China Financial News

Economic Survey has projected a conservative growth of 6.5-7 per cent for the current fiscal year because of global uncertainties and various domestic challenges, experts said on Monday. The projection is lower than 8.2 per cent growth rate estimated in 2023-24 and tad lower than Reserve Bank's forecast of 7.2 per cent for the current financial year.

Joe Biden has pulled out of the US Presidential Election 2024 and endorsed Vice President Kamala Harris. The first vice president of the Indian- African descent is most likely to be nominated as the Democrat candidate for the November 5 election. However, a fundamental question in the US political system is: What will happen to the millions of dollars the incumbent president has collected as campaign funds? Will Kamala Harris get it? Will it be refunded to the donors? Will it go to the Democratic Party coffers? Or can Joe Biden take it for his personal use?

Domestic airlines cancelled 7,030 scheduled flights this year till May 31, according to the civil aviation ministry. The carriers are to operate 4,56,919 scheduled departures in 2024, as per the data submitted by the ministry to the Rajya Sabha on Monday.

The US presidential race was thrown open by President Joe Biden’s decision to step aside and endorse Vice-President Kamala Harris as the Democratic party’s candidate against Donald Trump. This brightens the ruling party’s odds of White House retention, but her being a woman—and “of colour" too—makes some folks wonder if her candidacy will do anything to stop Trump from cruising to victory.

Donald Trump’s recruitment of Ohio Sen. J.D. Vance as his running mate may be about the worst news the country could receive on the heels of the former president’s brush with a would-be assassin’s bullet.

Delhi's bustling Sadar Bazaar has become the latest target for a notorious gang employing a unique tactic to commit theft. Known as the "Khujli Gang," these thieves use specially formulated powders to induce intense itching, diverting their victims' attention and providing an opportunity to steal their belongings, a TOI report stated.

The traditional signal for a market bubble, as the popular adage goes, is when your cab driver or barber discusses stocks. The top-down variation of this indicator must be when finance ministry mandarins talk about asset allocation and profit booking. The Economic Survey 2024, tabled in Parliament by finance minister Nirmala Sitharaman on Monday, highlighted various drivers of the Indian economy and suggested policy measures to lift growth and safeguard economic resilience.

Railways has increased by 77 per cent over the past five years with significant investments in the construction of new lines, gauge conversion and doubling, the Economic Survey 2023-24 said on Monday. According to the survey tabled in Parliament by Finance Minister Nirmala Sitharaman, in the financial year 2019-2020, the capital expenditure was 1.48 lakh crore which was increased to ₹2.62 lakh crore in 2023-24.

Income Tax department has issued a warning about fake news that was published in a popular newspaper in Gujarat. The department stated that a clipping of the news is circulating on social media, claiming that the date for e-filing of ITR has been extended to August 31, 2024. The department clarified that this information is fake, and that the last date to file ITR for FY2023-24 is July 31, 2024.

Economic Survey FY24, prepared by the Department of Economic Affairs, cast worries over artificial intelligence possibly impacting workers across skillsets and thereby affecting India's economic growth rate.

Gautam Gambhir's plain-speak and Ajit Agarkar's lucidity is set to make for a heady combo as the new head coach and the chairman of selectors looked completely in sync while spelling out, in no uncertain terms, that days of cherry-picking series by citing workload management could be over. They explained certain tough calls while in a few things, they were subtle yet said enough to allow people to read between the lines.

China plus one: Will the dragon now make way for the elephant? As such, many small chemical producers shut down. For bigger companies, costs shot up and approvals took much longer. Many of these companies were catering to global demand, but the government’s tough measures caused the supply of several critical chemicals to dry up.

In July 1944, exactly 80 years ago, representatives of 44 countries met in an obscure New Hampshire village to negotiate the Bretton Woods Agreement that established the International Monetary Fund (IMF). For many, reaching the ripe old age of 80 would be cause for celebration. For the IMF, the anniversary only highlights the urgency of reform.

Chinese challenge. The Economic Survey has called it the Chinese Conundrum. The Survey highlights that it would be wrong to presume that India will automatically take over the manufacturing space vacated by China due to changes in global supply chains.

economic Survey 2024 tabled by Union Finance Minister Nirmala Sitharaman, revealed the job scenario in India and the steps government plans to take to meet the demands.

India builds up itself as a potential alternative for global companies as a manufacturing destination, the Economic Survey suggested that given Chinese dominance in global supply chains, it may not be the most prudent approach to think that India can take up the slack from China vacating certain spaces in manufacturing.

China, the world's biggest source of planet-warming greenhouse gases for most of the past two decades, is seemingly on the verge of bending its emissions curve from years of steep growth into a plateau. The implications for climate change could scarcely be greater. Since China's emissions surpassed those of the United States in 2006, China's global share has grown to almost a third — a huge number, even with population differences taken into account. A recent spate of data from China's government, as well as reports by energy analysts, have provided positive signs that while China's emissions may not decrease significantly, they also may not grow. Chinese President Xi Jinping had pledged to reach that turning point by 2030.

trade agreement (FTA) between the two countries, AEPC said on Sunday. The Apparel Export Promotion Council (AEPC) said to tap the growing potential, they are leading a delegation to participate in the India Tex Trend Fair (ITTF) in Tokyo. The three-day fair will begin from July 23 and over 200 exhibitors are participating. Some of the renowned Japanese brands, including Sumitomo Corporation, MUJI, Toyoshima, Marubeni, Mitsubishi, Koyo trading, United Arrows, MYK Fashion will be there to source their requirements, it said.

Biden's withdrawal from the U.S. presidential race injects greater uncertainty into the world at a time when Western leaders are grappling with wars in Ukraine and Gaza, a more assertive China in Asia and the rise of the far-right in Europe. During a five-decade career in politics, Biden developed extensive personal relationships with multiple foreign leaders that none of the potential replacements on the Democratic ticket can match. After his announcement, messages of support and gratitude for his years of service poured in from near and far. The scope of foreign policy challenges facing the next U.S. president makes clear how consequential what happens in Washington is for the rest of the planet. Here's a look at some of them.