Latest news with #supply chains
Times of Oman
a day ago
- Business
- Times of Oman
SEZAD to organise "Duqm Summer" sessions for investors in August 2025
Duqm: The Special Economic Zone Authority at Duqm (SEZAD) will organize four specialized familiarization sessions, titled "Duqm Summer", in favour of investors in August 2025, at SEZAD building in Duqm in Al Wusta Governorate. The sessions will deal with uses of artificial intelligence applications, developing an adaptable workforce, building resilient supply chains and promoting a culture of work environment that encourages stability and professional growth. The sessions include one about global trade and supply chains, due to be held on 19 August. It will discuss strategic location of A'Duqm as an ideal meeting point between Europe, Asia and Africa. It will also address real-life experiences in managing risks during periods of disruption and crises. "Duqm Summer" sessions conclude on 26 August, with a session to be dedicated to workplace culture and mental health. The closing session will explain how organizations can build a supportive work environment that enhances performance and diminishes employee turnover rates.
BBC News
3 days ago
- Automotive
- BBC News
Car maker Stellantis says US tariffs have cost it €300m
The car company behind the brands Vauxhall, Jeep and Fiat says US President Donald Trump's tariffs have already cost it €300m (£259.6m, $349.2m).Stellantis said the financial hit was a result of tariffs impacting trade and the company's loss of planned production in its response to the them.A 25% tariff on cars being imported to the US has been place since policy decision has threatened to upend global car trade and supply chains, with some car manufacturers, including Jaguar Land Rover (JLR) temporarily pausing exports to the US in response. Stellantis owns 14 car brands, including Alfa Romeo, Maserati, Citroen, Chrysler and said its shipments to North America were 25% lower in the three months to June compared to the same period in 2024, due in part to sales over that time were also down 10%, the company said in preliminary figures for the first half of the Stellantis has manufacturing plants in the US, it also manufactures vehicles in the UK, Europe, Canada, Mexico and South car company has forecast revenues of €74.3bn for the first half of the year, and a net loss of €2.3bn which includes the impact of tariffs. When he introduced the car tariffs, Trump said it would boost the American car manufacturing industry, but within a month of their introduction he eased tariffs on foreign car UK reached a deal with the White House in May to reduce car tariffs to 10% on up to 100,000 vehicles, which is still considerably higher than the previous tariff of 2.5%.Other countries remain in negotiations with the US, and Trump has recently threatened to lift overall tariffs on the European Union and Mexico if they retaliate against the US tariff has also threatened to lift tariffs on Brazilian exports to 50% if the country does not drop a case against far-right former president Jair Bosonaro, a Trump ally facing prosecution over an alleged coup has three facilities in Brazil, producing Fiat, Jeep and Citroen is not the only car manufacturer dealing with the repercussions of Trump's June, JLR downgraded its profit predictions after it halted all exports to the US in April before resuming shipments in May after the UK deal was week, JLR announced it was cutting up to 500 management jobs in the UK amid ongoing pressure on its sales from tariffs.
Yahoo
6 days ago
- Business
- Yahoo
China commerce minister says he met Nvidia CEO in Beijing
By Che Pan and Casey Hall BEIJING (Reuters) -China's Commerce Minister Wang Wentao said on Friday he met with Nvidia CEO Jensen Huang in Beijing on Thursday. Wang said at a press conference that Huang had worked very hard over the past few days during his visit to China, but Wang did not provide any details about what was discussed at their meeting. Nvidia did not respond immediately to a request for comment. During his third China visit this year, Huang, the founder and CEO of the world's most valuable company, also met with Ren Hongbin, chairman of China Council for the Promotion of International Trade and the country's Vice Premier He Lifeng. Chinese officials told Huang they welcomed foreign companies to continue to invest in the country, the Nvidia CEO said at a press conference in Beijing on Wednesday. At the event, Huang described artificial intelligence models from Chinese firms Deepseek, Alibaba and Tencent as "world class" and said AI was "revolutionising" supply chains. Huang also said Chinese customers' demand for its H20 AI chip, which was released from U.S. export controls this week, is high but no purchase orders have been fulfilled yet as it awaits U.S. government approval for export licences. Nvidia has also announced it is developing a new chip for Chinese clients called the RTX Pro GPU, which would be compliant with U.S. export restrictions and designed specifically for smart factories and for robot training purposes. Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
China commerce minister says he met Nvidia CEO in Beijing
By Che Pan and Casey Hall BEIJING (Reuters) -China's Commerce Minister Wang Wentao said on Friday he met with Nvidia CEO Jensen Huang in Beijing on Thursday. Wang said at a press conference that Huang had worked very hard over the past few days during his visit to China, but Wang did not provide any details about what was discussed at their meeting. Nvidia did not respond immediately to a request for comment. During his third China visit this year, Huang, the founder and CEO of the world's most valuable company, also met with Ren Hongbin, chairman of China Council for the Promotion of International Trade and the country's Vice Premier He Lifeng. Chinese officials told Huang they welcomed foreign companies to continue to invest in the country, the Nvidia CEO said at a press conference in Beijing on Wednesday. At the event, Huang described artificial intelligence models from Chinese firms Deepseek, Alibaba and Tencent as "world class" and said AI was "revolutionising" supply chains. Huang also said Chinese customers' demand for its H20 AI chip, which was released from U.S. export controls this week, is high but no purchase orders have been fulfilled yet as it awaits U.S. government approval for export licences. Nvidia has also announced it is developing a new chip for Chinese clients called the RTX Pro GPU, which would be compliant with U.S. export restrictions and designed specifically for smart factories and for robot training purposes. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
7 days ago
- Business
- South China Morning Post
Brazil triples rare earth exports to China as Washington-Beijing rift ripples through trade
Brazil's rare earth exports to China tripled in the first half of 2025 just as Chinese imports surged to a record high, fuelling concerns that Beijing-Washington trade tensions may be quietlyreroutingg the world's supply chains through emerging economies. The figures are part of a report released on Thursday by the China-Brazil Business Council (CBBC) that shows Brazil's exports to China fell 7.5 per cent compared to the same period last year, reaching US$47.7 billion. Imports from China rose 22 per cent to US$35.7 billion. As a result, Brazil's trade surplus with China narrowed to US$12 billion. It was the lowest since 2019 and half the total recorded in 2024. Rare earth compound exports reached US$6.7 million, a threefold increase over the first half of 2024. While small in absolute terms, analysts see the growth as a sign of China's bid to diversify its access to strategic minerals. Tulio Cariello, research director at CBBC and the report's author, said the shifting numbers reflected not only China's evolving industrial policy but also the ripple effects of global trade tensions. 'As the United States and China harden their trade barriers, Brazil ends up absorbing part of that shock,' he said.
