China Financial News

Also Read: Explained | Why did OPEC+ members extend oil output cuts to mid-2024 Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a March 19 expiry, was last trading 2.42 per cent higher at ₹6,638 per bbl, having swung between ₹6,484 and ₹6,671 per bbl during the session, against a previous close of ₹6,481 per barrel. -The Organisation of Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia and Russia agreed earlier this week to extend voluntary oil output cuts of 2.2 million barrels per day (bpd) into the second quarter or mid-2024.

Top Chinese financial officials have outlined details of the ruling Communist Party's plans for the year, saying a 5% target for economic growth is within reach after a strong start to the year

A wage law in New York City meant to protect food delivery workers is getting backlash from app companies like Uber, GrubHub and DoorDash

Big Tech stocks pulled Wall Street down to its worst day in three weeks

Zomato through bulk deals on Wednesday, March 6, according to data available on BSE. Antfin offloaded a total of 176.4 million shares of the company within the price range of ₹160.11 to ₹160.40 per share. The Chinese company held a 6.32% stake in the quick commerce services provider, as of December 2023.

24/7 monitoring system for the Maldivian waters this month to ensure control of its Exclusive Economic Zone (EEZ) despite its significantly large area. Speaking at a ceremony at one of the islands that he was visiting on Monday, Muizzu said, the Maldives Ministry of Defence is making efforts to obtain the facilities required for conducting the hydrographic surveys by the country itself. “This will allow Maldives to conduct the underwater surveys of the country by ourselves.

Canada Pension Plan Investment Board has eliminated about a dozen positions in its Greater China public equities team this week, representing close to 10 per cent of its Hong Kong staff, a person familiar with the matter said.

Apple Inc (NASDAQ:AAPL) stock remains one of the few underperforming names within the Magnificent Seven group, falling 11.6% year-to-date. For comparison, the tech-heavy Nasdaq 100 index rose 6.4% during this period, driven by strong gains in AI-driven giants like Nvidia (NASDAQ:NVDA) and Microsoft (NASDAQ:MSFT). 

Investing.com — U.S. futures rose Wednesday, rebounding after the previous session’s sharp losses, ahead of the start of Fed chief Jerome Powell’s two-day testimony before Congress.

A charge-sheet has been filed under the anti-money laundering law against 299 entities, including 10 persons of Chinese origin, in an investigation linked to alleged duping of investors in the name of mining cryptocurrencies such as Bitcoins, the Enforcement Directorate said on Wednesday.

training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy. Muizzu also met Major General Zhang Baoqun, Deputy Director of the Office for International Military Cooperation of China, and President of the Export-Import Bank of China, Ren Shengjun separately. Earlier on Monday, the Maldives Ministry of Defence announced that a military assistance agreement has been signed by Defence Minister Mohamed Ghassan Maumoon and Major General Zhang. However, it did not reveal any additional details. This is the first time Maldives has signed a deal with China for military cooperation of this level. Previously, China had been exclusively known for its assistance towards urban and economic development of the Maldives, news portal Sun.mv said.

Canada’s biggest pension funds have largely rebuffed recent pressure to pour more of their billions of investment dollars into their home market, but a new campaign backed by 90 business leaders including chief executives of some of the country’s biggest companies appears set to escalate the debate.

By Karen Freifeld

China has announced a 7.2% increase in its defence budget, crossing $230 billion, exceeding three times India's military expenditure. This rise comes despite a slowdown in China's economic growth and its refusal to de-escalate tensions along the Line of Actual Control (LAC) with India. Strategic Intent and Military Modernisation China's two-million-strong armed forces are rapidly modernizing to deter the US from interference, especially in Taiwan. Recent moves include strengthening conventional military and nuclear forces and strategic moves in the Indian Ocean Region (IOR), including a military assistance pact with the Maldives.

Haier is «buoyant» about the fast-growing Indian market where it aims to become the second largest player in the next five years, with increased investments in manufacturing and product portfolio expansion, the company's India President N Satish said on Wednesday. Haier Appliances India, a part of the Chinese multinational Haier Group, is investing around Rs 800 crore on capacity expansion here this year, and has also lined up future expansion plans, he said. The company is also increasing indigenisation, which is a key «thrust area» for the company, where it expects local souring to contribute up to 80 per cent across products in next two years. Haier India is also increasing exports from its Indian operations to other countries and is scouting for new markets in the Middle East and African countries, besides expanding its retail business in the domestic markets.

Crisil, in its India outlook report, projected that the Indian economy is poised for substantial growth in the upcoming fiscal year, forecasting a GDP growth rate of 6.8 percent. This indicator, the GDP growth rate, measures the year-over-year or quarterly change in a nation's economic output, offering insight into the pace of economic expansion.

JD.com reported fourth-quarter revenue above estimates on Wednesday and upsized its share repurchase program, as aggressive price cuts helped revive demand from consumers grappling with an uncertain economy. The company's US-listed shares rose 9.4% in premarket trading.

By Paul Carsten

Investing.com -- U.S. stock futures inch higher as markets gear up for Fed Chair Jerome Powell's much-anticipated testimony to lawmakers on Capitol Hill. Bitcoin pares back losses after the world's most popular cryptocurrency touches a new all-time high. A rematch of the 2020 U.S. presidential election seems ever more likely after President Joe Biden and Donald Trump secure major victories in Super Tuesday primary voting.

Investing.com — European stock markets edged higher Wednesday in cautious trading, as investors awaited the U.K. Budget as well as congressional testimony from Federal Reserve Chair Jerome Powell, ahead of a European Central Bank rate-setting meeting later in the week.

(Reuters) — U.S. stock index futures rose on Wednesday as investors await testimony by Federal Reserve Chair Jerome Powell before Congress that could help determine the central bank's monetary policy path.