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The visit — the first by a G7 leader to China in roughly three years — comes as Germany slides towards recession. A spokesperson for Hamburger Hafen und Logistik (HHLA), the company operating the port terminal, told CNN Business on Thursday that it was still negotiating the deal with Cosco. “The restrictions are suffocating economic growth and heavily impact China’s attractiveness as a destination for foreign direct investment,” he told CNN Business. The ministry did not respond to a request for comment from CNN Business. He predicted that “the large majority will stay committed to the Chinese market and is expecting to expand their business.”Companies appear to be toeing that line.

☆ Saudi crown prince launches Ceer, first Saudi electric vehicle brand
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Nov 3 (Reuters) - Saudi Arabia's crown prince Mohammed bin Salman has launched Ceer, the first Saudi electric vehicle brand, expected to be available in 2025, the state news agency (SPA) reported on Thursday. Ceer will attract over $150 million of foreign direct investment and is projected to directly contribute $8 billion to the kingdom's GDP by 2034, SPA added. The company is a joint venture between Saudi Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), SPA said. Reporting by Alaa Swilam; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Canada orders three Chinese firms to exit critical minerals deals
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Nov 2 (Reuters) - Canada's government ordered three Chinese firms on Wednesday to divest their investments in Canadian critical minerals companies on grounds of national security. "While Canada continues to welcome foreign direct investment, we will act decisively when investments threaten our national security and our critical minerals supply chains, both at home and abroad," Champagne said. Last week, Ottawa said it must build a resilient critical minerals supply chain with like-minded partners, as it outlined rules meant to protect the country's critical minerals sectors from foreign state-owned companies. Canada has large deposits of critical minerals like nickel and cobalt, which are essential for cleaner energy and other technologies. Earlier this year, Canada, the United States, Britain and a few other countries established a new partnership aimed at securing the supply of critical minerals as global demand for them rises.

☆ China to encourage more foreign investment in manufacturing industry
▼ + stars: | 2022-11-02 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: The sign of China World is seen near buildings in Beijing's central business area, China January 17, 2020. REUTERS/Jason LeeBEIJING (Reuters) - An official of China’s state planner said on Wednesday that the country’s foreign investment has increased steadily so far this year and that it will encourage more foreign investment in the manufacturing industry. Xia Qing was speaking at an APEC workshop on supply chains in Beijing. China’s foreign direct investment (FDI) rose 15.6% from a year earlier in the first nine months of the year to 1 trillion yuan ($138.52 billion) after a 16.4% growth in January-August, according to data from the Ministry of Commerce.

As recently as August, Lachlan Murdoch described sports betting as "a huge opportunity" for Fox Sports, telling Wall Street it would fuel viewer engagement. The sports betting app Fox Bet is available in four states, with just 0.2% share of the U.S. market, according to researcher Vixio. A free version called Fox Bet Super 6 has attracted some 6 million users whom Fox hopes to eventually convert to gamblers. The growth of Fox Bet has stagnated since market-leading FanDuel's owner, Flutter Entertainment Plc (FLTRF.L), acquired Stars Group in 2020. The matter is the subject of an arbitration case and Lachlan Murdoch told investors a decision is expected imminently.

LISBON, Nov 2 (Reuters) - Portugal is likely to scrap its "golden visa" programme giving wealthy foreigners residence rights, Prime Minister Antonio Costa said on Wednesday, saying that the 10-year-old scheme had already fulfilled its role. Speaking at Lisbon's Web Summit, Europe's largest tech event, Costa said several visa schemes offered by Portugal were currently being re-evaluated and the golden visa was one of them. Costa said Portugal wanted to continue to be attractive, with one example being its recent law, enacted on Monday, that created the so-called digital nomads visa. It gives foreigners with high monthly income from remote work to live and work from Portugal for a year. read moreReporting by Catarina Demony; Additional reporting by Patricia Rua; Editing by Andrei Khalip and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Nearly 50% of Gen Z and millennials want crypto investments in their 401(k)s—here's why it's a risky move
▼ + stars: | 2022-11-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

If you're dreaming of combining your cryptocurrency investments with your retirement savings, you're not alone. If an employer offers this option, employees can invest up to 20% of their 401(k)s in bitcoin. Adding cryptocurrency to your retirement portfolio may drag down its overall performance, McBride adds. This helps to reduce the volatility of your portfolio since you're not overly invested in one specific type of asset. "They recognize the value in speculative assets but also recognize the value of guaranteed income as they approach retirement," says Nathan Voris, director of investments, insights and consultant services at Schwab retirement plan services.

☆ Suspension of oil exploration in Colombia would be high risk -fiscal paneld
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

BOGOTA, Oct 31 (Reuters) - Income derived from hydrocarbon exploration and production in Colombia is key to the country's financial stability and its trade balance, its fiscal rule committee said on Monday, and suspension of exploration would put fiscal sustainability at risk. Hydrocarbons represent nearly 40% of exports, 20% of foreign direct investment and between 10% and 20% of the national government's income, the Autonomous Fiscal Rule Committee (CARF), which oversees public finances, said in a statement. "Certainty about future income is indispensable to maintain financing sources and an adequate level of risk," it said. The high level of public debt is a fiscal risk and high interest rates, increased risk premiums and a deep depreciation of the peso currency will mean higher interest rates on the country's debt, CARF said. For that reason it is important that planning for the resources which come from the tax reform is done in concurrence with the fiscal rule and its objective to reduce net debt."

☆ Asia would be the biggest loser if the global economy splits up, IMF warns
▼ + stars: | 2022-10-28 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

Asia-Pacific has more to lose than any other region if the global trade system splits up in the wake of geopolitical tensions, the International Monetary Fund warned. Sectors in Asian countries forced to contract because of reduced trade could suffer average employment losses of as high as 7%, the IMF added. Asia has more to lose than any other region if the global trade system splits up, the International Monetary Fund warned. U.S.-China trade tensionsSigns of global fragmentation emerged during the trade war between the U.S. and China in 2018. The impact of trade fragmentation is greater for emerging markets in Asia and for firms with high debt.

☆ GM's plan to build 400,000 EVs in North America has been delayed by up to 6 months because it hasn't been able to make batteries fast enough
▼ + stars: | 2022-10-26 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

GM has delayed a plan to build 400,000 EVs in North America. CEO Mary Barra said Tuesday the launch of battery production had been slower than expected. Barra told investors in February that GM planned to make 400,000 EVs in North America through 2023, per Automotive News. Barra wants GM to build one million electric vehicles in North America by 2025. GM plans to open a second next year, and another in 2024.

Wedbush analyst Dan Ives in a research note called the results a "major step in the right direction for the Detroit stalwart." GM reaffirmed its guidance for full-year net income of $9.6 billion to $11.2 billion, and full-year diluted earnings per share of $5.76 to $6.76. The automaker reported net income of $3.3 billion, compared with $2.4 billion a year earlier. The automaker said higher volume in the quarter drove a $5-billion gain, with higher prices contributing a $2.1 billion gain, offset by $3.6 billion in additional logistics costs. GM's China income climbed to $330 million, compared with $270 million a year earlier.

DETROIT, Oct 25 (Reuters) - General Motors Co (GM.N) shares rose almost 5% in premarket trade on Tuesday as the company reported a higher quarterly profit that beat analysts' estimates. GM reaffirmed its guidance for full-year net income of $9.6 billion to $11.2 billion, and full-year diluted earnings per share of $5.76 to $6.76. Diluted earnings per share in the third quarter of $2.25 topped estimates of $1.88. Register now for FREE unlimited access to Reuters.com RegisterThe automaker reported net income of $3.3 billion, compared with $2.4 billion a year earlier. The automaker said higher volume in the quarter drove a $5 billion gain, with higher prices contributing a $2.1 billion gain, offset by $3.6 billion in additional logistics costs.

☆ How Google's former CEO Eric Schmidt helped write AI laws in Washington without publicly disclosing investments in AI start-ups
▼ + stars: | 2022-10-24 | by ( Eamon Javers | ) www.cnbc.com time to read: +18 min

'Conflict of interest'Schmidt's investment was just the first of a handful of direct investments he would make in AI start-up companies during his tenure as chairman of the AI commission. Altogether, Schmidt and entities connected to him made more than 50 investments in AI companies while he was chairman of the federal commission on AI. To Poulson, Schmidt was simply given too much power over federal AI policy. The new entity would continue the work of the congressionally created federal commission, with many of the same goals and much of the same staff. More than a dozen staffers from the federal commission followed Schmidt to the new private sector project.

General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. JPMorgan and Goldman Sachs made nearly $77 million and $42 million respectively in investment banking fees in Saudi Arabia last year, Refinitiv data showed. "For the most part, I do not see U.S. companies actively avoiding Saudi Arabia due to recent political tensions," said Adel Hamaizia, managing director at Highbridge Advisory and a visiting fellow at Harvard University. FDI FLATForeign direct investment still lags behind targets, though there has been movement in new sectors as the kingdom opens up. As Boeing netted an $80 million defence contract last year, Fedex announced a $400 million 10-year investment plan in the country, the Arab world's biggest economy.

☆ Pakistan taken off global watchdog's 'grey' list for terrorism financing
▼ + stars: | 2022-10-21 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +2 min

ISLAMABAD, Oct 21 (Reuters) - Pakistan has been removed from an international grey list that warrants increased surveillance for terrorism financing, the head of the international money laundering watchdog which makes the list said on Friday. Kumar said a FATF team had visited Pakistan and was satisfied with the implementation of the programme. "Pakistan exiting the FATF grey list is a vindication of our determined and sustained efforts over the years," Prime Minister Shehbaz Sharif said on Twitter. Even though the country had been removed from list, "there is work to be done," Raja said, adding that the FATF encouraged Pakistan to strengthen its monitoring mechanisms. With its removal from the list, Pakistan would essentially receive a reputational boost and get a clean bill of health from the international community on terrorist financing.

ISLAMABAD, Oct 20 (Reuters) - The Financial Action Task Force (FATF), a global money laundering and terrorism financing watchdog, starts a two-day meeting in Paris on Thursday and is expected to take up removal of Pakistan from a list of countries under "increased monitoring". In a meeting in June, the FATF said it was keeping Pakistan on the list - also known as the "grey list" - but said it might be removed after an on-site visit to verify progress. Register now for FREE unlimited access to Reuters.com RegisterHere are some key points:WHAT WOULD IT MEAN FOR PAKISTAN? If removed from the list, Pakistan would essentially receive a reputational boost and get a clean bill of health from the international community on terrorist financing. Removal from the FATF list would provide Pakistan a boost after the country's sovereign credit rating was downgraded by Moody's.

☆ 15 venture capitalists that early-stage sports tech, health, and wellness founders should know if they're looking to raise capital
▼ + stars: | 2022-10-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +17 min

Other recent investments include Bumble, Goop, Spring Health, Chief, Found, Daily Harvest, and Blueland. Recent investments include the sneaker-trading platform Tradeblock, which touts itself as an alternative to StockX and Goat. Recent investments include AnyDistance, Balanced, and Juna. Her recent investments include Calibrate, DUOS, Dutch, and Buffalo Market, a food distributor focused on plant-based and organic foods. Recent investments include pickleball products company Revolin, live-sports artificial-reality company Quintar, recovery products company Alleviate, and community cycling app Preem.

Monthly debt market data shows foreign investors have been net sellers for seven straight months to August as what had been a lucrative yield premium in China vanished as U.S. interest rates soared. GIMME SHELTERAmid foreign investors' exodus, there are signs of locals following as fast as allowable under capital controls that were tightened after the previous season of heavy outflows in 2016. Moving money is also very difficult as COVID-19 curbs on travel add another layer to capital controls. Data from consultancy Education International Cooperation showed a 41.5% jump in queries about study in Hong Kong between January and July, compared with the same period a year earlier. They expect a rush to Hong Kong products when the border between Hong Kong and the mainland reopens.

☆ Vietnam economy seen growing 8% in 2022, beating official target - govt
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

HANOI, Oct 11 (Reuters) - Vietnam's economy is expected to grow 8% this year, beating an official target for an expansion of 6.0%-6.5%, the government said on Tuesday. Vietnam, a regional manufacturing hub, has seen its economy rebounding from the pandemic, with gross domestic product in the third quarter growing 13.67% from a year earlier. The government said it will pursue "a flexible and prudent" monetary policy during the rest of the year to ensure macroeconomic stability. Vietnam will aim for a growth of 6.5% and will consider an inflation target of 4.5% next year, the government said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Khanh Vu; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Wealthy millennials aren't relying on the stock market. Here's how their investment portfolios break down.
▼ + stars: | 2022-10-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Only 32% of older investors said the same. The wealthy millennials surveyed said they allocate 25% of their portfolios to stocks, compared to 55% for older investors. Cryptocurrency is popular among these millennials as well, accounting for 15% of their portfolios compared to only 2% for older investors. Wealthy millennials see cryptocurrency as the best investmentLooking forward, the wealthy millennial investors ranked cryptocurrency or digital assets, real estate, private equity, and direct investment into companies offer the "greatest opportunities for growth." Older investors favored US stocks, followed by real estate and equities in the emerging and international markets.

☆ More investors are betting on India. But not all of it is worth the hype, according to analysts
▼ + stars: | 2022-10-11 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

But for the moment, I can understand why India is an attractive market for a lot of foreign institutional investors." Indian Prime Minister Narendra Modi has plans to make India a $5 trillion economy by 2024-25. While downgraded, India's growth forecast still cuts higher than others in the Asia-Pacific. Modi has plans to make India a $5 trillion economy by 2024-25, while Adani said at a recent Forbes conference in Singapore that India will go from a $3 trillion economy to a $30 trillion one in the next 25 years. Adani said at a recent Forbes conference in Singapore that India will go from a $3 trillion economy to a $30 trillion one by 2050.

☆ India's startup market may be behind China's, but it has 'tremendous potential,' says Facebook co-founder
▼ + stars: | 2022-09-29 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

India's startup market is worth betting on, though it's still "a few years" behind China's, Facebook co-founder Eduardo Saverin said. "I think India is a huge market with just tremendous potential," Saverin said, in response to a question on why India's startup ecosystem has not generated better returns. "And I think as the market continues to mature, and as you get into a better macroeconomic environment, it is a market to bet on, combined with Southeast Asia." According to India's Ministry of Finance report from August, the country's foreign direct investments in the first quarter of the year still lagged behind China's. "And actually, some of the biggest companies out there, I think Microsoft started during a recession."

☆ U.S. current account deficit in shrinks in second quarter
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Lucy NicholsonWASHINGTON, Sept 22 (Reuters) - The U.S. current account deficit narrowed sharply in the second quarter amid a surge in goods exports, data showed on Thursday. The Commerce Department said that the current account deficit, which measures the flow of goods, services and investments into and out of the country, contracted 11.1% to $251.1 billion last quarter. The current account gap represented 4.0% of gross domestic product, down from 4.6% in the January-March quarter. GDP contracted at a 0.6% annualized pace in the second quarter after declining at a 1.6% rate in the January-March quarter. Primary income receipts rose $21.1 billion to $299.1 billion, while payments of primary income increased $16.2 billion to $255.5 billion.

☆ Millennials and Gen Z want to stop a climate catastrophe. But first they have to get elected.
▼ + stars: | 2022-09-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +24 min

Sen. Dianne Feinstein, a California Democrat, told young climate activists in 2019, "You didn't vote for me." AP Photo/Gemunu AmarasingheBut most policy debates aren't genuinely existential in the way climate change is. "Younger Democrats tend to have a much more friendly relationship and response to the party's activist class than older Democrats do." Fossil-fuel interests have played a central role in stymieing progress on climate change for decades. Nearly a decade later, Trump ran for and won the presidency — with Gingrich's early and staunch support — while calling climate change a "hoax."

The Ethereum blockchain's mega-upgrade finally went live on Sept. 15, moving it to a less energy-intensive "proof of stake" (PoS) system with hardly a hiccup. Some crypto investors are now turning their attention to the next event that could shake up prices. It would allow validators, who have deposited ether tokens on the blockchain in exchange for a yield, to withdraw their staked coins, to hold or sell. Longer-term, though, the switch to PoS is expected to decrease the rate at which ether tokens are issued - potentially by up to 90% - which should drive up prices. Additionally, annual yields of 4.1% for staking ether tokens to validate transactions could prove tempting for investors.

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