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People commuting to work in the morning cross a pedestrian crossing in Tokyo on February 15, 2024. Asia-Pacific markets were mostly up, with Japan's key benchmark hitting new highs on Friday, after scaling record peaks in the previous session. The broad-based Topix also extended its gains and advanced 0.06% to a fresh record high. Japan's household spending for May unexpectedly dipped 1.8% in real terms compared to the same period last year. Household spending data is a key metric for the Bank of Japan's to assess its goal of realizing a "virtuous cycle" of rising wages and prices.
Persons: Topix Organizations: Nikkei, Reuters, Bank of Japan's Locations: Tokyo, Asia, Pacific, Singapore
The Houses of Parliament are seen on June 28, 2024 in London, England ahead of the UK general election. LONDON — European stocks are expected to open higher Thursday, with the U.K.'s general election in focus in the region. The U.K. general election is being held Thursday. Polls open from 7a.m. Overnight, Asia-Pacific markets were mostly up Thursday as Japan's Topix crossed its all-time high of 2,886.50, previously set in December 1989.
Persons: Germany's DAX, Japan's Topix Organizations: LONDON, CAC, IG, Labour Party, Conservative Party Locations: London, England, Asia, Pacific
Read previewRussia and North Korea's newfound friendship has left key US ally South Korea in a predicament with few good options. Last month, Russian President Vladimir Putin visited Pyongyang, where he and North Korean leader Kim Jong Un further strengthened their partnership. SEOUL, SOUTH KOREA: A TV at Yongsan Railway Station shows North Korea's fired Hwasong-18 solid-fuel intercontinental ballistic missile (ICBM). Russian President Vladimir Putin and North Korea's leader Kim Jong Un drive a Russian Aurus limousine during their meeting in Pyongyang, North Korea. With Putin supporting North Korea, tensions are higher between Pyongyang and Seoul, and the two could find themselves on the brink.
Persons: , Vladimir Putin, Kim Jong, Korea's, KIM Jae, Sue Mi Terry, Putin, he's, Victor Cha, they've, Cha, Terry, what's, Caesar, LIONEL BONAVENTURE, Kim Organizations: Service, North, Business, SOUTH, Getty, Council, Foreign Relations, South Korean, Ukraine, KCNA, Reuters, Center for Strategic, International Studies, Putin Locations: Russia, North, South Korea, Seoul, Ukraine, North Korea, Russian, Pyongyang, SEOUL, SOUTH KOREA, Yongsan, Korea, North Korean, Moscow, Asia, Poland, Ukrainian, Tarbes, France, Kyiv, China, United States
Fertility rates across OECD countries have halved since 1960, according to a new OECD report. He said the three countries are disproportionately impacted by a rapidly aging population, largely due to improved standards of living, which have a "very strong inverse relationship with fertility rates." These improved conditions have led to a greater opportunity cost for having children, Xu said. Shrinking workforceA decline in fertility rate puts pressure on the economy and the society at large as the working population shrinks. China's policy shiftsIn China, policymakers have been putting a big emphasis on "productivity growth," Xu told CNBC.
Persons: Leren Lu, Darren Tay, Erica Tay, Tianchen Xu, Xu, BMI's Tay, Tay, Maybank's Tay Organizations: OECD, BMI, Risk, United Nations, Economist Intelligence, Economic Co, National Bureau of Statistics, CNBC, Economist Intelligence Unit Locations: China, Asia, South Korea, Japan, East, Southeast Asia, Maybank
Asia-Pacific markets rose Thursday morning as Japan's Topix crossed its all-time high of 2,886.50, previously set in December 1989. The Topix jumped 0.56% in early morning trading, while the Nikkei 225 rose 0.55%. The Nikkei is less than 150 points from its all-time high of 40,888.43. Big firms with 300 or more union-backed employees raised wages by 5.19%, while smaller firms increased pay by 4.45%. Australia's trade surplus is expected to narrow to 6.3 billion Australian dollars ($4.23 billion) from about AU$ 6.5 billion.
Persons: Topix Organizations: Hong Kong Stock Exchange, Nikkei, Bank of Japan Locations: Asia, Pacific, Hong Kong
Hong Kong CNN —There are a lot of princesses at Hong Kong Disneyland, but not the ones you think. Hair carefully coiffed, and in full makeup Liang Xiaoyu, 18, is dressed for a day out at Hong Kong Disneyland. Noemi Cassanelli/CNNAnd at Hong Kong Disneyland, Disney characters aren’t the sole fashion inspiration for dedicated fans. Li Mengru, 27, poses for a picture during an interview with CNN, at the entrance of Hong Kong Disneyland on June 7, 2024. Yang Yushen, who also goes by Kris, and his partner Jimmy Redinger like the romantic side of Hong Kong Disneyland.
Persons: “ Duffy, , Liang Xiaoyu, Noemi Cassanelli, CNN Liang, Mary Janes, Duffy, Qin Wuxiao, Jessie, it’s, Charmy Chan, Yanni Chung, Judy, Nick Wilde, , Chan, CNN Oscar Yim, Captain America, Marvel, CNN Jing Hongche, Li Sitan, CNN Charmy Chan, Chung, Li Mengru, Chen Xinyu, Li, Chen, Linda Lee, CNN Li, Cassanelli, Yang Yushen, Kris, Jimmy Redinger, Ankh Wong, Kris Yang, Yang, Zootopia, Hercules ”, Redinger, Disney, Mariko Otomo, Nozomi Yasuda, Yuka Izawa, CNN Otomo, China’s “ meng ”, Mariko Otomo kitted, Deng Chundan, CNN Deng Chundan, Le, Godiva, Chow Tai, Gen, ” Shen Jing, CNN Linda Lee, CNN Chen Xinyu, CNN Lee, CNN Chen, lacy Organizations: Hong Kong CNN, Disney, CNN, Hong Kong Baptist University, USA, Captain, Hong Kong Disneyland, Marvel, , Hong, Hong Kong Tourism, Hong Kong Locations: Hong Kong, Guangzhou, Hong, China’s Fujian, Guangdong, Japan, Arendelle, Tomorrowland, Tsim Sha Tsui, China, Southeast Asia, Philippines, Thailand, Singapore, South Korea, Grizzly Gulch, United States, Chinese, Hebei, Asia, Hangzhou
China's BYD opens EV factory in Thailand, first in Southeast Asia
  + stars: | 2024-07-04 | by ( ) www.cnbc.com   time to read: +2 min
China's BYD opens its first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market, in Rayong, Thailand, July 4, 2024. China's BYD opened an electric vehicle plant in Thailand on Thursday, the automaker's first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player. "Thailand has a clear EV vision and is entering a new era of auto manufacturing," BYD CEO and President Wang Chuanfu said at the opening ceremony. The BYD plant is part of a wave of investment worth more than $1.44 billion from Chinese EV makers who are setting up factories in Thailand, helped by government subsidies and tax incentives. Other EV rivals in the local market include Great Wall Motor, which also has a production facility in Thailand, and U.S. automaker Tesla.
Persons: China's BYD, Wang Chuanfu, Narit Therdsteerasukdi, Liu Xueliang, Tesla Organizations: EV, HK, Toyota Motor, Honda Motor Co, Isuzu Motors, ASEAN, Thailand's, of Investment, European, BYD's, BYD's Asia Pacific, BYD, U.S Locations: Southeast Asia, Rayong, Thailand, China, Hong Kong, BYD, Hungary, BYD's China, BYD's Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNomura economist names two biggest 'winners' if protectionism against China rises in AsiaSonal Varma of Nomura says India and Malaysia are the "top two" when it comes to supply chain relocation strategy.
Persons: Asia Sonal Varma, Nomura Organizations: Nomura Locations: China, Asia, India, Malaysia
“Russian-Chinese cooperation in global affairs serves as a main stabilizing factor on the international stage, and we continue to further enhance it,” Putin said. China has surpassed the European Union to become Russia’s top trade partner, offering a crucial lifeline to its heavily sanctioned economy. The two nuclear-armed neighbors have also continued to hold joint military exercises, including with Iran. Both moves are widely seen as part of a broader push by Xi and Putin to create an alternative world order that is no longer dominated by the West. Xi said Wednesday that China backed Russia’s role as BRICS chair this year in uniting the Global South, preventing a “new Cold War” and opposing hegemonism, according to state-run news agency Xinhua.
Persons: Hong Kong CNN — Russia’s Vladimir Putin, Xi, Putin, ” Putin, , , ” Xi, Organizations: Hong Kong CNN, Wednesday, Shanghai Cooperation Organization, SCO, , Union, Foreign Ministry, West, China, Xinhua Locations: Hong Kong, Kazakhstan, Russia, China, Russian, Moscow, Central Asia, United States, Belarus, Ukraine, Iran, Beijing, North Korea, Europe,
Goldman Sachs has refreshed its lists of top global stock picks for July, adding some and removing others. The stocks are featured in the investment bank's "Conviction List - Directors' Cut" which seeks to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. Stocks on the list are selected by a subcommittee designated by the bank's Investment Review Committee for each region. "The subcommittee will collaborate with each sector analyst to identify top ideas that offer a combination of conviction, a differentiated view and high risk-adjusted returns," Goldman Sachs said. The investment bank's analyst Ben Andrews expects the company's organic growth and margins to surpass consensus estimates.
Persons: Goldman Sachs, Ronald Keung, Keung, Goldman, Ben Andrews, — CNBC's Michael Bloom Organizations: bank's Investment, Tencent Holdings China, HK, Hong Kong Stock Exchange, U.S, ISS, Copenhagen Stock Exchange Locations: Asia, Pacific, Europe, Danish, U.S
A job French people don’t want? Half of the 86,000-plus chefs in the French capital are immigrants, according to data published by the French National Institute of Statistic and Economic Studies in 2022. Often in Paris, the kitchens are very small, so it’s a very strenuous job,” Mousson said. “For a small business like us, we cannot afford to hire multiple people in the kitchen,” Mousson said. While it remains to be seen if the party can capture an absolute majority in the French National Assembly, it will almost certainly become the biggest force in the new parliament.
Persons: Pinardier, It’s, Sazal Saha, Saha, He’s, ” Saha, , I’m, , Xiaofei Xu, Olivier Dussopt, Florian Mousson, Le Pinardier, Mousson, ” Mousson, Le, he’s, Mousson’s, Organizations: Paris CNN —, Bretagne, Le, Curie School, CNN, European Union, French Labor, French National Institute, Studies, Rassemblement National, Mousson’s, Craigslist, , Saha, National, French Interior Ministry, French National Assembly Locations: Paris, Kuhlna, Bangladesh, Joliet, France, Europe, Sri Lanka, Marseille, South Asia, Comoros, French
The US blocked China from importing advanced Nvidia chips in 2022, so some travelers are smuggling them in their luggage, The Wall Street Journal reported. The outlet reviewed records, including customs filings, that showed Nvidia chips were being purchased by Chinese buyers in an underground market. Related storiesThe demand for Nvidia's most advanced chips is so acute because they're regarded as crucial for training AI models. AdvertisementReuters reported in April that Chinese universities and research institutes, including the Chinese Academy of Sciences, obtained Nvidia chips through resellers. The Department of Commerce implemented the Advanced Computing Chips Rule , which makes it harder for China to import AI chips from American manufacturers.
Persons: , Nvidia didn't Organizations: Service, Nvidia, Street Journal, Business, Financial Times, Reuters, Chinese Academy of Sciences, House, of Commerce Locations: China, Beijing, Asia
Extravagant pre-wedding celebrations have already sent Indian media into a frenzy and social media feeds are abuzz over what’s to come. Anant Ambani and Radhika Merchant at their pre-wedding celebrations in Jamnagar, Gujarat, India on March 1, 2024. The Ambani pre-wedding celebrations had elaborate floral arrangements. Actor Ranveer Singh and his wife and actor Deepika Padukone pose for a photo during the pre-wedding celebrations earlier this year. Coordinating with Merchant, Ambani also wore a custom black suit designed by Wun, encrusted with jewels.
Persons: Anant Ambani, Radhika Merchant, Mark Zuckerberg, Bill Gates, partygoers, Katy Perry, Andrea Bocelli, Mukesh, Nita Ambani –, Reuters Ambani, Mukesh Ambani, Ambani, Anant, Viren Merchant, Nita, Manish Malhotra, , Merchant, , Radhika, Mangal Utsav, Vishnu, Nita Ambani, Manish Malhotra Malhotra, Ranveer Singh, Deepika Padukone, Malhotra, Sabyasachi Mukherjee, Tarun Tahiliani, lehenga, Manish Malhotra Ambani’s, Rohit Bal, Lorraine Schwartz, Versace, Blake Lively, Robert Wun, ” Mareesha, Salman Khan, Ram Charan, Shah Rukh Khan, Aamir Khan, Narendra Modi, ” Parikh, Vanessa Almeida, Jamnagar Organizations: CNN, Backstreet Boys, Convention, Reliance Industries, Reuters, Bloomberg, Brown University, Reliance, pharma, Viren, Encore Healthcare, New York University, Vogue, sangeet, Sangeet, Merchant, All India Traders Locations: what’s, Jamnagar, Europe, Mumbai, Gujarat, India, Jamnagar ., Bharatnatyam, Agra, Uttar Pradesh, Hong Kong, Goa
Allies of the United States had already been looking at the country’s upcoming election with anxiety. Now, with the United States Supreme Court granting an unprecedented expansion of executive power by giving presidents legal immunity, analysts in some of those countries are even more concerned about the reliability of American power. “We cannot maintain a stable national security relationship.”Mr. Komamura added that the Supreme Court’s decision now gave the perception of an American president who can operate above the law. “This may be rude to the U.S., but it is not that different from Xi Jinping in China,” he said. “The rule of law has become the rule of power.”
Persons: , Keigo Komamura, ” Mr, Komamura, Xi Organizations: United States, Keio University Locations: United States, Asia, Europe, Russia, North Korea, China, U.S, Tokyo
Natural gas has historically been a regional commodity, with supply limited by pipeline networks. "Natural gas is starting to resemble oil in that there's a more global market emerging for it," Antia told CNBC in an interview. The global capacity to liquefy natural gas has grown 60% since 2014, reaching 483 million metric tons annually as of February 2024, according to the IGU. Cheniere: LNG powerhouse The U.S. dominates the global LNG market, accounting for 21% of global exports last year and shipping 84 million metric tons, according to the IGU. Cheniere Energy , a global LNG leader based in Houston, is an opportunity for investors who want exposure to the growing global gas market, Antia said.
Persons: Shehriyar Antia, PGIM, Antia, Bernstein, Cheniere, Morgan Stanley, Biden, Mark Menezes, CNBC's, Menezes, Trump Organizations: Prudential Financial, CNBC, International Gas Union, Cheniere Energy, York Stock Exchange, Department of Energy, U.S, LNG, European Union, U.S . Department of Energy, European, United States Energy Association Locations: U.S, Houston, Cheniere's, of Mexico, Indonesia, China, India, Japan, South Korea, Europe, Asia, Russia, Moscow, Ukraine, United Kingdom, European Union
Members of the Shanghai Cooperation Organization are meeting in Kazakhstan Wednesday. Russia and China are competing over influence in Central Asia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe leaders of a club of countries touted by Russia and China as a counterweight to Western global power are meeting this week in Kazakhstan. At the Shanghai Cooperation Organization (SCO) in Kazakhstan's capital Astana, Russia's President Vladimir Putin is scheduled to meet China's President Xi Jinping.
Persons: , Vladimir Putin, Xi Jinping Organizations: Shanghai Cooperation Organization, Kazakhstan, Service, SCO, Astana, China's, Business Locations: Russia, China, Central Asia, Kazakhstan, Kazakhstan's
Typically, Americans learn about the clandestine depravities undertaken abroad by their government only decades after the offenses were committed. When the Pentagon was confronted with the report, its spokeswoman didn’t just acknowledge the existence of these sorts of programs; she appeared to defend them. The Reuters report is very much worth reading in full, a showcase of American recklessness in what may already be a new age of Spy vs. Spy psyops. But we’ve had very little reporting, or reckoning, with what the American side of that information war might look like. ), to counter adversary malign influence”; that “this process is deliberate, methodical and comprehensive”; and that this work employs “a variety of platforms, including social media, to counter those malign influence attacks.” The Chinese have been, predictably, more hyperbolic: An editorial in the Chinese Communist Party-run Global Times called the social media campaign simply “brainwashing.”
Persons: Chris Bing, Joel Schectman, didn’t, we’ve, Organizations: Reuters, Department of Defense, Pentagon, Chinese Communist Party, Times Locations: Philippines, Central Asia, China, Russia
Coal-fired power plants in Mariveles, Bataan, the Philippines, on June 6, 2023. Bloomberg | Bloomberg | Getty ImagesThe Philippines' dependency on coal-fired power surged 62% last year, overtaking China, Indonesia and Poland, according to London-based energy think-tank Ember. The Philippines was also the most coal-dependent country in Southeast Asia in 2023, as adoption of renewable electricity generation remained low. Indonesia and the Philippines are the two most coal dependent countries in Southeast Asia and their reliance on coal is growing fast. Ember"To date, dependency on these coal power plants continues."
Persons: Setyawati, , there's Organizations: Bloomberg, Getty, Southeast, Ember Climate, CNBC Locations: Mariveles, Bataan, Philippines, China, Indonesia, Poland, London, Southeast Asia, India
With Russia mired in a long war in Ukraine and increasingly dependent on China for supplies, Beijing is moving quickly to expand its sway in Central Asia, a region that was once in the Kremlin’s sphere of influence. Russia, for its part, is pushing back hard. As the leaders of Central Asian countries meet with the presidents of China and Russia this week in Astana, the capital of Kazakhstan, China’s rising presence is visible in the region. Flag-waving Kazakh children who sang in Chinese greeted Xi Jinping, China’s leader, upon his arrival in Astana on Tuesday. But as the group has expanded its membership, China and Russia have used it as a platform to showcase their ambitions of reshaping a global order dominated by the United States.
Persons: Xi Jinping, Vladimir V, Putin Organizations: Russia, Central, Shanghai Cooperation Organization Locations: Ukraine, China, Beijing, Central Asia, Russia, Astana, Kazakhstan, United States
“We know that the Denisovans lived, occupied the cave and this Tibetan plateau for such a long time, we really want to know, how did they live there? Analysis of bone fragments unearthed during excavations at Baishiya Karst Cave have revealed what animals Denisovans butchered, ate and processed. Traces of Denisovan DNA found in present-day people suggest the ancient species likely once lived across much of Asia. Many of the bones recovered from Baishiya Karst Cave, like this spotted hyena vertebra, contain traces of human activities such as cut marks. Unlike Denisova Cave, which was occupied by early modern humans and Neanderthals as well as Denisovans, current evidence suggests that Denisovans were the only group of humans to live at Baishiya Karst Cave, Zhang said.
Persons: CNN — Denisovans, Denisovans, , Dongju Zhang, Zhang, Denisovan, Frido Welker, Xia Li, Welker, Dongju, Samantha Brown, ” Brown Organizations: CNN, Lanzhou University, Globe, Paleoanthropology, University of Copenhagen, Mass, Junior, Palaeoproteomics, Germany’s University of Tübingen Locations: Xiahe, China’s Gansu, , China, Lanzhou, Cave, Altai, Siberia, Asia, Laos, Southeast Asia, Ganjia, Australia
LONDON — European stocks closed higher Wednesday, as sentiment remains on edge ahead of two major elections. The index provisionally closed 0.8% higher, with most sectors in the green led by mining stocks, up 2.3%. Maersk shares ticked 3.8% higher after the shipping giant withdrew from sales talks with logistics firm DB Schenker. It comes as figures showed softening in the U.S. labor market. ADP data showed less private payroll growth than expected in June, while weekly jobless claims numbers came in higher than forecast.
Persons: Vincent Clerc, Jerome Powell Organizations: Maersk, DB Schenker, Labour Party, Reuters, U.S, Federal Locations: France, Asia, Pacific, U.S
We didn’t know whether we’d get to the end.”Record-setting journeyOllie Gamblin and Lavi Scholl have set the record for the youngest duo to circumnavigate the globe by motorbike. Keen to take things further, the couple began planning a cycling trip around the world. The couple, known as “Lavi and Ollie” were loaned a Suzuki V-Strom 1050XT by UK dealership Motorcycle World, and Gamblin says he fell over while riding out of the parking lot. “That was really, really challenging for me,” Scholl says. They plan to head off on a UK-based riding trip so that Scholl can improve her motorcycle skills.
Persons: CNN —, Lavi Scholl, Ollie Gamblin, , we’d, Oliver Gamblin, , Scholl, Gamblin, Keen, Lavi, Ollie ”, Suzuki, Strom 1050XT, Ollie, hadn't, Oliver Gamblin “, “ We’ve, ” Scholl, they’d, Elvis, ” “, Oliver Gamblin Gamblin, who’d Organizations: CNN, CNN Travel, , Las Vegas, Guinness World Records, UK, Google, Geographic, YouTube Locations: Morocco, Argentina, Mongolia, Las, Australia, New Zealand, Germany, England, London, , Russia, Ukraine, France, Spain, Senegal, Brazil, South America, Bolivia, Peru, Chile, Ecuador, Colombia, Panama, North America, Las Vegas, , Canada, Seoul, South Korea, Vladivostok, gers, Central Asia, Kazakhstan, Europe, Dover
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKnight Frank outlines factors behind slowing demand in Singapore's high-end property segmentChristine Li, head of research for Asia-Pacific at Knight Frank, says "high net worth individuals are a little bit concerned" in light of a money laundering case, among other things.
Persons: Frank, Christine Li, Knight Frank Locations: Asia
Eighteen months on, Adani — who has denied any wrongdoing — has largely recovered from the broadside and the tiny US short seller has revealed how much it made betting against the Indian billionaire: just over $4 million. In its blistering report last year, Hindenburg had accused the Adani Group of “brazen stock manipulation” and questioned the “sky-high” valuations of the ports-to-power conglomerate’s firms. Hindenburg said it had taken a short position in the group’s companies, meaning it would benefit if their shares fell. The short seller, named after the 1937 airship disaster, said in Monday’s statement that it made just $4.1 million in gross revenue through gains related to Adani short positions from a relationship with unnamed investor and about “$31,000 through our own short of Adani US bonds.”“Net of legal and research expenses (including time, salaries/compensation, and costs for a 2-year global investigation) we may come out ahead of breakeven on our Adani short,” it added. The Adani Group immediately denounced the accusations as “baseless” and “malicious,” but failed to halt the staggering stock market meltdown that followed.
Persons: Gautam, Asia’s, Adani —, , Hindenburg, , SEBI, ” Hindenburg, Mukesh Ambani Organizations: New, New Delhi CNN, Hindenburg Research, Securities and Exchange Board, ” CNN, Adani Locations: New Delhi, New York, India, breakeven, India’s
“This discovery is important because it shows that after the extinction of the dinosaurs, grapes really started to spread across the world.”Much like the soft tissues of animals, actual fruits don’t preserve well in the fossil record. How ancient forests changedWhen the dinosaurs went extinct, their absence changed the entire structure of forests, the team hypothesized. “In the fossil record, we start to see more plants that use vines to climb up trees, like grapes, around this time,” Herrera said. Meanwhile, as a diverse set of birds and mammals began to populate Earth after the disappearance of the dinosaurs, they likely also helped spread grape seeds. Several fossils are related to modern grapes and others are distant relatives or grapes native to the Western Hemisphere.
Persons: hadn’t, , Fabiany Herrera, , ” Herrera, Steven Manchester, Herrera, “ I’ve, Mónica Carvalho, Carvalho, , Arthur T, Susman, Gregory Stull, ” Carvalho Organizations: CNN, Field, Research, University of Michigan’s, of Paleontology, South, Field Museum, National Museum of, Central, Western Locations: Colombia, Panama, Peru, India, South America, Western, Colombian, American, South, Central America, Central, Asia, Africa
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