China Financial News

₹5,400 crore to boost production capacity and make acquisitions. The company’s investment strategy involves pursuing growth through a blend of organic and inorganic expansions over the next three years. It will finance the acquisitions and capacity additions mostly through internal accruals.

Gold price retraces ₹3,500 from record high. US Fed meeting outcome in focus After reaching a nearly six-month high, the dollar softened by 0.2%, resulting in gold becoming more affordable for holders of other currencies. Additionally, benchmark U.S.

Chang'e-6 on Friday to collect samples from the far side of the moon. The probe is set to collect samples from the far side of the moon, making this mission the first of its kind in human history, China National Space Administration (CNSA) said in its announcement. Currently, preparations for the mission are progressing steadily at the Wenchang Space Launch Site in south China's Hainan Province, and the Long March-5 Y8 carrier rocket will soon be refuelled with propellant, the CNSA said.

New Delhi: In 2019, India was among the top five economically developing countries in terms of carbon dioxide (CO2) emissions from aviation, a new research has found. Calculating «nearly real-time» aviation emissions using global flight data, researchers found that overall, the US, China and Great Britain were the topmost contributors, with 22 per cent, 14 per cent and roughly four per cent share. However, among the economically developing countries, India was found to be the third biggest contributor with close to three per cent share in global CO2 emissions from aviation, following China at 14 per cent and the United Arab Emirates (UAE) at more than three per cent. The research team at the Norwegian University of Science and Technology also found that India's share in global CO2 emissions from domestic aviation was the third highest at 1.5 per cent.

Jindal Stainless Limited (JSL) on Wednesday announced a Rs 5,400 crore investment plan for expanding its capacity by 4.2 million tonnes per annum (MTPA). Speaking to journalists in Delhi, Abhyuday Jindal, JSL's Managing Director said this investment will be funded through internal accruals with minimal debt raise. Company officials said JSL expects its debt to rise by Rs 300-500 crore, over the existing Rs 4,800 crore, by the end of the current fiscal due to the expansion plans. JSL said it will be developing and operating a stainless steel melt shop (SMS) in Indonesia with an annual production capacity of 1.2 MTPA. This will increase the company’s melting capacity by over 40% to 4.2 MTPA at a Rs 700 crore investment. This investment will be made through Jindal Stainless' Singapore based subsidiary which will enter into Joint Venture (JV) with Zenith International Capital Pte. Ltd, to operate the SMS in Indonesia.

Americans believe that China uses TikTok to shape U.S. public opinion, according to a Reuters/Ipsos poll conducted as Washington moves closer to potentially banning the Chinese-owned short-video app. Some 58% of respondents to the two-day poll, which closed on Tuesday, agreed with a statement that the Chinese government uses TikTok, which is owned by China's ByteDance, to "influence American public opinion." Some 13% disagreed, and the rest were unsure or didn't answer the question. Republicans were more likely than Democrats to see China as using the app to affect U.S. opinions.

Chinese smartphone brands are roping in services of Reliance Retail’s distribution arm to reach retail stores in the hinterlands. Xiaomi sub-brand Poco recently roped in Jio Mart Digital (JMD), through a strategic partnership to distribute Poco devices to over 80,000 retail stores across the country, according to industry executives and retailers. The move comes amidst the offline retail channels claiming over 61% of sales in Q1 2024, according to preliminary estimates from Counterpoint Research, up from 56% the previous quarter. Samsung and Vivo have the strongest hold over offline retail, the research firm said, adding that Xiaomi and Transsion were the fastest growing in Q1 2024.

Myanmar is an evidence of China’s increasing interest in Myanmar. In his meeting with Lieutenant General YarPyae, the junta’s home affairs minister, in Beijing, Chinese Public Security Minister Wang Xiaohong said China always considers China-Myanmar relations from a strategic perspective and is trying to improve them. But the ground reality is not rosy. China has its limitations. It has brokered a ceasefire deal among warring parties in January but it wants to remain one of the most influential stakeholders in Myanmar’s political crisis. However observers feel that it is time for Association of Southeast Asian Nations (ASEAN) to play a bigger role in mediation efforts only. Raising doubts over China’s real intention. Dr. Brian Wong of the University of Hong Kong insisted on the need of a coordinated approach involving ASEAN, particularly Thailand, to foster sustainable peace in the region. Also observers have cautioned against viewing China’s role in brokering a ceasefire deal among warring factions in January, through a unilateral lens.

The scale of investment by the world’s two superpowers as they conduct a proxy war through aggressive industrial policies is epic. Given the opaque nature of China’s Communist Party government, the most cited estimate is that even five years ago, China was spending 1.7% of GDP on industrial-policy projects. That ratio has surely gone up since.

released the final voter turnout figures for the first two phases of the Lok Sabha elections on April 30. The announcement came 11 days after the first phase polling on April 19, and four days after the second phase on April 26. According to the poll panel’s data, the voter turnout for the first phase of polling was 66.14 per cent, marking a drop of about 4 percentage points compared to the first phase in the 2019 Lok Sabha Elections.

South Korea has held talks about joining part of the AUKUS defence deal between the U.S., Britain and Australia, Defence Minister Shin Won-sik said on Wednesday, only weeks after the pact said it would consider including Japan. Formed in 2021, AUKUS is a two-stage security pact to counteract China's growing power in the Asia Pacific region. While a first stage to give Australia nuclear submarine technology is limited to the core trio, they have raised the possibility of other countries joining a second stage, or «Pillar 2», that aims to share other military technology.

China, India and religious affinities, Prime Minister Lee Hsien Loong said on Wednesday as he appealed for cohesion in his last major speech before stepping down from the leadership of the prosperous city-state in two weeks. «Social cohesion is important and race, language, and religion are traditional fault lines that will never go away for Singapore. While huge efforts have been made to build a shared Singaporean identity, the nation will always be subject to external forces that pull different segments of its population in different directions,» Lee said as he delivered the keynote address at the May Day Rally. «We cannot disavow our diverse ethnic roots and religious affinities — Chinese Singaporeans with China, Indian Singaporeans with their various ancestral homes in India, Malay Singaporeans with the rest of our region, and with the global Muslim Ummah,» Lee said impressing on the citizens of prosperous island state nestled in the heart of Southeast Asia.

southern China's Guangdong province on Wednesday, state media reported. State broadcaster CCTV said a stretch of road between Meizhou city and Dabu county in Guangdong province caved in at around 2:10 am (1810 GMT).

The Bitcoin and Ethereum exchange-traded funds (ETFs) newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.

LONDON—Help wanted: Someone to oversee $3 trillion in assets and 221,000 workers. Must be worldly, willing to travel constantly, knowledgeable about Chinese politics and able to deal with a demanding boss. Salary: Half of what you would make in the U.S.

Hong Kong’s entry into the spot Bitcoin and Ether exchange-traded funds (ETFs) market saw six newly introduced ETFs record a trading volume of HK$87.5 million ($11.2 million) on their first day of trading. 

AET Displays, part of China’s Guangda Group, plans to invest Rs 200 crore in India over the next 12-18 months to expand manufacturing, strengthen local supply chain and after-sales service network, a top executive said. The LED screen maker has an assembly facility in Chennai and is currently sourcing up to 55% of its components for some products from Indian suppliers, said Su Piow Ko, vice president of AET Displays.

Starbucks lowered expectations for its full-year sales and profit Tuesday after a disastrous quarter that saw a slowdown in store visits across the world. The Seattle coffee giant said revenue for the January-March period dropped 2% to $8.56 billion. That was far short of Wall Street's forecast of $9.12 billion, according to analysts polled by FactSet.

Starbucks is reporting weaker-than-expected sales in its fiscal second quarter as customer traffic dried up in many key markets

A Taliban-run tourism and hotel management institute has opened its doors to students

Elon Musk's vision for personal mobility is cars running on clean fuel and driving themselves. He has got the fuel bit right with battery-operated Tesla cars recharging on electricity generated from solar or nuclear energy (revealed last year in the 'nuclear diamond battery'). Musk's problem with this is, so have others.