China is on a mission to break up the Airbus-Boeing duopoly and it hopes the domestically made Comac C919 will be its first big break into foreign markets. Made by the Commercial Aircraft Corporation of China (Comac), the passenger aircraft has been touted as the “dream of a nation” by Chinese President Xi Jinping. If successful, the C919 would offer airlines an alternative to the Airbus A320 and Boeing 737 families. However, there are still several hurdles Comac would need to clear before it could take on the French and American aerospace giants’ dominance. Today, the bulk of the C919 orders, which can be outfitted with up to 192 seats, are from domestic carriers and Chinese companies that lease aircraft to airlines. GallopAir, a new Brunei-based airline, is the first carrier outside of China to order the C919. They have ordered 15 C919s and 15 ARJ21s, Comac’s small jet aircraft. The airline will launch at the end of 2024 with the ARJ21, according to its CEO Cham Chi. “As a customer and operator of China’s Comac products, we can get financial support from China’s import-export bank, and also central banks,” Cham told CNBC in an interview. According to Cham, Comac said it would consider creating aircraft maintenance, repair and overhaul support for its aircraft in Brunei. “For the first and second aircraft, we’ll still need to fly to Shanghai for MRO,” he said. “After three to five aircrafts have been delivered, then we can start MRO in Brunei.” The future production rate, especially for the C919, remains in question for Comac. “It’s a big question, having only delivered four aircraft over the last several years,” Adam Cowburn, managing director of Alton Aviation Consultancy told CNBC. “Industry analysts will look at production rate to understand at what rate they are going to start to meaningfully chip away at the market share of Boeing and Airbus. Our models predict that was still quite some time out,” Cowburn said. Brendan Sobie, an independent analyst from Sobie Aviation said that Comac’s aspiration is to have international sales, though it will take time. “Airlines want that third option after Airbus and Boeing, particularly given Boeing’s issues recently,” he told CNBC. Boeing has been hit with a multitude of safety issues, particularly involving their Boeing 737 Max. “It’s still early to say whether [Comac] is a serious competitor in the long run,” Brendan added. Watch the video above to learn more about Comac’s origins, and whether it has what it takes to disrupt Airbus and Boeing. #CNBC #Airplane #China #Comac #Boeing #Airbus ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

The so-called wealth tax is a politically divisive economic policy, but one that is regaining attention amid rising inequality and shifting demographics. U.S. President Joe Biden in his 2024 State of the Union address took aim at the uber affluent, saying he would impose a targeted “billionaire tax” on America’s wealthiest. It follows an earlier G20 meeting, in which finance leaders explored plans for a global minimum tax on the world’s 3,000 billionaires. Colombia, Scotland and the U.S. have all proposed wealth taxes in recent years, joining the likes of Switzerland, Norway and Spain in imposing taxes specifically on the super-rich. And even some of the world’s wealthy are backing such calls. “This is about the wealthy contributing more to the society,” Phil White, retired entrepreneur and member of the Patriotic Millionaires group, told CNBC. But can such a policy work in reality, and is it likely to take hold? Watch the video above to learn more. #CNBC #WealthTax #G20 ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

Switzerland is populated with billionaires — there's one for every 80,000 people.  As of 2022, the country was home to an estimated 110 billionaires with a combined wealth of $338 billion, outranking other super-rich hotspots such as Saudi Arabia, Singapore and the United Arab Emirates.  Swiss residents are also among the richest in the world, with a mean net worth of almost $700,000, ahead of U.S. and Hong Kong.  So, what makes Switzerland such an attractive place for the uber wealthy, and how does that extreme wealth affect the rest of Swiss society? Watch the video to find out.  #CNBC #wealth #billionaire ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

A transformation is unfolding in the United Arab Emirates, where approximately 80% of the country’s land is desert. The UAE has introduced measures to combat desertification by turning its arid landscapes green. Other countries like China have also adopted similar processes. The Middle East is home to 12 of the 17 most “water-stressed” countries of the world, and the UAE receives less than 200 mm of rainfall a year. Comparatively, the U.K. soaked up an average of 1,051 mm of rain in 2022, while Singapore was drenched in a whopping 3,012 mm during the same year. Abdulla Al Mandous, director general at the UAE National Centre of Meteorology, says that the country has invested more than $20 million in cloud seeding research — a process designed to enhance rainfall. #CNBC #DesertGreening #Dubai ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

Have you ever wondered if you're being watched? It's a feeling that's creeping in for more travelers, as stories of hidden cameras — in hotel rooms, house rentals, cruise ships, even airplane bathrooms – continue to make headlines. Spycams were once the stuff of international espionage, with secret agents given cameras resembling pocket watches, matchbooks – even tubes of lipstick. Pieter Tjia, founder of Singapore tech company OMG Solutions, said that cameras have become smaller and harder to see in the past three years – often hidden in everyday objects such as calculators, diffusers, and water bottles. But how hard is it to find these cameras? And do devices designed to locate hidden cameras really work? #CNBC ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

For years, multinational companies have set up labor-intensive operations in India involving services such as IT support, call centers or mobile app development. Despite being one of the fastest-growing economies in the world, India's position in the global value chain remained weak. Global value chains are activities that often involve multiple countries across several regions. Many everyday products, such as cars and smartphones, involve global value chains, from their design and sourcing of raw materials to assembly and distribution. Today, nearly 70% of international trade involves global value chains. However, India's position in the global value chain is shifting due to government incentives and a digitally savvy economy.  Adit Jain, the founder of IMA India, a market research firm, said: "When we look at global value chains, two and a half decades ago, all of it [in India] was focused on shared services, back-office accounting, grunge work that could be cheaply done because we have a large, skilled, educated population. "But then, slowly, businesses started realizing that, hang on, we can actually do a lot more; we can set up high-end research and development." According to a joint survey conducted in 2022 by EY and the Confederation of Indian Industry, more than 70% of multinational corporations plan to invest in the country in the next 3-5 years.  Rajat Dhawan, a managing partner at global consulting firm McKinsey, said: "By our estimate, many of the Fortune 500 companies have 50% to 60% of their global engineering and [research and development] work, they're getting it done in India." Tech giants like Amazon and Microsoft have poured billions of dollars into data centers, while other companies like Verizon, Nokia, and Cisco are doubling down on India.   Dave West, Cisco's APAC president, says that the ease of doing business in India has improved over the company's 28-year history in the country.  "We're looking at countries that will help us scale up and deliver services for the market. At some point in calendar year '24, you will see Cisco manufacture in southern India," West said. "We're going to be manufacturing our best in class, routers and switches."  According to West, Cisco aims to yield a billion dollars out of this investment in the Indian market.   "We're manufacturing in India, not for India, because it will satisfy the domestic market, but it's also satisfying and delivering capabilities and services from India to the rest of the world," West added.  Watch the video to find out more businesses are investing in India.  #CNBC #India #Investments ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

Incheon Airport in Seoul is part of a growing number of airports that are using smart technology to transform the way people fly. From departure check-ins using facial recognition to unmanned service robots, the airport is finding innovative ways to enhance the passenger experience. Incheon was ranked by air transport research firm Skytrax as the 4th best airport in the world in 2022, just behind Haneda Airport in Tokyo, Hamed Airport in Doha, and Singapore’s Changi Airport. However, Incheon Airport stood out for its customer service. In 2022, it was the world’s first airport to be awarded the highest level of customer experience by the trade association of the world’s airports, Airports Council International. “We approach customer service from customers’ perspectives,” Lee Hag-jae, CEO of Incheon International Airport Corporation, told CNBC in an interview. “Airports need to become destinations themselves.” He emphasized Incheon Airport’s ambition to become a “smart airport,” citing cargo transportation, baggage, shopping services and the immigration process as key priority areas. In July, Incheon Airport rolled out the ICN Smart Pass, a passport-free clearance for air travelers, reducing the boarding process to mere seconds. The technology leverages facial recognition, forgoing the need to produce passports, tickets and boarding passes multiple times. Other countries that have or are planning to introduce similar technologies include Singapore and the United Arab Emirates. “It’s not really about whether Incheon Airport ranks first or second. But rather, I want Incheon Airport to be a model that sets a framework for the industry,” Lee said. Watch the video to find out what makes Incheon Airport stand out for its customer service. #CNBC #Incheon #Airport ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

The vaping industry has surged over the last decade, as health bodies have promoted it as an aid to quit smoking while cigarettes continue to fall out of fashion. But the vaping industry is facing a reckoning. Governments are looking to restrict the sale of disposable vapes amid concerns about the rise in vaping among young people and non-smokers getting addicted. Marcus Saxton, CEO of British vape company Totally Wicked and chairman of the Independent British Vape Trade Association, said: “The [vaping] market is worth between $3 billion and $4 billion. You could estimate, and intelligence would suggest, that the illicit market could be as much as two-thirds of that.” As revenue from cigarettes declines, big tobacco companies hope to capitalize on the fast-growing vape market, Owen Bennett, global tobacco and cannabis equity researcher at Jefferies, told CNBC. “The old cigarette model in terms of volume declines was becoming much more pressured,” he noted. As of October, 28 countries have banned the sale of e-cigarettes. The U.K., Germany, France, Ireland and Belgium are among the countries looking into how they can ban disposable, or one-use vapes, as they continue to grow in popularity. However, regulating that could be an uphill struggle. Jasmine Khouja, a senior research associate from the University of Bristol’s Tobacco and Alcohol Research Group, said: “What we’ve seen in America is that [vaping] has kind of plateaued, and I think it’s starting to reduce a little bit as well. So I think we probably won’t see much more of an increase. “I think we’ve got to around the level at which it will be at its most popular, but how long it takes for it to decrease in popularity, again, is yet to be seen.” So, what does the rise in vaping mean for the tobacco industry, and is the hysteria over its impacts well-justified? Watch the video to find out. #CNBC #Vaping #BusinessNews ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp

On September 22, 2023, Israeli Prime Minister Benjamin Netanyahu said his country was on the cusp of a dramatic breakthrough that would change the Middle East forever. The prime minister was referring to a normalization of diplomatic relations with Saudi Arabia, Israel’s richest neighbor and the birthplace of Islam. But only a few weeks later, a deadly terror attack by Hamas in Israel reignited the oldest conflict in the region and quickly spiraled into a war. America’s Arab partners in the Middle East like Saudi Arabia are caught between delicate diplomatic relations and angry constituencies back home. #CNBC #Israel #SaudiArabia ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci