An exhibitor, right, explains a drone made by Russian drone developer and manufacturer UAS Glory Air to a visitor at the Drone Expo in New Delhi yesterday.
Photo: AFP
Federal Reserve Bank of Philadelphia President Anna Paulson on Thursday joined the chorus of policymakers saying additional interest-rate increases may be needed to ensure inflation returns to the central bank’s 2 percent goal. “Looking ahead, if conditions evolve as I expect, some modest further tightening may be warranted,” Paulson said on Thursday at an event in Philadelphia. Earlier on Thursday, New York Fed President John Williams said he and his colleagues “still have a lot of work to do” in dealing with lingering inflation risks. Several other officials have aired similar comments, in line with the signal given last week when policymakers voted
COURSE CHANGE: The shift comes amid pressure from chipmakers for stable, low-carbon electricity. Officials said Ma-anshan could be restarted as early as 2028 Taiwan has approved a preliminary plan to restart an idled atomic power plant, marking a reversal of the ruling party’s anti-nuclear stance as the nation pursues greater energy security. The Nuclear Safety Commission has cleared its review of an initial proposal to restart the Ma-anshan Nuclear Power Plant, it said in a statement on Thursday. Taiwan Power Co (台電) will still need to carry out follow-up work including safety inspections, before submitting another report on implementation for review, the commission said. The earliest the plant could resume operations is 2028, according to previous reports in local media, citing Minister of Economic Affairs
GlobalFoundries Inc yesterday said it plans to accelerate global capacity optimization and expansion to accommodate exponential growth in radio frequency (RF) and other chips driven by the artificial intelligence (AI) boom. Singapore will pay a vital role in the company’s capacity expansion, alongside production line optimizations across its manufacturing sites, GlobalFoundries Asia Pacific head Vincent Feng (范曾文) told a news conference in Hsinchu City. “Many might be surprised to hear that the RF market is thriving now. We are gearing up for a massive capacity expansion, and it is all being driven by AI,” Feng said. He declined to disclose details of the
LOPSIDED DEVELOPMENT: While AI firms are riding the wave as far it can take them, traditional industries and their workers are not floated by the same flood While Taiwan is benefiting from a global artificial intelligence (AI) boom, many traditional industries have seen little of the benefit, widening the country’s “K-shaped” economic divide, an economist said. A “K-shaped” economy is one in which some sectors expand rapidly while others struggle, head of the commerce development and strategy research division at the Commerce Development Research Institute Ju Haw (朱浩) said in an interview. In Taiwan’s case, high-tech and AI-related industries have continued to grow while traditional industries have come under increasing pressure, he said. AI development has created crowding-out effects, as large high-tech firms generating strong profits are better able
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