China Financial News

Scoot flight from Singapore to the Chinese city of Guangzhou hit turbulence. One person was taken to the hospital, The Straits Times reported. Scoot said the flight encountered turbulence as it was approaching Guangzhou on Friday morning, adding that the Boeing 787-9 Dreamliner aircraft landed uneventfully at 9.10 am local time. Scoot flight TR100 departed from Singapore around 5.45 am, The Straits Times said, citing data from flight-tracking website FlightRadar24.

traders cut bets ahead of the crucial US jobs data scheduled to be released after trading hours in Mumbai. Speculation that foreign funds were selling ahead of the deadline to comply with the ultimate beneficial ownership norms on Friday also dented sentiment. The regulations require overseas investment vehicles to provide granular details of all entities holding any ownership, economic interest, or exercising control, failing which they must liquidate their domestic holdings.

PhysicsWallah is in the final stages of closing a $150-million funding round led by Asian hedge fund Hornbill Orchid that will value the Noida-headquartered edtech unicorn at $2.8 billion, over 150% higher than its previous valuation, said people briefed on the developments. While Hornbill Orchid is likely to invest $70-80 million, a big chunk of the remaining amount is expected to come from venture capital firm Lightspeed that has previously backed edtech rival Byju’s, they said. “The round is nearly done and Hornbill Orchid is leading it, putting the biggest amount of capital in the round,” one of the persons said.

The Dutch government is expanding export restrictions on machines that make advanced processor chips that can be used in weapons systems

local kirana stores to operate and sell online. The e-commerce platform specialises in the fresh produce category which includes fruits, vegetables, meats, and dairy. It has recently introduced video-based shopping on the lines of content-commerce trends in China.

Dutch government on Friday said it would expand export licensing requirements for some ASML chipmaking equipment, effectively retaking oversight over it from the United States and aligning the two countries' policy. The United States had previously unilaterally regulated those tools, as part of its campaign to restrict access to advanced technology by Chinese chipmakers who could contribute to Beijing's technological and military advances. ASML said in a statement that it did not expect the change in oversight to impact earnings this year or in the future.

Piyush Goyal on Friday said he has invited the steel industry to discuss about the «unfair» competition that some of them are facing to take appropriate steps with a view to promote the sector's growth. Certain steel industry players have raised concerns over rising imports from China at lower rates. «I have invited the steel industry...to understand the unfair competition that some of them are facing and take appropriate measures so that the steel industry remains vibrant, continues to grow and adds jobs to the Indian economy,» Goyal told reporters here. On September 5, he mooted the idea of introducing a border adjustment tax to protect the domestic players by providing a level-playing field against increasing imports.

SHANGHAI — China's policymakers need to focus on boosting domestic demand, Yi Gang, former head of the People's Bank of China, said Friday at the Bund Summit in Shanghai.

infrastructure projects in Africa may be over, analysts say, with Beijing seeking to shield itself from risky, indebted partners on the continent as it grapples with a slowing economy at home. Beijing for years dished out billions in loans for trains, roads and bridges in Africa that saddled participating governments with debts they often struggled to pay back. But experts say it is now opting for smaller loans to fund more modest development projects.

Communist Party of India (Marxist) General Secretary Sitaram Yechury, who is under treatment for a severe lung infection at the Delhi AIIMS, is stable and showing a positive response to treatment, the party said on Friday. «Comrade Sitaram Yechury, General Secretary of Communist Party of India (Marxist), has been under treatment in the intensive care unit of the All India Institute of Medical Sciences, New Delhi.

Arvind Sanger, Founder & Managing Partner, Geosphere Capital Management, says India benefits from moderate crude prices, but it does not benefit when crude prices are showing weakness because there are concerns about global recession. So you should be careful what you wish for. You do not want crude to be crashing to a level that would suggest that global economies are in a concerted fashion going through a major slowdown. If crude stays moderate in the $70-80 range but does not meaningfully roll over, that would be probably the best outcome from an Indian standpoint.

Hong Kong and was moving toward a Chinese island province where it was expected to make landfall Friday, forcing many aspects of life in the region to a halt. Trading on the stock market, bank services and schools were halted in Hong Kong after the city's weather authority raised a No. 8 typhoon signal for Typhoon Yagi, the third-highest warning under the city's weather system. Yagi, with maximum sustained winds of 230 kilometers (142 miles) per hour near its center, forced more than 250 people to seek refuge at temporary government shelters and led to cancellations of more than 100 flights in the city. Heavy rain and strong winds overnight felled dozens of trees across the financial hub before the weather gradually calmed on Friday morning. The weather forecaster was expected to downgrade the typhoon signal in the afternoon.

Geoff Dennis, Independent Emerging Markets Commentator, says the Chinese economy is struggling, and there is no obvious reason why that growth rate is going to turn upward in the near term. Also, although the US economy is in reasonable shape and ought to avoid recession, the chances of an acceleration in growth in the US are relatively limited. So, he does not see a big surge in oil prices despite delay in output increase. What is your reading of OPEC Plus's decision to stall the hike in production by two months? This has had a knee-jerk reaction on crude oil prices, which were on a very slippery slope. But do you think the price rise will be sustained? Geoff Dennis: What is happening here is that they are forming the bottom end of a trading range. It was inevitable at some point that OPEC Plus would delay this output increase because there have been several factors pulling crude oil prices lower in the last few weeks, including worries about the US economy, worries about the Chinese economy, expectations that Libyan oil will come back on the market shortly – although that is not a big factor. Also, US inventories have been pretty strong.

European Union's climate change monitoring service said on Friday, as global warming continues to intensify. The boreal summer of June to August this year blew past last summer to become the world's warmest, the Copernicus Climate Change Service (C3S) said in a monthly bulletin. The exceptional heat increases the likelihood that 2024 will outrank 2023 as the planet's warmest on record.

BEIJING — China's wealthy are increasingly looking for ways to move capital outside the mainland to pursue business opportunities, rather than just chasing investment returns, according to asset managers and consultants.

New York Stock Exchange, US stock market on Thursday witnessed another tepid day in trade as S&P 500 and Dow Jones both fell. Wall street in track for their worst week since April. The S&P 500 slipped 0.3 per cent for a third straight drop, and the Dow Jones Industrial Average lost 219 points, or 0.5 per cent. The Nasdaq composite held up better than the rest of the market and added 0.3 per cent thanks to gains for Tesla and a handful of other Big Tech stocks. The S&P 500 dipped 16.66 points to 5,503.41. The Dow dropped 219.22 to 40,755.75, and the Nasdaq composite rose 43.36 to 17,127.66.

India has started producing blockbuster clavulanic acid for the first time in what could reduce its dependence on China for APIs. Mumbai-based Kinvan has started producing clavulanic acid that goes into making Augmentin, used to treat various bacterial infections, people in the know told ET. Industry sources say the company has started producing small batches and will begin full scale production of 300 metric tons towards end of this year. Kinvan will invest ₹447.17 crore to build 300 mt capacity plant to produce clavulanic acid.

While the U.S. Border Patrol has arrested tens of thousands of Chinese at the U.S.-Mexico border over the past year, thousands are making Mexico their final destination

oil output increase for October and November after crude prices hit their lowest in nine months, three sources from the producers' group told Reuters on Thursday. Oil prices have been falling along with other asset classes on concerns about a weak global economy and soft data from China, the world's biggest oil importer. «Done,» one of the sources said. The three sources declined to be identified by name.

Nearly five years after COVID-19, a new analysis by The Associated Press shows that U.S. regulators are struggling to address a massive backlog of uninspected pharmaceutical plants

Nature has shed light on the potential dangers posed by animals farmed for fur, food, or traditional medicine. Species such as raccoon dogs, mink, and muskrats, which are commonly farmed for their fur, have been found to harbor numerous viruses, some of which could pose significant risks to human health. The study's findings suggest that these animals could serve as reservoirs for emerging pathogens, potentially sparking new pandemics. Researchers collected samples from 461 individual animals found dead due to disease on fur farms across China between 2021 and 2024. These animals included minks, raccoon dogs, foxes, guinea pigs, and rabbits. The team examined tissues from the lungs, intestines, and other organs of these animals, searching for viral pathogens. Their investigation revealed a startling 125 different viruses, 36 of which were novel. Even more concerning was that 39 of these viruses were classified as high-risk, meaning they had the potential for cross-species transmission, including to humans. Among the viruses detected, several types of influenza A virus were found in guinea pigs, minks, and muskrats, including H1N2, H5N6, and H6N2. Additionally, multiple coronaviruses were identified, expanding the known host range of these viruses. Seven different species of coronaviruses were detected though none were closely related to SARS-CoV-2, which causes Covid.