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According to Saudi Arabias Al Arabiya TV, the Saudi Civil Defense announced that the danger alert for the Jizan region has been lifted after the early warning system was activated.On August 16th, according to the WeChat Coral Security official account, WeChat recently released an announcement regarding the handling of illegal short dramas (July 2026). In accordance with the deployment requirements of the State Administration of Radio and Television and the Guangdong Provincial Radio and Television Bureau, the platform has continuously strengthened its inspection and review of vulgar and harmful short dramas and the operation and management of illegal and infringing short drama mini-programs. The platform also continues to standardize the management standards, creation requirements, and dissemination order of live-action short dramas, other animated short dramas, and AI live-action short dramas to effectively protect user rights and the physical and mental health of minors. Recently, through inspection and review, the platform discovered that some short dramas contained content with negative value orientations or infringing behaviors. In accordance with relevant national laws and regulations and the relevant provisions of the "Tencent WeChat Software License Service Agreement" and the "WeChat Mini-Program Operation Specifications," the platform removed dozens of illegal short dramas, including some with incorrect value orientations and poorly made content. At the same time, the platform also dealt with mini-programs with violations.Air raid sirens have been activated in the Jizan region, according to the Saudi official news agency. This comes after Irans Tasnim News Agency reported that an explosion was heard near the Jizan oil refinery in Saudi Arabia.On August 16, Abbas Goudarzi, spokesman for the Iranian Parliaments Presidium, announced that the Iranian Parliament had passed an anti-infiltration bill to counter infiltration by enemy intelligence agencies and foreign governments or institutions. According to reports, Hassan Kashkawi, spokesman for the Iranian Parliaments National Security and Foreign Policy Committee, said while introducing the bill that Iran already has laws against espionage, but there was a legal gap regarding anti-infiltration, and this bill aims to fill that gap.Israels economy rebounded in the second quarter, recovering from the economic contraction triggered by the military action against Iran. Data released Sunday by Israels Central Bureau of Statistics showed that seasonally adjusted GDP grew at an annualized rate of 15.4% in the second quarter, exceeding the median forecast of 8.3% from eight economists surveyed by Bloomberg. First-quarter GDP was revised to contract by 2.2%. Exports of goods and services led the growth, increasing by 35.2%; government consumption rose by 19.5%, private consumption by 14.7%, and fixed capital formation by 6.3%. Yonie Fanning, chief strategist at Mizrahi-Tfahot Bank, said in a telephone interview before the data release that the Israeli economy is expected to experience a "rapid recovery" after the economic contraction caused by the conflict with Iran. He stated that consumer spending, including on durable goods, is expected to be a key driver of the economic rebound.

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%.


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