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NATO's increasing focus on China and what it means for Asia
  + stars: | 2024-07-11 | 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 EmailNATO's increasing focus on China and what it means for AsiaWith NATO's increasing focus on China, what does it mean for other Asia countries such as Japan, South Korea, Southeast Asian nations and Australia? CNBC's Martin Soong, Sri Jegarajah, Sam Vadas and Lin Lin talk about the big geopolitical shift in the region.
Persons: CNBC's Martin Soong, Sri Jegarajah, Sam Vadas, Lin Lin Locations: China, Asia, Japan, South Korea, Southeast, Australia
India's aviation sector remains robust but external pressures pose the biggest risks for growth, according to the CEO of Vistara Airlines. Aviation demand in India is "still progressive" and headed in a positive direction, Vinod Kannan told CNBC in an exclusive interview. However, factors such as fuel costs as well as the strong U.S. dollar could impact growth, he added. The domestic air passenger traffic in India in the financial year ended March 2024 is estimated to stand at $154 million — up about 13% year-on-year, according to credit rating agency ICRA. "Outlook on the Indian aviation industry is stable, amid the continued recovery in domestic and international air passenger traffic, and relatively stable cost environment and expectations of the trend continuing in fiscal year 2024-25," it said.
Persons: Vinod Kannan, CNBC's, Brent Organizations: Vistara Airlines, Aviation, CNBC, U.S, CNBC's Sri Locations: India
Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Far from rewarding Prime Minister Narendra Modi's party with a supermajority — as polls had predicted — Indians elected 240 BJP lawmakers to India's 543-seat Parliament, which falls short of a simple majority for Modi's party. However, as the largest party, the BJP will form a coalition government thanks to its alliance with smaller parties ahead of the elections. This "radical transformation" is expected to lead to a significantly more efficient economy and help India's currency, according to Sullivan.
Persons: Narendra Modi, Adnan Abidi, Narendra Modi's, Modi, Gavekal, Tom Miller, Udith Sikand, Malcolm Dorson, Aastha Gudwani, who's, India's, Morgan, Ridham Desai, Will, Goldman Sachs, Abhiram Eleswarapu, Eleswarapu, Tanvir Gill, Sri Jegarajah, Sumathi Bala, Seema Mody, Amala Balakrishner, Vinay Dube, could've, James Sullivan, Sullivan Organizations: Indian, Bharatiya Janata Party, BJP, Reuters, CNBC, Global, of America, Gavekal Research, India Active, BNP, CNBC Pro, JPMorgan, U.S . Federal Locations: New Delhi, India, CNBC's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets want more progress and details on Indian economic reformsCNBC's Sri Jegarajah reports on how the outcome of the Indian elections might affect markets.
Organizations: Markets
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModi's economic agenda could be disrupted after smaller-than-expected mandate in India electionCNBC's Sri Jegarajah reports on the reaction to India's election results, which saw Prime Minister Narendra Modi win a third term in office, but with a smaller-than-expected mandate, forcing him to rely on his coalition partners going forward.
Persons: Narendra Modi Locations: India
JPMorgan is "positive" on China stocks and "constructive" on its real estate sector as the world's second-largest economy strives to prop up its equity and property markets. JPMorgan's view on China stocks is "tilted in the positive direction," said Wendy Liu, the firm's chief Asia and China equity strategist. Liu, who expects the index to hit 3,900 by the end of the year, said that China market was still "among the cheapest" in Asia Pacific. Mainland China's CSI300 was the third worst performing stock market in Asia, losing 11.38% last year. When asked about the Chinese real estate sector, Liu said it was at an "inflection point," and that JPMorgan was "constructive" on the sector.
Persons: Wendy Liu, Liu, they'll, CSI300, Hong, malpractices . Liu, Wu Qing, Wu, JPMorgan Organizations: JPMorgan, JPMorgan Global China, China Securities Regulatory Commission, People's Bank of China Locations: China, Asia, Jegarajah, Asia Pacific
"You can't ignore it, you have to do business there, even if you decide not to do business there, you need to understand what's going on," Leenart said, adding that what happens in China "influences every industry around the world." In terms of purchasing power parity, China currently accounts for 19% of global GDP and 48% of Asia's GDP . China is too big to be sidelined, and investors "have to do business there," JPMorgan Asia Pacific CEO Sjoerd Leenart said Thursday, adding that the country had emerged as the second world power. Given how extensively China is linked with the region, Leenart emphasized that there needs to be "good activity" in China in order to have a buoyant investment banking business. "I think that [China] have a lot to sell to the world, and that product will be needed all over the world," said Leenart, adding that he sees a lot of opportunity in China.
Persons: Leenart, CNBC's, Sjoerd Leenart, We've Organizations: JPMorgan Chase &, CNBC's Sri, Global China Summit, JPMorgan Asia Pacific, Investors, China's National Bureau of Statistics, Reuters, Wilson Locations: New York, United States, China, CNBC's Sri Jegarajah, Shanghai . China, Asia, Japan, South Korea, Taiwan, Vietnam
JPMorgan Chase 's chairman and CEO Jamie Dimon says the the U.S. economy could see a "hard landing." When asked by CNBC's Sri Jegarajah about the prospect of a hard landing, Dimon replied: "Could we actually see one? The CEO was speaking at the JPMorgan Global China Summit in Shanghai. Dimon said the worst outcome for the U.S. economy will be a "stagflation" scenario, where inflation continues to rise, but growth slows amid high unemployment. "I look at the range of outcomes and again, the worst outcome for all of us is what you call stagflation, higher rates, recession.
Persons: JPMorgan Chase, Jamie Dimon, CNBC's, Jegarajah, Dimon, we'll Organizations: JPMorgan, JPMorgan Global China Summit Locations: U.S, Shanghai
People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023. Instead, there's been a flurry of activity this month at a number of regulators across India's financial system. That frightened bank investors and immediately knocked off more than 3% from the India Nifty PSU Bank index. "RBI has been tightening the screws," Rajeev Agrawal, hedge fund manager and managing partner at DoorDarshi India Fund, told CNBC's Inside India. We also had hedge fund manager Andrew Holland, who spoke on India's infrastructure projects and the outlook for the country's economy.
Persons: Niharika Kulkarni, there's, Nirmala Sitharaman, SEBI, Rajeev Agrawal, Agrawal, Shailendra Singh, India's, they've, Dinesh Kumar Khara, Andrew Holland, Sri Jegarajah Organizations: Reserve Bank of, Global, Securities and Exchange Board of India, Reserve Bank of India, Futures Industry Association, Bombay Stock Exchange, Reuters, India Nifty, DoorDarshi India Fund, Peak XV Partners, Sequoia Capital, CNBC, CNBC Pro, U.S ., State Bank of India, U.S . Federal Reserve, Center Locations: Reserve Bank of India, Mumbai, India, Sequoia, Sequoia Capital India, Southeast Asia, Maldives, Sri Lanka, Sri, Japan, Indian, Chennai
India is gearing up to be a semiconductor chip powerhouse
  + stars: | 2024-05-13 | 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 EmailIndia is gearing up to be a semiconductor chip powerhouseIndia wants to be among the world's top five semiconductors producers. CNBC's Sri Jegarajah reports.
Locations: India
India kicks off second phase of its 2024 election
  + stars: | 2024-04-26 | 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 EmailIndia kicks off second phase of its 2024 electionThirteen states will be heading to the polls on Thursday. CNBC's Sri Jegarajah speaks to voters in one of Prime Minister Narendra Modi's heartlands. Some of them, particularly younger, first-time voters, raised concerns about unemployment, corruption and the environment.
Persons: CNBC's Sri Jegarajah, Narendra Modi's heartlands Organizations: India
"It was meant for all global EV manufacturers and domestic manufacturers." While much of the "buzz has been around Tesla," Singh underscored the initiatives will also attract other foreign automakers, highlighting that Vietnam's leading EV maker "VinFast has already announced its intent." In February, VinFast broke ground on its integrated EV manufacturing facility in India's southern state of Tamil Nadu. As competition in India's EV sector remains limited, the entry of major players like Tesla, will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba told CNBC. Robust trajectoryAccording to Counterpoint Research, India's EV sales nearly doubled in 2023, driven by rising consumer interest and government initiatives, among other factors.
Persons: Rajesh Kumar Singh, CNBC's, Singh, VinFast, Elon Musk, Narendra Modi, Tesla, Rajeev Chaba, EVs, Modi, Ola, Bain Organizations: Department, Promotion, Industry, Internal, EV, CNBC's Sri, Motor, CNBC, Counterpoint Research, International Energy Agency, TVS Motor, Bajaj, Ampere, Bain & Company Locations: India, Tamil Nadu, China
"When India as a market gets attention, more and more players and investments will come in. Numbers are still constrained because consumers don't have compelling choices," Chaba told CNBC's Sri Jegarajah in Gurugram, India. India's electric vehicle sector still lacks competition, but entry from international automakers like Tesla will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba said. Tesla CEO Elon Musk postponed a scheduled trip to India this week where he was to meet Prime Minister Narendra Modi, citing "heavy Tesla obligations." It'll be good for the industry, good news for the country, and for serious players like us."
Persons: Tesla, Chaba, EVs, CNBC's, Rajeev Chaba, Elon Musk, Narendra Modi, Maruti Suzuki, It'll, Musk Organizations: Bain & Company, CNBC's Sri, Motor, Reuters, Tesla, Tata Motors, Mahindra, Maruti Locations: India, CNBC's Sri Jegarajah, Gurugram, New Delhi, Mumbai
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia heads to the polls in the world's biggest democratic electionIndia heads to the polls today in the world's biggest democratic election, where voters will decide whether to hand Prime Minister Narendra Modi a third term. CNBC's Sri Jegarajah reports from Tamil Nadu.
Persons: Narendra Modi Locations: India, Tamil Nadu
Indian elections: Voters discuss key issues
  + stars: | 2024-04-18 | 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 EmailIndian elections: Voters discuss key issuesCNBC's Sri Jegarajah delves into the key concerns of Indian voters ahead of the country's general election. They range from corruption and unemployment to water scarcity.
Persons: Jegarajah
Hardeep Singh Puri, India's minister of Petroleum and Natural Gas, at the ADIPEC conference in Abu Dhabi, United Arab Emirates, on Tuesday, Oct. 3, 2023. Bloomberg | Bloomberg | Getty ImagesIndia keeps global crude prices affordable by buying oil from Russia, India's energy minister said. "The world is grateful to India for buying Russian oil. Such uncertainty would typically push energy prices higher but gains have been limited amid record output from the U.S., and an ongoing global economic slowdown. "The fact of the matter is half the work is in recession," he said, adding that higher oil prices will invariably end up becoming a "self fulfilling prophecy" where higher prices will curtail demand.
Persons: Hardeep Singh Puri, Singh Puri, CNBC's Sri, India's Organizations: Petroleum, Natural, United, Bloomberg, Getty, Natural Gas, India Energy Locations: Abu Dhabi, United Arab Emirates, Russia, India, CNBC's Sri Jegarajah, Goa, Ukraine, Moscow, U.S
Full interview with India's Finance Minister Nirmala Sitharaman
  + stars: | 2024-02-05 | 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 EmailFull interview with India's Finance Minister Nirmala SitharamanIndian Finance Minister Nirmala Sitharaman spoke to CNBC's Sri Jegarajah in a wide-ranging interview on the possibility of a credit ratings upgrade, external risks, and economic agenda, as the Indian General Election approaches in 2024.
Persons: Nirmala, Nirmala Sitharaman Organizations: India's, Indian Locations: Jegarajah
Finance Minister Nirmala Sitharaman addresses the media after the interim budget on February 1, 2024 in New Delhi, India. So a lot of new people are accessing India," Sitharaman said, while touting that India was able to showcase its digital public infrastructure at the G20 summit it hosted in New Delhi last year. Sitharaman, when asked about what economic issues will define the vote, said "if economic issues are to dominate the election, it would be the recipients of the beneficiaries themselves coming out to say, 'I'm empowered now'." "If anything, for us it will be performance on the economic issues, good performance, inclusive growth that we've offered." The interim budget is typically a stop-gap financial plan during an election year, aimed at meeting immediate financial needs before a new government is formed.
Persons: Nirmala Sitharaman, Sitharaman, CNBC's, CNBC's Sri Jegarajah, Narendra Modi's, Pranjul Bhandari, Bhandari, Anantha Nageswaran Organizations: Hindustan Times, Getty, India's, CNBC's Sri, Mar, CNBC, India's Finance Locations: New Delhi, India, Europe, America, Brazil, Africa, Indonesia
Workers assemble mobile phones at a Dixon Technologies factory in Noida, India, on Jan. 28, 2021. Bloomberg | Bloomberg | Getty ImagesIndia could clock up to 8% annual GDP growth for several years as it focuses on boosting its manufacturing capabilities, a key government minister told CNBC on Thursday. watch nowHe spoke extensively about the country's mobile manufacturing ecosystem, claiming that 99% of the phones used in India were made within the country. The country exported $11 billion mobile phones last year, and they are likely to rise to between $13 billion and $15 billion in 2024, Vaishnaw said. Apple 's presence in India has grown exponentially since it first started manufacturing in the country in 2017.
Persons: Vaishnaw, Narendra Modi's, Nirmala Sitharaman, CNBC's, Apple, OnePoll, Joe Biden, India's Modi, Narendra Modi, Modi, Mandel Ngan Organizations: Dixon Technologies, Bloomberg, Getty, CNBC, Union, Railways, Communications, Electronics, Technology, CNBC's Sri, Deloitte, India, Apple, Samsung, Micron, U.S, India's, White, Afp Locations: Noida, India, Delhi, Mumbai, Chennai, China, Washington ,
India plans to narrow fiscal deficit to 5.9% of GDP
  + stars: | 2024-02-01 | 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 EmailIndia plans to narrow fiscal deficit to 5.9% of GDPSri Jegarajah of CNBC reports on India's 2024-25 interim budget live from New Delhi.
Organizations: India, CNBC Locations: New Delhi
A robotic arm moves 300 mm silicon semiconductor wafers inside a sorting machine in a cleanroom at a Globalfoundries Inc. semiconductor fabrication plant. Liesa Johannssen | Bloomberg | Getty ImagesU.S.-headquartered GlobalFoundries announced Tuesday the opening of its $4 billion expansion fabrication plant in Singapore as the contract chipmaker expects "growth in demand for essential semiconductor chips." Singapore supplies 11% of the world's semiconductors, according to the Singapore Semiconductor Industry Association. GlobalFoundries acquired Singapore's Chartered Semiconductor Manufacturing and took over its fabs in 2010. The following June, the Nasdaq-listed semiconductor manufacturer said its first tool had been moved into the Singapore facility.
Persons: Johannssen, GlobalFoundries, chipmaker, Thomas Caulfield, Caulfield, CNBC's Organizations: Inc, Bloomberg, Getty, CNBC, Qualcomm, MediaTek, NXP Semiconductors, 5G, Singapore Semiconductor Industry Association, Partnership, Samsung, Semiconductor Manufacturing, Economic, Board, Nasdaq, CNBC's Sri Locations: Singapore, U.S, Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaudi Arabia to extend voluntary cut of 1 million barrels per day until the end of 2023Saudi Arabia and Russia have decided to extend voluntary oil production cuts until the end of the year, CNBC's Sri Jegarajah and Dan Murphy report.
Persons: CNBC's Sri Jegarajah, Dan Murphy Organizations: Saudi Locations: Saudi Arabia, Russia
Business is war, and we go to war every day: Gunung Raja Paksi
  + stars: | 2023-08-17 | 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 EmailBusiness is war, and we go to war every day: Gunung Raja PaksiThe founding family of Indonesian steel producer, Gunung Raja Paksi, shares with CNBC's Sri Jegarajah why the company moved from a family structure to a professional-management style.
Organizations: CNBC's Locations: Raja, Raja Paksi
watch nowNuclear energy has never been part of Australia's energy mix as it has abundant renewables, according to Australia's minister for climate change and energy. Nuclear plays a role in various countries' mix, but in Australia, it never has," Chris Bowen told CNBC on the sidelines of the G20 energy ministers meeting in Goa, India. "Wherever you look, there's issues from our point of view with nuclear energy," he said, outlining problems that can come from adopting nuclear energy. Furthermore, Australia will be starting from "worse than scratch" since it never had a nuclear industry in the first place, he said. "They're not going to be replaced with coal fired power, it's just not going to happen," Bowen said.
Persons: Chris Bowen, CNBC's Sri, Liddell, Bintang, They're, it's, Bowen, Vladimir Putin, David Gray Organizations: CNBC, Liddell Power Station, Getty, Australia, Gas, country's Clean Energy Council Locations: Australia, Goa, India, CNBC's Sri Jegarajah, Europe, Ukraine, Lake George, Canberra
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina and India's oil demand will rise by 2 million barrels per day in the second half of 2023: IEFJoseph McMonigle, secretary general of the International Energy Forum, speaks to CNBC's Sri Jegarajah and warns of "serious problems" with oil supply in the second half of the year.
Persons: IEF Joseph McMonigle, Jegarajah Organizations: China, International Energy Forum
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