EUR/USD 1.15712
-0.064%
Gold 4391.53
-0.567%
Oil 84.249
0.189%
USD/JPY 159.721
0.163%
GBP/USD 1.35343
-0.060%
GBP/JPY 216.176
0.112%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
August 18th - Today (August 18th), the three-layer structure of the antenna mount for the 110-meter Aperture Spherical Radio Telescope (110-meter radio telescope) project, located in Qitai County, Changji Prefecture, Xinjiang, was successfully assembled, marking the projects main structure entering its final construction phase. This worlds most precise radio telescope, currently under construction, will significantly address my countrys lack of ultra-large aperture antennas for deep space exploration and other fields. The Xinjiang Qitai 110-meter radio telescope project commenced in September 2022 and is expected to be mainly completed in 2027, with full operation commencing in 2028.On August 18, according to the National Healthcare Security Administration, the Administration recently conducted research in Enshi, Hubei Province, on the situation of medical insurance support for primary healthcare services. The Administration also sought opinions and suggestions from primary healthcare institutions, some local medical insurance departments, and experts and scholars regarding the selection of primary healthcare diseases for disease-based payment, discussed ways to improve the scope of primary healthcare disease selection, and reached a consensus on reform.August 18th - According to the Financial Times, the head of Libyas National Oil Corporation (NOC) stated that Libya needs up to $40 billion in investment to develop its oil and gas resources in an effort to regain its status as a major global crude oil producer. According to the U.S. Energy Information Administration, the country possesses Africas largest proven oil reserves and has attracted numerous international oil companies seeking new investment opportunities in recent years. However, NOC Chairman Masoud Suleman stated that a shortage of funds is hindering progress. He said, "We have a large amount of untapped resources. We need a lot of capital, approximately between $30 billion and $40 billion." Sulemans goal is to increase Libyan oil production from the current approximately 1.4 million barrels per day to 2 million barrels per day by 2030. He indicated that more than 60 oil and gas fields have been discovered but remain undeveloped. Foreign companies, including Eni, Total Energy, Chevron, and ConocoPhillips, have operations in Libya, but investment progress has been slow.On August 18, the Ministry of Transport announced that it will hold a special press conference at 10:00 AM on August 20, 2026, to introduce the relevant situation of the "Artificial Intelligence + Transportation" typical application scenario innovation action and answer questions from reporters.According to the Financial Times, Libya is seeking up to $40 billion in funding to develop its oil resources.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.


Suggestion