Volkswagen Group Appoints Ludwig Fazel As New Head of Group Strategy

  On December 12, market analysts stated that oil prices rose today, but may still record significant declines this week. Diplomatic efforts to end the Russia-Ukraine conflict are underway, while the overall bearish fundamentals indicate a supply surplus in the market next year. Next week, market focus is expected to shift to the Russia-Ukraine negotiations, with traders also monitoring the increasingly tense relations between the U.S. and Venezuela. The International Energy Agency (IEA) noted that the anticipated market surplus has narrowed, but the large supply overhang still casts a shadow over the outlook. In contrast, OPEC's supply and demand forecast points to a relatively balanced market next year. Analysts at ANZ Bank stated, "This represents a stark reversal from earlier this year, which suggested a tightening market."

On December 12, Zhuan Su Shi Jie learned that Toray announced the successful development of a new antistatic version of its Toyolacparel acrylonitrile-butadiene-styrene (ABS) resin. It is reported that the material's surface resistivity reaches 10⁹Ω/square (one billion ohms per square), making its antistatic performance five times that of the company's traditional products. This new grade is specifically designed for trays, enclosures, and other handling equipment required in semiconductor and electronic device manufacturing. It can reduce the risk of product damage or defects caused by static electricity, dust, and other contaminants.

Recently, XRG P.J.S.C., an investment group headquartered in Abu Dhabi (formerly ADNOC International Limited and its subsidiaries, hereinafter referred to as "XRG"), Has officially completed the voluntary public acquisition of Covestro AG.This marks an important step in the group's journey to becoming one of the world's top three chemical investment companies. XRG confirmed that the acquisition has been completed and signed all relevant agreements after obtaining approval from the relevant regulatory authorities. As part of the transaction, XRG injected 1.17 billion euros into Covestro through a planned capital increase to strengthen the financial position of the German manufacturer under the new equity structure.

According to a report by CCTV, on December 11, the U.S. Treasury announced new sanctions against Venezuela. The sanctions target...VenezuelaPresident Maduro's three nephews and another individual were sanctioned. Additionally, six companies accused of transporting Venezuelan oil and six vessels carrying the country's oil have also been sanctioned. Analysts believe these sanctions aim to prevent the sanctioned individuals from accessing any property or financial assets in the United States and prohibit American companies and citizens from engaging in any commercial dealings with them. Banks and financial institutions violating this restriction will face sanctions or enforcement actions. Some analysts think that U.S. President Donald Trump's move is intended to further pressure Venezuela.

According to two sources and a letter from an industry association, Mexico has decided to raise tariffs to a maximum of 50%, which will affect $1 billion worth of exports to Mexico from major Indian automobile exporters, despite lobbying groups urging the Indian government to prevent this move. The government of President López Obrador approved on Wednesday to impose import tariffs on hundreds of goods from countries that have not signed trade agreements with Mexico starting next year. The tariff on automobile imports will increase from 20% to 50%, impacting the largest Indian car manufacturers exporting to Mexico, including Volkswagen India, Hyundai India, and Nissan India.Maruti Suzuki ) caused a significant blow.The copy of the letter shows that the members include modern and In November, the Indian Automobile Manufacturers Association urged the Indian Ministry of Commerce and Industry to pressure Mexico. The tariff increase may force Indian car companies to reassess their reliance strategy on the Mexican market. Mexico is India's third-largest automobile export destination after South Africa and Saudi Arabia, with total exports to Mexico reaching $5.3 billion in the previous fiscal year, of which automobiles accounted for nearly $1 billion.