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☆ Why India’s economy under Modi offers a real alternative to China
▼ + stars: | 2024-02-26 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

The market value of companies listed on India’s exchanges crossed $4 trillion in late November. But the country is stuck in recession and recently lost its position as the world’s third biggest economy to Germany. While interest in the world’s fifth largest economy is rising, the lofty prices of India’s stocks are scaring some international investors away. According to Macquarie, retail investors alone own 9% of India’s equity market value versus foreign investors at slightly under 20%. China “has a few too many companies which are $100 and $200 billion plus [in value],” Mittal said.

Persons: Peeyush Mittal, there’s, ”, Mittal, They’ve, Narendra Modi, Indranil Mukherjee, Jefferies, “, MSCI, Aditya Suresh, Modi’s, Modi, there’ll, ” Suresh, shoring, Hubert de Barochez, Elon Musk, India “, ” Musk, Suresh, Satish Babu, China “, ” Mittal, Priyanka Agnihotri, Nirmala Sitharaman Organizations: New, New Delhi CNN —, Matthews Asia, Getty, Macquarie Capital, Bharatiya Janata Party, Monetary Fund, Jefferies, Capital Economics, Apple, Foxconn, ”, Workers, Chennai Metro Rail, Advisory, Indian Locations: New Delhi, Jaipur, San Francisco, India, China, Shanghai, Shenzhen, Hong Kong, Japan, Germany, Beijing, Washington, “ India, Macquarie, Chennai, Baltimore

☆ China Foreign Minister Warns Against Decoupling at Munich Security Conference
▼ + stars: | 2024-02-17 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Chinese foreign minister Wang Yi warned the West that it would be making a historical mistake if it sought to decouple from China in the interests of reducing risk. "Whoever tries de-sinicization in the name of de-risking would be making a historical mistake," Wang said in a speech on Saturday at the Munich Security Conference. His comments came amid calls over the last year from the United States and the European Union to reduce their dependence on China. During a meeting with U.S. Secretary of State Antony Blinken at the conference on Friday, the Chinese foreign minister also stressed that "making 'de-risking' into 'de-China', and seeking 'decoupling from China'" will only backfire on the U.S. itself". Photos You Should See View All 33 ImagesThe plans highlight "de-risking", the EU's policy of reducing economic reliance on China, which the bloc regards with suspicion due to its close ties to Russia.

Persons: Wang Yi, Wang, Antony Blinken, Albee Zhang, Ryan Woo, Giles Elgood Organizations: Munich Security Conference, European Union, U.S, European Commission, China's Chamber, Commerce Locations: BEIJING, China, United States, de, U.S, Russia

☆ Indonesia election: Over 200 million will head to the polls across vast nation in world’s biggest election day
▼ + stars: | 2024-02-13 | by ( Kathleen Magramo | Heather Chen | ) edition.cnn.com time to read: +9 min

CNN —More than 200 million eligible voters will head to the polls in Indonesia on Wednesday, in what is billed as the world’s biggest single-day election. Mascots depicting presidential candidate and Indonesia's Defence Minister Prabowo Subianto (L) and vice presidential candidate Gibran Rakabuming Raka (R) in an election event on February 5, 2024. He has strong links with Islamic political groups, and his vice-presidential pick, Muhaimin Iskandar, is the leader of Indonesia’s largest Muslim political party, the National Awakening Party. A presidential candidate needs a simple majority of at least 50% of total votes and 20% of votes in more than half of the country’s 38 provinces to win. The use and abuse of AIWith more than 210 million Internet users, Indonesia boasts one of the world’s largest digital populations.

Persons: Suharto’s, Prabowo Subianto, he’s, Suharto, ” Kenneth Roth, Ganjar, Mahfud, Gibran Rakabuming Raka, Adek Berry, Anies Baswedan, Muhaimin Iskandar, Anies, –, Basuki Tjahaja, Joko Widodo, Jokowi, Prabowo, Gibran, Jokowi’s, ”, Adrian Vickers, Vickers, “, Yusof, Maria Monica Wihardja, ” Wihardja, Sayyidatiihayaa, Satya Bumi, ” Sayyidatiihayaa, Ulet Ifansasti Organizations: CNN, Human Rights Watch, Princeton University, Indonesian Democratic Party of, Indonesia's Defence, Getty, Former Jakarta, Islamic, National Awakening Party, University of Sydney, Prabowo, Lembaga, Transparency International, Indonesia Locations: Indonesia, United States, Central Java, Jakarta, Indonesia’s, AFP, Chinese, Indonesian, Ogan Ilir, South Sumatra, Nusantara, Borneo

☆ Brazil Prosecutors Push to Unwind $3 Billion Paper Deal Over Foreign Land Ownership
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Ana ManoSAO PAULO (Reuters) - Brazilian federal prosecutors are asking a judge to unwind a 2017 deal handing control of pulp and paper company Eldorado from Brazilian firm J&F to Paper Excellence Group, citing restrictions on foreign land ownership. In 2017, J&F Investimentos agreed to sell Eldorado Brasil Celulose to a unit of Paper Excellence at an enterprise value of 15 billion reais ($3.0 billion). Brazil imposed limitations on foreign land ownership in the early 1970s, but spotty public records have left uncertainty about how consistently those restrictions are enforced. In December, Brazil's rural land agency Incra issued a recommendation saying the deal would effectively give Paper Excellence control of 14,486 hectares of rural land owned by Eldorado. Paper Excellence said Incra's opinion was not legally binding, and a judge has not ruled on the prosecutors' motion.

Persons: Ana Mano, unwind, Investimentos, Jackson Widjaja, Incra, Eldorado, Iraja Abreu, Brad Haynes, David Ljunggren Organizations: Ana Mano SAO PAULO, Reuters, Eldorado, Excellence, Eldorado Brasil, Agrarian Reform Ministry Locations: Brazil, Canada, Europe, Latin America, United States, Eldorado ., Eldorado

Increasingly, voters are demanding that the men vying to succeed him address the tradeoffs between fast growth and a healthy environment in the world's fourth most populated country. In recent years, surging commodity prices have fueled fast economic growth and helped Indonesia become a middle-income country. That growth is expected to slow as the boom loses steam, according to a World Bank report. “That means, if the government forces its development, it will involve inefficient and unproductive allocation of resources.”Another campaign issue: food estate programs, massive plantations the government set up to fortify national food security. INDONESIA’S ENERGY TRANSITIONIn 2021, coal-rich Indonesia was the world’s ninth-largest source of carbon emissions that are causing global warming, according to a report by the International Energy Agency.

Persons: —, Joko Widodo, It's, Joko Widodo —, Prabowo Subianto, Josua Pardede, ”, Arianto Patunru, Baswedan, Bhima Yudhistira Adhinegara, El Organizations: Permata Bank, EV, Australian National University, of Economic, Law Studies, International Energy Agency, World Bank, Youth, Bank, El Nino, AP Locations: JAKARTA, Indonesia, Jakarta, Nusantara, Borneo, Anies, Central Java, Widodo, Washington, Kalimantan

☆ Philippines Ready to Use 'Forces' to Quell Any Secession Attempt Official
▼ + stars: | 2024-02-04 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

Duterte has called for the independence of his hometown Mindanao from the Philippines as his alliance with President Ferdinand Marcos Jr disintegrated this week over disagreements around efforts to amend the constitution. National security adviser Eduardo Ano said in a statement any attempt to secede "will be met by the government with resolute force", citing "recent calls to separate Mindanao" but without specifically naming Duterte. "The national government will not hesitate to use its authority and forces to quell and stop any and all attempts to dismember the Republic," Ano said. Ano said calls for secession could reverse the gains of government's peace deal with former separatist groups. Philippine armed forces chief Romeo Brawner told soldiers on Saturday "to remain united and loyal to the constitution and the chain of command".

Persons: Rodrigo Duterte, Ferdinand Marcos Jr, Marcos, Duterte, Eduardo Ano, Ano, Ahod Ebrahim, Carlito Galvez Jr, Romeo Brawner, Mikhail Flores, Miral Fahmy Organizations: Moro Islamic Liberation Locations: MANILA, Philippine, Mindanao, Philippines, Moro Islamic

Paying state salaries and pensions - this means compensation for teachers, doctors, nurses, civil servants and other public-sector employees. Ensuring smooth power and water supplies, and keeping other public services running. Bohdan Yeremenko, a Ukrainian lawmaker and former diplomat, told Ukrainian media on Thursday that he expected the government to use some of the funds to ease downward pressure on the hryvnia, saying it was important for macroeconomic stability. Safety net for foreign investments in Ukraine. Yevheniia Kravchuk, another deputy from Zelenskyy’s Servant of the People party, told the German broadcaster Deutsche Welle Friday that Kyiv will use some of the aid to provide insurance and stable financing for foreign investments, including plants that produce arms and ammunition.

Persons: Bohdan Yeremenko, Yevheniia Kravchuk Organizations: People, Deutsche Welle Locations: Ukrainian, Ukraine, German

☆ US compels Saudi fund to exit Altman-backed AI chip startup - Bloomberg News
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - The Biden administration has forced a Saudi Aramco venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI co-founder Sam Altman, Bloomberg News reported on Thursday. Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence (AI) algorithms, raised $25 million in 2022. The agency, the primary U.S. watchdog for deals with national security implications, instructed the Saudi fund to unwind that deal sometime over the past year, the report said. Altman and the U.S. Treasury, which oversees the Committee on Foreign Investment in the United States (CFIUS) process, did not immediately respond to a Reuters request for comment. The US has taken action that could block AI development in the Middle East.

Persons: Biden, OpenAI, Sam Altman, Altman, Aramco's, Harshita Mary Varghese, Chris Sanders, Arun Koyyur, Sherry Jacob, Phillips, Deepa Babington Organizations: Bloomberg, Foreign Investment, Saudi, U.S . Treasury, Department of Treasury, US, Nvidia, Devices, Thomson Locations: Saudi Aramco, United States, U.S

Parliament approved the higher tax rate as part of a global tax reform, and said the government would work on specific incentives in 2024. "The National Assembly is not issuing a separate resolution on investment incentives at this time," said Le Quang Manh, head of the assembly's financial commission. Vietnam's corporate income tax is already set at 20%, but it has offered for years much lower effective rates to large foreign investors. The Korean Chamber of Commerce in Vietnam said members were concerned about the new tax rate, but "none have expressed their intention to alter their investment in Vietnam". However, Thang Vu, a tax expert at consultancy Dezan Shira, said Vietnam could see a drop in foreign investment if it did not offer "adequate alternative economic benefits" to those affected by the new tax.

Persons: Le Quang, Thang, Dezan Shira, Khanh Vu, Francesco Guarascio, Miral Organizations: Samsung, Assembly, Korean Chamber of Commerce, Thomson Locations: Vietnam, Hanoi, HANOI, Korean

Now "it's like 'plus-10' and then China," he added, with the latter down to providing half of Industry West's products and being trimmed more. China recorded its first-ever quarterly deficit in foreign direct investment in July-September, suggesting capital outflow pressure. But for the first time in the four decades since China opened up to foreign investments, executives are now also concerned about long-term growth prospects. Primavera Capital founder Fred Hu cites mounting macroeconomic uncertainty, a "murky capital market outlook," and lingering concerns over past regulatory crackdowns on high-growth industries such as technology and education. Despite the challenges, foreign investment flows are not unidirectional.

Persons: Jordan England, Nicholas Lardy, England, I'm, Li Qiang's, Li, Michael Hart, Noah Fraser, Fred Hu, Hu, Joe Cash, Ellen Zhang, Kane Wu, Eduardo Baptista, Don Durfee, Kripa Jayaram, Marius Zaharia, Jamie Freed Organizations: China, Reuters, Peterson Institute for International Economics, LONG, Conference Board, China International, Canada China Business Council, Reuters Graphics, Primavera Capital, Tech, Thomson Locations: China, BEIJING, HONG KONG, Southeast Asia, Eastern Europe, Mexico, England, Florida, Washington, Beijing, consultancies, U.S, Asia, Australia, Europe, Hong Kong

☆ Turkey Raises Interest Rates to 40 Percent to Tame Runaway Inflation
▼ + stars: | 2023-11-24 | by ( Santul Nerkar | More About Santul Nerkar | ) www.nytimes.com time to read: +1 min

Turkey’s central bank has raised interest rates to 40 percent, its highest level in nearly two decades, in a significant move to tame the country’s runaway inflation after the country’s president, Recep Tayyip Erdogan, had previously defied economic convention by cutting rates to slow price increases. The increase of 5 percentage points on Thursday, which was larger than expected and the sixth consecutive increase by the bank, came as inflation in Turkey is running at 61.36 percent. That has sent the cost of basic household necessities soaring and sharply devalued the country’s currency, the lira. Under Mr. Erdogan, Turkey has struggled with persistently high inflation in recent years. As a result, Turkey’s gross domestic product, the primary measure of economic output, boomed to nearly more than $1 trillion, making it the world’s 19th-largest economy.

Persons: Recep Tayyip Erdogan, Erdogan Organizations: Mr Locations: Turkey

☆ Issues over TikTok still unresolved, US Treasury Secretary Yellen says
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

U.S. Treasury Secretary Janet Yellen attends a press conference after a meeting with Chinese Vice Premier He Lifeng, ahead of a U.S.-hosted APEC (Asia-Pacific Economic Cooperation) Summit in San Francisco, California, U.S., November 10, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsWASHINGTON, Nov 20 (Reuters) - The United States has concerns about issues over privacy and social media, and the matter involving TikTok is not yet resolved, U.S. Treasury Secretary Janet Yellen told CNBC in an interview on Monday. "We do have concerns around the potential issues with privacy and social media," she said, adding that she cannot discuss TikTok specifically. "This wasn't an explicit matter of discussion" between U.S. President Joe Biden and Chinese President Xi Jinping when they met last week, Yellen told CNBC. She said she discussed Chinese investments in the United States with her Chinese counterpart during their own meeting, including the process involving the Committee on Foreign Investment in the United States (CFIUS).

Persons: Janet Yellen, Lifeng, Carlos Barria, Yellen, Joe Biden, Xi Jinping, Doina Chiacu, Susan Heavey, Toby Chopra, Doina Organizations: Treasury, APEC, Economic Cooperation, REUTERS, Rights, United, CNBC, Foreign Investment, Department of Treasury, Thomson Locations: U.S, Asia, San Francisco , California, United States, Washington, Beijing

☆ Lagos positions itself as global financial center after historic appearance at London’s Lord Mayor’s Show
▼ + stars: | 2023-11-13 | by ( Stephanie Busari | Nimi Princewill | ) edition.cnn.com time to read: +4 min

Lagos, Nigeria CNN —Nigeria’s Lagos state marked a historic moment by making Africa’s inaugural appearance at the renowned Lord Mayor’s Show in London – an annual procession, steeped in 800 years of tradition, that celebrates the history and commerce of the city. Among the Lagos contingent were the traditional Eyo masquerades who take part in the famed Yoruba Eyo festival in the state. However, many backers believe that Lagos has the potential to evolve into a global financial hub capable of drawing substantial foreign investments into Nigeria. Aigboje Aig-Imoukhuede, co-chair of the newly inaugurated Lagos International Financial Centre Council (LIFC) told CNN Lagos was now ready to position itself with global players. “A low stable inflation rate automatically signals a stable currency … and that’s the job half done,” he told CNN.

Persons: Mayor’s, Lord Mayor’s Show, Lagos, ”, Babajide Sanwo, ” “ Organizations: Nigeria CNN —, CNN, Lagos State, ” “ Lagos isn’t, Aig, Lagos International Financial Centre Council, CNN Lagos, ”, of, US Department of Commerce, United Arab, Dubai’s Emirates, GSK, Imoukhuede, Nigerian Central Bank Locations: Lagos, Nigeria, London, ” Lagos, ” “ Lagos, West, ” Nigeria, of London, United Arab Emirates, British

WASHINGTON (AP) — President Joe Biden and China’s Xi Jinping have no shortage of difficult issues to discuss when they sit down for their first talks in a year, even if expectations are low that their meeting will lead to major breakthroughs. Beijing’s demands were made clear last November when Xi and Biden met in Bali, Indonesia, during the Group of 20 summit. That was a rejoinder to the Biden administration mantra that the two nations should compete vigorously while not looking for conflict. Beijing has bristled at export controls and other measures imposed by the Biden administration, perceiving them as designed to stifle China's economic growth. But Xi, this time, is likely to seek assurance from Biden that the U.S. will not pile new ones onto China.

Persons: Joe Biden, China’s Xi, what’s, Biden, Xi, Janet Yellen, “, ”, Nancy Pelosi, Newt Gingrich, Xie Feng, Wang Wenbin, Zhu Feng, Zhu, Kanis Leung, Ken Moritsugu, Yu Bing Organizations: WASHINGTON, Economic Cooperation, BIDEN, U.S ., U.S, American, School of International Studies of Nanjing University, Trump, Biden, ”, Associated Press Locations: Asia, Taiwan, East, Europe, U.S, China, Francisco, Beijing, United States, Taiwan . Washington, Iran, Tehran, Israel, American, Hong Kong, Bali , Indonesia, Bali, Washington, ” Beijing, San Francisco

☆ Microsoft exec says Israel's tech sector could suffer from war with Hamas
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +3 min

Israeli national flags flutter near office towers at a business park also housing high tech companies, at Ofer Park in Petah Tikva, Israel August 27, 2020. REUTERS/Ronen Zvulun/File Photo Acquire Licensing RightsJERUSALEM, Nov 1 (Reuters) - A senior Microsoft Israel official expressed concern for the future of Israel's high tech sector due to the country's war with Islamist group Hamas, warning multinational companies may close research and development activities. Tomer Simon, chief scientist at Microsoft Israel's R&D Center, said he expressed his concerns in a letter to Tzachi Hanegbi, Israel's head of the National Security Council, but never received a reply. "The country must create a positive horizon so that multinational companies continue to grow," Simon said, noting that for every tech job, there were five more created that drive Israel's economy. Simon did not cite figures but the government has estimated as much as 15% of tech workers were called to military service.

Persons: Ronen, Tomer Simon, Tzachi, Simon, Israel, Steven Scheer, Alison Williams Organizations: REUTERS, Rights, Microsoft Israel, Hamas, Microsoft, D Center, National Security Council, Thomson Locations: Petah Tikva, Israel

☆ Yandex takes step towards Russian approval for restructuring
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. REUTERS/Evgenia Novozhenina/File photo Acquire Licensing RightsMOSCOW, Oct 27 (Reuters) - Nasdaq-listed Russian tech company Yandex (YNDX.O) said on Friday it had obtained one of the approvals needed from the Russian government for its planned restructuring, which it hopes to complete by the end of 2023. Yandex, while reporting a 33% drop in third-quarter adjusted net income, said its board remained committed to completing the restructuring and divesting all Russia-based businesses. It said class A shareholders had now given consent for the merger of certain intermediate Dutch holding companies into Yandex NV. Yandex said it planned to take a restructuring proposal to shareholders for approval by the end of 2023.

Persons: Evgenia, Yandex, Alexander Marrow, Jason Neely, Mark Potter Organizations: REUTERS, Rights, Nasdaq, Yandex, Moscow, Reuters, Yandex NV, Thomson Locations: Moscow, Russia, Ukraine, nationalising, Washington

☆ Nigerian naira hits record black market low -abokiFx
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

ABUJA, Oct 26 (Reuters) - Nigeria's naira hit a record low of 1,300 per dollar on the black market on Thursday, online platform abokiFX showed, driven by thin trading volumes on the parallel market and dollar shortages on the official market. The naira has been in free fall on the unofficial market, where it trades freely, after currency restrictions were lifted on the official market. Last month, the currency slid past 1,000 naira per dollar on the black market and has continued to weaken. On the official market, the naira recovered to 775 to the dollar from a record low of 999 it touched last week. It kept losing ground, however, on the black market due to thin trading.

Persons: naira, Yemi Cardoso, Wale Edun, Chijioke, Tomasz Janowski Organizations: Finance, Thomson Locations: ABUJA, Nigeria

☆ Chinese attendance at Saudi conference doubles as Riyadh courts Beijing
▼ + stars: | 2023-10-19 | by ( Pesha Magid | ) www.reuters.com time to read: +2 min

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. REUTERS/ Ahmed Yosri/File Photo Acquire Licensing RightsRIYADH, Oct 19 (Reuters) - Around 300 Chinese "decision makers" are attending Saudi Arabia's flagship investment conference this year, organisers said on Thursday, double last year's attendance as Riyadh deepens its relationship with China despite U.S. concerns. In defiance of its key Western ally, Prince Mohammed invited Chinese President Xi Jinping to visit the kingdom and launched a Chinese-Arab summit. In August, the BRICs group of nations, which includes China, invited Saudi Arabia to become a new member of the bloc. Saudi Arabia is halfway through an ambitious economic transformation plan - Vision 2030 - to wean the economy off oil by creating new industries, generating jobs for citizens, and luring in foreign capital and talent.

Persons: Ahmed Yosri, Richard Attias, Attias, Prince Mohammed bin Salman, Joe Biden, Prince Mohammed, Xi Jinping, ” Attias, Morgan, Jamie Dimon, Citi's Jane Fraser, Yoon Suk Yeol, William Ruto, Paul Kagame, Pesha Magid, Aziz El Yaakoubi, Christina Fincher Organizations: Future Investment Initiative, REUTERS, Rights, Saudi, FII Institute, Wall Street, Washington, Wall, HSBC, Standard Chartered, Kenyan, Rwandan, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, China, Gaza, Asia

☆ With eye on China, EU maps out de-risking, economic security strategies
▼ + stars: | 2023-10-05 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +4 min

EU also relied on China during the COVID pandemic for protective equipment and now for medicines and pharmaceutical raw materials. ECONOMIC SECURITY STRATEGYA reassessment of risk due to rising geopolitical tensions is also a key part of the European Economic Security Strategy unveiled in June. The strategy focuses on risks to supply chain resilience, physical and cyber security of critical infrastructure, technology security and leakage and weaponisation of economic dependencies or economic coercion. However, while the economic strategy does not name China, it talks of partnering with link-minded countries and de-risking, its policy of reducing reliance on China. The Commission, which oversees EU trade policy, has said the strategy, including the assessments, will be carried out with EU governments.

Persons: Philip Blenkinsop, Nick Macfie Organizations: European Union, EU, European Economic Security, European Commission, Commission, The, Thomson Locations: BRUSSELS, China, Ukraine, U.S, Russia, EU, Moscow, Brussels

☆ Japan’s property sector sees ‘golden period’ as foreign investments surge 45%
▼ + stars: | 2023-10-04 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesForeign investments into Japan's real estate sector have been flourishing in the past year, buoyed by a weak Japanese yen as the country's central bank maintains its ultra-loose monetary policy. "It is a golden period of Japanese real estate," Henry Chin, head of Asia-Pacific research at CBRE, told CNBC. Foreign investors almost doubled their investment from a year ago to $2 billion in the first quarter of the year, the global real estate services company noted. According to latest data provided by CBRE, total foreign investments into Japan's real estate market has risen 45% in the first half of 2023, compared to the same period last year. The solid rebound in Japan's tourism sector following the ease in border restrictions has sparked a rise in hotel occupancies and hospitality investments, Knight Frank said in a recent September note.

Persons: Henry Chin, Chin, Koji Nato, JLL, Knight Frank, CBRE's Chin, Knight Frank's, Christine Li, David Madison Organizations: Bloomberg, Getty, CNBC, Nato LL's, Capital Markets, U.S, APAC Locations: Tokyo, Japan, Asia, Pacific, Osaka, Singapore, U.S, Canada, Magome

☆ European countries who put curbs on Huawei 5G equipment
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

The European Union's industry chief Thierry Breton in June urged more EU countries to join the efforts to curb or block Huawei and ZTE equipment from the bloc's 5G telecoms networks. FRANCEFrench authorities in 2020 told telecoms operators planning to buy Huawei 5G equipment that they would not be able to renew licences for the gear once they expire, effectively phasing Huawei out of mobile networks. ITALYWhile Italy has not outright banned Huawei equipment, it prevented telecoms group Fastweb in 2020 from signing a deal for Huawei to supply equipment for its 5G network. LATVIALatvia and the U.S. signed an agreement in 2020 on 5G security aimed at limiting the operations of Chinese companies. SWEDENSweden in 2020 banned telecoms equipment from Huawei and ZTE in its 5G network.

Persons: China's, Thierry Breton, Tristan Veyet, Antonis Pothitos, Laura Lenkiewicz, Milla Nissi, Jan Harvey Organizations: China's Huawei, Huawei, DENMARK Danish, FRANCE French, ZTE, U.S, LITHUANIA Lithuania's, Thomson Locations: Germany, European, BRITAIN Britain, ESTONIA, DENMARK, FRANCE, GERMANY, ITALY, Italy, LATVIA Latvia, LITHUANIA, PORTUGAL, ROMANIA, U.S, China, SWEDEN Sweden

☆ Thailand's new prime minister courts US companies for investment
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Thailand's Prime Minister Srettha Thavisin speaks during a press conference after a weekly cabinet meeting at the government house in Bangkok, Thailand, September 13, 2023. REUTERS/Athit Perawongmetha/File Photo Acquire Licensing RightsBANGKOK, Sept 22 (Reuters) - Thailand's new Prime Minister Srettha Thavisin met with U.S. companies including Microsoft (MSFT.O), Google (GOOGL.O), and Estee Lauder (EL.N) in his first trip abroad since coming to power last month, looking to draw investment to boost a flagging economy. The prime minister also held talks with banks. "To service foreign investments, we will need financial institutions ... Goldman Sachs (GS.N) said they will consider setting up an office in Thailand," Srettha said. In the first six months of 2023, investment pledges to Thailand rose 70%, driven by Chinese auto investors.

Persons: Srettha Thavisin, Athit, Estee Lauder, Srettha, I've, Tesla, Elon Musk, Goldman Sachs, Chayut Setboonsarng, Lincoln Organizations: Thailand's, REUTERS, Rights, U.S, Microsoft, Google, General Assembly, Thomson Locations: Bangkok, Thailand, Rights BANGKOK, New York

☆ Thailand's New Prime Minister Courts US Companies for Investment
▼ + stars: | 2023-09-21 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

BANGKOK (Reuters) - Thailand's new Prime Minister Srettha Thavisin met with U.S. companies including Microsoft, Google, and Estee Lauder in his first trip abroad since coming to power last month, looking to draw investment to boost a flagging economy. That is a challenge for Srettha, who is aiming to grow Southeast Asia's second-largest economy by 5% each year. The prime minister also held talks with banks. "To service foreign investments, we will need financial institutions ... Goldman Sachs said they will consider setting up an office in Thailand," Srettha said. In the first six months of 2023, investment pledges to Thailand rose 70%, driven by Chinese auto investors.

Persons: Srettha Thavisin, Estee Lauder, Srettha, I've, Elon Musk, Goldman Sachs, Chayut Setboonsarng, Lincoln Organizations: U.S, Microsoft, Google, General Assembly, Tesla Locations: BANGKOK, Thailand, New York

☆ State governors from Arizona, New Mexico seek stronger economic ties with Taiwan
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: +3 min

Katie Hobbs, Governor of the U.S. state of Arizona, speaks during the 2023 U.S. Business Day and Taiwan-U.S. Supply Chain Partnership Forum in Taipei, Taiwan September 19, 2023. Governors from the Southwestern United States are pursuing stronger business ties with Taiwan in hopes of attracting new foreign investments and jobs to their landlocked states. Michelle Lujan Grisham and Arizona counterpart Katie Hobbs, both Democrats, to the self-governing island of Taiwan. Hobbs said her goal was to encourage ongoing investments to make Arizona a hub for semiconductor manufacturing. She met Monday with Taiwan Semiconductor Manufacturing executives and suppliers, visiting their plant as well as water treatment facilities.

Persons: Katie Hobbs, Michelle Lujan Grisham, Hobbs, Joe Biden, Biden, Lujan Grisham, Cable –, Republican —, Gretchen Whitmer, Eric Holcomb Organizations: Business, U.S, Supply Chain Partnership, Governors, Southwestern, Trade, Gov, Taiwan Semiconductor Manufacturing, Democratic, Congress, Tuesday, America, General, — Democratic, Republican, Republican Indiana Gov, Solar Technologies, U.S . Department of Energy Locations: U.S ., Arizona, Taiwan, Taipei, Southwestern United States, New Mexico, U.S, Santa Teresa , New Mexico, Mexico, Beijing, Michigan, Japan, Singapore, Albuquerque , New Mexico, South Korea

SANTA FE, N.M. (AP) — Governors from the Southwestern United States are pursuing stronger business ties with Taiwan in hopes of attracting new foreign investments and jobs to their landlocked states. Michelle Lujan Grisham and Arizona counterpart Katie Hobbs, both Democrats, to the self-governing island of Taiwan. Hobbs said her goal was to encourage ongoing investments to make Arizona a hub for semiconductor manufacturing. She met Monday with Taiwan Semiconductor Manufacturing Co. executives and suppliers, visiting their plant as well as water treatment facilities. At a business conference in Taipei on Tuesday, Lujan Grisham urged entrepreneurs and leaders to consider investment opportunities in her home state, touting a workforce with access to subsidized child care and tuition-free college.

Persons: Michelle Lujan Grisham, Katie Hobbs, Hobbs, Joe Biden, Biden, Lujan Grisham, Cable –, Republican —, Gretchen Whitmer, Eric Holcomb, ___ Tang Organizations: SANTA FE, — Governors, Southwestern, Trade, Gov, Taiwan Semiconductor Manufacturing Co, Congress, Tuesday, U.S, America, General, — Democratic, Republican, Republican Indiana Gov, Solar Technologies, U.S . Department of Energy Locations: SANTA, Southwestern United States, Taiwan, New Mexico, Arizona, U.S, Taipei, Santa Teresa , New Mexico, Mexico, Beijing, Michigan, Japan, Singapore, Albuquerque , New Mexico, South Korea, Phoenix

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