China Financial News

Delhi chief minister and Aam Aadmi Party (AAP) national convenor Arvind Kejriwal on Saturday approached Delhi High Court against his remand order in connection with the money laundering case related to the alleged excise policy case. The Delhi CM has also been seeking an early hearing of his plea against his arrest, preferably by Sunday, PTI reported, citing sources. The AAP chief was on Friday remanded to the custody of the Enforcement Directorate for seven days i.e., till March 28, a day after he was arrested by the probe agency.

External Affairs Minister S Jaishankar on Saturday dismissed China's repeated claims on Arunachal Pradesh as «ludicrous» and asserted that the frontier state was a «natural part of India». In probably his first public comments on China's frequent claims on Arunachal Pradesh and its opposition to Indian leaders visiting the state, Jaishankar said it was not a new issue. «This is not a new issue. I mean China has laid claim, it has expanded its claim. The claims are ludicrous to begin with and remain ludicrous today,» he said in response to a question on the Arunachal issue after delivering a lecture at the prestigious Institute of South Asian Studies (ISAS) of the National University of Singapore (NUS) in Singapore. Jaishankar, who is here on a three-day visit, emphasised that Arunachal Pradesh was a «natural part of India.»

Arvind Kejriwal by the ENforecement Directorate. The ED has arrested Delhi CM in a case linked to the excise policy, implemented in the city in 2022 which ended its control over the sale of liquor, and gave undue advantages to private retailers.

Arvind Kejriwal on Thursday. Raut compared India's political atmosphere with Russia and China. The Rajya Sabha MP said, "Today, no one is safe in this country.

By James Pomfret, Jessie Pang and Greg Torode

Maldives President Mohamed Muizzu has extended an olive branch, asserting India's crucial role as the Maldives' "closest ally", PTI reported. In a recent interview with local media, Muizzu emphasised the need for continued support from India, particularly in addressing the Maldives' debt burden. "India will continue to remain the Maldives’ closest ally, there is no question about it," he told local Dhivehi language publication 'Mihaaru' in an interview — his first one since assuming office last November.

By Daina Beth Solomon and Alexander Villegas

India's car industry is on track for a record-breaking year, with sales expected to touch about 4.23 million vehicles, buoyed by a double-digit sales surge this month. The robust performance would cement India's position as the world's third-largest passenger vehicle market, staying ahead of Japan for the second year in a row. As many as 3.99 million passenger vehicles were registered in Japan in 2023, which reports data on a calendar year basis. China is the largest car market, followed by the US. Around 375,000-380,000 cars, sedans and utility vehicles are expected to be sold in India in March, up from 336,000 units a year earlier, making it the 15th consecutive month that PV sales have breached previous monthly records. For the first time, sport-utility vehicles are set to capture more than half of the passenger vehicle market in a year underscoring their growing popularity.

Australian government aims to make sure that foreign students come to the country to study, and not just work. The government estimates that the changes will halve the migrant intake in over two years. Among several measures, the Australian government will introduce the ‘Genuine Student Test’.

Indian stock market to witness volatile FPI inflow amid US Fed rate cut; earnings growth key driver, say analysts Whereas, US is also witnessing a cool-off in foreign flows. However, US smallcap flows continues to show strong momentum since Jan 2024. “After record inflow of $56bn in the US last week, we saw flows cooling off with outflow of $22.6bn.

UltraTech Cement has commissioned 1 million tonne of brownfield capacity at its plant at Roorkee in Uttarakhand, taking the unit’s total capacity to 2.1 million tonne per year. “This forms part of the 22.6 mtpa capacity expansion announced in June, 2022,” the company said in an exchange filing on Friday. UltraTech, a part of the Aditya Birla Group, is the largest producer of cement in the country, and with Friday’s commissioning, has the capacity to produce 138.39 million tonne of grey cement each year.

Australia is set to provide $3 billion to British industry to support the construction of nuclear-powered submarines and ensure its new fleet arrives on time

Stocks that are trading heavily or have substantial price changes on Friday: Nike, Lululemon fall; FedEx, Star Equity rise

Vietnam's president has resigned as the ruling communist party in the latest episode of a “blazing furnace” anti-corruption campaign

Russia and China on Friday vetoed a US-led draft resolution at the Security Council on a ceasefire in Gaza, with Moscow accusing Washington of a «hypocritical spectacle» that does not pressure Israel. The United States, Israel's main ally which has vetoed previous ceasefire calls, put forward the resolution which for the first time would have supported «the imperative of an immediate and sustained ceasefire» and condemned the October 7 attack by Hamas.

Apple didn’t need any more trouble, but trouble has had a way of finding the iconic tech giant lately. The Justice Department sued Apple on Thursday, accusing the company of monopolistic behavior over the way it runs its iPhone business. “We allege that Apple has employed a strategy that relies on exclusionary, anticompetitive conduct that hurts both consumers and developers," Attorney General Merrick Garland said in announcing the case.

By Amanda Cooper

Mohamed Muizzu has struck a reconciliatory tone, saying India will continue to remain his country's «closest ally» and urged New Delhi to provide debt relief to the archipelago nation. The Maldives owed approximately USD 400.9 million to India by the end of last year. Ever since he took oath as the president in November last year, the pro-China Maldivian leader has pursued a hardline stand towards India and within hours had demanded that Indian military personnel operating three aviation platforms be repatriated from his country by May 10. On Thursday, in his first interview with the local media since assuming office, Muizzu said India was instrumental in providing aid to the Maldives and has implemented the «greatest number» of projects.

Uno Minda on Friday said it has tied up with Starcharge Energy to manufacture and sell electric vehicle supply equipment in the country. The company has entered into a technical license agreement with Starcharge Energy Pte for wall-mounted AC chargers designed for home charging. «This collaboration further strengthens our dedication to 'Make in India' and for accelerating the nation's transition to a sustainable and electrified future,» Uno Minda Group CMD Nirmal K Minda said in a statement. StarCharge, a global leader in electric vehicle charging infrastructure and microgrid solutions, operates in 67 countries and regions with manufacturing facilities in the US, Vietnam, and China.

SINGAPORE—Apple has held preliminary talks with Baidu about using the Chinese company’s generative artificial-intelligence technology in its devices in China, the latest example of the iPhone maker’s efforts to widen its AI capabilities. The U.S. tech giant has been exploring using external partners to help accelerate its AI ambitions.

Investing.com — U.S. futures edged higher Friday, ending the week on a positive note after the Federal Reserve reaffirmed its plans to cut interest rates this year, potentially as soon as June.