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Xi meets Russia's Putin on a state visit to China that's a show of unity between the allies

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  • Singapore bank OCBC tightens scrutiny on international clients

    OCBC, Singapore’s second-largest lender, told some international clients to show proof of residence in the city state to avoid having their accounts shut, a signal of heightened scrutiny in the wake of a spate of money-laundering cases.

  • Russia teams up with BRICS to create AI alliance, Putin says

    MOSCOW (Reuters) -President Vladimir Putin said on Wednesday that Russia would develop artificial intelligence with BRICS partners and other countries, in a bid to challenge the dominance of the United States in one of the most promising and crucial technologies of the 21st century. Speaking at Russia's flagship AI conference, Putin said the new AI Alliance Network would include national associations and development institutions in the field of AI from BRICS countries and other interested states.

  • Three Stocks That Might Be Trading Below Their Estimated Value

    In a week marked by mixed performances across major global indices, growth stocks have outpaced their value counterparts significantly, highlighting the diverse sectoral movements within the market. As investors navigate these fluctuating conditions, identifying stocks that might be trading below their estimated value could present opportunities for those seeking to balance potential risks with rewards. Understanding what makes a stock potentially undervalued involves examining factors such...

  • Ferrari will always make its cars in Italy, CEO says

    NEW YORK (Reuters) -Ferrari will always make its luxury sports car in its hometown of Maranello, northern Italy, including its first fully electric model expected next year, Chief Executive Benedetto Vigna said on Tuesday. And this will not change, despite new tariffs potentially being introduced on international markets, including the U.S. following the election of Donald Trump as president. "We make cars in Maranello," Vigna said at the Reuters NEXT conference in New York, replying to a question if Ferrari would ever consider manufacturing cars in the U.S.

  • Airline pilots, crews voice concerns about Middle East routes

    STORY: The Middle East is a key air corridor for planes heading to India, South-East Asia and Australia.But with recent instability, the safety debate about flying over the region is playing out.Concerns are being raised in Europe particularly, because pilots there are protected by unions, unlike other parts of the world.Reuters spoke to four pilots, three cabin crew members, three flight security experts and two airline executives about growing safety concerns in the European air industry.Reuters also reviewed nine unpublished letters from unions representing pilots and crews.They expressed worries about air safety over Middle Eastern countries.The letters were sent to multiple airlines, the European Commission and the European Union Aviation Safety Agency in the summer.In late September, an experienced pilot at Wizz Air felt anxious after learning his plane would fly over Iraq at night amid mounting tensions between nearby Iran and Israel.He decided to query the decision since just a week earlier the airline had deemed the route unsafe. According to the pilot, Wizz Air's flight operations team told him the airway was now considered secure and he had to fly it.Days later, Iraq closed its airspace when Iran fired missiles on October 1st at Israel. In response to Reuters' queries, Wizz Air said safety is its top priority and it had carried out detailed risk assessments before resuming flights over Iraq and other Middle Eastern countries.In other letters, staff called on airlines to be more transparent about their decisions on routes.The ongoing tensions between Israel and Iran and the abrupt ousting of President Bashar al-Assad by Syrian rebels at the weekend have raised concerns of further insecurity in the region.Some European airlines including Lufthansa and KLM allow crew to opt-out of routes they don't feel are safe.But others such as Wizz Air, Ryanair and airBaltic don't.AirBaltic said the airline meets an international safety standard that doesn't need to be adjusted.Ryanair, which intermittently flew to Jordan and Israel until September, said it makes security decisions based on EASA guidance.Passenger rights groups are also asking for travelers to receive more information.

  • China's semiconductor firms cash in chips as export boom bucks overall trend

    Despite intensifying restrictions from the US intended to stifle China's semiconductor trade, Beijing's shipments of the bedrock technology stood out as a rare bright spot in a recent export data release. China's integrated circuit exports hit a record US$144.7 billion in value for the first 11 months of 2024, growing 18.8 per cent year on year according to customs data released on Tuesday. In addition to rising global demand and the rapid development of AI, the scale of manufacturing for China'

  • Oil Futures Extend Winning Streak

    Oil futures gain for a third straight session, supported by Middle East risk premium, anticipation that stimulus measures will improve China's economic performance and U.S. inflation data for November that kept alive expectations the Fed will cut interest rates again next week.

  • Chip war: China's semiconductor imports expand ahead of tightened US restrictions

    China's semiconductor imports continued to expand this year, as mainland enterprises rushed to stockpile integrated circuits (ICs) from US suppliers ahead of the roll-out of fresh trade sanctions by Washington. From January to November, China imported a total of 501.47 billion ICs, a 14.8 per cent jump in volume from the same period last year, according to data published on Tuesday by the General Administration of Customs. The total value of IC imports recorded by the mainland in the past 11 mon

  • Rosneft, Reliance agree biggest ever India-Russia oil supply deal, sources say

    NEW DELHI/MOSCOW (Reuters) -Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine. Rosneft did not reply to requests for comments.

  • Gulf financiers bet on 35% returns from Chinese assets on stimulus expectations

    Gulf financiers expect investments in China to return up to 35 per cent next year based on bets that Beijing will implement additional stimulus measures, according to speakers at a summit in the United Arab Emirates (UAE). "Our portfolio companies are growing, and we're pushing our way into Asia, and we are very encouraged by the growth prospects in Asia," Karim El Solh, co-founder and CEO of Gulf Capital, said on Tuesday during a panel discussion at the China-UAE summit taking place during Abu

  • Geely's Farizon partners with Jameel Motors to break into UK EV market

    The Farizon SV large van will lead the brand's UK debut, with sales set to begin in the first half of 2025. Jameel Motors, owned by Saudi Arabia's Abdul Latif Jameel Group, will manage the distribution of the vehicles in the UK.

  • Stellantis, China's CATL to invest $4.33 bln in EV battery factory in Spain

    STORY: A major new factory for building electric vehicle batteries is coming to northern Spain.That was the announcement from auto giant Stellantis and Chinese battery maker CATL Tuesday (Dec 10).The firms said they will invest $4.33 billion in the facility in Zaragoza.They added the 50-50 joint venture is expected to start production by the end of 2026.Europe wants to attract EV battery makers to build factories in the region.It is trying to cut reliance on Asia and win a green subsidies race with the U.S.The decision to award the factory to Spain comes after it abstained on imposing additional tariffs on Chinese EV imports to the EU.Prime Minister Pedro Sanchez urged the EU to reconsider penalizing Chinese-made EVs to avoid a trade war.He also met CATL CEO Robin Zeng this week. Chinese companies have to seek approval from Beijing for direct investments overseas.Reuters reported in October that China has privately told automakers to halt big investments in European countries that support imposing extra tariffs.Spain is Europe's second-largest car producer.In 2020, it announced a 5-billion-euro plan to attract EV and battery production using EU pandemic relief funds.

  • Oil settles up $1 as EU agrees further sanctions threatening Russian oil flows

    (Reuters) -Oil prices settled more than $1 higher on Wednesday after the European Union agreed to an additional round of sanctions threatening Russian oil flows that could tighten global crude supplies. European Union ambassadors agreed on Wednesday to a 15th package of sanctions on Russia over its war against Ukraine, the Hungarian EU presidency said. "I welcome the adoption of our 15th package of sanctions, targeting in particular Russia's shadow fleet", European Commission President Ursula von der Leyen said on X.

  • China's CATL to build US$4.3 billion EV battery plant in Spain with Fiat owner Stellantis

    China's Contemporary Amperex Technology (CATL), the largest maker of batteries for electric vehicles (EVs), is building its third plant in Europe through a joint venture with Fiat owner Stellantis, stepping up its overseas expansion to overcome higher tariffs. The parties have agreed to spend €4.1 billion (US$4.3 billion) to build the factory in Zaragoza in northeastern Spain with a capacity to produce 50 gigawatt-hours (GWh) of batteries annually, according to a statement. One GWh can supply to

  • Alphabet stock pops on Google's new quantum chip

    Alphabet's (GOOG, GOOGL) shares gain after Google unveiled a new quantum computing chip called Willow. The company says the chip is state-of-the-art and represents significant gains in the quantum computing space. Morning Brief Hosts Seana Smith and Brad Smith outline what investors need to know. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Naomi Buchanan.

  • Three Top Dividend Stocks For Reliable Income

    As global markets navigate a landscape marked by mixed performances across major indices and geopolitical developments, investors are keenly observing the shifting dynamics between growth and value stocks. Amidst this backdrop, dividend stocks stand out as potential sources of reliable income, offering stability through regular payouts even when market conditions fluctuate.

  • Top Dividend Stocks To Consider In December 2024

    As global markets navigate a landscape of mixed economic signals, with major U.S. indices reaching record highs and geopolitical tensions in Europe, investors are keenly focused on the implications for their portfolios. Amidst this backdrop, dividend stocks present an attractive option for those seeking steady income and potential growth, especially as sectors like consumer discretionary and information technology show robust performance while traditional value segments face challenges.

  • Maersk sees global container volumes rising as much as 7% in 2025, exec says

    Maersk expects global container market volume rising as much as 7% next year, bolstered by strong demand from the United States where a potential port strike and tariffs on foreign-made goods loom, an executive at the global carrier said on Wednesday. "We predict anywhere between 5 and 7% (growth) overall," Charles van der Steene, regional president for North America at Maersk, told Reuters. Houthi attacks on vessels in the Red Sea and "resilient" demand from U.S. companies will continue to spur consumption of containers, he said.

  • High Growth Tech Stocks To Watch In December 2024

    As global markets witness a divergence in major indexes, with growth stocks leading the charge and small-cap indices like the Russell 2000 experiencing a decline, investors are keenly observing how economic indicators such as job growth and Federal Reserve policy might influence market dynamics. In this environment, identifying high-growth tech stocks involves looking for companies that not only demonstrate strong innovation and adaptability but also align well with sectors currently...

  • China's CATL forms joint venture with Stellantis to build electric vehicle battery factory in Spain

    Chinese electric battery company CATL and automaker Stellantis will build a major battery factory in northern Spain, the partners announced Tuesday. The plant plans to be carbon neutral, apparently by making use of Spain's ample supplies of solar, wind and water power. The announcement comes after CATL and Stellantis agreed in November 2023 to collaborate on fabrication of batteries to help build electric cars in Europe.