China Financial News

Putin has approved a plan to jointly build the International Lunar Research Station with China, an ambitious space project which was announced previously by the two close neighbours. The document connected with the International Lunar Research Station (ILRS) was published on a Russian official legal information portal on Wednesday, Russia's state-run Sputnik news agency reported. The ILRS will consist of sections on the lunar surface, sections in lunar orbit and sections on Earth, and it will be built in two phases, Wu Weiren, chief designer of China's lunar exploration programme said in April this year. According to Wu, the first phase of the ILRS construction project will see a basic station built by 2035 in the lunar south pole region. The second phase will see the expansion of the station, set for completion by 2045, the official Xinhua news agency quoted Wu as saying.

Pope Francis became the first pontiff to address the Group of Seven nations on Friday, raising the promise and perils of artificial intelligence to the leaders of the world's leading industrialized nations. Francis addressed the G7 and other invited countries at their annual summit in southern Italy. When he arrived, the room, which had been boisterous with delegations, went quiet as he greeted each of the G7 members and the expanded guest list.

Solar Industries, based in Nagpur, has delivered the first batch of indigenously developed Nagastra-1 Loitering Munitions to the Indian Army, marking a significant milestone in India's defense preparedness and self-reliance in military technology.

liquidators of China Evergrande Group are investigating some of the property developer's service providers including its former auditor PricewaterhouseCoopers, to potentially recoup losses for creditors, three sources said. Evergrande, once China's largest property developer, was ordered to be liquidated by a Hong Kong court in January, after it failed to deliver a concrete restructuring plan for its $23 billion worth of offshore debt deemed to be in default.

Leaders of the Group of Seven leading industrialized nations are turning their attention to migration on the second day of their summit

Chevron Corp., Shell Plc, BP Plc, TotalEnergies Se, ConocoPhillips and Eni SpA? How about Tongwei Co., GCL Technology Holdings Ltd., Xinte Energy Co., Longi Green Energy Technology Co., Trina Solar Co., JA Solar Technology Co., and Jinko Solar Co.? If the former names are familiar giants and the latter obscure, you might want to rethink how you look at the companies that provide the world with energy. On a reasonable accounting of things, the latter are just as significant — if not more so — than the powerhouses of petroleum.

Shamaila Khan at UBS Asset Management has deployed a somewhat counterintuitive strategy for bond investments. The head of fixed income for emerging markets is breaking with the likes of Goldman Sachs Group Inc. and is steering clear of investor favorite Indian government debt, while embracing volatile Chinese high-yield bonds, which have suffered from a prolonged property crisis.

Asian stocks fell on Friday as investors pondered the outlook for U.S. rates after the Federal Reserve tempered its rate-cut views even as inflation came in softer than expected, while the yen was shaky before the Bank of Japan's policy meeting. The dollar was hovering near a one-month high on the back of the hawkish tone from the Fed this week, while political uncertainty in Europe kept the euro under pressure.

Stellantis CEO Carlos Tavares has expressed dissatisfaction at the operation of some U.S. plants on Thursday as the automaker struggles with lower shipments and falling revenues

A June 13 threat intelligence report from Google Cloud exposed an alarming wave of cyberattacks by North Korean hackers targeting cryptocurrency exchanges, fintech companies, and individuals in Brazil.

U.S. President Joe Biden says the agreement to tap into the windfall profits on frozen Russian assets held in Europe would put that money to work for Ukraine

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced additional measures on June 12 to increase pressure on Russia in response to its ongoing conflict with Ukraine.

Now that Europe has announced tariffs on China-made electric cars, the continent is bracing to see if the other shoe drops

Italy is hosting the summit of the Group of Seven industrialized nations in the wake of the European Parliament election that saw a surge in support for the far right in places like G7 members France and Germany

Treasury Secretary Janet Yellen says Chinese “overconcentrated supply chains” pose a threat to U.S. jobs and recent investments meant to build up the U.S. green energy sector

(Bloomberg) — A giant state-owned Chinese commodities trader is nursing losses after a shipment of copper from Russia worth nearly $20 million went missing, reigniting fears over fraud in the often secretive market for buying and selling raw materials.

India will remain the region's fastest-growing economy, sustaining last year’s domestically driven momentum and its policy momentum is expected to continue as the new government takes charge with a reduced majority, according to ratings firm Moody’s. “We anticipate policy continuity after the general election, and a continued focus on infrastructure development and encouragement of private sector investment” the ratings firm said in a report. In the first half of calendar year 2024, Indonesia, Philippines and India led the way and should continue to outperform pre-COVID growth numbers on the back of rising exports, local demand and government spending lift.

The heads of the Group of 7 nations — Britain, Canada, France, Germany, Italy, Japan and the United States — started their annual summit Thursday at a luxury hotel in Puglia on the southern Italian coast, overlooking the Adriatic Sea. The wars in Ukraine and the Gaza Strip and the threats posed by China's economic rise are high on the agenda.

MUMBAI : Sectoral and thematic funds received over ₹19,000 crore in net inflows in May, according to monthly data from the Association of Mutual Funds in India (Amfi). Nearly half of this amount went into HDFC Mutual Fund’s new fund offer (NFO) – HDFC Manufacturing Fund, which alone garnered ₹9,500 crore from investors. It's not just HDFC MF riding this wave; other fund houses have also launched manufacturing funds recently.

Fed chief Jerome Powell, gold prices on MCX for August futures contracts were down Rs 481 or 0.67% to trade at Rs 71,489 per 10 grams, while MCX July silver contracts dropped by nearly Rs 2,000 or 2.18% to Rs 88,469 per kg. Gold prices fell after three days of gains as investors reacted to the Federal Reserve's latest signals indicating only one interest-rate cut this year, instead of the three previously forecast.

Bitcoin mining stocks experienced significant gains on Wednesday, following a promise by United States presidential candidate Donald Trump to boost mining operations within the country.