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Pakistan's Foreign Minister Shah Mehmood Qureshi gestures as he speaks during an interview with Reuters at the Ministry of Foreign Affairs (MOFA) office in Islamabad, Pakistan June 25, 2020. REUTERS/Salahuddin/File photo Acquire Licensing RightsKARACHI, Pakistan, Aug 19 (Reuters) - Pakistani opposition leader Shah Mehmood Qureshi was detained on Saturday, his Pakistan Tehreek-e-Insaf party said, just hours after he said it would challenge any delay to the country's election in the courts. Party spokesman Zulfi Bukhari told Reuters the specific reason for the detention of Qureshi, twice Pakistan's foreign minister, was not immediately clear. The outgoing government approved a new census in its final days, meaning new electoral boundaries must be drawn up by the Election Commission. IMF BAILOUTThe election commission said on Thursday that new constituencies would be finalised by Dec. 14, state television reported.

Persons: Shah Mehmood Qureshi, Salahuddin, Zulfi Bukhari, Qureshi, Bukhari, Imran Khan, Khan, Haq Kakar, Ariba Shahid, Toby Chopra, Alison Williams Organizations: Pakistan's, Reuters, Ministry of Foreign Affairs, REUTERS, Rights, PTI, IMF, Supreme, Monetary Fund, Thomson Locations: Islamabad, Pakistan, Rights KARACHI, Karachi

Ex-Trump chief of staff Mark Meadows and former Acting U.S. Attorney General Matthew Whitaker are board members. The complaints come as many experts expect an uptick in challenges to corporate diversity programs following a U.S. Supreme Court ruling in June that prohibited race-conscious college admissions policies. “There certainly is a deep psychological effect that is putting the brakes on the forward movement of diversity in the workplace,” Rossein said. America First has also filed lawsuits accusing Target Corp and Progressive Insurance of breaching their duties to shareholders by adopting diversity programs and progressive marketing campaigns, for instance celebrating LGBTQ Pride Month. Commissioner Andrea Lucas, a Trump appointee, filed a dozen charges last year, more than any of her colleagues.

Persons: Trump, Stephen Miller, Donald Trump's Mar, Jonathan Ernst, Activision's, Kellogg, Morgan Stanley, Donald Trump, Mark Meadows, Matthew Whitaker, Rick Rossein, ” Rossein, Hershey, Andrea Lucas, Lucas, Gene Hamilton, Daniel Wiessner, Alexia Garamfalvi, Daniel Wallis Organizations: REUTERS, Activision Blizzard Inc, Kellogg, U.S, Opportunity Commission, America, Starbucks Corp, McDonald's Corp, Anheuser, Busch Companies, Hershey Co, Republican, Trump, Supreme, City University of New York School of Law, Target Corp, Progressive Insurance, Activision, Democratic, Thomson Locations: Lago, Palm Beach , Florida, U.S, America, Albany , New York

Western automakers are rattled, with Carlos Tavares, the CEO of Peugeot-to-Fiat carmaker Stellantis (STLAM.MI), warning last month of an "invasion" of cheap Chinese EVs in Europe. But Chinese brands are likely to struggle to sell cars in Europe as cheaply as at home. CONSUMER TRUSTWhile some Chinese brands, such as MG, are well known in Europe, others like XPeng (9868.HK) and Nio need to build trust. Surveys indicate most potential EV buyers in Europe do not recognise Chinese brands. But among those aware of Chinese brands, 1% or fewer would consider buying one.

Persons: Annegret, Carlos Tavares, Chen Shihua, ” Shihua, Spiros Fotinos, Alexander Klose, BYD, Geely’s Lynk, Tesla, Aiways, Zeekr's Fotinos, ” Fotinos, Klose, Victoria Waldersee, Zhang Yan, Gilles Gillaume, Giulio Piovaccari, Mark Potter Organizations: REUTERS, HK, Allianz . Western, Peugeot, Fiat, EV, New Energy Vehicle, Jato Dynamics, Logistics, Geely, South Korean, YouGov, GAC, Victoria, Thomson Locations: Berlin, Germany, Europe, BERLIN, China, Beijing, Munich, Milan

☆ EV battery imports face scrutiny under US law on Chinese forced labor
▼ + stars: | 2023-08-17 | by ( Nichola Groom | ) www.reuters.com time to read: +6 min

More than a year of enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) has already stymied development of solar energy projects as detained panel shipments languish in U.S. warehouses. When shipments are detained, CBP provides the importer with a list of examples of products from previous reviews and the kind of documentation required to prove they are not made with forced labor, CBP told Reuters. "The timing of these changes does not reflect any specific changes in strategy or operations," a CBP spokesperson said in a statement, adding that the list of eight product types was "not exhaustive." In a report to Congress last month on UFLPA enforcement, CBP listed lithium-ion batteries, tires, "and other automobile components" among the "potential risk areas" it was monitoring. The stepped-up focus on automakers follows a study by Britain's Sheffield Hallam University published in December that said nearly every major automaker has exposure to products made with forced labor in Xinjiang.

Persons: Janet Yellen, Mark Schiefelbein, Dan Solomon, Chevalier, Solomon, Britain's, Ron Wyden, Wyden, we've, Tesla, Brandon Daniels, Nichola Groom, David Shepardson, Jan Schwartz, Daniel Leussink, Matthew Lewis Organizations: Reuters, U.S . Customs, Border Protection, Beijing, Uyghur, Labor, U.S . Solar Energy Industries Association, Biden, CBP, Miller, Britain's Sheffield Hallam University, U.S, Senate, Benz, Volkswagen, Friedrichshafen AG, Bosch, General Motors, Honda, Toyota, Continental AG, Thomson Locations: United States, Diaoyutai, Beijing, China, Xinjiang, U.S, Detroit, UFLPA, Los Angeles, Washington, Hamburg, Tokyo

☆ Israel says Arrow-3 missile-killer sale to Germany approved by U.S.
▼ + stars: | 2023-08-17 | by ( Dan Williams | ) www.reuters.com time to read: +2 min

REUTERS/Amir Cohen/FILE PHOTO Acquire Licensing RightsJERUSALEM, Aug 17 (Reuters) - The United States approved a $3.5 billion sale of Israel's Arrow-3 missile defence system to Germany on Thursday, clearing the way for delivery in 2025 and full operational deployment by 2030, Israeli officials said. The U.S. is a partner in the Arrow project, which was developed jointly by the Israel Missile Defence Organisation and the United States Missile Defense Agency. The Germany deal, which would be Israel's biggest ever defence sale, follows a European arms build-up in response to Russia's war in Ukraine. While Patriot and IRIS-T cover the medium layer of air defence, Arrow-3 - in whose production Boeing Co (BA.N) is also involved - offers protection for the higher layer. Israel's Army Radio said the signing ceremony with Germany on the Arrow-3 sale was expected to take place in November.

Persons: Amir Cohen, Moshe Patel, Patel, Boaz Levy, Dan Williams, Tom Hogue, Raju Gopalakrishnan Organizations: REUTERS, Rights, United, Israel Missile Defence Organisation, United States Missile Defense Agency, Israel's Defence Ministry, Israeli Missile Defence Organisation, Israel Aerospace Industries, IRIS, Boeing Co, Israel's Army Radio, Thomson Locations: Ashdod, United States, Germany, U.S, Ukraine, Israel, Russia

☆ Pakistan appoints new caretaker cabinet ahead of elections - GEO News
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: 1 min

KARACHI, Aug 16 (Reuters) - Pakistan's caretaker Prime Minister Anwaar-ul-Haq Kakar on Thursday appointed a new cabinet ahead of the national elections due in early November, broadcaster GEO News reported, citing sources. Former U.S. ambassador Jalil Abbas Jilani was named foreign minister and former central bank chief Shamshad Akhtar was appointed finance minister as part of the new caretaker cabinet, the report said. Reporting by Ariba Shahid, Writing by Blassy Boben; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Anwaar, Haq Kakar, Jalil Abbas Jilani, Shamshad Akhtar, Ariba Shahid, Blassy Boben, Toby Chopra Organizations: GEO, U.S, Thomson Locations: KARACHI

CNN —Authorities in Pakistan’s Punjab province have arrested more than 100 people after crowds descended on churches and set them on fire on Wednesday, raising concerns over the discrimination faced by religious minorities in the country. At least 17 churches have been vandalized since Wednesday, according to the National Commission for Human Rights (NCHR), a Pakistani government body. The attacks took place after a Christian man was accused of committing blasphemy and desecrating the Quran. “According to NCHR inquiry, 17 Churches in #Jaranwala have been targeted. 12 registered churches and 5 smaller, unregistered churches,” NCHR posted on X, previously known as Twitter, on Thursday.

Persons: ” NCHR, Anwaar, Haq Kakar, “, Mumtaz Zahra Baloch, ” Baloch, Riina Kionka, Prophet Mohammed, Asia Bibi Organizations: CNN, Authorities, National Commission for Human Rights, ” Ministry of Foreign, ” Police, PM, European Union Locations: Pakistan’s Punjab, Pakistani, Jaranwala, Punjab, Islamabad, Faisalabad, Pakistan, EU, Lahore’s Badami Bagh

CNN —A crowd vandalized eight churches and several homes following accusations of blasphemy against Islam in Pakistan’s most populated province of Punjab on Wednesday, according to government authorities and residents, stoking tensions between local Muslim and minority Christian communities. Multiple churches including the town’s Catholic Church, the Salvation Army Church and the Pentecostal Church, as well as the local Christian colony, were also vandalized and set on fire, Talib told CNN. Religious minorities in Pakistan are vulnerable to persecution under the country's strict blasphemy laws. Pakistan is among the countries where blasphemy is a crime punishable by the death sentence. Three years earlier, a mother of five from Punjab was convicted of blasphemy and sentenced to hang, after she was accused of defiling the name of the Prophet Mohammed.

Persons: “, Prophet Mohammed, ”, Yasir Talib, Talib, Ghazanfar Majidi, ” Pakistan’s, Anwaar, Haq Kakar, Bishop, Church of Pakistan Azad Marshall, ” Marshall, ” Riina Kionka, Asia Bibi Organizations: CNN, National Commission for Human Rights, Centre for Social Justice, Catholic Church, Salvation Army Church, Pentecostal Church, Police, . District Police, AP People, Getty, Church of, European Union Locations: Pakistan’s, Punjab, Jaranwala, Pakistani, Faisalabad, Wednesday, Pakistan, AFP, Church of Pakistan, EU, Lahore’s Badami Bagh

The two Christians were accused of blasphemy, he said, adding they and family members had fled their homes. Blasphemy is punishable by death in Pakistan and though no one has ever been executed for it, numerous accused people have been lynched by outraged crowds. A Christian leader, Akmal Bhatti, said the crowd had "torched" at least five churches and looted valuables from houses that had been abandoned by their owners. Several social media posts showed some churches, houses and belongings on fire as police stood by. The mob was made up of thousands of people led by local clerics, mainly from an Islamist political party called Tehreek-e-Labaik Pakistan (TLP), a government source said.

Persons: Naveed Ahmad, Shakil Masih, Usman Anwar, Anwar ul Haq Kakar, Akmal Bhatti, Asif Shahzad, Angus MacSwan, Nick Macfie Organizations: Reuters, REUTERS, REUTERS Acquire, Caretaker, Thomson Locations: LAHORE, Pakistan, Jaranwala, Faisalabad, Islamabad

The Pakistani government named a caretaker prime minister on Saturday, a move that kicks off preparations for the country’s next general elections and comes amid a year of political turmoil. The close ties that the new leader, Anwar-ul-Haq Kakar, has to the country’s powerful military reinforces its dominance over Pakistan’s politics, sending a clear message: After a year of political turmoil that challenged the authority of military leaders, they have a firm hand on the wheel once more. “He is undoubtedly a choice of the establishment,” Khalid Mahmood Rasool, a political analyst and newspaper columnist, said, referring to the military establishment. The term of the outgoing government, led by Shehbaz Sharif, who is also close the military, ended on Thursday. In Pakistan, once a government’s term ends, a caretaker must be established to oversee the next general elections.

Persons: Anwar, Haq Kakar, ” Khalid Mahmood Rasool, Shehbaz Sharif Locations: Pakistan

☆ Pakistan senator picked as caretaker PM to oversee elections
▼ + stars: | 2023-08-12 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +2 min

KARACHI, Pakistan, Aug 12 (Reuters) - Pakistani Prime Minister Shehbaz Sharif and opposition leader Raja Riaz agreed on Saturday to name Senator Anwaar-ul-Haq Kakar as caretaker premier to oversee elections, the Prime Minister's office said. "The prime minister (Sharif) and leader of opposition have jointly signed the advice which will be sent to the president for approval," the statement said. Under Pakistan's constitution, a neutral caretaker government oversees national elections, which must be held within 90 days of the dissolution of the parliament's lower house - which in this instance means early November. The choice of caretaker prime minister has assumed heightened importance this time because the candidate will have extra powers to make policy decisions on economic matters, and amid fears the elections may be delayed by as much as six months. Kakar has been serving a six-year term in Pakistan's Senate since 2018.

Persons: Shehbaz Sharif, Raja Riaz, Anwaar, Haq Kakar, Arif Alvi, Kakar, Gibran Peshimam, Raju Gopalakrishnan, Mark Potter Organizations: Pakistani, Geo News, Pakistan's Senate, Senate, Balochistan Awami Party, Thomson Locations: KARACHI, Pakistan, Balochistan, Pakistan's

☆ Pakistan senator Anwaar-ul-Haq Kakar named caretaker PM ahead of vote
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: 1 min

A general view of the parliament building in Islamabad, Pakistan March 25, 2022. REUTERS/Akhtar Soomro/File PhotoKARACHI, Pakistan Aug 12 (Reuters) - Pakistani senator Anwaar-ul-haq Kakar was named as caretaker prime minister to oversee national elections, the prime minister's office said on Saturday following a meeting between outgoing premier Shehbaz Sharif and opposition leader Raja Riaz. Reporting by Gibran Peshimam; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Akhtar Soomro, Anwaar, haq Kakar, Sharif, Raja Riaz, Gibran Peshimam, Andrew Heavens Organizations: REUTERS, Thomson Locations: Islamabad, Pakistan, KARACHI

[1/2] A man reads a newspaper, a day after Pakistan's parliament was dissolved by the president on Prime Minister Shehbaz Sharif's advice, at a makeshift stall in Karachi, Pakistan August 10, 2023. As it stands, former prime minister Imran Khan, the main opposition leader, cannot fight this election. There are three main contenders to lead the next government: Khan's PTI, the Pakistan Muslim League-Nawaz (PML-N) of Shehbaz Sharif and the Pakistan Peoples Party (PPP). Three-time premier Nawaz Sharif, the brother of the outgoing prime minister and whose PML-N was the senior partner in the outgoing coalition government, is seeking a return from exile. Bilawal Bhutto Zardari, 34, the young chairman of the PPP and son of former prime minister Benazir Bhutto, is another key candidate.

Persons: Shehbaz, Akhtar Soomro, Anwaar, Haq Kakar, IMRAN KHAN, Imran Khan, Khan, Nawaz Sharif, Bilawal Bhutto Zardari, Benazir Bhutto, Khan's jailing, Asif Shahzad, Gibran Peshimam, Raju Gopalakrishnan, Giles Elgood Organizations: REUTERS, BE, Monetary Fund, IMF, Balochistan Awami Party, WHO, PTI, Pakistan Muslim League, Nawaz, Pakistan Peoples Party, Constitutional, Thomson Locations: Karachi, Pakistan, Balochistan, Shehbaz Sharif

☆ China's Huawei reports small revenue bump on back of core businesses
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. REUTERS/Nicoco Chan/File PhotoSHENZHEN, China, Aug 11 (Reuters) - China's Huawei Technologies (HWT.UL) saw modest revenue growth in the first half of the year, with its core information and communications technology (ICT) infrastructure and consumer businesses generating the lion's share. Revenues rose to 310.9 billion yuan ($43.01 billion), up 3.1% on the same period a year earlier, the Shenzhen-based technology giant announced on Friday. Huawei's profit margin rose to 15%, with a net profit of 46.6 billion yuan, making, according to Reuters calculations, around a threefold improvement on a year earlier. "In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth," said Meng Wanzhou, Huawei's rotating chairperson and the daughter of its founder, Ren Zhengfei.

Persons: Nicoco Chan, Meng Wanzhou, Ren Zhengfei, Richard Yu, David Kirton, Simon Cameron, Moore Organizations: Huawei, Mobile, Congress, REUTERS, Huawei Technologies, Reuters, Thomson Locations: Shanghai, China, SHENZHEN, Shenzhen, U.S

☆ Ethiopian military pushes back militiamen in two Amhara towns
▼ + stars: | 2023-08-09 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +3 min

A partial view of the Lalibela town in the Amhara Region, Ethiopia, January 25, 2022. REUTERS/Tiksa Negeri//File PhotoADDIS ABABA, Aug 9 (Reuters) - Ethiopia's military has pushed local militiamen out of two towns in the Amhara region, residents said on Wednesday, in its first big battlefield breakthroughs since fighting erupted last week. A local official in Gondar said the military was "almost in full control of the city". Another Gondar resident said he had seen the military enter the city centre on Tuesday afternoon. Two Lalibela residents told Reuters that ENDF troops entered the town on Wednesday morning following intense fighting on Lalibela's outskirts the previous day.

Persons: Amhara's, Africa's, Spokespeople, Fano, ENDF, Bahir Dar, Aaron Ross, William Maclean, Peter Graff, Angus MacSwan Organizations: REUTERS, Tiksa, Ethiopian National Defence Force, Ethiopian Airlines, Bahir, Reuters, Fano, Facebook, Thomson Locations: Amhara Region, Ethiopia, ADDIS ABABA, Amhara, Gondar, Lalibela, Fano, Tigray, Lalibela's, Bahir

☆ Carlyle Group stake purchase values Quest Global at $2 bln, sources say
▼ + stars: | 2023-08-08 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

Quest Global investors Bain Capital and Advent International will exit in the transaction, while Quest Global will repurchase its own shares, Carlyle said in a statement. Ajit Prabhu, chairman and CEO of Quest Global, will acquire an additional stake, Carlyle said. Representatives for Bain Capital, Advent and Quest Global declined to comment on Quest Global's valuation in the deal. Established more than 25 years ago, Quest Global focuses on engineering, research and development services for the design, product development and operations of complex engineering systems. In 2016, Bain Capital and Advent, together with Singapore sovereign wealth fund GIC Pte Ltd (GIC.UL), jointly bought a minority stake in Quest Global for $350 million.

Persons: Carlyle, Issei Kato, HONG KONG, Ajit Prabhu, GIC, Kane Wu, Yantoultra Ngui, Jason Neely, Mark Potter Organizations: REUTERS, Carlyle Group, Quest Global Services, Global, Quest Global, Bain Capital, Advent, Quest, Thomson Locations: Tokyo, Japan, HONG, Singapore, Asia, Hong Kong

☆ Bosch, Infineon, NXP, TSMC to establish JV for German wafer fab
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: 1 min

The logo of Bosch is seen at an office building in Kyiv, Ukraine July 6, 2020. REUTERS/Valentyn Ogirenko/File PhotoBERLIN, Aug 8 (Reuters) - German technology group Robert Bosch (ROBG.UL) said on Tuesday that it will establish a joint venture with TSMC (2330.TW), Infineon (IFXGn.DE) and NXP (NXPI.O) with the aim of building a wafer fab in Dresden, Germany, by the second half of next year. The joint venture will be 70% owned by TSMC, with Bosch, Infineon and NXP each holding a 10% equity stake, according to a statement, and total investments are expected to exceed 10 billion euros ($10.97 billion) via equity injection, debt borrowing, and strong support from the European Union and German government. ($1 = 0.9120 euros)Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Valentyn, Robert Bosch, Miranda Murray, Friederike Heine Our Organizations: Bosch, REUTERS, TSMC, Infineon, European Union, Thomson Locations: Kyiv, Ukraine, Dresden, Germany

Germany, which has been courting the world's largest contract chipmaker since 2021, will contribute up to 5 billion euros to the factory in Dresden, capital of the eastern state of Saxony, German officials said. "There is going to be a real ecosystem for semiconductor manufacturing in Germany," said economy minister Robert Habeck. VOTE OF CONFIDENCETSMC said it would invest up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Company (ESMC), of which it will own 70%. Semiconductor makers Intel (INTC.O) and Wolfspeed (WOLF.N) have already taken advantage of the subsidies on offer to set up shop in Germany. TSMC said in a statement after a board meeting that approved the German investment that it had also approved a capital injection of not more than $4.5 billion for the Arizona plant as part of the overall $40 billion investment.

Persons: Robert Habeck, TSMC, Germany's Bosch, Habeck, Ben Blanchard, Thomas Escritt, Louise Heavens, Mark Potter Organizations: Taiwan Semiconductor Manufacturing, European Union, Semiconductor Manufacturing Company, Infineon, Semiconductor, Intel, EU, Sony, Thomson Locations: Dresden, Arizona, TAIPEI, BERLIN, Germany, Europe, Taiwan, China, Asia, United States, Saxony, Netherlands, Ukraine, U.S, Japan

☆ Inzamam expects second stint as Pakistan chief selector to be even better
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Pakistan's cricket playerspay respect to Inzamam-ul-Haq (C) on the fifth day of their second test cricket match against South Africa at Gaddafi Stadium in Lahore October 12, 2007. REUTERS/Zahid Hussein/File PhotoLAHORE, Pakistan, Aug 8 (Reuters) - Former Pakistan captain Inzamam-ul-Haq hopes his second stint as chief selector of the men's team will prove more successful than his first when the team won the 2017 Champions Trophy in England. With the Asia Cup and the 50-overs World Cup looming this year, the 53-year-old would play a crucial role as Pakistan eye continental and global titles this year. "But, I know I can deliver in this role and I will try to do better than I did the last time. "I am delighted that Inzamam-ul-Haq has agreed to head our national men’s selection committee at a crucial juncture.

Persons: Ul, Haq, Zahid Hussein, Inzamam, Zaka Ashraf, Amlan Chakraborty, Lincoln Organizations: South, Gaddafi, REUTERS, Former, Asia, Pakistan Cricket Board, Thomson Locations: South Africa, Lahore, LAHORE, Pakistan, Former Pakistan, England, Afghanistan, Sri Lanka, Australia, New Delhi

☆ Gazprom subsidiary files $472-million lawsuit against UniCredit in Russia
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Unicredit Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoMOSCOW, Aug 7 (Reuters) - RusKhimAlyans, 50%-owned by Russian gas giant Gazprom (GAZP.MM), has filed a lawsuit seeking 45.7 billion roubles ($472 million) from Italy's UniCredit [RIC:RIC:UCCDB.UL], a guarantor of a project held up by EU sanctions, Russian court documents show. The court documents were filed at the Court of Arbitration of St Petersburg and the Leningrad Region. In January, the same court ordered nearly $500 million of assets belonging to Linde , to be frozen at RusKhimAlyans's request. ($1 = 96.8150 roubles)Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Linde, Elena Fabrichnaya, Alexander Marrow, Kevin Liffey Organizations: REUTERS, Gazprom, Deutsche Bank, Linde, Industries, Ust, Thomson Locations: Petersburg, Leningrad Region, Baltic, Ust, Russia, Ukraine

☆ TSMC to decide in favour of German factory on Tuesday - Handelsblatt
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File PhotoBERLIN, Aug 7 (Reuters) - Taiwanese semiconductor manufacturer TSMC's (2330.TW) board of directors will decide in favour of building a factory in the German city of Dresden, the Handelsblatt daily reported on Monday, citing government sources. The German government will support the construction of the factory with 5 billion euros ($5.49 billion), according to the sources. TSMC, the world's largest contract chipmaker, has been in talks with the German state of Saxony since 2021 about building a fabrication plant, or "fab", in Dresden. It will operate the factory in a joint venture with partners Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXPSM.UL), the sources told Handelsblatt.

Persons: Ann Wang, Bosch, Handelsblatt, Miranda Murray, Friederike Heine Our Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Infineon, European, Intel, Thomson Locations: Hsinchu, Taiwan, German, Dresden, Saxony, Berlin, Europe, Brussels

☆ Huawei ban would cost German rail operator 400 million euros, der Spiegel reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A Huawei logo is seen on a cell phone screen in their store at Vina del Mar, Chile July 18, 2019. REUTERS/Rodrigo Garrido/File photoBERLIN, Aug 4 (Reuters) - Germany's national railway operator would have to spend up to 400 million euros ($437.44 million) to replace all the components in its infrastructure supplied by Chinese tech giant Huawei Technologies [RIC:RIC:HWT.UL], Spiegel magazine reported on Friday. Deutsche Bahn, which is state-owned, would face delays of five to six years for its projects if the German government decided to ban Huawei components in the short term, the report said, citing an internal company document. A spokesperson for Deutsche Bahn said the company would not comment on internal documents. Any decision to ban Huawei outright would likely draw an angry response from Beijing, with the Chinese foreign ministry having urged Berlin to act in line with its own interests and international rules.

Persons: Rodrigo Garrido, Rachel More, Miranda Murray Organizations: Huawei, Vina del, REUTERS, Huawei Technologies, Spiegel, Deutsche Bahn, Deutsche Telekom, Thomson Locations: Vina del Mar, Chile, BERLIN, Beijing, Berlin

☆ China's Huawei's handset business making a comeback, executive says
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. Huawei's share of the domestic smartphone market share grew by 76.1% in the second quarter, and took second spot in the high-end sector, Yu said. The company held 11.3% of the overall China market in the second quarter, behind five competitors led by Vivo and Apple, according to Counterpoint Research. Several rounds of U.S. restrictions on U.S.-made technology limited Huawei to producing last-generation 4G handsets, causing its once sizeable handset market share to plummet both at home and abroad. Yu said Huawei's in-house Harmony operating system has "overcome many challenges" in the last four years, noting there were now 2.2 million developers for the system.

Persons: Nicoco Chan, Richard Yu, Huawei's, Yu, David Kirton, Jason Neely Organizations: Huawei, Mobile, Congress, REUTERS, Huawei Technologies, Vivo, Apple, Research, Harmony, Reuters, Thomson Locations: Shanghai, China, SHENZHEN, Dongguan, U.S

REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Qualcomm (QCOM.O) forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The company estimated fourth-quarter revenue of $8.1 billion to $8.9 billion, while analysts polled by Refinitiv expected $8.70 billion. Qualcomm forecast a fourth-quarter adjusted earnings range with a midpoint of $1.90, in line with analysts' consensus estimate of $1.91 per share according to Refinitiv data. It forecast adjusted fourth-quarter earnings per share of $1.80 and $2, compared to estimates of $1.91. The automotive sector was a bright spot as Qualcomm seeks to diversify beyond smartphone chips.

Persons: Dado Ruvic, Akash Palkhiwala, Palkhiwala, Refinitiv, Cristiano Amon, MediaTek, Apple, Bob Bruggeworth, NXP, Amon, Kinngai Chan, Chavi Mehta, Cherney, Stephen Nellis, Arun Koyyur, Richard Chang Organizations: Qualcomm, REUTERS, Huawei, Philadelphia, Semiconductor, SOX, Apple, Summit, U.S, Thomson Locations: San Diego , California, China, U.S, Bengaluru, San Francisco

Violence erupted in the northern state of Harayana state on Monday after a right-wing Hindu organization led a religious procession in the Muslim dominated region of Nuh. However, opposition politicians and activists have called the attack a “hate crime” that targeted India’s Muslim minority population. Increase in hate crimesThe latest communal violence come against a broader rise in hate crimes against minority groups. Last month, the BJP chief minister of the state of Assam, Himanta Biswa Sarma, blamed Muslims for the soaring prices of tomatoes. Some cities named after historic Muslim figures have also been renamed to reflect India’s Hindu history.

Persons: Parveen Kumar, Narendra, Modi, Yogi, Asgar Ali, Mohammed, Ali, haven’t, Police haven’t, Asaduddin, ”, Jairam Ramesh, ” Asim Ali, Deepankar Basu, Himanta Biswa Sarma, Barack Obama, “ Hussain Obama ”, Obama, Adityanath, Donald Trump’s, Rana Ayyub Organizations: New Delhi CNN, Extra, Hindustan Times, Haryana Police, CNN, ” Police, Police, Bharatiya Janata Party, BJP, Dal, NDTV Locations: New Delhi, India, Harayana, Nuh, Gurgaon, Gurugram’s, Maharashtra, Mumbai, Haryana, Nuh Chowk, Gurugram, Hindustan, Delhi, Manipur, Assam, Uttar Pradesh, today’s India

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