Sharp

Japan's Sharp returns to profit for April-June quarter

Tokyo - AFP

Japanese electronics maker Sharp said Friday it swung back to profit for the three months to June thanks to cost-cutting efforts under Taiwan's Hon Hai. The Taiwanese company, better known as Foxconn, last August acquired the Japanese industrial mainstay which had been pummelled by huge losses and mounting debts, taking a 66 percent stake for $3.7 billion. The first foreignRead more

$6.7bn needed for Mideast strategic response plan

Cairo - Arab Today

The UN Office for the Coordination of Humanitarian Affairs (OCHA) said the 2017 Strategic Response Plan for the Middle East and North Africa (MENA) region requests 6.7 billion dollars to help five main countries, namely, Afghanistan, Palestine, Iraq, Syria and Yemen. Only five percent of these funds are secured through financial contributions of five MENA countries, the OCHA office saidRead more

Foxconn to start work on $9 billion Chinese TV display plant

Tokyo - Arab Today

Foxconn Technology Group will begin construction this month on a $9 billion display plant in southern China, as billionaire founder Terry Gou makes a big bet on demand for giant-sized TV screens in healthcare and homes. Gou and the Taiwanese company are looking to capitalise on the technology and branding acquired with the purchase of Sharp Corp. last year. Foxconn, whoseRead more

Apple-supplier Foxconn weighs $7 billion US display plant

Hong Kong - Arab Today

Foxconn Technology Group is considering building a US display-making facility for upwards of $7 billion, a major investment for Apple’s main manufacturer that may create tens of thousands of American jobs during President Donald Trump’s first year in office. The company is considering a joint investment with Sharp, the Japanese display supplier it bought last year, but details have yetRead more

Bank of England sees no clear signs of sharp Brexit hit yet

London - Arab Today

The Bank of England said on Wednesday it had seen no clear signs yet of a sharp economic slowdown after last month's vote to leave the European Union, raising questions over how aggressively it will act to boost the economy when it meets next month. The BoE's regional agents, who speak regularly with companies, said business uncertainty had risen markedlyRead more

US Stocks End Low on Monday

New York - QNA

US stocks posted a second sharp daily loss Monday as investors continued to dump assets perceived as risky in the wake of the UK's vote last week to leave the European Union. The S&P 500 SPX, -1.81% closed 36.87 points lower, a loss of 1.8%, at 2,000.55. The Dow Jones Industrial Average DJIA, -1.50% dropped 260.51 points, or 1.5%,Read more

Sharp posts full-year loss; Hon Hai executive to take helm

Tokyo - AFP

Japanese electronics maker Sharp said Thursday it suffered a $2.3 billion annual loss and released no forecast for the current business year as it assesses the impact of its acquisition by Taiwan's Hon Hai. The company also said that an executive from Hon Hai, the world's biggest electronics supplier, will take over as president. In March, Sharp agreed to theRead more

Hon Hai's fourth quarter net profit dips as smatphone demand slows

Taipei - AFP

Taiwan's tech giant Hon Hai said net profit dipped in the fourth quarter, hit by a slowdown in demand for smartphones as key customer Apple warns waning sales of its iPhone. Net income in October-December fell 6.67 percent to Tw$52.9 billion ($1.6 billion) while revenue slipped 4.69 percent, the company said in a statement Wednesday. Hon Hai -- also knownRead more

Hon Hai to meet press after board meeting as Sharp speculation swirls

Tokyo - AFP

Speculation swirled Wednesday that the boards of troubled Japanese electronics maker Sharp and Foxconn parent company Hon Hai are to imminently agree a multi-billion-dollar takeover by the Taiwanese company after a month of delays. The deal would be the first foreign acquisition of a major Japanese electronics firm if the two companies sign the deal on Thursday as reported. TheRead more