China Financial News

Raj Kumar Pal struck a hat-trick as title-holders India sealed a semifinal spot after thrashing Malaysia 8-1 for their third consecutive win in the Hero Asian Champions Trophy, here on Wednesday. Apart from Raj Kumar (3rd, 25th and 33rd minute), Araijeet Singh Hundal (6th and 39th minute), Jugraj Singh (7th minute), skipper Harmanpreet Singh (22nd minute), and Uttam Singh (40th minute) sounded the board for India. For Malaysia, Akhimullah Anuar (34th minute) managed the solitary strike. India are currently on top of the standings with nine points from three wins.

A European business group says China must reprioritize economic growth and reforms and boost investor confidence by leveling the playing field for all companies in the country

China’s exports grew for a fifth consecutive month

Starbucks’ new chairman and CEO says he plans to focus on improving service and reestablishing the struggling coffee giant's stores as gathering places

BMW is lowering sales and earnings targets for the 2024 fiscal year, in a move the luxury German car maker said was partially triggered by hefty expenses of addressing a braking system recall that impacts more than 1.5 million vehicles worldwide

BEIJING — Chinese artificial intelligence models may be at least half a year behind those developed in the U.S., but Chinese AI apps will likely take off much faster, said Kai-Fu Lee, former head of Google China.

ONGC and Oil India (OIL) dropped by 3% to Rs 287.30 and 6.4% to Rs 570, respectively, on BSE following a sharp decline in crude oil prices, which usually negatively impacts their profit margins. Crude oil prices have plummeted to nearly three-year lows following a downward revision of demand forecasts by OPEC, primarily driven by reduced Chinese demand. In its monthly report released yesterday, OPEC lowered the global oil demand forecast for 2024 to 2.03 million barrels per day, down from the previous estimate of 2.11 million barrels per day.

South China Morning Post, the Hong Kong daily, reported that the Malaysian Retailers Association has publicly called on Kuala Lumpur to significantly raise duties on imported goods costing $115 or less from the 10% levy imposed in January. The retailer’s association estimates it is losing 30% of its business to e-commerce portals selling goods shipped in from China. “Because we have not tightened up any rules or regulations, Malaysia has become a dumping ground for excess capacity from China," Ameer Ali Mydin of the Malaysian Retailers Association told the newspaper.

inflation) diminishes gold’s appeal: from a yield perspective, investors are better off holding treasury bonds rather than a non-yielding asset like gold. Read this | Are sovereign gold bonds the new ‘gold standard’ in investing? In recent months, however, US bond yields have declined, driven by expectations of easing monetary policy, and they’ve fallen more than inflation. From January to August, the two-year treasury yield dropped by 33 basis points (bps), and the 10-year yield fell 24 bps, while inflation decreased by 20 bps between January and July.

Donald Trump and Kamala Harris on Inflation: During the high voltage debate that could help in shaping 2024 Presidential elections, the two showcased differing view points on tax cuts, trade wars and more. Trump, 78, criticized Harris for the persistent inflation during the Biden administration's term, though he overstated the level of price increases. He also pivoted quickly to his top issue, immigration, claiming again without evidence that immigrants from «insane asylums» are crossing the U.S. southern border with Mexico.

Sri Lankan elections in India’s Southern neighbourhood with less than a fortnight left for the Presidential polls there. In what promises to be a closely contested fight, Sajith Premadasa, formerly of United National Party, and Anura Kumara Dissanayake of Janatha Vimukthi Peramuna. Incumbent President Ranil Wickremasinghe is fighting an uphill battle. However, can still close the gap and win the polls in the second preference vote. Mahinda Rajapaksa’s son Namal is the other main contender, but may not stand a chance in this election, according to observers of Lankan elections. On a recent visit to Colombo, NSA Ajit K Doval met all four candidates and New Delhi is keeping a close eye on elections whose outcome will enable further strategic and economic partnership.

tech firms like Google, Adobe, Microsoft and Meta Platforms will testify next week at a U.S. Senate Intelligence Committee hearing on election threats. Google parent Alphabet's global affairs president Kent Walker, Meta's global affairs president Nick Clegg, Microsoft President Brad Smith and a representative from Adobe will testify at the Sept. 18 hearing, a spokesperson from the office of Senator Mark Warner, who chairs the panel, confirmed. U.S. officials have been attempting to crack down on efforts to spread disinformation and misinformation online surrounding the Nov. 5 election in which Democratic Vice President Kamala Harris and Republican former President Donald Trump will face off. Polls show a tight contest.

Two US officials who wanted to be anonymous, told the publication that Qin, the former politician has now employed at World Affairs Press. It is a publishing company which is associated with China's foreign ministry. The officials shared with the publication that the demotion took place suddenly. One described it as a «fall from grace» and another one claimed it ,«he's off the hook.» One source stated to the post, «He's not going to jail, but his career is over.» Also Read: Are Taylor Swift's fans or Swifties disappointed with her choice of friends?

Condoleezza Rice has said. There is a need to move away from a “loyalty test every five minutes” about who is meeting with whom, she said at the Indus X (India-United States Defence Acceleration Ecosystem) summit to promote joint defence innovation at Stanford University. Rice acknowledged that there is a historical relationship that India has with Russia when it comes to weapon systems and the Pentagon needs to do more to leverage ties with India.

S Jaishankar on Tuesday said India is open to pursuing business with China, but the question is in what sector and under what terms. He was speaking in Berlin at Germany's annual ambassadors' conference. Jaishankar stated that China was the world's second-largest economy and a premium manufacturer.

Squeezed by an economic downturn and a rapidly aging population, China took a step toward raising its unusually low benchmarks for when people should retire. China has one of the lowest retirement ages among major economies, letting women retire as early as 50 and men at 60—policies unchanged since the 1950s. Beijing has long said it wants citizens to work longer, but has repeatedly put off any policy changes for fear of social pushback.

Wetland Virus.

inflation data and a widely anticipated U.S. presidential debate, even though both their outcomes are unlikely to affect overall monetary policy. The Federal Reserve is expected to cut interest rates next week for the first time in more than four years. What is still up for debate is the size of the rate cut, with the fed funds futures market pricing in a 73% chance of a 25 basis point cut at the Sept. 17-18 policy meeting and a 27% probability the Fed might do 50 bps, according to LSEG calculations..

OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group's second consecutive downward revision. The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise by 2.03 million barrels per day (bpd) in 2024, down from growth of 2.11 million bpd it expected last month. There is a wider than usual split between forecasters on the strength of oil demand growth in 2024, partly due to differences over China and more broadly over the pace of the world's transition to cleaner fuels. The reduction still leaves OPEC at the top end of industry estimates.