Latest news with #USCompanies
Bloomberg
2 days ago
- Business
- Bloomberg
Nvidia CEO Warns That Chinese AI Rivals Have Become ‘Formidable'
Nvidia Corp. Chief Executive Officer Jensen Huang said that Chinese AI rivals are filling the void left by the departure of US companies from that market, and their technology is becoming more powerful. 'The Chinese competitors have evolved,' he said Wednesday in an interview with Bloomberg Television. Huawei Technologies Co., a Chinese tech company blacklisted by the US government, has become 'quite formidable,' he said.
LBCI
4 days ago
- Business
- LBCI
Iraq sues Kurdistan region over gas contracts with US firms
Iraq's federal authorities have filed a complaint against the autonomous Kurdistan region for signing gas contracts with two U.S. companies, two officials told AFP on Tuesday. The two agreements, worth tens of billions of dollars, were signed on May 19 in Washington. An Iraqi government official told AFP that a lawsuit had been filed before Baghdad's Al-Karkh commercial court, while a Kurdish official said the complaint called for the "cancellation of the contracts." AFP
Al Arabiya
4 days ago
- Business
- Al Arabiya
Iraq sues Kurdistan region over gas contracts with US firms: Official
Iraq's federal authorities have filed a complaint against the autonomous Kurdistan region for signing gas contracts with two US companies, two officials told AFP on Tuesday. The two agreements, worth tens of billions of dollars, were signed on May 19 in Washington. An Iraqi government official told AFP that a lawsuit had been filed before Baghdad's Al-Karkh commercial court, while a Kurdish official said the complaint called for the 'cancellation of the contracts.'
Bloomberg
23-05-2025
- Business
- Bloomberg
Trump Threatens EU, Smartphones as Tariff Rhetoric Escalates
President Donald Trump dug in on his threat to impose a 50% tariff on the European Union and said a potential 25% charge on smartphones would apply to all foreign-made devices, in the latest escalation of a trade war that is rattling markets and confusing businesses. Trump on Friday reiterated his complaints about the EU, accusing the bloc of slow-walking negotiations and unfairly targeting US companies with lawsuits and regulations. The president downplayed the ability of the EU to avoid a higher tariff rate, which he said would hit June 1. 'We've set the deal. It's at 50%,' he said.
Arab News
23-05-2025
- Business
- Arab News
Pakistan to offer US firms concessions on mining investment in tariff talks, says minister
ISLAMABAD: Pakistan plans to offer concessions to US companies to invest in its mining sector as part of negotiations with Washington over tariffs, its commerce minister told Reuters, as Islamabad seeks to capitalize on the Trump administration's interest in boosting trade with South Asia. Pakistan faces a potential 29 percent tariff on exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Tariffs were subsequently suspended for 90 days so negotiations could take place. Pakistan's Commerce Minister Jam Kamal said that Islamabad will offer US businesses opportunities to invest in mining projects primarily in Pakistan's Balochistan province through joint ventures with local companies, providing concessions like lease grants. The minister said that would be in addition to efforts to increase imports from the United States, particularly cotton and edible oils, which are currently in short supply in Pakistan. Pakistan would put its offer of concessions for mining investment to US officials during talks over tariffs in the coming weeks. Kamal did not give further information on the bidding process of these mines or other details. 'There is untapped potential for US companies in Pakistan, from mining machinery to hydrocarbon ventures,' he said in an interview with Reuters conducted on Thursday. Pakistan's Reko Diq copper and gold mining project in Balochistan seeks up to $2 billion in financing, including $500 million to $1 billion from the US Export-Import Bank, with term sheets expected by early in the third quarter of this year, its project director told Reuters last month. The mine could generate $70 billion in free cash flow and $90 billion in operating cash flow over its lifespan. US President Donald Trump has said that he's working on 'big deals' with both India and Pakistan, following Washington's key role in brokering a ceasefire between Pakistan and India earlier this month following the worst fighting in decades between the nuclear-armed neighbors. 'The previous US administration focused more on India, but Pakistan is now being recognized as a serious trade partner,' Kamal said. Pakistan will gradually lower tariffs in its upcoming federal budget, Kamal said. He said that the United States has not specified trade barriers or priority sectors. The US Embassy in Islamabad did not immediately respond to a request for comment.
