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CNBC
23-06-2025
- Business
- CNBC
The Iran-Israel conflict isn't denting Chinese business optimism in the Middle East
BEIJING — The recent flare-up in Middle East tensions isn't denting Chinese business optimism about opportunities in the region. Chinese shipments to Dubai's logistics hub have risen by 20% this month from a year ago, as locals stock up on batteries and daily necessities, according to estimates from Bear Huo, China general manager at FundPark, a fintech startup that lends money to small Chinese businesses selling overseas via internet platforms. "Overall, Chinese merchants are relatively optimistic," he said Monday in Mandarin, according to a CNBC translation. That's partly due to the relatively recent rise of the Middle East as a fast-growing market, he added. Chinese companies have increasingly turned to the region in the last few years — whether to raise money from local investors or to tap a new market for electric cars — amid trade tensions with the United States. On the geopolitical front, Beijing helped Riyadh and Tehran restore diplomatic relations in 2023. Huo's view is that the Iran-Israel tensions will end relatively soon, given that even the U.S. strikes have targeted specific strategic sites, and as fighting isn't spread out along a border as in the drawn-out conflict between Russia and Ukraine. Nevertheless, risks remain elevated as the Dubai port is right across the Strait of Hormuz from Iran. Ships are moving more slowly and there are fewer flights, Huo said. He said he does not know where products from Chinese sellers go to after they arrive in Dubai, and added that the company doesn't directly do business with Iran because of sanctions. China's Ministry of Foreign Affairs said it "strongly condemns" the U.S. attacks on Iran over the weekend, while calling on all parties involved to "reach a ceasefire as soon as possible." China's trade with Iran has dropped sharply in the last two years, according to customs data accessed via Wind Information. The U.S.-sanctioned crude exporter has relied significantly on Beijing's purchases. "A more stable Middle East serves China's economic and strategic interests," said Yue Su, Beijing-based principal economist for China at the Economist Intelligence Unit. "Beijing will be interested to position itself as a constructive power capable of contributing to global stability," she said. She noted that Chinese businesses will likely interact cautiously with Iran, given concerns over possible secondary sanctions. State news broadcaster CCTV aired interviews Sunday of Chinese citizens grateful for Beijing's efforts to evacuate them from Iran. While there are strict warnings on U.S. citizens traveling to Iran, Chinese citizens have been able to visit Iran without a visa for three weeks, for tourism or business. Most Chinese nationals who were in Iran have been evacuated, the Chinese Embassy in Iran said Monday. On an even more optimistic note, if the latest escalation results in a relaxation of U.S. sanctions on Iran, tens of thousands of Chinese businesses would likely rush to the Middle Eastern country to build up its tourism, real estate and overall infrastructure, said Qin Gang, Beijing-based founder of a consultancy that translates as Ode & Song Cultural Industry. He said he visited five cities in Iran in 2013 at the invitation of Mahan Air, a private-sector Iranian airline.
Daily Express
08-06-2025
- Automotive
- Daily Express
Driverless lorries: China eyes transport change
Published on: Sunday, June 08, 2025 Published on: Sun, Jun 08, 2025 By: BBC Text Size: A Rino AI delivery truck cruises on the road in China (Pic: BBC/ Joyce Liu) BEIJING: They rumble down the highway between Beijing and Tianjin port: big lorries, loaded up and fully able to navigate themselves. Sure, there is a safety driver in the seat, as per government regulations, but these lorries don't require them, and many analysts say it won't take long before they are gone. Advertisement When 'safety driver' Huo Kangtian, 32, first takes his hands off the wheel, and lets the lorry drive itself, it is somehow impressive and disconcerting in equal measures. For the initial stages of the journey, he is in full control. Then - at a certain point – he hits a few buttons, and the powerful, heavy machine is driving itself, moving at speed along a public road to Tianjin. 'Of course, I felt a bit scared the first time I drove an autonomous truck,' says Huo. 'But, after spending a lot of time observing and testing these machines, I think they are actually pretty good and safe.' As the lorry veers off the freeway and up a ramp towards the toll gates, the machine is still driving itself. On the other side of the tollgate, Mr Huo again presses a few buttons, and he is back in charge. Advertisement 'My job as a safety driver is to act as the last line of defence. For example, in the case of an emergency, I would have to take back control of the vehicle immediately to ensure everyone's safety,' he explains. In terms of the upsides for a driver, he says that switching to autonomous mode can help combat stress and fatigue, as well as freeing up hands and feet for other tasks. He says it doesn't make his job boring, but rather more interesting. When asked if he is worried that this technology may one day render his job obsolete, he says he doesn't know too much about this. It's the diplomatic answer. Pony AI's fleet of driverless lorries, currently operating on these test routes, is only the start of what is to come, the company's vice-president Li Hengyu tells the BBC. 'In the future, with driverless operations, our transportation efficiency will definitely be greatly improved,' he says. 'For example, labour costs will be reduced but, more importantly, we can deal better with harsh environments and long hours driving.' What this all boils down to is saving money, says industry expert Yang Ruigang, a technology professor from Shanghai Jiaotong University, who has extensive experience working on driverless technology in both China and the US. 'Anything that can reduce operating costs is something a company would like to have, so it's fairly easy to justify the investment in having a fully autonomous, driverless truck,' he tells the BBC. In short, he says, the goal is simple: 'Reduce the driver cost close to zero.' However, significant hurdles remain before lorries will be allowed to drive themselves on roads around the world – not the least of which is public concern. In China, self-driving technology suffered a major setback following an accident which killed three university students after their vehicle had been in 'auto pilot' mode. Economist Intelligence Unit analyst Chim Lee says the Chinese public still has quite a way to go before it is won over. 'We know that recent accidents involving passenger cars have caused a huge uproar in China. So, for driverless trucks – even though they tend to be more specific to certain locations for the time being – the public's image of them is going to be absolutely critical for policy makers, and for the market as well, compared to passenger vehicles.' Professor Yang agrees that lorry drivers are unlikely to lose their jobs in large numbers just yet. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Time of India
05-06-2025
- Entertainment
- Time of India
Nintendo Switch 2 launch: What fans are saying about the new console
Live Events Mixed Reactions from Fans What's New in Switch 2 (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Nintendo Switch 2 has officially arrived, sparking long lines from Tokyo to New York as eager gamers camped out for the highly anticipated is banking on the Switch 2 to revive flagging sales, packing it with new features to attract online gamers. It marks the first major update to the beloved console in eight years — and the excitement was the U.S., a chaotic pre-order process back in April left many frustrated when consoles sold out within minutes. On launch day, hopeful buyers lined up early, some rolling the dice for leftover stock."I'm just rolling the dice here," said Edgar Huo, one of about 25 people waiting outside a Target store in Tribeca, New York City. While many had pre-ordered online, Huo and others hoped to score from any extra Japan, the Switch 2 was distributed via a competitive lottery system that drew 2.2 million applications, according to Nintendo. Some retailers held their own lotteries to meet Takahashi, who lost out on Nintendo's official draw, won a second-chance lottery from a major electronics retailer. He showed up four hours before store opening to secure accessories alongside his console.'I feel very sorry for those who weren't successful in the lottery. But I also had a tough time getting this far, so I hope they forgive me!' he the Switch 2 is flying off shelves, fan reactions have been mixed — especially user posted on X: "Bro, they charged $80 for the original Switch dock, and that one didn't even have a fan like the Switch 2 dock. I'll just browse second-hand again and try to score one for half price."Another user wrote: "The UI being the same as Switch 1 is really a bummer, but still enjoying the Switch 2."A more optimistic buyer shared: "Seen a lot of ppl complaining about the price and it's a fair criticism. But IMO this has been such a long time coming and it's pretty much everything we wanted — so to me it's a win."For those who couldn't snag one, the wait continues."I sadly couldn't get a Nintendo Switch 2 today, but it looks really good from the YouTube videos I've seen. It makes me really jealous lol. Can't wait until I get my hands on one," said an X Switch 2 features a larger, higher-resolution screen, enhanced processing power, and smoother, more vivid gameplay. The standout addition is a new 'C button' that launches GameChat, a social gaming feature that lets users communicate in real time — if they subscribe to Nintendo's online also includes a built-in microphone, enabling in-game voice chats and screen sharing with expects to sell 15 million units of the Switch 2 by March lovers can look forward to special Switch 2 editions of two popular Legend of Zelda games, along with upcoming releases in the Pokémon and Kirby franchises. Titles from third-party publishers are also on the Switch 2 launched at $449.99 in the U.S., a notable increase from the original Switch's $299 debut. The delay in preorders was reportedly due to uncertainty around new tariffs introduced by President Donald Trump, adding a layer of tension to the the pricing and preorder drama, the Switch 2's launch has once again cemented Nintendo's place at the heart of gaming culture — even as fans debate whether the upgrade is worth the wait.
The Hill
05-06-2025
- Business
- The Hill
Fans get in line, long lines, for highly anticipated launch of the Nintendo Switch 2
TOKYO (AP) — Eager customers joined long lines outside of stores from Tokyo to New York City hours before they opened in hopes of snaring a long-awaited Nintendo Switch 2 video game console. The much anticipated Switch 2, being released around the world Thursday, is an upgrade to its eight-year-old predecessor with new social features meant to draw players into online gaming. Nintendo is counting on the Switch 2 to boost sagging sales. In the U.S., a chaotic pre-order process in April left some fans frustrated after the consoles quickly sold out. Still, some eager fans lined up early Thursday at retailers such as Target in hopes of purchasing a unit. 'I'm just rolling the dice here,' said Edgar Huo, who was in a line of about 25 outside of a Target in the Tribeca neighborhood of Manhattan, New York. Many of those waiting for the store to open had ordered online, but a few like Huo hoped for a chance at purchasing any extra inventory the store had. In Japan, the new consoles were sold through a competitive lottery system that Nintendo said got about 2.2 million applications. Outside the official draw, some retailers offered their own lotteries to pre-order the devices. Koji Takahashi was among those who missed out on the official draw but he was selected in the second round of a lottery held by a major electronics retailer in Japan. He was first in line waiting outside the store, arriving four hours ahead of its opening. He hoped to secure a limited supply of Nintendo accessories to buy along with his pre-ordered Switch 2. 'I feel very sorry for those who weren't successful in the lottery. But I also had tough time getting this far, so I hope they forgive me!' Takahashi said. Nintendo of America President Doug Bowser told CBS Morning Plus today that the company is aware of the demand for its newest system and is working to get units into the hands of customers. 'We have a steady supply of manufacturing that will be coming in, and we believe we'll be able to meet that demand all the way through the summer, through Father's Day and then on into the holiday period also,' Bowser said. The new console comes with a larger and higher resolution screen than its predecessor, with improved processing power, offering smoother and more vivid graphics. Central to its updated system is a new 'C' button on its controller, which will launch a 'GameChat' feature that requires a subscription to Nintendo's Switch online service. It allows players to 'communicate with friends and family while playing a game,' and lets them share their game screen with others. A built-in microphone will also allow chatting with other gamers. Nintendo has said it expects to sell 15 million Switch 2 consoles for the fiscal year through March 2026. The company has promised to roll out attractive software for the Switch 2 later this year, including 'The Legend of Zelda' games, a Pokemon title and a Kirby game, as well as offerings from outside software companies. Nintendo is capitalizing on the launch with the opening of a store in San Francisco and the Super Nintendo World amusement facility in Orlando, Florida, both set for this month. The Switch 2's rollout arrives at an uncertain time for much of the gaming industry due to new tariffs implemented by U.S. President Donald Trump. In the U.S., the Switch 2's baseline launch price is $449.99 — significantly higher than the original Switch's $299 price tag. U.S. preorders for the Switch 2 were delayed for several weeks so the company could assess the potential impact of tariffs.
Nahar Net
05-06-2025
- Entertainment
- Nahar Net
A long wait for the Nintendo Switch 2 launch, and very long lines
by Naharnet Newsdesk 05 June 2025, 16:07 Eager customers lined up outside electronics stores in Tokyo hours in advance to collect their pre-ordered Nintendo Switch 2 video game consoles. The much anticipated Switch 2, being released around the world Thursday, is an upgrade to its eight-year-old predecessor with new social features meant to draw players into online gaming. Nintendo is counting on the Switch 2 to boost sagging sales. In the U.S., a chaotic pre-order process in April left some fans frustrated after the consoles quickly sold out. Still, some eager fans lined up early Thursday at retailers such as Target in hopes of purchasing a unit. "I'm just rolling the dice here," said Edgar Huo, who was eighth in line of about 25 outside of a Target in the Tribeca neighborhood of Manhattan, New York. Many of those waiting for the store to open had ordered online, but a few like Huo hoped for a chance at purchasing any extra inventory the store had. In Japan, the new consoles were sold through a competitive lottery system that Nintendo said got about 2.2 million applications. Outside the official draw, some retailers offered their own lotteries to pre-order the devices. Koji Takahashi was among those who missed out on the official draw but he was selected in the second round of a lottery held by a major electronics retailer in Japan. He was first in line waiting outside the store, arriving four hours ahead of its opening. He hoped to secure a limited supply of Nintendo accessories to buy along with his pre-ordered Switch 2. "I feel very sorry for those who weren't successful in the lottery. But I also had tough time getting this far, so I hope they forgive me!" Takahashi said. The new console comes with a larger and higher resolution screen than its predecessor, with improved processing power, offering smoother and more vivid graphics. Nintendo has said it expects to sell 15 million Switch 2 consoles for the fiscal year through March 2026. The company has promised to roll out attractive software for the Switch 2 later this year, including "The Legend of Zelda" games, a Pokemon title and a Kirby game, as well as offerings from outside software companies. Nintendo is capitalizing on the launch with the opening of a store in San Francisco and the Super Nintendo World amusement facility in Orlando, Florida, both set for this month. The Switch 2's rollout arrives at an uncertain time for much of the gaming industry due to new tariffs implemented by U.S. President Donald Trump. In the U.S., the Switch 2's baseline launch price is $449.99 — significantly higher than the original Switch's $299 price tag. U.S. preorders for the Switch 2 were delayed for several weeks so the company could assess the potential impact of tariffs.
