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2026-09-04

Cuba on the 3rd issued measures to ease restrictions on foreign investment, foreign trade and tourism. Key changes: remove requirement that foreign and tourism joint-venture employers hire Cuban staff via intermediaries authorized by the Ministry of

Cuba on the 3rd issued measures to ease restrictions on foreign investment, foreign trade and tourism. Key changes: remove requirement that foreign and tourism joint-venture employers hire Cuban staff via intermediaries authorized by the Ministry of Labor and Social Security and permit direct hiring; replace prior Cuban central bank approval for joint ventures and domestic investors to open overseas bank accounts with post-facto reporting to the central bank; update import-export procedures to allow private firms to engage directly in foreign trade; relax limits on foreign capital participation in wholesale and retail and in priority and historical-cultural investment zones; introduce tax incentives for eco‑tourism projects; and allow foreign firms, foreign capital and non‑state operators to participate in tourist transport and travel agency businesses.
2026-09-04

Goldman Sachs says XPeng’s next growth phase has broadened from pure vehicle sales into four parallel engines: new-model volume, overseas expansion, autonomous-driving commercialization and humanoid robots. Goldman identifies Q4 2026 as a key executi

Goldman Sachs says XPeng’s next growth phase has broadened from pure vehicle sales into four parallel engines: new-model volume, overseas expansion, autonomous-driving commercialization and humanoid robots. Goldman identifies Q4 2026 as a key execution node, citing company targets including monthly deliveries of 60,000, deliveries overseas of 40,000 and opening its L4 robotaxi program to the public. Goldman maintains a Buy rating with 12-month PTs of $18 (US ADR) and HK$69 (HK listing). (Goldman Sachs report, Sept. 1)
2026-09-04

Goldman Sachs believes that XPeng's next phase of growth has gradually expanded from simply selling cars to four parallel lines: "new model volume expansion, overseas expansion, commercialization of autonomous driving, and humanoid robots." The fourt

Goldman Sachs believes that XPeng's next phase of growth has gradually expanded from simply selling cars to four parallel lines: "new model volume expansion, overseas expansion, commercialization of autonomous driving, and humanoid robots." The fourth quarter of 2026 is a crucial milestone for several businesses to begin realizing their full potential (monthly delivery target of 60,000 vehicles, overseas deliveries of 40,000 vehicles, and the opening of the L4 Robotaxi plan to the public). Therefore, Goldman Sachs maintains its "Buy" rating with a 12-month target price of $18 for US shares and HK$69 for Hong Kong shares. (The above views are from Goldman Sachs' September 1st report.)
2026-09-04

Financial Times reports Trump appointees, campaign donors and recent departures are moving to profit from Venezuela’s troubled oil sector. Two people said Houston-based producer Sable Offshore is in advanced talks with the Venezuelan government to si

Financial Times reports Trump appointees, campaign donors and recent departures are moving to profit from Venezuela’s troubled oil sector. Two people said Houston-based producer Sable Offshore is in advanced talks with the Venezuelan government to sign an oilfield development contract, and a small number of other firms are in similar high-level negotiations. Sable’s VP for policy and commercial affairs, Brittany Kelm, was in the Trump administration until last month. Energy firm Primavera signed an oilfield development agreement on Wednesday; co-founder Fred Ehrsam donated $1.0m to Trump’s 2025 inauguration fund.
2026-09-04

Morningstar says Tencent’s AI build-out will not be a sustained cash drain. After large compute purchases for training, the Hunyuan large language model (LLM) is expected to improve quickly; if Hunyuan underperforms, Tencent can lease the hardware to

Morningstar says Tencent’s AI build-out will not be a sustained cash drain. After large compute purchases for training, the Hunyuan large language model (LLM) is expected to improve quickly; if Hunyuan underperforms, Tencent can lease the hardware to third parties to recoup investment. Morningstar sees the greatest long-term upside from commercializing AI across advertising, gaming and WeChat AI agents. Morningstar projects Tencent’s free cash flow turns positive in 2027, creating scope for larger share buybacks thereafter.
2026-09-04

A Morningstar research report points out that Tencent's AI development will not be a long-term, continuous drain on cash. After purchasing significant computing power for training, Tencent's Hunyuan large language model is expected to see rapid impro

A Morningstar research report points out that Tencent's AI development will not be a long-term, continuous drain on cash. After purchasing significant computing power for training, Tencent's Hunyuan large language model is expected to see rapid improvement. If Hunyuan's performance falls short of expectations, Tencent can lease the relevant hardware computing power to third parties, thus quickly recouping this substantial investment. However, in the long run, the greatest potential of Tencent's AI business lies not in leasing computing power, but in the commercialization of AI in various application scenarios such as advertising, gaming, and WeChat AI agents. Tencent's free cash flow is expected to turn positive in 2027, after which the company will have greater room to expand its share buyback program.
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