Business

U.S. chipmaker Intel announces an ambitious €80 billion investment across Europe to expand semiconductor manufacturing and research. CEO Pat Gelsinger highlights the global demand for chips, with planned production sites and R&D centers in Germany, Ireland, France, and Italy over the next decade.

MIDF research indicates the automotive sector is preparing for sustainable recovery. With plant re-openings and resumed operations from 16 August, the industry expects to regain production losses from the past two and a half months. Completely-knocked-down kits remain well-stocked, supporting potential growth.

Japan approves a strategic semiconductor development project with TSMC, aiming to enhance technological capabilities and address global chip supply challenges in key industries like automotive manufacturing.

Chinese bubble tea brand Nayuki, founded in Shenzhen in 2014, plans to raise $656 million through Hong Kong stock market listing. Founders Peng Xin and Zhao Lin expected to achieve billionaire status following successful initial public offering.

Telecommunications giants Axiata Group and Telenor Asia have completed a landmark merger of their Malaysian wireless operations, creating a new tech leader. The combined entity, MergeCo, promises significant synergies, with pre-tax profits of 5.7 billion ringgit and strong financial prospects. Both parent companies will hold equal 33.1% stakes in the newly formed company.

Britain and Singapore are set to begin talks on a digital economic partnership, aimed at eliminating trade barriers and supporting tech innovation. This initiative is part of the UK's strategy to establish itself as a global technology hub following its exit from the European Union.

UEM Sunrise Bhd has partnered with Maybank Islamic's HouzKEY to help clients, including first-time and second-time homeowners, acquire their dream home. The collaboration offers zero payments during construction, zero down payment, and 100% financing for 10 projects.

Singapore's GIC Pte Ltd has purchased a 16% stake in Sunway Healthcare Holdings for RM750 million through its indirect arm Greenwood Capital. The investment involves acquiring shares in Sunway City and subscribing to Sunway Healthcare shares, marking a significant healthcare sector investment. - EXCERPT: Captures the core information, main parties, transaction value, and investment context - Maintains SEO best practices of being informative, precise, and keyword-focused

GlobalFoundries is investing US$6 billion in new semiconductor manufacturing facilities, with a primary focus on Singapore. The expansion aims to address ongoing global chip shortages affecting industries like automotive and consumer electronics, while responding to strategic manufacturing priorities.

SEA Ltd and Petronas are among key players exploring digital banking licenses in Malaysia. Other potential applicants include Genting, YTL Corp, and Grab Holdings, signaling a competitive race to enter the country's emerging digital financial services market.