A woman checks her phone while passing by a billboard advertising a Samsung smartphone in Berlin. PHOTO: AFP
SEOUL (BERNAMA) – Samsung Electronics Co said yesterday it has begun mass production of its latest industry-leading solid-state drive (SSD) product optimal for usage in powerful artificial intelligence (AI) personal computers.
Samsung said the PM9E1 SSD, which boasts the industry’s highest performance and largest capacity, is built on its in-house 5-nanometre-based controller and eighth-generation V-NAND technology. Yonhap news agency reported the company said the PM9E1 will provide powerful performance and enhanced power efficiency, making it an optimal solution for on-device AI PCs.
Key attributes have all been improved compared with its predecessor.
Starting with the PM9E1, Samsung plans to expand its advanced SSD offerings to global PC makers and expects to launch consumer products based on the product in the future to solidify its market leadership.
“Our PM9E1 integrated with a 5nm controller delivers industry-leading power efficiency and utmost performance validated by our key partners,” said Samsung’s Executive Vice President of Memory Product Planning Bae Yong-cheol.
A woman checks her phone while passing by a billboard advertising a Samsung smartphone in Berlin. PHOTO: AFP
SINGAPORE (XINHUA) – Retail sales in Singapore rose 0.6 per cent year-on-year in August, following the one-per-cent growth in July, the Department of Statistics said yesterday.
Motor vehicle sales grew 17 per cent in August from a year earlier. Excluding motor vehicles, retail sales fell 1.5 per cent.
HANOI (XINHUA) – Vietnam exported USD7.16 billion worth of fishery products from January to September, up 8.5 per cent year-on-year, local media cited the Vietnam Association of Seafood Exporters and Producers.
Shrimp reported the highest export value with USD2.8 billion, up 10.5 per cent year-on-year while tra fish exports rose eight per cent to USD1.46 billion during the cited period.
Tuna export, which was strong earlier in the year, has slowed since August.
JAKARTA (XINHUA) – The construction of a solar panel plant in Kendal, Central Java, has reached 90 per cent completion, and operations are expected to begin by the end of 2024, with a first-phase production capacity of one-gigawatt peak.
The solar panel plant is being developed by PT Daya Sukses Makmur Selaras, a subsidiary of Sinar Mas Group, with an investment of over USD100 million.
“This factory development aims to support the government’s target of 178 gigawatts of installed solar panels by 2060,” said Secretary of the national energy council Djoko Siswanto on Thursday.
Managing Director of Sinar Mas Ferry Salman added that the factory’s capacity will be increased further over the next two years, with a peak of three gigawatts.
The Indonesian government recently established the Indonesia Solar Energy Research Centre to promote the development of solar technology and human resources, while simultaneously expediting plans to export power to Singapore.
The research institute is a collaboration between the Indonesian Engineers Association, the National Research and Innovation Agency, the Bandung Institute of Technology, the University of Indonesia, Gadjah Mada University, the Institute of Technology Indonesia and the Solar Energy Research Institute of Singapore.
In September, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan stated that Indonesia will export electricity to Singapore from a solar power plant with a capacity of 3.4 gigawatts. This agreement has an investment value of USD20 billion.
MANILA (XINHUA) – The Philippines’ annual inflation rate eased to a four-year low of 1.9 per cent in September from 3.3 per cent in August, marking the lowest level since May 2020, the Philippine Statistics Authority (PSA) said yesterday.
“This is the lowest inflation rate since the 1.6 per cent rate recorded in May 2020,” PSA Chief Dennis Mapa told a news conference.
Mapa said the main drivers of the downward trend of headline inflation in September were food and non-alcoholic beverages, which fell to 1.4 per cent from 3.9 per cent in August.
Mapa added that transport also contributed to the downtrend, with a faster year-on-year decrease of 2.4 per cent during the month compared to a 0.2 per cent annual drop in August. The PSA chief said the core inflation, which excludes selected food and energy items, slowed to 2.4 per cent in September from 2.6 per cent in August. In September 2023, core inflation was higher at 5.9 per cent.
The decline in the September inflation rate brings the national average inflation from January to September to 3.4 per cent, within the government’s target range of two per cent to four per cent. In September 2023, the inflation rate was higher at 6.1 per cent.
National Economic and Development Authority Secretary Arsenio Balisacan said the continued slowdown in inflation “is expected to boost consumer confidence, drive higher spending and consumption, and fuel business expansion”.
HANOI (XINHUA) – Vietnam’s coffee exports brought home nearly USD4.4 billion in the first nine months of this year, exceeding the turnover of the whole 2023, VnExpress reported yesterday, citing the Ministry of Agriculture and Rural Development.
The nine-month figure went up 40 per cent compared to the same period last year thanks to high prices of exported coffee.
Vietnam’s exported coffee was sold averagely at the all-time high of USD5,469 per tonne in September.
From January to September, the price was reported at USD3,897 per tonne, an increase of 56 per cent year-on-year.
Among Vietnam’s main export items, coffee has emerged as the agricultural product with the biggest increase in export prices, said the report.
According to the Vietnam Coffee and Cocoa Association, the Southeast Asian country is predicted to face numerous challenges in the 2024-2025 crop due to unfavourable weather conditions. Coffee output is expected to decrease by five-15 per cent.
The ministry still forecasts that coffee export turnover this year will exceed USD5 billion, even USD6 billion thanks to high prices.
Real Madrid’s Italian coach Carlo Ancelotti looks on during a training session. PHOTO: AFP
BARCELONA (AFP) – Reigning Spanish and European champions Real Madrid have started the season below their brilliant best and this week finally tumbled to a first defeat since January.
Carlo Ancelotti’s side were beaten at Lille in the Champions League on Wednesday and trail Hansi Flick’s Barcelona by three points in La Liga.
Madrid host Villarreal today aiming to pull level on points with their Catalan rivals at the top of the table for the first time this season.
Los Blancos began the campaign with a draw at Mallorca on the first day of the season and have been playing catch-up since then.
Barca won their first seven matches in a row but finally stumbled last weekend at Osasuna.
Real Madrid’s Italian coach Carlo Ancelotti looks on during a training session. PHOTO: AFP
Madrid could not take full advantage as they were held to a 1-1 draw by neighbours Atletico Madrid, but can put pressure on Barca, who visit Alaves tomorrow, with a victory at the Santiago Bernabeu.
To achieve that against an enterprising Villarreal side just a point behind Madrid in third, they will have to raise their game significantly.
Madrid came undone in the north of France, suffering their first loss in 37 matches across all competitions.
“When we lost the derby (against Atletico) last year it was a fantastic wake-up call and hopefully this defeat can also be a fantastic wake-up call,” said Ancelotti.
“We did everything wrong – with the ball, transitions, the intensity, we lost the duels… we have to look at things with a cool head and not throw everything away, but we have to improve.”
Madrid were able to bring on Kylian Mbappe against Lille after a thigh injury and the French striker could start against Villarreal.
As strong as the Yellow Submarine have been, spearheaded by Spain international Ayoze Perez, they have conceded in every match so far this season.
Madrid still seem to be struggling without midfield maestro Toni Kroos, who retired after helping the team to a La Liga and Champions League double.
Los Blancos will also line up with Ukrainian goalkeeper Andre Lunin between the sticks with Thibaut Courtois out injured. “We have to analyse and improve in the next game because there is no time – there are many games and we have to win,” said Lunin after the Lille defeat.
Villarreal may be without Perez, who missed Monday’s win over Las Palmas with muscular discomfort and Gerard Moreno is also sidelined, but striker Thierno Barry is finding form for Marcelino Garcia Toral’s side.
The French striker scored and got an assist as Villarreal moved up to third with the 3-1 win.
Girona and Atletico Madrid also suffered Champions League defeats on Wednesday and both are in action on Sunday, against tricky Basque sides Athletic Bilbao and Real Sociedad respectively.
A palm oil farmer transporting palm oil seeds in Kampar, Riau province, Indonesia. PHOTO: AFP
BANGKOK (AFP) – Producers from Malaysia’s palm oil industry to Vietnam’s coffee sector on Thursday welcomed a European Union (EU) decision to delay implementation of its anti-deforestation rules.
The year-long delay triggered immediate outcry from environmental groups, but the legislation had faced substantial pushback from many governments and industries.
They criticised the law, which intended to prevent the import of products that drive deforestation, for confusing rules and complex documentation requirements that they said would particularly burden small-scale farmers.
The EU’s decision to delay was a relief, said chair of the Buon Ma Thuot Coffee Association Trinh Duc Minh.
“The extension of the timeline is necessary and reasonable,” he told AFP, though he noted coffee prices that rose as companies stockpiled before the deadline might now drop.
Head of Vietnamese coffee exporter An Thai Group Nguyen Xuan Loi also hailed the news as a “positive move”.
“In reality, Vietnam has been strictly managing deforestation issues,” he told AFP.
“There are hardly any violations anymore.”
Global Forest Watch said Vietnam’s primary forest loss has fallen from a peak in 2016, but the country still lost about 16,500 hectares in 2023, with commodity-driven deforestation a leading cause.
EU imports accounted for 16 per cent of deforestation linked to global trade in 2017, according to World Wide Fund for Nature.
When the law was adopted in 2023 it was hailed as a major breakthrough to protect nature and the climate.
It requires exporters of cocoa, soy, timber, cattle, palm oil, rubber, coffee – and items derived from those products – to certify their goods were not produced on land deforested after December 2020.
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Countries including Malaysia and Indonesia have vocally opposed the new rules and the chorus of criticism grew louder as the December implementation deadline neared, with Brazil and the United States among those voicing concern.
Malaysia’s Palm Oil Council welcomed the proposed delay as a “victory for common sense”.
The decision is a “welcome relief for all those businesses who highlighted the need for a delay,” the body’s head Belvinder Kaur Sron said.
“Malaysia has over the past two years consistently provided evidence… that the implementation date of December 30 was unworkable, and the EU systems were not ready,” the council added in a statement.
It called for the EU to address outstanding demands, including exemptions for smallholders, clear benchmarking criteria and accepting Malaysia’s sustainable palm oil standard.
A palm oil farmer transporting palm oil seeds in Kampar, Riau province, Indonesia. PHOTO: AFP
Bayern Munich’s midfielder Joshua Kimmich, forward Harry Kane and midfielder Leon Goretzka. PHOTO: AFP
BERLIN (AFP) – Bayern Munich travel to bogey side Eintracht Frankfurt tomorrow looking to rebound having dropped points twice in the space of a week.
The Bavarians opened the season under Vincent Kompany with six straight wins, but were held to a 1-1 draw at home by champions Bayer Leverkusen last Sunday and then lost 1-0 at Aston Villa in the Champions League on Wednesday.
Frankfurt’s excellent start to the season means they sit just one point behind Bayern, who sit atop the Bundesliga table.
Bayern’s recent history with Frankfurt is remarkably even. In their past seven games each side have won three, with one draw.
In the corresponding fixture last season, Frankfurt dealt the previously unbeaten Bayern a telling blow, winning 5-1 to expose the vulnerabilities in a side which finished the season trophyless.
Bayern Munich’s midfielder Joshua Kimmich, forward Harry Kane and midfielder Leon Goretzka. PHOTO: AFP
The duels have been as unpredictable as they have been entertaining, often with off-field consequences.
Frankfurt upset Munich 3-1 to lift the German Cup in 2018 – after which Bayern poached Eagles’ coach Niko Kovac.
Kovac’s time at Bayern was an unhappy one however and eventually came to an end in November 2019, after Frankfurt unleashed a 5-1 thrashing on the German giants.
In the 14 clashes since that cup final, one side has scored five or more goals seven times.
While Bayern’s status as Germany’s big cheese is unquestioned, Frankfurt have quietly improved on and off the park in recent decades.
Bayern and Frankfurt are the only two German sides to have won a European trophy this century.
Frankfurt have played in three of the past eight German Cup finals, the same as Bayern and one more than powerhouses Borussia Dortmund.
The sides’ two top goalscorers are also neck and neck. Frankfurt’s Omar Marmoush leads the league with six goals, followed by Harry Kane who has five.
Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. PHOTO: AP
LONDON (AFP) – Oil prices rose further yesterday as tensions mount in the Middle East, while Hong Kong’s stock markets resumed a rally caused by China’s recently-announced measures to stimulate its economy.
Europe’s main equity indices diverged nearing the half-way stage, with London weighed down by a rebounding pound alongside gains for Paris and Frankfurt.
The dollar was mixed against its main rivals as traders awaited key US jobs data that could give a clearer idea of the pace of planned interest-rate cuts from the Federal Reserve.
“Oil prices continued their ascent,” noted investment director at trading group AJ Bell Russ Mould, as Brent North Sea crude and the main US contract each gained about one per cent.
“This is good news for oil producers but bad news for millions of companies and consumers as they face higher energy and transport costs,” he added.
Buyers of company shares were back in the driving seat in Hong Kong, after a pause on Thursday to the rally that started last week thanks to Beijing unveiling a raft of economy-boosting measures.
The stimulus – mainly targeting the property sector – has seen stocks in the city and mainland China enjoy a blistering run of more than 20 per cent on hopes that Beijing can finally reignite growth.
Hong Kong’s Hang Seng Index closed up almost three per cent yesterday, with tech firms leading the charge, while developers – who have seen eye-watering gains over the past week – fluctuated as investors awaited cues from China.
Mainland Chinese markets were closed for the Golden Week holiday.
There were also gains in Tokyo at the end of a rollercoaster week dictated by a volatile yen after the election of Shigeru Ishiba as prime minister.
“Investors are likely to remain on edge as they weigh the evolving monetary policy signals from Japan against shifting geopolitical developments,” said ACY Securities currency analyst Luca Santos.
Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. PHOTO: AP
