China Financial News

Biden administration is considering blacklisting a number of Chinese semiconductor firms linked to Huawei Technologies Co. after the telecom giant notched a significant technological breakthrough last year, people familiar with the matter said. Such a move would mark another escalation in a US campaign to ringfence and curtail Beijing’s AI and semiconductor ambitions. It would ratchet up the pressure on a Chinese national champion that’s made advances despite existing sanctions, including producing a smartphone processor last year that many in Washington thought beyond its capabilities.

Gold prices drifted lower on Wednesday as the U.S. dollar firmed, while traders awaited the U.S. Federal Reserve's monetary policy decision and Fed Chair Jerome Powell's remarks for more clues on prospects of rate cuts. Spot gold dipped 0.2% to $2,152.52 per ounce by 1335 GMT.

MUMBAI : Sajjan Jindal-led JSW Group is looking to finalize a partner to manufacture electric buses, and eventually electric trucks, as the conglomerate bolsters its plan to expand into the electric vehicles market to include commercial vehicles. The group will manufacture these electric buses and trucks in Odisha, where it has committed an investment of ₹40,000 crore to set up an integrated electric vehicle manufacturing facility, Parth Jindal, managing director JSW Cement & JSW Paints, said.

The Biden administration, in a push to enhance semiconductor production in the United States, has provisionally agreed to grant Intel (NASDAQ:INTC) up to $8.5 billion in funding through the CHIPS Act.

Investing.com — U.S. futures retreated slightly Wednesday, with investors wary ahead of the latest Federal Reserve monetary policy decision.

Over the first quarter of 2024, WTI crude oil is expected to rise by at least 15%. This uptick marks the end of a downward trend observed in the third and fourth quarters of 2023, which was part of a broader trend that began in mid-2022.

Federal prosecutors in New York say two men are charged with starting a business in China using battery manufacturing technology pilfered from Tesla and trying to sell the proprietary information

Chinese accident investigators have indicated they have not yet determined the cause of a 2022 plane crash that killed all 132 people on board

A South Korean tanker has capsized off an island in southwestern Japan

Asian shares have closed mostly higher while European markets opened lower as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates

Bear markets are a natural part of the financial cycle, with even the most bullish periods of growth having to end in contractions.

By Timothy Gardner

Chinese nationalists have unleashed a wave of online attacks targeting China’s richest man, accusing him of being insufficiently patriotic and denting his business, a reminder of the risks facing entrepreneurs despite Beijing’s efforts to restore confidence among private investors. Zhong Shanshan, the founder of bottled-drinks giant Nongfu Spring, has been under assault for weeks on Chinese social-media sites from users questioning his loyalty to China. Nongfu Spring’s stock price has dropped since the online attacks began.

White House unveiled almost $20 billion in new grants and loans Wednesday to support Intel's US chip-making facilities, marking the Biden administration's largest funding announcement yet as it tackles China's dominance of the crucial technology. President Joe Biden's decision to make the announcement during a trip to Arizona underscores his strategy of highlighting legislative achievements in key battleground states ahead of November's presidential rematch against Donald Trump.

Sri Lanka has said it will allow foreign offshore research ships for replenishments at its ports despite a one-year ban on such vessels, a senior official has said after China protested to Colombo for allowing a German survey ship but turning down Beijing's similar request. This is the first time Sri Lanka has officially admitted that foreign research vessels will be allowed for replenishments since President Ranil Wickremesinghe's government imposed a one-year ban on offshore research vessels in December last year after strong security concerns raised by India and the US following the visit of two Chinese high-tech research vessels in 14 months. «The ban on foreign ships is for research purposes, not on replenishment,» the Economy Next portal quoted Niluka Kadurugamuwa, Sri Lanka's Foreign Ministry Spokesman, as saying. «There was a German research vessel recently for replenishment and Sri Lanka allowed it,» he said.

S Jaishankar on March 20 called former Prime Minister Jawaharlal Nehru's foreign policy stance towards China a "bubble". Speaking at the News18 'Rising Bharat Summit 2024', Jaishankar was critical of early India's foreign policy direction under then Prime Minister Jawaharlal Nehru. "This is a bubble we have created.

JSW Group and Chinese car manufacturer SAIC Motor-owned MG Motor India today unveiled the Cyberster, an all-electric convertible roadster, in India. This vehicle, touted as the world’s first fully-electric super gaming car, is powered by dual motor. The company said that the Cyberster can accelerate from 0-100 km/h in just 3.2 seconds. Commenting on the launch, Sajjan Jindal, Chairman of JSW Group said that they want to launch one electric vehicle every 3-4 months. «The idea is to create a Maruti moment,» Jindal said. MG Motor, a British brand owned by SAIC Motor, entered into a joint venture with the JSW Group. Jindal’s JSW Group hold 35 per cent of the company’s India operations. MG Motor today displayed three new EVs — MG 4 EV Hatchback, alongside MG 5 and MG Cyberster.

By Mimosa Spencer

mutual funds in FY24 (April 1, 2023 to till date). Nifty50 was up by 27.05% and S&P BSE Sensex was up by 23.32%. The toppers were from sectoral/thematic funds. Aditya Birla SL PSU Equity Fund, the topper in the list, offered 84.86% in the financial year 2023-24 so far. SBI PSU Fund offered 79.20%.

By Stella Qiu

A South Korean altcoin issuer has been arrested on fraud charges. Prosecutors in the country have accused him of duping investors out of $16.1 million.