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Apple has airlifted 1.5 million iPhones from India to the U.S. to circumvent high tariffs imposed by the Trump administration on imports from China. The company expedited customs clearance at Chennai airport and increased production by extending operations at its Foxconn factory to Sundays. This strategic move highlights India's growing role in Apple's manufacturing as the company diversifies away from China.
ShopUp and Sary have merged to create SILQ Group, backed by $110 million in funding from investors including Sanabil Investments and Valar Ventures. This new entity will operate regionally while maintaining original brand identities and aims to expand into Qatar, targeting a projected $682 billion trade corridor. With over $5 billion in transactions and 600,000 clients, SILQ will also launch SILQ Financial to enhance embedded finance solutions for small businesses in the Gulf and South Asia.
Chinese sellers on Amazon are facing significant challenges due to tariffs imposed by the Trump administration, prompting them to explore alternative markets. The ongoing trade tensions have forced these sellers to adapt their strategies in order to maintain competitiveness and profitability.
Indian logistics startup Xindus has secured $10 million in a Series A funding round led by 3one4 Capital, with participation from Orios Venture Partners, Shastra VC, and Caret Capital. Founded in 2022, Xindus offers a comprehensive platform for SMEs in global trade, targeting sectors like fashion and wellness, and aims to increase its gross merchandise value from $30 million to $200 million over the next 12 to 18 months. This investment reflects a growing trend in India's logistics sector, driven by rising export ambitions and the increasing importance of efficient logistics solutions for SMEs.
[Bloomberg]
Tesla's stock surged 18% to nearly $262 per share following President Trump's announcement of a pause on most tariff hikes, although tariffs on China remain at 125%. CEO Elon Musk has criticized tariff policies, advocating for zero tariffs between Europe and North America, while the company faces challenges from local competitors in China and the impact of political controversies on its brand and sales.
Luxshare is considering relocating more production outside China due to US tariffs, with potential investments in the US market. While the tariffs have limited profit impact, localizing production could benefit US customers. The company is also evaluating investments in Southeast Asia, though challenges remain in shifting production due to China's established supply chain and technical expertise.
Samsung's semiconductor unit has denied rumors of halting partnerships with Chinese clients, asserting that its foundry business operates normally. This clarification comes amid concerns over US export restrictions and competition with TSMC, as Samsung aims to strengthen its client relationships in a challenging market.
SILQ, a B2B platform formed from the merger of Saudi's Sary and Bangladesh's ShopUp, has raised $110 million in a funding round led by Valar Ventures and Sanabil Investments. The company aims to enhance procurement for SMEs in emerging markets and plans an IPO by 2027, leveraging its cross-market operations in Asia and the Middle East. The investment highlights increasing interest from Gulf sovereign funds in tech and digital infrastructure supporting small businesses.
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Apple airlifts 1.5 million iPhones from India to avoid US tariffs
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11:42 10.04.2025
shopup and sary merge to create silq with 110 million funding
11:05 10.04.2025
Chinese Amazon sellers face challenges from Trump tariffs and explore new markets
09:49 10.04.2025
India's Xindus secures 10 million dollars in series A funding round
09:21 10.04.2025
Walmart anticipates e-commerce profitability after significant investments and marketplace expansion
07:00 10.04.2025
Tesla stock surges 18 percent as Trump pauses tariff increases
06:43 10.04.2025
Amazon cancels orders from Asia amid new US tariffs impacting vendors
luxshare considers production shift amid us tariffs and rising costs
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05:10 10.04.2025
samsung reaffirms partnerships in china amid us export restrictions concerns
03:40 10.04.2025
SILQ secures 110 million funding to enhance B2B digital procurement platform
02:00 10.04.2025
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