Latest news with #Washington-Beijing
Korea Herald
07-05-2025
- Business
- Korea Herald
Seoul shares open tad higher on upcoming US-China trade talks
South Korean stocks opened a tad higher Wednesday on news that the United States and China will start trade talks later this week following President Donald Trump's tariff policies. The Korean won also started sharply higher to trade at a six-month high of 1,380 won per dollar at the opening. The benchmark Korea Composite Stock Price Index added 0.74 point, or 0.03 percent, to 2,560.53 in the first 15 minutes of trading. The Washington-Beijing trade negotiations are scheduled to take place in Switzerland this weekend, with US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng attending. Wall Street, however, finished lower before the announcement of the US-China trade talks. The Dow Jones Industrial Average fell 0.95 percent, and the Nasdaq composite lost 0.87 percent. In Seoul, most shares started in positive territory. Market bellwether Samsung Electronics rose 0.28 percent and its chipmaking rival SK hynix gained 0.7 percent. Leading battery maker LG Energy Solution increased 0.39 percent, and top defense firm Hanwha Aerospace went up 2.69 percent. The local currency was trading at 1,384.35 won against the US dollar at 9:15 a.m., up 26.05 won from the previous session. (Yonhap)
Time of India
06-05-2025
- Business
- Time of India
Apple supplier Jabil eyeing more AirPods casing from India plants
Apple supplier Jabil is planning to significantly boost sourcing of AirPods enclosures from India by tapping its planned second facility in the country, said multiple people aware of the developments. The move reflects a broader push by Apple to diversify its supplier base from China amid global tariff-related uncertainties and the ongoing Washington-Beijing trade war. Jabil, which currently makes plastic bodies or casings for AirPods at its Pune plant, is considering using the Tiruchirappalli (Trichy) factory in Tamil Nadu to expand AirPods production, the people said. "Jabil is considering Trichy as an AirPods production option," said one of the persons cited above. "They are expected to get back to the state government on their final plan by the end of June or July." The person added that the US company's executives met Tamil Nadu chief minister MK Stalin in Chennai last month, after which they visited Trichy where construction is yet to begin for the proposed facility. "Jabil, like other Apple suppliers, is looking to strengthen their manufacturing footprint in India," a second person said. "They see value in being able to double down on their production capabilities for Apple in India." "AirPods component production is a fairly new category in India and one that is expected to gain more significance in the near future and companies like Jabil are hoping to be ahead of the curve," the person said. Jabil and Apple did not respond to ET's queries. Jabil's plan to boost India production follows reports that Foxconn 's Hyderabad facility has started AirPods assembly for exports. This signals that Apple is strategically expanding its manufacturing base in India to reduce its reliance on China and diversify its global supply chain, experts noted. Apple, on its part, has made significant investments in India through their partners Foxconn and Tata Group, particular for iPhone manufacturing. "In the overarching context of ongoing supply chain realignments and geopolitical uncertainties, India has been a key node for Apple's AirPods ambitions," said Prabhu Ram, vice president - industry research group at CyberMedia Research. "Jabil's Indian operations already supply critical casings for AirPods assembly in China and Vietnam. With the potential expansion moves in Trichy, India is slowly getting its end-to-end Apple manufacturing ecosystem together, from assembly to components." Jabil announced on September 10 last year that it had signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for its manufacturing plan in Trichy. The signing, which took place in Chicago, was attended by the state's chief minister M K Stalin, and industries minister T R B Rajaa.
Time of India
06-05-2025
- Business
- Time of India
Apple supplier Jabil eyeing more AirPods casing from India plants
Apple supplier Jabil is planning to significantly boost sourcing of AirPods enclosures from India by tapping its planned second facility in the country, said multiple people aware of the developments. The move reflects a broader push by Apple to diversify its supplier base from China amid global tariff-related uncertainties and the ongoing Washington-Beijing trade war. #Pahalgam Terrorist Attack Pakistan's economy has much more to lose than India's due to the ongoing tensions, warns Moody's Ratings The day Pakistan got the power to poke India FM Sitharaman meets ADB chief and Italian FM, discusses economic issues; no mention of Pakistan Jabil, which currently makes plastic bodies or casings for AirPods at its Pune plant, is considering using the Tiruchirappalli (Trichy) factory in Tamil Nadu to expand AirPods production, the people said. "Jabil is considering Trichy as an AirPods production option," said one of the persons cited above. "They are expected to get back to the state government on their final plan by the end of June or July." The person added that the US company's executives met Tamil Nadu chief minister MK Stalin in Chennai last month, after which they visited Trichy where construction is yet to begin for the proposed facility. "Jabil, like other Apple suppliers, is looking to strengthen their manufacturing footprint in India," a second person said. "They see value in being able to double down on their production capabilities for Apple in India." "AirPods component production is a fairly new category in India and one that is expected to gain more significance in the near future and companies like Jabil are hoping to be ahead of the curve," the person said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Jabil and Apple did not respond to ET's queries. Jabil's plan to boost India production follows reports that Foxconn 's Hyderabad facility has started AirPods assembly for exports. This signals that Apple is strategically expanding its manufacturing base in India to reduce its reliance on China and diversify its global supply chain, experts noted. Apple, on its part, has made significant investments in India through their partners Foxconn and Tata Group, particular for iPhone manufacturing. "In the overarching context of ongoing supply chain realignments and geopolitical uncertainties, India has been a key node for Apple's AirPods ambitions," said Prabhu Ram, vice president - industry research group at CyberMedia Research. "Jabil's Indian operations already supply critical casings for AirPods assembly in China and Vietnam. With the potential expansion moves in Trichy, India is slowly getting its end-to-end Apple manufacturing ecosystem together, from assembly to components." Jabil announced on September 10 last year that it had signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for its manufacturing plan in Trichy. The signing, which took place in Chicago, was attended by the state's chief minister M K Stalin, and industries minister T R B Rajaa.
Business Recorder
30-04-2025
- Business
- Business Recorder
Chicago wheat rises after losses, improved US weather caps gains
SINGAPORE/PARIS: Chicago wheat futures rose for the first time in three sessions on Wednesday, with bargain-hunting supporting prices, although much needed rain in the U.S. crop belt kept a lid on prices. Corn and soybeans slid, with both markets facing pressure from rapidly advancing U.S. planting and the Washington-Beijing trade war. The most-active wheat contract on the Chicago Board of Trade (CBOT) was up 0.2% at $5.26-3/4 a bushel as of 1042 GMT, after dropping around 2.5% on Tuesday. Soybeans fell 0.9% to $10.43-3/4 a bushel, while corn declined 0.1% to $4.69-3/4 a bushel. 'The significant improvement in U.S. winter wheat conditions (…) is weighing heavily on this market. This pressure is further reinforced by the expectation of beneficial rainfall in the southern Great Plains,' Argus' consultancy Agritel said in a note. U.S. farmers had planted 24% of the corn crop as of Sunday, the U.S. Department of Agriculture (USDA) said in a report released on Monday, one percentage point behind analysts' estimate but ahead of the five-year average of 22%. Corn and soy ease on crop progress, wheat steadies after slide The agency said the soybean crop was 18% planted, ahead of the five-year average of 12% and analysts' estimate of 17%. The China-U.S. trade war is continuing to cloud U.S. soybean export prospects. China aims to cut grain use in livestock feed to around 60% and slash soymeal content to about 10%, the agriculture ministry said. However, this may prove difficult as China's soybean imports were at a record high last year, raising questions about the implementation of feed reformulation efforts. Corn and soybean markets were also pressured by favourable crop weather in South America. Recent showers have eased drought conditions that threatened Brazil's safrinha corn crop, while a dry spell in Argentina is set to help corn and soybean harvesting after heavy rains. Commodity funds were net sellers of CBOT corn, soybean, wheat and soyoil futures contracts on Tuesday, but were net buyers of soymeal futures, traders said.
Zawya
30-04-2025
- Business
- Zawya
Chicago wheat rises after losses, improved US weather caps gains
SINGAPORE/PARIS: Chicago wheat futures rose for the first time in three sessions on Wednesday, with bargain-hunting supporting prices, although much needed rain in the U.S. crop belt kept a lid on prices. Corn and soybeans slid, with both markets facing pressure from rapidly advancing U.S. planting and the Washington-Beijing trade war. The most-active wheat contract on the Chicago Board of Trade (CBOT) was up 0.2% at $5.26-3/4 a bushel as of 1042 GMT, after dropping around 2.5% on Tuesday. Soybeans fell 0.9% to $10.43-3/4 a bushel, while corn declined 0.1% to $4.69-3/4 a bushel. " The significant improvement in U.S. winter wheat conditions (...) is weighing heavily on this market. This pressure is further reinforced by the expectation of beneficial rainfall in the southern Great Plains," Argus' consultancy Agritel said in a note. U.S. farmers had planted 24% of the corn crop as of Sunday, the U.S. Department of Agriculture (USDA) said in a report released on Monday, one percentage point behind analysts' estimate but ahead of the five-year average of 22%. The agency said the soybean crop was 18% planted, ahead of the five-year average of 12% and analysts' estimate of 17%. The China-U.S. trade war is continuing to cloud U.S. soybean export prospects. China aims to cut grain use in livestock feed to around 60% and slash soymeal content to about 10%, the agriculture ministry said. However, this may prove difficult as China's soybean imports were at a record high last year, raising questions about the implementation of feed reformulation efforts. Corn and soybean markets were also pressured by favourable crop weather in South America. Recent showers have eased drought conditions that threatened Brazil's safrinha corn crop, while a dry spell in Argentina is set to help corn and soybean harvesting after heavy rains. Commodity funds were net sellers of CBOT corn, soybean, wheat and soyoil futures contracts on Tuesday, but were net buyers of soymeal futures, traders said. (Reporting by Naveen Thukral in Singqpore and Sybille de La Hamaide in Paris; Editing by Sumana Nandy, Sonia Cheema and Chizu Nomiyama ) Reuters
