China Financial News

Gujarat's Kutch district on Monday morning, the Institute of Seismological Research (ISR) said. There was no report of any casualty or damage to property, the district administration said.

Russian Railways JSC — the state-owned carrier responsible for all rail transport throughout the country — last week approved a 30% cut in its investment program for next year amid soaring borrowing costs, news agency Tass reported, citing the transportation minister. An increase in war-related cargoes is also compounding existing bottlenecks, while sanctions weigh on cross-border payments. Those factors, along with longstanding logistical issues, are slowing the transport of goods like coal and aluminum.

Donald Trump said on Sunday he would nominate billionaire investor Stephen Feinberg to serve as deputy secretary of defence. Feinberg is the co-chief executive of Cerberus Capital Management LP, a private equity firm that has invested in defence contractors. He served on an intelligence advisory board during Trump's 2017-2021 White House term. Feinberg would serve as the No. 2 official at the Pentagon under Trump's choice for defence secretary, Pete Hegseth, a former Fox News host who faces questions about allegations of alcohol abuse and sexual misconduct. Hegseth has denied any wrongdoing.

Oil marketing companies (OMCs) weighed down the performance of corporate India in the September quarter. The weak performance of the refining segment, inventory losses and significant LPG under-recoveries contributed to the poor show. The three OMCs—Bharat Petroleum Corporation (BPCL), Hindustan Petroleum (HP) and Indian Oil Corporation (IOC)—reported a combined consolidated net profit of Rs.1,991.1 crore, falling by 92.8% year on year. The impact of OMCs on India Inc.’s overall performance can be assessed by comparing the aggregate PAT growth of all companies in the BSE 500 index and the index’s aggregate PAT growth (excluding OMCs). The data from Reuters-Refinitiv for 498 companies in the BSE 500 index shows a 1.7% y-o-y decline in the aggregate consolidated net profits (not adjusted for extraordinary items). After excluding OMCs, the aggregate net profit growth improves to 5.6% y-o-y. However, after the poor September quarter, the performance is set to improve in the second half of 2024-25. Recent reports from multiple brokerage houses, such as ICICI Securities, Prabhudas Lilladher, Antique Stock Broking, Motilal Oswal, and YES Securities, have been positive on the performance of OMCs.

Subscribe to enjoy similar stories. Deep Tech encompasses groundbreaking ideas rooted in science and engineering, tackling major global challenges. These innovations stem from fundamental research with specific commercial applications.

Subscribe to enjoy similar stories. The U.S. and China are in a high-stakes race, with the energy security of America and its allies hanging in the balance.

Subscribe to enjoy similar stories. Last month a 33-year-old woman in Xi’an, in central China, posted a video on social media that showed snowflakes falling on the ancient city. It was early in the year for such weather, so netizens shared the video widely.

Subscribe to enjoy similar stories. In the continuing chip war between Washington and Beijing, the U.S. has the clear upper hand on the most cutting-edge technology.

digital revolution in healthcare, ripple effects of the infra boom, and Artificial Intelligence (AI) technology-driven transformation. While global markets grapple with persistent inflation and geopolitical tensions, India’s domestic growth engine remains robust, bolstered by a substantial middle class, increased manufacturing capacity, and strategic policy reforms. The key to success will lie in identifying sectors that benefit from these structural tailwinds, which will ultimately drive investor returns.

Subscribe to enjoy similar stories. Our pages have been full of suffering in 2024. War has raged on three continents: the world watched Gaza, Lebanon and Ukraine most closely, but the fighting in Sudan was the most deadly.

Subscribe to enjoy similar stories. Nissan, once a symbol of Japan’s carmaking prowess, spent the past five years trying to regain its footing after the arrest of longtime leader Carlos Ghosn, only to find itself in a precarious spot again. The carmaker has been slashing jobs, cutting vehicle production and reporting lower profit.

In an evening post on Truth Social, Trump also warned he would not let the canal fall into the «wrong hands,» and he seemed to warn of potential Chinese influence on the passage, writing the canal should not be managed by China. The post was an exceedingly rare example of a U.S. leader saying he could push a sovereign country to hand over territory. It also underlines an expected shift in U.S. diplomacy under Trump, who has not historically shied away from threatening allies and using bellicose rhetoric when dealing with counterparts.

Centre for Strategic and International Studies (CSIS) and the Massachusetts Institute of Technology (MIT) has revealed that increasing US nuclear capabilities would not deter China from employing atomic weapons in a conflict over Taiwan, Taipei Times reported. The findings, published in a report on Friday, challenge current calls among policy experts to expand and modernise the US nuclear arsenal in response to China's growing military strength. The table top exercise, described as the first large-scale unclassified simulation of a potential nuclear war over Taiwan, explored scenarios where nuclear weapons might be used. According to the report, the US's nuclear capabilities, beyond ongoing modernisation efforts, had minimal impact on Beijing's willingness to deploy nuclear arms. Instead, the exercise highlighted the conditions under which either side might face pressure to resort to nuclear strikes, rather than the likelihood of such weapons being used.

Albania’s prime minister says the government will shut down video service TikTok for one year, blaming it for inciting violence and bullying, especially among children

Subscribe to enjoy similar stories. Eight years ago China lost a legal battle over its fantastical territorial claims in the South China Sea. An international tribunal ruled they had no basis.

Spot gold, reeling under the huge downside pressure due to lack of China’s stimulus details, strong US data and the Fed’s hawkish shift in its monetary policy announced on Wednesday fell below $2600, though it recovered some of its losses in the last two trading days of the week. The metal closed with a gain of 1.13% at $2624 on Friday. However, it was still down nearly 1% on the week. It traded in the range of $2583-$2693 in the week.

M1A2T Abrams tanks from the United States, marking the first US tank delivery to the island in 23 years, Radio Free Asia reported. According to Radio Free Asia, this shipment is part of a larger order of 122 tanks expected over the next two years. While the M1A2T is regarded as one of the most advanced main battle tanks globally, some experts have raised concerns about its suitability for Taiwan's mountainous terrain and dense urban areas. However, the tanks are seen as a major boost to Taiwan's defence capabilities, especially considering the ongoing tension with China. The M1A2T Abrams, an advanced version of the M1 Abrams produced by General Dynamics, is equipped with a 120mm smoothbore gun capable of penetrating armour up to 850mm thick. Its formidable firepower, enhanced armour, and speed make it a powerful asset for Taiwan's military.

White House said, while the State Department approved the potential sale to the island of $265 million worth of military equipment. The United States is bound by law to provide Chinese-claimed Taiwan with the means to defend itself despite the lack of formal diplomatic ties between Washington and Taipei, to the constant anger of Beijing. Democratically governed Taiwan rejects China's claims of sovereignty.

Oil prices settled little changed on Friday as markets weighed Chinese demand and interest rate-cut expectations after data showed cooling U.S. inflation. Brent crude futures closed up 6 cents, or 0.08%, at $72.94 a barrel. U.S. West Texas Intermediate crude futures rose 8 cents, or 0.12%, at $69.46 per barrel.

Frank McCourt is crafting a fundamental overhaul of TikTok's business model as part of a plan to bid for the Chinese-owned short-form video app, he told Reuters. McCourt, who formerly owned the Los Angeles Dodgers baseball team, said he has received verbal funding commitments totaling $20 billion from a consortium of investors to rescue the app from legal purgatory as it awaits a Supreme Court decision to determine if it will be forced to sell its US operations. His vision for TikTok includes revamping the company's advertising model so that users will have control over the ads and type of content they want to see. Over time, TikTok could earn revenue through ecommerce and licensing data for artificial intelligence training models — with users' consent — which will diminish the business' reliance on ads.