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☆ Chinese E.V. Makers Rush In and Upend a Country’s Entire Auto Market
▼ + stars: | 2024-07-30 | by ( Daisuke Wakabayashi | Claire Fu | ) www.nytimes.com time to read: +1 min

Ma Haiyang and eight of his colleagues arrived in Thailand a year ago to establish the first overseas operation for GAC Aion, an electric vehicle maker from China. The Aion team set up shop in a Bangkok hotel, commandeering conference rooms and holding meetings in the lobby. They had a long list of things to do: Find office space, recruit dealers and devise a business strategy. The team worked around the clock and, 74 days after arriving in Thailand, sold its first electric vehicle. Chinese electric vehicle manufacturers like Aion are stampeding into overseas markets.

Persons: Ma Haiyang, ”, Ma Organizations: GAC Locations: Thailand, China, Bangkok, Southeast Asia

☆ After Protest Crackdown, Bangladesh Accuses Tens of Thousands of Crimes
▼ + stars: | 2024-07-30 | by ( Mujib Mashal | Saif Hasnat | ) www.nytimes.com time to read: +1 min

The authorities in Bangladesh have opened investigations into tens of thousands of people in recent weeks as security forces combed through neighborhoods as part of their deadly crackdown on a student protest that had spiraled into violence. The widening legal net, confirmed in interviews with police officials and a review of records, comes as arrests surpassed 10,000 since the crackdown on protesters began two weeks ago. Charges range from vandalism and arson to theft, trespassing and damage of state property. “This is a witch hunt,” said Smriti Singh, the regional director for South Asia at Amnesty International. Conservative estimates put the death toll at more than 200, mostly students and youths.

Persons: ”, Smriti Singh, Sheikh Hasina Organizations: South Asia, Amnesty International, Bangladesh Nationalist Party and Jamaat, Islami Locations: Bangladesh

☆ CNBC Daily Open: Asian shares slide, U.S. stocks flat ahead of Big Tech earnings; McDonald's earnings miss
▼ + stars: | 2024-07-30 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. McDonald's missMcDonald's quarterly earnings and revenue fell short of analysts' expectations as same-store sales declined globally for the first time since 2020. The fast-food giant's second-quarter net income fell to $2.02 billion from $2.31 billion a year ago, while revenue was nearly flat at $6.49 billion. Asia stocks weakenAsian stocks traded lower as the Bank of Japan began a two-day meeting where it is widely expected to raise benchmark interest rates. Japan central bank meetsThe Bank of Japan began its two-day policy meeting Tuesday amid expectations of an interest rate hike.

Persons: McDonald's, iPhones, Seng, Fortescue, JPMorgan, Yuri Khodjamirian, CNBC's Organizations: CNBC, Nasdaq, Big Tech, Dow Jones Industrial, Treasury, Hezbollah, Apple, Apple Intelligence, Max, Bank of Japan, Nikkei, CSI, Australian Financial Review, Tema Locations: U.S, Israel, Iran, Lebanon, Asia, Australia, Japan

☆ Asia-Pacific markets slide as the Bank of Japan begins two-day meeting
▼ + stars: | 2024-07-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A pedestrian walks past the Bank of Japan (BoJ) building in central Tokyo on July 28, 2023. Asia-Pacific markets fell across the region on Tuesday as the Bank of Japan kicks off its two-day monetary policy meeting. When the meeting concludes Wednesday, the BOJ is expected to raise its benchmark interest rate and trim its Japanese government bond purchases. Economists polled by Reuters expect the BOJ to increase its benchmark interest rate to 0.1%, up from the current range of 0% to 0.1%. Japan's unemployment rate came in slightly lower than expected in July, at 2.5% compared to the 2.6% forecast by a Reuters poll of economists.

Organizations: Bank of Japan, Reuters, Nikkei Locations: Tokyo, Asia, Pacific

The tragedy is sadly far from unique; extreme heat is turning ordinary activities deadly. Heat is the deadliest type of extreme weather, and the human-caused climate crisis is making heat waves more severe and prolonged. What heat does to your heartVideo Ad Feedback A rise in heat and humidity pushes the heart rate up. In extreme heat, your heart must work much harder to keep your body’s internal temperature stable. Blood flow to your brain decreases in extreme heat as breathing speeds up and blood vessels constrict inside your neck and skull.

Persons: Philip Kreycik, Kreycik, Santiago Mejia, Taylor, We’ve, ”, Matthew Huber, Damian Bailey, Bailey, “, ” Bailey, Laura Paddison, Catharina Giudice, Harvard T.H, it’s, Pope Moseley, ” Moseley, Moseley, they’ve, Giudice, Purdue University’s Huber, ” Huber, Richer, Jane Baldwin, Bharat Venkat, Venkat, Jen Christensen, Mary Gilbert, Angela Dewan, Angela Fritz , Mark Oliver, Henry Zerkis, Angelica Pursley , Yukari Schrickel, Elisa Solinas, Lou Robinson Organizations: CNN, Police, San Francisco Chronicle, Purdue University, Olympic Games, University of South, Harvard, of Public Health, Arizona State University, Purdue, University of California, World Health Organization, UCLA, Mary Gilbert Story Locations: Pleasanton, California, Mecca, Paris, University of South Wales, Chan, West Africa, South Asia, University of California Irvine

☆ Here's how to trade the S&P 500 after the volatility, according to the pros
▼ + stars: | 2024-07-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

How can the S & P 500 be traded? Those losses continued on Thursday , with the S & P 500 closing at 5,399.22 and the Nasdaq finishing at 17,181.72. The S & P 500 lost 0.83% for the week, and the Nasdaq declined around 2% in the same period. "Then that's where maybe I'm looking to try and find some bargains here for people to sort of buy back into this market," Stutland said. Large over smalls, large over mids and U.S. over international within the large cap space," he told CNBC's " Squawk Box Asia " on Friday.

Persons: we've, Richard Clode, Janus Henderson, Paul Christopher, Christopher, Brian Stutland, CNBC's, Stutland, He's, smalls, We're Organizations: Nasdaq, Trump, Wells, Wells Fargo Investment Institute, Equity Armor Investments Locations: China, Wells Fargo, Friday's, —

☆ Temu and Shein's soaring popularity has Wall Street eyeing China's influence on tech earnings
▼ + stars: | 2024-07-29 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

The topic of Temu and Shein's growth will hover over tech earnings this week, as Amazon reports second-quarter results alongside Meta, eBay and Etsy. watch nowIn Amazon's report on Thursday, the company is expected to show revenue growth of about 11% to $148.6 billion, according to LSEG. That's where Temu and Shein come into play, as merchants now have new ways to get products to American consumers. Amazon has continued to highlight its delivery prowess and its focus on speed in the face of growing competition from Temu and Shein. However, while it's long touted itself as the "lowest-priced U.S. retailer," Amazon has shown that it's well aware of Temu and Shein's increasing popularity.

Persons: Stefani Reynolds, David Zapolsky, Zapolsky, it's, Shein, Andy Jassy, Jassy, It's, Angus Mordant, Temu, Meta, Susan Li, Jamie Iannone, Etsy, Amazon, Amazon's Zapolsky Organizations: Apple, CNBC, Afp, Getty, eBay, Meta, Etsy, Tech, YouTube, Microsoft, Intel, Qualcomm, Google, PDD Holdings, Amazon, European Union, Bloomberg, Barclays, Finance, EBay, Bank of America, Walmart Locations: U.S, China, Temu, New York, Asia, Pacific, San Francisco, Singapore

☆ Analyst the discusses the significance of U.S.-Japan security talks
▼ + stars: | 2024-07-29 | 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 EmailAnalyst the discusses the significance of U.S.-Japan security talksYuki Tatsumi, co-director of the East Asia Program and director of the Japan Program at the Stimson Center, discusses the Japan-U.S. Security Consultative Committee in Tokyo.

Persons: Yuki Tatsumi Organizations: East Asia Program, Japan, Stimson, . Security Locations: Japan, Tokyo

☆ Ancient monastery in war-ravaged Gaza placed on UNESCO’s danger list
▼ + stars: | 2024-07-29 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +2 min

CNN —An ancient Christian monastery in Gaza has been added to the List of World Heritage in Danger because of the ongoing conflict in the region. Mohammed Abed/AFP/Getty ImagesThe Monastery of St. Hilarion, known locally as Tell Umm Amer, was simultaneously added to the World Heritage List and the List of World Heritage in Danger, according to an announcement by UNESCO on its website on Friday. “This decision recognizes both the site’s value and the need to protect it from danger,” the organization explained online. The monastery was founded by St. Hilarion and was home to the first monastic community in the Holy Land, according to UNESCO. UNESCO stated: “In view of the threats to this heritage site posed by the ongoing conflict in the Gaza Strip, the World Heritage Committee used the emergency inscription procedure provided for in the World Heritage Convention.

Persons: Mohammed Abed, Hilarion, Umm Amer Organizations: CNN, UNESCO World Heritage Committee, Getty, UNESCO, Fund, St, Monuments Fund, World Heritage, Heritage Convention, Convention, Israel’s Ministry of Foreign Affairs Locations: Gaza, New Delhi, AFP, St, Danger, Gaza City, Africa, Asia

☆ Asia's governments seem to think declining birth rates have to do just with dating and sex. That's not the full story.
▼ + stars: | 2024-07-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +9 min

AdvertisementDeclining birth rates have been a huge bugbear for Asian countries like Japan and South Korea. Vanessa LeeLee, who owns two dogs and a cat, said that governments may be overestimating the effectiveness of one-off interventions in bolstering birth rates. AdvertisementShe added that a shift in societal mindsets toward work and family needs to occur for her peers to consider having children. But it also doesn't guarantee that having sex brings children and that not having sex is the only reason why people are not having children," Gietel-Basten said. Low birth rates, according to HKUST's Gietel-Basten, are a "barometer of the challenges in society" and should thus be seen as "symptoms of problems in a society."

Persons: —, Vanessa Lee, Lee, Elon Musk, Paulin Straughan, Poh Lin Tan, Tan, Jonas Hue, Vanessa Lee Lee, It's, Emily Huang, Stuart Gietel, Basten, SMU's Straughan, Straughan, HKUST's, we're Organizations: Service, Business, Internal, Ministry, Asahi Shimbun, South, Singapore Management University, Singapore's Institute of Policy, Nordic, Hong Kong University of Science, Technology Locations: Singapore, Japan, South Korea, Korea, Tokyo, Seoul, Sweden, Finland, Hong Kong, Basten

☆ North Korea’s Kim ‘inspects’ flood response as thousands evacuated from China border region after heavy rains
▼ + stars: | 2024-07-29 | by ( Simone Mccarthy | Gawon Bae | ) edition.cnn.com time to read: +3 min

CNN —Some 5,000 people were rescued from flood-hit areas along North Korea’s border with China over the weekend in efforts supervised by leader Kim Jong Un, the country’s state media reported Monday. A flooded area in North Korea's North Pyongan province on July 28, pictured in a photo released by North Korea's official Korean Central News Agency. At least 15 people died following a rain-triggered landslide in central China’s Hunan Province, Chinese state media Xinhua said Sunday. China’s northeast – a key food-growing region which traditionally had been less effected by frequent flooding – is also grappling with heavy rains. In China’s Liaoning province, across the border from North Korea’s North Pyongan, more than 45,000 people were evacuated from their homes as of Sunday morning as heavy rains hit the region, according to Xinhua.

Persons: Kim Jong Un, KCNA, Kim –, Gaemi Organizations: CNN, North Korean, North, Korean Central News Agency, KCNA, Xinhua Locations: China, North Pyongan, Yalu, North Korea, Sinuiju City, Dandong, Asia, North Korea's, Pyongan province, Philippines, Taiwan, China’s Fujian Province, China’s Hunan Province, –, China’s Liaoning, North Korea’s, Xinhua, Southwest Liaoning

☆ Our Mexican beer powerhouse is down on a rival's troubles — so we're buying the dip
▼ + stars: | 2024-07-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

We're buying 50 shares of Constellation Brands at roughly $246 each. Following Monday's trade, Jim Cramer's Charitable Trust will own 375 shares of STZ, increasing its weighting in the portfolio to 2.8% from 2.46%. Shares of Mexican beer maker Constellation Brands were down 3% on Monday after Heineken reported weaker-than-expected earnings. We're also upgrading Constellation stock back to our buy-equivalent 1 rating . Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Heineken, Bill Newlands, Newlands, Heineken doesn't, Jim Cramer, Jim Organizations: Constellation Brands, STZ, Heineken, Constellation, Asia Pacific, CNBC Locations: China, Modela, Europe, Americas, Asia Pacific, Africa, Middle, United States

☆ I've visited 60 countries. Skip the crowds in Bali — visit this lesser-known gem in South Asia instead.
▼ + stars: | 2024-07-29 | by ( Kate Mcmahon | ) www.businessinsider.com time to read: +5 min

But although Sri Lanka is called India's teardrop, I think it's really its gem. AdvertisementIn my seven years of traveling to 60 countries — including most countries in Southeast Asia — I have rarely been anywhere as wild and diverse as Sri Lanka. There's a lot to do in Sri LankaElephants can be spotted in Sri Lanka. For history and culture buffs, Sri Lanka is also a must-visit countryGet to know the people of Sri Lanka — and their history. AdvertisementDuring my travels, I've also met some of the kindest, most hospitable people in Sri Lanka.

Persons: —, hasn't, Kate McMahon, Jack Lawes, chiles, I've Organizations: Service, Business, Sri Lanka —, . Locations: Sri Lanka, India, Southeast Asia, Bali, New York, Africa, Trincomalee, there's, Jack Lawes Sri Lanka, Ceylon, Kingdom of Kandy, British, . Historic

☆ Sotheby’s expands Hong Kong footprint with cavernous new exhibition and retail space
▼ + stars: | 2024-07-29 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

CNN —A fossilized mammoth skull, centuries-old ceramics and Banksy’s famous self-shredding painting are among hundreds of high-value collectibles on show at Sotheby’s ambitious new retail outpost in Hong Kong. With younger collectors seemingly in mind, items on the first floor range in price from 5,000 to 50 million Hong Kong dollars ($640 to $6.4 million). The venture is the latest signal that major auction houses still consider Hong Kong to be their long-term hub in Asia. In June, Hermès also unveiled its expanded retail space in the neighborhood. It has simultaneously sought to grow its footprint in Hong Kong — not only with its newly unveiled Maison, but also a nearby 36,000-square-foot regional headquarters, due to open later this year.

Persons: Maison, Hong Kong, Art Basel’s, Isaac Lawrence, Louis Vuitton, Hermès, Sotheby’s, Patrick Drahi, Hong Kong —, Christie’s, Zaha Hadid’s, Phillips, Bonhams, Nathan Drahi Organizations: CNN, Hong Kong, UBS, Art, Art Basel, Getty, PricewaterhouseCoopers, Louis, Sotheby’s Locations: Hong Kong, Central, Asia, China, Hong, Hong Kong's Central, AFP, London, Singapore, Shanghai, Sotheby’s, Sotheby’s Asia, Paris, New York

☆ Meet the 29-year-old son of a casino billionaire who just took his influencer and esports company public
▼ + stars: | 2024-07-29 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +3 min

Last Friday, Ho took his company, NIP Group, public on the Nasdaq stock exchange. NIP Group makes money from live streams — both of esports and from third-party influencers — and event production and its esports arm. NIP Group plans to explore esports real estate, digital collectibles, and esports training camps, among other strategies, the company said in a filing. Before the duo cofounded NIP Group, Ho was the chief marketing officer of iDreamsky Games, one of the largest game publishers in China. Though billed as an esports company, NIP Group made the bulk of its revenue last year primarily from managing 36,000 online entertainers — with money coming largely from fees on their live streams.

Persons: —, Mario Ho, Stanley Ho, Ho, NIP Organizations: Service, NIP Group, Nasdaq, SEC, Business, Group, iDreamsky, MIT Sloan School, Macau Esports Federation, MSI Finance Management Company, Bloomberg Locations: Sweden, China, Oslo, Hong Kong, Asia, Macau

☆ I've lived overseas with my European boyfriend for 3 years. We still can't agree on dinner time, investment strategies, or how to talk to each other's families.
▼ + stars: | 2024-07-29 | by ( Elizabeth Lavis | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Misha comes from the small, mountainous Caucasian country of Georgia — located at the crossroads of Eastern Europe and Western Asia. AdvertisementWhile I'm included in Misha's family gatherings, I always feel like an outsider because I can't fully understand or contribute to the conversation. We both take a few steps outside our comfort zones; I agree to eat dinner at 8:30 p.m., and Misha agrees to consider a retirement and investment strategy. That's OK as long as we practice negotiation and patience in our quest to appreciate and understand each other's cultures.

Persons: —, Vera, Misha, Georgia —, It's, Kraft, Elizabeth Lavis, I've Organizations: Service, Business, Georgian, Russo, Kraft Mac Locations: Tbilisi's Vera, Georgia, Eastern Europe, Western Asia, Soviet Union, Georgian, Tbilisi

☆ Japan's Nikkei jumps 2% to lead gains in Asia as traders assess U.S. inflation data, await BOJ meeting
▼ + stars: | 2024-07-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Monday, with Japan's Nikkei 225 leading gains in the region after a key U.S. inflation report late last Friday raised hopes for an interest rate cut. The Nikkei rose 2.02%, while the broad-based Topix was up 1.52%. In Asia, the highlight for this week will be the Bank of Japan's monetary policy meeting starting July 30. A Reuters poll of economists expects the central bank to raise rates by 10 basis points to 0.1%. Other key inflation data from the region include China's July PMI data, while Australia will release its latest set of inflation data before the central bank's Aug. 6 monetary policy meeting.

Persons: Topix, Dow Jones Organizations: Mount Fuji, Japan's Nikkei, Nikkei, Bank, ING Locations: Asia, Pacific, U.S, Australia

☆ European markets set to start the new trading week higher as earnings season continues
▼ + stars: | 2024-07-29 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets were poised to open higher Monday as investors digest U.S. inflation data and look ahead to another busy week of earnings and central bank meetings. The pan-European Stoxx 600 closed higher on Friday as a global stock selloff eased and investors reacted to a U.S. personal consumption expenditures price print that came in in line with expectations. The slew of earnings releases continues this week, with Heineken, Philips, Pearson and Associated British Foods all reporting during the session. Asia-Pacific markets climbed on Monday, with Japan's Nikkei 225 leading gains in the region as the U.S. inflation print raised hopes for a rate cut. U.S. stock futures, meanwhile, were also higher ahead of a continued slew of corporate earnings stateside.

Organizations: Heineken, Philips, Pearson, British Foods, Federal Reserve, Bank of England, Japan's Nikkei Locations: Asia, Pacific

☆ Dream Team dreaming: How great can this U.S. men’s basketball team still be?
▼ + stars: | 2024-07-28 | by ( Joe Vardon | ) www.nytimes.com time to read: +11 min

Still, as the U.S. men’s team starts its Olympic run Sunday, it begins with a roster that has drawn countless comparisons to the Dream Team. On paper, the U.S. men’s team is arguably the best team assembled since 1992. Durant is the most prolific scorer in U.S. men’s history and could, if the Americans win gold in Paris, become the most decorated Olympic men’s basketball player. A loss in the knockout stages, when there are no more second chances, and a Dream Team redux becomes a historic nightmare. In that scenario, the U.S. men’s team would be remembered forever, even if not quite held in the same reverence as the Dream Team.

Persons: Michael Jordan’s, Rod Thorn, Russ Granik, David Stern, Charles Barkley, Karl Malone, Larry Bird, Magic Johnson, Thorn, Jordan, Simone Biles, Michael Phelps, Jesse Owens, Carl Lewis, “, ” Granik, LeBron James, Stephen Curry, Kevin Durant, ” Curry, Gregory Shamus, Barkley, Bird, Magic, we’re, ”, Anthony Davis, James, Curry, Durant, Michael, Larry, Joel Embiid, Jrue Holiday, Jayson Tatum, Kawhi Leonard, Leonard, Embiid, Durant couldn’t, Christian Laettner, Nikola Jokić, Giannis Antetokounmpo, Shai Gilgeous, Alexander, Victor Wembanyama, Wembanyama, who’s, Duke, Steve Kerr, ” Kerr, Gregg Popovich, Popovich, ” James, ” Davis, hasn’t, Wembanyama's, Tim Clayton, Corbis Organizations: Paris Games, PARIS, Team USA, Chicago Bulls, Barcelona Games, ”, U.S, men’s, Dream, Paris, NBA, South, Atlanta Games, USA Basketball, Serbia, Games, Olympic, South Sudanese, American, Lille Olympics, Oklahoma City Thunder, French, FIBA, U.S ., Dream Team, Team, France, Getty Locations: United States, I’m, ”, Europe, Africa, Asia, Australia, South America, South Sudan, Germany, U.S, USA, Jordan, Paris, Cameroon, London, Barcelona, Lille, France, Belgian, Serbia, Greece, Canadian, basketball, Tokyo

☆ US to announce military command revamp in Japan, official says
▼ + stars: | 2024-07-28 | by ( ) www.cnbc.com time to read: +2 min

A dealer works behind U.S., left, and Japanese national flags at a foreign exchange brokerage in Tokyo, Japan. The United States will unveil a major revamp of its military command structure in Japan and other measures to deepen defense ties with its Asian ally at high-level security talks in Tokyo on Sunday, a U.S. official said. Forces Japan as a Joint Force Headquarters, reporting to the commander of U.S. INDOPACOM," the U.S. official told a briefing ahead of the talks. The command will be headed by a three-star general, the official said, not the four-star rank that Japan had requested. Prompted by China's growing military might, Japan is stepping back from decades of postwar pacifism.

Persons: Antony Blinken, Defence Lloyd Austin, Yoko Kamikawa, Minoru Kihara, Kihara, Shin Won, Austin, Fumio Kishida, Joe Biden, Biden, Blinken, Wang Yi Organizations: U.S, Defence, Japanese, Austin, South Korean, Forces Japan, Joint Force Headquarters, U.S ., Defense Industrial Cooperation, Sustainment Locations: Tokyo, Japan, United States, Washington, China, North Korea, United, Asia, U.S, Ukraine, Blinken, Austin, Philippines, Laos

☆ U.S. and Japan Announce Steps to Strengthen Their Military Ties
▼ + stars: | 2024-07-28 | by ( Edward Wong | ) www.nytimes.com time to read: +1 min

The top diplomatic and defense officials from the United States and Japan announced on Sunday that their nations would take concrete steps to bolster their military alliance because of the growing threat from China in the region. Those steps include establishing joint forces that would answer to the American commander in the Indo-Pacific, according to a statement issued by the two governments’ top officials and the committee that they oversaw. The statement framed these changes in the alliance relationship mainly as a response to aggressive moves by China in East Asia. The statement focused on China’s actions in the East China Sea, South China Sea and beyond while also mentioning hostile activity by Russia and North Korea. The governments reaffirmed the importance of the mutual-defense clause in their treaty because of the “increasingly severe security environment caused by recent moves of regional actors,” they said.

Persons: ” Locations: United States, Japan, China, East Asia, East China, South China, Russia, North Korea

☆ China just expanded its efforts to boost consumption. Here are some stocks to watch
▼ + stars: | 2024-07-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China has, in its own way, signaled it wants to support specific kinds of consumer purchases. Authorities on Thursday announced the equivalent of 300 billion yuan ($41.5 billion) in special bonds would go towards trade-ins and equipment upgrades — a significant expansion of an existing program. The 300 billion yuan ultra-long bond issuance is not a new government allocation, but rather a more detailed designation of a 1 trillion yuan ultra-long bond program announced earlier this year. "300 billion yuan is the largest equipment upgrade subsidy from the central government historically," the analysts said. Even the 300 billion yuan figure is split roughly between consumer-related trade-ins with business-side equipment upgrades.

Persons: Ding, Morgan Stanley, Tao Wang, Darius Tang, Corporates, Fitch Bohua, Michael Bloom Organizations: China Asset Management Co, UBS Investment Bank Locations: China, Beijing, Asia

☆ Hungary’s Orban says Russia stands to gain as ‘irrational’ West loses power
▼ + stars: | 2024-07-28 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Orban, a nationalist in power since 2010, made the comments during a speech in which he forecast a shift in global power away from the “irrational” West towards Asia and Russia. “In the next long decades, maybe centuries, Asia will be the dominant centre of the world,” Orban said, mentioning China, India, Pakistan and Indonesia as the world’s future big powers. “The EU needs to give up its identity as a political project and become an economic and defence project,” Orban added. The EU opened membership talks with Ukraine late last month, although a long and tough road lies ahead of the country before it can join the bloc. A declaration at the end of the NATO summit this month said the alliance will support Ukraine on “its irreversible path” towards membership.

Persons: Viktor Orban, Orban, ” Orban, ” Organizations: Reuters, European Union, NATO, “, EU, Ukraine Locations: Hungarian, Ukraine, Asia, Russia, China, India, Pakistan, Indonesia, Baile Tusnad, Romania, Beijing, Moscow, Kyiv, Crimea, EU

☆ 3 reasons why US manufacturing is coming back— and how to invest in a reindustrializing economy
▼ + stars: | 2024-07-28 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

AdvertisementAccording to Osterweis, investors should expect increased cyclicality going forward. Now, with increased investment in AI and several initiatives to revitalize domestic manufacturing, Osterweis believes the US could see a return to shorter expansion periods. AdvertisementInvestors can buckle up for more frequent economic fluctuations by increasing their concentration in quality growth equities. Investing in quality growth businesses not only drives strong returns but also protects against the ups and downs of business cycles. Osterweis also sees AI as a sustainable trend and recommends investors continue holding semiconductor companies.

Persons: —, John Osterweis, Goldman Sachs, Management Offshoring, Osterweis Organizations: Service, Business, Capital Management, Osterweis, Infrastructure Investment, Jobs, Bank of America, Companies, Big Tech, Microsoft, Management, Nvidia, VanEck Semiconductor, Trust Nasdaq Semiconductor Locations: Rust, Mexico, China, East Asia, reindustrialization

☆ Why Thailand is making it easier for travelers to stay longer
▼ + stars: | 2024-07-28 | by ( Karla Cripps | Kocha Olarn | ) edition.cnn.com time to read: +6 min

The popular Southeast Asia destination recently introduced a new five-year visa targeted at remote workers and other travelers looking to stay in the kingdom for extended periods. According to a statement issued by the Thai prime minister’s office, the Destination Thailand Visa (DTV) will allow eligible travelers a period of stay up to 180 days per visit, on a multiple-entry basis, within five years. Thailand certainly isn’t alone in its desire to bring travelers in for longer periods. “A global trend we have observed throughout the post-Covid-19 period has been that travelers are staying at destinations for longer,” he says. “These measures will likely enhance the appeal of Thailand for long-term visitors, potentially increasing these proportions over time.”

Persons: It’s, it’s, ”, Gary Bowerman, ” Bowerman, “ You’ve, Olivier Ponti, Ponti, “ Organizations: Bangkok CNN, Muay, Thailand Visa, CNN, ” Locations: Bangkok, Phuket, Muay Thai, Thailand, Southeast Asia, Thai, Asia, –, Asia Pacific

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