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LG Display has finalized the sale of its Guangzhou LCD production facility to TCL CSOT for approximately $1.7 billion, marking its exit from the large-size LCD market. This strategic move allows LG Display to focus on high-margin OLED and automotive displays, as Chinese manufacturers increasingly dominate the LCD sector. The Guangzhou plant, capable of producing 180,000 TV panels monthly, significantly enhances TCL's manufacturing capabilities in China.
ByteDance has reported a 29% growth, primarily driven by the success of TikTok, which has helped to counterbalance weaknesses in its Chinese operations. This performance highlights the platform's significant impact on the company's overall financial health.
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Crypto gaming experienced a mixed first quarter, characterized by a surge in deals while overall investment totals saw a decline. This trend highlights the evolving landscape of the sector, where interest remains high despite fluctuations in financial commitments.
Sellers on Amazon may increase prices for Chinese goods, according to the company's CEO. This potential price hike reflects ongoing market dynamics and could impact consumers' purchasing decisions. The situation highlights the complexities of international trade and e-commerce.
Tesla has halted new orders for its Model S and Model X in China due to escalating trade tensions and increased tariffs on U.S. imports, making these models more expensive for Chinese consumers. The company is focusing on its more affordable Model 3 and Model Y, produced locally, as it faces declining market share and stiff competition from Chinese manufacturers like BYD and Geely. This strategic pivot reflects Tesla's historical pattern of adapting to market dynamics and prioritizing higher-volume vehicles.
The UAE has signed its 27th Comprehensive Economic Partnership Agreement (CEPA) with the Republic of the Congo, advancing its strategy to lower trade barriers and enhance economic diversification. With eight agreements in force and 14 pending ratification, the UAE aims to boost non-oil foreign trade to Dhs4tn by 2031, while also engaging in talks with the EU for a potential agreement. The CEPA program, launched in September 2021, is pivotal for strengthening the UAE's global trade position and attracting foreign investment.
Myntra's Chief Product and Technology Officer, Raghu Krishnananda, has resigned after over five years, as announced in an internal memo by CEO Nandita Sinha. His departure coincides with Myntra's aggressive expansion into quick commerce through its M-Now initiative, which aims for 30-minute to two-hour fashion deliveries in Bengaluru. This leadership change follows Myntra's recent profitability milestone and reflects a broader strategic pivot within the company as it prepares for future growth and potential IPO plans.
The UAE and the European Union have launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) to strengthen trade and investment ties, focusing on sectors like renewable energy and advanced manufacturing. This initiative follows a call between UAE President Sheikh Mohamed bin Zayed Al Nahyan and EU Commission President Ursula von der Leyen, aiming to reduce tariffs and enhance market access. In 2024, non-oil trade between the UAE and the EU reached $67.6 billion, highlighting the importance of this partnership amid global economic uncertainties.
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LG Display sells Guangzhou LCD plant to TCL for 1.7 billion dollars
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08:44 11.04.2025
ByteDance reports 29 percent growth driven by TikTok performance
08:42 11.04.2025
ByteDance reports 155 billion revenue driven by TikTok's international growth
08:30 11.04.2025
crypto gaming experiences mixed results as deals increase and investments decline
08:18 11.04.2025
Amazon CEO warns of potential price increases on Chinese goods
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Tesla halts Model S and Model X orders in China amid trade tensions
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UAE expands global trade network with 27 comprehensive economic partnership agreements
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08:03 11.04.2025
Myntra's chief product and technology officer resigns amid strategic expansion efforts
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07:57 11.04.2025
Canva launches AI tools to enhance enterprise appeal and challenge Adobe
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