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Fuji and Tokyo skyline Jackyenjoyphotography | Moment | Getty ImagesJapan's Nikkei stock index has been on a record-breaking spree on the back of robust earnings and investor-friendly measures. But the country's ailing economy has experts divided over this sustainability of this rally. Japan's corporate governance reforms have been a key driver for the country's stock markets, Momma said, while stressing that stock indexes do not necessarily represent the entire economy that includes SMEs and households. SMEs are a critical lever in the Japanese economy, accounting for 70% of national employment and 50% of the country's economic growth. "Spillover from the global boom of AI-related stocks certainly helped Nikkei," Momma said.
Persons: Kazuo Momma, Momma, Sayuri Shirai, pare, Shirai, Phillip Colmar MRB Organizations: Nikkei, Mizuho Research, CNBC, Bank of Japan, Nvidia, Technology, Stock, Keio University, Bank of America, Phillip Colmar MRB Partners Locations: Fuji, Tokyo, Germany, Japan, U.S, China
China's Country Garden Holdings said Wednesday it received a liquidation petition filed by one of its creditors, deepening worries about the country's beleaguered property sector. Country Garden said it will oppose the petition "vigorously" and seek legal measures to do so. Country Garden said it intends to "proactively communicate" and work with its offshore creditors on its restructuring plan. China's property sector has historically been the bedrock of the country's economy, accounting for a large share of gross domestic product. Companies like Country Garden and Evergrande have struggled to repay their debt obligations and are now embroiled in drawn-out debt restructuring processes.
Persons: China Evergrande Organizations: Garden Holdings, Hong Kong, Monetary Fund, Companies Locations: Hong Kong, China
The US economy will see a surge in growth as more people start to take GLP-1 weight loss drugs. "The main reason we see economic upside from healthcare innovation is that poor health imposes significant economic costs," Goldman Sachs said. The more people that take GLP-1 weight loss drugs, the faster the US economy will grow, according to estimates from Goldman Sachs. The bank said in a note on Thursday that US GDP would grow by an extra 1% if 60 million Americans took GLP-1 drugs by 2028. There are several channels through which poor health weighs on economic activity that could diminish if health outcomes improve," Hatzius said.
Persons: Goldman Sachs, , Jan Hatzius, Hatzius, Eli Lilly, Goldman Organizations: Service, Goldman, Novo Nordisk
A trader works during the closing bell at the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. Global markets hit record highs this week as the frenzy around artificial intelligence boosted risk sentiment and hopes of a return to economic growth. But some investors have urged caution, suggesting that high tech valuations could put the rally at risk. European markets extended gains Friday after the Stoxx 600 index closed at an all-time high in the previous session. In Asia Pacific, Japan's Nikkei 225 closed at a new all-time high of 39,098.68 on Thursday, surpassing the previous record of 38,915.87 set in 1989.
Persons: Oliver Bäte, CNBC's, Germany's DAX Organizations: New York Stock Exchange, Wall, Global, Allianz, French CAC, Nikkei, U.S Locations: New York City, Europe, U.S, Asia
A wall is going up in the desert of Egypt near the border of the war-torn Gaza Strip, but no one is talking much about it. Image Construction of a wall along the Egyptian border with Rafah is seen in this satellite imagery. Credit... Maxar TechnologiesThe satellite imagery clearly shows newly graded land south of the Rafah border crossing. And many Palestinians suspect that Israel might not allow people who leave Gaza to come back when the war is over. One Gazan official in Rafah, Ahmed al-Soufi, estimated that there were over 100,000 displaced Palestinians in encampments pressed against the border.
Persons: Gazans, Ahmed al, Martin Griffiths, , Hisham el, Gen Mohamed Shousha, Ahmed Ezzat, Nick Cumming, Bruce, Adam Rasgon Organizations: The New York Times, Maxar, The Times, Egyptian Army, United Locations: Egypt, Gaza, Rafah, Israel, North Sinai —, North Sinai, Maj, Geneva, Jerusalem
The fortification by the border with Gaza is a “precautionary” measure ahead of an expected Israeli ground operation in Rafah, Egyptian security officials told CNN. Now, Egypt is sounding alarms again as Israel pushes more than a million Palestinians toward its territory and prepares for a military operation in Rafah. The treaty also limited the number of troops stationed on the border between Egypt and Gaza, which at the time was controlled by Israel. A satellite image from Maxar Technologies shows Rafah, Gaza, on February 3. After Israel withdrew from Gaza in 2005, it agreed with Egypt on a mechanism to secure the area with only Egyptian border patrol forces on the Egyptian side of the border.
Persons: Israel’s, Gazans, Kerem, Karm, Said Khatib, Bezalel Smotrich, , Emad Gad, , Winter, Abdel Fattah el, Sisi, Abed Zagout, Itamar Ben Gvir, Smotrich, Benjamin Netanyahu, Ahmed Abu Zeid, ” Abu Zeid, Ibraheem Abu Mustafa, Israel, it’s, Gad, ” Gad Organizations: CNN, Getty, Twitter, Israel, Associated Press, The New York Times, Ahram, Maxar Technologies, Maxar, Ahram Center for Political, Strategic Studies, Institute for National Security Studies, Department of, Islamic, Tel Aviv University, National, Finance, Foreign, Foreign Ministry, Alghad, Reuters, Egyptian, demilitarize, Al, News, Ahram Center Locations: Egypt, Gaza, Rafah, North Sinai, Israel, Karm Abu Salem, AFP, Cairo, Western, United States, Washington, Tel Aviv, Anadolu, Sinai, Israeli, Al
"We estimate that real house prices in China declined 16% from the peak in 2021Q3 to 2023Q3," Goldman analysts said. For context, US real house prices peaked in early 2006 and bottomed in 2012. Goldman's derived measure of China's real house prices has only dropped by half as much as the US saw during its six-year collapse, as the chart shows below. Goldman Sachs"[O]verly loose mortgage lending standards and too much mortgage debt, which were at the center of the US subprime crisis, do not apply in China," Goldman analysts said. Foreclosures soared as homeowners couldn't afford to pay off or refinance their mortgages, which lowered house prices further.
Persons: , Goldman Sachs, Goldman, Price Organizations: Service, International Monetary Fund, Business, Housing Locations: China, Beijing, 2021Q3
China's deflation problem keeps getting worse
  + stars: | 2024-02-08 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +3 min
In the latest sign of the country's worsening deflation problem, fresh data showed consumer prices in China tumbled in January at the sharpest rate in 14 years. AdvertisementOn an annualized month-over-month basis, consumer prices fell 4.3%, with particular weakness in food prices. Measured year-over-year for January:Pork prices fell 17.3%Vegetable prices fell 12.7%Fruit prices fell 9.1%The producer price index, too, dropped 2.5%, while service prices climbed at 0.5% on the year, half the rate seen in December. The more consumer prices fall, the more difficult it will be for Beijing to reverse. Foreign investors have already fled Chinese markets in droves over the last year, and ongoing deflation could spell trouble for earnings of Chinese companies.
Persons: , Goldman Sachs Organizations: Service, National Bureau, Statistics, Bloomberg, Institute of International Finance Locations: China, China's, Beijing
UNITED NATIONS (AP) — Russia accused the United States on Monday of aggression against Iraq and Syria aimed at preserving its global dominance and salvaging the Biden administration’s “image” ahead of U.S. elections. Many council members expressed fears of a growing Mideast conflict and urged de-escalation and stepped-up peace efforts. Wood stressed that the United States doesn’t want more conflict in a region where it is “actively working to contain and deescalate the conflict in Gaza." "And we are not seeking a direct conflict with Iran,” Wood said “But we will continue to defend our personnel against unacceptable attacks. Ambassador Zhang Jun, a Russian ally, echoed her concerns about escalating tensions and actions, and pointed a finger at the United States.
Persons: Russia’s U.N, Vassily Nebenzia, , Robert Wood, Wood, ” Wood, , Iran’s U.N, Amir Saeid Iravani, ” Iravani, ” U.N, Rosemary DiCarlo, Antonio Guterres, U.N, Zhang Jun, ” Zhang, Algeria’s U.N, Amar Bendjama, ” Bendjama Organizations: UNITED NATIONS, , Biden, Security, U.S, . Army Locations: — Russia, United States, Iraq, Syria, U.S, Iranian, Russia, Syria’s, Israel, Lebanon, Sea, Yemen, Syrian Arab Republic, Russian, Iran, Jordanian, Monday’s, Gaza
By Michelle NicholsUNITED NATIONS (Reuters) - Russia accused President Joe Biden on Monday of carrying out strikes in Iraq and Syria to boost his image as the presidential election campaign "is heating up" - not in retaliation for a deadly attack on U.S. soldiers. Ambassador Vassily Nebenzia, at a meeting of the Security Council on the strikes which was requested by Moscow, said there was no justification for the U.S. action. And we are not seeking a direct conflict with Iran. He added that the strikes in Syria and Iraq were a "separate and distinct" operation from U.S. and British strikes against the Iran-aligned Houthi group in Yemen in response to the Houthi targeting of shipping in the Red Sea. (Reporting by Michelle Nichols in New York, Lidia Kelly in Melbourne and Nandita Bose in Washington; Editing by Stephen Coates)
Persons: Michelle Nichols UNITED, Joe Biden, Washington, Russia's U.N, Vassily Nebenzia, Biden, Robert Wood, Wood, Iran's U.N, Amir Saeid Iravani, U.N, Michelle Nichols, Lidia Kelly, Nandita Bose, Stephen Coates Organizations: Michelle Nichols UNITED NATIONS, Reuters, United States, Revolutionary Guard, Security, U.S, Pentagon Locations: Russia, Iraq, Syria, U.S, Jordan, Moscow, America, Israel, Gaza, United States, Iran, Yemen, Red, New York, Melbourne, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharles Schwab's Liz Ann Sonders: We can't look at the market in a 'monolithic way' anymoreLiz Ann Sonders, Charles Schwab chief investment strategist, joins 'Money Movers' to discuss what explains the bond market's reaction to Friday's jobs report, what's happening with regional bank stocks, and any spillover to the big banks.
Persons: Charles Schwab's Liz Ann Sonders, Liz Ann Sonders, Charles Schwab
Dollar eyes monthly gain as markets look to Fed
  + stars: | 2024-01-31 | by ( ) www.cnbc.com   time to read: +2 min
A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. Later, the Federal Reserve is expected to hold U.S. interest rates steady but flag cuts are coming by dropping language indicating it is weighing further hikes. Interest rate futures price a roughly 43% chance of a Fed rate cut in March, down from 73% at the start of the year. "A 100% probability of a rate cut would point to euro/dollar at $1.1080, while a rate cut that is fully ruled out for March would point the way to euro/dollar at $1.0660," he said. Expectations of interest rate cuts in China have driven a strong rally in the bond market this month while the yuan has been squeezed by flight from China's crumbling equity markets.
Persons: Sterling, Alan Ruskin Organizations: Bank of Japan's, Federal Reserve, New Zealand Locations: U.S, Tokyo, Japan, Asia, China
China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. In other words, no massive credit event," Qazi told CNBC. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities.
Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong
China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities. Still, questions remain on whether China will recognize the Hong Kong court order for Evergrande's liquidation — since most of the company's assets are in the mainland.
Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu, we've, Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong, Commerzbank
The Red Sea crisis tests China’s global ambitions
  + stars: | 2024-01-30 | by ( Nectar Gan | ) edition.cnn.com   time to read: +10 min
China’s responseThe Houthi rebels in Yemen started firing missiles and drones at ships in the Red Sea in mid-November, in what they say is an act of solidarity with Palestinians. Chinese officials repeatedly stressed that the Red Sea crisis is a “spillover” from the conflict in Gaza, citing an immediate ceasefire between Israel and Hamas as the top priority. Beijing’s reluctance to wade into the Red Sea crisis reflects these geopolitical calculations. The Chinese government readout of the meeting between Wang and Sullivan did not mention the Red Sea. Egypt is losing millions of dollars per day from the reduced traffic at the Suez Canal at the northern end of the Red Sea.
Persons: Houthi, , , Mordechai Chaziza, Xi Jinping, Israel, ” Chaziza, Wang Yi, Jake Sullivan, Iran ”, we’re, Wang, Sullivan, Ebrahim Raisi, Yan Yan, OOCL, Kuehne + Nagel, Jonathan Fulton, “ can’t, ” Fulton, William Figueroa, Xi Organizations: Hong Kong CNN, Ashkelon Academic College, Beijing, Iran, People’s Liberation Army Navy, Britain, United Nations Security Council, Global, Western, Chinese Foreign, White House, Reuters, Chinese Foreign Ministry, China, Shanghai Shipping Exchange, Atlantic Council, University of Groningen, Xi’s Global Security Initiative, GSI, Hamas Locations: Hong Kong, Red, Israel, Ashkelon, United States, China, Europe, Yemen, Gulf, Aden, Djibouti, Beijing, Gaza, Bangkok, Iran, Tehran, Africa, Switzerland, Francisco, Shanghai, Abu Dhabi, Egypt, Suez, Sea, Saudi Arabia, Netherlands
The Palestinian Health Ministry said Israeli forces opened fire inside the wards of the Ibn Sina Hospital in the town of Jenin. Most were killed in confrontations with Israeli forces during arrest raids or violent protests. The Israeli military says it has arrested nearly 3,000 Palestinians in the West Bank over the past four months. The military said Tuesday that forces killed Mohammed Jalamneh, 27, who it said was planning an imminent attack. Hospital spokesperson Tawfiq al-Shobaki said there was no exchange of fire and the three were killed by Israeli forces in a targeted killing.
Persons: Ibn, Mohammed Jalamneh, Basel, Mohammed Ghazawi, Jalamneh, Tawfiq, Shobaki, , Basel Ghazawi, Israel, Osama Hamdan, Sheikh Mohammed bin Abdulrahman Al Thani, ___ Lidman Organizations: West Bank, , Palestinian Health Ministry, Ibn Sina, Muslim, Israel, Health Ministry, Hamas, United Nations, Basel, hemiplegia, Palestinian Authority, Gaza, Atlantic Council, Palestinian Locations: JENIN, West, Gaza, Jenin, Israel, Jerusalem, Egypt, Qatar, United States, Beirut, Washington, Gaza City, israel
New York CNN —McDonald’s new trendy beverage-led spinoff CosMc’s is pulling in younger customers at a faster clip than a typical Mickey D’s with Big Macs and fries, according to one early traffic estimate. McDonald’s unveiled its CosMc’s specialty drinks cafe spinoff in December, with the first location opened in Bolingbrook, Illinois. That first CosMc’s location saw more than double the number of visits that a typical McDonald’s saw chainwide in the same month, despite only being open since Dec.7, according to a report from Placer.ai, which uses location data from mobile devices to estimate visits to specific locations. CosMc’s generated triple the number of visits per square foot than an average McDonald’s restaurant (CosMc’s has a roughly 2,500 square feet footprint compared to 4,000 to 4,500 square feet for the average McDonald’s location), the firm said. RJ Hottovy, head of analytical research with Placer.ai, said that the one CosMc’s location sometimes has to accommodate spillover traffic in a separate parking lot because the drive-thru lanes were often at full capacity.
Persons: New York CNN —, D’s, Big, McDonald’s, it’s, It’s, RJ Hottovy, , ” McDonald’s, Danielle Wiener, Bronner Organizations: New, New York CNN, Starbucks Locations: New York, Bolingbrook , Illinois, Placer.ai, McDonald’s
The United States on Tuesday carried out military strikes against three facilities in western Iraq associated with Iran-linked militias that American officials say attacked a major base in Iraq on Saturday, according to the Pentagon’s Central Command, injuring at least four U.S. service members. “These precision strikes are in direct response to a series of escalatory attacks against U.S. and coalition personnel in Iraq and Syria by Iranian-sponsored militias,” Defense Secretary Lloyd J. Austin III said in a statement. The attack against Al Asad Air Base in Iraq on Saturday was the latest and the most serious of about 151 such rocket and missile strikes directed at U.S. troops based in Iraq and Syria since Israel’s war against Hamas in Gaza started. Al Asad Air Base, in Iraq’s western desert, is now primarily used by Iraqi forces but still has a U.S. contingent. At least 83 U.S. personnel have suffered injuries in the attacks by militias in Syria and Iraq, including traumatic brain injuries.
Persons: Lloyd J, Austin III, Biden, Austin, Biden “ Organizations: Pentagon’s, Command, Central Command, U.S, , Al Asad, Al Asad Air Base, Pentagon, Houthi Locations: States, Iraq, Iran, Iraq’s, Syria, Iranian, Al Asad Air, Gaza, United States, Britain, Yemen, Al, U.S, Kurdish Syrian, Islamic State
stressing that the war could end tomorrow if Moscow withdrew hundreds of thousands of troops in Ukraine’s internationally recognized territory. Russia called the council meeting to again sharply criticize Western military aid to Ukraine. Ambassador Sergiy Kyslytsya who read a joint statement underscoring Russia’s “hypocrisy” in criticizing lawful arms transfers to help Ukraine defend itself. But the Chinese ambassador criticized Ukraine for seeking to join NATO and warned Kyiv, without naming Russia, that this would deepen Moscow’s security concerns. “The negative impacts of the Ukraine crisis and the Palestinian-Israeli conflict have added snow to the icy cold global economy,” Zhang said.
Persons: , Sergey Lavrov, , Robert Wood, Lavrov's, Vladimir Putin, that's, ” Wood, Sergiy Kyslytsya, underscoring, Ukraine’s, , U.N, Zhang Jun, ” Zhang, Zhang, Lavrov, Wood, Malta's, Vanessa Frazier, ” Frazier Organizations: UNITED NATIONS, Kyiv, . Security Council, North Korea —, NATO, Russia, Palestinian Locations: United States, Moscow, China, Russia’s, Russia, Ukraine, Washington, London, Paris, Brussels, Ukraine’s, Iran, North Korea, Belarus, Israel, Gaza, Palestinian, U.S
France's Farmer Lobby Turns up Heat on Government Before Talks
  + stars: | 2024-01-22 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +3 min
Farmers cite a government tax on tractor fuel, cheap imports, water storage issues, price pressures from retailers and red tape among their grievances. France's largest farm union FNSEA has said it is considering nationwide protests in the coming weeks. Farming policy has always been a sensitive issue in France, the European Union's biggest agricultural producer, with thousands of independent producers of wine, meat and dairy. President Emmanuel Macron is wary of farmers' growing support for the far-right ahead of the European Parliament elections in June. Fearing a spillover from farmer protests in Germany, Poland and Romania, the government has withdrawn a draft farming law planned for debate this week and invited farming representatives for talks, starting on Monday afternoon.
Persons: Nicolas Delame PARIS, Arnaud Gaillot, I'd, FNSEA, Arnaud Rousseau, Emmanuel Macron, Gaillot, Rousseau, Gabriel Attal, Marc Fesneau, Fesneau, Nicolas Delam, Diana Mandia, Tassilo Hummel, Ros Russell Organizations: Young Farmers, France, Farmers, France Inter, Farming, Midi Libre Locations: Europe, France, Germany, Poland, Romania
The alleged strike targeted the Mazzeh neighborhood in Syria’s capital, home to several diplomatic missions including the Iranian embassy, according to Syrian authorities. The Islamic Revolutionary Guard Corps (IRGC) identified the four others killed as military advisors Ali Aghazadeh, Hossein Mohammadi, Saeed Karimi and Mohammad Amin Samadi. Their presence in Syria had been “at the official invitation of the Syrian government,” Iranian foreign ministry spokesperson, Nasser Kanaani, noted in a statement on social media. Louai Beshara/AFP/Getty ImagesRegional spillover fearsThe attack in Damascus comes amid concerns that Israel’s war with Hamas in Gaza is spiraling into a regional war. Iranian president Ebrahim Raisi on Saturday vowed to “punish” Israel for the Damascus missile strike.
Persons: Israel “, , Hojjatollah Omidvar, Iran’s, Ali Aghazadeh, Hossein Mohammadi, Saeed Karimi, Mohammad Amin Samadi, Nasser Kanaani, Louai Beshara, Tehran’s, Hossein Amir, Abdollahian, CNN’s Fareed Zakaria, Matt Miller, ” Miller, Ebrahim Raisi, ” Israel, , CNN’s Kareem Khadder Organizations: CNN, Hamas, Syrian Ministry of Defense, Israel Defense Forces, Network, Quds Force, Revolutionary Guards, Islamic Revolutionary Guard Corps, Security, Getty, Economic, Israel, Palestinian Ministry of Health, State Locations: Damascus, Syria’s, Iranian, Mazzeh, Syria, AFP, Gaza, Iraq, Tehran, Lebanon, Yemen, Red, Davos, Palestinian, Ramallah, The, Israel
China was due Wednesday to release GDP figures for 2023, and previously announced an official target of around 5% growth for the year. Despite significant growth in sectors such as tourism and electric cars, China's economy last year did not rebound from the pandemic as quickly as many banks had initially expected. watch nowThe International Monetary Fund in November also cited China's policy announcements as a reason for its decision to raise the 2023 growth forecast to 5.4%, from 5% previously. However, the IMF said it still expected China's growth to slow in 2024 to 4.6% "amid continuing weakness in the property market and subdued external demand." In the long term, analysts generally expect China's economy to slow further from a high base.
Persons: Pan Jianyong, Goldman Sachs, Morgan Stanley, Li Qiang, Haibin Zhu, Li Organizations: Co, Getty, Visual China, BEIJING —, Economic, Tuesday, UBS, Citi, JPMorgan, CNBC, China, China Economic, Monetary Fund Locations: MEISHAN, CHINA, Sichuan, Meishan, Sichuan Province, China, Davos, Beijing, decelerating
The crisis in the Red Sea threatens to damage the economy by increasing prices on consumers and delaying the shipment of goods. A Houthi official vowed on Wednesday that attacks on “Israeli-linked” vessels in the Red Sea as well as the Arabian Sea will continue. Ikea also does not foresee any product shortages from the Red Sea problems. “Shippers are now much better at using alternative ways of moving their goods around the world,” Zandi said. “We have not seen the situation in the Red Sea translate into material movements in prices in the US such as consumer goods and gasoline prices,” Schwartz said.
Persons: , Marcus Baker, Marsh McLennan, Baker, Vicent Clerc, ” Clerc, CNN’s Richard Quest, Mark Zandi, Zandi, Kristalina Georgieva, Quest, ” Zandi, Stephen Schwartz, ” Schwartz Organizations: CNN, US, US Central Command, Maersk, International Monetary Fund, Oxford University . Shipping, P, Moody’s, Global, IMF, Economic, Wednesday, Ikea, Wells, Wells Fargo Global Receivables, Trade Finance Locations: Israel, Marsh, Suez, Africa, China, Davos, Switzerland, , Asia, Europe, Germany, Wells Fargo, Iran
Qatar Pauses Red Sea Tankers After Western Strikes on Houthis
  + stars: | 2024-01-15 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +3 min
In the latest shift by a major firm, state-owned QatarEnergy has held at least four LNG tankers back from the Red Sea, a senior source said, adding that production continues. On Monday, carmaker Suzuki said production would halt at its Esztergom plant in Hungary from Jan. 15-21 as the Red Sea attacks had delayed the arrival of Japanese-made engines. U.S. ally Britain said it had no desire to be involved in a Red Sea conflict but was committed to protecting the right of free navigation. The Al Rekayyat, which was sailing back to Qatar, stopped along its route on Jan. 13 in the Red Sea. "It is a pause to get security advice, if passing (through the) Red Sea remains unsafe we will go via the Cape," the source told Reuters on Monday about QatarEnergy.
Persons: Andrew Mills, Maha, Maha El Dahan, QatarEnergy, carmaker Suzuki, Britain, Grant Shapps, Qatar's Al Ghariya, Al Huwaila, Al, Ras Laffan, Al Rekayyat, Maha El, Emily Chow, Sachin Ravikumar, Chandni Shah, Andrew Cawthorne, Catherine Evans Organizations: Houthi, Reuters, Qatari Locations: Maha El, Maha El Dahan DOHA, WASHINGTON, Yemen, Gaza, Saudi, Israel, The U.S, U.S, Esztergom, Hungary, Ras, Suez, Oman, Jan, Qatar, Red, Europe, Asia, Aden, Djibouti, Davos, Singapore, Doha, London, Bengaluru
BEIJING (Reuters) - China Foreign Minister Wang Yi said the war in Gaza continues to escalate and China is calling for a larger-scale, more authoritative and effective international peace conference and a concrete timetable to implement a two-state solution. Wang made the comments to reporters after talks with the Egyptian Foreign Minister Sameh Shoukry in Cairo, sharing his views on the Israel-Hamas war, according to a statement from the Chinese foreign ministry late on Sunday. Wang, China's top diplomat, is currently travelling through Egypt, Tunisia, Togo and the Ivory Coast until Thursday. Wang said the infrastructure of the Gaza Strip has been completely destroyed, with millions struggling to survive. He said China has decided to provide a third tranche of emergency humanitarian assistance.
Persons: Wang Yi, Wang, Sameh Shoukry, Ahmed Aboul Gheit, Bernard Orr, Sonali Paul, Michael Perry Organizations: China Foreign, Egyptian Foreign, League of, Xinhua, West Bank Locations: BEIJING, Gaza, China, Cairo, Israel, Egypt, Tunisia, Togo, Ivory Coast, League of Arab, East Jerusalem
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