Reuters

JAKARTA (Reuters) - The head and deputy head of Indonesia's new capital city authority, who oversee the $32 billion project, have resigned, the state secretariat minister said on Monday.

The resignations come ahead of President Joko Widodo’s planned celebration at the new capital on Indonesia’s Independence day on August 17, and the scheduled transfer of thousands of civil servants this September. That plan has already been delayed several times.

By Leika Kihara

TOKYO (Reuters) - Asian factory activity expanded in May as manufacturers benefited from broadening global demand, private surveys showed on Monday, adding to hopes for sustained economic recovery in the region where China is showing early signs of rebound.

Manufacturing activity expanded in Japan for the first time in a year and in South Korea at the fastest pace in two years, due in part to hints of a pick-up in the... (continue reading...)

By Arsheeya Bajwa

TAIPEI (Reuters) - Advanced Micro Devices unveiled its latest artificial intelligence processors on Monday and detailed its plan to develop AI chips over the next two years in a bid to challenge industry leader Nvidia.

At the Computex technology trade show in Taipei, AMD CEO Lisa Su introduced the MI325X accelerator, which is set to be made available in the fourth quarter of 2024.

The race to develop... (continue reading...)

BEIJING (Reuters) - China's manufacturing activity in May grew at the fastest pace in about two years with strong production and new orders, a private sector survey showed on Monday, indicating the sector remains robust amid supportive industrial policies.

The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, marking the fastest pace since June 2022 and beating analysts' forecasts of 51.5. The 50-point mark separates... (continue reading...)

By Ankur Banerjee

SINGAPORE (Reuters) - The currency market started the week cautiously, with the dollar slightly lower on Monday after data last week showed U.S inflation had stabilised in April, keeping the door open for the Federal Reserve to cut interest rates later in the year.

The dollar posted its first monthly decline of the year in May, weighed down by shifting expectations on when the U.S. central bank will cut rates and by how... (continue reading...)