China Financial News

India and Bangladesh signed 10 memoranda of understanding (MoUs) following the meeting of Prime Minister Narendra Modi and his counterpart Sheikh Hasina in New Delhi, with both leaders endorsing a vision statement on peace and prosperity that underscored longstanding ties between the two nations. Three of the pacts were renewals of existing accords. The Bangladeshi Prime Minister’s visit is the first by a head of state or government after the inauguration of the new Modi government and comes ahead of her trip to Beijing. The Modi-Hasina talks focused on boosting defence ties, management of the Mongla port in Bangladesh and cross-border power trade. Defence Services Staff College, Wellington, and Defence Services Command and Staff College, Mirpur (Bangladesh) will cooperate in the field of strategic and operational studies. ET had first reported last week that defence ties will likely get a boost at the meeting.

Infosys’ emeritus chairman. Be that as it may, “birds” perched across trees in China have been tweeting a story that isn’t music to those in China who have been pushing the infamous “996” system for decades on end: working 9 am to 9 pm 6 days a week. That’s actually two hours more than the duration of a working week suggested by our favourite task master. In viral videos, young people in China have been engaged in a serious, new form of sticking it to The Chair-Man. Reacting against Xi Jinping’s version of JFK’s “Ask not what your country can do for you, ask what you can do for your country” finger-wag, the new social media trend has young people—what policymakers insist on calling “youth”—record themselves with their hands tucked inside oversized t-shirts, perched on any piece of furniture, and then change the video backdrop to make themselves look like they’re sitting on trees. The effect is powerfully, even scarily, surrealistic.

Fornite update patch notes are available for download. Gamers will have OG map, new reload game mode, Pirates of the Caribbean collab in the 30.20 update to Chapter 5 Season 3. This update includes new weapons, and other key items, as per a report on Dexerto. Fortnite update v30.20 is being released on Saturday, June 22, 2024, at 1 AM (PT), and 3 AM (ET). There are a number of skins available for gamers. These skins include — «Pirates of the Caribbean» skins, 'Wolverine' skin among others, Dexerto reported.

India and Bangladesh on Saturday moved to bolster their defense relationship and signed agreements for expanding cooperation in maritime security, ocean economy, space, and telecommunication sectors, as New Delhi tries to present itself as a regional power and a counterweight to China. The agreements were signed during Bangladesh Prime Minister Sheikh Hasina's visit to India, the first foreign leader to visit New Delhi since Narendra Modi became the country's prime minister for a third term two weeks ago. Modi welcomed Bangladesh's decision to join his Indo-Pacific Oceans Initiative to expand and facilitate regional cooperation of India's maritime neighbors. He said the deals with Dhaka were part of his country's pursuit of a neighborhood-first approach.

Modi government in its third term might harden its posture against the neighbour with which relations have been hostage to heightened border disputes ever since skirmishes between Indian and Chinese forces along the border in 2020. PM Modi is likely to attend the Shanghai Cooperation Organisation (SCO) in Kazakhstan in the first week of July where he might run into China’s President Xi Jinping. Shortly before a possible meeting between the two leaders, India seems to be hardening its posture against China. The two meetings between Modi and Xi after the Galwan clashes at the G20 Summit at Bali in 2022 and the BRICS Summit in South Africa a year later failed to yield any positive results. Thousands of troops remain deployed on either side of the Sino-india border .

Swiss National Bank on Thursday and weaker than expected US data across the board, gold prices climbed to a two-week high level of $2,366 on Thursday as traders expect the US Federal Reserve to follow suit soon, more so as the European Central Bank has already begun slashing its benchmark rate. However, stronger than expected US PMIs released Friday led to a sharp decline in the yellow metal prices. Spot gold was trading at $2,319, down nearly 1.70% on the day, at the time of the MCX closing on Friday. The metal was down nearly 0.55% on the week. The MCX August contract was at Rs 71,594 (LTP), down 1.37%.

Developed by engineers from both countries, the Space Variable Objects Monitor (SVOM) will seek out gamma-ray bursts, the light from which has travelled billions of light years to reach Earth.

China is watching closely as Russia and North Korea deepen their relationship through a new defense pact, sparking concerns about potential shifts in power dynamics among the three authoritarian states.

dollar edged higher against other major currencies on Friday, hitting a fresh eight-week high against the yen as data showed a strong U.S. economy and as the Federal Reserve's patient approach to interest-rate cuts stood in contrast to more dovish peers. U.S. business activity hit a 26-month high in June amid a rebound in employment while price pressures subsided considerably, suggesting that a recent slowdown in inflation was likely to be sustained.

South Korea's port city of Busan on Saturday for joint military exercises this month with the host nation and Japan, the Yonhap news agency said. The leaders of the three nations agreed at a Camp David summit in August 2023 to hold annual military training drills as they condemned China's «dangerous and aggressive behaviour» in the disputed waterway of the South China Sea. Russian President Vladimir Putin visited North Korea this week for the first time in 24 years and signed a deal with leader Kim Jong Un that included a mutual defence pledge.

U.S. Department of Justice plans to focus an upcoming lawsuit against TikTok on allegations that the popular social media platform violated the privacy rights of children, rather than claims it misled adult users about its data privacy practices, according to a source familiar with the matter. The U.S. Federal Trade Commission investigated the potential violations by TikTok and its parent company ByteDance and referred the case to the Justice Department on Tuesday.

Bill Gates isn't the first name that you'd think of after watching Oppenheimer. But TerraPower, the nuclear reactor engineering company the Microsoftwala founded in 2006, began constructing a micro nuclear reactor plant, Natrium, in Wyoming this month. This marks a quiet, commercially untested class of nuclear reactors: small modular reactors (SMR).

As part of the upgrade, the ETF was renamed to EMQQ Emerging Markets Internet UCITS ETF, and its exposure to Chinese equities was capped at 45%. The reclassification followed EMQQ's inclusion of an ESG screen to the fund, which will also be reflected in its change of name. The decision to limit investments in Chinese equities was made in light of plans to broaden the ETF's exposure and capture a range of global emerging and developing markets. In addition to the cap on Chinese equities, investments in the South Korean market are also capped at 10%. HANetf to drop fossil fuel exclus...

India's foreign ministry said peace on its border with China was critical for relations to become normal, reacting on Friday to a Reuters report that New Delhi was not keen to restart direct flights with China amid a stand-off on their Himalayan frontier. China has been pressing India to restart direct passenger flights after a four-year halt, but New Delhi is resisting as the border dispute continues to weigh on ties between the world's two most populous countries, Reuters reported on Thursday. Asked about the lack of direct flights, foreign ministry spokesperson Randhir Jaiswal said «peace and tranquillity on the border is important» for ties with China to become normal. He did not elaborate.

Thermax, a leading energy and environment solutions provider, have been on an upward trend over the last seven months, producing a stellar performance and significantly enhancing shareholder wealth in a relatively brief timeframe.During this period, the company's shares have grown from ₹2,533 apiece to the current market price of ₹5,061, resulting in a gain of 100%. Notably, the company finished 6 out of 7 months in positive territory, with December witnessing the largest monthly gain with a return of 22%.

European Commission is planning to impose provisional duties on electric vehicles (EVs) produced in China ranging from 17.4% to 38.1%, on top of its standard 10% tariff for car imports. The duties are due to apply by July 4.

«As you mentioned, valuations, the market has certainly got more expensive and the usual story certainly when overseas investors look at India and some of them compare it to the likes of China and are hoping of a broader recovery in China, you have seen a little bit of profit, yes, a little bit of switching, but not much,» says Jonathan Schiessl, Westminster Asset Management. It has been fairly volatile from that crash that we saw on June 4th, the rally that we have seen post that. What is your own estimate with respect to where the Indian market is headed because a lot of people believe that valuations are sticky, the fundamentals and the positives are baked in, but some of the stock prices continue to surprise? Jonathan Schiessl: Yes, I would agree. I think we have had a pretty impressive recovery as you mentioned from that crash just a short few days ago. The market has pushed up a lot higher and it is interesting to note the more growth orientated markets globally have really pushed up, clearly in the US for example Nasdaq, but certainly in the emerging market space India does stand out as very strong recent gains.

LISBON—The Americans are here, and this sun-bleached coastal city is booming. At bars, hotels and restaurants that line winding cobblestone streets, business is so good that Mayor Carlos Moedas recently slashed local income tax for residents. With economic growth of 8.2% last year and a 20% rise in tax revenue from prepandemic times, he’s also made public transportation free for young people and the elderly.

NMDC, the country's largest iron ore producer, with a one-year target price of ₹319 apiece, as the brokerage believes that the company is in the sweet spot amid rising pellet export demand coming from China. The company's shares have been on a roll over the last 12 months, climbing from ₹104 apiece to the current level of ₹273, resulting in a multibagger gain of 162%. Also Read: Gold climbs 1% to two-week high on increased Fed rate cut expectationsThe brokerage highlighted several key factors impacting the steel and pellet markets.

China's yuan dipped to a fresh seven-month low against the dollar on Friday, hurt by portfolio outflows from mainland financial markets and speculation the central bank is gradually allowing the currency to weaken. By 0245 GMT, the yuan was just off a November low of 7.2613, having fallen from 7.2575 earlier in the day. At the lows, it was a mere 7 pips away from the weak side of the band in which the People's Bank of China manages the currency.

lithium-ion batteries that power everything from electric cars to smartphones. While China is the world’s top producer and exporter of the crystalline carbon, there’s been a push to grow a US supply chain. Oakland-based startup Molten Industries is working to build it by relying on something that’s cheap and abundant in the US: natural gas. The company has developed a specialized technique to break methane into graphite and hydrogen, the latter of which can be used as a source of clean energy. The effort is funded in part by a $25 million Series A financing round led by Bill Gates’s Breakthrough Energy Ventures (BEV). “This is at the intersection of two really important climate tech theme areas for us at Breakthrough: making batteries scaleable and more cost-effective to drive EV sales to grow, and on the other side, low-cost clean hydrogen,” said BEV Managing Director David Danielson.