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☆ India's race to overtake China will intensify after Modi's reelection because they have the same obsession, analyst says
▼ + stars: | 2024-06-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewIndian Prime Minister Narendra Modi this week secured a historic third term in office — and it's likely to intensify India's economic rivalry with China. Both India and China will be focused on manufacturingTo reach its goal, Modi's India will likely be going big on manufacturing. Companies are diversifying their operations outside China to avoid over-relying on one country, and India is aiming to be the new China. AdvertisementIndia's foreign policy toward China is unlikely to change following Modi's re-election, Ivan Lidarev, an Asian security scholar at King's College London, told Channel NewsAsia. "I think India has strived to position itself as a leader of the global south, and of course, China wants this position," added Lidarev.

Persons: —, Narendra Modi, David Lubin, Modi, Xi Jinping, Bharat, Lubin, Raghuram Rajan, NPR's, Rajan, It's, William Lai's, Mao Ning, Ivan Lidarev Organizations: Service, London, Business, South, Central Bank of India, EV, King's College London, West Locations: —, China, Asia, India, Vietnam, Bangladesh, Malaysia, Delhi, Taiwan, Beijing

☆ India wants to be the new China. Modi's shock election result shows it won't be easy.
▼ + stars: | 2024-06-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The growth is in part thanks to a shift in supply chains and investment flows as companies try to stop relying solely on China. India's stock markets tanked on the shock election results, with the benchmark Sensex index crashing over 5% in one day on Tuesday following the news. Despite the knee-jerk reaction, most analysts are optimistic about India's economic outlook given that Modi is still in charge. He said India will do better to capitalize on its services industry, especially since so many Indians are English speakers.

Persons: —, Narendra Modi's, Modi, Atman Trivedi, China, Council's Trivedi, Vishnu Varathan, Raghuram Rajan, NPR's, It's, Rajan Organizations: Service, Indian, Business, Bharatiya Janata Party, —, Atlantic, Asia Center, Centre, Monitoring, Coalition, Albright, Group, Mizuho Bank, United Nations Population Fund, University of Chicago Booth School of Business, Central Bank of India, International Monetary Fund Locations: China, India, Communist China, Asia, Japan

☆ Zhongnanhai: The scenic garden that became China’s secretive seat of power
▼ + stars: | 2024-05-25 | by ( Jonathan Chatwin | ) edition.cnn.com time to read: +18 min

As the seat of power, Zhongnanhai is often thought of as China’s equivalent to the White House, or the Kremlin. Architectural changesThere have been serious revisions to the architecture of Zhongnanhai since the end of imperial rule in 1912. Having re-established Zhongnanhai as a center of political power in the new China, Mao set about rebuilding the compound according to his tastes. “It was here,” noted Aldrich, “with the background trappings of a scholar, that he met Nixon and Kissinger in 1972.”Most subsequent leaders have preferred to keep a house outside the Zhongnanhai compound. However, the compound hasn’t always been so forbidden for the masses following the collapse of China’s imperial dynasty.

Persons: Jonathan Chatwin, “, Deng Xiaoping, Leung Chun, Xi Jinping, Simon Song, Xi Jinping’s, Ming, Geremie Barmé, Qianlong, Feng Li, ” Linda Jaivin, ”, Dowager Cixi, Zhongnanhai, Cixi, Dowager, M, Aldrich, Mao Zedong, ” Aldrich, China’s, Yuan Shikai, Yuan Shikai ‘, William Lewisohn, Xinhuamen, William Cooper, —, Qianlong Emperor, Yuan, Invincible Mao, — Mao, Kangxi, Mao, Zhou Enlai, Chen Yi, Zhang Wentian, Nikita Khrushchev, Khrushchev, Nixon, Kissinger, Hu Jintao, Jiang Zemin, Newscom Aldrich, Mao’s, Li Zhisui, Xi, Chicago's Walter, Hu Yaobang, Gong, “ Heck Organizations: CNN, Bell, Communist Party, CCP, White, Hong, China Morning, University of Bristol Library, Great Communist Party of China, ”, Shuangqing Villa, Alamy, State Council, China’s Politburo, Huairen, Chicago's Walter Payton College Preparatory, New York Times, Zhongnanhai, Bloomberg Locations: Modern China, Prospect, Tiananmen, Hong Kong, Zhongnanhai, City, China, Beijing, “, People’s Republic, New China, Arlington, Peking, Xinjiang, Russian, Beihai, Beijing’s, Huairen, Qinzheng Hall

☆ It's so tough to pay cash in China that the government had to fine a KFC for not accepting banknotes
▼ + stars: | 2024-05-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

China has mandated that local businesses leave the door open for cash payments as it tries to attract foreign investment and tourism after the pandemic. AdvertisementHungry for foreign business, China has rushed to bridge the gap. Major payment platforms Alipay and WePay started allowing visitors to link their international bank cards to their Chinese accounts. It's illegal in China to reject cash for purchases, and the central government's crackdown has intensified in the last several years. Investor relations for Yum China, which operates KFC in China, did not immediately respond to a request for comment sent by Business Insider.

Persons: —, WePay Organizations: Service, KFC, People's Bank of China, Business, China Post, New China Life Insurance, PICC, Regulators, Yum Locations: Beijing, Wuxi, Jiangsu, Mongolia, China, Gansu, New, Shanghai, Tourism, Yum China

☆ Congressman John Moolenaar on China tariff hike: This is simply 'leveling the playing field'
▼ + stars: | 2024-05-15 | 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 EmailCongressman John Moolenaar on China tariff hike: This is simply 'leveling the playing field'Congressmen John Moolenaar and Raja Krishnamoorthi join CNBC's 'Squawk Box' to discuss why the Biden administration's new China tariff hike should receive bipartisan support, how this move could protect American industries, why TikTok should not be controlled by the Chinese Communist Party, and more.

Persons: John Moolenaar, Raja Krishnamoorthi, Biden Organizations: Chinese Communist Party Locations: China

☆ Former Commerce Secretary Carlos Gutierrez on the impact of new China tariffs
▼ + stars: | 2024-05-14 | 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 EmailFormer Commerce Secretary Carlos Gutierrez on the impact of new China tariffsFormer U.S. Commerce Secretary Carlos Gutierrez joins 'Money Movers' to discuss the category of new tariffs Gutierrez finds most interesting, the strategy to target electric vehicles, and more.

Persons: Carlos Gutierrez, Gutierrez Organizations: Former, Former U.S . Commerce Locations: China

☆ Jim Cramer talks the White House's new China EV tariffs
▼ + stars: | 2024-05-14 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer talks the White House's new China EV tariffs'Mad Money' host Jim Cramer digs into today's market action and the impact of EV tariffs on U.S. automakers.

Persons: Jim Cramer Organizations: U.S Locations: China

☆ New Biden tariffs on China's EVs, solar, medical supplies reportedly due Tuesday
▼ + stars: | 2024-05-11 | by ( ) www.cnbc.com time to read: +1 min

But it will also add new tariffs to semiconductors and solar equipment, according to one of the people, as well as hiking EV tariffs. Chinese-made medical supplies like syringes and personal protective equipment also face additional tariffs, sources told Reuters. The long-awaited tariff update comes after a number of lawmakers have called for massive hikes on Chinese vehicle tariffs. Tariffs on Chinese EVs will roughly quadruple under the new Biden plan, the Wall Street Journal reported, citing people familiar with the matter. Senate Banking Committee Chairman Sherrod Brown wants the Biden administration to ban Chinese EVs outright, over concerns they pose risks to Americans' personal data.

Persons: Joe Biden, Donald Trump, Biden, Sherrod Brown Organizations: Gateway Technical College, Reuters, Wall Street Journal, U.S . Trade Locations: Sturtevant , Wisconsin, U.S, China

☆ Japan Is a Preview of China's Ugly Recession, Stock Market Crash
▼ + stars: | 2024-03-31 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

But Japan's economy — the long-unconscious patient — recently started to wiggle its toe. The country's stock market is ripping; the Nikkei recently exceeded the all-time highs it set 34 years ago. Now, Koo says, Chinese academics and policymakers are flocking to Japan to glean some kind of wisdom from the country's experience. Advertisement"This has made Japan attractive for foreign investors, and the stock market has done well," Koo said. Even without a currency war with Beijing, the world is building defenses against another wave of Chinese goods.

Persons: —, Goldman Sachs, there's, Nomura, Richard Koo, Koo, Shinzo Abe, Japan's, What's, it's, we're, haven't, Xi Jinping, doesn't, Xi, we've, Brasília Organizations: Nikkei, Goldman, Bank of Japan, Corporations, International Monetary Fund, Japan, Peterson Institute, European Union, China Locations: East Asia, China, Japan, Real, Tokyo, Beijing, Brussels, Brasília, American, Washington, Brazil, Turkey

☆ Trump 2.0 would threaten Mexico's new status as America's top trade partner
▼ + stars: | 2024-03-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

A second Trump presidential term poses a risk to Mexico's status as the US's top trade partner. According to Capital Economics, Trump 2.0 threatens Mexico's newly gained status. In a Tuesday note, Capital Economics strategists said much of the impact would hinge on whether the US-Mexico-Canada Agreement (USMCA) deal remains intact. To Capital Economics, Mexico is one of the most vulnerable emerging markets as far as repercussions to this potential move. Mexico's trade with the US accounts for about one-third of its GDP.

Persons: Trump, —, Donald Trump, USMCA Organizations: Trump, Capital Economics, Service, Capital, North America Free Trade, US Alliance of Automobile Manufacturers Locations: Mexico, China, Canada, US, shoring

☆ Apple reaches $490 million settlement over Tim Cook's China sales comments
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +2 min

Tim Cook, chief executive officer of Apple Inc., speaks during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 6, 2022. Apple has reached a $490 million settlement to resolve a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China. A preliminary settlement was filed on Friday with the U.S. District Court in Oakland, California, and requires approval by U.S. District Judge Yvonne Gonzalez Rogers. Apple posted $97 billion of net income in its latest fiscal year, and its payout equals a little under two days of profit. The case is In re Apple Inc Securities Litigation, U.S. District Court, Northern District of California, No.

Persons: Tim Cook, Yvonne Gonzalez Rogers, Cook, Shawn Williams, Rogers, Apple Organizations: Apple Inc, Apple Worldwide, Apple, U.S, Norfolk Pension Fund, Apple Inc Securities Litigation, Court, Northern District of Locations: Cupertino , California, China, Oakland , California, Brazil, India, Russia, Turkey, Norfolk, Norwich, England, Northern District, Northern District of California

☆ The global trade system has already started planning for potential Trump win, new China tariffs
▼ + stars: | 2024-03-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

The Trump administration used delegated authorities under three trade laws to unilaterally levy tariffs without Congressional approval. The Trump administration tariffs kickstarted a shift in supply chain strategy which, according to Frank, became more well-developed by customers during Covid, when they contemplated moving factories and production out of China. He expects any increase in tariffs during a second Trump presidency to lead to a greater shift in trade from China to Mexico to avoid the tariffs. "If you charge tariffs to China, they're going to build ... their car plants here and they're going to employ our people," Trump said. S&P Global research shows that China's share of the imports of products covered by tariffs imposed by the Trump administration has dropped.

Persons: Donald Trump, Trump, Niki Frank, Frank, Beth Whited, they'd, Paul Brashier, Chris Rogers, Biden, Rogers, Jon Gold, John Taylor IV, Taylor, Peter Boockvar, Critics, it's, that's Organizations: United, Canada Trade, White, CNBC, Global, Trump, China, Biden, OF DHL, Union, Canadian Pacific, Canadian Pacific Kansas City, Union Pacific, ITS Logistics, P Global, Vietnam, National Retail Federation, Berlin Packaging, Trade, Bleakley Financial, ASEAN Locations: United States, Mexico, Canada, Washington , DC, U.S, OF DHL Asia, Long Beach , California, China, Union Pacific, Canadian Pacific Kansas, East, West, Vietnam, Malaysia, South Korea, CNBC Mexico, Europe, Thailand, Indonesia

☆ China's economy looks like a mess — but some sectors are quietly doing well in its '2-speed economy'
▼ + stars: | 2024-02-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Meanwhile, its financial markets are bleeding, the property market has gone up in smoke, local government debt appears alarming, and foreign investors are exiting in droves. Real estate — which was a huge part of China's economy — has been hit badly, he said. AdvertisementTravel has picked up after years of pandemic lockdownServices is another pillar of China's economy that Beijing has been trying to build up. AdvertisementThis is in part because new growth industries are not able to take the place of real estate — yet. Because the property market accounts for one-quarter of China's GDP and more than two-thirds of household wealth, its overall drag on China's economy is much greater than whatever is doing well right now.

Persons: —, Rory Green, GlobalData.TS Lombard, AllianceBernstein, John Lin, Lin, Donald Trump's, Louise Loo, Wood Mackenzie, AllianceBerstein's Lin, Nomura, Loo Organizations: Service, Business, Bloomberg TV, Oxford Economics, Nomura, Oxford Locations: China, GlobalData.TS, Real, COVID, Beijing, Europe, Taiwan, South Korea

☆ India is the new Asia growth story. Here’s why investors are bullish on the outlook
▼ + stars: | 2024-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

As China's property market and deflation woes continue to rattle investors, India's growth outlook appears all the more impressive. Last year's annual report attributed strong revenue growth partially to expansion in the Middle East, India, and Asia, Krishna wrote. "More than revenue, India is an important area for sourcing talent" as well, Krishna wrote. Growth potential For investors looking to gain exposure to the domestic stock market, Indian equities themselves aren't especially cheap though. "You're paying for the growth potential in India, certainly.

Persons: Morgan Stanley, Chetan Ahya, Ahya, Bernstein, —, Narendra Modi, Bill Fitzpatrick, Fitzpatrick, Quincy Krosby, Venu Krishna, Aecom, Krishna, Tim Long, Long, Simon Coles, Krosby, Jeffrey Gundlach, Gundlach, CNBC's, — CNBC's Michael Bloom Organizations: Investment, Logan Capital Management, Modi, Infrastructure Pipeline, Aecom, Barclays, Cisco Systems, Juniper Networks, India —, Semiconductor, Micron Technology, Qualcomm, Logan Capital Locations: India, China, Asia, Philadelphia, South Carolina . U.S, Dallas, East, Asia Pacific, Japan, Coles , U.S, U.S, IShares

☆ New China Defence Minister Holds Video Talks With Russia's Shoigu
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - China's new defence minister Dong Jun held a video call with his Russian counterpart Sergei Shoigu on Wednesday, according to a defence ministry statement, in his first public engagement since being appointed last month. Former Navy chief Dong's appointment came after his predecessor, Li Shangfu, disappeared from public view in August, throwing China's military diplomacy in doubt. The role of China's defence minister is to be the public face of the People's Liberation Army in its engagement with the media and with other armed forces. China and Russia's close military ties have been the target of Western scrutiny, especially after Russia's 2022 invasion of its neighbour Ukraine, which China has refused to condemn. Western countries, including the United States, have repeatedly warned China not to provide lethal aid to Russia's battlefield efforts.

Persons: Dong Jun, Sergei Shoigu, Li Shangfu, Dong, Shoigu, Laurie Chen, Christopher Cushing, Sharon Singleton Organizations: Former Navy, People's Liberation Army, United States, U.S Locations: BEIJING, Russian, China, Ukraine, United States, Japan, South Korea, Taiwan, South China, Beijing

☆ Cramer: Costco not done 'saturating the world' as new China store lures massive crowds
▼ + stars: | 2024-01-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

Wholesale retailer Costco has a high-quality problem on its hands, CNBC's Jim Cramer said Friday in response to the "shopping frenzy" at its new China store. Costco, the membership-only global wholesale retailer who has a majority of stores in the United States, is not done "saturating the world," Jim Cramer said Friday. "If you have thousands of people for a new store, I think you have room for more Costcos," he added. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, has a stake in Costco. Here's a full list of the stocks in Jim's Charitable Trus t, the portfolio used by the CNBC Investing Club.

Persons: CNBC's Jim Cramer, Jim Cramer's, Jim Cramer, Costco's Organizations: Costco, Bloomberg, Cramer's Charitable Trust, CNBC, Here's Locations: China, Costco's, Shenzhen, United States, Cramer's

☆ Monday's analyst calls: 30% upside for GM, Carvana upgrade, Anheuser-Busch downgrade
▼ + stars: | 2023-12-04 | by ( Brian Evans | ) www.cnbc.com time to read: +7 min

So far this morning there is a big auto stock upgrade and a big beverage downgrade, among other calls. Morgan Stanley dimmed its view on Citizens Financial , downgrading the stock to equal weight from overweight but maintained its $31 per share price target, implying roughly 9% upside. The firm made the chipmaker its top large cap pick on Monday, and reiterated an overweight rating alongside a $620 per share price target. The analyst raised his price target from $25 to $40, which represents 14% upside. "We continue to see ABI's broadly EM focused sales exposure as attractive combined with the company's market leading market share positions," analyst Mitch Collett said.

Persons: Morgan Stanley, Manan, Brian Evans, Piper Sandler, Piper Sandler's, Harsh Kumar, Kumar, Wells, Ike Boruchow, Boruchow, — Brian Evans, JPMorgan's Rajat Gupta, Carvana, John Melloy, Bud Light, Mitch Collett, Vijay Rakesh, Rakesh Organizations: CNBC, East West Bancorp, Citizens Financial, Citizens, West Bancorp, Nvidia, TAM, Wells, JPMorgan Carvan, JPMorgan, Deutsche Bank downgrades Anheuser, Busch, Deutsche Bank, Anheuser, Busch InBev, Staples, Beverages, Mizuho Securities Mizuho Securities, General, United Auto Workers, GM, Vehicles, UAW Locations: China, Wells, Friday's, North America, N.A

The California-based AI chip giant had been expected to launch the new products as early as Nov. 16, chip industry newsletter SemiAnalysis reported this month. However, the H20 launch has now been pushed back until the first quarter of next year, the sources said, with one saying they were advised it could take place in February or March. In addition to the H20, Nvidia has been planning two other chips to comply with new U.S. export rules - the L20 and L2. The sources said the L20 was not facing delays and would launch according to its original schedule. Chinese internet giant Baidu (9888.HK) placed a sizeable order for Huawei AI chips this year, Reuters reported this month citing sources.

Persons: Dado Ruvic, Baidu, Fanny Potkin, Yelin, Brenda Goh, Jamie Freed Organizations: NVIDIA, REUTERS, Rights, Nvidia, Huawei, U.S, Baidu, HK, Reuters, Thomson Locations: Rights SINGAPORE, BEIJING, China, The California, U.S, Singapore, Yelin Mo, Beijing, Shanghai

Nvidia is the world's largest maker of chips used both for artificial intelligence and for computer graphics. Demand for its chips jumped following the release of the generative AI application ChatGPT late last year. Its graphics cards (GPUs) are high-performance devices that enable powerful graphics rendering and processing for use in video editing, video gaming and other complex computing operations. The French watchdog raided Nvidia's local office in September, a person familiar with the matter had told Reuters. Separately, Nvidia has delayed the launch of a new China-focused AI chip, two sources familiar with the matter told Reuters.

Persons: Foo Yun Chee, Susan Fenton Organizations: Regulators, European Union, Nvidia, French Competition Authority, Reuters, Thomson Locations: BRUSSELS, China, France, U.S, California

☆ Why Nvidia's outlook will command the spotlight during next week's earnings report
▼ + stars: | 2023-11-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Wall Street expects Nvidia (NVDA) to deliver another strong quarterly report Tuesday, as its cutting-edge artificial intelligence chips remain a hot, hard-to-get commodity. The recent trading in Nvidia's stock reflects that optimism, with shares up nearly 20% in November alone. "I don't like the so-called setup," Jim Cramer said, referring to the huge run-up in shares ahead of earnings. It's one piece of evidence behind investors' belief that Nvidia's upcoming earnings report will clear the high bar that's been set. Microsoft hasn't officially disclosed how the Maia 100's performance compares with Nvidia's top-end AI chip and AMD's MI300.

Persons: Jim Cramer, Jim, he's, —, Goldman Sachs, LSEG daa, Goldman, Morgan Stanley, workloads, Maia, Microsoft hasn't, BofA, Jim Cramer's, Hsun Huang, Patrick T Organizations: Nvidia, LSEG, Investor, Microsoft, Big Tech, Goldman, Street, Financial Times, Micro Devices, Wednesday, Google, Web Services, Bank of America, AMD, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Los Angeles , California

☆ Tencent says has Nvidia AI chip stockpile but seeking to buy domestic
▼ + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

Tencent has enough Nvidia chips to continue development of its "Hunyuan" AI model "for at least a couple more generations", so the curbs will not affect near-term AI capability, Lau said. "We will have to figure out ways to make the usage of our AI chips more efficient," he said. "And we will also try to look for domestic sources for these training chips." "We feel that the chip ban does actually affect our ability to resell (use of) these AI chips through our cloud services," he said. Nvidia plans to market new China-bound AI chips, with an announcement on Nov. 16 at the earliest, industry newsletter SemiAnalysis reported last week.

Persons: Aly, Martin Lau, Lau, We'll, SemiAnalysis, Josh Ye, Jane Merriman, Christopher Cushing Organizations: Artificial Intelligence, REUTERS, Tencent Holdings, HK, Nvidia, Huawei Technologies, Reuters, Baidu, Huawei, Thomson Locations: Shanghai, China, HONG KONG, U.S

☆ China versus India: The pros explain why they prefer one — and share their stock picks
▼ + stars: | 2023-11-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Which economic giant should emerging markets investors go for: China or India? India is the "best structural growth opportunity" in emerging markets, according to Malcolm Dorson, head of emerging markets strategy at Global X ETFs. LPL Financial's chief technical strategist, Adam Turnquist, added that India has emerged as an increasingly attractive alternative to China. Where and how to invest in India Investors could go for the "booming areas" in India — renewables such as hydrogen and solar energy, as well as agricultural tech, according to Sharma. But both Krosby and Dorson would advocate active management in emerging markets such as India, given political and economic complexities, among other reasons.

Persons: Malcolm Dorson, Morgan Stanley, Dorson, Quincy Krosby, Krosby, LPL, Adam Turnquist, Alejandra Grindal, Ned Davis, Rahul Sen Sharma, Sharma, Morningstar Organizations: Shenzhen Component, CNBC, Global, Chinese Communist Party, LPL, Ned, Ned Davis Research, India Investors, India, Hindustan Unilever, Nestle India, Jewelry, India Active Locations: China, India, Shenzhen, Asia, Beijing

☆ Kazakhstan welcomes France's Macron under Moscow's disapproving gaze
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Kazakh President Kassym-Jomart Tokayev shakes hands with French President Emmanuel Macron during a meeting in Astana, Kazakhstan November 1, 2023. Press service of the President of Kazakhstan/Handout via REUTERS ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. At a meeting with Kazakh President Kassym-Jomart Tokayev, Macron complimented Astana for refusing to side with Moscow on Ukraine and said the two countries planned to sign significant business deals. In addition to oil, Kazakhstan is a major exporter of uranium, and France's Orano already operates a joint venture with its state nuclear firm Kazatomprom. "We can call your visit historic, very important," Tokayev told Macron.

Persons: Kassym, Emmanuel Macron, Macron, Sergei Lavrov, France's, Tokayev, Tamara Vaal, Olzhas, Jason Neely Organizations: Press, Rights ASTANA, Kazakh, Astana, United Nations, Soviet Central, Foreign, Moscow, Thomson Locations: Astana, Kazakhstan, Handout, Central Asia, Ukraine, China, Europe, Russia, Moscow, Uzbekistan, Western, France

☆ Vietnam's real estate woes: how much worse can they get?
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

HANOI, Oct 26 (Reuters) - A rough year for Vietnam's real estate sector has seen developers miss interest payments on debt, amid a credit crunch spurred by ill-timed government measures, although spillover risk has been limited. Shares of the largest listed developer, Vinhomes (VHM.HM), part of the country's biggest conglomerate, Vingroup (VIC.HM), have fallen 13% this year. In September, the Asian Development Bank warned of potential spillover into banking from irregularities in corporate bonds and real estate markets, although troubled bonds made up just a small portion of total bank credit. While ill-timed government measures, companies' high debt and oversupply are responsible for the sectors' woes in both countries, conditions are different in Vietnam. Vietnam has a less acute situation of oversupply and speculation than China, he added, while real estate's contribution to its economy is also smaller.

Persons: Ho, Van Thinh Phat, Jean Xavier of S, Truong, Truong My Lan, Van Thinh, P's Xavier Jean, Francesco Guarascio @fraguarascio, Phuong Nguyen, Anne Marie Roantree, Clarence Fernandez Organizations: Dragon, Hung Thinh Corp, Moody's, Asian Development Bank, P Global, P, Southeast Asia Bank, Maritime Bank, Asia Commercial Bank, Vietnam Prosperity Bank, VP Bank, Bank, Van Thinh Phat Holdings Group, Thomson Locations: HANOI, Ho Chi Minh City, Vietnam, Phu, Hanoi, Southeast, Asia, Truong My, VIETNAM, CHINA, China

☆ Where we stand on Nvidia's latest China update and its potential foray into a new processor market
▼ + stars: | 2023-10-24 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

The company commands a dominant position in the market for chips used in AI model training. But the question that still lingers in our minds is whether that growth can be substantial enough to meet the lofty, multiyear expectations that became baked into Nvidia's stock price in recent months. Based on the Reuters report, the potential boost to revenue wouldn't arrive for more than a year, and it's unclear what Nvidia's market share would look like then. Another reason for tempered enthusiasm: The gross margins on PC CPUs are typically smaller than Nvidia's data-center chips, a market in which the company has pricing power. Bottom line Nvidia's potential foray in PC CPUs is a development that we'll continue to monitor, but it doesn't put to rest longer-term questions around China.

Persons: Jim Cramer, Jim, Biden, Washington's, Grace Hopper superchip, it's, doesn't, Jim Cramer's, Tyrone Siu Organizations: Nvidia, of Commerce, Reuters, Microsoft, Arm Holdings, Intel, Devices, AMD, Bank of America, Apple, Qualcomm, CNBC, Nvidia Corporation Locations: China, Silicon Valley, U.S, Taipei, Taiwan

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