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A delegation of Indian electricals and industrial electronics companies visited the Philippines to strengthen bilateral ties, explore business opportunities, share knowledge, promote sustainability, and invest in future growth. The visit aimed to foster collaboration, leverage expertise, and drive innovation for both nations' industries.

A new project called Worldcoin is using iris scans to create a new identity and financial network. The company claims that its iris scans are more secure than other biometric identifiers, such as fingerprints or facial scans. The project has been met with mixed reactions, with some people concerned about the privacy implications of having their irises scanned. However, the company has raised over $25 million in funding and is reportedly in talks with major tech companies about partnerships.

Batteries are essential for our modern lives, but they also contain valuable materials that can be recycled. Currently, China dominates the global battery recycling market, but the Biden Administration's climate technology subsidies have spurred investment in U.S. battery recycling. There are a number of companies that are working to develop new technologies for battery recycling, such as hydrometallurgy and pyrometallurgy. The development of new battery recycling technologies is essential for the future of the battery industry, as the demand for batteries continues to grow.

Vietnam's power management industry is experiencing significant growth due to the increasing demand for high-efficiency solutions driven by the rise of electric vehicles and 5G networks. The country's strong manufacturing base and a growing pool of skilled engineers position Vietnam to capitalize on these emerging opportunities. With the power management industry projected to grow by 10% year-over-year in July 2023, Vietnam is well-prepared to meet the demands of various sectors, including EVs, 5G networks, data centers, industrial automation, and medical devices.

TSMC is seeing an increase in orders from China-based AI chip suppliers, despite the ongoing trade war between the two countries. This is a sign that the Chinese government is continuing to invest in the development of AI technology. The increase in orders is also a challenge for TSMC, as the company is already facing capacity constraints. However, TSMC is well-positioned to benefit from the growth of the AI market. The company's ability to meet the growing demand from China will be a key factor in its future success.

India is preparing to launch a moon mission that could solidify its position as a space power. The mission, called Chandrayaan-3, will attempt to land a rover on the unexplored lunar south pole. The launch is a sign of India's growing ambitions in space and could have a positive impact on the Indian economy.

The Comprehensive Automotive Resurgence Strategy (CARS) program has been a lifeline for the Philippine automotive industry. The program has helped to create 100,000 jobs and increase the localization rate of car manufacturing to 40%. The government is currently considering extending the program for another five years, but there are a number of factors to consider, such as the state of the automotive industry, the availability of funding, and the potential impact on the environment.

Megaworld Corporation, a leading real estate developer in the Philippines, has opened the Township Analytics and Technology Lab (TAT Lab) in Taguig City. The lab uses data science and AI to enhance safety, sustainability, resident experience, and business optimization in Megaworld townships. This initiative reflects Megaworld's commitment to becoming a more data-driven company and sets a precedent for other real estate developers. Data science and AI offer benefits like improved decision-making, increased efficiency, and enhanced customer service in the industry.
 

Japan's JSR Corporation has agreed to acquire a majority stake in Dutch photoresist manufacturer ASMI Holding for $6.3 billion. The deal will give JSR a strong foothold in the lithography market and access to ASMI's cutting-edge technology. The acquisition is seen as a way for JSR to secure its supply chain and meet the growing demand for semiconductors.

The Department of Trade and Industry (DTI) expects the continued growth of electronics exports in the Philippines. In May, the value of electronics exports increased by 6.7% compared to the previous year, driven by global demand for semiconductors and electronic components. The Philippines' strong manufacturing sector contributes to this growth. Trade Secretary Alfredo Pascual is optimistic about sustained growth and aims to attract more foreign investment in the electronics manufacturing sector. Electronics exports accounted for 57.5% of the country's total exports in 2022 and employ over 1 million people. Factors such as the global economy's growth, increasing demand for electronic products, competitive labor costs, and strategic location further support sustained growth. The DTI is confident in the industry's future and is working to foster an investment-friendly environment.