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☆ Taiwan welcomes large Czech delegation after Honduras shifts allegiance to China
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

The roughly 150-person Czech delegation arrived in Taipei on Saturday, led by the speaker of the lower chamber of the Czech parliament, Marketa Pekarova Adamova. "This visit of the delegation to Taiwan certainly represents that Taiwan is in a democratic alliance," she said. Pekarova Adamova, who is due to meet Taiwan President Tsai Ing-wen later on Monday, told the business forum that Taiwan was a crucial investment partner for her country. "Taiwan is not only an important economic partner but also a friendly and democratic partner and deserves our attention and support." Newly elected Czech president Petr Pavel drew a sharp rebuke from Beijing in January after taking a call from Tsai, a clear shift from his predecessor's attempts to win Chinese business.

BRASILIA, March 23 (Reuters) - Brazilian President Luiz Inacio Lula da Silva heads to China this weekend for a five-day visit to refresh relations with his country's largest export market and seek new Chinese investment in the Latin American country. "Brazil has to keep a flexible and pragmatic position in this dispute between China and the United States," said Senator Hamilton Mourao, who as Brazilian vice president met with Xi in Beijing in 2019. CHINESE INVESTMENTLula drew Brazil closer to China and traveled twice to Beijing during his two presidential terms from 2003 to 2010. Trade relations were not affected by the diplomatic storm, though Chinese investment stalled, due in part to the pandemic preventing China's executives from visiting Brazil. By 2021, investment by Chinese companies in Brazil recovered to the level of 2017, according to the China-Brazil Business Council, which forecasts steady growth in coming years.

☆ US-ASEAN Business Council 'biggest' mission to Vietnam joined by companies including Netflix and Boeing
▼ + stars: | 2023-03-21 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Senior executives from 52 US firms are taking part in the biggest business mission ever organized by the US-ASEAN Business Council, the trade lobby told CNN. The trip, held annually and currently led by former US Ambassador to Vietnam Ted Osius, began Tuesday and runs to Thursday. The council did not specify who was attending, but corporate heavyweights Boeing (BA) and Netflix (NFLX) confirmed they had joined the delegation. The discussions “will focus on Boeing’s growing partnership with Vietnam and ways to strengthen the country’s aviation and defense capabilities,” it added. Netflix’s streaming service is available to viewers in Vietnam, though it does not have a direct presence there.

Biden will be in the capital Ottawa on Thursday and Friday to address Parliament and meet with Prime Minister Justin Trudeau. Despite the unity over Ukraine, the U.S. is less happy with Canada over its defense spending, which has long failed to meet the 2% target of GDP set by NATO members. But Canada's defense spending is around 1.3% of GDP, well below the NATO target of 2%. David Cohen, the U.S. ambassador to Canada, told CTV that defense spending would be "a topic of ongoing conversation ... because we do need more dollars for defense." Trudeau is likely make a commitment of sorts on Haiti but less than Washington is pressing for, said a source briefed on the summit.

☆ SpaceX, Netflix, Boeing to join "biggest-ever" US business mission to Vietnam
▼ + stars: | 2023-03-17 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +3 min

HANOI, March 17 (Reuters) - SpaceX, Netflix and Boeing are among the companies joining the "biggest-ever" U.S. business mission to Vietnam next week to discuss investment and sales opportunities in the booming Southeast Asian nation, the organiser said. More than 50 companies, including defence, pharmaceutical and tech firms, will participate in the mission organised by the US-ASEAN Business Council, an industry body, according to a list seen by Reuters. "This is the biggest-ever mission in Vietnam," said Vu Tu Thanh, the US-ASEAN Business Council's representative in the country, noting that the body had been organising these events for three decades. The majority of the companies joining the business mission already have a business or manufacturing presence in Vietnam, including Apple (AAPL.O), Coca-Cola (KO.N) and PepsiCo (PEP.O), Thanh said, with some planning to expand it. Among them is SpaceX, which is looking to sell its satellite internet services to Vietnam and other countries in the region, Thanh said.

[1/4] China's newly-elected Premier Li Qiang takes an oath after being elected during the fourth plenary session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China on March 11, 2023. Previously the Communist Party chief in Shanghai, Li was confirmed as premier during the National People's Congress, charged with managing the world's second largest economy. "Officials know that Li Qiang is Xi Jinping's guy," he said. "He clearly thinks that Li Qiang is a very competent person and he has put him in this position because he trusts him and he expects a lot of him." American author Robert Lawrence Kuhn, who met Li and Xi together in 2005 and 2006, said the two shared an easy rapport.

☆ Falling Panama Canal traffic threatens local economy, execs warn
▼ + stars: | 2023-03-08 | by ( Milagro Vallecillos | ) www.reuters.com time to read: +2 min

[1/2] The first trial run with a Post-Panamax cargo ship in the new sets of locks on the Atlantic side of the Panama Canal, in Panama City, Panama June 9, 2016. REUTERS/Carlos JassoPANAMA CITY, March 8 (Reuters) - The amount of cargo passing through the Panama Canal is expected to shrink this fiscal year, the canal's top authority said on Wednesday, with experts warning lower volumes could hurt Panama's economy. The canal is losing out on traffic from ships that once carried fuel and gas from the U.S. to Asia, but now go to Europe and bypass the Panama Canal, Vasquez said at a conference. The number of tonnes passing through the canal reached 518 million in 2022 and 516 million in 2021, according to official data. Reporting by Milagro Vallecillos; Writing by Valentine Hilaire; Editing by Brendan O'Boyle and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Previously the Communist Party chief in Shanghai, Li is poised to be confirmed as premier on Saturday during the ongoing National People's Congress, charged with managing the world's second largest economy. Trey McArver, co-founder of consultancy Trivium China, said Li is likely to be much more powerful than his predecessor. "Officials know that Li Qiang is Xi Jinping's guy," he said. "He clearly thinks that Li Qiang is a very competent person and he has put him in this position because he trusts him and he expects a lot of him." American author Robert Lawrence Kuhn, who met Li and Xi together in 2005 and 2006, said the two shared an easy rapport.

☆ Who is Jared Bernstein, new chief White House economist?
▼ + stars: | 2023-02-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

Americans remain unimpressed by Biden's economic performance, with prices of many basic goods and mortgage rates high. Bernstein, who played the double bass in jazz bands and worked as a social worker in New York City, has long been a voice for progressive economic policy. He served in the Labor Department under former President Bill Clinton and then as Biden's chief economist when he was vice president. At the Economic Policy Institute, a Washington think tank, he wrote and testified to Congress extensively on the shrinking U.S. middle class, a bedrock Biden theme. U.S. business groups worry that Bernstein's labor ties and anti-free trade stance could hamper efforts to bolster trade ties with other countries.

☆ American small business pessimism on recession, inflation, isn't relenting
▼ + stars: | 2023-02-09 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +10 min

That's according to the CNBC|SurveyMonkey Small Business Survey for the first quarter of 2023. The Q1 survey was conducted from Jan. 23-Jan. 30 among over 2,300 small business owners across the country. "Small business owners have a more difficult time gaining benefits of economies of scale," said Holly Wade, executive director of the NFIB Research Center, whose own recent surveying of small business owners finds persistent pessimism. The new CNBC|SurveyMonkey data finds 75% of small business owners saying they are still facing rising costs of supplies and just over half (51%) supply chain disruptions. Politics is a factor in Main Street outlook Politics plays a role in any small business survey, with a demographic that skews conservative.

☆ Roger Ferguson: CEOs are less pessimistic but not optimistic about economy
▼ + stars: | 2023-02-09 | 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 EmailRoger Ferguson: CEOs are less pessimistic but not optimistic about economyRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to discuss the results from a CEO sentiment survey, where cost pressures are loosening and more.

☆ What the Federal Reserve's 25 basis point interest rate hike means for investors
▼ + stars: | 2023-02-02 | 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 EmailWhat the Federal Reserve's 25 basis point interest rate hike means for investorsRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to discuss his take on the message from the Federal Reserve, what investors may have braced for but didn't hear from Fed chair Powell and more.

☆ Roger Ferguson: Fed more likely to move at 25 bps for the next 2-3 meetings
▼ + stars: | 2023-01-30 | 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 EmailRoger Ferguson: Fed more likely to move at 25 bps for the next 2-3 meetingsRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to discuss his thoughts towards the economy, what the terminal federal funds rate may be, and more.

☆ U.S. Treasury's Yellen, China's Liu to meet in Zurich for first in-person talks
▼ + stars: | 2023-01-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

[1/2] U.S. Treasury Secretary Janet Yellen speaks during her interview with Reuters in New Delhi, India, November 11, 2022. A Chinese official said Liu and Yellen would also touch on the possibility of a world recession. The IMF has warned against decoupling the global economy into two competing blocs, saying it could reduce global economic output by up to 7% - and even more in vulnerable countries. Yellen has met virtually three times with Liu since taking office, and met in Bali, Indonesia, with Chinese central bank governor Yi Gang. Liu will step down this year as part of an overhaul of China's economic leadership disclosed in September.

☆ Bank of America CEO says capitalism needs cleaning up with new global ESG rules
▼ + stars: | 2023-01-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bank of America Chief Executive Brian Moynihan said Wednesday that current efforts to produce a set of official global standards on ESG issues were vital to "align capitalism with what society wants from it." He said it was now important to "go to the official side" and was supporting the new International Sustainability Standards Board set up by non-profit the IFRS. This is due to comprise a set of general non-financial sustainability disclosure requirements for companies, and a set specifically on climate. Moynihan also said it was crucial that sustainability and ethical standards became official and global. "Which, at the end of the day, will align capitalism with what society wants from it and get us going faster."

☆ India, U.S. establish new trade group to bolster supply chains
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Trade Representative Katherine Tai and India's Minister of Commerce and Industry, Piyush Goyal, poses for a picture before the start of their meeting in New Delhi, India, November 22, 2021. REUTERS/Adnan Abidi/PoolNEW DELHI, Jan 12 (Reuters) - India and the United States have established a new working group to build sustainable supply chains and boost bilateral trade, the governments said in a joint statement on Thursday. The United States will also consider India's interest in the restoration of beneficiary status under the U.S. generalized system of preferences program, the statement added. The Trade Policy Forum, revived in 2021 after a gap for four years, will reconvene on a ministerial level before end of 2023. The two countries said they mean to continue to work together on resolving outstanding trade issues.

☆ U.S. won't achieve objectives of Chips Act without Canada and Mexico: Business Council of Canada
▼ + stars: | 2023-01-11 | 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. won't achieve objectives of Chips Act without Canada and Mexico: Business Council of CanadaLouise Blais of the organization says those objectives won't be met if the United States doesn't have Canada and Mexico to supply it with rare minerals for semiconductors and batteries.

☆ Analysis: Democrats' downgrade of Iowa's role is a blow to Corn Belt, biofuels
▼ + stars: | 2023-01-05 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +5 min

Iowa's political importance created a cottage industry out of educating and supporting candidates on issues that corn farmers and ethanol manufacturers care about. "Forward looking, to get Democratic candidates exposed to farm issues and get these issues in front of them is going to be extremely challenging. “It’s a blow to the industry, in terms of educating and informing the Democratic candidates,” Link said. Link noted that many of the Democratic candidates vying for the nomination were often already serving as elected leaders in Washington or would later become vice presidents or cabinet secretaries. The Iowa caucuses helped developed empathy for rural issues that could later be tapped for legislative success.

From its original epicentre in the north, including the capital Beijing, COVID-19 infections are spreading throughout the country and cases are impeding workforces in manufacturing belts, including the Yangtze River Delta, near Shanghai. With mass testing halted after China abruptly dropped its zero-COVID policy this month, official data no longer reliably captures new case numbers. Some estimates, however, predict the wave currently sweeping the country could infect up to 60% of China's 1.4 billion-strong population. LOGISTICS LOGJAMLeading automobile chipmaker, Renesas Electronics Corp (6723.T) suspended production at its Beijing plant last Friday due to COVID-19 infections, but said it would re-open Tuesday. For now, however, that impact is being limited in part by economic hardships elsewhere in the world denting demand for products from China.

SYDNEY, Dec 19 (Reuters) - Australian Foreign Minister Penny Wong will visit China this week, Prime Minister Anthony Albanese said on Monday, signalling an improvement in diplomatic relations between Beijing and Canberra. Wong will meet Chinese Foreign Minister Wang Yi and hold the sixth Australia–China Foreign and Strategic Dialogue, coinciding with the 50th anniversary of diplomatic relations between the two countries on Wednesday. It will be the first visit to China by an Australian minister since 2019, and the first formal talks in Beijing between the two nations' top diplomats since 2018. The significance of it is that it's a meeting not in a conference, but a physical meeting in Beijing. read moreAustralian diplomats have previously said Canberra's moves to improve ties with Beijing would not bring a shift in defence policy.

☆ Exclusive: U.S. defence companies in talks to sell Vietnam helicopters, drones -sources
▼ + stars: | 2022-12-15 | by ( Francesco Guarascio | ) www.reuters.com time to read: +4 min

A source who was present at the weapons discussions said they involved the Ministry of Public Security and Ministry of National Defence. A second person familiar with the matter said talks on drones and helicopters began before the arms fair and have involved more weapons. The U.S. embassy in Hanoi declined to comment, but Ambassador Marc Knapper has said the U.S. stood ready to discuss any military item Vietnam might want to acquire. Sources and analysts said Vietnam is also considering deals with suppliers from Israel, India, and European and Northeast Asian countries. In the last decade, Israel has been the second-biggest seller of weapons to Vietnam after Russia.

☆ Exclusive: U.S. defence companies in talks to sell Vietnam helicopters, drones
▼ + stars: | 2022-12-15 | by ( Francesco Guarascio | ) www.reuters.com time to read: +4 min

HONG KONG/BEIJING, Dec 9 (Reuters) - Chinese regulators and state-owned banks are taking steps to split staff at their workplaces in Beijing, sources told Reuters, as businesses brace for a possible spike in COVID cases after China relaxed virus restrictions in a major policy shift. Other staff are required to work from home, they added. Among China's big four state-owned banks, Bank of China (BOC) (601988.SS) has released a notice to staff that it would split its Beijing workforce into three groups, working in the office on alternate weeks, said a person with direct knowledge. But the bank has yet to decide when to start such rotations, the person added. Other large state banks have also made similar arrangements - splitting up staff into rotating shifts while maintaining a maximum of 10%-20% of staff occupancy in their headquarters in Beijing, said two other people with knowledge of the matter.

☆ The Fed clearly thinks it still has work to do against inflation, says Roger Ferguson
▼ + stars: | 2022-12-05 | 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 EmailThe Fed clearly thinks it still has work to do against inflation, says Roger FergusonRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, and The Wall Street Journal's Greg Ip join CNBC's 'Squawk Box' to discuss the market's reaction to recent comments from Federal Reserve Chair Jerome Powell.

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