Acer expects enterprise to slip — layoffs are ‘final resort,’ says CEO

Taiwanese electronics firm Acer expects enterprise to proceed sliding within the first half of 2023, however worker dismissals are a final resort, CEO Jason Chen advised CNBC’s Sri Jegarajah on the sidelines of APEC.

“We foresee the primary half of 2023 will proceed to slip, will proceed to say no,” Chen mentioned, including that he estimated the PC market will backside in the midst of subsequent yr.

Acer just lately posted a 20% decline in third quarter income in comparison with final yr.

Nevertheless, the CEO mentioned the corporate will not be stricken by problems with provide scarcity, and that Acer is targeted on depleting stock as quickly as doable.

“Layoffs [are] the final resort we have now now,” mentioned Chen, who voiced he’s extra in favor of saving on working bills.

— Lee Ying Shan

Blinken says addressing Ukraine conflict penalties is essential focus of APEC

Antony Blinken, United States Secretary of State speaks to the media in the course of the APEC 2022 held at Queen Sirikit Nationwide Conference Centre (QSNCC) in Bangkok. (Picture by Varuth Pongsapipatt/SOPA Photographs/LightRocket by way of Getty Photographs)

Sopa Photographs | Lightrocket | Getty Photographs

Addressing the implications of the Ukraine conflict on world financial challenges is a key focus of APEC’s assembly, U.S. Secretary of State Antony Blinken mentioned Thursday.

“Individuals in each APEC economic system are combating the worldwide financial challenges which were exacerbated by Russia’s conflict. Addressing these penalties collectively was a key focus of our conferences right here in Bangkok,” he advised journalists.

The IMF beforehand issued warnings on the fragmentation of the worldwide economic system on account of the conflict on Ukraine, and trimmed 2023 progress forecasts to 2.7% — predicting a slowdown from an anticipated 3.2% in 2022.

Blinken hailed Thailand’s “distinctive management” in directing the APEC bloc by difficult occasions, in addition to the nation’s efforts to make sure environmental sustainability is core at each dialogue.

“The USA is dedicated to constructing on these and different areas of Thailand’s management after we take over the presidency of APEC subsequent yr,” he added. “Our focus can be on making a resilient and sustainable future for all by constructing a area that’s extra interconnected, extra revolutionary, and extra inclusive.”

— Lee Ying Shan

Diplomats make final push for Ukraine disaster at APEC assembly

After ASEAN and G-20 conferences, the doable spillover of the conflict in Ukraine into Europe’s jap flank looms giant over the two-day APEC summit.

The assembly of world leaders within the Thai capital of Bangkok might be the final likelihood in a latest flurry of diplomatic efforts within the area to try to discover consensus to forge a path towards peace talks between Russia and Ukraine.

“How will we assist carry all of the events within the battle right here to the desk and attempt to discover a answer? We have to get to that time as quickly as we will,” Kasemsit Pathosak, government director of the APEC CEO Summit advised CNBC.

Attendees for the group’s first in-person summit in 4 years embrace Chinese language President Xi Jinping, U.S. Vice President Kamala Harris, Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi. Main stakeholders like U.S. President Joe Biden and his Russian counterpart Vladimir Putin will not be there.

— Lee Ying Shan, Sri Jegarajah

China’s Xi cautions in opposition to ‘huge energy contest’ in Asia-Pacific

China’s president, Xi Jinping, warned in a written keynote speech Thursday in opposition to the weaponization of financial relations and turning the Asia-Pacific area into an influence competitors.

“Any try to politicize and weaponize financial and commerce relations must also be rejected by all,” mentioned the president, who cautioned that the Asia-Pacific space shouldn’t turn out to be an “area for large energy contest.”

His remarks come on the heels of the heightened rivalry between the U.S. and China for affect within the area.

The president added that China is dedicated to selling the “stability and prosperity” of the realm. He acknowledged how economies have been contending with provide chain disruptions as properly power and meals provide points.

“”Openness brings progress whereas closing the door can depart one behind. Any try to disrupt and even dismantle the economic and provide chains fashioned within the Asia-Pacific over a few years will solely lead Asia-Pacific financial cooperation to a useless finish.”

— Lee Ying Shan

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