Latest news with #USInvestment
Zawya
28-05-2025
- Business
- Zawya
Asian shares, U.S. dollar climb on rosy data, tech optimism
TOKYO: Asian shares continued a rally from Wall Street and the dollar held gains on Wednesday on promising economic signs in the United States and speculation of strong tech earnings. Markets welcomed what appeared to be easing trade frictions between the U.S. and Europe while global bond markets settled down after a scary surge in long-term yields. U.S. consumer confidence surprised on the upside ahead of closely watched jobs figures on Thursday. Nvidia jumped more than 4% yesterday and will be the last of the Magnificent 7 tech giants to report earnings after markets close in the U.S. "There is renewed confidence that Nvidia can beat the consensus estimates," said Chris Weston, head of research at Pepperstone. If Nvidia comes through with better-than-expected sales and profit margins "the rally is on," he added. The chipmaker is expected to report that first-quarter revenue surged 66.2% to $43.28 billion, according to data compiled by LSEG. In signs of a thaw between the U.S. and Europe, European Union officials have asked companies for details of their U.S. investment plans, according to two sources familiar with the matter. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% in morning trading while Japan's Nikkei advanced 0.6%, climbing a fourth straight session. The dollar index, which tracks the greenback against a basket of currencies, rose 0.1%, adding to Tuesday's 0.6% rally. The greenback advanced 0.1% to $1.132 against the euro . Australian shares were up 0.17%, but the nation's currency slid 0.2% after April consumer price data came in above expectations. The kiwi dollar slid 0.3% after the Reserve Bank of New Zealand cut rates as expected. Japanese bonds slid, trimming a surge yesterday, ahead of a 40-year auction and on speculation the Ministry of Finance will reduce the issuance of long-dated securities. Oil prices ticked up in early trading as the U.S. barred Chevron CVX.N from exporting crude from Venezuela under a new authorization on its assets there, raising the prospect of tighter supply. Brent crude futures rose 0.4% to $64.37 a barrel, while U.S. Spot gold rallied 0.1% after dropping more than 1% on Tuesday.
News24
21-05-2025
- Business
- News24
Ramaphosa at White House; Budget 3.0: Today's top 7 stories in 7 minutes
Today's top 7 stories in 7 minutes. News24 brings you the top stories of the day, summarised into neat little packages. Read through quickly or listen to the articles via our customised text-to-speech feature. Baba Jiyane/GCIS White House showdown: Ramaphosa's 'inadvertent' training A South African delegation is in Washington, DC, to negotiate trade incentives with the US, aiming to avoid a return to high tariffs. South Africa will focus on correcting misinformation about the country and presenting a package of incentives, leveraging its mineral resources to attract US investment. Despite past tensions, South Africa hopes to establish a new mutually beneficial bilateral trade framework with the US, potentially replacing or modifying AGOA. Elon Musk's 'friend in South Africa' claims: Falsehoods, stereotypes, misinformation Elon Musk shared unsubstantiated claims about South Africa on X, including allegations of widespread corruption and societal collapse. The claims, presented as anecdotes from a "friend', include assertions about crime rates, traffic light functionality, economic disparities, and inflated hospital costs. These claims are largely false, exaggerated, or unverifiable, and contribute to a pattern of misleading and racially charged narratives. Bodies of Polish couple pulled from the water at the Royal Cape Yacht Club The bodies of an elderly Polish couple were found in the water at the Royal Cape Yacht Club in Cape Town. Police divers retrieved the bodies, and an inquest docket has been opened to investigate the circumstances. Foul play is not suspected at this stage, and a post-mortem will be conducted to confirm the cause of death. Jason Felix/News24 Budget 3.0 | All eyes on SARS as fuel levy rises, tax brackets unchanged, new zero-rated list withdrawn The government plans to raise R18 billion in additional revenue, offsetting the loss from not implementing VAT through measures like increasing the fuel levy and withdrawing zero-rated items. Additional revenue will be generated by not adjusting tax brackets for inflation, increasing excise duties, and potentially through SARS' enhanced debt collection efforts, aiming to recover R20 billion annually. SARS has been allocated an additional R4 billion to improve debt collection, with plans to hire more debt collectors and intensify efforts to recover a portion of the estimated R800 billion in under-collected taxes. READ MORE Big Easy and The Goose: From SA golfing icons to influential White House delegates Ernie Els and Retief Goosen will join President Cyril Ramaphosa's delegation to meet US President Donald Trump at the White House. The meeting will cover topics like BEE laws, discrimination allegations, trade deals, and policies concerning Afrikaner refugees. Johann Rupert and Elon Musk will also be present, with Musk representing Trump's team. Gordon Arons/Gallo Images Van der Linde exit feels a little like the Bulls throwing the baby out with (Bath) water Bernard van der Linde impressed in a recent game against the Dragons, showcasing his abilities after limited opportunities with the Bulls. Despite his performance, Van der Linde is moving to Bath next season due to the competition for the scrumhalf position at the Bulls. Van der Linde seeks more game time and happiness in his career, feeling he hasn't had enough chances to demonstrate his skills at the Bulls. The most diesel bakkie brand now has an EV double-cab Isuzu, known for its diesel engines and bakkies, is launching the D-Max Electric Vehicle in select global markets in early 2026. The D-Max EV features a 66.9kWh battery, dual electric motors producing 140kW/325Nm, and retains a good load capacity of 1 100kg and towing capacity of 3 500kg. While offering comparable power and improved off-road geometry, the D-Max EV has a real-world driving range of 360km, and there's no confirmation yet on South African availability or local production.
Bloomberg
15-05-2025
- Business
- Bloomberg
Qatar's Wealth Fund Plans $500 Billion US Push Over Next Decade
During his first 15 years at Qatar Investment Authority, Mohammed Al Sowaidi helped establish its US presence and scout opportunities. Now, as head of the $524 billion state-backed entity, he's pledging to invest an amount nearly equal to the fund's current size, as part of a major commitment by the Gulf nation. QIA plans to invest an additional $500 billion in the US over the next decade, Al Sowaidi said in an interview in Doha. The sweeping new outlays will target areas traditionally favored by the fund — such as artificial intelligence, data centers and health care — while also aligning with President Donald Trump's agenda to reindustrialize the US, he said.
Free Malaysia Today
13-05-2025
- Business
- Free Malaysia Today
S. Arabia invest big in US weapons, AI as Trump basks in welcome
President Donald Trump speaks at the Saudi-US investment forum at the King Abdul Aziz International Conference Center in Riyadh. (AP pic) RIYADH : Saudi Arabia on Tuesday promised billions of dollars in deals with the US from defence to artificial intelligence as it threw a lavish welcome for President Donald Trump on the first state visit of his second term. Trump returned the favour by lavishing praise on the kingdom's crown prince and moving on a key Saudi policy request by announcing a lifting of sanctions on Syria. The Saudis escorted Air Force One into the kingdom with fighter jets before bringing out long-stretching guards of honour and sending flag-waving cavalry to accompany Trump's motorcade to the palace. Under imposing chandeliers, Trump welcomed a promise by Crown Prince Mohammed bin Salman, who effectively rules the kingdom due to King Salman's frail health, for US$600 billion in investment and quipped that it should be US$1 trillion. 'We have the biggest business leaders in the world here today and they're going to walk away with a lot of cheques,' Trump told the prince. For 'the US, it's probably two million jobs that we're talking about,' Trump said. The White House said that Saudi Arabia would buy nearly US$142 billion in weapons in what it described as the largest-ever weapons deal, although Trump in his first term trumpeted a larger, longer-term figure. The White House said that Saudi company DataVolt will invest US$20 billion in artificial intelligence-related sites in the US, while tech firms including Google will invest in both countries – welcome news for Saudi Arabia which has faced restrictions on US advanced technology. The US leader will also visit Qatar and the United Arab Emirates, fellow oil-rich Arab monarchies with long-standing ties to the US – and to Trump. In choosing Saudi Arabia for his first state visit, as he did in his previous term, the 78-year-old billionaire was again bypassing traditional presidential stops among Western allies, some of which have been unnerved by his norms-shattering diplomacy. Saudis seek image change Trump's embrace of the Saudis contrasts with a more hesitant initial approach by former president Joe Biden, who had vowed to punish the crown prince after US intelligence found that he ordered the murder of dissident Saudi journalist Jamal Khashoggi in 2018. Since Khashoggi's gruesome killing, the crown prince has worked aggressively to change Saudi Arabia's image, from easing restrictions on women to diversifying from oil to new areas such as artificial intelligence. 'Saudi Arabia has proved the critics totally wrong,' Trump said at an investment forum as the crown prince, at his constant side throughout the day, beamed. Complimenting the gleaming skyscrapers in the desert capital, Trump said: 'The transformation that has occurred under the leadership of King Salman and Crown Prince Mohammed has been truly extraordinary.' 'I've never seen anything at that scale happen before,' he said. Trump announced, in response to appeals from the crown prince and Turkey but breaking with ally Israel, that he would ease US sanctions on Syria, ruled by Islamists since the toppling of the iron-fisted Bashar al-Assad in December. An ultimate prize, pushed both by Trump and Biden, has been to persuade Saudi Arabia, home of Islam's holiest sites, to take the landmark step of recognising Israel. Trump called normalisation with Israel 'my fervent hope and wish, and even my dream'. 'You'll do it in your own time, and that's what I want, that's what you want,' he said. Saudi Arabia has said it cannot follow the United Arab Emirates, Bahrain and Morocco, which all normalised relations with Israel during Trump's first term, without the establishment of a Palestinian state. As Trump was in the region, Israeli Prime Minister Benjamin Netanyahu vowed that the army would enter Gaza again 'with full force' against Hamas militants, more than two months after Israel cut off all food and other supplies. The US, which has quietly been frustrated with Israel, negotiated directly with Hamas to secure the release of a hostage with US citizenship, Edan Alexander, to whom Trump spoke by telephone Tuesday. Lavish plane Trump heads on Wednesday to Qatar, which has offered a luxury Boeing aircraft for Trump to refurbish as Air Force One and then keep after he leaves the White House. Trump's Democratic rivals have called the gift blatant corruption. Trump has hit back that the deal was 'very public and transparent'. Jon Alterman, senior vice president at the Center for Strategic and International Studies, said that for Trump, the Gulf 'is his happy place'. The leaders will 'flatter him and not criticise him. And they'll treat his family members as past and future business partners,' he said.
Al Arabiya
13-05-2025
- Business
- Al Arabiya
Trump lands in Saudi Arabia: Deals, diplomacy and a strategic first stop
In this episode of W News, presented by Leigh-Ann Gerrans, we will get an exclusive look at President Trump's high-stakes visit to Saudi Arabia, marking the first international trip of his second term and setting the stage for impactful economic diplomacy. The special report covers his arrival at King Khalid International Airport where he is greeted by Crown Prince Mohammed bin Salman, followed by a series of meticulously orchestrated events in Riyadh—from a brief yet opulent coffee ceremony and bilateral meetings in the lavish Royal Court to a pivotal state dinner at a grand hotel ballroom. In addition, the program will take you inside the US and Saudi investment forum at the King Abdulaziz International Conference Center, showcasing the latest ventures and deals that underline the President's commitment to expanding American business interests abroad.
