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Micron Technology on Tuesday committed approximately $24 billion to expand its wafer manufacturing operations in Singapore, as the American memory chipmaker moves to expand production amid global shortages.

In a press release, Micron said the investment would add 700,000 square feet of cleanroom space —highly-controlled manufacturing areas designed to prevent contamination — at an existing NAND manufacturing complex.

Production of NAND, a type of memory chip widely used in personal computers, servers and smartphones, is expected to start in the second half of 2028.

Demand for NAND technology has been skyrocketing in recent months, driven by the rapid expansion of artificial intelligence and data-centric applications.

In response to the shortage, Micron and its memory competitors, including Samsung Electronics and SK Hynix, have been increasing output.

Micron operates manufacturing facilities in Singapore as part of its broader Asian production network, which also includes sites in China, Taiwan, Japan, and Malaysia.

The company is also building a $7 billion advanced packaging plant in Singapore to produce high-bandwidth memory, a type of dynamic random-access memory, or DRAM, used in AI applications.

The pivot by Micron and other memory makers to prioritize high-bandwidth memory production has contributed to shortages of other types of memory chips. These shortfalls are expected to last through late 2027, according to some estimates.

Micron said its high-bandwidth memory facility, also located in the same Singapore manufacturing complex, is on track to contribute meaningfully to its HBM supply in 2027.

"As HBM becomes a part of Micron's Singapore manufacturing footprint, the company expects opportunities for synergies between NAND and DRAM production," the company said in its release.

Micron added that it plans to manage the pace of capacity expansion at the new facility based on market demand.

The newly announced NAND expansion is set to generate about 1,600 jobs in fab engineering and operations, incorporating AI, robotics, and smart manufacturing. That follows the creation of about 1,400 new positions tied to the high-bandwidth memory plant.

"Micron's latest expansion will strengthen our semiconductor ecosystem and further anchor Singapore as a critical node in the global semiconductor supply chain," said Jermaine Loy, managing director of Singapore's Economic Development Board, which encourages local semiconductor manufacturing through various incentives and policies.

Shares of Micron rose over 3% in overnight trading on Robinhood following the announcement

Source: CNBC

India and the European Union have concluded a long-awaited Free Trade Agreement, finalizing negotiations that first began in 2007. The pact, described as the "Mother of all deals," creates an economic bloc that accounts for 25% of the world's GDP and a third of all international trade.

Modi Touts Major Boost for Indian Economy

Speaking at the India Energy Week 2026 opening ceremony, Prime Minister Narendra Modi announced the historic agreement, highlighting its potential to unlock significant opportunities for citizens in both India and Europe.

Modi projected that the deal would deliver a substantial boost to India's manufacturing sector and fuel expansion in its services industry. He emphasized that the Free Trade Agreement is set to enhance the confidence of investors and businesses looking to commit capital to India.

The Prime Minister also noted that the agreement aligns with and complements India's existing trade pacts with the United Kingdom and the European Free Trade Association (EFTA). "This agreement empowers our shared commitment towards democracy and the rule of law," Modi stated.

Trade between India and the EU reached $136.5 billion in the fiscal year ending March 2025. Combined, the two partners represent nearly 20% of global trade and about a quarter of the world's population.

Beyond Trade: A New Security and Defence Pact

Alongside the economic agreement, India and the EU also formalized a Security and Defence Partnership. India’s Defence Minister, Rajnath Singh, and the chiefs of the three military services met with a high-level EU delegation at the Defence Ministry. The EU group was led by Kaja Kallas, the EU High Representative for Foreign Affairs and Security Policy.

The formal signing of this partnership is scheduled to take place during the 16th India-EU Summit in New Delhi. The summit will be co-chaired by Prime Minister Modi, European Council President Antonio Costa, and European Commission President Ursula von der Leyen, where leaders are expected to adopt a comprehensive joint strategic agenda.

A Strategic Hedge Against US Trade Policy

This series of agreements highlights a broader global effort to build alliances that can act as a hedge against the United States. President Donald Trump's actions, including his bid to acquire Greenland and tariff threats against European nations, have tested long-standing Western alliances.

President Trump has already imposed a 50% tariff on goods from India, and an attempted India-U.S. trade deal collapsed last year following a breakdown in communication between the two governments. The new India-EU pact arrives just days after the EU secured a similar deal with the Mercosur bloc and follows India's own recent trade agreements with Britain, New Zealand, and Oman.

A growing number of German officials are calling for the Bundesbank to repatriate the country's vast gold reserves stored in the United States, citing escalating geopolitical risks. Germany holds 3,352 tonnes of gold, the second-largest reserve in the world, with a significant portion remaining in foreign vaults.

Approximately 1,200 tonnes, valued at around €164 billion ($194 billion), are currently held at the Federal Reserve Bank of New York. This arrangement, a relic of the Cold War designed to keep the assets safe from the Soviet Union, is now facing intense scrutiny.

The Geopolitical Trigger for Repatriation

The primary driver behind the repatriation calls is a shifting global landscape. Emanuel Mönch, a prominent German economist and former head of research at the Bundesbank, has labeled the current storage arrangement in the U.S. as "too risky."

"Given the current geopolitical situation, it seems risky to store so much gold in the U.S.," Mönch stated. "In the interest of greater strategic independence from the U.S., the Bundesbank would therefore be well-advised to consider repatriating the gold."

This sentiment is fueled by the United States' increasing use of economic pressure and the dollar as foreign policy tools. Michael Jäger, head of the European Taxpayers Association (TAE), pointed to former President Trump's unpredictability as a key concern.

"Our gold is no longer safe in the Fed's vaults," Jäger warned, suggesting the risk of the Bundesbank losing access to its reserves is rising.

Echoing these concerns, EU Parliament member Markus Ferber has called for regular, in-person audits of Germany's gold by Bundesbank officials. "The Bundesbank's policy for gold reserves has to reflect the new geopolitical realities," he explained.

A Cross-Party Debate Emerges

While calls for repatriation have traditionally come from politically conservative figures, the idea is gaining broader support. Katharina Beck, the Green Party's finance spokesperson, endorsed the move, describing the country's gold reserves as an "important anchor of stability and trust" that "must not become pawns in geopolitical disputes."

Despite this growing pressure, the official stance remains unchanged for now. A spokesperson for Friedrich Merz's coalition government recently stated that moving gold out of the U.S. is not currently being considered. The Bundesbank has also made no official statements on the matter, publicly maintaining its trust in the Federal Reserve.

Voices of Caution Advise Against Hasty Moves

Not everyone agrees that bringing the gold home is the right decision. Clemens Fuest, President of the Institute for Economic Research (Ifo), advised against repatriation, warning it could have unintended consequences and would "only pour oil on the fire of the current situation."

Frauke Heiligenstadt, a financial policy spokesperson for the Social Democrats, acknowledged the concerns but argued against a rush to action. She noted that Germany's gold reserves are well diversified, with about half already stored in Frankfurt, which "guaranteed" the country's ability to act. Heiligenstadt added that keeping some gold in New York remains logical due to the close financial ties between Germany, Europe, and the U.S.

Part of a Global De-Dollarization Trend

The debate in Germany is not happening in a vacuum. It is part of a wider global trend of de-dollarization and asset repatriation as countries seek to reduce their dependence on the U.S. financial system. This movement gained momentum after the U.S. and its allies froze nearly half of Russia's $650 billion in gold and foreign exchange reserves.

A 2023 World Gold Council survey revealed the impact of these sanctions.

• A "substantial share" of central banks expressed concern about potential sanctions.

• 68% of banks surveyed said they plan to keep their gold reserves within their own borders, up from 50% in 2020.

One central bank official anonymously told Reuters they had moved their gold from London back to their own country "to hold as a safe haven asset and to keep it safe."

Numerous countries have already taken action. India repatriated 100 tonnes of its gold in 2024. This follows earlier moves by Poland, which brought home 100 tons in 2019, as well as repatriation programs initiated by Hungary, Romania, Australia, the Netherlands, and Belgium. Germany itself completed a project in 2017 to return roughly half of its total reserves to its own vaults.

Chinese President Xi Jinping met with Finnish Prime Minister Petteri Orpo on Tuesday, outlining a vision for a partnership centered on a multipolar global order and strengthened economic ties. The talks come as shifting geopolitics and growing strategic competition in the Arctic region reshape international relations.

China's Vision for a Multipolar World

During the meeting, Xi expressed Beijing's readiness to collaborate with Helsinki to support an international system centered on the United Nations. He emphasized a future based on a multipolar world and continued economic globalization.

In this context, Xi highlighted the role he hopes Finland will play in fostering a healthy and stable relationship between China and the European Union. The discussions occur as European nations increasingly look to diversify their foreign relations in response to the volatile foreign policy decisions of the U.S. under President Donald Trump.

The Arctic: A New Geopolitical Flashpoint

The Arctic has emerged as a key area of strategic interest for both nations. As melting ice opens new, faster shipping routes between Asia and Europe, the region's importance for international trade is growing rapidly.

Finland, with one-third of its territory above the Arctic Circle, has deep security concerns. Speaking at the World Economic Forum in Davos, Finnish President Alexander Stubb stated his desire for NATO to agree on an Arctic security deal at its July summit. This follows recent heightened attention on the region, partly fueled by Trump's previous threats regarding Greenland, which were aimed at curbing Chinese and Russian influence.

China, which defines itself as a "near-Arctic state," is actively pursuing its "Polar Silk Road" initiative to capitalize on these new maritime corridors.

Undercurrents of Tension in Bilateral Talks

While the meeting focused on cooperation, it follows recent candid discussions about sensitive security issues. During a state visit to Beijing in 2024, President Stubb raised concerns with Xi over a series of incidents involving damage to undersea power cables, gas pipelines, and telecom infrastructure where Chinese-registered vessels have been implicated. A Chinese ship captain is currently facing allegations of criminal damage in a Hong Kong court related to one of the cases.

Stubb also addressed the issue of North Korean support for Russia's invasion of Ukraine, a matter that both NATO and the EU consider a provocation.

Economic Cooperation and Diplomatic Overtures

On the economic front, Xi encouraged deeper collaboration in sectors like energy transition, agriculture, and forestry. He welcomed Finnish enterprises to "swim freely" in the "vast ocean" of China's market.

Prime Minister Orpo, who is in Beijing from January 25 to 28, told Xi he looked forward to continuing discussions on both bilateral cooperation and international issues. He also reiterated President Stubb's invitation for Xi to visit Finland. In a reciprocal gesture, Finland's speaker of parliament, Jussi Halla-aho, has invited top Chinese lawmaker Zhao Leji for a visit.

Industrial Profits Reverse A Three Year Slide

December Surge Signals Short Term Momentum

Policy Intervention Curbs Price Erosion

Exports Offset Weak Domestic Demand

Beijing Signals More Support For Consumption

Source: CNBC

Trump Reapplies Tariff Leverage On South Korea

Global Trade Realignment Continues Elsewhere

Markets Stay Anchored To Big Tech Momentum

Currencies And Commodities Signal Underlying Unease

Federal Reserve Looms As Next Catalyst

Source: CNBC