HOT TOPICS
U.S. agrees to ceasefire with Iran
U.S. President Donald Trump said Tuesday evening on social media that he agreed to a two-week ceasefire with Iran. The agreement followed a request from Pakistan’s Prime Minister Shehbaz Sharif and army chief Asim Munir, and is conditioned on Iran fully, immediately and safely opening the Strait of Hormuz.
CATL hires Zijin Mining founder
Contemporary Amperex Technology Co. Ltd. (CATL) hired Chen Jinghe, founder of Zijin Mining Group Co. Ltd., as an advisor to its mining department to help expand its mineral supply chain business. CATL has actively invested in lithium, nickel, cobalt and phosphorus to secure key upstream materials for battery production.
Foxconn trials foldable iPhone
Foxconn is trial-producing Apple’s first foldable phone, the iPhone Fold, which is expected to launch in September alongside the iPhone 18 Pro series. The device is projected to be Apple’s most expensive smartphone, with starting prices on the Chinese mainland estimated at 14,000 yuan to 15,000 yuan.
NEWS SUMMARY
China’s service trade fell 3.9% year-on-year to 1.1 trillion yuan in the first two months of this year.
XPeng terminated the exclusive agency agreement with its Australian dealership following the breakdown of their partnership.
China’s foreign ministry expressed serious concern over Japan’s plan to revise its weapons export restrictions.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
