Author: admin

Poland has expressed its intent to reinvest locally generated incomes and resources in Pakistan, aiming to expand its over $100 million investment in the country’s oil and gas exploration sector, as the two sides explore deeper trade and economic cooperation. The development came during a meeting between Maciej Pisarski, the Ambassador of Poland to Pakistan, with the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division on Monday. During the meeting, both sides discussed matters of mutual interest with a focus on strengthening bilateral relations, expanding trade and investment ties, and identifying new avenues for collaborations…

Contemporary Amperex Technology (CATL) surged in Hong Kong on Monday after JPMorgan Chase upgraded the stock, which extended a rebound for Chinese battery makers and inflated the premium of its Hong Kong shares over those that trade in Shenzhen.The US bank also predicted stronger demand for CATL’s energy storage systems. CATL’s Hong Kong shares ended the trading day 7.4 per cent higher at HK$465, the highest since its May listing, while its Shenzhen-listed shares closed 9.1 per cent higher at 354.70 yuan.The stock’s strength in both markets reflected renewed confidence in China’s energy storage sector and put its Hong Kong…

Contemporary Amperex Technology (CATL) surged in Hong Kong on Monday after JPMorgan Chase upgraded the stock, which extended a rebound for Chinese battery makers and inflated the premium of its Hong Kong shares over those that trade in Shenzhen.The US bank also predicted stronger demand for CATL’s energy storage systems. CATL’s Hong Kong shares ended the trading day 7.4 per cent higher at HK$465, the highest since its May listing, while its Shenzhen-listed shares closed 9.1 per cent higher at 354.70 yuan.The stock’s strength in both markets reflected renewed confidence in China’s energy storage sector and put its Hong Kong…

Coup rumours swirled in the Philippine capital over the weekend, with the military placed on “red alert” and all leave for its personnel cancelled, ahead of planned protests against corruption in state-funded flood control projects.Sources close to and within the military confirmed to This Week in Asia that certain private individuals, former generals and groups were trying to persuade active-duty officers to withdraw their support for Commander-in-Chief and President Ferdinand Marcos Jnr.Defence Secretary Gilberto Teodoro Jnr and Armed Forces of the Philippines chief of staff General Romeo Brawner Jnr issued a joint statement on Saturday espousing “national unity and upholding…

China has launched an anti-dumping investigation into analogue integrated circuit (IC) chips imported from the United States, saying they have “lowered and suppressed” the prices of domestic alternatives.The probe, requested by a provincial semiconductor association, was announced on Saturday, a day after Washington introduced its latest tech curbs on Chinese companies – and a day before the two economic powers began their fourth round of trade talks in Spain on Sunday.In this explainer, the Post examines what you need to know about the investigation.What kind of chips and companies are affected?The probe, which will last a year, targets general-purpose interface…

Xpeng, part owned by Volkswagen Group, has begun production in Europe in partnership with a contract manufacturer in Austria, as mainland Chinese electric vehicle (EV) makers make inroads into the continent and circumvent punitive tariffs.The Guangzhou-based carmaker said on Monday that it had started assembling the G6 and G9 SUVs at Magna Steyr’s plant in Graz. Xpeng did not elaborate on its planned output, but added that cooperation with its partner would deepen over time.“[The roll-out] marked a milestone in Xpeng’s globalisation strategy,” the company said. “More Xpeng models will be assembled in the factory.”Manufacturing locally will exempt Xpeng from…

Xpeng, part owned by Volkswagen Group, has begun production in Europe in partnership with a contract manufacturer in Austria, as mainland Chinese electric vehicle (EV) makers make inroads into the continent and circumvent punitive tariffs.The Guangzhou-based carmaker said on Monday that it had started assembling the G6 and G9 SUVs at Magna Steyr’s plant in Graz. Xpeng did not elaborate on its planned output, but added that cooperation with its partner would deepen over time.“[The roll-out] marked a milestone in Xpeng’s globalisation strategy,” the company said. “More Xpeng models will be assembled in the factory.”Manufacturing locally will exempt Xpeng from…

LONDON (AP) — Britain’s government said Monday it has summoned the Russian ambassador in London following Moscow’s “unprecedented violation” of NATO airspace.The Foreign Office called the incursions into Polish and Romanian airspace in recent days “unacceptable” and summoned Andrei Kelin, the Russian ambassador.Significant and unprecedented violation of Polish and NATO airspace by Russian drones last week, followed by a further incursion into Romanian airspace on Saturday, was utterly unacceptable,” the ministry said in a statement. “Russia should understand that its continued aggression only strengthens the unity between NATO allies and our determination to stand with Ukraine, and any further incursions…

KARACHI: The Pakistani currency has slowly and gradually appreciated by a cumulative 0.4% (or Rs1.12) in the past 26 consecutive working days. It hit a three-month high on Friday (September 12), closing at Rs281.55 against the US dollar, partially recovering from a 19 month low of Rs284.97/$ in mid-July. Businesses are curious where the rupee will go from here, amid nationwide floods that have wiped out a significant part of standing crops and hurt the economy, which had started to stabilize over the past two years. Financial experts at treasury firm Trasemark, Topline Research and Icon Management say the recent…

South Korea’s Foreign Minister Cho Hyun will visit China on Wednesday and Thursday amid the prospect of China’s president visiting Seoul next month and the expected appointment of a new South Korean ambassador to Beijing.Cho will meet Chinese Foreign Minister Wang Yi to discuss various plans, including Chinese President Xi Jinping’s visit to South Korea for the Asia-Pacific Economic Cooperation (Apec) leaders’ summit on October 31 and November 1, according to a report by Reuters, which cited a statement from the South Korean Ministry of Foreign Affairs.China’s foreign ministry confirmed Cho’s visit on Wednesday, but stopped short of giving details…