ENTERTAINMENT
DreamWorks eyes China
DreamWorks Animation yesterday said it plans to build a US$3.2 billion theme park in Shanghai, as the US film giant seeks to bolster its presence in the booming Chinese entertainment market. The studio’s newly formed China joint venture, Oriental DreamWorks, is set to open the theme park in 2016, the creator of megahits like Shrek and Kung Fu Panda said in a statement. The 20 billion yuan (US$3.14 billion) project — called the Dream Center — will comprise entertainment facilities, animation exhibitions and commercial developments including hotels and shopping areas in Shanghai’s Xuhui district, it said.
GREECE
Energy privatization begins
The country wants binding bids for its state-owned natural gas company and gas grid operator by the end of next month and hopes to complete their sale in late autumn as it revives its privatization drive, a government official said on Monday. Hoping to regain credibility with international lenders keeping the country afloat, the new conservative-led government has made speeding up privatizations a priority, but has admitted delays from repeat elections in May and June. The government’s priorities also included the sale of gambling firm OPAP, the old Athens airport as well as buildings in Athens and on the islands of Corfu and Rhodes.
RETAIL
Esprit shares jump
Shares in global clothing retailer Esprit yesterday jumped 28 percent on the Hong Kong stock exchange after the company appointed a new chief executive. Esprit’s shares rose to HK$12.74 in afternoon trade following the appointment of Jose Manuel Martinez Gutierrez to replace Ronald van der Vis as chief executive.
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday. Castanares will succeed Brian Harrison as president of the Arizona subsidiary on Oct. 1 after the incumbent president steps down from the position with a transfer to the Arizona CEO office to serve as an advisor to TSMC Arizona’s chairman, the statement said. According to TSMC, Harrison is scheduled to retire on Dec. 31. Castanares joined TSMC in
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker. Intel and AWS are to coinvest in a custom semiconductor for artificial intelligence computing — what is known as a fabric chip — in a “multiyear, multibillion-dollar framework,” Intel said in a statement on Monday. The work would rely on Intel’s 18A process, an advanced chipmaking technology. Intel shares rose more than 8 percent in late trading after the
FACTORY SHIFT: While Taiwan produces most of the world’s AI servers, firms are under pressure to move manufacturing amid geopolitical tensions Lenovo Group Ltd (聯想) started building artificial intelligence (AI) servers in India’s south, the latest boon for the rapidly growing country’s push to become a high-tech powerhouse. The company yesterday said it has started making the large, powerful computers in Pondicherry, southeastern India, moving beyond products such as laptops and smartphones. The Chinese company would also build out its facilities in the Bangalore region, including a research lab with a focus on AI. Lenovo’s plans mark another win for Indian Prime Minister Narendra Modi, who tries to attract more technology investment into the country. While India’s tense relationship with China has suffered setbacks