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☆ Musk says his companies will remain well positioned in 2023
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Nov 11 (Reuters) - Elon Musk, who heads five companies including Tesla Inc (TSLA.O) and Twitter Inc, said in a tweet on Friday that his companies will be well positioned in 2023 despite the possibility of a tough economy. Twitter currently has $13 billion in debt and faces interest payments totaling close to $1.2 billion in the next 12 months. Meanwhile, electric carmaker Tesla added to its inventory in Shanghai, China, at its fastest pace ever in October. Musk told analysts last month that demand was strong in the quarter and he expected Tesla to be "recession-resilient". Musk is also the CEO of satellite internet company SpaceX, brain-chip startup Neuralink and tunneling enterprise The Boring Company.

☆ Tesla Shanghai adds to inventory at highest rate ever in October - brokerage data
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +3 min

That was the biggest gap between production and sales since Tesla opened its Shanghai Gigfactory in late 2019, CMBI data showed. Reuters GraphicsWhile Tesla's inventory numbers remain low relative to established automakers, building inventory has been a down-cycle indicator for the industry, forcing markdowns in past recessions of the kind Tesla has not yet faced. Tesla Chief Executive Elon Musk said last month China, Tesla’s second largest market, was in a “recession of sorts". Tesla cut prices for its Model 3 and Model Y cars in China last month to boost sales. Unlike traditional automakers, Tesla distributes through its own stores, rather than dealers, and so is left to hold and finance any inventory that has not been delivered to buyers.

☆ Factbox: Companies count the cost of ditching Russia
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +6 min

INDITEX (ITX.MC)Zara owner will book a provision of 216 million euros after agreeing to sell its Russia stores to UAE-based Daher Group. TRATON (8TRA.DE)Volkswagen's (VOWG_p.DE) truck division Traton in September said disposing of some assets in Russia would cause a 550 million euro loss. CREDIT AGRICOLE (CAGR.PA)Credit Agricole provisioned more than 500 million euros related to its Russian exposure in Q1. LINDEThe world's largest industrial gases company's exit from Russia recorded impairments of $993 million from its Russia exit. SIEMENS (SIEGn.DE)The Munich-based engineering and tech firm said in May it would take a 600 million euro hit in Q2 for exiting Russia.

☆ Tesla cuts China prices by up to 9% as analysts warn of 'price war'
▼ + stars: | 2022-10-24 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

FILE PHOTO: Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker's showroom in Beijing, China January 5, 2021. REUTERS/Tingshu Wang/File PhotoThe price cuts, posted in listings on the electric vehicle (EV) giant’s China website on Monday, are the first by Tesla in China in 2022, and come after Tesla began offering limited incentives to buyers who opted for its insurance last month. The price cuts also follows Tesla Chief Executive Elon Musk’s comment last week that “a recession of sorts” was under way in China and Europe, and Tesla said it would miss its vehicle delivery target this year. China Merchants Bank International (CMBI) said Tesla’s price cuts underlined the growing competitive risk for EV makers in China, with industry-wide sales projected to slow into 2023. “The price cuts underscore the possible price war which we have been emphasising since August,” said Shi Ji, an analyst with CMBI.

☆ Tesla slashes China prices by up to 9% as analysts warn of 'price war'
▼ + stars: | 2022-10-24 | by ( Reuters Staff | ) www.reuters.com time to read: +4 min

FILE PHOTO: Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker's showroom in Beijing, China January 5, 2021. China Merchants Bank International (CMBI) said Tesla’s price cuts underlined the growing competitive risk for EV makers in China, with industry-wide sales projected to slow into 2023. “The price cuts underscore the possible price war which we have been emphasising since August,” said Shi Ji, an analyst with CMBI. Analysts are warning of a growing car inventory glut for autos in China, where auto sales growth slowed in September while EV sales rose at their slowest pace in five months. But Tesla has also regularly adjusted prices of its cars in China, including reductions, reflecting government subsidies.

☆ Tesla shares fall further as it cuts price on cars in China
▼ + stars: | 2022-10-24 | by ( ) edition.cnn.com time to read: +3 min

The price cuts, posted in listings on the electric vehicle giant’s China website on Monday, are the first by Tesla in China in 2022, and come after Tesla began offering limited incentives to buyers who opted for Tesla’s insurance last month. Shares of Tesla (TSLA) fell nearly 4% in US premarket trading on the report about lower prices for its cars in China. The price cuts come after Tesla CEO Elon Musk said last week that “a recession of sorts” was under way in China and Europe and Tesla said it would miss its vehicle delivery target this year. “The price cuts underscore the possible price war which we have been emphasizing since August,” said Shi Ji, an analyst with CMBI. But Tesla has also regularly adjusted prices of its cars in China, including reductions, reflecting government subsidies.

☆ Enlisted Russian Raiffeisen Bank employee killed in Ukraine conflict - lawyer
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 21 (Reuters) - A Russian employee of Austria's Raiffeisen Bank International (RBI) (RBIV.VI) was killed after being mobilised to fight against Ukraine, despite his bank writing to the draft office seeking an exemption, his lawyer told Reuters on Friday. Izmailov had gone to his recruitment office on Sept. 23 intending to explain that he was entitled to deferment. Raiffeisen in Russia declined to comment and its head office in Austria, as well as the Russian Defence Ministry, did not immediately respond to inquiries. Raiffeisen has operated in Russia since the collapse of the Soviet Union 30 years ago and its business there - which is Russia's No. 10 bank by assets - contributed almost a third to group net profit of 1.5 billion euros ($1.5 billion) last year.

HONG KONG, Oct 20 (Reuters Breakingviews) - Automakers are hitting China’s growth limit. The industry achieved four consecutive months of double-digit growth in September when deliveries reached 2.3 million, 33% higher than a year earlier, per the China Association of Auto Manufacturers. Register now for FREE unlimited access to Reuters.com RegisterAs incentives expire, cars could follow a similar route to China’s commercial vehicles. Truck tales: A boom in China's sales of commercial vehicles proved to be short-livedBattery powered: China's strong EV sales mask slower deliveries of traditional motorsFollow @KatrinaHamlin on Twitter(The author is a Reuters Breakingviews columnist. CONTEXT NEWSChina's passenger car retail sales rose 33.2% in September from a year earlier to 2.3 million, according to data released by the China Association of Auto Manufacturers on Oct. 11.

☆ China auto market faces slowdown as inventory builds - CMBI
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

Automakers had delivered 1 million vehicles to dealers in China over the first nine months of this year, a record volume for the world's largest auto market, analysts at China Merchants Bank International (CMBI) said. Register now for FREE unlimited access to Reuters.com RegisterThe China Association of Automobile Manufactures reports overall vehicle sales. CMBI analysts used insurance registration data to track retail sales separate from wholesale deliveries to dealers. The diverging trend in deliveries to dealers and retail sales "makes us very concerned about automakers' wholesale volume in 2023," the CMBI report said. "We expect China's wholesale volume to fall in 2023, with more significant decline for internal-combustion engine (ICE) vehicles than this year."

☆ China auto sales growth slows in Sept as signs of softening demand emerge
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +3 min

China's overall auto sales growth also slowed compared to the previous two months, growing 25.7% in September to 2.61 million vehicles. The market is overall relatively weak," said Cui Dongshu, secretary general of the China Passenger Car Association (CPCA). CPCA, which focuses on retail sales of cars, said earlier on Tuesday that China's passenger car sales in September rose 21.2% from a year earlier to 1.95 million. CAAM, which tracks broader auto sales including passenger vehicles, buses and trucks, has said it hopes the government will extend those incentives next year. In September, China's vehicle exports increased 73.9% from a year ago, CAAM said and EVs accounted for one-sixth of them.

☆ Exclusive: Tesla to keep output at upgraded Shanghai plant below maximum -sources
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +3 min

Since the plant opened in its second largest market in late 2019, Tesla has sought to run the facility in China's commercial hub at full capacity, and recently upgraded its weekly output by 30%, to a maximum of 22,000 vehicles. Register now for FREE unlimited access to Reuters.com RegisterTesla did not immediately respond to a request for comment on Tuesday. The upgraded factory can produce 14,000 Model Ys and 8,000 Model 3s, the sources added. Now Tesla plans to turn out 20,500 units a week for the rest of the year, for a total of 13,000 Model Ys and 7,500 Model 3s, the sources said. Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020.

☆ EXCLUSIVE Tesla to keep output at upgraded Shanghai plant below maximum -sources
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. Since the plant opened in its second largest market in late 2019, Tesla has sought to run the facility in China's commercial hub at full capacity, and recently upgraded its weekly output by 30%, to a maximum of 22,000 vehicles. The upgraded factory can produce 14,000 Model Ys and 8,000 Model 3s, the sources added. Tesla has sought to keep it running at full capacity, except during the upgrade and a city-wide COVID-19 lockdown for two months this year. Now Tesla plans to turn out 20,500 units a week for the rest of the year, for a total of 13,000 Model Ys and 7,500 Model 3s, the sources said.

☆ Experţii UE au ajuns la un acord privind sancţiunile economice împotriva statului Belarus
▼ + stars: | 2021-06-19 | by ( ) www.jurnal.md time to read: +4 min

Sursa foto: EuronewsExperţii UE au ajuns la un acord privind sancţiunile economice împotriva statului BelarusExperţii Uniunii Europene au ajuns vineri la un acord privind sancţiunile economice împotriva statului Belarus, ca penalizare în urma obligării unui avion al Ryanair să aterizeze la Minsk pentru arestarea unui ziarist disident, au anunţat Ministerul austriac de Externe şi trei diplomaţi, transmite Reuters. Sancţiunile economice de amploare vor fi cea mai puternică reacţie a UE de până acum la aterizarea forţată a cursei Ryanair şi arestarea jurnalistului disident, numită de UE drept piraterie de stat. Creditele de export ale UE vor fi la rândul lor oprite. UE a impus deja trei runde de sancţiuni persoanelor fizice, inclusiv lui Lukaşenko, de anul trecut, îngheţându-le activele în UE şi interzicându-le călătoriile. Guvernele UE vor acum să lovească sectoarele care sunt esenţiale pentru economia din Belarus, pentru a impune pedepse reale lui Lukaşenko.

Persons: Alexandr Lukashenko, Lukaşenko, Luni Organizations: Europene, Reuters, UE, Raiffeisen, NATO Locations: Belarus, Minsk, UE, Austriei, Raiffeisen Bank International, Britanie, Canada, Statele Unite, Ryanair, Grecia, Lituania, Belarusului, Rusiei, Germania, Belarusul

☆ Президент Совета Moldindconbank – «Человек года 2020» в Молдове
▼ + stars: | 2021-05-26 | by ( ) newsmaker.md time to read: +1 min

Президент Совета Moldindconbank, Герберт Степич получил награду «Человек года 2020» в номинации «Успешные иностранцы в Молдове» по версии авторитетного журнала «VIP Magazin». В Совет Moldindconbank входят профессионалы с большим опытом работы в специализированных учреждениях Австрии, Болгарии, Греции, Великобритании, США и Республики Молдова. Председатель Совета Moldindconbank отвечал за международное расширение того, чем сегодня является Raiffeisen Bank International (RBI), где он занимал должность генерального директора до 2013 года. Герберт Степич получил множество наград, таких как: «Великая Золотая Награда за Честь и Заслуги перед Австрийской Республикой» в 2012 году; «WU-Manager of the Year 2005» от Венского университета экономики и бизнеса; «Trend Manager of the Year» 2005», «European Banker of the Year 2006» и «European Manager of the 2007». Герберт Степич получил от Венского университета экономики и бизнеса ученую степень доктора, он — вице-президент Международной торговой палаты Австрии.

Persons: Герберт Степич, Николай Бориссову, Николай Бориссов Organizations: Raiffeisen Bank, Совет, Председатель правление банка, Совет банка, Венский университет экономики и бизнеса, Международная торговая палата Locations: Молдова, Австрия, Болгария, Греция, Великобритания, США, Республика Молдова, Центральная, Восточная Европа

Distincția a fost oferită de către organizatori președintelui Comitetului de conducere al Băncii, Nikolay Borissov, care o va transmite beneficiarului. Consiliul Moldindconbank este format din specialiști de valoare, cu bogată experiență obținută la instituții de profil din Austria, Bulgaria, Grecia, Marea Britanie, SUA și Republica Moldova. Herbert Stepic este cunoscut în mediul bancar internațional ca promotor al investițiilor bancare occidentale în Europa Centrală și de Est. Președintele Consiliului Moldindconbank a fost responsabil pentru extinderea internațională a ceea ce este astăzi Raiffeisen Bank International (RBI), în care a deținut funcția de Director General până în 2013. Herbert Stepic deține și titlul de doctor în științe la Universitatea de Economie și Afaceri din Viena și este Vicepreședinte al Camerei Internaționale de Comerț din Austria.

Persons: Herbert Stepic Organizations: Raiffeisen, Universitatea de Economie Locations: Austria, Bulgaria, Grecia, Britanie, SUA, Republica Moldova, Europa Centrală, Est, Raiffeisen Bank International, Viena

☆ Moldova Agroindbank – distinsă cu Premiul pentru Excelență în Calitate STP de Raiffeisen Bank International
▼ + stars: | 2021-04-06 | by ( Onixmedia Srl | ) diez.md time to read: +1 min

Moldova Agroindbank – distinsă cu Premiul pentru Excelență în Calitate STP de Raiffeisen Bank InternationalÎn semn de apreciere pentru calitatea înaltă și rapiditatea procesării transferurilor internaționale, Raiffeisen Bank International a distins Moldova Agroindbank cu Premiul pentru Excelență în Calitate „Straight-Through Processing Quality Award” (STP). Premiul este oferit anual băncilor corespondente care au automatizat tranzacțiile de decontare internaționale, au asigurat soluții de procesare automată a transferurilor (STP) și au implementat standarde înalte de calitate în domeniul transferurilor SWIFT, crescând rapiditatea procesării plăților. „Aprecierea partenerului nostru Raiffeisen Bank International este o confirmare în plus a profesionalismului echipei MAIB. Banca depune eforturi constante de creștere a ratei de procesare automată a tranzacțiilor naționale și internaționale inițiate de clienții săi, facilitând procesul de transfer cap-coadă (Straight-Through Processing) și asigurând rapiditatea, acuratețea și accesibilitatea serviciilor acordate. Suntem recunoscători Raiffeisen Bank International pentru înalta apreciere și le mulțumim pentru parteneriatul durabil”, a menționat Vitalie Lungu, vicepreședinte al Comitetului de Conducere al MAIB.

Persons: SWIFT, Vitalie Lungu Organizations: Raiffeisen Bank Locations: Moldova, Raiffeisen Bank International

☆ Глава Национального банка Молдовы: болгарские акционеры Moldindconbank — надежные инвесторы
▼ + stars: | 2020-12-18 | by ( ) newsmaker.md time to read: +3 min

В этом году Национальный банк Молдовы при поддержке Международного валютного фонда успешно завершил программу прозрачности акционеров банков в нашей стране. Об этом рассказал президент Национального банка Молдовы Октавиан Армашу в интервью радио Europa Liberă. Глава Национального банка Молдовы также сообщил, что Международный валютный фонд подтвердил, что основные цели программы прозрачности акционеров молдавских банков успешно достигнуты. Среди них — председатель правления банка Герберт Степич, который был ответственным за международное расширение того, чем сегодня стал Raiffeisen Bank International (RBI). Она также занимала регулирующие и надзорные должности в Совете управляющих Национального банка Болгарии.

Persons: Moldindconbank, — Sopharma, Moldindconbank —, Октавиан Армашу, Армашу, Герберт Степич, Николай Борисов, Пенка Кратунова Organizations: Raiffeisen Bank, Национальный банк, Международный валютный фонд, Доверие, Болгарская фондовая биржа, НБМ, Совет управляющие Locations: Молдова, Болгария, София, Варшава, Польша, Центральная, Восточная Европа

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