Technology

Singapore bank stocks fell as concerns spread about Credit Suisse's financial stability. The Swiss bank's stock dropped 30% after its largest shareholder declined additional investment, triggering market anxiety about potential global banking sector risks.

Telekom Malaysia and ZTE Malaysia announce strategic collaboration to build a hybrid cloud 5G core network. The three-year partnership focuses on innovative technologies like software-defined networking, hardware acceleration, and advanced data transfer methods, potentially revolutionizing future technological applications.

- MBSB Bank and PKNS Real Estate signed an MoU to support small businesses by introducing cashless transaction platforms like DuitNow. The partnership aims to help business owners in SACC Mall and PKNS Complex reduce operational costs and improve financial management through real-time retail payment solutions.

South Korea's semiconductor inventory rose 28% in January, marking the fastest increase since 1996. With chips comprising 12% of exports, the surge highlights a prolonged tech recession dampening economic growth. Global demand downturn and geopolitical tensions further complicate recovery prospects.

Tesla receives Malaysian approval to import electric vehicles, triggering a stock market surge. EV-related companies like KESM Industries, Pentamaster, and Genetec Technology see significant share price increases, reflecting market excitement about Tesla's strategic expansion into Malaysia.[100 words]

The International Atomic Energy Agency has dispatched teams to monitor Ukraine's nuclear plants, including Zaporizhzhia and Chernobyl, to ensure safety during the ongoing war. With at least 11 staff members deployed, this represents an unprecedented level of on-site monitoring.

IBM collaborates with Rapidus, a new Japanese government-backed chipmaker, to develop cutting-edge semiconductor technology. This partnership aims to help Japan regain its competitive edge in chip production amid global technological tensions and supply chain challenges.

[The Semiconductor Equipment Manufacturers Industry (SEMI) predicts global semiconductor manufacturing equipment sales will hit US$108.5 billion in 2022, surpassing the previous record of US$102.5 billion in 2021. Front-end and back-end categories are expected to drive growth, though sales are projected to decline to US$91.2 billion next year.]

Taiwanese economic officials express concerns about recent US semiconductor legislation potentially harming Taiwan's critical chip export industries. The $50 billion Chips and Science Act aims to reduce reliance on Taiwanese technology, creating uncertainty for the island's tech manufacturing sector.

SK Hynix will invest 15 trillion won ($10.9 billion) to build a new semiconductor facility called M15X in Cheongju, south of Seoul. Construction begins in October 2023 and is expected to complete in early 2025, expanding the company's memory chip manufacturing capabilities.