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Market news: WeRide (WRD.O) is accelerating the global expansion of its end-to-end intelligent driving solutions.July 13th - Morgan Asset Management predicts that central banks will likely maintain a slightly hawkish stance, but will be more restrained in raising interest rates. They now believe the Federal Reserve will keep interest rates unchanged throughout 2026, with one rate cut in the second half of 2027; the UK and Europe will maintain their current stance for the remainder of this year. As for the Bank of Japan, they expect it to continue its gradual normalization, with one rate hike each in the second half of 2026 and 2027.Iranian Foreign Ministry: The United States has repeatedly violated the agreement.On July 13, Iran announced in the early hours of July 12 that the Strait of Hormuz would be closed immediately due to the insecurity caused by illegal interference from foreign forces. In response, Foreign Ministry spokesperson Lin Jian stated at a regular press conference on July 13 that the Strait of Hormuz is a strait used for international navigation, and restoring safe and free passage through the strait as soon as possible is in the interests of all parties. The issue of navigation through the strait should be handled properly. China is willing to maintain communication with relevant countries and the international community on this matter.On July 13th, the Ministry of Industry and Information Technology and three other departments released the "Guiding Opinions on Promoting High-Quality Development of Internet Infrastructure Resources." The document proposes optimizing the layout of traditional infrastructure. It calls for promoting the optimization and upgrading of domain name resolution facilities, standardizing and improving the construction of domestic root mirror servers, increasing the number of resolution nodes for the ".CN" national top-level domain name, and strengthening the construction and management of domain name recursive resolution service facilities. It also emphasizes strengthening the planning and layout of routing facilities, optimizing and improving routing architectures at all levels, enhancing routing trust verification service capabilities, and building a fully accessible, efficient, intelligent, secure, and reliable routing network. Furthermore, it promotes strengthening the co-construction and sharing of experimental verification network environments among domestic research institutions and enterprises. Finally, it calls for the orderly advancement of the evolution and upgrading of internet infrastructure to support IPv6 single-stack.

Samsung Elec expects mobile and PC chip demand to decrease in the second quarter

Aria Thomas

Jul 28, 2022 11:15

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Due to robust sales of server memory chips, Samsung Electronics Co., Ltd. reported a 12 percent increase in quarterly earnings on Thursday. As macroeconomic uncertainty lingers, the business forecasts that demand for mobile and PC processors will continue to fall.


According to the world's largest manufacturer of memory chips for cell phones, operating profit increased to 14.1 trillion won ($10.8 billion) for the quarter ending June 30, up from 12.57 trillion won a year ago. This is the company's best profit for any quarter since 2014, and its highest profit for the second quarter since 2018.


In addition, the company's earnings exceeded its own projections of 14 trillion won.


The rise in revenue was 21%, amounting to 77,2 trillion won.


A strong dollar, which reached a 20-year high, also aided chip earnings, increasing Samsung (KS:005930 operational profit )'s by around 1.3 trillion won from the previous quarter.


The majority of Samsung's chip sales are handled in U.S. dollars, but the business reports profitability in Korean won; hence, a strong U.S. dollar boosts earnings from semiconductors.