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☆ India says Europe trade group commits to $100 billion 15-year deal
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will waive tariffs on industrial imports from four European nations for a $100 billion investment over 15 years, ending nearly 16 years of negotiations. It envisages that the European Free Trade Association, comprised of Switzerland, Norway, Iceland and Liechtenstein, will invest $100 billion over 15 years in India's fast-growing market of 1.4 billion people, Trade Minister Piyush Goyal said. "With the new deal, we have secured nil import taxes on nearly every Norwegian good." The five signatories must ratify Sunday's deal before it can take effect, with Switzerland planning to do so by 2025.

Persons: Piyush Goyal, Narendra Modi, Christian Vestre, Goyal Organizations: of Commerce and Industry, Consumer Affairs, Food, United Arab, European Free Trade Association, Trade, Industry Locations: India, Australia, United Arab Emirates, Britain, Switzerland, Norway, Iceland, Liechtenstein

☆ India inks 'watershed' $100 billion free trade deal with four non-EU nations
▼ + stars: | 2024-03-11 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

India flag, stock market, exchange economy and Trade, oil production, container ship in export and import business and logistics. India will lift most tariffs on four nations in Europe in a "watershed" deal that is expected to yield $100 billion worth of investment over 15 years and one billion jobs for the world's fifth-largest economy. The trade deal with European Free Trade Association nations, not part of the EU, was inked ahead of the country's general elections due in the next few months that may give Prime Minister Narendra Modi a third-straight term in office. This "marks a new turn and watershed moment in the bilateral relationship between India and [European Free Trade Association] countries of Switzerland, Iceland, Norway and Liechtenstein," India Prime Minister Narendra Modi said in comments shared on X, formerly Twitter. India expects this free trade agreement to stimulate its key exports in IT services, business services, audio-visual services among others, said Commerce and Industry Minister Piyush Goyal.

Persons: Narendra Modi, Piyush Goyal Organizations: European Free Trade Association, Free Trade Association, Twitter, Commerce, Industry Locations: India, Europe, Great Britain, Switzerland, Iceland, Norway, Liechtenstein

☆ CNBC Daily Open: Conflicting signals on U.S. jobs market
▼ + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China warns property developersChina's housing minister signaled real estate developers must go bankrupt if required and won't get a major bailout. Minister of Housing and Urban-Rural Development Ni Hong also warned that those who "harm the interests of the masses" will be punished. India's 'watershed' FTAIndia signed a 'watershed' $100 billion free trade deal that will remove most tariffs with four non-EU nations.

Persons: Hong, Piyush Goyal, Tony Fernandes, Tasha Keeney Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Housing, India, EU, Commerce, Industry, AirAsia Locations: Asia, Japan, China, Malaysian

☆ Ukraine Needs $486 Billion to Recover, Rebuild After Nearly Two Years of War - World Bank
▼ + stars: | 2024-02-15 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

That 10-year cost estimate is up from $411 billion last March, with housing needs topping the list at $80 billion or 17%, followed by transport needs of $74 billion or 15%, and commerce and industry at $67.5 billion, or 14%. The new estimate excludes reconstruction needs already met through the Ukraine state budget or through partners and international support. He said the Ukrainian economy had proven remarkably resilient in the face of the war. Four of five firms continued to operate in Ukraine, despite the war, with many relying on digital operations or moving sites to stay in business, he added. The number of internally displaced persons had also gone down to around 3.7 million, compared with 5.4 million in spring 2023.

Persons: Andrea Shalal WASHINGTON, Arup Banerji, Banerji, Andrea Shalal, Jonathan Oatis Organizations: World Bank, United, European Commission Locations: United Nations, Eastern Europe, Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, Kyiv, Ukraine, Ukrainian

☆ S.Korea Defence Minister Heads to Middle East for Talks, Arms Expo
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

SEOUL (Reuters) - South Korea's defence minister Shin Won-sik departs on Thursday for a seven-day trip to the Middle East to hold ministerial talks and attend an arms exhibition in Saudi Arabia, the ministry said. He will also travel to Saudi Arabia on Saturday for the World Defense Show in Riyadh before heading to Qatar to meet Khalid bin Mohammed Al Attiyah, the country's defence minister. South Korea has emerged in recent years as one of the world's biggest arms exporters with sales jumping to $17 billion in 2022 from $7.25 billion the year before, data from the defence ministry showed. The country's arms exports to the Middle East grew nearly tenfold between 2013 and 2022, according to the Korea Chamber of Commerce and Industry. War in Israel and Gaza View All 194 ImagesExperts say arms sales have been buoyed by South Korea's price competitiveness and ability to ensure speedy delivery.

Persons: Shin Won, sik, Shin, Mohammed bin Mubarak Al Mazrouei, Khalid bin Mohammed Al Attiyah, Hyunsu Yim, Ed Davies Organizations: United Arab Emirates, South, Akh Unit, World Defense, Korea Chamber of Commerce, Industry Locations: SEOUL, Saudi Arabia, Riyadh, Qatar, Korea, Israel, Gaza

☆ Defense is a 'huge part' of the U.S.-Australia relationship, Australian industry body says
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDefense is a 'huge part' of the U.S.-Australia relationship, Australian industry body saysAndrew McKellar of the Australian Chamber of Commerce and Industry says the United States is Australia's top strategic partner.

Persons: Andrew McKellar Organizations: Email Defense, U.S ., Australian Chamber of Commerce, Industry Locations: U.S, Australia, United States

German Chancellor Olaf Scholz's coalition unveiled in July a strategy toward de-risking Germany's economic relationship with China, calling Beijing a "partner, competitor and systemic rival". German investment in Asia excluding China is rising as a share of overall investment. "No company is going to say that it will leave China," said Sandra Ebner, senior economist at Union Investment, Germany's second-largest fund manager. "But what companies are increasingly doing is to produce in China for China and to position themselves around China for the remaining Asian or global market." In July, German Economy Minister Robert Habeck travelled to India with a delegation of executives to discuss opportunities for German companies.

Persons: Thomas Nuernberger, Nuernberger, Olaf Scholz's, Volker Treier, Munk, Ferdinand Munk, Scholz, Angela Merkel's, Martin Brudermueller, Max Zenglein, Juergen Matthes, Markus Horn, Matthias Bianchi, Joe Biden, Wolfgang Niedermark, Jan Roennfeld, Roennfeld, Sandra Ebner, BDI's Niedermark, Robert Habeck, Christoph Steitz, Sarah Marsh, Maria Martinez, Aditya Kalra, Sarita Chaganti Singh, Xinghui, Orathai, Brenda Goh Organizations: Reuters, Commerce and Industry, Volkswagen, Mercedes, Benz, BASF, IW Institute, Big, Mercator Institute for China Studies, Economic Institute, Horn, German Association of, Indonesian Chamber of Commerce, Union Investment, Thomson Locations: FRANKFURT, BERLIN, Berlin, Beijing, China, Taiwan, India, Asia, Germany, Europe, Vietnam, South Korea, Indonesia, South China, European, Thailand, United States, Mexico, Indonesian, Eastern Germany, Malaysia, Frankfurt, New Delhi, Xinghui Kok, Singapore, Bangkok, Shanghai

☆ Options for G7 discussion for a ban on Russian diamonds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +5 min

Enforcement would be government regulated through customs at a single point of entry for rough diamonds and several G7 entry points for polished stones. The proposal said a single entry point would be needed for rough diamonds without specifying where. Antwerp would be the favoured option for Belgium and the city also already handles most of the rough diamond trade. WORLD DIAMOND COUNCILThe World Diamond Council, which includes the world's largest rough diamond producer by value, De Beers, has proposed a version of the ban that is largely self-regulating. Any diamond sellers would then have to include with the stone they sell a declaration called the "G7 Diamond Protocol Declaration" that the diamond is not Russian.

Persons: De Beers, Sellers, De, WDC, Julia Payne, Jan Strupczewski, David Evans Organizations: Reuters, World Diamond Council, Belgian, Export Promotion Council, WORLD DIAMOND, Diamond Council, Russian, Thomson Locations: Ukraine, Belgium, India, France, BELGIUM, Antwerp, Russian, Botswana, INDIA, Surat, Mumbai, FRANCE

REUTERS/Ali Khara/File Photo Acquire Licensing RightsKABUL, Oct 14 (Reuters) - The Taliban will attend China's Belt and Road Forum next week, a spokesman said on Saturday, underscoring Beijing's growing official ties with the administration, despite its lack of formal recognition by any government. Taliban officials and ministers have at times travelled to regional meetings, mostly those focussed on Afghanistan, but the Belt and Road Forum is among the highest-profile multilateral summits it has been invited to attend. China has been in talks with the Taliban over plans, begun under the previous foreign-backed government, over a possible huge copper mine in eastern Afghanistan. Officials from China, the Taliban and neighbouring Pakistan said in May they would like Belt and Road to include Afghanistan and for the flagship China Pakistan Economic Corridor to be extended across the border to Afghanistan. China has boosted engagement with the Taliban, becoming the first country to appoint an ambassador to Kabul since the Taliban took power, and invested in mining projects.

Persons: Mullah Abdul Ghani Baradar, Wang Yu, Ali Khara, Xi, Haji Nooruddin Azizi, Akhundzada Abdul Salam Jawad, Azizi, Akhundzada, Mohammad Yunus Yawar, Charlotte, Joe Cash, William Mallard Organizations: Afghan, REUTERS, Rights, China Pakistan Economic, Taliban, Thomson Locations: China, Islamic Emirate, Afghanistan, Kabul, Rights KABUL, Beijing, Pakistan, China Pakistan, Charlotte Greenfield, Islamabad

ABUJA, Nigeria (AP) — Nigerian government workers on Tuesday continued working after last-minute efforts by authorities averted a nationwide strike to protest growing hardship that could have shut down government services in Africa's most populous country. The indefinite strike by Nigerian labor unions scheduled to start Tuesday is being suspended for 30 days, while meetings and talks with the government will be held over the coming days, said Joe Ajaero, president of the Nigeria Labour Congress, or NLC, which is the umbrella body of the unions. Talks with the labor unions have stalled and a slow start to several intervention efforts resulted in last week’s announcement of the strike. One major source of concern has been intervention efforts, which the labor unions said have been slow. “But the adverse outcomes of the measures, the hardship, were much higher than what many of us expected.”

Persons: Joe Ajaero, Bola, ”, Muda Yusuf Organizations: Nigeria Labour Congress, NLC, Lagos Chamber of Commerce, Industry, Private Enterprise Locations: ABUJA, Nigeria, Africa's, Lagos

☆ BOJ chief warns of highly uncertain wage, price outlook
▼ + stars: | 2023-09-25 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The key to the outlook for monetary policy is whether strong wage growth and consumption, rather than cost pressures from rising import costs, become the key driver of inflation, Ueda said. Ueda said the BOJ was "not fully convinced" that wage hikes would keep accelerating, as many companies seemed undecided on their wage strategy for next year and beyond. That's why we are supporting demand and the broader economy with easy monetary policy," he added. While stressing the need to keep ultra-loose policy for now, Ueda said it was "extremely important" to weigh the benefits and costs of its policy. On the yen's recent falls, Ueda said the BOJ was keeping a close eye on their impact on economic and price developments.

Persons: Kazuo Ueda, Kim Kyung, Ueda, Shingo Torii, Leika Kihara, Chang, Ran Kim, Sam Holmes, Ed Osmond Organizations: Japan, REUTERS, Ueda, Bank of Japan, Panasonic, Osaka Chamber of Commerce and Industry, Thomson Locations: Tokyo, Japan, Ueda OSAKA, Osaka

LONDON (AP) — Prime Minister Rishi Sunak announced Wednesday that he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030, watering down climate goals that he said imposed “unacceptable costs” on ordinary people. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government’s change of plan. Ford U.K. head Lisa Brankin said the company had invested 430 million pounds ($530 million) to build electric cars in Britain.

Persons: Rishi Sunak, Sunak, ”, Boris Johnson, backtrack, Prince William —, Will McCallum, Lisa Brankin, Richard Burge, Tara, Hargreaves Lansdown, Clee, Sadiq Khan, Alok Sharma, Peter Cox Organizations: —, Conservative Party, Former, United Nations General Assembly, Greenpeace, Ford, London Chamber of Commerce and Industry, Britain’s Conservatives, Labour, London’s Labour, BBC, Global Systems Institute, University of Exeter Locations: New York, Britain, London Uxbridge, Glasgow

PESHAWAR/KABUL, Sept 15 (Reuters) - The main Afghanistan-Pakistan land border crossing reopened on Friday after being closed for nine days following firing between guards on both sides, a senior Pakistani official told Reuters. Thousands of travellers and hundreds of trucks laden with goods were left stranded last week by the closure the Torkham border crossing, at the western end of the fabled Khyber Pass. Spokespersons for Pakistan's foreign ministry and the Afghan authorities in Nangarhar province confirmed the reopening of the crossing. "The border closure was causing huge losses to traders and common people of the two neighbouring countries," Ziaul Haq Sarhadi, director of the Pakistan-Afghanistan Joint Chamber of Commerce and Industry said. The Taliban foreign ministry criticised the closure of the crossing and said Pakistan security forces had fired on its border guards as they fixed an old security outpost.

Persons: It's, Abdul Nasir Khan, Torkham, Ziaul Haq Sarhadi, Amir Khan Muttaqi, Mushtaq Ali, Mohammad Yunus Yawar, Gibran Peshimam, Tom Hogue, Gerry Doyle, Simon Cameron, Moore Organizations: Reuters, Chamber of Commerce, Industry, Thomson Locations: PESHAWAR, KABUL, Afghanistan, Pakistan, Pakistan's Khyber, Nangarhar province, Pakistani, Peshawar, Jalalabad, Nangarhar, Kabul, Torkham

☆ Australia government to introduce bill barring 'wage theft' on Monday
▼ + stars: | 2023-09-03 | by ( Kirsty Needham | ) www.reuters.com time to read: +1 min

SYDNEY, Sept 3 (Reuters) - Australia's Labor government will introduce legislation to close "loopholes" in workplace law, a move opposed by employer groups fearing higher costs, when parliament returns on Monday. Workplace Minister Tony Burke said on Sunday he would introduce the bill making it a criminal offence to deliberately underpay workers, with a maximum penalty of 10 years in jail and a maximum fine of A$7.8 million ($5.0 million). Penalties would not apply to employers who make honest mistakes, Burke said in a statement. Burke said in a speech last week that in addition to criminalising "wage theft", the bill would make it easier for casual workers to gain permanent roles, scrutinise the use of labour hire firms to undercut minimum pay rates, and introduce minimum standards for "gig economy" workers, including in food delivery and rideshare apps. ($1 = 1.5504 Australian dollars)Reporting by Kirsty Needham; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Tony Burke, Burke, Jennifer Westacott, Kirsty Needham, William Mallard Organizations: Australia's Labor, Australian Broadcasting Corporation, Business, of Australia, Sky News, Australian Chamber of Commerce, Industry, Thomson

☆ G20 agrees to work on WTO reforms ahead of key meet early next year
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks past a model of G20 logo outside the finance ministry in New Delhi, India, March 1, 2023. Under President Joe Biden, Washington has resisted calls by WTO members to approve appointments and has instead been leading negotiations on how to reboot the WTO's paralysed dispute mechanism. Proposed reforms would include having a well-functioning Dispute Settlement System accessible to all members by 2024, as per the statement. At the Rajasthan meeting, G20 members also agreed to improve WTO functioning and strengthen trust in the multilateral trading system. The G20 takes in countries conducting over 75% of global trade and is presently functioning under Indian presidency.

Persons: Anushree, Piyush Goyal, Donald Trump's, Joe Biden, Washington, Shivangi Acharya, Manoj Kumar, Mark Heinrich Our Organizations: REUTERS, DELHI, World Trade Organization, WTO, Thomson Locations: New Delhi, India, Abu Dhabi, Rajasthan

☆ EVs: We want to be part of the global supply chain, says Indonesian Chamber of Commerce and Industry
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEVs: We want to be part of the global supply chain, says Indonesian Chamber of Commerce and IndustryArsjad Rasjid, chairman of the Indonesian Chamber of Commerce and Industry, says although the region's electric vehicle market is big enough for the country to cater to, "we want to be part of that global supply chain."

Persons: Industry Arsjad Rasjid Organizations: of Commerce, Industry, Indonesian Chamber of Commerce and Industry Locations: Indonesian

☆ India restricts laptop imports to boost local manufacturing
▼ + stars: | 2023-08-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

The ministry didn’t provide a reason for the change in rules, however Modi has aggressively pushed his “Make in India” campaign, which promotes local manufacturing in a bid to create more jobs. India’s electronic imports stood at $19.7 billion in the April to June period, up 6.25% from the same period in 2022, according to Reuters. Its large and young labor force makes the country a big draw for global companies seeking alternative manufacturing hubs to China. Earlier this year, India’s commerce minister, Piyush Goyal, said Apple was already making between 5% and 7% of its products in India. Foxconn, the world’s largest contract electronics maker and a key supplier to Apple, is also looking to expand its manufacturing operations in India.

Persons: Narendra Modi, Modi, Piyush Goyal, Apple, ” Organizations: CNN, Ministry of Commerce, Industry, Reuters, Apple, Samsung, Organisation for Economic Co, Micron, Vedanta Locations: India, China, Gujarat

WASHINGTON, July 12 (Reuters) - Billionaire Elon Musk said on Wednesday he thinks China is interested in a cooperative international framework on artificial intelligence, from conversations he had when he visited China a few weeks ago. Musk made the remarks in a Twitter Space event with two U.S. congressmen, Democrat Ro Khanna and Republican Mike Gallagher. "China is definitely interested in working in a cooperative international framework for AI regulation," Musk said. He added that he has advocated for artificial intelligence regulations and oversight, including in his meetings in China. After meeting with officials during his China trip, Musk last month said the Chinese government would seek to initiate artificial intelligence regulations in China.

Persons: Billionaire Elon Musk, Musk, Ro Khanna, Mike Gallagher, Tesla, Ding Xuexiang, Kanishka Singh, Anna Tong, Sandra Maler, Leslie Adler Organizations: Billionaire, Regulators, Thomson Locations: China, Shanghai, Beijing, ChatGPT

Experts have mixed reactions on whether the budget will meet IMF requirements and the impact on the economy. The ‘No new Taxes on Industry’ claim is belied by increase in super tax and that too in not a fully progressive way. Will retailers and the agri sectors that together contribute 40% contribute more than 2% as a result of the budget? SHAHBAZ ASHRAF, CHIEF INVESTMENT OFFICER AT FRIM VENTURES“It is surely not a budget that the IMF would approve of. "The regional energy price budget, which has built in cross subsidies, general collection and distribution losses is something the export industry cannot sustain."

Persons: GHIAS KHAN, EHSAN MALIK, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, ABDUL ALEEM, IRFAN IQBAL SHEIKH, MUSTAFA PASHA, SHAHBAZ ASHRAF, they've, There's, ” FAHAD RAUF, ISMAIL IQBAL, GOHAR EJAZ, Ariba Shahid, Jonathan Oatis, Nick Zieminski Organizations: International Monetary Fund, IMF, Pakistan, Reuters, FX, ENGRO CORP, OF, PAKISTAN BUSINESS, Industry, PAKISTAN, Company, FEDERATION OF PAKISTAN, OF COMMERCE, PKR, IN, MILLS ASSOCIATION, Thomson Locations: KARACHI, Pakistan, PAKISTAN, Karachi

BEIJING, June 5 (Reuters) - U.S. automaker Tesla Inc (TSLA.O) delivered 77,695 China-made electric vehicles (EVs) in May, a 2.4% jump from April, data from the China Passenger Car Association (CPCA) showed on Monday. Chinese rival BYD Co Ltd (002594.SZ), with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, logged sales of 239,092 vehicle in May, up 14% from April, CPCA data showed. CPCA is scheduled to release more detailed car sales figures for May later this month. Tesla has been under intense focus in China in recent weeks, amid an unannounced, high-stakes visit from boss Elon Musk. Musk visited Tesla's Shanghai factory late on Wednesday and met with Chen Jining, the ruling party's Shanghai secretary, on Thursday.

Persons: CPCA, Tesla, Elon Musk, Ding Xuexiang, Musk's, Zeng Yuqun, Musk, Chen Jining, Chen, Qiaoyi Li, Zhang Yan, Brenda Goh, Louise Heavens, Bernadette Baum Organizations: U.S, Tesla Inc, China Passenger Car Association, BYD Co, Reuters, Amperex Technology Co, Thomson Locations: BEIJING, China, Shanghai, Beijing

☆ Australia hikes minimum wage as living costs surge
▼ + stars: | 2023-06-02 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Steven Saphore/File PhotoSYDNEY, June 2 (Reuters) - Australia will raise the minimum wage by 5.75% from July 1 as families grapple with soaring living costs, a decision that businesses and some economists say risks further stoking inflation and interest rates. The independent Fair Work Commission (FWC) on Friday decided on a 5.75% pay rise for workers on awards with wages linked to movement in the minimum wage. It also made a technical reclassification for the national minimum wage, which the union says will take the increase to 8.6% for the lowest-paid employees, about 0.7% of the workforce. "Following several recent developments, including the outcome of today's minimum wage decision, we are adding a 25bp hike to our RBA profile in June and another 25bp in July." "Today's increase means these workers can keep their heads above water and not have to cut back even further."

Persons: Steven Saphore, Lin Ong, Philip Lowe, Taylor Nugent, Adam Hatcher, Hatcher, Andrew McKellar, Sally McManus, Stella Qiu, Shri Navaratnam Organizations: REUTERS, RBC Capital Markets, Reserve Bank of Australia, National Australia Bank, Australian Chamber of Commerce and Industry, Australian Council of Trade Unions, Thomson Locations: Sydney, Australia, Lincoln

☆ Elon Musk's whirlwind China trip included talks with vice premier
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, June 1 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk departed Shanghai on Thursday, wrapping up a two-day trip to China in which he met senior Chinese government officials including the highest-ranking vice premier. The video released by Tesla showed Musk praising employees for "overcoming so many difficulties and challenges" and making a heart sign with his hands. Earlier in the trip, Musk met with China's foreign, commerce and industry ministers in Beijing and dined with the chairman of battery supplier Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ). He also met with Chinese Vice Premier Ding Xuexiang on Wednesday, a source familiar with the matter said. China values its relationship with Tesla and in 2019 Musk had a one-on-one meeting with then premier Li Keqiang.

Persons: Elon Musk, Musk's, Tom Zhu, Tesla, Musk, Ding Xuexiang, Ding, Xi Jinping, Li Keqiang, Chen Jining, Chen, Zhang Yan, Brenda Goh, Nicoco Chan, Julie Zhu, Edwina Gibbs Organizations: Tesla Inc, Amperex Technology Co, State, Information Office, U.S ., Thomson Locations: SHANGHAI, Shanghai, China, Beijing, U.S, Shanghai's Hongqiao, Austin , Texas, Hong Kong

☆ Elon Musk met with Chinese Vice Premier Ding in Beijing -source
▼ + stars: | 2023-06-01 | by ( Julie Zhu | ) www.reuters.com time to read: +2 min

[1/2] Tesla Chief Executive Officer Elon Musk walks next to Tesla's Senior Vice President Tom Zhu and Vice President Grace Tao as he leaves a hotel in Beijing, China May 31, 2023. REUTERS/Tingshu Wang/File PhotoHONG KONG, June 1 (Reuters) - Tesla Inc (TSLA.O) CEO Elon Musk met with Chinese Vice Premier Ding Xuexiang on Wednesday afternoon in Beijing, a source familiar with the matter said. It was not immediately clear if Musk met Li Qiang during the trip. Tesla had previously sought a meeting for Musk with Li, Reuters reported in March. Musk left Shanghai on Thursday morning, wrapping up a two-day trip to China in which he also met a key battery supplier and visited Tesla's Shanghai factory.

Persons: Elon Musk, Tom Zhu, Grace Tao, Tingshu Wang, Ding Xuexiang, Tesla, Ding, Xi Jinping, Li Qiang, Musk, Li, Julie Zhu, Zhang Yan, Brenda Goh, Sophie Yu, Edwina Gibbs Organizations: Tesla, Tesla's, REUTERS, Tesla Inc, State, Information Office, Reuters, Thomson Locations: Beijing, China, HONG KONG, Shanghai, Tesla's Shanghai

☆ Elon Musk wraps up whirlwind China trip
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, June 1 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk departed Shanghai Thursday morning, wrapping up a two-day trip to China in which he met government ministers, a key battery supplier and visited the automaker's biggest production hub. Photos of Musk's visit to Tesla's Shanghai factory late Wednesday showed him holding up a "Giga Shanghai" sign, flanked by hundreds of staff including head of global manufacturing Tom Zhu. "A very rewarding day!," Grace Tao, Tesla's China-based public affairs chief, said in a social media post with the photos. Earlier in the trip, Musk met with China's foreign, commerce and industry ministers in Beijing where he also dined with the chairman of battery supplier Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ). The industry ministry only said Musk and its head exchanged views about development of electric vehicles and connected cars; the commerce ministry announced he discussed Tesla's development in China with its minister.

Persons: Elon Musk, Tom Zhu, Grace Tao, Musk, Brenda Goh, Zhang Yan, Nicoco Chan, Edwina Gibbs Organizations: Tesla Inc, Amperex Technology Co, U.S ., Thomson Locations: SHANGHAI, Shanghai, China, Beijing, U.S, Shanghai's Hongqiao, Austin , Texas

[1/3] Tesla Chief Executive Officer Elon Musk stands near Chinese Commerce Minister Wang Wentao before leaving the Chinese Ministry of Commerce in Beijing, China May 31, 2023. Billionaire Elon Musk has been showered with praise by the Chinese public during his trip to China and while also securing audiences with three government ministers. "Elon Musk is just great, if only China could have someone like Elon Musk," said another. Musk's unannounced trip is the latest by a major U.S. CEO to China since the country reversed its zero-COVID policy and reopened its borders. The commerce ministry also did not respond to a request for comment.

Persons: Elon Musk, Wang Wentao, Tingshu Wang, Ma, Billionaire Elon Musk, Zeng Yuqun, Jin Zhuanglong, hasn't, Musk, Elon, Tim Cook, JP Morgan's, Jamie Dimon, Laxman Narasimhan, CATL's Zeng, Tesla, CATL, Martin Pollard, Josh Arslan, Wang Tingshu, Joe Cash, Zhang Yan, Brenda Goh, Edwina Gibbs Organizations: Tesla, Commerce, Chinese Ministry of Commerce, REUTERS, Tesla Inc, Fu Yan, Twitter, Shanghai, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, U.S, Shanghai, United States

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