Asia's energy transition hobbled by '80s tech', UK software CEO says
SHOTARO TANI
TOKYO -- Asian countries will be incapable of managing the transition to renewables with existing "1980s era" technology as the energy system becomes more complex, the CEO of a leading UK energy software company has warned.
They will be "physically unable to handle the energy transition and take advantage of the new capabilities that it brings" with outdated technology, Amir Orad, CEO of energy tech platform Kraken, told Nikkei Asia.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
12 hours ago
- Nikkei Asia
US tariff deadline, BOJ monetary policy, Nintendo earnings
Welcome to Your Week in Asia. With several countries in Asia having now secured tariff deals with the U.S. -- even as details remain scarce or disputed for many of them -- the pressure is on those that haven't, with U.S. President Donald Trump's latest deadline for negotiations now just days away. The trade dislocations unleashed by Trump will be among the factors weighing on central bankers from the U.S., Singapore and Japan this week as they decide how to act on interest rates. Get the best of our coverage of Asia and much more by following us on X, where our handle is @NikkeiAsia. We are also now on Bluesky, with the handle @ MONDAY Marcos national address Philippine President Ferdinand Marcos Jr. is set to deliver his fourth State of the Nation Address, an annual event typically used to underscore the government's accomplishments and outline policy. Last year, Marcos Jr. notably condemned China's maritime aggression and ordered a ban on offshore gambling. This year, his address takes place against a backdrop of heightened domestic political turbulence and pressing economic concerns. U.S.-China talks The U.S. and China begin their third round of talks in Stockholm amid a possible extension of their trade truce beyond the Aug.12 deadline. Washington plans to raise issues including China's industrial overcapacity, economic imbalances and continued oil purchases from Iran and Russia. China, on the other hand, says it will seek to "enhance consensus, reduce misunderstandings and strengthen cooperation" with the U.S. Earnings: Singapore Airlines TUESDAY IPO: Oxford Innotech Earnings: ANA WEDNESDAY Fed rate decision The U.S. Federal Reserve will conclude its two-day meeting and reach its latest monetary policy decision. Markets do not expect a rate cut in the meeting, but all eyes are on Chair Jerome Powell's news conference. Market watchers will be seeking clues on the next rate cut, as well as any response to Trump's strong criticisms of the Fed chair. Singapore monetary policy statement Singapore's central bank will announce its monetary policy statement, with some economists expecting further easing, given a forecast economic slowdown in the second half of the year driven by ongoing U.S. tariff uncertainties. The city-state predicts its economy will grow between zero and 2% this year. Nissan earnings Nissan Motor will release its April-to-June results. The company is expected to update investors about progress in its business restructuring and how much its bottom line has been affected by the 25% automotive tariffs set by the U.S. Earnings: JAL, Kansai Electric Data: Philippines trade, Sri Lanka inflation THURSDAY BOJ monetary policy The Bank of Japan wraps up its two-day policy meeting. While market participants expect the central bank to hold interest rates steady, the focus will be on what Gov. Kazuo Ueda says in the wake of the upper house election and the Japan-U.S. trade deal. The BOJ will also release its latest inflation and economic outlook. Earnings: Apple, Sumitomo, Grab, Keppel, Siam Cement, SK Innovation, JERA FRIDAY U.S. tariff deadline After a monthslong pause, Trump is set to impose varying tariff rates on dozens of countries, although some have made arrangements with Washington to lower the U.S. duty rate, although details have yet to be revealed. Governments that have not reached a deal with the U.S. will be slapped with a steep, country-specific tariff rate, which will likely increase costs for U.S. households. Nintendo earnings Nintendo releases its April-to-June earnings following the release of its Switch 2 game console in June. Investors are eager to hear an update on Switch 2 sales, as well as how it is contributing to the company's finances. Other earnings: Nippon Steel, Marubeni, Itochu, OCBC, Mitsui & Co, Tata Power
Japan Today
2 days ago
- Japan Today
U.S. chip maker Intel says revenue rose as it cut ranks
Silicon Valley chip maker Intel says it cut about 15 percent of its 'core workforce' in the recently ended quarter By Glenn CHAPMAN Intel this week posted quarterly revenue that topped market expectations, saying it has cut about 15 percent of its workforce to be "more agile." The U.S. chip maker also said it "will no longer move forward" with projects in Germany and Poland as part of a push to save billions of dollars. The struggling chip maker's earnings report came as rivals specializing in graphics processing units (GPUs) for artificial intelligence thrive due to rapid adoption of the technology. Intel is one of Silicon Valley's most iconic companies, but its fortunes have been dwarfed by Asian powerhouses TSMC and Samsung, which dominate the made-to-order semiconductor business. The company was also caught by surprise with the emergence of Nvidia as the world's preeminent AI chip provider. Intel's niche has been in chips used in traditional computing processes, steadily being eclipsed by the AI revolution. Intel reported $12.9 billion in sales in the recently ended quarter, topping forecasts, but logged a $2.9 billion loss that included $1.9 billion in restructuring charges. "Intel has completed the majority of the planned headcount actions it announced last quarter to reduce its core workforce by approximately 15 percent," the company said in an earnings release. "These changes are designed to create a faster-moving, flatter and more agile organization." Intel shares were down slightly in after-hours trades that followed the release of the earnings figures. Intel chief executive Lip-Bu Tan took the helm in March, announcing layoffs as White House tariffs and export restrictions muddied the market. Malaysia-born tech industry veteran Tan has said it "won't be easy" to overcome challenges faced by the company. Meanwhile, South Korean chip giant SK hynix reported record quarterly profits Thursday thanks to soaring demand for artificial intelligence technology. The world's second-largest memory chip maker dominates the market for high-bandwidth memory semiconductors and is a key supplier for US titan Nvidia. Riding the AI wave, last week Taiwan chip giant TSMC announced a surge in net profit for the second quarter. "Nvidia suppliers like SK hynix will continue to enjoy strong demand in the coming months and years for memory chips due to the high memory content needed to make AI chips functional," G. Dan Hutcheson of TechInsights told AFP. Dutch tech giant ASML last week said it booked higher net profits in the second quarter of 2025 compared with the same period last year. The firm, which makes cutting-edge machines for the manufacture of semiconductors, warned that the growth outlook for next year was somewhat less rosy than before. "Looking at 2026, we see that our AI customers' fundamentals remain strong," said Chief Executive Officer Christophe Fouquet in a statement. "At the same time, we continue to see increasing uncertainty driven by macro-economic and geopolitical developments," he cautioned. Washington has sought to curb exports of state-of-the-art chips to China, concerned that they could be used to advance Beijing's military systems and otherwise undermine American dominance in AI. © 2025 AFP
Nikkei Asia
2 days ago
- Nikkei Asia
Asia needs to open up -- there's no going back to before Trump: ADB chief
Former Japanese currency czar Masato Kanda became head of the Asian Development Bank in February. (Photo by Suzu Takahashi) YUKI FUJITA MANILA -- In an age of growing uncertainty, Asian countries need to open their economies like never before, says Masato Kanda, president of the Asian Development Bank and Japan's former currency czar. Kanda took charge of the ADB, a multilateral financial institution that works to support infrastructure, combat global warming and reduce poverty in the Asia-Pacific region, just after U.S. President Donald Trump returned to the White House and "completely changed the world."
