also removed from the sanctions list. Trump sent a letter to junta chief Min Aung Hlaing earlier this month, one among a raft of missives despatched to foreign leaders during his global tariff blitz. The letter -- believed to be Washington's first public recognition of the junta's rule since the coup -- threatened Myanmar with a 40 percent levy unless a trade deal was struck. Min Aung Hlaing responded with a multi-page letter expressing his "sincere appreciation" for Trump's message and praising his "strong leadership". - AFP
The Star
10 hours ago
- The Star
Trump administration issues plan to limit AI exports to China
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The department will also lead efforts to increase the monitoring of exported US chip end users and to explore using new chip location verification features to keep them out of 'countries of concern' – a term often used to refer to China, Iran, North Korea and Russia, among others. The plan also directs the Defence and Commerce departments to coordinate with allies on adopting US export controls and to prohibit American adversaries from being involved in their defence supply chains. 'Artificial intelligence is a revolutionary technology with the potential to transform the global economy and alter the balance of power in the world,' White House AI tsar David Sacks said in a written statement. 'To win the AI race, the US must lead in innovation, infrastructure, and global partnerships ... This Action Plan provides a road map for doing that,' he added. 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The Star
10 hours ago
- The Star
Oil prices ease to three-week low at weekend as negative economic news offsets trade optimism
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