China Financial News

Tesla plans to produce a six-seat variant of its Model Y car in China from late 2025, two people with direct knowledge of the matter said, as the U.S. automaker strives to increase the appeal of its best-selling yet aging electric vehicle (EV). Tesla has asked suppliers to prepare accordingly for a double-digit increase of Model Y output at its Shanghai factory, said one of the people, who declined to be named as the plan is not public. Tesla did not immediately respond to a request for comment.

Defence sources indicated that the Defence Acquisition Council (DAC) is expected to approve issuing a tender worth approximately Rs 70,000 crore to Indian shipyards under the 'Make in India' initiative, including private sector shipyards.

oil prices slid in Asian trade on Tuesday as concern about a sluggish economy in China bringing down demand outweighed the impact of a blockade of oil production facilities in Libya. Brent crude futures were down 37 cents, or 0.48%, to $77.15 a barrel by 0156 GMT.

What makes you so bullish on India?

China is currently in a major economic fix, and the biggest problem in their kitbag is youth unemployment, which needs to be addresses at the earliest in order to combat any other related pressing issue around the Chinese economy. New unproductive forces play a major role in the unemployment rise of the country, that has the potential to push the country on the brink of recession, feel experts.

Mint earlier reported about India considering imposing retaliatory tariffs on EU exports in response to the bloc’s proposed carbon tax that could disrupt over $8 billion worth of Indian metal exports to the EU. As the EU’s CBAM has been in discussion, Yadav said, “until a proposal comes, we cannot take a call. Our stand on this will be protecting the larger interests of all developing nations." “Before COP29, pre-consultations are taking place.

₹98,924 crore in FY23. China’s electronics conglomerate BBK Group, which operates five gadget brands in the country, maintained steady revenue at ₹81,870 crore in FY23 despite sales volumes falling significantly. Apple India clocked ₹49,321 crore in revenue in FY23.

Daisuke Hori, a 40-year-old entrepreneur from Hyogo prefecture, has adhered to a sleep routine of just 30 minutes per day for the past 12 years in an effort to «double» his life. Hori claims to have trained his body and brain to function normally on minimal sleep, significantly improving his work efficiency. On average, the human body requires around 6-8 hours of sleep for optimal health, with insufficient sleep negatively impacting mood and daily functioning. Experts agree that consistently getting 6-8 hours of sleep can enhance mood, cognitive function, and overall health. However, Daisuke Hori's sleep regimen challenges this notion. His sleep routine and its purported benefits were reported by the South China Morning Post. Mr. Hori stated, «As long as you exercise or drink coffee an hour before eating, you can stave off drowsiness.» He believes that high-quality sleep is more important for maintaining focus, especially for individuals who require sustained concentration in their work. According to him, doctors and firefighters benefit from high-quality sleep despite having shorter rest periods. «People who require sustained concentration in their work benefit more from high-quality sleep than from long sleep. For example, doctors and firefighters have shorter rest periods but maintain high efficiency,» he explained.

Oil activities on the shores of Uganda’s Lake Albert have triggered widespread suffering among locals facing forced displacement and other violent abuses, a U.S. climate watchdog said Monday

Volkswagen says it's not getting the cost reductions that it needs — and won't rule out plant closings in its home country Germany

Asia’s latest factory activity data showed some loss of momentum midway through the third quarter, but a broad continuation of growth in output and orders. Views among manufacturers on the sector’s outlook were mixed amid uneven price and demand developments through the region, though many were cautiously upbeat. S&P Global’s manufacturing purchasing managers index readings for Japan and South Korea signaled improvement in August, while those for India, Thailand, Taiwan and Malaysia indicated expansions in manufacturing, though at a slower pace.

Sheikh Hasina resigned and fled to India, is awash with anti-India sentiment. That's because Hasina, who has been friendly with India, has taken shelter in India and an Islamist opposition including the main opposition party, the Bangladesh Nationalist Party (BNP), and Jamaat-e-Islami feel empowered after Hasina's ouster. In fact, the BNP, which used to provide launch pads to anti-India terrorists during its rule, had started an «India Out» campaign months before Hasina's ouster. The BNP was understood to have taken a cue from Maldives ruling party that launched the “India-Out” campaign to win presidential polls last year. While Maldives President Md Muizzu’s “India Out” campaign was allegedly backed by China, the BNP is seen to be backed by Pakistan and many Western countries. While the interim government has said it will cooperate with India, anti-India sentiment has only increased along with attacks on the Hindu minority. Recently, one of the advisers to the interim govt, Mohammad Nahid Islam, blamed India for floods in Bangladesh. Islam alleged that flooding of districts on the eastern borders of Bangladesh had been caused by the opening of Dumbur dam upstream of the Gumti river in Tripura. India refuted his allegations.

Nilesh Shah, MD, Kotak AMC, says investors can’t go to Russia because of Ukraine; to China because of Taiwan; to South Africa because of social strife, or to Brazil because of the communist government. In the emerging market, there are very limited choices and India is one bright option. So with Triveni Sangam of flows, fundamentals, and sentiment, the downside is limited but expect volatility over the next 3, 6, 9, and 12 months. Shah also says this is the time when you should be long duration because rates are going to be cut. You should be long gold because central banks are buying gold. And you should be neutral weight to equity with some bias towards large caps. Sensex and Nifty are once again hitting record highs every day, even when there are worries about not-so-great Q1 earnings. Where do you think we are headed? Nilesh Shah: If we take a 5-year, 10-year view, no doubt the only direction is up. The economy will do well and markets will do well. If you are taking a 3, 6, 9, or 12-month view, I have no idea where we are headed. On one side, we believe the correction in the market will be shallow and short-term because there is Triveni Sangam of fundamentals, flows, and sentiment.

oil exporter Saudi Arabia is expected to cut prices for most of the crude grades it sells to Asia in October after Middle East benchmark Dubai slumped last month, industry sources said on Monday. The October official selling price (OSP) for flagship Arab Light crude is expected to fall between 50 and 70 cents a barrel, three of five refining sources said in a Reuters survey, to track a similar trend for Dubai price spreads last month. Such a price cut would also reflect weak refining margins especially in China where sluggish manufacturing and property sectors are squeezing fuel demand, the sources said.

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China’s property crisis has hit local governments hard, drying up a key source of income as land sales crumble. Fiscal reform plans have sparked hope relief is on the way, but economists see little progress. Cash-strapped and indebted, regional governments are seeking alternative revenue streams to compensate for falling land and tax income.

Realme 13 5G, Realme 13+ 5G launched in India: Check price, specifications and moreRealme Narzo Turbo 5G is confirmed to be powered by the MediaTek Dimensity 7300 Energy chipset, which is claimed to be the fastest chipset in its segment and boast an Antutu score of over 7,50,000. Notably, this chipset was last seen powering the Oppo Reno 12 Pro and CMF Phone 1.

Kerala Congress leader Simi Rose Bell John was expelled from the party, BJP spokesperson Shehzad Poonawalla said on Monday that Congress, instead of getting the matter investigated, expeller a leader who were fighting for women. In a self-made video posted on X, Ponnawalla questioned Congress leader Priyanka Vadra, «Will she stand up for Simi Rosebell John or will she keep quiet? »The Hema Committee report in Kerala has revealed many secrets. Left MLA Mukesh has also been seriously accused of sexual abuse and rape. The Communist Party of Kerala does not do anything about this but the Congress has shown its anti-women face. Party's senior leader Simi Rosebell John only said that casting couch like thing happens in Kerala Congress too where women are exploited. So the Congress fired her instead of getting it investigated," he said.

Asian shares are mixed in cautious trading ahead of the Labor Day holiday in the U.S., when stock exchanges will be closed

Taipei [Taiwan], September 2 (ANI): Taiwan's Ministry of National Defence (MND) has said that 18 Chinese military aircraft, eight naval vessels and two official ships were detected operating around Taiwan from 6 am (local time) on Sunday to 6 am (local time) on Monday. Among them, 15 of the People's Liberation Army's (PLA) aircraft crossed the median line of the Taiwan Strait and entered Taiwan's northern, southwestern, and eastern Air Defence Identification Zone (ADIZ). In response to Chinese incursions, Taiwan mobilised its aircraft and naval vessels while deploying coastal-based missile systems to closely monitor the situation and deter any potential threats.

Taiwan President Lai Ching-te said in an interview with Taiwanese media. China views democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Taiwan's government rejects those claims, saying only the island's people can decide their future. Speaking in an interview with a Taiwanese television station broadcast late on Sunday, Lai, who China calls a «separatist», brought up the 1858 Treaty of Aigun in which China signed over a vast tract of land in what is now Russia's far east to the Russian empire, forming much of the present day border along the Amur River.