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Growth ahead for semiconductor equipment market

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Growth ahead for semiconductor equipment market

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Growth ahead for semiconductor equipment market

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Fed Will Be Tested in 2021 as Vaccines Boost U.S. Economic Outlook | Investing News

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Iron Ore Rockets To $160 A Ton And China Cries Foul

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Indonesia says China’s CATL plans to invest $5 billion in lithium battery plant

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Credit Suisse postpones 10%-12% return on tangible equity ambition

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Growth ahead for semiconductor equipment market

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Growth ahead for semiconductor equipment market

Jessie Shen, DIGITIMES, Taipei

Global sales of semiconductor manufacturing equipment by original equipment manufacturers are projected to increase 16% compared to US$59.6 billion in 2019 and register a new industry record of US$68.9 billion in 2020, according to SEMI.

Growth is expected to continue with the global semiconductor manufacturing equipment market reaching US$71.9 billion in 2021 and US$76.1 billion in 2022, SEMI said.

Both the front-end and back-end semiconductor equipment segments are expected to power the expansion, SEMI indicated. The wafer fab equipment segment, which includes wafer processing, fab facilities and mask/reticle equipment, is projected to rise 15% to reach US$59.4 billion in 2020, followed by 4% and 6% growth in 2021 and 2022, respectively.

The foundry and logic segments, which account for about half of total wafer fab equipment sales, will see a mid-teens percentage increase this year to

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Fed Will Be Tested in 2021 as Vaccines Boost U.S. Economic Outlook | Investing News

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(Reuters) – If 2020 was the year the Federal Reserve overhauled its game plan for supporting the U.S. economy, 2021 will be the year its new approach gets tested should a coronavirus vaccine deliver the lift that many analysts expect.

In its final policy meeting of the year this week, the U.S. central bank is expected to keep its key overnight interest rate pinned near zero and to signal it will stay there for years to come; many analysts also expect new guidance on how long the Fed will keep up its massive bond-buying program.

The super-easy monetary policy is part of a long-term strategy the Fed adopted in August to help it navigate a world of persistently low interest rates that limits the central bank’s options for fighting downturns and makes it difficult to hit its 2% inflation goal.

The idea is to counteract any unhealthy downward drag on

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Iron Ore Rockets To $160 A Ton And China Cries Foul

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Like all trade wars the David v Goliath fight between China and Australia is morphing into a lose/lose game of point scoring with China trying to humiliate its smaller target only to see Australia skip away unscathed, so far.

What started with China banning the import of Australia barley and other farm products has been ratcheted up with the imposition of punitive tariffs on wine and a formal ban on Australian thermal, or electricity-producing, coal.

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The net result of China’s tariff attack and import bans has been totally negated by a sharp rise in the price of Australian iron ore, causing the Chinese Iron and Steel Association (CISA) to cry foul and call for government intervention.

The problem for CISA is

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Indonesia says China’s CATL plans to invest $5 billion in lithium battery plant

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JAKARTA (Reuters) – China’s Contemporary Amperex Technology (CATL) plans to invest $5 billion in a lithium battery plant in Indonesia, Indonesia’s deputy minister at the coordinating ministry of maritime and investment affairs said on Tuesday.



a tall building: FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde

© Reuters/CHINA STRINGER NETWORK
FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde

The lithium battery plant will start production in 2024, deputy minister, Septian Hario Seto, told a virtual briefing.

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“The target is that they (CATL) will invest around $5 billion… and the first production of batteries can be done in 2024,” Septian said.

He said CATL has signed an agreement with Indonesian state miner PT Aneka Tambang requiring CATL to ensure 60% of nickel be processed into batteries in Indonesia.

“We don’t want them to get our nickel but then process it abroad,” he said.

CATL did not immediately respond to

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Credit Suisse postpones 10%-12% return on tangible equity ambition

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Adds further detail from statement, background

ZURICH, Dec 15 (Reuters) – Credit Suisse CSGN.Son Tuesday reiterated its key financial ambition for a 10%-12% return on tangible equityin the medium term but avoided re-committing to the 10% goal previously set for this year.

Switzerland’s second-biggest bank also laid out plans to boost growth in wealth management, aiming to grow wealth-related pre-tax profit to 5.0 – 5.5 billion Swiss francs ($5.64- $6.20 billion) by 2023 or approximately 10% annually, as well as investment banking.

It said it expected to turn around its asset management business in 2021 by focusing more on alternative and private market offerings, and those related to sustainable investing.

“Today, we are outlining … broad-based investment initiatives to accelerate growth in our Wealth Management-related businesses and our Investment Bank,” Thomas Gottstein said in remarks prepared for his first investor outlook presentation as

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Oil dips on demand worries as COVID-19 lockdowns tighten

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By Sonali Paul, Shu Zhang

FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann/File Photo

MELBOURNE/SINGAPORE (Reuters) -Oil prices edged down on Tuesday as tighter lockdowns in Europe and an OPEC forecast for a slower recovery in demand next year outweighed relief from the roll-out of coronavirus vaccines.

U.S. West Texas Intermediate (WTI) crude futures fell 18 cents, or 0.38%, to $46.81 a barrel by 0737 GMT. Brent crude futures fell 20 cents, or 0.4%, to $50.09 a barrel.

London stepped up restrictions requiring bars and restaurants to close, as COVID-19 infection rates continued to rise sharply, which will dent fuel demand in the near term.

Further marring the demand outlook, Italy said it was considering more stringent restrictions over the Christmas holidays, while most stores in Germany have been ordered to shut until Jan. 10.

“While the market has

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India has a ‘once-in-a-lifetime’ technology opportunity

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India’s entrepreneurs have a unique opportunity to shape the future of technology, not only within their own country but across the globe, according to the billionaire founder of one of the country’s most successful start-ups.

Vijay Shekhar Sharma, CEO of financial technology company Paytm, said accelerating internet adoption under the pandemic has increased the need for new, tech-enabled tools in developing countries — a market India is well-placed to serve.

“It is a once-in-a-lifetime opportunity for entrepreneurs to build this in this side of the region,” Sharma said Friday at the Singapore FinTech Festival.

Tapping into India’s potential

Technology today is primarily designed for sophisticated users in wealthy countries, noted Sharma.

That may suit around 1 billion people, he said. But the rest of the world’s 4.6 billion internet users (and counting) will require new, tailor-made solutions as internet use becomes more prevalent.

That’s where entrepreneurs in Asia — and

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Lessor BOC Aviation says AirAsia X restructuring favours Airbus, calls for debt-to-equity swap

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By Liz Lee



a large passenger jet sitting on top of a runway: FILE PHOTO: File photo of an AirAsia X Airbus passenger jet arriving at Orly airport near Paris

© Reuters/Charles Platiau
FILE PHOTO: File photo of an AirAsia X Airbus passenger jet arriving at Orly airport near Paris

KUALA LUMPUR (Reuters) – Lessor BOC Aviation Limited (BOCA) has asked a Malaysian court to dismiss AirAsia X Bhd’s debt restructuring scheme as it rules out a debt-to-equity swap and gives too much power to Airbus as a creditor, an affidavit filed by a top BOCA executive shows.

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AirAsia X (AAX), the long-haul unit of budget airline AirAsia Group, has proposed to reconstitute $15.3 billion of debt into a principal amount of 200 million ringgit ($48 million) and have the rest waived.

The airline, which has posted losses since June 2019, said the alternative was to face liquidation with no returns to creditors. It is now seeking court approval to convene a meeting with creditors to vote on the scheme.

In an affidavit filed at

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Machinery and equipment sector can profit from digitisation

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THE Covid-19 pandemic has made it clear that digital solutions are vital for enterprises to remain competitive, especially SMEs.

Our country’s machinery and equipment (M&E) sector is dominated by at least 85% locally-owned SMEs and the majority of them are comfortable with their traditional methods of business management, resulting in little contribution to today’s sector productivity.

This needs to be challenged as more developed nations are becoming increasingly competitive by adopting new technologies and business methods.

To boost productivity in the M&E sector, the M&E Productivity Nexus (MEPN), supported by Malaysia Productivity Corporation (MPC), was established and led by industry associations under the Machinery and Engineering Industries Federation (MEIF) to assist SMEs in operations-related productivity improvement.

However, reaching out to the SMEs of the M&E sector is a big challenge as they tend to keep away from digitisation, thinking that such investment is costly and it comes with complicated processes.

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Women entrepreneurs trained to pitch for funds

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SIXTEEN women, all micro entrepreneurs from the March Pen and Corletts Roads communities in Spanish Town, St Catherine, were recently taught how to make a persuasive business pitch to attract funding for their operations.

The women, whose ages ranged from 18 to 40 years, participated in a workshop under the Woman Economic Empowerment Project (WEEP), an initiative of the Girls to Women Development Foundation Limited, a non-profit organisation, based in St Catherine, which has been in operation for the past five years.

“The purpose of the WEEP Programme is to train and develop the morale of women, who have been exposed, or are likely to be exposed to domestic violence. Classes are held from Mondays to Fridays and is for six months,” said Stacy-Ann Gavin, managing director, Girls to Women Foundation.

“We’re working to build up their entrepreneurial and social skills. We are also giving them exposure to the

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