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☆ Paraguay president backs Taiwan joining UN system
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] Paraguay's president Santiago Pena addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Eduardo Munoz Acquire Licensing RightsSept 19 (Reuters) - Paraguay supports Taiwan joining the United Nations system, the South American country's president, Santiago Pena, said on Tuesday, speaking at the U.N. General Assembly (UNGA). Due to a 1971 U.N. resolution, Taiwan has been excluded from the international body, which recognizes the People's Republic of China as the legitimate representative of China to the U.N."The government of Paraguay expresses its support for the Republic of China - Taiwan to be an integral part of the United Nations system," Pena said. Paraguay is the last South American country with formal relations with Taiwan, which China claims as its own territory. When asked about Taiwan last week, U.N. Deputy Secretary-General Amina Mohammed said exclusion of anyone can harm global goals.

Persons: Santiago Pena, Eduardo Munoz, Pena, U.N, Amina Mohammed, Kylie Madry, Sarah Morland Organizations: General Assembly, REUTERS, United Nations, American, Thomson Locations: New York City, U.S, Paraguay, Taiwan, People's Republic of China, China, Republic of China, American

☆ China's AI applications are coming — where it matters for monetization
▼ + stars: | 2023-09-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Around the same time, Tencent announced it is integrating its AI model into advertising content creation, and its own Zoom-like video conferencing app. It's also not clear how powerful China's AI applications currently are, beyond demos and select business partnerships. "Overall we see generally Chinese language model[s] still lag behind the most advanced ChatGPT version 4," CLSA's Tony Zhang said in a phone interview in the last week. Now with Beijing's green light, public-facing AI applications such as Baidu's Ernie bot can be widely used in China. Generative AI and large language model-related revenue contributed to 20% of SenseTime' s revenue in the first half of 2023, Nomura analysts said, citing company management.

Persons: Nomura, Tencent, Coffee, Luckin, Joey Wat, It's, Tony Zhang, –, Ernie, Oliver Wyman's David Xie Organizations: Baidu, KFC Locations: Beijing, China, Taobao, TikTok

☆ Coleman, Jackson upset world champions in Diamond League final
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +3 min

Athletics - Diamond League - Xiamen Diamond League - Egret Stadium, Xiamen, China - September 2, 2023 Christian Coleman of the U.S. celebrates after winning the men's 100m final REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 16 (Reuters) - American Christian Coleman stunned world champion Noah Lyles to win the men's 100 metres at the Diamond League final in Eugene, Oregon on Saturday as Jamaican Shericka Jackson took the women's sprint title. Coleman missed out on the podium at the World Championships in Budapest but broke the tape in a blistering 9.83 seconds as fellow American Lyles finished second in 9.85. Coleman, the 2018 Diamond League champion, exploded off the blocks and Lyles was unable to overcome a slower start. Jamaican Jackson finished second at the World Championships behind American Sha'Carri Richardson but took the lead in the last half of the women's 100 metres before breaking the tape in 10.70. World champion Warholm was strong favourite after claiming three Diamond League wins this year but Benjamin finished strongly to clock 46.39 seconds, the year's best time and fourth-fastest ever.

Persons: Christian Coleman, Aly, Noah Lyles, Shericka Jackson, Coleman, Lyles, Kenyan Ferdinand Omanyala, I’ll, Bolt, Jackson, Sha'Carri Richardson, Ivorian Marie, Josee Ta Lou, Elaine Thompson, Rai Benjamin, Karsten Warholm, Warholm, Benjamin, Kyron McMaster, Kipyegon, sparkled, Kirani James, Quincy, Amy Tennery, Ed Osmond Organizations: Diamond League, Xiamen Diamond League, Kenyan, Ivorian, British Virgin Islands, Quincy Hall of, United States, Thomson Locations: Xiamen, China, Eugene , Oregon, Budapest, British, New York

☆ Asia markets set for stronger open ahead of key data from China
▼ + stars: | 2023-09-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - JUNE 08: Aerial view of skyscrapers standing at the Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China. (Photo by Zhang Zhuoming/VCG via Getty Images) Vcg | Visual China Group | Getty ImagesAsia-Pacific markets are set to rise ahead of key economic data out of China, which could give clues on the trajectory of the world's second largest economy. China will release August data for its house prices, unemployment rate and retail sales, as well as urban investment. Futures for Hong Kong's Hang Seng index stood at 18,171, higher than the HSI's last close of 18,047.92. In Australia, futures for the S&P/ASX 200 also point to a higher open, at 7,283 compared to the last close of 7,186.5.

Persons: Zhang Zhuoming Organizations: Getty, Visual China, Nikkei Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Chicago, Osaka, Australia

☆ China cuts banks' reserve ratio to aid recovery
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: 1 min

BEIJING, CHINA - JUNE 13: A woman walks past the People's Bank of China (PBOC) building on June 13, 2023 in Beijing, China. China's central bank said on Thursday it would cut the amount of cash that banks must hold as reserves for the second time this year to help keep liquidity ample and support a nascent economic recovery. The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points from Sept. 15. The move came after the world's second-biggest economy has struggled after its post-pandemic recovery faltered. To support the economy, the government has rolled out a series of policy measures in recent months, including steps to spur housing demand.

Organizations: People's Bank of China Locations: BEIJING, CHINA, Beijing, China

☆ Apple cuts prices for iPhone 14 series in China -website
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: 1 min

A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - Apple (AAPL.O) has lowered the prices for its iPhone 14 series in China following the launch of the iPhone 15 lineup, according to its website on Wednesday. Prices for the 128 gigabyte version of iPhone 14 was cut by 600 yuan to 5,399 yuan ($740.50), while the iPhone 14 Plus is selling at 5,999 yuan, down from 6,999 yuan at launch, the website showed. ($1 = 7.2910 yuan)Reporting by Liz Lee and Ethan Wang;Our Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Liz Lee, Ethan Wang Organizations: Apple, REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING

U.S. Commerce Secretary Gina Raimondo's trip to China last month had promised some economic and trade detente between the two superpowers now at loggerheads. And none of the 222 funds polled expected China economic growth to be any higher next year than this - mirroring a recent Reuters survey of domestic and overseas banks and investors. As these sorts of surveys go, there's an awful lot in there that could spell "peak gloom". Indeed, shorting China equities was deemed the second "most crowded trade" behind long exposure to supercharged Big Tech stocks. Even if the economy turns, political catalysts for a return to China may be slow in coming.

Persons: Aly, Gina Raimondo's, it's, Jamie Dimon, Jay Clayton, Jenny Johnson, Franklin Templeton, Willem Sels, Mike Dolan, Sharon Singleton Organizations: REUTERS, . Commerce, Bank of, Big Tech, Reuters, Reuters Graphics Reuters, JPMorgan, Investments, The Ontario Teachers, Caisse, Franklin, HSBC Private Banking, Thomson Locations: Shanghai, Shenzhen, China, loggerheads, Wall, Asia, Silicon Valley, Hong Kong, Temasek, Bridgewater, Blackrock, India, Indonesia, Washington, United States

☆ How Luckin Coffee overtook Starbucks as the largest coffee chain in China
▼ + stars: | 2023-09-12 | by ( Sheila Chiang | ) www.cnbc.com time to read: +6 min

SHENZHEN, CHINA - 2020/10/05: Chinese coffee shop chain Luckin Coffee logo seen at a store. Founded in 2017, Luckin Coffee burst onto the Chinese coffee scene to challenge Starbucks through affordable coffee options and mobile ordering. China is Starbucks' second-largest market after the U.S. Luckin Coffee grew to 10,829 stores in China at the end of June, surpassing Starbucks as the largest coffee chain brand in the country following what one analyst calls an "aggressive" expansion. Meanwhile, Starbucks' stores worldwide are company-owned and the American coffee chain does not franchise operations, according to its website. The Chinese coffee chain said that it sold 5.42 million Moutai alcohol-infused lattes on the first day of its launch.

Persons: Alex Tai, Li, Rahul Maheshwari, Luckin, Vivian Leung, Zhang Peng, Price, it's, Jianggan Li, Leung, Kweichow Moutai, Moutai, Shawn Yang, Yang, latte Organizations: Getty, Starbucks, U.S, Luckin, Momentum, Coffee, CNBC, Lightrocket, Brand Finance, Blue Lotus Research Institute Locations: SHENZHEN, CHINA, China, Singapore, Guangzhou, TIANJIN, Asia, Beijing

☆ How Kim Jong Un’s meeting with Putin could shake up North Korea-Russia relations
▼ + stars: | 2023-09-12 | by ( Josh Smith | ) www.reuters.com time to read: +5 min

North Korean leader Kim Jong Un departs Pyongyang, North Korea, to visit Russia, September 10, 2023, in this image released by North Korea's Korean Central News Agency on September 12, 2023. “North Korea has basically been on its own, without any true allies,” said Artyom Lukin of Russia's Far Eastern Federal University. Early in his rule, Kim's relations with Beijing and Moscow were chilly, with both countries joining international sanctions against North Korea over its nuclear weapons and missile programs. The few reports in Chinese state media have referred only to official statements from Russia and North Korea on the meeting. "Trust is so low among Russia, North Korea, and China that a real alliance of the three isn’t credible or sustainable."

Persons: Kim Jong Un, Vladimir Putin, Kim Jong, Kim, Putin, Donald Trump, ”, Artyom Lukin, Russia's, Xi, John Delury, Kim Il Sung, Leif, Eric Easley, Easley, Josh Smith, Martin Quin Pollard, Gerry Doyle Organizations: North, Korean Central News Agency, KCNA, REUTERS, Rights, China -, Eastern Federal University, Studies, Yonsei University, Ewha University, Thomson Locations: Pyongyang, North Korea, Russia, Rights SEOUL, Moscow, Beijing, North Korea's, China, Ukraine, South Korea, Japan, China - U.S, Korea, United States, Russian, Vladivostok, Seoul

☆ Tesla shares soar 10% after Morgan Stanley upgrade
▼ + stars: | 2023-09-11 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

SHANGHAI, CHINA - SEPTEMBER 06: Aerial view of Tesla vehicles waiting to be loaded on board a roll-on-roll-off cargo vessel at Nangang port on September 6, 2023 in Shanghai, China. Morgan Stanley analysts argued that Tesla should be viewed as a tech company as much as an electric car maker. Morgan Stanley believes Dojo could theoretically add up to $500 billion to the company's value long-term. Tesla vehicles still only offer advanced driver assistance systems, which require a human behind the wheel, ready to steer or brake at any second. But after the Morgan Stanley note on Monday, Tesla shares spiked above $272 mid-day.

Persons: Tesla, Morgan Stanley, Elon Musk, Adam Jonas Organizations: Getty, Nvidia, Tesla, Tesla's Dojo, Dojo, Deutsche Bank Locations: SHANGHAI, CHINA, Shanghai, China, U.S

☆ US plans vast AI fleet to counter China - WSJ
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

Sept 6 (Reuters) - The U.S department of Defense is considering the development of a vast network of Artificial Intelligence-powered technology, drones and autonomous systems within the next two years to counter threats from China, the Wall Street Journal reported on Wednesday. In a speech on Wednesday the deputy secretary of defense, Kathleen Hicks will sketch out some of the air, land and sea capabilities that the Pentagon is looking to develop, the report added. The Pentagon plans to use artificial intelligence for autonomous systems to detect and engage enemy targets, and can include self-piloting air- and sea-based drones, according to the Journal. The department for defense did not immediately respond to a Reuters' request for comment. Reporting by Urvi Dugar in Bengaluru, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Kathleen Hicks, Urvi, Louise Heavens Organizations: Defense, Artificial Intelligence, Wall Street, Pentagon, Thomson Locations: U.S, China, Bengaluru

☆ Evergrande soars 70% leading Chinese property stocks higher after Country Garden avoids default
▼ + stars: | 2023-09-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

NANJING, CHINA - AUGUST 18, 2023 - Aerial photo shows a residential area of Evergrande in Nanjing, East China's Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Shares of Chinese property developer Evergrande as much as 82% on Wednesday, leading gains on the Hang Seng Index . The stock has since pared its gains, but was still about 70% higher. The real estate sector was the top gainer on the HSI, but the overall index was still in negative territory, dragged by health-care and industrial stocks. Other stocks like Country Garden Holdings and Logan Group also surged, gaining as much as 26% and 28% respectively, while the Hang Seng Mainland Property Index was up about 4%.

Organizations: Getty, Garden Holdings, Logan Group, Mainland Locations: NANJING, CHINA, Evergrande, Nanjing, East China's Jiangsu

☆ Pentagon plans vast AI fleet to counter China - WSJ
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

The Pentagon is seen from the air in Washington, U.S., March 3, 2022, more than a week after Russia invaded Ukraine. REUTERS/Joshua Roberts/File Photo Acquire Licensing RightsSept 6 (Reuters) - The Pentagon is considering the development of a vast network of Artificial Intelligence-powered technology, drones and autonomous systems within the next two years to counter threats from China, the Wall Street Journal reported on Wednesday. Reporting by Urvi Dugar in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Joshua Roberts, Urvi Organizations: Pentagon, REUTERS, Artificial Intelligence, Wall Street, Thomson Locations: Washington , U.S, Russia, Ukraine, China, Bengaluru

☆ China's Leapmotor looks to sell EV tech as it targets export growth
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +3 min

"For us, to survive, we have to achieve at least 500,000 to 1 million units of annual sales globally. The top 10 automakers in the world all have annual sales of more than 4 million units. Leapmotor had sales of almost 111,000 EVs in China in 2022, up from just over 44,000 in 2021. With European automakers scrambling to take a larger share of an EV boom in China that has largely left them behind, several have been looking at or licensing EV technology developed in China. Reporting by Zhang Yan in Munich, writing by Kevin Krolicki; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhu Jiangming, Leonhard Simon, Leapmotor, ” Zhu, Xpeng, Zhu, Zhang Yan, Kevin Krolicki, Hugh Lawson Organizations: REUTERS, Rights, HK, Reuters, Volkswagen, Toyota, Audi, SAIC Motor Corp, VW, Thomson Locations: Munich, Germany, China, Europe, Australia, New Zealand

☆ Coleman roars to Xiamen 100m title as Diamond League returns to China
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +2 min

Athletics - Diamond League - Xiamen Diamond League - Egret Stadium, Xiamen, China - September 2, 2023 Christian Coleman of the U.S. celebrates after winning the men's 100m final REUTERS/Aly Song Acquire Licensing RightsXIAMEN, China, Sept 2 (Reuters) - American Christian Coleman powered to victory in the men's 100 metres race at the Xiamen Diamond League as the premier one-day series returned to China for the first time in four years on Saturday after COVID disruptions. Coleman crossed the line in a joint world leading time of 9.83 seconds to draw huge roars at the Egret Stadium in Xiamen, which replaced Shenzhen and will continue to host one of two Diamond League meetings in the Asian nation until 2032. American 2022 world champion Fred Kerley, who failed to qualify for the final at the Budapest world championships last month, took bronze in 9.96 seconds. Italian Lamont Marcell Jacobs has barely raced since his Tokyo Olympics victory and finished a disappointing seventh. The Diamond League heads to Brussels on Sept. 8 before the season concludes in Eugene on Sept. 16-17.

Persons: Christian Coleman, Aly, Coleman, Kishane Thompson, Fred Kerley, Lamont Marcell Jacobs, Kirani James, James, Jamaica's Rusheen McDonald, Beatrice Chebet, Mexico's Laura Galvan, Kenyan Margaret Akidor, Shrivathsa Sridhar, Helen Popper Our Organizations: Diamond League, Xiamen Diamond League, Rights, Tokyo Olympics, Quincy Hall, Kenyan, Thomson Locations: Xiamen, China, Rights XIAMEN, Shenzhen, Budapest, Tokyo, Brussels, Eugene, Bengaluru

☆ Morning Bid: Asia kicks off September with eyes on Beijing
▼ + stars: | 2023-08-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

An employee works on the production line at Jingjin filter press factory in Dezhou, Shandong province, China August 25, 2022. REUTERS/Siyi Liu/File Photo Acquire Licensing RightsSept 1 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Recent policy decisions and other steps taken by Beijing and Chinese firms to jump start investor sentiment and support local markets has had an effect. Chinese stocks this week posted back-to-back gains of 1% or more for the first time since January. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Siyi Liu, Stephen Culp, Josie Kao Organizations: REUTERS, PMI, Thomson, Reuters Locations: Dezhou, Shandong province, China, Shanghai, Beijing, South Korea, Australia

☆ Republicans Agree on Foreign Policy — When It Comes to China - The New York Times
▼ + stars: | 2023-08-31 | by ( Peter Beinart | ) www.nytimes.com time to read: +3 min

Understanding why Republicans prioritized China then helps explain why they’re prioritizing it now. Many of America’s most influential Asia Firsters — like the Time magazine publisher Henry Luce — were either the children of American missionaries in China or had served as missionaries there themselves. The John Birch Society, whose fervent and conspiratorial brand of anti-Communism foreshadowed the right-wing populism of today, took its name from an Army captain and former missionary killed by Chinese communists at the end of World War II. It boasts much of the world’s economic, political and military power, which is why the Biden administration focuses on the region, too. In March, a Gallup poll found that while Democrats were 23 points more likely to consider Russia a greater enemy than China, Republicans were a whopping 64 points more likely to say the reverse.

Persons: Robert Taft, “ Mr, H, Alexander Smith, Truman, William Knowland, Joyce Mao, Chiang Kai, shek, Asia Firsters, Henry Luce —, John Birch, Biden, Mao, fixate, Vladimir Putin, Xi Jinping Organizations: Republican, NATO, Foreign Policy, Armed Services Committee, Nationalist, Republicans, Communist, Time, John, John Birch Society, Army, Gallup Locations: Europe, Formosa, ”, Taiwan, China, Asia, United States, Pacific, Washington, Beijing, Russia

☆ How China became the king of new nuclear power, and how the U.S. is trying to stage a comeback
▼ + stars: | 2023-08-30 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

That is two and a half times more nuclear reactors under construction than any other country. China was just getting started as the United States nuclear industry began to take a back seat. Power follows demand, so the new nuclear reactors tend to be built where fast-developing economies need power to fuel their growth. For the United States to win the export business, it must prove it can put steel in the ground in the United States. "We and our close nuclear energy allies are at what I think is just the start of a fierce competition for supremacy in global nuclear energy export markets," Kotek said.

Persons: Jacopo Buongiorno, Kenneth Luongo, Luongo, John F, Kotek, they've, Buongiorno, Westinghouse, Trump, Biden Organizations: Plant, China National Nuclear Corporation, China Huaneng, Changjiang, China News Service, Getty, International Atomic Energy Agency, United, Massachusetts Institute of Technology, CNBC, Partnership for Global Security, World Nuclear Association, Chicago Tribune, Tribune, Service, IAEA, Organization for Economic Cooperation, Development, OECD, U.S . Energy Information Administration, Nuclear Energy Institute, International Energy Agency, France, Visual China, Georgia Power, Westinghouse Locations: China, Changjiang Li Autonomous County, Hainan Province, India, Turkey, United States, Georgia, Byron , Illinois, France, Russia, HUIZHOU, CHINA, Huizhou, Guangdong Province of China, Europe, Eastern Europe, U.S

☆ Evergrande shares plunge as much as 87% as trading resumes after 17 months
▼ + stars: | 2023-08-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

NANJING, CHINA - AUGUST 18, 2023 - Aerial photo shows a residential area of Evergrande in Nanjing, East China's Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Shares of the world's most indebted property developer China Evergrande Group plunged as much as 87% on its open on Monday, trading for the first time since March 21, 2022. Shares fell to as low as 22 Hong Kong cents on Monday, compared to its last close at 1.65 Hong Kong dollars per share on March 18, 2022. The resumption of trade comes as the company posted a loss of 39.25 billion yuan ($5.38 billion) for the six months ended June, a smaller loss compared to the 86.17 billion yuan loss the same period a year ago. Revenue came in at 128.81 billion yuan, rising from 89.28 billion yuan in June 2022.

Organizations: Getty, China Evergrande, Hong, Hong Kong Locations: NANJING, CHINA, Evergrande, Nanjing, East China's Jiangsu, Hong Kong

☆ Explainer: Japan's moon landing: When is it and why is it important?
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +4 min

Japan aims to launch the Smart Lander for Investigating Moon (SLIM) into space by mid-September with a lunar landing seen starting as early as January 2024. Japan would become the fifth country to achieve a moon landing after the United States, the former USSR, China and now India. The success of India's Chandrayaan-3 moon exploration mission this month contrasts with recent setbacks in Japan's space missions. WHAT IS JAPAN'S LUNAR MISSION? WHY IS JAPAN'S SPACE PROGRAMME IMPORTANT?

Persons: India's, SLIM, Kantaro Komiya, Maki Shiraki, David Dolan, Nick Macfie Organizations: Smart, Japan Aerospace Exploration Agency, JAXA, Soviet Union, Epsilon, Mitsubishi Heavy Industries, Thomson Locations: TOKYO, Japan, United States, USSR, China, India, U.S, Russia

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 28 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. As the week gets underway, asset markets across Asia yet again will be dominated by key economic indicators, market- and growth-supportive policy steps and diplomatic signals from China. The Asian market headwinds are strong and clear - financial conditions are tightening sharply, in large part due to the steady rise in U.S. Treasury yields. According to Goldman Sachs's financial conditions indexes, global, emerging market and Chinese financial conditions last week hit their tightest levels this year.

Persons: Aly, Jamie McGeever, Jackson, Jerome Powell, Christine Lagarde, Kazuo Ueda, Gina Raimondo, Goldman, Fed's MIchael Barr, Diane Craft Organizations: REUTERS, China Securities Regulatory Commission, . Commerce, Treasury, Higher, Thomson, Reuters Locations: Shanghai, Shenzhen, China, Asia, India, Indonesia, Vietnam, Beijing, Japan, U.S, Australia

Some investors and economic analysts are sceptical that expansion will lead to increased foreign direct investment (FDI) within the bloc. Still, BRICS leaders and other investors touted the increased economic heft from the expansion. Increasing use of national currencies to reduce U.S. dollar dependence was another goal BRICS leaders discussed at the summit in Johannesburg. And with oil producer heavyweights among the newcomers, investors said this would feed speculation that Saudi Arabia might increasingly switch to non-dollar-denominated currencies for oil trade. "The short-term consequences could be seen in oil," said Kaan Nazli, a portfolio manager at asset manager Neuberger Berman in London.

Persons: Brazil Luiz Inacio Lula da Silva, China Xi, Cyril Ramaphosa, India Narendra Modi, Sergei Lavrov, Viktor Szabo, Li Kexin, Ola El, Chris Turner, Jakob Ekholdt Christensen, Hasnain Malik, abrdn's Szabo, Kaan Nazli, Neuberger Berman, Rachel Savage, Karin Strohecker, Bansari Mayur, Marc Jones, Jorgelina, Emelia Sithole Organizations: Russia's, Iran, United Arab Emirates, abrdn, Emerging Markets, ING, Reuters Graphics, China, International Monetary Fund, Thomson Locations: China, India, Sandton, Saudi Arabia, UAE, Iran, JOHANNESBURG, LONDON, Argentina, Brazil, Russia, South Africa, Ethiopia, Egypt, Johannesburg, United States, Saudi, London, Van Eck, New York, Copenhagen, Dubai, Bangalore, Rosario

☆ Boeing prepares 737 MAX deliveries to China - Bloomberg News
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-A Boeing 737 MAX-10 performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsAug 25 (Reuters) - Boeing Co (BA.N) is preparing to restart deliveries of its 737 MAX jets to China after a four-year halt, Bloomberg News reported on Friday, citing people familiar with the matter. "For (737 MAX) deliveries, we will be ready to deliver for our customers when that time comes," Boeing said in a statement. China was the first country to ground Boeing's 737 MAX following fatal accidents, though about 90% of the jets resumed commercial operation in the country in June. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Nathan Gomes, Krishna Chandra Organizations: Boeing, Paris, REUTERS, Boeing Co, Bloomberg, Thomson Locations: Le Bourget, Paris, France, China, Bengaluru

☆ China's deflation could spill over into a global concern, economists say
▼ + stars: | 2023-08-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

SHENZHEN, CHINA - MARCH 09: View of high commercial and residential buildings on March 9, 2016 in Shenzhen, China. "As a result, Chinese economic weakness and falling prices (especially Chinese producer prices) are likely to spill over into global markets — near-term good news for the Western central banks' fight against elevated inflation." "China's disappointing rebound is now feeding negatively into global sentiment and growth. Beyond the trade-related spillovers, a common global disinflationary pressure comes from commodity prices, where as a huge importer of commodities, Chinese domestic demand remains a key factor. "Weak Chinese domestic investment and broad-based excess capacity in manufacturing, as well as weak sales of new homes and land, are likely to continue to depress global commodity demand," Wilding and Liao said.

Persons: Zhong Zhi, Tiffany Wilding, Wilding, Carol Liao, Montgomery Koning, Liao, TS Lombard's Montgomery Koning Organizations: Getty, National Bureau, Statistics, Evergrande, TS Lombard, Lombard, U.S, Census, TS Lombard's Locations: SHENZHEN, CHINA, Shenzhen, China, U.S, Beijing, West, Germany

Office workers look at their mobile phones to check the local online banking app Toss as they gather at Seoul Museum of Art during a lunch break in Seoul, South Korea, April 13, 2023. Interest rate decisions and policy guidance from South Korea and Indonesia take center stage in Asia on Thursday, as investors also navigate the strong cross currents from global equity and bond markets the day before. On the Asian policy front, the Bank of Korea is expected to leave its key policy rate unchanged at 3.50% for a fifth consecutive meeting on Thursday and hold it steady for the rest of this year. Bank Indonesia is also expected to keep its key interest rate steady, at 5.75% for the seventh consecutive meeting and for the rest of the year too. Here are key developments that could provide more direction to markets on Thursday:- South Korea interest rate decision- Indonesia interest rate decision- South Korea producer price inflation (July)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Hong, Jamie McGeever, Josie Kao Organizations: Seoul Museum of Art, REUTERS, Wall, Nvidia, Shanghai CSI, Bank of England, European Central Bank, Bank of, Bank Indonesia, Thomson, Reuters Locations: Seoul, South Korea, Indonesia, Asia, Europe, China, Shanghai, Japan, Bank of Korea, Korea

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