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☆ 'Stark contrast' to China: Morgan Stanley upgrades India stocks and shares 4 top picks
▼ + stars: | 2023-08-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Morgan Stanley upgraded Indian stocks to "overweight" from "equal weight," citing a strong profit outlook and the country's attractiveness to investors in a "multipolar world." India's situation is in "stark contrast to that in China," the bank said in its Aug. 2 note. Morgan Stanley downgraded Chinese stocks to equal weight in the same note. Stock picks While Indian stock valuations "overshot somewhat" last October, it's "less extreme" now, Morgan Stanley said. Morgan Stanley added two Indian stocks to its focus list: Maruti Suzuki : Morgan Stanley said the automaker is set to benefit from a higher per-capita income in India; an expansion in market share; and an improving product mix.

Persons: Morgan Stanley, capex, Maruti Suzuki, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Maruti, ICICI Bank, Hindustan Aeronautics Locations: China, India, Saudi Arabia

☆ US risks 'funding our own destruction' if investor capital flows to Chinese defense firms, key lawmaker says
▼ + stars: | 2023-08-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Forthcoming restrictions should cover US participation in Chinese public markets, he said. "If American capital continues to flow to Chinese military companies, we are at risk of funding our own destruction." A "sizable portion" of that money goes directly to tech companies with ties to China's military and the Chinese Communist Party, he added. His comments follow earlier US efforts to curb Chinese access to critical technologies, such as semiconductors, quantum computing, and artificial intelligence. Meanwhile, foreign investors have been souring on China in recent months as the country's post-COVID economic rebound has disappointed.

Persons: Mike Gallagher, Biden, —, Gallagher, BlackRock Organizations: Service, Financial Times, White, Chinese Communist Party, Communist, Government, Wall Street, BlackRock Locations: China, Wall, Silicon, Wisconsin, MSCI

☆ China's oil and uranium business in Niger
▼ + stars: | 2023-07-31 | by ( Andrew Hayley | ) www.reuters.com time to read: +4 min

China's total foreign direct investment (FDI) into Niger stood at $2.68 billion as at the end of 2020, according to the U.S. Embassy in Niger. The pipeline investment is twinned with a second phase of development of the Agadem field. Taken together, total investment into the pipeline and second phase development is expected to reach $4 billion, according to China's Ministry of Commerce. URANIUM MINEIn 2007, state-owned China National Nuclear Corporation (CNNC) (601985.SS) entered a joint venture with the Nigerien government to develop the Azelik uranium mine in the centre of the country. Niger, which has Africa's highest-grade uranium ores, produced 2,020 metric tons of uranium in 2022, about 5% of world mining output, according to the World Nuclear Association.

Persons: Niger's, Mohamed Bazoum, PetroChina, CNNC, Andrew Hayley, Aizhu Chen Organizations: U.S, Embassy, Nigerien, China's Ministry of Commerce, Reuters, China National Nuclear Corporation, Hong Kong Stock Exchange, World Nuclear Association, Thomson Locations: BEIJING, China, France, West, Niger, PetroChina, Niamey, Zinder, Nigeria, Nigerien, Cotonou, Africa, Beijing, Singapore

BEIJING, July 24 (Reuters) - China is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money. With their coffers depleted after an economically bruising pandemic and property crisis, local authorities have been racing to find new revenue sources, with foreign investment particularly coveted. He cited five meetings between their London office and delegations from Chinese local governments in late June. PART OF THE SYSTEMLocal authorities carry out a delicate balancing act when courting foreign investment and dealing with critical questions about Xi's security policies. "As far as the macro situation is concerned, local governments can't do anything to reassure foreign investors.

Persons: Premier Li Qiang, Kiran Patel, Xi Jinping's, Noah Fraser, it's, Li Qiang, Agatha Kratz, Joe Cash, Brenda Goh, Sam Holmes Organizations: Premier, China - Britain Business Council, China's Ministry of Commerce, Canada China Business Council, Communist Party, Thomson Locations: BEIJING, China, Sichuan, Chaozhou, Shanghai

☆ Foreign investment is ramping up amid the reshoring boom. Here are UBS’s top under-the-radar plays
▼ + stars: | 2023-07-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Foreign direct investment is also picking up. That investment is on top of the reshoring boom that is already underway , as U.S. companies return operations back home, partly to ensure the safety of supply chains. More than 101,000 jobs were created by reshoring and foreign direct investment in the first quarter alone, up 11% year over year, according to the Reshoring Initiative . While Eaton is Snyder's top pick on the reshoring theme, he highlighted several other underappreciated names that stand to gain as well. Overall, auto reshoring announcements grew 30% in the second half of 2022 from the year prior, according to UBS.

Persons: Chris Snyder, UBS's Snyder, he's, Snyder, Eaton, Dave Regnery, Regnery, — CNBC's Michael Bloom Organizations: World Trade Organization, UBS, Reshoring, Keysight Technologies, U.S, Trane Technologies Locations: U.S, United States, China, reshoring, Taiwan, Asia

☆ China's growth model is no longer suited to the global economy, Mohamed El-Erian says
▼ + stars: | 2023-07-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China's growth model is no longer suited to the global economy, Mohamed El-Erian said. Exports have fallen, and growth in Europe and the US will likely be muted for the foreseeable future, he said. After an initial burst of first-quarter growth, China's industrial output, investment, and consumer activity have all cooled sharply. "First, as the most recent trade data show, the global economy no longer supports China's domestic growth dynamics," El-Erian said, noting that Chinese exports in June dropped 12.4% and imports declined 4.1%. Rather than hope for the rest of the world to save China's economy, El-Erian suggested that Beijing look inwards and re-orient political policy towards an effective growth model.

Persons: Mohamed El, Erian Organizations: Service, Syndicate, Allianz, Local Locations: Europe, China, Wall, Silicon, West, Beijing, El

☆ Turkey's Erdogan ends Gulf tour with Abu Dhabi visit
▼ + stars: | 2023-07-19 | by ( Rachna Uppal | ) www.reuters.com time to read: +2 min

Abu Dhabi is Erdogan's last stop in a Gulf tour that included the Saudi Red Sea city of Jeddah and Doha. Reaping the benefits of his diplomatic efforts, Saudi Arabia agreed on Tuesday to buy Turkish drones in the biggest defence contract in Turkey's history. Turkey also sent troops to Doha when Saudi Arabia and the UAE imposed a blockade on Qatar in 2017. Abu Dhabi agreed last year to a $5-billion swap deal in local currencies with Ankara to help its struggling lira. Reporting by Rachna Uppal in Abu Dhabi and Yousef Saba in Dubai, writing by Aziz El Yaakoubi; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Abu Dhabi, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Rachna Uppal, Yousef Saba, Aziz El Yaakoubi, Bernadette Baum Organizations: United Arab Emirates, Turkish, Thomson Locations: ABU DHABI, Abu Dhabi, Saudi Red Sea, Jeddah, Doha, Saudi Arabia, Riyadh, Turkey, UAE, Qatar, Ankara, Nahyan, Gulf, Dubai

☆ Ukraine seeks to lure global firms from Moscow as Danone and Carlsberg assets seized
▼ + stars: | 2023-07-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

Alexander Demianchuk | RussiaUkraine is urging global companies to divest from Russia and relocate to its war-stricken neighbor, as Moscow continues to seize the assets of foreign companies. Sergiy Tsivkach is the CEO of UkraineInvest, a government agency tasked with attracting foreign direct investment to Ukraine and promoting the country as a secure long-term investment option for international business. "It is important to show that the aggressor cannot receive any investments or any operations from international companies." 28, 2022 that it would seek a full disposal of its business in Russia, and signed an agreement on Jun. 'Your war investment could be wiped out'Ukraine's allies pledged nearly $60 billion toward the country's recovery and reconstruction at the Ukraine Recovery Conference in London in June.

Persons: Alexander Demianchuk, Vladimir Putin, Danone, Tsivkach, Carlsberg, UkraineInvest, David Roche Organizations: Carlsberg, CNBC, videolink, Yale School of Management, Danone, Baltika Breweries, Danone Russia, Russian Federal Agency, Rosimushchestvo, Mar, Initiative, Conference, Independent, NATO Locations: Carlsberg, St . Petersburg, Russia, Russia Ukraine, Moscow, Russian, Ukraine, Uniper, Kyiv, London

☆ Saudi Arabia buys Turkish drones during Erdogan's visit
▼ + stars: | 2023-07-18 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

Erdogan and Saudi Crown Prince Mohammed bin Salman attended the signing ceremony between Turkish defence firm Baykar and the Saudi defence ministry, Saudi state news agency SPA reported. Erdogan arrived in the Saudi Red Sea city of Jeddah on Monday for the first stop of a Gulf tour. Saudi Arabia will acquire the drones "with the aim of enhancing the readiness of the kingdom's armed forces and bolstering its defense and manufacturing capabilities," Defence Minister Prince Khalid bin Salman said in a tweet on Tuesday. SPA said Erdogan and Prince Mohammed attended the signing of a defense cooperation plan by Prince Khalid and Turkish Defence Minister Yasar Guler. Developing a local military industry has been part of an ambitious plan by Prince Mohammed to diversify the kingdom's economy away from oil.

Persons: Tayyip Erdogan, Erdogan, Saudi Crown Prince Mohammed bin Salman, Baykar, Prince Khalid bin Salman, Haluk Bayraktar, Jamal Khashoggi, Prince Mohammed, Prince Khalid, Yasar Guler, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Enas Alashray, Daren Butler, Jamie Freed, Lincoln, Tomasz Janowski, Bernadette Baum Organizations: Saudi Crown, Defence, Investments, United, United Arab Emirates, Turkish Defence, Turkish, Thomson Locations: RIYADH, Saudi Arabia, Saudi, Saudi Red Sea, Jeddah, Ankara, United Arab Emirates, Turkey, East, North Africa, Istanbul, Qatar, United Arab, Riyadh, UAE, Nahyan, Cairo

☆ Saudi Arabia and Turkey sign agreements on energy, defence and other fields
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

CAIRO, July 18 (Reuters) - Saudi Arabia and Turkey signed a number of memorandums of understanding in many fields including energy, direct investments and defence, Saudi state news agency SPA reported early on Tuesday. Turkey's President Tayyip Erdogan and Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, witnessed the signing ceremony of the bilateral agreements between the two countries, SPA said. Saudi Arabia signed two contracts with Turkish defence firm Baykar to buy drones "with the aim of enhancing the readiness of the Kingdom's armed forces and bolstering its defense and manufacturing capabilities," Saudi Defence Minister Prince Khalid bin Salman said in a tweet on Tuesday,The two countries also signed a defence cooperation plan, the minister added. Erdogan's Gulf tour, which also includes Qatar and the United Arab Emirates, is due to conclude on July 19. Reporting by Enas Alashray and Yomna Ehab; Editing by Jamie Freed and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Saudi Crown Prince Mohammed bin Salman, Baykar, Prince Khalid bin Salman, Erdogan, Enas Alashray, Jamie Freed Organizations: Saudi Crown, Turkish, Saudi Defence, United Arab, Thomson Locations: CAIRO, Saudi Arabia, Turkey, Saudi, Qatar, United Arab Emirates, Lincoln

☆ Gulf International Forum discusses Erdogan's Middle East visit
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailErdogan's Gulf tour: Priority is to increase direct investments into Turkey's economy, analyst saysDania Thafer, executive director of the Gulf International Forum, discusses what's on the agenda for Turkish President Recep Tayyip Erdogan's Middle East visit.

Persons: Dania Thafer, Recep Tayyip Erdogan's Organizations: Gulf International

Saudi state-run al-Ekhbariya television showed several Saudi officials welcoming Erdogan as he arrived at the venue of a Saudi-Turkish business forum in the Red Sea city of Jeddah. Erdogan is expected to meet with Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, later on Monday. "Turkey will have a serious investment opportunity in the defence industry, infrastructure and superstructure investments in the three countries," he said. Ekhbaria carried live footage showing Saudi Investment Minister Khaled al-Falih addressing dozens of businessmen from both sides at the Saudi-Turkish business forum in Jeddah. Turkey's budget deficit surged to 219.6 billion lira ($8.37 billion) in June, seven times the deficit a year earlier, data showed on Monday.

Persons: Tayyip Erdogan, Erdogan, Saudi Crown Prince Mohammed bin Salman, Ekhbaria, Khaled al, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Yilmaz, Huseyin Hayatsever, Ali Kucukgocmen, Daren Butler, Aziz El Yaakoubi, William Maclean Organizations: Saudi Crown, . Investments, United, Turkish, Saudi Investment, Thomson Locations: ISTANBUL, RIYADH, Saudi Arabia, Turkey, Saudi, Turkish, Red Sea, Jeddah, Ankara, United Arab Emirates, Istanbul, Qatar, UAE, Nahyan

The gathering comes at a time when global investors and banks are warning that confidence is waning in China's economic outlook. Such a meeting, with a clear agenda to discuss challenges facing global fund managers investing in China, is rare, the three sources said, and reflected Beijing's keenness to shore up confidence among foreign investors. Weighed down by strict COVID measures, China's economy grew just 3% in 2022, one of its worst showings in decades. The meeting is organized by China's fund regulator Asset Management Association of China (AMAC). U.S. dollar-denominated fundraising by China-focused venture capital and PE firms this year also had its weakest first half year in the past decade, data from industry tracker Preqin showed.

Persons: Fang Xinghai, didn't, Andrew Collier, Premier Li Qiang, Xie Yu, Julie Zhu, Selena Li, Kim Coghill Organizations: U.S ., Reuters, Canada's, Ontario, China Securities Regulatory Commission, Management Association of China, ., Orient Capital Research, Ant, Premier, Wednesday, Thomson Locations: HONG KONG, Beijing, U.S, China, Taiwan, Hong Kong

☆ Morning Bid: Banks lob earnings into giddy markets
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +4 min

But there's likely to be a scattering of the herd in terms of performance during that three months. For universal banks such as JPMorgan and Wells Fargo that serve retail consumers and firms, earnings per share are expected to have jumped more than 40% over the previous year. Overall, the U.S. earnings season is expected to show S&P500 profits down 6.4% from the same period a year earlier - with revenue down a more modest 0.8%, according to Refinitiv research. Stock markets around the world and S&P500 futures held most of their outsize weekly gains, however, and were mostly flat into the open. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, Wells, behemoths Goldman Sachs, Morgan Stanley, Christopher Waller, that's, Toby Chopra Organizations: Federal Reserve, JPMorgan, Citigroup, Bank, Export, Stock, Nasdaq, Bank of Japan, University of Michigan, European Union, Brussels Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Wells Fargo, BlackRock, China, Brussels

☆ China's dream of a smooth post-pandemic economic recovery has already turned into a nightmare
▼ + stars: | 2023-07-13 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Beijing finally curtailed three years of harsh zero-COVID lockdowns late last year, but its economy has subsequently run into significant turbulence that's sparking alarm across the world. In July 2022, the government was still taking a zero-tolerance approach to COVID-19, limiting the country's economic output. Foreign direct investment in China has also dried up, with spending from outside China dropping by $20 billion, or a sixth, year-on-year, per data from the Wall Street Journal. It's a growing list of concerns that makes grim reading for Beijing, whose dreams of a smooth revival have quickly turned nightmarish.

Persons: lockdowns, they'll Organizations: Service, country's, Wall Street, Beijing Locations: Wall, Silicon, Beijing, China

[1/4] An exterior view of the proposed site for the new China Embassy, near to Tower Bridge in London, Britain, June 23, 2023. That has led officials in Britain, which is trying to forge deeper economic ties post-Brexit, to fear it could also halt their own plans to rebuild its embassy in Beijing. Chinese officials told Reuters they suspected the British government had plotted to stop the embassy plans and orchestrated the local opposition. British officials, who declined to be identified, said they feared that London's plan to rebuild its embassy in Beijing would be affected. Residents say they are also worried about more local security issues.

Persons: Hannah McKay, Rishi Sunak, David Cameron, Xi Jinping, Michael Gove, Xi, Iain Duncan Smith, Dave Lake, Martin Quin Pollard, Kate Holton, Andrew Heavens Organizations: China Embassy, REUTERS, of, Reuters, British, Royal Mint, Conservative Party, Uyghur, Royal Mint Court Residents Association, Thomson Locations: London, Britain, Beijing London, of London, Beijing, China, Europe, Washington, United States, Hong Kong, Xinjiang, Sunak

☆ India's been touted as the new China — but here are 4 key areas where the South Asian giant is still playing catch up
▼ + stars: | 2023-07-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Some investors see India as the new China, but the South Asian economy still has to narrow a few gaps. These factors make it difficult for India to surpass China as the factory of the world. The country's potential appears brighter after its population surpassed China's, prompting many observers to tout the South Asian country as the next economy to watch. There's so much optimism about India that Goldman Sachs forecasts India's economy will surpass the US by 2075. Here are four ways India is still playing catch-up to its Asian rival, China.

Persons: Goldman Sachs, Pramit Chaudhuri, Chaudhuri, Narendra Modi's, hasn't, Eurasia Group's Chaudhuri, Ashutosh Sharma, Forrester Organizations: Service, Eurasia Group, Swiss, UBS, East, China, US International Trade Administration, Bank Locations: India, China, Wall, Silicon, South Asia, China's, Eurasia

SINGAPORE, July 11 (Reuters) - Singapore investment firm Temasek Holdings (TEM.UL) on Tuesday posted a 5.2% drop in its net portfolio value to S$382 billion ($284.65 billion) in the financial year that ended in March. The drop in net portfolio value is its first since the 2019 financial year and came amid intensified global market volatility. Over the last decade, Temasek has grown its net portfolio value by 77.7% to S$382 billion from S$215 billion in 2013. Its portfolio value hit a record high of S$403 billion in the year ending in March 2022. Most of China's tech companies share prices have rallied since Friday on the hope that strict regulations that have stymied growth for more than two years would ease.

Persons: Chin Yee, Temasek, Rohit Sipahimalani, it's, Yantoultra Ngui, Xinghui, Robert Birsel Organizations: Temasek Holdings, Ant Group, Temasek, DBS, China Construction Bank, PSA International, Mapletree Investments, Ant, People's Bank of, Thomson Locations: SINGAPORE, Singapore, China, Asia, Temasek, People's Bank of China

July 11 (Reuters) - Sapphire Ventures plans to invest over $1 billion in AI enterprise startups, doubling down on the technology's adoption by companies across the world, its president Jai Das said at the Reuters MOMENTUM conference in Austin on Tuesday. The $1 billion in capital will come from Sapphire's existing funds, which have $10 billion under management and about $3 billion waiting to the deployed. The majority will be a direct investment in AI startups, while some capital will also go to early-stage AI-focused venture funds through its limited partner fund. Over $40 billion has been invested into AI startups in the past six months, accounting for nearly a quarter of overall startup funding, according to PitchBook data. With headquarters in Austin, Texas, Sapphire has invested in AI-powered enterprise startups including Clari and DataRobot.

Persons: Jai Das, it's, Sapphire, Das, Krystal Hu, David Evans, Deepa Babington Organizations: Sapphire Ventures, Thomson Locations: Austin, Austin , Texas

☆ How Siemens and Alstom are preparing for a passenger rail boom in the U.S.
▼ + stars: | 2023-07-11 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

Once a leader in passenger rail, the U.S. has since fallen behind many industrialized nations in rail funding and ridership — but investment is picking up. Investment in passenger rolling stock across North America, which includes high-speed rail, light rail, metro, passenger coaches and locomotives, is expected to increase 4.7% per year between 2021 and 2026, according to a projection from McKinsey & Company. Aside from the government, private companies are also working on beefing up passenger rail in the country. Brightline has already built out its passenger rail service in Florida, and its sister company, Brightline West, is working on a high-speed passenger rail line between Las Vegas and Southern California. CNBC visited railcar manufacturers Siemens and Alstom to see how they are ramping up passenger train production and to learn how the companies view the future of passenger rail in the U.S. Watch the video to find out more.

Persons: Marc Buncher, Scott Sherin, We've, Brightline Organizations: Investment, McKinsey & Company, Infrastructure Investment, Jobs, Siemens Mobility North, CNBC, Alstom, Amtrak, Alstom U.S, Siemens, U.S . Locations: U.S, North America, United States, Hornell , New York, Europe, Florida, Las Vegas, Southern California

Despite talk of U.S.-China economic de-coupling, recent data show a trade relationship that is fundamentally solid, and rebounded in 2022 from five years of turmoil wrought by a trade war and COVID-19 disruptions. Two-way trade hit a record $690 billion last year as U.S. demand for Chinese consumer goods rose and Beijing's demand for U.S. farm products and energy grew. U.S.-China trade had fallen after 2018, when former President Donald Trump imposed tariffs of up to 25% on some $370 billion in Chinese imports, but began to rebound during the COVID recovery of 2021. Reuters Graphics"I think it is important that people realize that business and politics are separate," said Michael Hart, president of the American Chamber of Commerce in China. "The current state of U.S.-China trade and investment is the result of 30 to 40 years' worth of ongoing trade and investment."

Persons: Janet Yellen, Donald Trump, Michael Hart, William Reinsch, America's COVID, Wang Huiyao, Biden, Hart, David Lawder, Joe Cash, Heather Timmons, Jamie Freed Organizations: U.S, Treasury, Reuters, American Chamber of Commerce, Census, Center for Strategic, International Studies, Center for, EV, U.S . Congress, Thomson Locations: WASHINGTON, BEIJING, China, U.S, Washington, Center for China, Beijing, United States, CHINA

☆ Turkey expects $10 billion in Gulf investments after upcoming Erdogan visit, sources say
▼ + stars: | 2023-07-07 | by ( Orhan Coskun | ) www.reuters.com time to read: +2 min

ANKARA, July 7 (Reuters) - Turkey expects Gulf countries to make direct investments of about $10 billion initially in domestic assets as part of President Tayyip Erdogan's trip to the region in two weeks, according to two senior Turkish officials. Direct investments worth about $10 billion "should come within a short time and this is crucial," said one of the officials. "Expectations are high for the Gulf visit. Reuters reported after the visit that Turkey came away expecting direct investments soon. The official said the expected investments from Gulf states would "show confidence in the Turkish economy since it would be direct investments, which is extremely important."

Persons: Tayyip Erdogan's, Erdogan, Abu Dhabi, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Yilmaz, Jonathan Spicer, Ros Russell Organizations: Turkish, United Arab Emirates, Reuters, Thomson Locations: ANKARA, Turkey, Saudi Arabia, Qatar, Riyadh, Doha, Abu, Ankara, UAE, Nahyan, Turkish

☆ Southeast Asia's IPO market is an investor favorite amid global headwinds, Deloitte says
▼ + stars: | 2023-07-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Firdaus Wajidi | Anadolu Agency | Getty ImagesSoutheast Asia's initial public offering market is showing promising signs despite a global IPO slowdown in the first half of 2023, according to a new Deloitte report. In the last six months, Southeast Asia's market saw 85 IPOs raising $3.3 billion in proceeds, versus the 73 IPOs in the same period last year which raised $3.1 billion. That's a 16% increase in the number of IPOs and a 5% increase in proceeds for the first half of 2023. Indonesia's rising starIndonesia raised 70% of the total IPO proceeds in Southeast Asia for the first half of 2023. Indonesia "looks set to have its best year ever in terms of listing proceeds with 44 IPOs in 2023 H1," said Deloitte.

Persons: Firdaus, — GoTo, Joko Widodo, Harita Nickel Organizations: Anadolu Agency, Getty, Deloitte, Nasdaq, EV, PT Merdeka Battery Materials, Pertamina Geothermal, Indonesia, Harita Locations: JAKARTA, INDONESIA, Jakarta, Indonesia, Southeast Asia, Australia, Thailand, Malaysia, China

☆ Exclusive: With UK health service in crisis, Tesco gives staff virtual doctors appointments
▼ + stars: | 2023-07-06 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A customer talks to an in store fishmonger at a Tesco supermarket near Liverpool, Britain, January 28, 2019. REUTERS/ Phil NobleLONDON, July 6 (Reuters) - Supermarket group Tesco (TSCO.L), Britain's largest private-sector employer, is to offer its staff virtual appointments with a private family doctor, in another indication of the pressures engulfing the country's National Health Service (NHS). The NHS, which celebrated its 75th anniversary on Wednesday, was launched after World War Two to provide health care free at the point of use, and remains a much-loved institution. "This is a direct investment in the health of our colleagues," Tesco's UK people director, James Goodman, said. Tesco, like other big employers and retailers, has previously provided more traditional benefits to staff, such as share schemes and staff discounts, and last year started offering advances on pay.

Persons: Phil Noble LONDON, YuLife, Booker, James Goodman, James Davey, Kate Holton, David Holmes Organizations: Tesco, REUTERS, National Health Service, Reuters, Health, Workers, Tesco Bank, Thomson Locations: Liverpool, Britain, England

☆ Battling Brexit, some British firms turn to invest in Europe
▼ + stars: | 2023-07-05 | by ( Andy Bruce | ) www.reuters.com time to read: +8 min

German data show British firms opened 170 foreign direct investment projects in Europe's biggest economy last year as companies sought a foothold in the bloc's single market. That's a far cry from the 50 enquiries from British firms - rather than projects committed - recorded by German Trade & Invest in 2015, the year before the Brexit referendum. Pro-Brexit economists say such data ignore the fact British corporate investment boomed in the years before mid-2016, and it was bound to slow. British firms are also waiting to hear how - or even if - London intends to compete with the enormous green energy and tech subsidies pitched by the United States and EU. At Farrat, the effects of Brexit are insidious, running beyond decisions over investments, said Farrell, describing a sense of unease felt towards British firms from potential foreign clients, worn down by years of political turmoil"People are nervous.

Persons: Brexit, Oliver Farrell, Andy Burnham, Burnham, it's, capitalising, Steve Connor, Connor, Jeremy Hunt, Farrell, Dave, Subrah Krishnan Harihara, Andy Bruce, William Schomberg, David Clarke Organizations: European Union, Reuters, German Trade, Invest, Organisation for Economic Co, Development, Reuters Graphics, Labour Party, EU, Creative Concern, European Commission, Manchester Chambers of Commerce, Thomson Locations: MANCHESTER, England, Britain, Manchester, Germany, English, Europe's, Netherlands, France, United States, England's, London, Birmingham, Greater Manchester, Farrat, EU, Warwick, West Midlands

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