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REUTERS/Phil Noble/File Photo Acquire Licensing RightsFRANKFURT/MUNICH, Oct 26 (Reuters) - German technology groups have warned they are being hit by delays in getting China-bound exports through customs, following the introduction of a German government strategy to reduce economic dependence on demand from China. German chip-making kit supplier Suess MicroTec (SMHNn.DE) late on Wednesday cut its sales forecasts for the second time in three months, blaming tightened controls for exports to China. German customs and the Federal Office for Economic Affairs and Export Control (BAFA) did not immediately respond to a request for comment. Lobby group Asia-Pacific Committee of German Business (APA) told Reuters the BAFA office was appearing to scrutinise export requests more closely or escalate requests to the economy ministry more often. Still, the German chamber of commerce said the political environment was hobbling exports to China.

Persons: Phil Noble, Suess, Friedolin Strack, Burkhardt Frick, Martin Wansleben, Alexander Huebner, Rene Wagner, Christian Kraemer, Thomas Escritt, Anneli, Ludwig Burger, David Holmes Organizations: REUTERS, Federal Office, Economic Affairs, Export Control, Pacific Committee, German Business, Reuters, Thomson Locations: Hamburg, Germany, FRANKFURT, MUNICH, China, Asia, Munich, Berlin, Duesseldorf, Frankfurt

☆ Women Who Work in Utah's Silicon Slopes Share Its Dark Side
▼ + stars: | 2023-10-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +17 min

During an interview for an engineering job at a Utah tech company, Trina Limpert was told she was a "risky hire." Insider spoke to 22 women who previously or currently work at Utah tech companies told Insider. Silicon Slopes, named for Utah's world-class ski slopes, is headquarters for tech companies like Ancestry, Domo, Entrata, Pluralsight, Qualtrics, and hosts outposts for others like Adobe and a Meta data-center. Many women — both Mormon and not — described their Utah tech companies as a Mormon boys' clubs. Ancestry, one of Utah's most established tech companies, hired former Facebook executive Deborah Liu as CEO in 2021.

Persons: Trina Limpert, Limpert, she's, she'd, Claudia Geist, It's, of Jesus Christ, Robyn Cohen, Michelle Kuo, Kuo, They're, —, Robbyn Scribner, Mike Pence, they're, Scribner, Susan Madsen, there's, harasser, I've, John Richards, Richards, " Richards, Emily Perkins, that's, Deborah Liu, Liu, Heather Friedland, Ashlee Davis, who've, we're, " Madsen Organizations: Computing Technology Industry Association, Tech, University of Utah, Google, Microsoft, Meta, Adobe, Brigham Young University, of Jesus, US Chamber of Commerce, American Community Survey, Salt Lake City Tribune, Utah State University, Ignition Ventures, NASDAQ Locations: Utah, Silicon Slopes, Silicon Valley, California, Washington, New York , Utah, Utah's, New York, JumpSearch, Silicon, Southern California, Salt Lake, There's, Seattle, Glassdoor, @rosaliechan

☆ US drops digital trade demands at WTO to allow room for stronger tech regulation
▼ + stars: | 2023-10-25 | by ( David Lawder | ) www.reuters.com time to read: +4 min

U.S. Trade Representative Katherine Tai speaks during the Axios BFD event in New York City, U.S., October 12, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - U.S. Trade Representative Katherine Tai has dropped longstanding U.S. digital trade demands in World Trade Organization talks in order to give Congress room to regulate big tech firms, her office said on Wednesday. USTR spokesman Sam Michel said many countries were examining their approaches to data and source code, and how trade rules can affect them. "We need to make clear that digital rules favoring Big Tech monopolies are a non-starter for the U.S. in any trade agreement, including IPEF,” she said. "These digital trade rules prevent countries around the world from using regulation to lock out American companies and their workers from their markets," said John Murphy, the Chamber's senior vice president for international policy.

Persons: Katherine Tai, Brendan McDermid, Trump, Biden, Ron Wyden, ", Wyden, Sam Michel, Michel, Elizabeth Warren of Massachusetts, Tai, ”, USTR, John Murphy, David Lawder, Diane Craft Organizations: Trade, REUTERS, Rights, . Trade, Trade Organization, U.S, Reuters, Prosperity, WIN, Oregon Democrat, Senate Finance Committee, Congress, Intel, Democratic, Big Tech, . Chamber, Commerce, Thomson Locations: New York City, U.S, Geneva, CHINA, China, Australia, Japan, Korea, Oregon, United States, Mexico, Canada

☆ Defense is a 'huge part' of the U.S.-Australia relationship, Australian industry body says
▼ + stars: | 2023-10-25 | 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 EmailDefense is a 'huge part' of the U.S.-Australia relationship, Australian industry body saysAndrew McKellar of the Australian Chamber of Commerce and Industry says the United States is Australia's top strategic partner.

Persons: Andrew McKellar Organizations: Email Defense, U.S ., Australian Chamber of Commerce, Industry Locations: U.S, Australia, United States

☆ Nvidia says U.S. speeded up new export curbs on AI chips
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 24 (Reuters) - Chip designer Nvidia (NVDA.O) said new U.S. export curbs on the sale of its high-end artificial intelligence chips to China came into effect on Monday as regulators advanced the deadline. The restrictions were supposed to come into play 30 days from Oct. 17 when the Biden administration unveiled measures to stop countries, including China, Iran and Russia, from receiving advanced AI chips designed by Nvidia and others. The restrictions bar exports of Nvidia's modified advanced AI chips A800 and H800 - both of which were created for the Chinese market to comply with previous export rules. The Nvidia A100, H100 and L40S chips are also impacted by the curbs.

Persons: Dado Ruvic, Nvidia, Biden, Aditya Soni, Arun Koyyur, Anil D'Silva Organizations: NVIDIA, REUTERS, Nvidia, Devices, U.S . Department of Commerce, Intel, Gaudi, Thomson Locations: China, Iran, Russia, U.S, Bengaluru

☆ Tucker Carlson media company signs its first ad deal
▼ + stars: | 2023-10-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Former Fox News host Tucker Carlson's new media company has officially signed its first advertising deal. Preliminary details of the agreement between Carlson's new media company and PublicSq. Carlson's new company is named Last Country, according to The Wall Street Journal. Carlson's departure from Fox News came after the network's parent company settled Dominion Voting Systems' defamation lawsuit for $787.5 million. Since it went public, PublicSq.

Persons: Tucker, Michael Seifert, Carlson, Seifert, Donald Trump, Vivek Ramaswamy, Nick Ayers, Mike Pence, Former U.S . Sen, Kelly Loeffler, Neil Patel, Patel, Omeed Malik, Malik Organizations: Fox News, CNBC, PublicSq, New York Stock Exchange, Wall Street, Twitter, Republican, Systems, Former U.S ., U.S . Chamber of Commerce, Amazon, Chamber of Commerce, Colombier Locations: PublicSq, Capital

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

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

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

☆ House speaker nominee Tom Emmer is no friend of the U.S. Chamber of Commerce
▼ + stars: | 2023-10-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

U.S. Representative Tom Emmer (R-MN) arrives for a House Republican conference meeting to choose a nominee in the race for House Speaker at the U.S. Capitol in Washington, October 24, 2023. Rep. Tom Emmer is the latest Republican nominee for speaker of the House, and that could mean a fresh headache for the nation's largest business lobbying group. Emmer, like former Speaker Kevin McCarthy, is one of the U.S. Chamber of Commerce's biggest critics among House Republicans. A lack of engagement with House Republican leadership, particularly the speaker, could mean that the Chamber will have little impact on future legislation. The Chamber has continued to support Republicans despite the criticism the group has received from House Republican leadership.

Persons: Tom Emmer, Kevin McCarthy, Emmer, Donald Trump, Trump, McCarthy, Patrick McHenry, who's, Mike Gallagher, Nicole Malliotakis Organizations: Republican, U.S, Capitol, U.S . Chamber, Commerce's, House Republicans, Republican House, House Republican, Chamber, Commerce, Twitter, National Republican Congressional Committee, Republicans, Republican Party, Rep, Federal, Commission, Chamber of Commerce Locations: Washington, China, R, OpenSecrets

Gas accounted for around 51% of Italy's total electricity generation in 2022, making the country the most gas-reliant among Europe's largest economies, data from Ember shows. INDUSTRIAL BASEKey to natural gas' staying power in Italy's generation mix is the country's high level of industrial energy demand. However, Italy's power costs have climbed sharply since Russia's invasion of Ukraine in 2022 cut natural gas supplies to Western Europe and sent regional power costs soaring. This week's ENI deal offers additional protection for consumers by further reducing Italy's reliance on Russia for natural gas supplies, even as it cements Qatar's position as Italy's top LNG supplier. Higher gas supplies may also help reduce overall power costs, and in turn should help boost the competitiveness of Italy-based businesses relative to regional rivals.

Persons: Dado Ruvic, Gavin Maguire, Edwina Gibbs Organizations: REUTERS, Italy's ENI SpA, Gas, Energy Institute, United States, Department of Commerce, LSEG, ENI, Reuters, Thomson Locations: LITTLETON , Colorado, QatarEnergy, Southern, Italy, Europe Italy, Europe, United, Ukraine, Western Europe, Germany, Russia, United States, Algeria, Qatar

☆ U.S. chip export ban is 'great news,' says partner at Chinese tech investment fund
▼ + stars: | 2023-10-23 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

A partner at a Chinese semiconductor investment fund has welcomed the U.S. government's ban of certain advanced chip types to be exported to China, describing the move as "great news" which may stimulate a domestic ecosystem. Nvidia's H100 chip, used by AI firms in the U.S., was banned for sale in earlier U.S. government restrictions. Wang said the fund invests in semiconductor companies, including those in the AI training and autonomous vehicle sectors. One AI chip company Yang Cheng has invested in will launch its initial public offering this year, while a Shanghai-based AI chip firm is valued at more than $3 billion, Wang added, though she didn't name the firms. "We believe those kind of upstream chipmakers — they will drive, or they will play the leading role in China, and they will create their own ecosystem," Wang added.

Persons: Chloe Wang, Yang Cheng, Wang, Nvidia Organizations: U.S, CNBC's East Tech West, U.S . Department of Commerce Locations: China, Guangzhou, Nansha, U.S, Shanghai

☆ Student-loan borrowers could lose more than debt cancellation if the presidential election doesn't go Biden's way
▼ + stars: | 2023-10-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementThe 2024 presidential election is quickly approaching — and there's a lot on the line for student-loan borrowers. While most federal borrowers were not required to make any payments for nearly three years of President Joe Biden's first term, they were also hopeful for broad debt relief. Now the Education Department is in the process of crafting a new plan under a different law. Here's what Republican presidential candidates are saying about the Education Department — and how it could impact millions of student-loan borrowers. And while private banks administer non-federal loans, borrowers with private debt often face higher interest rates without the option for federal relief.

Persons: —, Joe Biden's, Biden, Donald Trump's, Betsy DeVos, Ron DeSantis, Education Department —, Nikki Haley, Tim Scott, Chris Christie, Vivek Ramaswamy, Ramaswamy, Thomas Massie, Massie, Pell, Ronald Reagan Organizations: Department, GOP, Education Department, Service, Republican, Federal Department of Education, of Education, Education Department —, Internal Revenue Service, Department of Commerce, Energy Department, Education, Washington, Federal Locations: Florida, Washington ,

☆ What Is the Government’s Role in Developing—and Regulating—AI?
▼ + stars: | 2023-10-20 | by ( ) www.wsj.com time to read: 1 min

The Commerce Department’s Alan Davidson, center, and Stanford’s Fei-Fei Li, right, at WSJ Tech Live. Li said it’s still an uphill battle for women and people of color trying to make a mark in the AI field. Photo: Nikki Ritcher for the Wall Street JournalAs AI develops, it becomes more of a critical issue in politics. How important is it in our competition with China? Does the field have enough diverse voices?

Persons: Alan Davidson, Stanford’s Fei, Fei Li, Li, it’s, Nikki Ritcher, Wells, Fei Organizations: WSJ Tech, Wall, Stanford Institute for, Intelligence, Commerce Department, Tech Locations: China

☆ China export curbs choke off shipments of gallium, germanium for second month
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

China's exports of wrought germanium products stood at 1 kilogram, versus zero in August after a flurry of buying prior to the restrictions saw shipments of wrought products surge to 8.63 metric tons in July. China exported no wrought gallium products in August and September. Exporters of germanium and gallium products now need to obtain an export licence for dual-use items and technologies, meaning those with potential military and civilian applications. Some Chinese companies have obtained export licences for gallium and germanium products, the Ministry of Commerce said in September. China's exports of wrought germanium totaled 36.49 tons in the first nine months of 2023, up 47.4% on the year, while shipments of wrought gallium fell 61.9% on the year to 22.72 tons over the same period.

Persons: Amy Lv, Dominique Patton Organizations: cnsphoto, REUTERS, Rights, Ministry of Commerce, Shanghai Metals, Thomson Locations: Ningbo Zhoushan, Zhejiang province, China, Rights BEIJING, Beijing, Washington

That decision gives U.S. officials new sway over companies in the Netherlands and Japan, where some of the most advanced chip machinery is made. In particular, U.S. rules will now stop shipments of some machines that use deep ultraviolet, or DUV, technology made mainly by the Dutch firm ASML, which dominates the lithography market. Peter Wennink, the chief executive officer, said that it was “just a handful” of Chinese chip factories where the company would not be able to ship certain tools. But “it is still sales that we had in 2023 that we’ll not have in 2024,” he added. ASML’s technology has enabled leaps in global computing power.

Persons: Vera Kranenburg, ASML, “, ”, Peter Wennink, we’ll, Liesje Schreinemacher Organizations: Clingendael Institute, U.S . Department of Commerce Locations: Netherlands, Japan, U.S, China, Dutch, United States

Tokyo CNN —China has formally arrested a Japanese man who was detained in March, according to officials from Japan’s Ministry of Foreign Affairs (MOFA) and the Japanese Embassy in Beijing. The arrest of the Japanese national, who was reportedly an employee of a Tokyo-based pharmaceutical firm, could further rattle foreign businesses in China, which have reported feeling more unsettled this year amid a crackdown on international consulting firms on national security grounds. According to Japanese public broadcaster NHK, the man was an employee of drugmaker Astellas Pharma and was detained in March by Chinese security authorities in Beijing on suspicion of violating the country’s criminal law and anti-espionage law. In May, state security authorities said they had raided several offices of Capvision, an advisory network. The issue has been cited as headache for foreign businesses, some of which were already having trouble convincing workers to relocate to China.

Persons: Hirokazu Matsuno, Japan’s MOFA, Mao Ning, “, ”, Weeks, Bain, — CNN’s Michelle Toh, Sophie Jeong, Mengchen Zhang Organizations: Tokyo CNN, Japan’s Ministry of Foreign Affairs, Embassy, NHK, drugmaker, Pharma, CNN, Foreign Ministry, Ministry of State Security, Mintz Group, American Chamber of Commerce, China’s Commerce Ministry, State Administration of Foreign Exchange Locations: China, Tokyo, Beijing, MOFA, Shanghai, Hong Kong

☆ China restricts exports of graphite as it escalates a global tech war
▼ + stars: | 2023-10-20 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

“At the moment both China and Western countries are engaged in a tit for tat, highlighting how protectionist measures often spread. China, which dominates the world’s production and processing of graphite, says export permits will be needed, starting in December, for synthetic graphite material — including high-purity, high-strength and high-density versions — as well as for natural flake graphite. China was the world’s leading graphite producer last year, accounting for an estimated 65% of global production, it said. Gallium, germanium restrictionsThe export curbs were announced as China faces pressure from multiple governments over its commercial and trade practices. In July, Beijing imposed export restrictions on gallium and germanium, two minerals essential for making semiconductors.

Persons: ”, Stefan Legge, carmakers, Ivan Lam Organizations: Hong Kong CNN, Ministry of Commerce, Administration, Customs, “, University of St, Institute for Energy Research, EV, International Energy Agency, Geological Survey, Counterpoint Research, US Department of Energy Locations: China, Hong Kong, United States, University of St Gallen, Switzerland, Washington, DC, Europe, Asia, Beijing, Russia, Ukraine

☆ America's electric grid is in shambles. Biden has made the largest federal investment ever to try and fix it.
▼ + stars: | 2023-10-19 | by ( Matthew Daly | Associated Press | ) www.businessinsider.com time to read: +7 min

Biden announced $3.5 billion for 58 projects across the country to strengthen the electric grid. This is the largest federal investment ever made in grid infrastructure, said US Energy Secretary. Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said. AdvertisementAdvertisementThe largest grant, $464 million, will go to improve five transmission projects across seven Midwestern states, from Iowa to North Dakota.

Persons: Biden, Jennifer Granholm, Granholm, Chip Somodevilla, ″, Mitch Landrieu, Joe Biden, Landrieu, Jonathan Foley, Foley, Tim Walz, Steve Karnowski Organizations: US Energy, Service, Wednesday, Energy, Biden, Resilience, White House, Minnesota Gov, AP, of Commerce, CPS Energy, Consumers Energy, Flint, DTE Energy, Portland General Electric Locations: Maui, California, Georgia, Louisiana, American, Oregon, Iowa, North Dakota, Hawaii, California , Oregon , Utah, Minnesota, Locust Grove, Orleans, San Antonio, Texas , Colorado , New Mexico, Wisconsin, Texas, Michigan, Grand Rapids, Detroit

☆ Chinese gallium prices hit 7-month high as demand improves, shipments resume
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsBEIJING, Oct 19 (Reuters) - Chinese prices of chip-making metal gallium hit their highest since February this week on stronger domestic demand and growing hopes of recovering exports, analysts and suppliers said. The spot price of gallium metal reached 1,975 yuan ($269.95) per kg on Oct. 18, up 18% since the start of July and up 8% since Aug. 1, data from consultancy Shanghai Metals Market showed. The Ministry of Commerce said last month that some Chinese companies have obtained export licences for gallium and germanium products. European prices of gallium metal surged by 68% from early July to $475 per kg on Oct. 18 and was up 23% from August, data from information provider Fastmarkets showed. ($1 = 7.3162 Chinese yuan)Reporting by Amy Lv and Dominique Patton in Beijing; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Li Yilan, Antaike, Amy Lv, Dominique Patton, Shounak Dasgupta Organizations: REUTERS, Rights, . Geological Survey, Shanghai Metals, Beijing, Commerce, Fastmarkets, Thomson Locations: China, Rights BEIJING, Beijing

German Chancellor Olaf Scholz's coalition unveiled in July a strategy toward de-risking Germany's economic relationship with China, calling Beijing a "partner, competitor and systemic rival". German investment in Asia excluding China is rising as a share of overall investment. "No company is going to say that it will leave China," said Sandra Ebner, senior economist at Union Investment, Germany's second-largest fund manager. "But what companies are increasingly doing is to produce in China for China and to position themselves around China for the remaining Asian or global market." In July, German Economy Minister Robert Habeck travelled to India with a delegation of executives to discuss opportunities for German companies.

Persons: Thomas Nuernberger, Nuernberger, Olaf Scholz's, Volker Treier, Munk, Ferdinand Munk, Scholz, Angela Merkel's, Martin Brudermueller, Max Zenglein, Juergen Matthes, Markus Horn, Matthias Bianchi, Joe Biden, Wolfgang Niedermark, Jan Roennfeld, Roennfeld, Sandra Ebner, BDI's Niedermark, Robert Habeck, Christoph Steitz, Sarah Marsh, Maria Martinez, Aditya Kalra, Sarita Chaganti Singh, Xinghui, Orathai, Brenda Goh Organizations: Reuters, Commerce and Industry, Volkswagen, Mercedes, Benz, BASF, IW Institute, Big, Mercator Institute for China Studies, Economic Institute, Horn, German Association of, Indonesian Chamber of Commerce, Union Investment, Thomson Locations: FRANKFURT, BERLIN, Berlin, Beijing, China, Taiwan, India, Asia, Germany, Europe, Vietnam, South Korea, Indonesia, South China, European, Thailand, United States, Mexico, Indonesian, Eastern Germany, Malaysia, Frankfurt, New Delhi, Xinghui Kok, Singapore, Bangkok, Shanghai

☆ U.S. chip export ban is 'great news,' says Chinese tech investor
▼ + stars: | 2023-10-18 | 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 EmailU.S. chip export ban is 'great news,' says Chinese tech investorChloe Wang, partner and VP at the YangCheng Fund, described the U.S. Department of Commerce export ban of Nvidia’s A800 and H800 chips to China as "great news," speaking at CNBC's East Tech West conference. YangCheng invests in semiconductors for sectors including artificial intelligence training and autonomous vehicles.

Persons: Chloe Wang, YangCheng Organizations: U.S, YangCheng, U.S . Department of Commerce, CNBC's East Tech West Locations: China

☆ Citi cuts Nvidia price target on U.S. chip export restrictions to China
▼ + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Citi maintained its buy rating on Nvidia but lowered its price target to $575 from $630. The bank's lowered outlook comes after the U.S. Department of Commerce announced new export restrictions Tuesday that would curb the sale of more advanced artificial intelligence chips to China. The move will restrict the export of Nvidia's A800 and H800 chips as the federal government attempts to further tighten last year's restrictions on AI chip exports. Malik lowered his full-year 2025 earnings per share by 0.3% to reflect lowered China exposure with Nvidia's GeForce RTX 4090 graphics cards. Morgan Stanley analyst Joseph Moore lowered his target by $30 to $600 on the back of the new export controls.

Persons: Atif Malik, Malik, Morgan Stanley, Joseph Moore, Moore, — CNBC's Michael Bloom Organizations: Citi, Nvidia, U.S . Department of Commerce, NVIDIA, federal, United Arab Locations: China, Saudi Arabia, United Arab Emirates, Vietnam

☆ Options for G7 discussion for a ban on Russian diamonds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +5 min

Enforcement would be government regulated through customs at a single point of entry for rough diamonds and several G7 entry points for polished stones. The proposal said a single entry point would be needed for rough diamonds without specifying where. Antwerp would be the favoured option for Belgium and the city also already handles most of the rough diamond trade. WORLD DIAMOND COUNCILThe World Diamond Council, which includes the world's largest rough diamond producer by value, De Beers, has proposed a version of the ban that is largely self-regulating. Any diamond sellers would then have to include with the stone they sell a declaration called the "G7 Diamond Protocol Declaration" that the diamond is not Russian.

Persons: De Beers, Sellers, De, WDC, Julia Payne, Jan Strupczewski, David Evans Organizations: Reuters, World Diamond Council, Belgian, Export Promotion Council, WORLD DIAMOND, Diamond Council, Russian, Thomson Locations: Ukraine, Belgium, India, France, BELGIUM, Antwerp, Russian, Botswana, INDIA, Surat, Mumbai, FRANCE

The original rules had sought to hamper China’s ability to procure advanced computing chips and manufacture advanced weapons systems. Not all chipsRaimondo, who visited China in August, said the administration was “laser-focused” on slowing the advancement of China’s military. Chips used in phones, video games and electric vehicles were purposefully carved out from the new rules, according to senior administration officials. In recent months, the United States has enlisted its allies in Europe and Asia in restricting sales of advanced chipmaking equipment to China. In July, Beijing hit back by imposing its own curbs on exports of germanium and gallium, two elements essential for making semiconductors.

Persons: Washington CNN —, Biden, Gina Raimondo, Raimondo, Mao Ning, chipmakers, “, ”, ASML Organizations: Washington CNN, US Commerce Department, Washington, Ministry, Biden, United States, Nvidia, Intel, AMD, United Arab, ” Nvidia, Semiconductor Industry Association, US Department of Commerce, Biren Technology, CNN Locations: China, Hong Kong, Washington, Macao, United States, Iran, Russia, Beijing, United, Europe, Asia, Saudi Arabia, United Arab Emirates, Vietnam, Dutch

☆ Putin meets 'dear friend' Xi in Beijing. Here are the top 3 takeaways
▼ + stars: | 2023-10-18 | by ( Clement Tan | ) www.cnbc.com time to read: +7 min

Sergei Savostyanov | Afp | Getty ImagesChina President Xi Jinping and his Russian counterpart Vladimir Putin were all smiles when they met in Beijing. "Dear friend, I am very glad to see you again," Putin said in a statement ahead of his bilateral meeting with Xi Wednesday. Xi is also looking to Putin as China seeks to reinvigorate its economic foreign policy program. watch nowPutin traveled to Beijing, knowing Xi would guarantee his safety. Here are the main takeaways from the meeting, which underline why China and Russia share strong ties.

Persons: Vladimir Putin, Xi Jinping, Sergei Savostyanov, Putin, Xi, AidData, Mary, Srettha Thavisin, Viktor Orban, Dmitry Peskov, Peskov, Wang Yi, Faisal bin Farhan Al Saud, Biden, it's, Peng Liyuan Organizations: Sputnik, Forum, Afp, Getty Images China, Initiative, Xi, College of William, Moscow, European Union, EU, Rosneft, Gazprom, Tass, Soviet Union, Hamas, U.S, United, of, U.S . Department of Commerce, Getty Locations: Beijing, Ukraine, China, Russia, Thailand, Hungary, Israel, Gaza, Iran, United Nations, Saudi Arabia, Europe, U.S

☆ U.S. Tightens China’s Access to Advanced Chips for Artificial Intelligence
▼ + stars: | 2023-10-17 | by ( Ana Swanson | More About Ana Swanson | ) www.nytimes.com time to read: +1 min

In a call with reporters on Monday, a senior administration official said that the United States had seen people try to work around the earlier rules, and that recent breakthroughs in generative A.I. had given regulators more insight into how the so-called large language models behind it were being developed and used. access to advanced semiconductors that could fuel breakthroughs in artificial intelligence and sophisticated computers that are critical to P.R.C. The Biden administration has been trying to counter China’s growing mastery of many cutting-edge technologies by pumping money into new chip factories in the United States. U.S. officials describe the strategy as protecting American technology with “a small yard and high fence.”

Persons: Gina M, Raimondo, “, it’s, Biden, China’s, Xi Jinping Locations: United States, People’s Republic of China, California, China, U.S

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