
Ceasefire between Iran and Israel 'good news,' Egyptian minister says
The ceasefire between Iran and Israel is "good news" for the regional economy, Rania Al-Mashat, Egyptian minister of planning, economic development and international cooperation, tells CNBC's Dan Murphy from the World Economic Forum in Tianjin.

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Business Insider
an hour ago
- Business Insider
China-Senegal relations enter new phase with renewed political, economic cooperation
China and Senegal have deepened their long-standing bilateral partnership with renewed economic and political partnership, and cultural cooperation, highlighting the growing depth of China's influence within the Global South. China and Senegal have enhanced their bilateral relationship through renewed cooperation agreements. High-level meetings focused on achieving outcomes from the 2024 Forum on China-Africa Cooperation. Senegal affirmed its commitment to strategic partnerships with China under the Belt and Road Initiative. During a high-level meeting in Beijing on Friday, Chinese President Xi Jinping hosted Senegalese Prime Minister Ousmane Sonko, and commended the significant progress achieved by both nations since the 2024 Forum on China-Africa Cooperation. " China and Senegal are companions on the path to development and revitalization as well as good brothers. China is willing to work with Senegal to strengthen solidarity and cooperation, bring more benefits to the two peoples, and inject fresh impetus into China-Africa friendship and Global South cooperation," President Xi said. Sonko, who had earlier attended the World Economic Forum's 16th Annual Meeting of the New Champions, known as the Summer Davos, in Tianjin, extolled the strong historical ties between the two countries and emphasized the importance of mutual respect and shared values. 'The relations between our two countries go back a very long time; they are solid and based on common values shared by the Global South, ' he said, adding that China respects Senegal's sovereignty and development path. President Xi, however, called for deeper and swift implementation of the outcomes from the 2024 Forum on China-Africa Cooperation and promised a more comprehensive Chinese investment in Senegal, particularly in energy, digital infrastructure, and trade. With a shared vision for the future, He also highlighted the upcoming China-Africa Year of People-to-People Exchanges as a new opportunity to boost cooperation in education, tourism, youth engagement, and cultural initiatives. China - Senegal's reliable partner in progress Prime Minister Sonko commended the initiative; he described China as a ' reliable partner, ' and reaffirmed his country's commitment to the one-China principle. He further expressed enthusiasm for advancing cooperation with China through the Belt and Road Initiative and other bilateral agreements. ' Senegal is committed to firmly working as China's strategic partner to jointly promote international fairness and justice, ' Sonko added. Both leaders stressed the importance of defending multipolarity and strengthening South-South partnerships. As Senegal continues to push for economic transformation, its alignment with the Asian giant signals a gradual shift among African nations seeking development partnerships rooted in shared values and mutual respect.


CNBC
7 hours ago
- CNBC
Here's how China just proved it can shut down auto production around the world
China dominates the world's production and processing of rare earth elements, which are used in all kinds of things: sports equipment, national defense, and each of the roughly 16 million cars sold in the US every year. The Asian country suddenly restricted exports in early April 2025. The move sent shockwaves through the auto industry which can't build cars without these minerals. CNBC Dove in to see how we got here, and how the auto industry might find its way out.


CNBC
21 hours ago
- CNBC
Jim Cramer is not giving up on Apple. Here's why
CNBC's Jim Cramer on Friday told investors that he's still pulling for Apple, even as its stock lags behind the averages. "If Apple can shake off its current shroud of negativity — maybe they make nice with President Trump somehow — I could justify paying 35 times earnings for the stock," he said. "Which is why I'm simply not ready to give up on this one." Cramer said he understands the current lack of enthusiasm for the iPhone maker. President Donald Trump is slapping steep tariffs on China, where Apple does the majority of its manufacturing. Trump has also said the company would have to pay a tariff of 25% or more if it were to make smartphones anywhere outside the U.S. — thwarting Apple's plans to dodge the new regulations by moving manufacturing to India. Some analysts have said domestic manufacturing would raise the cost of an iPhone by at least 25%, with one estimating a U.S. iPhone could sell at $3,500. Apple's recent Worldwide Developers Conference didn't "yield anything groundbreaking," Cramer continued, especially related to artificial intelligence. The tech titan also gave "tepid" guidance when it reported earnings last month, he added, and some on Wall Street are concerned as litigation regarding the App Store continues. However, Cramer said he's willing to stick with the company despite this uncertainty. He said he has faith in CEO Tim Cook, adding that tough times for Apple in the past have always proven to be great buying opportunities in hindsight. He reviewed the stock's performance over the past several years, noting that it has rallied hard after hitting bottoms. Cramer also said it's important to avoid looking at Apple's price-to-earnings multiple in a vacuum, saying investors should factor in its earnings growth rate. Money managers will pay up for growth, he continued, and he said Apple is expected to put up 14% earnings growth in the current calendar year. Meanwhile, he added, the S&P 500 as a whole is set to grow at a 9.4% clip. "There's clearly a point where Apple's stock becomes too cheap to ignore, and recent history says that's around 25 times earnings…that means down about 20 points from here," Cramer said. "I certainly don't want to see it revisit that level….but if for some reason the stock gets clobbered, you know what, let's back up the truck at $180." Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest The CNBC Investing Club Charitable Trust holds shares of Apple.