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German national Jian G, who worked for AfD MEP Maximilian Krah, was arrested by Saxony State criminal police in Dresden and had his residences searched, the prosecutor’s office said early Tuesday. The aide was later suspended by the European Parliament, a spokesman for the body told CNN. Prosecutors said he passed on information about “negotiations and decisions in the European Parliament” to China in January. The far-right AfD party has nine seats in the European Parliament, and is competing alongside Germany’s traditional parties in the European elections in June. The Federal Prosecutor’s Office said the homes and workplace of the trio were searched in Düsseldorf and Bad Homburg.

Persons: Jian G, Maximilian Krah, ”, Jens Schlueter, Jian, “, Krah, Nancy Faeser, Thomas R, – Herwig, Ina F, –, Wang Wenbin Organizations: CNN, Prosecutors, International Trade, Security, Defence, Foreign Trade, Federal Prosecutor’s Office, Ministry of State Security, ” Ministry of Foreign Affairs, Crown Prosecution Service Locations: China, Europe, Saxony, Dresden, Germany, United States, Bad Homburg

CNN —Three people in Germany have been arrested under suspicion of spying for China, while two people have been charged in the United Kingdom for espionage offenses. “Allegations suggest the suspects have had ties to a Chinese secret service since before June 2022,” the German prosecutor’s office said in a statement. The couple are accused of buying and exporting a specialized laser to China without authorization, violating European Union regulations. Germany’s justice minister Marco Buschmann congratulated the prosecutor’s office in a post on social media platform X, writing that the arrests highlighted the need to stay vigilant. Separately in the UK, Britain’s Crown Prosecution Service (CPS) announced charges against two men who allegedly breached the UK’s Official Secrets Act on behalf of China.

Persons: Thomas R, Thomas, Herwig, Ina F, Marco Buschmann, Nick Price Organizations: CNN, Federal Prosecutor’s Office, Foreign Trade, Ministry of State Security, Britain’s, Prosecution Service, CPS, Terrorism, Crown Prosecution Service, Metropolitan Police, ’ Locations: Germany, China, United Kingdom, Westminster, London

☆ Author Maryse Conde, winner of ‘alternative’ Nobel Literature Prize, dies at 90
▼ + stars: | 2024-04-03 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Paris (Reuters) — Guadeloupe-born author Maryse Conde, who wrote about colonialism, slavery and the French-Caribbean diaspora, died in southern France on Monday at the age of 90. Often cited as a potential winner of the Nobel prize for literature, Conde was awarded the New Academy Prize in Literature in 2018, created after the Swedish Academy postponed that year’s literary Nobel in the aftermath of a rape scandal. “A literary giant, Maryse Conde paints a picture of sorrow and hope, from Guadaloupe to Africa, from the Caribbean to Provence. “Segu” won Conde several awards, including a Fulbright scholarship, and she went on to teach literature at Columbia University in New York, several other US universities and at the Sorbonne in Paris. French Foreign Trade and Language minister Franck Riester said Conde was a leading light of French literature and theatre.

Persons: Maryse Conde, Conde, Emmanuel Macron, “, ” Conde, “ Segu ”, Salem, Mamadou Conde, Richard Philcox, Philcox, Franck Riester Organizations: Paris, —, New, Swedish Academy, New Academy, Columbia University, Sorbonne, Agence France, Presse, Foreign Trade Locations: — Guadeloupe, French, Caribbean, France, Guadaloupe, Africa, Provence, Mali, Brazil, New York, Paris, Pointe, Guinean, Apt

☆ Russia says its economy is off to a — mostly — roaring 2024
▼ + stars: | 2024-04-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The Central Bank of Russia is maintaining a 16% interest rate due to a thriving economy. AdvertisementRussia's economy is running so hot the Central Bank of Russia is holding rates at 16% to keep inflation in check. Even the Russian central bank appeared to be taken aback by how well the economy was doing. Consumer sentiment is also positive and people are increasingly inclined to make large purchases, according to the Russian central bank. On Friday, Russia's central bank said it sees limited options other than the Chinese yuan for its reserves.

Persons: —, Elvira Nabiullina Organizations: Central Bank of Russia, Service, International Monetary Fund Locations: Russian, Ukraine, Russia, Russia's

☆ China’s Xi meets American CEOs to boost confidence in world’s second largest economy
▼ + stars: | 2024-03-27 | by ( Laura He | Wayne Chang | ) edition.cnn.com time to read: +3 min

Foreign direct investment in China has slumped in recent months as a combination of slower growth, regulatory crackdowns, onerous national security legislation and questions about the country’s long-term growth prospects have shaken confidence in the world’s second biggest economy. But global investors remain wary of China’s rising scrutiny of Western companies as well as a structural slowdown. In the first two months of 2024, foreign direct investment (FDI) into the country shrank nearly 20% from a year ago, underscoring weak confidence among global executives. Another gauge of FDI — direct investment liabilities — showed a 82% slump in 2023, according to figures released by the State Administration of Foreign Exchange. China has set this year’s economic growth target at around 5%, the same as last year’s.

Persons: Xi Jinping, Cristiano Amon, Raj Subramaniam, Stephen Schwarzman Organizations: Taipei CNN, Qualcomm, FedEx, Blackstone, of, International Monetary Fund, World Bank, China Development, Commerce Ministry, State Administration of Foreign Exchange, American Chamber of Commerce Locations: China, Hong Kong, Taipei, Beijing, United States

☆ US reindustrialization will be the top investment theme of coming decades, RBA says
▼ + stars: | 2024-03-23 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The "US industrial renaissance" will be the top investment theme of the coming decade, Richard Bernstein Advisors said. The trend of American companies shifting away from dependence on foreign labor and supply chains should dominate investment strategies in the coming decades the firm said. "The market is already rewarding the beneficiaries of this capital reallocation, but we expect years, if not decades, of further performance from this critical investment theme," RBA president Richard Bernstein said in a note this week. For the US, that means big investment in infrastructure on manufacturing will be needed in the coming years as the world reorients. "The market has already recognized the re-industrialization investment theme despite investors' myopia with respect to more exciting technology-related themes, like artificial intelligence.

Persons: Richard Bernstein, Overreliance, Bernstein, — Organizations: Richard Bernstein Advisors, Service, Republicans Locations: America

☆ China’s exports jump thanks to demand from India, Russia and other emerging markets
▼ + stars: | 2024-03-07 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China registered a surprise jump in foreign trade at the start of the year, partly because of strong demand from Russia, India and emerging markets in Africa and Latin America. China’s economy is battling a number of headwinds, including weak consumer and investor confidence, high youth unemployment and a long-running real estate crisis. Apart from the weak base effect, strong demand from emerging markets helped China’s trade surge at the start of the year. Meanwhile, China’s exports to Russia increased 12.5%, representing a slowdown from the rapid growth seen last year. “At the current juncture, it is likely too soon to call for a revival in China’s trade sector,” said HSBC analysts on Thursday.

Persons: ”, Nomura, “, Lynn Song, Biden, Wang Wentao Organizations: Hong Kong CNN, Exports, European Union, “, HSBC, Greater China, ING, European Commission, Wall Street Locations: Hong Kong, China, Russia, India, Africa, Latin America, Moscow, United States, Japan, Australia, Greater

But the de minimis rule also has powerful defenders. China's exports grew only 0.6% last year, but the bright spot was cross-border e-commerce, which includes but is not limited to the de minimis packages. In a January meeting with Mayorkas, the National Council of Textile Organizations complained about unfair trade practices, including the de minimis rule. It is unclear how much fentanyl and other illicit drugs may be slipping undetected into the country in the small packages. On a recent Friday morning at Chicago's O'Hare airport, small parcels that had arrived by mail from overseas were on conveyor belts going through X-ray machines for inspection.

Persons: Lindsey Puls, Puls, ”, Alexander Mayorkas, Earl Blumenauer of, ” Blumenauer, Sen, John Thune, LaFonda Sutton, Burke, Charles Benoit, Benoit, Mayorkas, Videojournalist Melissa Perez Winder, Haleluya Hadero Organizations: WASHINGTON, Will, Homeland, National Foreign Trade Council, FedEx, UPS, DHL, eBay, South Dakota Republican, Customs, Custom, China’s Communist Party, Coalition for, Prosperous, National Council of Textile Organizations, National Association of Police, Border Protection, Investments Locations: China, U.S, Shiocton , Wisconsin, Earl Blumenauer of Oregon, Shein, Singapore, Chicago, United States, Prosperous America, Chicago's, New York

☆ China vows to help its EV champions succeed overseas despite threats of sanctions
▼ + stars: | 2024-02-07 | by ( Laura He | ) edition.cnn.com time to read: +3 min

On Wednesday, China’s Commerce Ministry posted a document signed late last year by nine government agencies, including the Foreign Ministry and the central bank, vowing to support Chinese EV makers with their globalization push. It also encouraged Chinese EV companies to cooperate with foreign manufacturers in technology and build supply chains that can benefit everyone. Chinese EV makers are taking the world by storm, even if they are largely locked out of key markets like the United States. Chinese EV makers are seeking alternative growth engines overseas because the picture is gloomy at home. The flood of cheaper Chinese vehicles has triggered trade tensions with some countries.

Persons: “, Biden Organizations: Hong Kong CNN, China’s Commerce, Foreign Ministry, Chinese EV, Getty, EV, China Association of Auto Manufacturers, European Commission, Wall Street Locations: China, Hong Kong, Europe, United States, Chinese, China's Shandong, Australia, Southeast Asia, Japan, Shenzhen, Hungary

☆ China to help electric vehicle industry respond to foreign trade restrictions
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +1 min

Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on Jan. 14, 2024. China's commerce ministry said on Wednesday it would encourage the new energy vehicle industry to "actively" respond to foreign trade restrictions and cooperate with overseas firms, amid a European probe into Chinese subsidies for the sector. The ministry issued guidelines that also encouraged automakers to set up R&D and after-sales service centers abroad, to collaborate with foreign partners in building up supply chains, and to work more closely with shipping companies on transportation logistics. Under the measures, Chinese banks would be encouraged to expand domestic and overseas services for automakers and their supply chains, including the scale of cross-border RMB settlements. The ministry also said it would optimize export procedures for NEVs and batteries.

Locations: Chongqing, China

☆ Continuing engagement with Israel is 'very critical,' UAE trade official says
▼ + stars: | 2023-12-05 | 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 EmailContinuing engagement with Israel is 'very critical,' UAE trade official saysThani Al Zeyoudi, United Arab Emirates minister of state for foreign trade, discusses the country's trade agenda.

Persons: Thani Al Organizations: United Arab Emirates Locations: Israel, UAE, Thani Al Zeyoudi, United Arab

☆ North Korean special economic zone poised for revival in new Russia trade
▼ + stars: | 2023-11-29 | by ( Ju-Min Park | ) www.reuters.com time to read: +6 min

China accounted for 97% of North Korea's overall trade in 2022, according to South Korea's Korea Trade Investment Promotion Agency (KOTRA). But Russia resumed oil exports to North Korea in December 2022 and had exported 67,300 barrels of refined petroleum to North Korea by April, United Nations data shows, the first such shipments reported since 2020. "Assuming North Korea and Russia's honeymoon period becomes a long one, North Korea could get Russian support on food, energy and infrastructure through Rason," Cho said. Those ships are suspected of military supplies from North Korea to Russia, the reports said. From Rason's port, North Korea has sent Russia an estimated 2,000 containers suspected of carrying artillery shells, and possibly short-range missiles, South Korean military officials have told reporters.

Persons: Rason, Jeong Eunlee, Jeong, Lee Chan, Cho Sung, Cho, Alexander Kozlov, Chung Songhak, Chung, Kim Jong Un, Kozlov, Kim Il Sung, Abraham Choi, Choi, Rason . Lee, Lee, Josh Smith, Gleb Stolyarov, Gerry Doyle Organizations: North, South, Korea Institute for National Unification, Russian Federal Customs Service, South Korea's Korea Trade Investment Promotion Agency, United, Teikyo University, North Korean, Korean, Kremlin, Korea Institute for Security, South Korea's National Institute for Unification Education, Thomson Locations: SEOUL, Korean, Russia, Ukraine, China, North Korea, Rason, Korea, South Korea’s, Russian, South Korea's Korea, United Nations, Tokyo, South Korean, Pyongyang, Rason's, Soviet, North, South

☆ Biden and Xi's meeting sent an important signal for U.S. business in China
▼ + stars: | 2023-11-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

U.S. President Joe Biden and Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation summit in Woodside, California, on Nov. 15, 2023. Kevin Lamarque | ReutersBEIJING — U.S. President Joe Biden's meeting with Chinese President Xi Jinping last week has set a bottom line in the relationship which reduces uncertainty for businesses, analysts said. In conversations with Xi, Biden did not budge on export controls, enacted out of national security concerns. Wedding versus marriageAfter meeting Biden, Xi spoke at a dinner with top U.S. business executives in which he said the fundamental question was whether the two countries are "adversaries or partners." No 'splashy deliverables'Long-standing issues for U.S. business operations in China remain, and deals aren't made overnight.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Joe Biden's, Biden, Xi, Wang Dong, Jake Colvin, Gabriel Wildau, interlocutors, Ian Bremmer, Gary Dvorchak, it's, Jin Canrong, Jin, aren't Organizations: Economic Cooperation, Reuters, Reuters BEIJING —, Institute for Global Cooperation, Peking University, D.C, Foreign Trade Council, Summit, U.S, Biden, Eurasia Group, Mastercard, Monday, People's Bank of, Blueshirt Group, School of International Studies, Renmin University of China, Center for American Studies, Max, Boeing Locations: Filoli, Asia, Woodside , California, Reuters BEIJING, Reuters BEIJING — U.S, San Francisco, U.S, China, United States, Washington, Beijing, People's Bank of China, Taiwan

A large depreciation didn’t fully materialize; rather, the dollar’s value in the parallel retail market – popularly known as the “blue dollar” – increased some 13%. Milei, an outsider and right-wing populist, has also accused the Central Bank of recklessly printing money in order to fund public spending. The government has made access to foreign currency increasingly more stringent, which has caused the parallel market to flourish. “It isn’t exactly full, but there’s a lot in there,” she said, declining to provide her last name because trading foreign currency under the table is illegal. “Listening to the radio and looking on the internet, there isn’t any craziness about dollar, dollar, dollar,” he said.

Persons: Leandro Francisco Diana, Javier Milei, “, ”, Diana, Villa Crespo, Milei, Javier, Giselle, Argentina isn't, Maria Castiglioni, ” Castiglioni, Alexi Hoyos, Hoyos, ” Diana, videojournalist Mauricio Cuevas Organizations: U.S ., U.S, Central Bank, Radio Mitre Locations: BUENOS AIRES, Argentina, Buenos Aires, New York, Miami, Florida

☆ Analysis-Indo-Pacific Trade Deal Prospects Dim as 2024 US Election Year Politics Loom
▼ + stars: | 2023-11-17 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +4 min

By David LawderSAN FRANCISCO (Reuters) - The Biden administration has vowed to continue negotiating an ambitious Asia trade deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say. Deputy U.S. Trade Representative Sarah Bianchi told Reuters that IPEF partners will "recalibrate" the trade talks in 2024. But it gets harder from here, said Wendy Cutler, the former chief USTR negotiator on the Trans-Pacific Partnership trade deal with many of the same countries. "Until they do that, the trade pillar will be a tough nut to crack." The Biden administration launched negotiations in September 2022, leaving an impossibly tight deadline ahead of the APEC summit, according to some trade experts.

Persons: David Lawder, Biden, Sarah Bianchi, Wendy Cutler, TPP, Donald Trump's, Cutler, They're, Sherrod Brown, Jake Colvin, Colvin, Lori Wallach, Xi Jinping, Don Durfee, Josie Kao Organizations: FRANCISCO, Reuters, Economic, Economic Cooperation, U.S . Trade, Pacific Partnership, Asia Society Policy Center, APEC, Democratic, National Foreign Trade Council, Trans, Pacific Locations: Asia, Vietnam, Indonesia, Donald Trump's U.S, San Francisco, China

☆ China tells Britain to stop efforts to 'enhance' ties with Taiwan
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/ File photo Acquire Licensing RightsBEIJING, Nov 9 (Reuters) - The Chinese government on Thursday told Britain to stop its efforts to "enhance" ties with Taiwan after a high level meeting in London and the signing of a new trade agreement between the island and Britain. "We urge the UK to abide by the one-China principle and stop using trade cooperation as an excuse to engage in official exchanges or enhance substantive relations with Taiwan," it added. Britain and Taiwan both maintain de facto embassies in each other's capitals, but London does not officially recognise the democratically elected government in Taipei. Britain approved a sharp increase in exports of submarine parts and technology last year to Taiwan as it upgrades its naval forces, Reuters reported in March. Because of its diplomatic isolation and pressure from China, chip powerhouse Taiwan has few formal foreign trade agreements, though it is a member of the World Trade Organization and has free trade agreements with Singapore and New Zealand.

Persons: Dado Ruvic, Nigel Huddleston, Chen Chern, Ben Blanchard, Sam Holmes Organizations: REUTERS, Rights, Wednesday, Trade Partnership, British Trade, World Health Organization, Reuters, World Trade Organization, Beijing, Thomson Locations: Rights BEIJING, Britain, Taiwan, London, China's, Beijing, China, Taipei, Singapore, New Zealand

☆ Peru foreign minister resigns following US visit controversy
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

Peruvian Foreign Affairs Minister Ana Cecilia Gervasi attends a news conference regarding the asylum that Mexico has granted to the family of former President Pedro Castillo, in Lima, Peru, December 20, 2022. Reuters/Sebastian Castaneda/File Photo Acquire Licensing RightsLIMA, Nov 6 (Reuters) - Peru's foreign minister Ana Cecilia Gervasi resigned on Monday after less than a year, amid questions over how she handled President Dina Boluarte's visit last week to the United States. Gervasi made no reference to Boluarte's U.S. trip in her resignation letter, which was seen by Reuters and other media. In his resignation letter, he cited Boluarte's trip, stating he had been "responsible for preparing" it. Gervasi held various positions in government prior to joining Boluarte's cabinet, including deputy foreign minister, and vice minister of foreign trade.

Persons: Ana Cecilia Gervasi, Pedro Castillo, Sebastian Castaneda, Dina Boluarte's, Gervasi, Joe Biden, Alberto Otarola, Gustavo Meza Cuadra, Boluarte, Biden, Jose Cueto, Castillo, Marco Aquino, Isabel Woodford, Christian Plumb, Alison Williams, Rosalba O'Brien Organizations: Peruvian Foreign Affairs, Reuters, Rights, Alliance for Economic Prosperity, Thomson Locations: Mexico, Lima , Peru, United States, U.S, Boluarte, Americas, Washington

☆ Cuba seeks foreign investment, thumbing nose at US sanctions
▼ + stars: | 2023-11-06 | by ( Nelson Acosta | ) www.reuters.com time to read: +2 min

HAVANA, Nov 6 (Reuters) - Cuba hosted a business fair with over 800 companies from more than 60 countries on Monday as it lobbied for new investments, thumbing its nose at U.S. sanctions that have long spooked foreign companies from engaging with the communist-run island. "Today we work ...to minimize the negative impact of the economic, financial and commercial blockade," said Cuba foreign trade minister Ricardo Cabrisas at the forum's opening event. Cuban president Miguel Diaz-Canel told attendees "massive" participation at the fair this year was proof of business confidence in Cuba. The trade fair includes promotional stands from countries ranging from Spain to Russia, Iran and China. Foreign companies also complain that local regulations, bureaucracy and problems with the peso currency and payments also bog down business in Cuba.

Persons: Ricardo Cabrisas, Miguel Diaz, Canel, Diaz, Jay Brickman, Biden, Hugo Cancio, Cancio, Nelson Acosta, Dave Sherwood, Bill Berkrot Organizations: Reuters, Miami, U.S, DeCancio, Thomson Locations: HAVANA, Cuba, U.S, Cuban, Spain, Russia, Iran, China

☆ Trump waited until after he left office to disclose trademarks he owns in China and Russia
▼ + stars: | 2023-11-03 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

Donald Trump disclosed that he owns hundreds of foreign trademarks in his ethics filings this year. Trump owns 114 trademarks in China — more than any other country by far, including the US. (AP Photo/Alex Brandon)The final form Trump submitted during his presidency, dated January 15, 2021, disclosed Trump's financial interests in numerous overseas companies. The only indication of trademark holdings noted is his ownership of a company called "CHINA TRADEMARK LLC." AdvertisementAdvertisementIn his following OGE Form 278e form, filed on April 2023, as a presidential candidate, Trump disclosed a long list of foreign trademarks.

Persons: Donald Trump, Trump, —, Donald, Forbes, Alex Brandon, Joe Biden, Richard Painter, George W, Bush, Painter, who's, Joe Raedle, Ivanka Trump Organizations: Service, Hartsfield, Jackson Atlanta International Airport, Trump, Drinks Israel, United Arab Emirates, LLCs, The New York Times, Trump Tower, Times, Associated Press, Saudi Sovereign Wealth Fund Locations: China, Russia, Venezuela, Iran, Cuba, Belarus, United States, CHINA, United Kingdom, Ukraine, El Salvador, Mexico, France, Saudi Arabia, Turkey, Albania, sweeten, Saudi

☆ Rouble soars vs dollar as market gauges impact of latest US sanctions
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, Nov 3 (Reuters) - The Russian rouble soared on Friday as the market gauged the impact of Washington's latest sanctions against Moscow over the war in Ukraine, heading back towards a three-month high on the support of foreign currency sales and soaring interest rates. By 1455 GMT, the rouble was 1% stronger against the dollar at 92.39 , not too far from 91.6225, its strongest point since Aug. 1, hit on Wednesday. The rouble has now lost support from month-end tax payments, which were due on Monday and usually see exporters convert foreign exchange revenues to pay domestic liabilities. The rouble has strengthened from beyond 100 to the dollar since that decree was announced. "Sanctions may play a stabilising role for the rouble, helping the central bank fight inflation," Polevoy said.

Persons: Vladimir Putin's, Dmitry Polevoy, Polevoy, Alexander Marrow, Jacqueline Wong Organizations: Moscow, Brent, Reuters, Thomson Locations: MOSCOW, Russian, Ukraine, United States, Russia, Locko

☆ How overseas workers and SMEs are navigating the evolving cross-border payments landscape
▼ + stars: | 2023-11-01 | by ( Sponsor Post | Created Insider Studios With Mastercard | ) www.businessinsider.com time to read: +8 min

Cross-border payments have always faced challenges — and over the past few years, demand has increased significantly. Overseas workers and small businesses face barriers around international payments and remittances. Small businesses rely on cross-border payments for survivalWith consumers facing challenges around remittances, how are business owners faring when it comes to international payments? Marquard echoes findings from the report that traditional banking institutions have been slow off the mark when it comes to international payments. Read more about how overseas workers and SMEs are navigating the ever-changing payments landscape in Mastercard's borderless payments report.

Persons: —, Hal Ramakers, Alan Marquard, Marquard, Ramakers, It's, we've Organizations: Overseas, Mastercard, Asia —, Brightwell, Insider Studios Locations: Americas, Europe, East, Africa, Asia, India, UAE

We continue to encourage all countries to take tangible measures to halt the flow of arms, aviation fuel, and revenue to the military regime," U.S. Secretary of State Antony Blinken said in a separate statement. Canada imposed sanctions against 39 individuals and 22 entities for supporting Myanmar's military regime. The U.N. human rights expert for Myanmar in September called on the United States to further tighten sanctions on the country's military rulers to include the state oil and gas enterprise. Human rights advocates have repeatedly called for sanctions on MOGE, but Washington had so far held back. Myanmar military officials have played down the impact of sanctions.

Persons: Stringer, Washington, Antony Blinken, Brian Nelson, Simon Lewis, Daphne Psaledakis, Tim Gardner, Sarah Young, Ismail Shakil, Chizu Nomiyama, Rod Nickel Organizations: Army, Bank, REUTERS, Rights, Myanma, Gas Enterprise, U.S . Treasury Department, Reuters, Treasury, Financial, United Nations, Terrorism, Financial Intelligence, Chevron Corp, Chevron, Washington, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, Sky Royal Hero Company, General Staff, Myanmar's Army, Navy, Air Force, Thomson Locations: Yangon, Myanmar, United States, Washington, U.S, United Kingdom, Canada, Britain

☆ US Supreme Court turns away challenge to steel import tariffs
▼ + stars: | 2023-10-30 | by ( John Kruzel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +4 min

People visit the U.S. Supreme Court building in Washington, U.S., August 31, 2023. Biden's administration had urged the Supreme Court not to take up the appeal. PrimeSource appealed to the Supreme Court in July. The Supreme Court in March turned away a challenge to the 2018 tariffs by a group of U.S.-based steel importers. The justices in 2022 refused to hear a separate challenge by steel companies to Trump's 2018 decision to double tariffs on steel imports from Turkey, also on national security grounds.

Persons: Kevin Wurm, Donald Trump, Irving, Joe Biden's, Wilbur Ross, Trump, Judge Richard Taranto, PrimeSource, John Kruzel, Will Dunham Organizations: U.S, Supreme, REUTERS, Rights, Trump, Commerce, Congress, Court of International Trade, White, Appeals, Federal Circuit, Trade, European Union, Thomson Locations: Washington , U.S, Irving , Texas, United States, St, Louis, Oman, Manhattan, Washington, China, Turkey

That decision gives U.S. officials new sway over companies in the Netherlands and Japan, where some of the most advanced chip machinery is made. In particular, U.S. rules will now stop shipments of some machines that use deep ultraviolet, or DUV, technology made mainly by the Dutch firm ASML, which dominates the lithography market. Peter Wennink, the chief executive officer, said that it was “just a handful” of Chinese chip factories where the company would not be able to ship certain tools. But “it is still sales that we had in 2023 that we’ll not have in 2024,” he added. ASML’s technology has enabled leaps in global computing power.

Persons: Vera Kranenburg, ASML, “, ”, Peter Wennink, we’ll, Liesje Schreinemacher Organizations: Clingendael Institute, U.S . Department of Commerce Locations: Netherlands, Japan, U.S, China, Dutch, 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

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