Cosco Shipping Holdings Co. will use a terminal it acquired in eastern Spain mainly for car imports, underlying the country’s growing importance for Chinese automobile manufacturers. The plans mean about 300,00 new vehicles per year will arrive through the Port of Tarragona, its president, Santi Castellà, said in an interview. “That basically takes vehicles to 12% of our volumes from 5%,” Castellà...
Cosco Shipping Holdings Co. will use a terminal it acquired in eastern Spain mainly for car imports, underlying the country’s growing importance for Chinese automobile manufacturers. The plans mean about 300,00 new vehicles per year will arrive through the Port of Tarragona, its president, Santi Castellà, said in an interview. “That basically takes vehicles to 12% of our volumes from 5%,” Castellà said in an interview. Tarragona, about 100 kilometers (62 miles) south of Barcelona, late last month became the third Spanish port where Cosco has a terminal, after it was awarded a 50-year concession together with its Argentine partner PTP Group. It’s expected to start operating by year-end, with major refurbishment works completed by late 2028. The added cars, carried by container ships, are set to mark a shift at Tarragona, which mostly handles bulk liquids serving a local fuel refinery and petrochemical hub. Spain has been solidifying its role as a core European hub for Chinese automotive imports and production. At least five Chinese car brands have announced plans to start producing cars in Spain or are already doing so, and battery-maker CATL is building €5 million ($5.8 billion) plant in the country too. Cosco, which made the only firm offer in the competition for terminal rights, has commitment to invest €116 million, said Castellà. The new concession includes a rail terminal connecting it to two major logistics hubs, Zaragoza and Guadalajara, and from where it can also send freight trains to France. The rails will be interoperable with European standard rails, making freight trips to France easier, he added. The other two ports where Cosco is present are Valencia, and Bilbao, on the northwestern coast. CK Hutchison Holdings Ltd. has operations in Barcelona.
A six-year-old boy in Thailand’s Nakhon Si Thammarat province died after he was attacked by his grandfather’s pet monkey, sparking concern in a country where exotic animals are often kept as companions. Nathan Ekkarat Srichan was walking alone to his grandfather’s grocery shop on Saturday morning when the fatal attack happened, the Thairath newspaper reported. Unaware of the danger, he came near t...
A six-year-old boy in Thailand’s Nakhon Si Thammarat province died after he was attacked by his grandfather’s pet monkey, sparking concern in a country where exotic animals are often kept as companions. Nathan Ekkarat Srichan was walking alone to his grandfather’s grocery shop on Saturday morning when the fatal attack happened, the Thairath newspaper reported. Unaware of the danger, he came near the monkey, which was tied to two trees between the store and the house. The animal suddenly grabbed...
JHVEPhoto/iStock Editorial via Getty Images AMD ( AMD ) announced plans to invest up to £2B over the next five years in the U.K. to support advanced computing, scientific research, and workforce development across the region. Speaking at London Tech Week, AMD chair and CEO Lisa Su outlined a series of investments and strategic collaborations designed to help accelerate the U.K.’s AI ecosystem. “Th...
JHVEPhoto/iStock Editorial via Getty Images AMD ( AMD ) announced plans to invest up to £2B over the next five years in the U.K. to support advanced computing, scientific research, and workforce development across the region. Speaking at London Tech Week, AMD chair and CEO Lisa Su outlined a series of investments and strategic collaborations designed to help accelerate the U.K.’s AI ecosystem. “The United Kingdom has the talent, research excellence and ambition to help lead the next era of AI,” said Dr. Lisa Su, chair and CEO, AMD. “AMD is proud to deepen our commitment to the UK and work with partners across government, academia and industry to expand access to the compute infrastructure needed to advance sovereign AI, accelerate discovery and drive long-term economic growth.” As part of the initiative, AMD will collaborate with Imperial College London to advance computational science and support research projects that require large-scale computing resources, including healthcare innovation and climate modeling. AMD is also partnering with Oriole Networks on the U.K. Advanced Research and Invention Agency's (ARIA) Scaling Inference Lab, a national program focused on overcoming AI infrastructure bottlenecks. The project will combine Oriole's PRISM photonic networking technology with AMD Instinct GPUs and EPYC processors to explore more efficient ways to scale AI inference workloads while reducing latency and energy consumption. In addition, AMD and Dell Technologies ( DELL ) are working with the University of Cambridge to expand the U.K.'s national AI infrastructure, including the Zenith AI supercomputer and the Sunrise fusion AI system, which is being developed in collaboration with the United Kingdom Atomic Energy Authority. More on AMD AMD: Now Sitting On The Wrong Side Of The Semiconductor Narrative (Hold) Sell AMD: Circular Financing Through Warrants AMD: The Case Has Changed, Time To Be Bullish (Rating Upgrade) Nasdaq-100 falls more than 4% as Arm, AMD, and Mi...
JHVEPhoto/iStock Editorial via Getty Images AMD ( AMD ) announced plans to invest up to £2B over the next five years in the U.K. to support advanced computing, scientific research, and workforce development across the region. Speaking at London Tech Week, AMD chair and CEO Lisa Su outlined a series of investments and strategic collaborations designed to help accelerate the U.K.’s AI ecosystem. “Th...
JHVEPhoto/iStock Editorial via Getty Images AMD ( AMD ) announced plans to invest up to £2B over the next five years in the U.K. to support advanced computing, scientific research, and workforce development across the region. Speaking at London Tech Week, AMD chair and CEO Lisa Su outlined a series of investments and strategic collaborations designed to help accelerate the U.K.’s AI ecosystem. “The United Kingdom has the talent, research excellence and ambition to help lead the next era of AI,” said Dr. Lisa Su, chair and CEO, AMD. “AMD is proud to deepen our commitment to the UK and work with partners across government, academia and industry to expand access to the compute infrastructure needed to advance sovereign AI, accelerate discovery and drive long-term economic growth.” As part of the initiative, AMD will collaborate with Imperial College London to advance computational science and support research projects that require large-scale computing resources, including healthcare innovation and climate modeling. AMD is also partnering with Oriole Networks on the U.K. Advanced Research and Invention Agency's (ARIA) Scaling Inference Lab, a national program focused on overcoming AI infrastructure bottlenecks. The project will combine Oriole's PRISM photonic networking technology with AMD Instinct GPUs and EPYC processors to explore more efficient ways to scale AI inference workloads while reducing latency and energy consumption. In addition, AMD and Dell Technologies ( DELL ) are working with the University of Cambridge to expand the U.K.'s national AI infrastructure, including the Zenith AI supercomputer and the Sunrise fusion AI system, which is being developed in collaboration with the United Kingdom Atomic Energy Authority. More on AMD AMD: Now Sitting On The Wrong Side Of The Semiconductor Narrative (Hold) Sell AMD: Circular Financing Through Warrants AMD: The Case Has Changed, Time To Be Bullish (Rating Upgrade) Nasdaq-100 falls more than 4% as Arm, AMD, and Mi...
African migrants say legal status offers little protection as rallies against illegal immigration gain momentum African migrants in South Africa say they are living in fear after a series of marches calling for illegal immigrants to leave reignited long-held xenophobic sentiment in the country. March & March, a campaign group at the forefront of recent protests, has given people living illegally i...
African migrants say legal status offers little protection as rallies against illegal immigration gain momentum African migrants in South Africa say they are living in fear after a series of marches calling for illegal immigrants to leave reignited long-held xenophobic sentiment in the country. March & March, a campaign group at the forefront of recent protests, has given people living illegally in the country until 30 June to leave, without specifying what will happen to those who do not. Continue reading...
Asset manager Schroders is buying Italian government bonds, arguing the country has already weathered the budget and political turmoil now rattling investors in other European nations and the US. Dorian Carrell , head of multi-asset income at the £814 billion ($1 trillion) investment firm, has built a “significantly overweight” position in Italian debt in recent weeks, adding 10-year bonds at the ...
Asset manager Schroders is buying Italian government bonds, arguing the country has already weathered the budget and political turmoil now rattling investors in other European nations and the US. Dorian Carrell , head of multi-asset income at the £814 billion ($1 trillion) investment firm, has built a “significantly overweight” position in Italian debt in recent weeks, adding 10-year bonds at the expense of Treasuries as well as government debt from the biggest European economies, including Germany. His rationale is that Italy, once synonymous with fiscal blowouts and near-constant political upheaval, has become more stable under Prime Minister Giorgia Meloni , while its peers, historically seen as safer, have become less so. Meloni’s government has kept deficits in check, and polls suggest it could remain in power after next year’s general election . That’s helped compress the country’s 10-year bond premium over benchmark German Bunds to just 77 basis points, versus roughly 250 basis points in 2022, when Meloni’s right-wing government took office. The spread for Italian bonds, or BTPs, has continued to tighten even after the Iran war started, narrowing about 20 basis points in the past three months. Carrell sees that premium as “reasonable” on a relative basis, given the political and economic risks elsewhere. In Germany, support for Chancellor Friedrich Merz is plummeting amid weak economic growth, industrial decline and energy-supply challenges. In France, meanwhile, next year’s election is expected to see further gains by far-right parties. “Italy actually looks quite good,” he said. “We are more worried about France and Germany politically.” Investors’ fears for Italy under a Meloni government have largely failed to materialize, so “you don’t need too much for spread in our view for BTPs over bunds,” Carrell added. Read: One-Time Bond Pariahs Go Neck and Neck With Germany, France Carrell is also underweight Treasuries, given the expanding US fiscal deficit and ...