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Chinese carmaker BYD overtakes Tesla as world's most popular EV maker

Analysts expect BYD to launch its third-generation EVs next year offering more technology, such as automated-driving capabilities

China appoints new navy chief amid mounting South China Sea tensions

Hu Zhongming was promoted to the rank of general at a ceremony in Beijing attended by President Xi Jinping on Monday, the official Xinhua News Agency reported

China unveils Hu Zhongming as new naval chief amid rising maritime tensions

Hu Zhongming was promoted to the rank of general at a ceremony in Beijing attended by President Xi Jinping on Monday

Samsung Electronics delays production at new US chip plant to 2025: Report

Revisions to TSMC's and Samsung's plans would mean their new plants, worth tens of billions of dollars, may only come online after the US presidential election next year

Israel to increase defence spending by at least $8 billion as war rages

The ministry, in a document presented to parliament on Monday, said the overall 2024 budget will probably have to total 562 billion shekels

BOJ Governor Ueda sees benefits of positive inflation on policy process

"I believe that greater economic stability as a result of securing room for monetary policy responses will have significant positive effect on firms as they formulate their business plans," Ueda said

Bracing for more sanctions, says Bank of Russia governor amid Ukraine war

The US announced Friday that it would use sanctions against banks that facilitate deals in which Russia procures semiconductors, ball bearings and other equipment necessary for its war machine

Maersk prepares to resume shipping via Red Sea under US-led protection

Houthi attacks on merchant ships have caused widespread avoidance of the southern Red Sea by the merchant fleet moving everything from manufactured goods and grains to oil and gas

Google rejected Play Store fee changes due to revenue impact: Epic Lawsuit

Google created Project Everest in 2021 to reconsider the Play Store billing model, according to the documents, which were released as part of an antitrust suit by Epic Games Inc

Micron settles high-profile IP theft lawsuit amid push to repair China ties

The settlement comes months after the Chinese government in May barred Micron's chips from "critical infrastructure" over cybersecurity concerns

Iran army demonstrates its military might as Gaza, Red Sea conflicts grow

The Islamic Republic has consistently denied all allegations of involvement in the attacks on commercial shippers, which have escalated since the conflict in Gaza began October 7

Iran's foreign minister dismisses US claims of them backing Houthi rebels

The White House, citing newly released intelligence, said Friday that Iran was "deeply involved" in the planning of the Houthi attacks and has supplied weapons, financial support and training

OpenAI in talks to raise new funding at valuation of $100 billion or more

Investors potentially involved in the fundraising round have been included in preliminary discussions, according to the people, who asked not to be identified to discuss private matters

LA's third-tallest tower Aon Center sells for 45% below 2014 price

The sale is the largest office deal this year in downtown Los Angeles, which has been among the hardest-hit US office markets since the pandemic as remote work becomes more popular

US aims tougher sanctions at banks in new bid to hurt Putin: Report

Under Friday's action, some of those banks could face penalties for maintaining those relationships if the trade continues

Tesla buys land for Shanghai battery factory, to make 10K units anually

The Shanghai location is Tesla's second dedicated Megapack factory, following the Lathrop plant in California. Its EV facility in Nevada can also make the Megapack

Tencent leads $80 billion rout as China gaming curbs revive crackdown fears

The top gaming regulator on Friday published draft rules broadly designed to clamp down on practices that encourage players to spend more money and time online

Adani Green Energy plans to raise $2 billion through debt next year

Ahmedabad-based Adani Green Energy Ltd. is exploring various instruments including private placement of debt, offshore bank loans as well as dollar and rupee bonds

Dollar's share in global central bank reserves declines, IMF data shows

The shares of the Chinese yuan, the British pound, the Australian and Canadian dollars and the Swiss franc were little changed

Govt plans to expand coal power fleet to meet soaring demand: Report

Coal is likely to account for the lion's share of this expansion, as gas-fired electricity generation is currently unviable due to the high costs of the fuel