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On September 6, the foreign ministers of the Kingdom of Saudi Arabia, the Hashemite Kingdom of Jordan, the United Arab Emirates, the Republic of Indonesia, the Islamic Republic of Pakistan, the Republic of Turkey, the State of Qatar, and the Arab Republic of Egypt issued a joint statement strongly condemning the remarks made by Israeli National Security Minister Itamar Ben-Gwell and Israeli Defense Minister Israel Katz regarding the expulsion of the Palestinian people from the Gaza Strip, including proposals for plans and mechanisms aimed at forcibly removing Palestinians from their homes. Such inflammatory rhetoric and proposals blatantly violate principles of international law, including international humanitarian law, and pose a direct threat to the legitimate and inalienable rights of the Palestinian people. The Gaza Strip is an integral part of the occupied Palestinian territory, and the unity of the Palestinian land must be maintained.On September 6th, China Export & Credit Insurance Corporation (SINOSURE) announced that the Ministry of Finance will inject RMB 10 billion into the company. This capital injection will be carried out steadily in accordance with market-oriented and rule-of-law principles, fully reflecting the positive outlook for the financial industry. Supporting SINOSURE in replenishing its core tier-one capital will help the company improve its risk solvency ratio, enhance its ability to fulfill its obligations as an insurer, further expand the coverage of export credit insurance, effectively ensure medium- and long-term financial sustainability, improve the resilience of its operating cash flow, and support the company in better fulfilling its policy-oriented functions and serving the real economy.On September 6, the Export-Import Bank of China announced that the Ministry of Finance will inject RMB 30 billion into the bank, effectively consolidating its capital base, strengthening its sustainable development capabilities, significantly enhancing its ability to provide funds for serving the real economy and opening up to the outside world, and improving its risk prevention and control resilience. This will provide a solid guarantee for better fulfilling its policy-oriented financial responsibilities and missions and serving major national strategies.The U.S. National Hurricane Center: Marie is expected to begin weakening later today.Turkish Vice President Yilmaz: We expect to create 2.1 million new jobs by the end of 2029 and reduce the unemployment rate to below 8%.

Panasonic Anticipates A Rise in Global Automobile Production This Fiscal Year

Aria Thomas

Jun 01, 2022 14:49

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Panasonic (OTC:PCRFY) Holdings Corp, which manufactures batteries for Tesla (NASDAQ:TSLA) and other automakers, stated on Wednesday that it anticipates a recovery in global vehicle production this fiscal year, but that the two-year semiconductor shortage will persist.


Masashi Nagayasu, CEO of the Japanese conglomerate's automotive business, which manufactures in-car infotainment systems and other auto components, stated, "We will operate our business in consideration of the risks of fluctuations in vehicle manufacturing."


Nagayasu stated on the first day of Panasonic's annual investor event that the company has no plans to produce automobiles.


Panasonic, whose automotive division accounts for approximately 14 percent of its entire revenue, anticipates a 19 percent increase in sales for the fiscal year ending in March 2023. It anticipates an operational profit increase of roughly 17 percent.


Due to component shortages caused by COVID-19 lockdowns in China and higher commodity prices as a result of Russia's invasion of Ukraine, the company stated last month that it did not anticipate a profit increase for this fiscal year.


(This item corrects the firm name in paragraph 1 to Panasonic Holdings Corp from Panasonic Corp, and the sales growth forecast in paragraph 4 to 19 percent from 10 percent, and the operating profit forecast to nearly 17 percent from 15 percent decline.)


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