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☆ China's BYD sets Dolphin EV price in Japan at 3.63 mln yen -website
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Visitors view a BYD Dolphin EV car at the 44th Bangkok International Motor Show in Bangkok, Thailand, March 23, 2023. REUTERS/Athit Perawongmetha/File Photo Acquire Licensing RightsCompanies BYD Co Ltd FollowTOKYO, Sept 20 (Reuters) - China's BYD (002594.SZ) has set the suggested retail pricing of its Dolphin electric vehicle in Japan at 3.63 million yen ($24,565.20), its website showed on Wednesday. The automaker had already announced earlier this month it would start selling the Dolphin as its second EV model in Japan, after launching a more expensive electric sports utility vehicle earlier this year. A long-range version of the Dolphin has a suggested retail pricing of 4.07 million yen, the company said. ($1 = 147.7700 yen)Reporting by Daniel Leussink; Editing by Christopher Cushing and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Athit, Daniel Leussink, Christopher Cushing Organizations: REUTERS, BYD, Thomson Locations: Bangkok, Thailand, Japan, China

☆ Chinese developer Sunac seeks Chapter 15 protection in New York court
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

People on a property tour talk outside of a show flat at a residential property developed by Sunac China Holdings in Xishuangbanna Dai Autonomous Prefecture, Yunnan Province, China, June 22, 2019. REUTERS/Lusha Zhang Acquire Licensing RightsSept 19 (Reuters) - Chinese developer Sunac China Holdings (1918.HK) has filed for Chapter 15 protection from creditors in a U.S. bankruptcy court, court documents showed on Tuesday. Creditors of Sunac China Holdings approved its $9 billion offshore debt restructuring plan on Monday, marking the first approval of such debt overhaul by a major Chinese property developer. Sunac is among a string of Chinese property developers that have defaulted on their offshore debt payment obligations since the sector was hit by a liquidity crisis in 2021, roiling global markets. Reporting by Jyoti Narayan in Bengaluru; Editing by Christopher Cushing and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Lusha Zhang, Jyoti Narayan, Christopher Cushing, Jacqueline Wong Organizations: Sunac China Holdings, REUTERS, HK, Thomson Locations: Xishuangbanna Dai Autonomous Prefecture, Yunnan Province, China, U.S, United States, Bengaluru

☆ Russian attack kills one, causes fire in west Ukrainian city of Lviv - officials
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

[1/4] Firefighters work at a site of an industrial warehouse damaged by a Russian drone strike, amid Russia's attack on Ukraine, in Lviv, Ukraine September 19, 2023. Lviv governor Maxim Kozitsky said firefighters were tackling the blaze and that a 26-year-old man had been taken to hospital. "I want to emphasise that these are ordinary industrial warehouses. He said Russian forces had launched 18 drones in the attack and that 15 had been shot down, including seven that were directly over the Lviv region. At least seven people were killed in July when a Russian missile slammed into a residential building in Lviv, which is far from front lines.

Persons: Maxim Kozitsky, Andriy Sadovyi, Kozitsky, Lidia Kelly, Anna Pruchnicka, Christopher Cushing, Michael Perry, Timothy Organizations: Press, State Emergency Service of Ukraine, REUTERS Acquire, Rights, Lviv, Russian, Timothy Heritage, Thomson Locations: Russian, Ukraine, Lviv, Russia, Ukrainian, Moscow, Melbourne

☆ Russian air attack on Ukraine's Lviv injures one, sparks fire - Ukraine's officials
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Sept 19 (Reuters) - The western Ukrainian city of Lviv was rocked by blasts in the early hours on Tuesday, with local officials saying the Russian air attack injured one man and caused a major fire at an industrial warehouse. "A woman and a man were found under the rubble in Lviv. Lviv city mayor Andriy Sadovyi said air raid alerts for the region were called off after nearly three hours at around 0300 GMT. Ukraine's President Volodymyr Zelenskiy condemned the attack at the time, saying Russia was behind it. Reporting by Lidia Kelly in Melbourne; Editing by Christopher Cushing and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Maxim Kozitsky, Andriy Sadovyi, Volodymyr Zelenskiy, Lidia Kelly, Christopher Cushing, Michael Perry Organizations: Reuters, New York Times, The New York Times, Thomson Locations: Ukrainian, Lviv, Lviv's, Russia, Kostiantynivka, Ukraine, Melbourne

☆ Cargo vessel leaves Ukraine's Chornomorsk after loading grain - Deputy PM
▼ + stars: | 2023-09-19 | by ( Pavel Polityuk | ) www.reuters.com time to read: +2 min

Palau-flagged general cargo vessel Resilient Africa loaded with grain, leaves the sea port of Chornomorsk, amid Russia's attack on Ukraine, near Odesa, Ukraine September 19, 2023. REUTERS/Stringer Acquire Licensing RightsKYIV, Sept 19 (Reuters) - A cargo vessel carrying grain has left the Ukrainian Black Sea port of Chornomorsk for the first time since a grain deal collapsed, a top government official said on Tuesday, in a test of Ukraine's ability to unblock its seaports for grain export. "The vessel RESILIENT AFRICA, carrying 3,000 tons of wheat, has left the port of Chornomorsk and is heading towards the Bosphorus," Deputy Prime Minister Oleksandr Kubrakov said on Facebook. Kubrakov said the second ship, Aroyat, is still moored in Chornomorsk and is being loaded with wheat for Egypt. The Black Sea grain deal was brokered by the U.N. and Turkey in July 2022 to combat a global food crisis worsened by Russia's invasion of Ukraine.

Persons: Stringer, Oleksandr Kubrakov, Kubrakov, Aroyat, Pavel Polityuk, Anna Pruchnicka, Christopher Cushing, Kirsten Donovan Organizations: REUTERS, Rights, Facebook, Chornomorsk, Ukrainian Navy, Thomson Locations: Palau, Africa, Chornomorsk, Ukraine, Odesa, Ukrainian, AFRICA, Russia, Asia, Egypt, Moscow, Romania, Bulgaria, Turkey

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSINGAPORE, Sept 15 (Reuters) - Oil prices rose on Friday and are set for a third weekly gain, as better-than-expected Chinese economic data and reports of record oil consumption bolstered the view that demand in the world's second-largest crude consumer will continue to surge. Brent crude futures rose 62 cents, or 0.7%, to $94.32 as of 0249 GMT, while the U.S. West Texas Intermediate crude (WTI) was up 71 cents, or 0.8%, at $90.87. China's industrial output and retail sales grew at a faster-than-expected rate in August, suggesting that the recovery of the world's second-largest economy from the COVID-19 pandemic is stabilising. The International Energy Agency said this week it expects Saudi Arabia's and Russia's extended oil output cuts to result in a market deficit through the fourth quarter.

Persons: Agustin Marcarian, Edward Moya, Brent, WTI, Sudarshan Varadhan, Christopher Cushing Organizations: REUTERS, Rights, Brent, U.S . West Texas, National, International Energy Agency, Saudi, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, OANDA, China, Russia, Saudi Arabia

The behind-the-scenes details on the IPO pricing decision are based on interviews with three people familiar with the discussions. Together with other previously unreported deliberations, they shed new light on why SoftBank took a conservative approach in valuing Arm in the IPO. SoftBank, which had owned 75% of Arm, agreed to buy the remaining 25% from its $100 billion Vision Fund at a $64 billion valuation last month. Representatives for Arm, SoftBank, PIF, Mubadala and Raine either declined to comment or did not immediately respond to requests for comment. VISION FUND BOUNCEBACKThe Vision Fund returned to profitability in the latest quarter thanks to investors' excitement around artificial intelligence boosting the value of some of the startups in which it invested.

Persons: Dado Ruvic, Masayoshi Son, Raine Group, Son, SoftBank, Fund's, Abu Dhabi's Mubadala, Raine, Didi Global, Echo Wang, Anirban Sen, Greg Roumeliotis, Christopher Cushing Organizations: REUTERS, SoftBank, Wednesday, Arm Holdings, Nasdaq, Vision Fund, Investors, Saudi Arabia's Public Investment Fund, Vision, Reuters, Nvidia Corp, Thomson Locations: San Francisco, New York, Mubadala, China, United States

☆ China, Venezuela sign agreements on economy, trade, tourism
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

China on Wednesday upgraded relations with Venezuela to an "all-weather strategic partnership", typically reserved for a select few nations. Maduro said Venezuela supports China's Belt and Road Initiative to boost trade infrastructure, Chinese media said, referring to a related conference in China next month. China has said it has Belt and Road cooperation agreements with more than 150 countries and over 30 international organisations. China said it is willing to support construction of special economic zones in Venezuela and both countries agreed to further develop bilateral trade and "enrich the variety of trade goods". In the statement they also said agreements on aviation and aerospace include future flights between the countries and cooperation in spaceflight.

Persons: Xi Jinping, Nicolas Maduro, Maduro's, Xi, Maduro, Bernard Orr, Liz Lee, Ella Cao, Elaine Hardcastle, Christopher Cushing Organizations: of, REUTERS Acquire, China Central Television, China, Initiative, United Nations, New Development Bank, Thomson Locations: Beijing, China, Miraflores, Handout, Venezuela, BEIJING, Venezuelan, China's, Brazil, Russia, India, South Africa

U.S. President Joe Biden delivers remarks on his economic agenda at Prince George's Community College in Largo, Maryland, U.S. September 14, 2023. REUTERS/Jonathan Ernst Acquire Licensing RightsWASHINGTON, Sept 14 (Reuters) - U.S. President Joe Biden told top American rabbis on Thursday that he felt antisemitism has "risen to record levels" and was a big challenge for the entire country, while also taking a dig at Republican former President Donald Trump over the issue. "Antisemitism has risen to record levels," Biden said in a call with U.S. rabbis to commemorate the Jewish High Holidays. The rally followed months of protests over the city's plan to remove a statue of Confederate General Robert E. Lee. More than 3,600 antisemitic incidents were recorded in the United States in 2022, more than in any year since ADL began tracking the issue in 1979.

Persons: Joe Biden, Jonathan Ernst, Donald Trump, Biden, Confederate, Robert E, Lee ., Trump, Trump's, Kanishka Singh, Christopher Cushing Organizations: Prince George's Community College, REUTERS, Rights, Republican, Democratic, University of Virginia, Defamation League, Tel Aviv University, ADL, Thomson Locations: Largo , Maryland, U.S, Charlottesville , Virginia, Lee, Charlottesville, United States

☆ Hong Kong shuts schools as it issues heavy rain warning
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Sept 14 (Reuters) - Hong Kong closed schools on Thursday after authorities issued the second-highest rain signal and warned of extensive flooding, just days after the Asian financial hub was drenched by the heaviest rain since records began 140 years ago. The city's weather observatory issued the "red" signal before 6 a.m. local time, saying rain exceeding 50 millimetres in an hour is falling and likely to continue. "Heavy rain will bring flash floods and flooding is occurring or expected to occur in watercourses," it said. Hong Kong's stock market will remain open unless the highest "black" signal is issued. The heavy rain comes as the city is still repairing damage caused by torrential rain linked to typhoon Haikui which passed nearby in recent days.

Persons: Hong, Tsueng Kwan, Sai Kung, Farah Master, Christopher Cushing Organizations: Thomson Locations: HONG KONG, Hong Kong, Tai Tam, British

☆ Hong Kong Shuts Schools as It Issues Heavy Rain Warning
▼ + stars: | 2023-09-13 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

HONG KONG (Reuters) - Hong Kong closed schools on Thursday after authorities issued the second-highest rain signal and warned of extensive flooding, just days after the Asian financial hub was drenched by the heaviest rain since records began 140 years ago. The city's weather observatory issued the "red" signal before 6 a.m. local time, saying rain exceeding 50 millimetres in an hour is falling and likely to continue. "Heavy rain will bring flash floods and flooding is occurring or expected to occur in watercourses," it said. Hong Kong's stock market will remain open unless the highest "black" signal is issued. The heavy rain comes as the city is still repairing damage caused by torrential rain linked to typhoon Haikui which passed nearby in recent days.

Persons: Hong, Tsueng Kwan, Sai Kung, Farah Master, Christopher Cushing Organizations: Reuters Locations: HONG KONG, Hong Kong, Tai Tam, British

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsTAIPEI, Sept 13 (Reuters) - Taiwan's defence ministry said it spotted 28 Chinese air force planes in its air defence zone on Wednesday morning, part of what Taipei calls regular harassment by Beijing amid heightened tensions across the Taiwan Strait. Taiwan's defence ministry said that beginning at around 6 a.m. (2200 GMT Tuesday), Chinese warplanes, including J-10 fighters, had flown into the southwestern corner of the island's air defence identification zone, or ADIZ. China's defence ministry did not immediately respond to a request for comment. Taiwan's forces monitored the situation, including sending up its own air force planes and activating air defence systems, the ministry added, using the normal phrasing for its response to such Chinese incursions. A Chinese naval formation led by the Shandong entered the western Pacific for training, Taiwan's defence ministry said on Monday.

Persons: Dado Ruvic, Yimou Lee, Ben Blanchard, Christopher Cushing, Christian Schmollinger, Michael Perry, Mark Heinrich Our Organizations: REUTERS, Rights, Taipei, Self, Defense Force, Pacific, Reuters, U.S . Navy, U.S, Beijing, Thomson Locations: Rights TAIPEI, Beijing, Taiwan Strait, Taiwan, China, Shandong, Pacific, Miyako, Japan, Miyako Strait, United States, Philippines, Borneo, U.S, Canadian, India, South China, Tokyo

☆ UN rights expert urges US to go further with sanctions against Myanmar junta
▼ + stars: | 2023-09-13 | by ( David Brunnstrom | ) www.reuters.com time to read: +2 min

REUTERS/Ajeng Dinar Ulfiana/Pool/File Photo Acquire Licensing RightsWASHINGTON, Sept 13 (Reuters) - The U.N. human rights expert for Myanmar on Wednesday called on the United States to further tighten sanctions on the country's military rulers to include their main revenue source, the state oil and gas enterprise. Andrews praised Washington for imposing sanctions on the Myanmar Foreign Trade Bank and Myanma Investment and Commercial Bank in June, but said more needed to be done. I urge the U.S. to join the European Union and immediately impose sanctions on the junta's single largest source of revenue, the Myanma Oil and Gas Enterprise," Andrews said. In January, the United States targeted the managing director and deputy managing director of the Myanma Oil and Gas Enterprise with sanctions, but has yet to go further against the firm, despite the urgings of rights groups and dissidents. Myanmar military officials have played down the impact of sanctions and say their air strikes target insurgents.

Persons: Tom Andrews, Andrews, Congress's Tom Lantos, Washington, David Brunnstrom, Christopher Cushing Organizations: Association of Southeast Asian Nations, REUTERS, Rights, Myanmar, U.S . Congress, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, European Union, Gas Enterprise, United, Thomson Locations: Myanmar, Jakarta, Indonesia, United States, Washington, U.S, Bangladesh, Russia, China

☆ UN Rights Expert Urges US to Go Further With Sanctions Against Myanmar Junta
▼ + stars: | 2023-09-13 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By David BrunnstromWASHINGTON (Reuters) - The U.N. human rights expert for Myanmar on Wednesday called on the United States to further tighten sanctions on the country's military rulers to include their main revenue source, the state oil and gas enterprise. U.N. Special Rapporteur Tom Andrews, a former member of the U.S. Congress, also said it was vital for Washington to at least maintain levels of humanitarian support for victims of the junta inside and outside Myanmar. Andrews praised Washington for imposing sanctions on the Myanmar Foreign Trade Bank and Myanma Investment and Commercial Bank in June, but said more needed to be done. I urge the U.S. to join the European Union and immediately impose sanctions on the junta's single largest source of revenue, the Myanma Oil and Gas Enterprise," Andrews said. Myanmar military officials have played down the impact of sanctions and say their air strikes target insurgents.

Persons: David Brunnstrom WASHINGTON, Tom Andrews, Andrews, Congress's Tom Lantos, Washington, David Brunnstrom, Christopher Cushing Organizations: Myanmar, U.S . Congress, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, European Union, Gas Enterprise, United Locations: United States, Washington, Myanmar, U.S, Bangladesh, Russia, China

☆ Japan PM to keep his chief cabinet secretary in cabinet reshuffle -Yomiuri
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Sept 12 (Reuters) - Japanese Prime Minister Fumio Kishida has decided to keep Hirokazu Matsuno in his current post as chief cabinet secretary, a key ministerial position, during a cabinet reshuffle, the Yomiuri newspaper reported on Tuesday. The Yomiuri said core members of his cabinet and party leadership will remain unchanged, as Kishida also plans to keep former premier Taro Aso as party vice president and former foreign minister Toshimitsu Motegi as party secretary-general. Kishida, also the head of the ruling Liberal Democratic Party (LDP), has said he plans to reshuffle his cabinet and conduct a personnel change of party leadership as early as Wednesday. Shinzo Abe and Yoshihide Suga, two prime ministers before Kishida, both served as chief cabinet secretary before becoming premier. Reporting by Kiyoshi Takenaka; Editing by Christian Schmollinger and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Fumio Kishida, Kishida, Taro Aso, Toshimitsu Motegi, Shinzo Abe, Yoshihide Suga, Kiyoshi Takenaka, Christian Schmollinger, Christopher Cushing Organizations: Yomiuri, Liberal Democratic Party, Kishida, Thomson Locations: TOKYO

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "It seems that Ueda's comments were intended to stop the yen's slide against the dollar," said Takehiko Masuzawa, trading head at Phillip Securities Japan. Christopher Wong, a currency strategist at OCBC, attributed the dollar's slide to traders "lightening up" on their long dollar positions ahead of the data. Against the weaker U.S. dollar, the Aussie and the New Zealand dollar were among the biggest beneficiaries, each rising more than 0.5%. The Australian dollar was last 0.6% higher at $0.64165, while the kiwi gained 0.52% to $0.5914.

Persons: Florence Lo, Kazuo Ueda stoked, Ueda, Takehiko, Sterling, Christopher Wong, Alvin Tan, Matt Simpson, Rae Wee, Junko Fujita, Sam Holmes, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Yomiuri, Federal Reserve, Phillip Securities Japan, British, Fed, Treasury, Asia FX, RBC Capital Markets, Index, Aussie, New Zealand, Thomson Locations: Rights SINGAPORE, Japan, Asia, United States, U.S, Singapore, Tokyo

Alibaba Group sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. Zhang also handed over the role of group CEO to Wu on Sunday as scheduled. "Alibaba Cloud has lost some ground with government and state-owned enterprise clients, which were previously a stronghold for the company," Li said. "During his leadership tenure, Alibaba Cloud's business did not improve significantly despite his efforts. Zhang likely realised that the challenges facing Alibaba Cloud's lacklustre growth were beyond what he could influence or control as an individual executive."

Persons: Aly, Daniel Zhang, Alibaba, Eddie Wu, Zhang, Wu, Canalys, Li Chengdong, Li, Sern Ling, Union Bancaire Privee, Donny Kowk, Josh Ye, Yelin, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman, Christopher Cushing Organizations: Artificial Intelligence, REUTERS, China's, Reuters, DAMO Academy, Huawei Technologies, Union Bancaire, HK, Thomson Locations: Shanghai, China, HONG KONG, Hong Kong, HK, Alibaba, Beijing, Yelin Mo

☆ Argentine conservative opposition wins provincial governor election by landslide
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

People gather at the campaign headquarters of the Juntos por el Cambio alliance for a primary election night event in Buenos Aires, Argentina August 13, 2023. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Sept 10 (Reuters) - Argentina's main opposition alliance, Juntos por el Cambio, has won the governorship of Santa Fe province, the country's third most populous, in a sweeping victory for the conservative bloc, according to official provisional election data. One of the most important agricultural districts in Argentina, Santa Fe is home to the Rosario agricultural port complex, from which more than 80% of the country's agricultural shipments are exported. The latest national polls show an advantage for the libertarian economist Javier Milei, followed by Massa and the Juntos por el Cambio presidential candidate, Patricia Bullrich. "I wish the best future for the entire province of Santa Fe," said Fernandez, who is part of the Peronist coalition.

Persons: Agustin Marcarian, Maximiliano Pullaro, Marcelo Lewandowski, Pullaro, Sergio Massa, Javier Milei, Massa, Patricia Bullrich, Bullrich, Alberto Fernandez, Fernandez, Eliana Raszewski, Jackie Botts, Leslie Adler, Christopher Cushing Organizations: el Cambio, REUTERS, la Patria, Peronist, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Santa Fe, Rosario, Argentine

[1/2] Venezuela's President Nicolas Maduro gestures during a meeting with Chile's Ambassador to Venezuela Jaime Gazmuri, at Miraflores Palace, in Caracas, Venezuela August 16, 2023. Energy trade, debt repayment and new financing likely are the main focus of the Sept. 8-14 visit, officials and sources said. Beijing's decision to host Maduro coincides with a G20 summit in New Delhi this weekend, which Chinese President Xi Jinping will not attend. In 2020, the Maduro administration and Chinese banks again agreed to a grace period on some $19 billion of Chinese debt, according to Reuters reporting. Despite sanctions on Venezuela, China imported around 390,000 barrels per day of crude from the country between January and August this year, totalling roughly 12.9 million metric tons, data from commodities consultancy Vortexa showed.

Persons: Nicolas Maduro, Venezuela Jaime Gazmuri, Leonardo Fernandez Viloria, Han Zheng, Wang Yi, hegemonism, Han, Pedro Tellechea, Tellechea, Xi Jinping, Maduro, Hugo Chavez's, Joe Biden's, PDVSA, CNPC, Donald Trump, Andrew Hayley, Liz Lee, Joe Cash, Vivian Seuqera, Mayela, Marianna Parraga, Christopher Cushing, Frances Kerry, Marguerita Choy Organizations: REUTERS, Rights, West, Energy, China National Petroleum Corp, Venezuelan, Venezuelan Oil, Shanghai International Energy Exchange, Shanghai Petroleum, Natural Gas Exchange, South, Shanghai, Mayela Armas, Thomson Locations: Venezuela, Miraflores, Caracas, Rights BEIJING, CARACAS, China, OPEC, Beijing, Shanghai, Asia, New Delhi, Malaysia, South American, Houston

[1/2] Venezuela's President Nicolas Maduro gestures during a meeting with Chile's Ambassador to Venezuela Jaime Gazmuri, at Miraflores Palace, in Caracas, Venezuela August 16, 2023. REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsBEIJING, Sept 8 (Reuters) - Venezuela's President Nicolas Maduro will visit China over Sept. 8-14, China's foreign ministry said on Friday, marking renewed engagement between the two countries amid deepening tensions between Beijing and Western capitals. The visit coincides with the G20 summit in New Delhi this weekend, which China's president Xi Jinping will not attend. China is the world's largest importers of crude oil, while Venezuela has the largest proven reserves. The company stopped carrying Venezuelan oil in August 2019 after the Trump administration tightened sanctions against the South American exporter.

Persons: Nicolas Maduro, Venezuela Jaime Gazmuri, Leonardo Fernandez Viloria, Wang Yi, Delcy Rodriguez, Xi Jinping, Maduro, Xi, Trump, Hugo Chavez, Andrew Hayley, Liz Lee, Christopher Cushing Organizations: REUTERS, Rights, Venezuelan, UN, Energy, South, Thomson Locations: Venezuela, Miraflores, Caracas, Rights BEIJING, China, Beijing, Shanghai, New Delhi, Kpler, Malaysia, South American

☆ China's Tencent says large language AI model 'Hunyuan' available for enterprise use
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: 1 min

A man rides an electric bike past the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. REUTERS/David Kirton/File Photo Acquire Licensing RightsBEIJING, Sept 7 (Reuters) - China's Tencent Holdings (0700.HK) said its large language artificial intelligence (AI) model "Hunyuan" will be available for enterprise use from Thursday. The AI model has more than 100 billion parameters, the technology major said. Reporting by Beijing Newsroom; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: David Kirton, Christopher Cushing Organizations: REUTERS, Rights, Tencent Holdings, HK, Beijing, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, Rights BEIJING

☆ China's Tencent debuts large language AI model, says open for enterprise use
▼ + stars: | 2023-09-07 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

REUTERS/David Kirton/File Photo Acquire Licensing RightsBEIJING, Sept 7 (Reuters) - Tencent Holdings (0700.HK) said on Thursday companies could now use its large language artificial intelligence (AI) model "Hunyuan" as it premiered the much-awaited product amid a race by tech firms race to become China's AI champion. Hunyuan's debut comes after several Chinese tech firms including Baidu Inc (9888.HK) and SenseTime Group (0200.HK) recently unveiled their own AI models. Tencent, China's most valuable internet company, said Hunyuan had more than 100 billion parameters and was trained with more than 2 trillion tokens, two metrics often used to measure AI models' power. OpenAI's GPT-3 AI model contained 175 billion parameters in 2020 and Meta Platform Inc (META.O)'s Llama 2 model had 70 billion parameters in 2023. AI experts often describe moments where AI models generate incorrect information but present it as if it was a fact as "hallucination".

Persons: David Kirton, Hunyuan, Jiang Jie, OpenAI's, Tencent, ChatGPT, Josh Ye, Christopher Cushing, Miral Organizations: REUTERS, Rights, Tencent Holdings, HK, Baidu Inc, SenseTime, Meta, Beijing, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, Rights BEIJING, Hong Kong

☆ South Korea should maintain current monetary, fiscal policies, IMF says
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsSEOUL, Sept 6 (Reuters) - South Korea should maintain current, restrictive monetary and fiscal policies as it needs to take steps to return to sustainable finances and address inflation, the International Monetary Fund (IMF) said on Wednesday. Instead of undermining economic growth, the prudent fiscal policy is judged to be instrumental in keeping South Korea's economic fundamentals strong in the medium term, Finger said at a press conference. Finger told reporters the IMF decided not to evaluate South Korea's foreign exchange reserve adequacy based on its Assessing Reserve Adequacy (ARA) metrics from July. The measure is mostly for emerging economies, and given its economic characteristics, it is more appropriate to assess South Korea's on a scenario basis, Finger said.

Persons: Yuri Gripas, Harald Finger, Finger, China's, Cynthia Kim, Jihoon Lee, Jacqueline Wong, Christopher Cushing Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, South Korean, Bank of Korea, IMF, Thomson Locations: Washington , U.S, Rights SEOUL, South Korea, Korea

☆ Oil edges lower as markets shrug off supply jitters
▼ + stars: | 2023-09-06 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

NEW DELHI, Sept 6 (Reuters) - Oil prices reversed course on Wednesday after rising over 1% in the previous session, as investors shrugged off jitters arising from supply cuts from Saudi Arabia and Russia and a firm dollar capped the upside. A stronger dollar can weigh on oil demand by making the fuel more expensive for holders of other currencies. "Iran is producing close to 3.1 million barrels per day (bpd) and plans to pump around 3.4 million bpd. Reflecting supply concerns in the near term, the front-month Brent futures traded near 9-month highs at $4.13 a barrel above prices in six months. Sachdeva, however, added that the annual refinery maintenance period in the U.S. from September to October could limit demand for crude and potentially act as a restraining factor on rising oil prices.

Persons: Alexander Novak, Novak, Sachdeva, Mohi Narayan, Arathy Somasekhar, Christopher Cushing, Stephen Coates, John Stonestreet Organizations: Brent, . West Texas, Rystad Energy, ING Economics, ING, REUTERS, U.S, Saudi, Acme Investment Advisors, Thomson Locations: DELHI, Saudi Arabia, Russia, Iran, Volgograd, U.S, New Delhi, Houston

☆ Oil gains on supply woes after OPEC+ output cuts
▼ + stars: | 2023-09-06 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-month extension was unexpected. "These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide," Jorge Leon, senior vice president at consultancy Rystad Energy, said in a note. The Saudi and Russian voluntary cuts are on top of the April cut agreed by several OPEC+ producers, which extends to the end of 2024. "The decision to prolong output cuts underscores their dedication to price stability in a challenging market environment," Sugandha Sachdeva, executive director and chief strategist at Acme Investment Advisors, said. Sachdeva, however, added that the annual refinery maintenance period in the U.S. from September to October could limit demand for crude and potentially act as a restraining factor on rising oil prices.

Persons: Jorge Leon, Leon, Alexander Novak, Novak, Sachdeva, Mohi Narayan, Arathy Somasekhar, Christopher Cushing, Stephen Coates Organizations: REUTERS, Brent, . West Texas, Rystad Energy, Saudi, Acme Investment Advisors, Thomson Locations: Volgograd, Russia, DELHI, Saudi Arabia, West, U.S, New Delhi, Houston

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