China Financial News
11.04 / 17:05
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Congress didn't develop infrastructure near Chinese border because it was "scared": Rajnath Singh
Rajnath Singh said that Congress never tried to develop the boundary region near the neighbouring country China because they were «scared» of the enemy. He further asserted that under Prime Minister Narendra Modi, no one can stop the country from becoming 'Ram Rajya'. Addressing the rally in Madhya Pradesh's Satna, Singh said, «Congress did not carry out development work in border villages and areas because they were scared of the enemy that it could exploit the new roads to enter into the country but China kept developing its border infrastructure.»
11.04 / 17:01
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travelers
Maldives to hold road shows in India to woo tourists back
tourists back to the Maldives, a major tourism body here has announced that it will hold road shows across key Indian cities. A full-blown backlash was directed at the Maldives following derogatory remarks against India and Prime Minister Narendra Modi on social media by three Maldivian officials after Modi posted photos and video of the pristine Lakshadweep Islands on India's west coast on January 6 on his X handle. Scores of Indians, including multiple celebrities, cancelled their reservations and dropped plans to visit Maldives. The tourism arrival statistics reflected how from being a top visitor country, India's position went down to first fifth and now at the sixth position after January.
11.04 / 14:45
Remark
country
2020
reports
Interviews
peace
rowing
On PM Modi’s border row comments, China says, 'noted the remarks...'
border situation with China "urgently". "China has noted the remarks by the prime minister," Mao Ning, the spokesperson of Chinese foreign ministry said in a media briefing. She added that China believes "sound and stable China, India relations" serve the common interests of both sides and "are conducive to peace and development of the region and beyond." PM Modi, in his interview, said that the stable relations are important "for not just our two countries but the entire region and world".
11.04 / 14:13
CEO
Strategy
Sustainability
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Universities
Essar Power's renewables division appoints Ankur Kumar as CEO
Ruia's owned Essar Power Limited has appointed Ankur Kumar as the Chief Executive Officer of its renewables business division, the company said on Thursday. «Ankur will play a key role in advancing Essar's commitment to transitioning into green energy and establishing a robust renewable ecosystem in India,» said Essar Power in a press statement, adding that with over 24 years of experience in renewable energy and public infrastructure sectors, Kumar brings a wealth of knowledge and expertise to his new role. Previously Kumar served as the CEO at ACME Solar Holdings Pvt. Ltd., spearheading the strategic expansion of the company into green hydrogen and ammonia businesses. He also held a leadership position at TBEA Xinjiang Sunoasis Co. Limited, a Chinese green energy company.
11.04 / 14:13
Death
country
reports
prevention
infection
symptoms
Vaccines
Whooping cough speeding in China, 13 deaths in 2 months. Symptoms and if a vaccine is there
Whooping cough is making a post-pandemic comeback in China, with cases surging more than 20-fold in the first two months of 2024. The country reported a combined 32,380 cases of pertussis — more commonly known as whooping cough — in January and February, compared with 1,421 cases during the same period in 2023, Bloomberg reported, citing National Disease Control and Prevention Administration. There were 13 deaths. The number of infections detected in the first 60 days of the year is near the full 2023 total, underscoring the risk of the highly contagious respiratory disease in China. China had seen a major respiratory disease outbreak in 2023 after pulling itself out of the Covid mire in late 2022.
11.04 / 14:13
Manufacturing
Racing
Tesla
wellness
country
International
How China beat the US in the great EV race
electric vehicle producer in the world and, simultaneously, an also-ran in the race for EVs. How did that happen? As recently as 2016, the US had more EVs on the road than China did. Now China has raced ahead. Despite Tesla Inc.’s pioneering role in bringing electrification into the mainstream, the US EV effort is beset by angst. While sales jumped by 44% last year, that is expected to slow markedly in 2024, with signs of retreat not just in Detroit but at Tesla itself. Tesla briefly lost its crown as the world’s biggest battery EV producer in the fourth-quarter of 2023 to BYD Co. Ltd., and will likely do so again. Chief executive Elon Musk is on record saying that, absent trade barriers, Chinese manufacturers “will pretty much demolish most other car companies in the world.” Tesla’s gigantic valuation these days has more to do with visions of robotaxis rather than EV leadership, per se.
11.04 / 13:41
country
exclusive
2020
reports
Interviews
peace
"Under PM Modi, no one can capture even an inch of our land...": Rajnath Singh
India lost a «substantial» amount of land to China, Defence Minister Rajnath Singh affirmed that no one can occupy even an inch of Indian land under Prime Minister Narendra Modi's leadership. Reacting to the reports of Chinese construction near the Line of Actual Control (LAC), he said that both countries are independent in carrying out construction on their side of the LAC. On being asked if China has occupied any piece of Indian land, the Defence Minister said, «I don't think so».
11.04 / 13:13
COST
Manufacturing
economy
country
Rising raw material costs hit Indian plastic industry
New Delhi: Rising prices of raw materials for manufacturing plastic products could further burden the Indian economy lead to a hike in the prices of plastic goods in the near future, said Sribash Dasmohapatra, executive director of the Plastic Export Promotion Council (PLEXCONCIL), a body under the ministry of commerce. Raw materials used for manufacturing plastics, such as ethylene and propylene, are primarily sourced from countries with abundant petrochemical resources like Russia, Iran, the United Arab Emirates and Saudi Arabia.
11.04 / 12:39
markets
COST
UPS
Manufacturing
Assurant
Strategy
Hyundai
NOT
Exide Industries EV battery pact is positive, but not without challenges
ventured into lithium-ion battery making, crucial for EVs, by beginning the construction of a facility equipped with technology from China-based manufacturer SVOLT. The facility would have a capacity of 6 GWhr in the initial phase, entailing an investment of ₹4,500 crore to ₹5,000 crore. Of this, it has invested over ₹1,800 crore by December.
11.04 / 12:39
11.04 / 11:41
Provident
Reuters
Digital
ETF
Racing
security
reports
Hong Kong set to approve first crypto ETF
The move would make Hong Kong the first domicile in the Asia-Pacific region to approve a crypto-backed, exchange-based investment fund. It would also put the island in prime position in the race to become the digital assets hib for the region.
11.04 / 11:11
Target
Analysis
Death
Research
trends
Universities
hospital
Climate change linked to rising stroke deaths: Global study reveals alarming trends
disability due to stroke around the world are increasingly linked to temperature changes driven by climate change, a new analysis of global data over three decades has found. In 2019, there were over 5.2 lakh stroke deaths linked to non-optimal temperatures, the study, published in the journal Neurology, found. While the majority of these stroke deaths — more than 4.7 lakh — were due to lower than optimal temperatures, researchers also found that number of deaths from stroke linked to higher than optimal temperatures had increased, when compared with 1990. They associated optimal temperatures with the lowest death rates. The burden of stroke «due to high temperature has increased rapidly, especially among people aged older than 10 years, and was disproportionately concentrated in low Socio-demographic Index (SDI) regions such as Africa,» they wrote in the study.
11.04 / 11:11
Target
poverty
country
2020
Interviews
peace
Why are country's borders shrinking: Akhilesh Yadav hits out at BJP
Samajwadi Party chief Akhilesh Yadav on Thursday wondered why the country's borders were shrinking and how free was its press. Yadav attended the special prayers at Aishbagh Eidgah here on Eid-ul-Fitr and greeted people on the occasion. «People are noticing that our country that was once developing, what is the state of law and order here now, what is our unemployment level, how free our press is, where are we standing on the parameters of health and poverty index? Why are our borders shrinking?» Yadav said without taking any names. «People are going to vote on these issues and they have decided to bring a change,» the former Uttar Pradesh chief minister said after initially declining to make any political comments «at the time of festivities».
11.04 / 11:11
UPS
Election
Research
students
country
Schools
International
We cherish the connection with India, says INSEAD dean Francisco Veloso
INSEAD, one of the world's leading graduate business schools, has no immediate plans to open a campus in India though it remains committed to developing and strengthening industry-academia research in future with top Indian multinationals and unicorn startups. Francisco Veloso, who took over as dean of the institute in September last year, says Indian students form the most represented nationality at the global business school with representation of about 12-15%, higher than Chinese students at 9-10%. In an exclusive interview with ET’s Rica Bhattacharyya, Veloso talks about the inroads AI is making into classrooms and the rising interest among Indian business leaders to learn this transformational technology. Edited excerpts: INSEAD has set up its physical presence over the years in multiple countries. Do you have any plans to set up a campus in India? India is a very important and fast-growing country for the world, and has an increasing significance internationally. We at INSEAD have many ties with India. About 10% of our faculty are originally from India and it is one of the most represented nationalities in our faculty. We have many alumni in India and have important partnerships with them in the country.
11.04 / 10:25
UPS
country
2020
Interviews
peace
rowing
Congress hits out at PM Modi over India-China border row: 'An insult to our martyrs..'
Newsweek and opened up on the relations with China, Congress veteran Jairam Ramesh on Thursday said that PM Modi's reaction to the China issue is an 'insult to the martyrs. Taking to X, Ramesh wrote, "The Prime Minister's reaction on the China issue is not only shameful but also an insult to our martyrs who made the supreme sacrifice while protecting our borders," he wrote.
11.04 / 10:25
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electronic
Majority of principal commodities exported to China record positive growth in 2023: Comm Min data
China have recorded a positive growth in 2023 out of the total 161 such goods shipped to the neighbouring country, according to commerce ministry data. These 90 commodities account for 67.7 per cent of India's export basket to China, while 71 products that have registered a negative export growth in 2023 constitute 32.3 per cent, the data showed. There are four commodities level where India has improved its export to China by more than USD 100 million in 2023. They are iron ore (216.8 per cent to USD 3.33 billion in 2023), cotton yarn (542.6 per cent to USD 611.17 million in 2023), spices (19.4 per cent to USD 132.26 million in 2023), and processed minerals (174.19 per cent to USD 129 million in 2023).
11.04 / 10:23
markets
Digital
Platform
security
Trade
Hong Kong Regulator Boosts HashKey’s License, Expanding Retail Crypto Services
Hong Kong’s Securities and Futures Commission (SFC) granted an expanded license to HashKey Capital. This upgrade enables HashKey to offer its services to retail investors, removing the prior restriction that limited its clientele to professional investors only, the firm said Thursday.
11.04 / 09:29
COST
Waters
security
Myanmar
Trade
rights
International
India’s creeping port acquisitions open a sea of opportunities for local firms
After Chabahar, India is reportedly on course to gain the rights to operate a second overseas port, Sittwe, located in the Rakhine state of Myanmar. There is though no official corroboration yet. Ports in the Indian Ocean have become hot property as China on one side and the India-US combine on the other race to invest in them.
11.04 / 09:15
UPS
Provident
Manufacturing
Mobile
country
electronic
Damson Tech plans to move smart gadgets production to India, invest Rs 150 cr in first year
Lifestyle and mobile accessories maker Damson Technologies plans to move half of its manufacturing operations from China to India, with an initial investment of Rs 150 crore in the current fiscal year, a top official of the company said. Electronics manufacturing service provider Damson Technologies, managing director, Ritesh Goenka told PTI that the company has been manufacturing devices in Beijing and now moving half of its production to India due to sanctions imposed by several countries on China coupled with benefits under government schemes in India. «At present, we generate revenue of over Rs 1,000 crore. We plan to bring around Rs 500 crore worth of business to India in the upcoming year. Our long-term vision is to gradually move entire factory operations to India. We need some time to build the entire infrastructure in India,» he said. Damson also makes and sells mobile accessories and lifestyle gadgets under its own brand name «Just Corseca».
11.04 / 07:01
markets
UPS
Fitch
Experts
show
track
Department
Uday Kotak of Kotak Bank shows THIS wild card as he warns to be ready for turbulence
Is China going to default? Fitch cuts rating to negative Also Read: Will India overtake China to become world's economic heavyweight by 2028? Meanwhile, the US consumer price index (CPI) rose 0.4 per cent month-on-month (MoM) and 3.5 per cent year-on-year (YoY), above the Street expectations of 0.3 per cent MoM and 3.4 per cent YoY, according to data released by the Labor Department's Bureau of Labor Statistics on Wednesday, April 10. Core inflation, which the Fed tracks closely, grew 0.4 per cent MoM against the expectations of a 0.3 per cent increase.
11.04 / 05:53
security
Mobile
Election
HANS
community
information
reports
Trudeau says there wasn’t ‘sufficient’ intelligence to remove Dong in 2019
Despite learning of “concerns” of allegations of potential foreign interference in the Don Valley nomination race in 2019, Prime Minister Justin Trudeau says he decided not to remove Han Dong as the Liberal candidate because it would have been a “drastic option” based on the available intelligence.
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