On Sunday, the Netherlands' Economy Minister, Vincent Karremans, stated that he expects to meet with a Chinese government official in the coming days to discuss how to resolve the standoff over Nexperia NV, a computer chip maker whose issues are threatening global automotive supply chains.
The Dutch government took control of Nexperia, a subsidiary of China’s Wingtechnand a key supplier of essential chips for cars, on September 30. In response, the Chinese government imposed a ban on exports of the company’s finished products.
In an interview on the Dutch television show Buitenhof, Karremans explained that while the Chinese believe the Dutch are aligning with the Americans on the Nexperia intervention, the action was actually intended to prevent the company’s former Chinese CEO from transferring operations and intellectual property out of Europe.
The standoff is causing concern within the automotive industry, as Nexperia's chips, while not the most advanced, are produced in large volumes, primarily in Hamburg, Germany, before being sent to China for packaging and distribution to the global car industry. Carmakers are worried about potential shortages in their supply chains if a resolution is not reached soon.
Karremans also highlighted the interdependent relationship between Chinese carmakers and Nexperia, noting, "We have a mutually dependent relationship. Everyone has an interest... to solve this together."
Nexperia reported a net profit of $331 million in 2024, making it a valuable asset for Wingtech. Karremans mentioned that Dutch diplomats have been working to resolve the dispute, and he is scheduled to meet with the Chinese minister responsible for the matter in the coming days. "This is being discussed at the highest level," he said.
Eight more suspected cases of African swine fever have been found near Barcelona as Spain battles to contain growing damage to its multi-billion-euro ...
The White House has opened a new page on its official website accusing journalists and news organisations of biased or misleading coverage of Presiden...
Israel’s Prime Minister Benjamin Netanyahu has submitted an official request for a pardon to President Isaac Herzog, the president’s office said o...
More than 600 people have died and over 4 million have been affected after a rare tropical storm brought a week of heavy rain, floods and landslides t...
The president of Kyrgyzstan, Sadyr Japarov, cast his vote on Sunday as the country held snap parliamentary elections....
The White House has opened a new page on its official website accusing journalists and news organisations of biased or misleading coverage of President Donald Trump
At least 153 people have been killed in Sri Lanka after landslides and flooding caused by Cyclone Ditwah, officials said on Saturday, with 191 others missing and more than half a million affected nationwide.
Venezuela has condemned Donald Trump’s claim that its airspace is “closed in its entirety,” calling the remark a hostile act that breaches international law and echoes colonial pressure.
Pompeii's ancient Roman frescoes, shattered and buried for centuries, could get a second life thanks to a pioneering robotic system designed to support archaeologists in one of their most painstaking tasks: reassembling fragmented artefacts.
U.S. investigators have recovered the black box recorders from the wreckage of a UPS cargo plane that crashed in flames on takeoff in Louisville, Kentucky. At least twelve people died. The crash sent a wall of fire into an industrial corridor and forced the shutdown of the airport.
The global recall of Airbus A320 aircraft has triggered widespread disruption across several major airlines, forcing flight cancellations in the United States, Japan, Australia and New Zealand.
Hezbollah chief Naim Qassem said on Friday that the group retains the right to respond to Israel’s killing of its top military commander, leaving open the possibility of a new conflict with the country.
Kazakhstan has called on Ukraine to stop striking the Black Sea terminal of the Caspian Pipeline Consortium (CPC) after a major drone attack forced a halt to exports and caused serious damage to loading equipment.
Russia’s state communications watchdog said it is tightening restrictions on WhatsApp, claiming the US-owned platform violates Russian law and is being used to facilitate criminal activity, according to comments carried by the Tass news agency.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment