Biden Signs $53 Billion Semiconductor Bill Into Law

Biden Signs $53 Billion Semiconductor Bill Into Law

Biden on Tuesday signed the landmark U.S. bill to provide $52.7 billion subsidies for U.S. semiconductor industry and to boost U.S. competitiveness with China’s efforts of science and technology development. Biden called the measure as a once in a generation investment, adding that “The future is going to be made in America,” While Biden hailed the bill as a catalyzer for investments the chip companies would get, it remains unclear when the Commerce Department will unveil rules for reviewing…

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#china #chipshortage #CHIPSAct #JoeBiden #semiconductor #UnitedStates

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China Opens Investigation Into $3 Trillion Trust Industry

China Opens Investigation Into $3 Trillion Trust Industry

China’s top auditor, the National Audit Office, has started conducting an investigation into the nation’s $3 trillion trust industry in the wake of growing losses incurred due to property loans. The trust industry has been a key part of China’s shadow banking business, which helps channel deposits into risky investments via products often designed to dodge capital or investment regulations….

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#china #economy #finance #property #realestate #regulation #trustfund

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Special Report-Inflation Reduction Act Could Boost Green Hydrogen Development Worldwide

Special Report-Inflation Reduction Act Could Boost Green Hydrogen Development Worldwide

Green hydrogen production could see a breakthrough after the U.S. Senate passed the Inflation Reduction Act (IRA) on Sunday. It could not only prove to be a turning point for the U.S., but also beyond the American borders. The IRA’s tax credits of up to $3/kg will make green hydrogen produced in the U.S. the cheapest form of hydrogen in the world. It will also prompt other nations to implement similar measures to compete with the United States, and become major players in the industry. …

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#CarbonEmissions #climatechange #energysecurity #GreenHydrogen #InflationReductionAct #netzeroemissions #UnitedStates

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China-Saudi Energy Deal May be a Prologue to Wider Cooperation

China-Saudi Energy Deal May be a Prologue to Wider Cooperation

Saudi Aramco and China’s Sinopec signed a multi-pronged memorandum of understanding (MoU) last week, which is considered a critical step in China’s ongoing efforts to strengthen ties with the Middle Eastern kingdom. The scope of the agreement is very expansive, covering deep and broad co-operation in refining and petrochemical integration, engineering, procurement and construction, oilfield services, upstream and downstream technologies, carbon capture and hydrogen processes….

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#china #energysecurity #geopolitics #MiddleEast #oil #saudiarabia #SaudiAramco #Sinopec

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Taiwan Wants Foxconn to Pull Out of $800 Million Chinese Investment

Taiwan Wants Foxconn to Pull Out of $800 Million Chinese Investment

Taiwan’s national security officials try to persuade Foxconn to withdraw from its $800 million investment in Chinese chipmaker Tsinghua Unigroup. According to Taiwanese government officials, the deal cannot and will not go through because of national security concerns. Taiwan, the world’s biggest contract semiconductor producer, has become increasingly concerned over China’s efforts to boost its semiconductor industry….

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#china #Foxconn #IndoPacific #semiconductor #Taiwan #technology #TsinghuaUnigroup

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German Industry Looks for Exemptions as Gas Rationing Looms Large

German Industry Looks for Exemptions as Gas Rationing Looms Large

Bundesnetzagentur, Germany’s network regulator, which would be in charge of gas rationing in the event of a supply emergency, has received exemption requests from across industry. The requests show the German industry’s fears of production cuts and losses in case of a rationing measure. Germany is at phase two of a three-stage emergency plan following a reduction in gas flows from Russia….

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#Bundesnetzagentur #energycrisis #energysecurity #germany #industry #naturalgas #Russia #sanctions #UkraineCrisis

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How Would U.S.-Kenya Investment Partnership Shift Economic Landscape in East Africa?

How Would U.S.-Kenya Investment Partnership Shift Economic Landscape in East Africa?

The United States-Kenya Strategic Trade and Investment Partnership (STIP), which was signed on July 14, outlines the increased engagement and commitment between the two countries, while focusing on the development of investment and sustainable and inclusive growth that would benefit both countries’ businesses and citizens. The agreement also looks to support regional economic integration in East Africa….

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#africa #Agriculture #foodsecurity #ForeignInvestment #infrastructure #internationaltrade #Kenya #SubSaharanAfrica #UnitedStates

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Automakers Race to Secure Lithium Supplies from Argentina

Automakers Race to Secure Lithium Supplies from Argentina

Argentina has come into the global lithium spotlight as automakers rush to comply with global electrification goals, particularly the EU’s requirement for new cars and vans to have zero carbon emissions from 2035. The government of Argentina has been implementing initiatives to attract foreign investment. The Latin American nation has major lithium reserves in Salta, Jujuy and Catamarca provinces. …

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#Argentina #automotive #batterymetals #BMW #ElectricVehicles #energytransition #Ford #GM #LatinAmerica #Lithium #Livent #RioTinto #Toyota

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China Disappointed with Failure of Chipmakers As Anti-Graft Probes Resume

China Disappointed with Failure of Chipmakers As Anti-Graft Probes Resume

China’s top leaders have grown increasingly restless with the failure of domestic chipmakers to develop semiconductors that can replace U.S. technology, on top of a series of anti-graft probes into top industry officials and the $9 billion rescue of Tsinghua Unigroup. Senior officials’ anger stems from the industry failing to produce any breakthrough despite tens of billions of dollars have been poured into it over the past decade. Washington,…

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#china #chipshortage #competition #semiconductor #technology #tradewar #UnitedStates

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China Brings Out Economic Strategy for the Second Half

China Brings Out Economic Strategy for the Second Half

The Political Bureau of the Communist Party of China Central Committee met on July 28 to analyze the current economic situation and set out economic work for the second half of the year, including a next-stage policy navigation strategy. The meeting largely focused on “maintaining strategic resolve” while stabilizing growth without introducing excessive stimulus measures. It also emphasized speeding up the implementation of existing policies and making full use of them….

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#china #construction #covid19 #economicgrowth #economy #energysecurity #property #realestate #renewableenergy

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