China Financial News

Jammu and Kashmir's Doda district today. Criticising the government, the Congress party shared a graphic showing that within just 38 days of the BJP government's third term, nine terrorist attacks have been reported. These attacks resulted in the deaths of 12 soldiers, injuries to 13 others, and casualties among civilians, with 10 deaths and 44 injuries recorded.

Scientists discovered indications of an accessible underground cave beneath the moon's surface. The underground cave is close to where Apollo 11 landed. It is 250 miles (400 kilometers) from where Neil Armstrong and Buzz Aldrin landed 55 years ago. Researchers analyzed radar measurements taken by NASA's Lunar Reconnaissance Orbiter and matched the results to lava tubes on Earth. They published their findings in the journal Nature Astronomy. According to the scientists, the radar data merely exposes the early phase of the subsurface hollow. They estimate it to be at least 130 feet (40 metres) wide and tens of yards (metres) long, if not more.

“Banks should provide liquidity to engineering industries, specifically MSMEs, for purchase of new machines, equipment and technology updates so that smaller engineering firms can produce world-class products, both in volume and at affordable prices to compete internationally,” says Arun Shukla, MD of Vikramaditya engineering, a Baddi-based MSME engineering company. He advocates increased government incentives to acquire capital goods and machinery; these are now imported, putting a significant burden on engineering firms’ working capital. “The finance minister should allocate substantial funds for industrial infrastructure for MSME the way China has done, for example, for common effluent plants, testing laboratories, logistic hubs, uninterrupted electricity, etc. Unnecessary statutory and regulatory compliance burden hurting productivity needs to go away. Also, labour reforms should be imposed strictly so that exploitation can be reduced. Product-wise MSME clusters should be announced. Collateral-free funding should be available at a low interest rate for development, automation, research & development and expansion purposes,” Shukla adds.

Apple’s sales in India leapt 33% to nearly $8 billion in 2023-24 over what it recorded the previous year, according to a Bloomberg report on Monday, with iPhones notching up over half that total. While the company’s exports of locally assembled handsets were worth far more at $14 billion last year, the brand’s rising domestic offtake speaks of success on another front: its grand challenge of converting an Android-dominated market for smartphones to its iOS devices.

Samsung, in January this year, brought along Galaxy AI—a suite of features that add AI across voice calls, audio recording, photography, general web browsing and more. And, in the past two months, China-headquartered Oppo and Xiaomi have also made moves to bring similar AI features to their phones, too.

Niti Aayog has said. Niti Aayog, in a report titled 'Domestic Manufacturing Capacity & Potential Cyber Security Challenges in the Wind Sector and Way Forward', said wind turbines' capability to exchange information through power plant controllers (PPC) poses a significant cybersecurity threat. «The PPC software is of critical importance and associated with risks — used in the device which connects the wind farm directly to the national/state grid. »PPC OEMs of foreign origin, especially neighbouring countries, need to be examined, and a call needs to be taken for their suspension while not adhering to the protocol," it said.

Key takeaways:

Bitcoin (BTC), the world’s most valuable cryptocurrency, began the new week with significant bullish momentum, surging past the $62,000 mark. This recent uptick in BTC’s price has reignited interest in Bitcoin price predictions.

Images of the moment have already been splashed across the world’s front pages and papered many corners of the internet

Indian rupee weakened against the dollar as the greenback strengthened globally due to investors’ risk aversion after an assassination attempt on former US president Donand Trump and as weakness in the Chinese yuan weighed on Asian currencies, dealers said. The rupee closed at 83.59 against the US dollar on Monday, versus the previous close of 83.53, LSEG data showed. The dollar index touched a high of 104.32

The U.S. and Europe would love to cut their dependence on China for rare earths. Standing in the way of that ambition are low prices and Beijing’s willingness to throw its weight around to keep the market down.

British luxury fashion house Burberry has appointed Joshua Schulman as its new chief executive officer

paddy area under climate-resilient seeds, a senior agriculture ministry official said on Monday. The move comes as erratic rainfall patterns have become increasingly common in recent years, threatening rice production in the country. India, the world's second-largest rice producer after China, cultivates paddy on over 410 lakh hectares during the kharif season. Speaking on the sidelines of ICAR's 96th Foundation and Technology Day celebrations, ICAR Director General Himanshu Pathak said, «While we have achieved 75 per cent coverage of climate-resilient seeds in wheat cultivation, the adoption in paddy is still limited.»

India looks forward to being a prominent player in the global supply chain, Finance Minister Nirmala Sitharaman who will be presenting the Budget for record-seventh time, may have to look at introducing a host of measures to strengthen the manufacturing sector and an improvement in the delivery routes. “With the help of policies, India must increase its share in global manufacturing chains,” Finance Minister Sitharaman said recently, adding that India needs to have greater sophistication in product manufacturing, and the government needs to see how best this can be given policy support. «I also want to underline, much against the advice given by some economists who say India should no longer be looking at manufacturing or ramping up manufacturing, that the country must also increase, with the help of policies, its (manufacturing) share in the global value chains,» she said.

Indian Navy's frontline warships carried out a mega military exercise with the Theodore Roosevelt carrier strike group of the US in the Indian Ocean, demonstrating the growing strategic congruence between the two sides in the key maritime domain. The USS Theodore Roosevelt is a Nimitz-class, nuclear-powered, aircraft carrier of the US Navy. A carrier battle group or carrier strike group is a mega naval fleet comprising an aircraft carrier, accompanied by a large number of destroyers, frigates and other ships. The Theodore Roosevelt carrier strike group operated alongside forces from the Indian Navy in the Indian Ocean on July 12, the US embassy said in a readout.

China’s extraordinary growth over three decades was fuelled by exports and domestic capital spending. At the peak, it enjoyed an 8% net export surplus consistently, which led to an accumulation of massive foreign exchange. On the other hand, its very high domestic savings rate was deployed to build infrastructure and expand industry.

Mint. “Besides the domestic market, we are also looking at exports to the Middle East, Asia, Africa, Europe and the U.S. These exports contributed to 14% of our revenues in FY24 from 4% a year earlier," Sany’s managing director Deepak Garg said.

Asian shares began the week trading mixed as China reported that its economy expanded at a 4.7% annual pace in the last quarter

China says its economy expanded at a slower-than-forecast 4.7% annual rate in the last quarter

BEIJING — China's National Bureau of Statistics on Monday said the country's second-quarter GDP rose by 4.7% year on year, missing expectations of a 5.1% growth, according to a Reuters poll.

renewable energy has been going through a dry patch. Generation from solar farms roughly tripled between 2018 and 2023, while the output of wind turbines almost doubled. That provided enough extra clean energy to power Japan and Russia, put together. Meanwhile, the hydroelectric dams that generate about one-seventh of the world’s electricity stood still: The additional 52 terawatt-hours in 2023 was only enough to fuel Greece. That’s not overly surprising. Hydro’s problems resemble those of the other veteran form of clean power, nuclear. Unlike wind and solar, it’s been an established technology for decades, so much of its growth potential has already been exploited. Like nuclear, it’s dependent on the building of costly and time-consuming projects to move forward, and shows little sign of reducing its (already low) costs. Compounding the problems, a two-year drought connected to the La Niña climate cycle during 2022 and 2023 caused a collapse of generation in China, home to about a third of the world’s hydro dams.