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Rakon's revenue has been hit hard, offsetting gains made in the aerospace and defence markets. Photo: 123RF Semiconductor chipmaker Rakon has plunged into the red amid a global slowdown in the rollout of 5G networks. Key numbers for the six months ended September compared with a year ago: Net loss $10.4m vs $0.5m profit Revenue $41.7m vs $61.3m Underlying loss $7.3m vs $5.3m profit No dividend Chief executive Sinan Altug said the half-year period was "exceptionally tough", particularly in the telecommunications and positioning markets. "These markets continued to be affected by macroeconomic conditions that slowed investments in 5G mobile networks globally, and extended timeframes for customer inventory normalisation across both markets," he said. The company's revenue was also hit sh...

By David Goldman, CNN File photo. Donald Trump promised massive hikes in tariffs on goods from Mexico, Canada and China starting on the first day of his administration. Photo: CHIP SOMODEVILLA / Getty Images via AFP Incoming US president Donald Trump promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy that could sharply increase costs for American businesses and consumers. The move, Trump said, will be in retaliation for illegal immigration and "crime and drugs" coming across the border. "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25 percent Tariff on ALL products coming into the United States, and its ridiculous Open...

By Asif Shahzad, Gibran Naiyyar Peshimam and Charlotte Greenfield for Reuters Former Pakistan prime minister Imran Khan has been in jail since August 2023. Photo: AFP Thousands of protesting supporters of jailed former prime minister Imran Khan stormed the heavily guarded Pakistani capital, Islamabad, on Tuesday, escalating their face-off with the government and its military backers for his release. At least six people, including four paramilitary soldiers, were killed during clashes between security forces and protesters, led by Khan's wife, who made it all the way to the edge of the city's highly fortified red zone, before being pushed back by hundreds of security force personnel. The red zone, being guarded by army soldiers, houses the country's most important offices and building...

By Maayan Lubell, Maya Gebeily and Laila Bassam, Reuters Israeli Prime Minister Benjamin Netanyahu is expected to speak soon. Photo: AFP / GIL COHEN-MAGEN Israel has agreed a ceasefire with Lebanon, Israel's Channel 12 television reported Wednesday, clearing the way for an end to a conflict between Israel and Lebanon's Hezbollah that has killed thousands of people since it was ignited by the Gaza war last year. The accord was expected to take effect on Thursday. The Channel 12 report followed a meeting of Israel's security cabinet under Prime Minister Benjamin Netanyahu convened to discuss a ceasefire deal. Israeli approval of the deal would pave the way for a ceasefire declaration by US President Joe Biden and French President Emmanuel Macron, according to four senior Lebanese sourc...