The Treasury Department is preparing a new program that could prohibit U.S. investment in certain sectors of adversarial nations, the Wall Street Journal reported on Friday citing copies of reports provided to lawmakers on Capitol Hill viewed by the newspaper. The Biden administration’s work on the new rules would in practice largely deal with […]
Italy wants to team up with France and Germany to “influence” and slow the pace of European Union laws on cutting car and truck emissions, Industry Minister Adolfo Urso said on Saturday. Prime Minister Giorgia Meloni’s right-wing government has already come out strongly against the bloc’s decision to outlaw the sale of new petrol […]
Sony Group Corp’s semiconductor division will likely see a limited impact from chip export curbs to China by the United States, Japan and the Netherlands, Sony Semiconductor Solutions Chief Executive Terushi Shimizu said on Thursday. Sony is the world’s largest maker of image sensors widely used in smartphones and autos. Its competitors include South […]
China’s foreign ministry said that Beijing is ready to work with Belgium to develop their bilateral relations. China hopes that Belgium will continue to provide a fair and non-discriminatory business environment for Chinese companies, the ministry said in a statement issued on Friday. Chinese Foreign Minister Qin Gang said in a telephone call […]
Electric carmaker Tesla Inc is considering setting up an assembly plant near a new Mexico City airport, which would serve as an export hub for the firm, Mexican presidential spokesman Jesus Ramirez said. Ramirez said that Tesla could put a plant at an industrial park in development about 3 kilometers (2 miles) from the […]
Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned. “We intend to overcome the barriers to our exchanges, simplify and modernize the rules and encourage the use of local […]
India will seek an easing of European Union steel import quotas and tarrifs in talks for a new trade deal as Indian steelmakers struggle to sell the alloy in one of world’s big markets, a senior government official said. Last year, India and the EU relaunched negotiations for a free trade agreement with the […]
China’s central bank will step up support for private firms as part of steps to shore up the economy, while easing a crackdown on tech companies, Guo Shuqing, Communist party chief of the People’s Bank of China, was quoted by state media as saying. Monetary policy in 2023 will focus on expanding demand, especially […]
U.S. oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this year by oil companies benefiting from high energy prices have boosted inflation around the […]
German companies want to boost their activities in Africa next year, especially in areas such as green hydrogen and liquefied natural gas, with 43% planning to increase investment in the continent, a survey seen by Reuters on Tuesday showed. The poll of members of the German-African Business Association also showed that a further 39% […]