China Financial News

Putin began his fifth term Tuesday as Russian leader at a glittering Kremlin inauguration, setting out on another six years in office after destroying his political opponents, launching a devastating war in Ukraine and concentrating all power in his hands. Already in office for nearly a quarter-century and the longest-serving Kremlin leader since Josef Stalin, Putin's new term doesn't expire until 2030, when he will be constitutionally eligible to run again.

Indian companies are also not usually running second to the Chinese in many sectors, especially in cutting-edge technology domains. The pressures on or exit of Chinese companies under Europe’s new laws, thus, might not necessarily create openings for Indian companies to take advantage of. What is, therefore, likely to happen, is similar to what has happened with Indian expectations of friend-shoring.

Mint's request for a comment on the story. With geopolitical and policy uncertainties influencing partnership strategies, Indian companies are opting for technology transfers from China instead of establishing joint ventures.

Gold prices edged up for a second session on Tuesday, after recent economic data boosted bets that the Federal Reserve would cut interest rates later this year.

Rabindranath Tagore's birth anniversary to Border Roads Organisation (BRO) raising day, several incidents are celebrated on May 7, every year. The day also marked a phenomenal development in geopolitics as Vladimir Putin became the President of Russia for the first time on May 7, 2000. Take a look at the key events that were held today in past.

electric cycle maker EMotorad, in which cricketer Mahendra Singh Dhoni invested an undisclosed sum last month, is set to complete the phase-1 build of its factory at Ravet, Pune. The 2,40,000-sq. ft. facility, scheduled to be inaugurated on August 15, will have the capacity to make 500,000 million e-cycles, founder and CEO Kunal Gupta told ET. It will also employ 300 more people, from the current 50, by then, he added.

A veteran Canadian bank analyst says Toronto-Dominion Bank’s role in an alleged money-laundering scheme has made the “worst-case scenario” more likely — a huge fine and strict limits on the lender’s U.S. growth.

China's gold consumption rose 6% in first quarter this year; what is driving the rally? "The downside that we've seen over the last few weeks might actually be running out of steam, opening (the) door for gold prices to resume their upward trajectory," Daniel Ghali, commodity strategist at TD Securities, was quoted as saying Reuters. On Friday, data revealed that job growth in the U.S. decelerated more than anticipated in April, with the rise in annual wages dropping below 4.0% for the first time in nearly three years.

Gold rate today jumps after disappointing US non-farm payroll data, slide in US dollar rate, Xi Jinping's Europe trip According reports, Chinese consumers have increasingly turned to gold amid waning confidence in conventional investment avenues such as real estate or stocks. Concurrently, the nation's central bank has consistently bolstered its gold reserves while reducing its holdings of U.S. debt.

ALSO READ: NewsClick: Court acknowledges founder received funds for pro-China content Justice Swarana Kanta Sharma had reserved the order after Chakravarty's counsel submitted that the chargesheet has already been filed in the case and the petitioner, after turning an approver, has been cited as a prosecution witness. Chakravarty's lawyer had said that the high court has the discretion under section 482 of the Code of Criminal Procedure (CrPC) to grant bail to him. The counsel for the Enforcement Directorate (ED) had said the prosecution has no objection if the relief is granted to him.

Stocks made small gains in holiday-thinned trading as traders turned their attention to a line-up of central bank speeches this week. 

European Commission President Ursula von der Leyen said on Monday that the EU would not shrink back from taking tough measures to protect its economy and security, amid tense trade relations with China. «China that plays fair is good for all of us,» she said following trilateral talks in Paris with Chinese President Xi Jinping and French President Emmanuel Macron. «Europe will not waver from making tough decisions needed to protect its economy and its security,» she said. «We will defend our companies, we will defend our economies.»

Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) have secured $230 million in assets under management (AUM) in their inaugural week.

commerce ministry's arm DGTR has recommended the imposition of anti-dumping duty on imports of a chemical, used for water treatment, from China and Japan to protect the domestic industry from cheap inbound shipments. The Directorate General of Trade Remedies (DGTR) has recommended the duty on 'Trichloro isocyanuric acid' after conducting an investigation on the dumped imports of the chemical from these two countries. «The authority recommends imposition of provisional anti-dumping duty on the imports,» the DGTR's notification has said. Bodal Chemicals Ltd had filed the application for the initiation of an anti-dumping investigation on the imports from China and Japan.

China's third aircraft carrier, Fujian, embarked on its maiden trials last week, marking a significant moment in China's naval expansion efforts aimed at challenging the US's global presence. Named after the Fujian province, the carrier is the largest and most advanced Chinese aircraft carrier ever built. Testing Reliability and Stability The Fujian carrier set sail from Shanghai's Jiangnan Shipyard, with the trials primarily focused on testing the reliability and stability of its propulsion and electrical systems, as reported by state news agency Xinhua.

The New Indian Express, referring to Prime Minister Narendra Modi using words like “infiltrators". In an interview published in The New Indian Express on Monday, Owaisi said, "It is high time Muslims should wake up and learn from how Rajputs have reacted to the same statement issued by Union minister (Parshottam) Rupala.

Read the full story here.)Sensex Today Live : Indian markets were expected to start on a positive note, following global peers higher as colling wages in the US firmed up anticipation of a sooner rate cut by the US Federal Reserve.Gift Nifty futures were trading at 22,686, around 200 points ahead of Nifty 50's Friday close of 22,475.Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention.Trading was thinned in Asia with Japan out for a holiday, though markets in mainland China got off to an upbeat start after returning from an extended break.MSCI's broadest index of Asia-Pacific shares outside Japan edged more than 0.5% higher, while China's blue-chip index gained 1.4%.Chinese shares offshore posted strong gains last week while mainland markets were closed from Wednesday to Friday for the Labour Day holiday.Hong Kong's Hang Seng Index rose 4.7% last week and on Friday clocked its longest daily winning streak since 2018. It was last down 0.2%.The Nasdaq-listed Golden Dragon China Index jumped 5.5% last week.Similarly, in currency markets, the offshore yuan was last roughly 0.1% lower at 7.2013 per dollar, after strengthening more than 1% last week, in part due to a broadly weaker dollar.The People's Bank of China on Monday also lifted its official yuan midpoint to the highest in three weeks, catching up with movements offshore.

Emmanuel Macron was on Monday set to warn Chinese leader Xi Jinping against backing Russia in the conflict over Ukraine but also seek to enlist his help in finding an end to the war. Xi is making a state visit to France marking 60 years of diplomatic relations between France and China. The trip is his first to Europe since 2019 and will also see him visit Serbia and Hungary later in the week.

Gold prices eased in early Asian hours on Monday as the dollar ticked up, while traders awaited comments from a series of Federal Reserve officials for more cues on U.S. interest rate cut timeline.

Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention. Trading was thinned in Asia with Japan out for a holiday, though markets in mainland China got off to an upbeat start after returning from an extended break.

. However, in the event of any political surprise, the markets will witness a significant downturn, requiring a substantial amount of time to bounce back. Additionally, any tax hike on equities, at the very least, will result in an equivalent and opposite price reaction, which would overshadow any other positives, Arora added.