China Financial News

Restaurant Brands International says it’s spending up to $45 million on two deals intended to boost its presence in China and spur growth in what the company sees as a promising market.

Due to a shock hazard, a California company is recalling nearly 1 million power adapters sold with sound machines marketed to help infants and young children sleep

Philippines Coast Guard has successfully tracked and challenged the Chinese Coast Guard (CCG) ship 5901 after it anchored in the Exclusive Economic Zone of Philippines. The ship was spotted in the South China Sea. Further, this ship is considered to the largest coastguard ship in the world and even larger than all most all of the US Coast Guard ships. It is said to be larger than even some of the regular ships of the US Navy fleet too. This deployment is yet another aggressive step taken by the Chinese and is being perceived as an act of intimidation and an utter disregard for international maritime law.

BRUSSELS: European manufacturers of hydrogen equipment have urged the European Union to step in to help the industry compete with cheaper Chinese producers, in a letter seen by Reuters on Monday. The companies, among them Thyssenkrupp Nucera, Siemens Energy, and Nel Hydrogen, want Brussels to do more to ensure Europe-made equipment powers the EU's plan by 2030 to produce 10 million tonnes of renewable hydrogen using electrolysers, machines that use electricity to split water to produce the green fuel. China is rapidly expanding its production of hydrogen equipment and is now home to 40% of the world's electrolyser manufacturing capacity, up from 10% last year, the letter said, adding that state subsidies were giving Chinese firms an edge.

IT outsourcing firms including Tata Consultancy Services Ltd. and HCL Technologies Ltd. will reveal how the much-awaited recovery is shaping up. With US and European companies remain weary of spending on new projects, TCS and HCL have clung to outsourcing projects aimed at offering cost savings. TCS results next week should show revenue growth picked up sequentially in the April-June quarter, consensus estimates show.

European Union is imposing sharply higher customs duties on electric vehicles imported from China. EVs are the latest flash point in a broader trade dispute over Chinese government subsidies and Beijing's burgeoning exports of green technology to the 27-nation bloc. The higher duties go into effect on Friday, pending a final decision in four month's time. Here are some basic facts about the EU's planned customs duties: What did the European Union do?

record 31.8% of Japanese stocks as of end-March, an industry survey showed on Tuesday, as a joint push by the Tokyo Stock Exchange and government for better corporate governance boosted the market's allure. The proportion rose from 30.1% a year earlier, and was the most since the Japan Exchange Group, which runs the Tokyo bourse, began conducting the survey in 1970.

Telegram Messenger LLP, a rival to WhatsApp whose blockchain plans have previously drawn the ire of US regulators. The Open Network (TON) blockchain has seized the crypto spotlight even amid a broader rally in the sector that saw Bitcoin hit new heights before a recent selloff.

India has successfully test-fired its first indigenous anti-radiation missile, the Rudram-1, developed by the Defence Research and Development Organisation (DRDO) for the Indian Air Force (IAF). This significant achievement underscores India's progress in developing advanced defense technologies crucial for modern warfare.

SEOUL—Jordan Daniels, a 31-year-old pianist and software engineer in California, posted a cover of a catchy new tune on TikTok. One aspect of the ditty, “Friendly Father," made Daniels uneasy: It is propaganda from North Korea, the communist country led by brutal strongman Kim Jong Un. “He’s like this dictator," Daniels said.

Domestic smartphone brand and contract manufacturer Lava International plans to decouple its production arm from the company to onboard business from other handset brands and help meet targets under the production-linked incentive (PLI) scheme for smartphones. But the company, which has never been able to meet its PLI smartphone targets since the scheme began in 2020-21, is hopeful of a turnaround in its manufacturing fortunes with the upcoming incentive package for component production, head of manufacturing, Sanjeev Agarwal, told ET. «Lava's performance in the ongoing PLI scheme is an internal concern, and we are working on plans to bridge the gap,» Agarwal said. The company veteran added that the challenge was to increase production by Rs 500 crore every year by either growing Lava's market share or supporting manufacturing for other brands.

Experts are optimistic about the sector’s long-term prospects, given the substantial investment and demand anticipated in the coming years. “The focus on modernising and upgrading defence systems, along with geopolitical tensions with neighbouring countries like China and Pakistan, means that the defence expenditure will continue to grow,” says Abhinav Kapadia, Research Analyst, Asit C. Mehta Investment Intermediates. “The growth is not just momentary. The sector has significant potential for future growth. The large order books of companies and the government favouring import substitution provide a strong foundation for sustained growth,” says Nirav Karkera,Head of Research, Fisdom. According to the Nomura report, the sector is expected to present an ordering opportunity worth $138 billion over the fiscal years 2024 and 2032. The report also classifies Hindustan Aeronautics Limited and Bharat Electronics as strong buys with an upside potential of 28% and 32%, respectively.

Boeing Max planes, market leader IndiGo awaits delivery of new and inspected Airbus 320 neo planes with P&W engines. Boeing has guaranteed Max deliveries till December, an executive at one of the airlines operating the plane said. “The delivery outlook beyond December 2024 looks grim, and may impact our expansion plans in 2025," the executive said on condition of anonymity.

A woman from China has been arrested at a Vermont lake bordering Quebec for trying to smuggle 29 eastern box turtles, a protected species, into Canada by kayak, according to Border Patrol agents.

«In the coming week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.

July 2024 will present hardships for many, but some will have greater health and prosperity. Based on their birth year within a 12-year cycle, each person has a Chinese zodiac. Like dogs and dragons, every animal has its advantages and disadvantages, as reported by Express.

PV Sindhu and HS Prannoy were on Friday handed easy groups for the Paris Games beginning on July 26. Sindhu, who won the silver medal at the Rio Games and followed that with a bronze in Tokyo Olympics, has been seeded 10th. The World number 13 has been drawn in Group M of the women's singles alongside Kristin Kuuba of Estonia (WR 75) and Maldives' Fathimath Nabaaha Abdul Razzaq. (WR 111). While Sindhu, who is vying for a third Olympic medal, has a relatively easy group, she could face China's sixth seed He Bing Jiao in the round of 16.

BEIJING — The market for initial public offerings in Hong Kong is set to improve significantly over the next five years, starting in the second half of this year, George Chan, global IPO leader at EY, told CNBC in an interview Wednesday.

Chinese automaker BYD has inaugurated its first electric vehicle plant in Thailand, part of the company's effort to expand into Southeast Asia while also tackling wealthier markets in the U.S. and Europe

Xiaomi's interest in exploring the burgeoning Indian EV market, potentially laying the groundwork for a future launch.Although Xiaomi has not yet disclosed specific plans for the SU7's release in India, the decision to present the car at this event suggests a strategic effort to gauge consumer interest and market dynamics. Celebrating a decade of operations in India, Xiaomi's venture into the EV sector could mark a new chapter in its expansion strategy.The SU7, also known as the Speed Ultra, represents Xiaomi's inaugural foray into the automotive industry, backed by a substantial $10 billion investment.

China’s authorities are investigating food safety concerns in cooking oils after an investigative report from local media revealed that tankers carrying soybean oil from a major state-owned company were also used to carry a form of coal