China Financial News

TIVOLT Electric Vehicles, a joint venture between the diversified conglomerate the Murugappa Group and TI Clean Mobility, has drawn up plans to launch e-small commercial vehicles under the 'Montra Electric' brand, the company said. The launch of the e-SCV is expected to bring about a significant change in mid-mile and last-mile mobility sectors. The development of the e-SCV would be a culmination of extensive research and rigorous testing, a company statement said here on Tuesday. «Montra Electric represents our commitment to enhancing life through eco-friendly mobility solutions, ushering in a new era of growth and innovation for us. The electric vehicle industry is experiencing an exciting phase of development, not only in India but globally. We have dedicated our top resources and time to develop this product and are looking forward to the customer response upon its launch in coming months,» said Tube Investments of India (TII), Executive Vice-Chairman Vellayan Subbiah.

President Joe Biden says in defending his new tariffs on Chinese products that China's government subsidies ensure its companies don’t have to turn a profit, giving them an unfair advantage in global trade

President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, calling its proximity to the base a “national security risk.”

European carmaker Stellantis says it will begin selling electric vehicles from its Chinese partner Leapmotor in nine European countries later this year

Most countries in the European Union are making efforts to “de-risk” their economies from perceived threats posed by China

brought a large number of forces to our border and they did it at the time when we were under Covid lockdown." To the Galwan clash, "India responded by counter deployment of forces", he said. Four years since the clash, that left 20 soldiers dead, forces have been deployed ahead of the normal base positions at Galwan Valley. “We responded by counter-deploying our forces.

Vladimir Vladimirovich Putin will pay a state visit to China from May 16 to 17," Shina Foreign Ministry Spokesperson Hua Chunying announced on Tuesday. According to reports, Russia also confirmed the trip and said Putin was going on Xi's invitation. The Kremlin was quoted by PTI as saying that this will be Putin's first foreign trip since he was sworn in as president and began his fifth term in office.

Top China, South Korea Diplomats Hold Rare Talks in Beijing On Tuesday, the White House announced a tariff hike on $18 billion worth of imports from China, targeting key sectors such as electric vehicles, batteries, steel, and vital minerals. This decision coincides with President Joe Biden's preparation for the upcoming November election, where he is expected to face Republican rival Donald Trump again. Administration officials criticized Trump's trade policies as they unveiled the tariff increase.

Also Read: Stocks to buy: HDFC Securities recommends HG Infra and Styrenix as its fundamental stock picks Additionally, after 30 years, China’s role in world steel consumption is expected to diminish and India to account for bulk of steel consumption growth from CY20-25E. While China’s steel consumption may progressively fall from peak levels of CY20 by 110-120 mt, in case of India it is likely to grow by 66 mt by CY25.

The sensational Himalayan tunnel rescue operation in Silkyara, lasting 17 days, riveted the nation’s attention. The deployment of foreign experts, high-tech boring equipment and 41 ambulances (one for each of construction workers) was proof that India values human lives and will do what’s needed to prevent fatalities. It is surprising that the death of more than ten times that number every day on Indian roads is not being addressed with the same alacrity.

President Joe Biden has issued an order blocking MineOne, a majority Chinese-backed crypto mining firm from owning land near a strategic nuclear missile base in Wyoming due to security concerns.

For efficiency, the form of an instrument must follow its function. This logic applies to India’s defence too, which is why there is no valid argument against aligning our armed forces to focus on potential theatres of war. How well we fare could depend on how well we’re geared for hostilities on a particular front—be it western, northern or maritime.

Having displaced the US, China is back in the top spot as India’s biggest trade partner, with bilateral trade hitting $118.4 billion in fiscal 2023-24, according to Global Trade Research Initiative data. This was made up of $101.7 billion in imports by India, up 3.2%, and $16.7 billion in Indian exports, up 8.7%.

Tesla lays off over 16,000 employees; many face H-1B visa deadline Last month, Musk had planned his visit to India but he later postponed it. However, just days later, the billionaire visited China and won concessions for Tesla. Musk was due to meet PM Modi around April 22 and announce an investment of up to $3 billion in a car plant but cancelled saying there were "very heavy Tesla obligations".

Xiaomi Corp. aims to begin making and selling a sport utility vehicle similar to Tesla Inc.’s Model Y as early as 2025, embarking on a major new expansion with production of its debut SU7 electric car set to reach about a 100,000 units this year. Xiaomi is approaching full initial capacity and is working now to increase output to accommodate demand, people familiar with the matter said. The company benchmarked its envisioned SUV against Tesla’s during development, the people said, asking not to be identified discussing a private project. An SUV would mark a big expansion of Xiaomi’s $10 billion EV endeavor, spearheaded personally by billionaire co-founder Lei Jun. The company is trying to reduce its reliance on a volatile smartphone market dominated globally by Apple Inc., though with EVs it’s getting into a crowded arena and taking on established rivals Tesla and BYD Co.

Oil prices rose on Tuesday as the supply-demand balance looked set to tighten on operational disruptions, stronger demand and voluntary output cuts. U.S. West Texas Intermediate crude futures rose 18 cents to $79.30 a barrel by 1224 GMT. Brent crude futures gained 19 cents, reaching $83.55 a barrel.

Authorities say that anti-government rebels in the Central African Republic have carried out an attack in a village known for gold mining

Stocks that traded heavily or had substantial price changes on Monday: Incyte, Squarespace rise; Chimera Investment, Amazon fall

A tiny, low-priced electric car called the Seagull has American automakers and politicians trembling

Japanese technology company SoftBank Group says it trimmed its losses for the fiscal year through March to about a quarter of the red ink it racked up a year earlier, as investment losses declined

China's finance ministry plans to start raising 1 trillion yuan in long-awaited, long-term special treasury bonds this week to raise funds it will use to stimulate key sectors of its flagging economy. The finance ministry confirmed what four sources had told Reuters earlier on Monday that the 1 trillion yuan ($138.23 billion) of special government bonds would have tenors of 20 to 50 years and issuance will begin on May 17. The sources who have direct knowledge of the plans said 300 billion yuan worth of 20-year bonds, 600 billion yuan worth of 30-year bonds and 100 billion yuan worth of 50-year bonds would be issued.