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On August 6th, following the nationwide first negative list case in the field of artificial intelligence and the subsequent implementation of industry benchmark projects such as Sanofi, Merck, and Ausnutria on August 3rd, the Beijing branch of Nonghyup Bank of Korea became the first benchmark enterprise in the national banking industry to achieve compliant data export through the negative list. Its data export path has shifted from the standard contract filing model to a safe, orderly, and free flow under negative list management, providing a replicable and scalable "Beijing solution" for the banking industry to regulate cross-border data flows. Next, Beijing CBD will continue to deepen the application of data cross-border institutional innovation achievements, continuously optimize service processes, improve implementation efficiency, attract more global industry leaders to establish operations, and strive to build a premier national hub for data cross-border facilitation. This will contribute to the construction of Beijings "two zones" (referring to the Beijing Economic-Technological Development Area and the Beijing Special Economic Zone) with a higher level of openness, injecting strong momentum into the capitals high-quality development.Eurozone June retail sales figures will be released in ten minutes.Saudi Arabia set the official selling price for its Arab Light crude oil shipments to Northwest Europe in September at a discount of $2.15 per barrel to the ICE Brent settlement price.A Reuters poll shows that short bets on the Indian rupee have fallen to their lowest level since mid-July 2025.According to Japans Kyodo News, Toyota will suspend 17 production lines at nine factories in Japan on Friday due to the approaching typhoon.

Samsung Elec expects mobile and PC chip demand to decrease in the second quarter

Aria Thomas

Jul 28, 2022 11:15

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Due to robust sales of server memory chips, Samsung Electronics Co., Ltd. reported a 12 percent increase in quarterly earnings on Thursday. As macroeconomic uncertainty lingers, the business forecasts that demand for mobile and PC processors will continue to fall.


According to the world's largest manufacturer of memory chips for cell phones, operating profit increased to 14.1 trillion won ($10.8 billion) for the quarter ending June 30, up from 12.57 trillion won a year ago. This is the company's best profit for any quarter since 2014, and its highest profit for the second quarter since 2018.


In addition, the company's earnings exceeded its own projections of 14 trillion won.


The rise in revenue was 21%, amounting to 77,2 trillion won.


A strong dollar, which reached a 20-year high, also aided chip earnings, increasing Samsung (KS:005930 operational profit )'s by around 1.3 trillion won from the previous quarter.


The majority of Samsung's chip sales are handled in U.S. dollars, but the business reports profitability in Korean won; hence, a strong U.S. dollar boosts earnings from semiconductors.


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