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Real-time News
Xiaomi Auto: By April 2026, deliveries will exceed 30,000 units.India is poised for a scorching summer, with conditions expected to persist until the monsoon rains arrive in June. This comes at a time when the country is facing energy shortages, and the extreme heat has already strained its power grid. The Indian Meteorological Department will release its May weather forecast on Friday, following its March prediction of an unusually high number of hot days this year, which it subsequently warned of. The latest forecast will cover what is typically the hottest period of the year. India is already facing shortages of crude oil, liquefied natural gas, and liquefied petroleum gas due to the Iran-Iraq conflict. Meanwhile, the extreme heat is driving electricity demand to unprecedented levels, leading to frequent power outages as infrastructure and power generation systems struggle to cope.Japans final manufacturing PMI for April was 55.1, down from 54.9 in the previous month.South Koreas exports continued to surge in April, driven by semiconductor shipments, demonstrating the resilience of the trade-dependent economy despite risks from the Middle East conflict. Semiconductor shipments, which account for about a quarter of the countrys total exports, surged, fueled by demand from global tech companies building artificial intelligence infrastructure. This result highlights how AI-related demand is helping the high-tech economy weather volatility associated with the Middle East conflict. Major memory chip makers such as Samsung Electronics and SK Hynix reported record first-quarter profits and are expected to continue setting records this year, despite soaring input costs due to the conflict in Iran. South Koreas Ministry of Trade, Industry and Energy said on Friday that exports rose 48.0% year-on-year in April to $85.89 billion, with Marchs growth revised to 49.2%. Imports rose 16.7% year-on-year to $62.11 billion, resulting in a trade surplus of $23.77 billion in April. Strong memory chip shipments continued to drive export growth, offsetting weaker performance in other categories such as automobiles and steel.Tesla (TSLA.O) updated its annual report on Thursday, stating that it earned over $500 million from sales to SpaceX and xAI. Tesla disclosed in January that its business dealings with xAI were approximately $430.1 million. Thursdays updated report shows that Tesla received an additional $143.3 million from SpaceX.
