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Latest: Fintech News

India’s Chinese App Ban Helps Own Tech Sector Flourish – SCMP
India’s Chinese App Ban Helps Own Tech Sector Flourish – SCMP

New Delhi has banned over 220 Chinese apps, including 54 just last month, in a blow to publishers that saw India as the next growth market

Foxconn in Talks to Build $9bn Factory in Saudi Arabia – WSJ
Foxconn in Talks to Build $9bn Factory in Saudi Arabia – WSJ

The multipurpose facility could make microchips, electric-vehicle components and other electronics like displays

China’s Tencent Could Face Money Laundering Fine – WSJ
China’s Tencent Could Face Money Laundering Fine – WSJ

The PBOC uncovered violations during an inspection of WeChat Pay in late 2021. The payments network allegedly permitted the transfer and laundering of funds from illicit transactions, it said

Paytm Shares Plunge After RBI Bars New Customer Sign-ups
China Covid Curbs Hit Shenzhen-Based Apple Supplier Foxconn
SoftBank Sold $1 Billion Stake in Korea’s Coupang
Elon Musk Sees Major Inflation Risks at Tesla, SpaceX
China’s ZTE Faces Court for Possible US Probation Violation
5G Expands to More Affordable Phones as Chip Prices Fall – WSJ
Robotic Birds Used to Train Birds of Prey for the Wild – The Age

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