Hesai Group, the world’s largest maker of lidar sensors for vehicles, has launched a 3D spatial camera as it expands into physical artificial intelligence in search of new growth opportunities. The handheld device, called Kosmo, is described by Hesai as a “physical AI eye” and converts real-world environments into detailed, editable 3D models. The company said it was designed to standardise the digitisation of complex spaces such as campuses and factories. “Our interesting new products, which...

Joseph Montes de Claro visited the Department of Information and Communications Technology (DICT) headquarters in Quezon City on Wednesday after he was appointed as its new secretary.

Yangtze Memory Technologies Corporation (YMTC), China’s leading flash-memory maker, is set to grow revenue six times faster than its industry peers this year as it expands into server-related business ahead of a planned initial public offering (IPO), according to Counterpoint Research. The company’s server-related revenue was effectively zero in 2024, but could account for nearly 39 per cent of its revenue by 2028, according to the market intelligence firm on Tuesday. Much of the momentum is...

The International Monetary Fund and World Bank on Wednesday released a framework for tackling cyber-enabled fraud.

The Philippine peso weakened for the second straight trading day on Wednesday, closing near its all-time low against the US dollar amid renewed tensions in the Middle East.

China’s integrated circuit (IC) exports surged 136 per cent year on year in September to US$45 billion, exceeding the 108 per cent growth rate in the first nine months of the year in a sign of the country’s rising influence in the global semiconductor supply chain. In September, China exported 32.7 billion units of ICs, according to customs data released on Wednesday, a 1 per cent year-on-year increase in volume. But higher prices fuelled the 136 per cent jump in value amid a memory chip...

China’s electric vehicle (EV) makers have been hit with a double blow as both Beijing and Brussels introduce measures that will affect their exports, leading analysts to revise down their earnings forecasts for the industry. The twin measures – combined with a sales decline in China’s domestic market – could create a “do-or-die moment” for some of the country’s 50-odd EV makers, ramping up financial pressure on the companies, according to industry officials. On Friday, China and the European...

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. China carmakers eye record 12 million global sales in 2026 as EV demand surges Chinese automotive groups have cause to celebrate their go-global strategy amid breakneck export growth in recent years, with deliveries in 2026 expected to beat expectations already buoyed by an...

The Development Bank of the Philippines (DBP) on Wednesday maintained that it had “satisfactorily addressed” audit findings on its contractor lending program, after state auditors flagged P4.09 billion in past-due loans under the Build, Build, Build program.

Chinese investors are gearing up for a speech next week by the chief of the securities watchdog for clues on how Beijing will ramp up support for the country’s stock market after its latest efforts did little to bolster sentiment. Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), is due to deliver a keynote speech at the Financial Street Forum in Beijing on Monday. Other top financial regulators including central bank governor Pan Gongsheng will also address the four-day...

Developer Golden TW Realty and Development Corp. has committed about P3 billion worth of investments in its integrated casino-resort, KABAN Boracay, and its surrounding shopping complex on the world-famous island destination.

Maynilad Water Services Inc. said on Wednesday it is stepping up preparations for Super El Niño, citing reduced water losses and diversified supply sources that helped it maintain uninterrupted service despite tighter water supply conditions earlier this year.

Participants in Hong Kong’s stock market may need to wait longer for shorter transaction settlement times, as market participants want more time to prepare for the change, according to two sources familiar with the matter. Bourse operator Hong Kong Exchanges and Clearing (HKEX) said in a consultation paper in April that it aimed to implement a so-called T+1 system – under which trades would be settled one day after transactions – in the fourth quarter of 2027, replacing the existing T+2...

Palay (unhusked rice) production in the third quarter of 2026 is estimated to have further decreased, according to the latest figures by the Philippine Statistics Authority (PSA).

The Department of Labor and Employment (DOLE) on Wednesday reminded employers to comply with the new minimum wage rates as the P42 daily wage increase in Central Visayas takes effect on October 14.

The Philippines' soybean meal importation is forecast to rise by 10% in the marketing year (MY) 2026 to 2027 due to higher demand in the poultry sector, the United States Department of Agriculture (USDA) said.

Chinese companies are surging overseas, taking advantage of robust supply chains and technological prowess to win sales in countries offering bigger margins than the saturated domestic market. ByteDance, Shein and BYD are among the major players opening factories, sales centres or research hubs internationally in a bid to win customers worldwide. The SCMP Plus 2026 Going Global 100 tracks the leaders in this overseas push, and breaks down the strategic Chuhai or “going global” wave. Explore the...

LVMH, the world’s largest luxury goods group, has attributed an Asia sales drop in the third quarter – the only regional decline the company reported – to, in part, a slowdown in Chinese demand. The Louis Vuitton, Dior, Bulgari and Fendi parent group said Asia took a hit from a sharp macro-led deterioration in Chinese consumer sentiment, with tangible impact on discretionary expenses, the group said during an earnings call session on Monday. The fall in demand coincided with a string of...

[The content of this article has been produced by our advertising partner.] Hong Kong will be able to flex its growing strength and influence as a major international financial centre when the city stages the Asia-Pacific Economic Cooperation (APEC) 2026 Finance Ministers’ Meeting (FMM) for the first time, from October 20 to 21. For the city’s Financial Secretary Paul Chan Mo-po, it is an opportunity to “showcase Hong Kong’s comprehensive development in the economic, financial and social...

Consunji-led Semirara Mining and Power Corporation (SMPC) has criticized what it described as a sudden change in the bidding rules for the Semirara Island coal mines, saying the new guidelines prioritize the highest financial offer over technical capability and mining experience.

Anyone who has spent time on the internet researching goods and doing lengthy price comparisons will be intrigued by developments in the use of artificial intelligence (AI) for agentic commerce. This new form of online shopping involves AI-powered agents – autonomous software systems that use reasoning, memory and external tools to complete multi-step tasks across different sites and platforms on their own. They can carry out each stage of the buying process, from the initial search to comparing...

House approves Cebu Pacific's 50-year franchise to operate

MANILA, Philippines — The Department of Agriculture (DA) is ramping up purple yam (ube) production in Cagayan Valley to unlock more export opportunities amid surging global demand. Through its regional office in Cagayan Valley, the DA initially targets 100 hectares of farmland in Isabela for ube production and plans to expand to 500 hectares by

MANILA, Philippines — The Philippine Coconut Authority (PCA) has partnered with the Sustainable Coconut Partnership (SCP) to improve coconut farming in Davao and the Bicol Region. Both parties signed a memorandum of understanding (MOU) to establish a framework focusing on farm productivity and sustainable agricultural practices, providing long-term economic opportunities for coconut farmers and their

MANILA, Philippines — The International Monetary Fund (IMF) said the Philippines will likely lag behind most of its emerging and developing Asian peers this year as policymakers struggle to control inflation without further slowing economic growth. In its latest World Economic Outlook, released Tuesday, the Washington-based lender cut its 2026 growth forecast for the Philippines

MANILA, Philippines — Provincial governments will adopt six-year development plans under a new framework rolled out by the Department of Economy, Planning, and Development (DEPDev) to align local development priorities, public investments, and budgets. Launched on Tuesday, the Provincial Development Planning (ProvDP) Framework will guide provinces in setting their desired development outcomes, sector goals and

MANILA, Philippines — The global boom in artificial intelligence (AI) could give the Philippines a chance to narrow its gap with faster-growing Asian semiconductor exporters, as rising demand for advanced chips and more diversified supply chains open the door to new investments. That is according to logistics giant FedEx and Frost & Sullivan, which, in a

MANILA, Philippines — Net foreign direct investment (FDI) inflows to the Philippines rose to a six-month high in July, though investor sentiment remained subdued amid economic uncertainties at home and abroad. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed FDI inflows outpaced outflows by $689 million during the month, the highest since January’s net

MANILA, Philippines — The Philippines is expected to post narrower dollar deficits this year and in 2027 than previously forecast, as stronger exports fueled by the global artificial intelligence boom bolster foreign exchange inflows, the Bangko Sentral ng Pilipinas (BSP) said. The central bank projected a balance of payments (BoP) deficit of $9.2 billion by year-end,

MANILA, Philippines — Filipinos will still be allowed to buy and sell their personal used mobile devices without securing government permits under proposed regulations covering the commercial trade of refurbished phones, the National Telecommunications Commission (NTC) clarified. On Tuesday, the regulator said its draft rules on the importation and sale of refurbished mobile devices would