Tag: China Covid

Bitcoin, Ether up as China reopens post-Covid clampdown, but concerns remain
29Dec By adminNo Comments
Technology

Bitcoin, Ether up as China reopens post-Covid clampdown, but concerns remain

[ad_1] The day has started flat for cryptocurrencies as Bitcoin was higher. The day has started flat for cryptocurrencies as Bitcoin was 0.12% higher at $16,560 and Ether was up 0.3% at $1,193.40. However, crypto investors should know that both Bitcoin and Ether are on track for a decline of over 60% in 2022. Meanwhile, the US dollar shaved off some gains on Thursday. Treasury yields WERE higher overnight, though investors remained on edge going into the year end as initial optimism over China's reopening fizzled, Reuters reported. While China has removed its quarantine rule for inbound travellers beginning January 8, the United States, Japan and India have clamped down and insist that they would require COVID tests from anyone arriving from there. The world was caught by surpr...
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Big Setback for Apple; iPhone Supply Chain Takes Hit From China’s Covid-Zero Enforcers
3Nov By adminNo Comments
Technology

Big Setback for Apple; iPhone Supply Chain Takes Hit From China’s Covid-Zero Enforcers

[ad_1] With little warning, China locked down the world’s largest iPhone factory on Wednesday. It’s the last thing Apple Inc. needed. With little warning, China locked down the world's largest iPhone factory on Wednesday, declaring the zone around the Zhengzhou Foxconn Technology Group complex off-limits to combat a local Covid-19 outbreak. It's the last thing Apple Inc. needed. The abrupt move is expected to further disrupt a factory already grappling with an outcry over an on-site coronavirus outbreak, worker exodus and enforced quarantine. Local authorities said Wednesday that they'll sterilize Foxconn's campus and the surrounding areas in the next three days and send N95 masks to workers, another sign of the government's tightening grip. It served up a stark reminder of th...
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China’s Nio Falls Behind on Thousands of Electric Cars as Covid Zero Hits Plants
2Nov By adminNo Comments
Technology

China’s Nio Falls Behind on Thousands of Electric Cars as Covid Zero Hits Plants

[ad_1] Chinese electric-car maker Nio Inc. has fallen behind on both producing and delivering thousands of vehicles over the past month. Chinese electric-car maker Nio Inc. has fallen behind on both producing and delivering thousands of vehicles over the past month as Covid restrictions disrupted output at its two factories, according to people familiar with the matter. Production at the plants in Hefei, Anhui province, have also been impacted by delays in the supply of some components, the people said, asking not to be identified because the details are private. US-listed Nio tried to operate so-called closed-loop systems at the factories -- which require workers to stay on site, allowing production to continue even if a lockdown is in place -- but those efforts failed due to a la...
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Chinese cities brace for wave of Foxconn workers from COVID-hit Zhengzhou
30Oct By adminNo Comments
Technology

Chinese cities brace for wave of Foxconn workers from COVID-hit Zhengzhou

[ad_1] Zhengzhou reported 167 locally transmitted COVID-19 cases in the seven days to Oct. 29, up from 97 infections in the prior 7-day period. Cities in central China hastily drew up plans to isolate migrant workers fleeing to their hometowns from a vast assembly facility of iPhone maker Foxconn in COVID-hit Zhengzhou city, fearing the returnees may trigger coronavirus outbreaks. Zhengzhou, capital of Henan province, reported 167 locally transmitted COVID-19 cases in the seven days to Oct. 29, up from 97 infections in the prior seven-day period. Taiwan-based Foxconn, which has about 300,000 workers in Zhengzhou, has not disclosed the number of infected workers. Under China's ultra-strict zero-COVID policies, localities are mandated to act swiftly to quell any outbreaks, with mea...
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China Locks Down Almost 1 Million People Near iPhone Factory
17Oct By adminNo Comments
Technology

China Locks Down Almost 1 Million People Near iPhone Factory

[ad_1] The iPhone manufacturing hub of Zhengzhou locked down one of its most-populated districts to tame a virus flareup. The iPhone manufacturing hub of Zhengzhou locked down one of its most-populated districts to tame a virus flareup, with creeping restrictions throughout China underscoring the constant threat of disruption companies face while the country sticks to Covid Zero. Almost 1 million residents of Zhongyuan district were ordered to stay at home starting Monday, except for when they need to undergo Covid testing, and non-essential businesses have been shut, according to a government notice. The wider restrictions follow the lockdown of some neighborhoods last week, catching many people by surprise after officials had said there wouldn't be a citywide lockdown. iPhone m...
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16 Million Under Lockdown In Chinese City Amid New Covid Outbreak: Report
1Sep By adminNo Comments
Latest

16 Million Under Lockdown In Chinese City Amid New Covid Outbreak: Report

[ad_1] Each household will be allowed to send one person out to buy groceries.Beijing: Around 16 million people in the Chinese city of Chengdu will be effectively under lockdown from Thursday as authorities race to snuff out a new Covid-19 outbreak.China is the last major economy wedded to a zero-Covid policy, stamping out virus flare-ups with snap shutdowns, mass testing and lengthy quarantines.Chengdu, in the southwest, has become the latest to announce a shutdown, saying in an official notice that residents must "stay home in principle" from 6 pm on Thursday to combat a new wave of infections.Each household will be allowed to send one person out to buy groceries and essential goods per day, provided they have tested negative in the previous 24 hours, the notice said.It said that all r...
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