Key events by March 16
Drone attack halted operations at Dubai Airport
Dubai International Airport temporarily suspended operations after a drone strike, which caused a fire at a fuel tank near the terminal. Flights were suspended for more than 5 hours, with planes forced to circle in the air.
The airline Emirates temporarily halted flights, redirecting some aircraft to other UAE airports or returning them to their countries of origin. This is already the third incident near the airport in the last two weeks amid the escalation of the conflict with Iran.
USA demands participation of other countries in protecting the Strait of Hormuz
US President Donald Trump stated that other nations must join in ensuring the security of shipping in the Strait of Hormuz.
According to him, about one-fifth of the world's oil passes through the strait, so countries that receive energy resources via this route, including China, should participate in its protection.
Amid the tensions, oil prices have risen again:
- WTI rose above $100 per barrel
- Brent traded around $104
Micron to build second chip factory in Taiwan
American company Micron Technology plans to build a second chip manufacturing plant at the Tongluo site in Taiwan.
The facility will produce cutting-edge DRAM chips, including high-speed HBM memory used in artificial intelligence systems. Construction is expected to begin by the end of the 2026 fiscal year.
China develops 7nm chip manufacturing technology
Chinese company Hua Hong Group has developed a 7-nanometer chip manufacturing technology, becoming the second company in the country after SMIC, capable of producing such chips.
Test production is already underway, with plans to produce several thousand wafers per month by the end of the year. The development involved the company Huawei, which is seen as an important step in reducing dependence on foreign semiconductor suppliers.
JD.com enters the European market
Chinese company JD.com has launched the international platform Joybuy in Europe.
The service has already started operating in six countries, including the UK and Germany. The company is betting on its own logistics and fast delivery, hoping to compete with Amazon, as well as AliExpress and Temu.
What is happening in the markets
- Topix −0.5%, Nikkei 225 −0.2%
- Hang Seng +1.3%
- CSI 300 −0.1%
- Kospi +1.1%, Kosdaq −1.6%
- S&P/ASX 200 −0.4%
Futures on American indices are rising:
- S&P 500 +0.6%
- Nasdaq +0.7%
- Dow Jones +0.5%