Exclusive-German investment in China eases in H1 after record high

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German direct investment in China eased in the first half of the year albeit remaining close to its record high in 2022 and increasing as a share of the country's overall investment abroad, according to official data analysed by the IW institute. Investment in China dropped to 10.31 billion euros ($11.02 billion) in the first half of 2023 from 12 billion euros in the first half of last year, the IW said in an analysis shared exclusively with Reuters. The data underscores concerns that German firms continue to invest heavily in China despite the government's pleas for companies to reduce their exposure and its sharp cut in investment guarantees for the country.

Russia will pull in $7.6 billion this month from oil and gas sales, a 14% jump from August, Reuters estimatesThe report comes just hours after Turkish President Tayyip Erdogan asked Tesla CEO Elon Musk to build a vehicle factory in Turkey, according to the country's communications directorate. Musk also met Israeli Prime Minister Benjamin Netanyahu in California on Monday.

The group represents major chip firms such as Nvidia and Intel, whose sales to China have been affected by recent changes in U.S. export rules.Top executives of Exxon Mobil Corp. and Saudi Aramco voiced their backing for the global transition to cleaner energy forms, while emphasizing the lasting significance of oil in the energy sector for the foreseeable future. The statements were made on Monday at the World Petroleum Congress held in Calgary.

 

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