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Latest: Fintech News

Russians Getting Cash from Finnish ATMs via Chinese Cards – YLE
Russians Getting Cash from Finnish ATMs via Chinese Cards – YLE

Russian tourists have been using Chinese credit cards to withdraw cash from automatic teller machines in Finland since Covid border restrictions eased on July 1

China’s SMIC to Splash $7.5bn on Fourth Chip Fab in Tianjin
China’s SMIC to Splash $7.5bn on Fourth Chip Fab in Tianjin

The new foundry will be run as a subsidiary of SMIC in cooperation with the government of Tianjin's Xiqing district. It will have an initial capital of $5 billion, a notice said on Friday

China Tech Giant Baidu Unveils Quantum Computer Qianshi
China Tech Giant Baidu Unveils Quantum Computer Qianshi

The new computer will solve data and problems that existing computers cannot, representing technological strides in AI, material simulation, and finance, Interesting Engineering reported

China Tells US-Listed Firms, Auditors to Get Ready for US Checks
Apple Snares Half of China’s High-End Phone Sales – SCMP
Pinduoduo Plans E-Commerce Platform For US Market
India Eyes $3bn Armed Drones Deal With US to Monitor China
Australia to do Crypto Stocktake Ahead of Regulatory Moves
Taiwan Calls Semiconductors ‘Democracy Chips’ in US Meeting
Apple Supplier Foxconn in $300m Plant Expansion in Vietnam

Fintech: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors