Axiata profit tumbles on forex, finance costs
Axiata Group recorded double-digit revenue growth in the opening quarter, driven by a strong performance across most operating companies, while profit dropped on higher forex and finance costs.
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Globe names chief of new AI group
Philippines-based Globe Telecom established a group to lead its adoption of AI technology and created the position of chief AI officer (CAIO).
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Singtel tight-lipped on joint data centre bid
Singapore-based Singtel and investment company KKR emerged as the leading bidders for a 20 per cent stake in STT Telemedia Global Data Centres valued at about $1 billion, Reuters reported.
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Intelsat first to secure Philippines sat operator licence
Intelsat received approval from the Philippines government to provide service providers with satellite-based broadband and backhaul services, making it the first overseas company to secure a licence.
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Airtel argues pricing needs fixing as capex peaks
Gimme Credit, an India-based financial research firm, warned Bharti Airtel faces the risk of continued aggressive pricing from Reliance Jio as well as high capex as the second-largest operator targets the attractive broadband growth opportunity.
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Nvidia cuts chip prices in China on weak demand
US-based chipmaker Nvidia's shares may be soaring after raising its Q2 revenue forecast amid booming demand for graphic processors, but anaemic sales in China due to local competition and US restrictions forced it to cut prices, Reuters reported.
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Singtel books H2 loss, launches new growth strategy
Singtel unveiled a new growth plan aimed at boosting business performance and improving capital management, after reporting a SGD1.3 billion ($963.1 million) loss in fiscal H2 2024 (ending 31 March).
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South Korea pumps $19B into chip sector
South Korean President Yoon Suk Yeol unveiled a KRW26 trillion ($19.1 billion) support package for the country's chipmaking sector, covering financial, infrastructure, R&D and backing for SMEs, AFP reported.
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Samsung replaces chip unit head in AI push
Samsung replaced the head of its semiconductor business, the company's largest division, as it looks to make up lost ground on rival SK Hynix which attracted high-profile customers for its advanced high bandwidth memory (HBM) chips.
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Vodafone Idea looks to invest after losses widen
Vodafone Idea earmarked INR500 billion ($6 billion) to INR550 billion in capex over next three years to launch 5G in key cities and expand 4G population coverage in 17 areas following securing funding from major investors.
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