China Financial News

Investing.com-- Gold prices swelled to settle at an all-time high on Monday, underpinned by ongoing geopolitical tensions and bets on a Fed rate cuts ahead of testimony from Federal Reserve chairman Jerome Powell later this week. 

Mining giant Rio Tinto Ltd. “would love” to produce lithium in Canada, given the right project, says chief executive Jakob Stausholm.

The crypto market capitalization is up 4% over the past 24 hours. At the time of writing, it stands at $2.544 trillion, according to CoinGecko. Most of the top 100 coins by market capitalization have appreciated in the past day.

Mint on the sidelines of the Mobile World Congress last week. “We’re open to divesting certain businesses. We are looking at this portfolio all the time.

By Laura Sanicola

China on Monday signed a defence cooperation agreement with the Maldives to provide free military assistance to foster «stronger» bilateral ties with Male, weeks after President Mohamed Muizzu set a deadline for the withdrawal of the first group of Indian military personnel from his island nation. The Defence Minister of the Maldives Mohamed Ghassan Maumoon met with Major General Zhang Baoqun, Deputy Director of the Office for International Military Cooperation of China, to discuss enhancing defence cooperation between the two countries. Maumoon and Major General Baoqun «signed an agreement on China's provision of military assistance gratis to the Republic of Maldives, fostering stronger bilateral ties,» the Maldivian defence ministry posted on its X handle. The details of the defence cooperation agreement were not provided.

U.S. dollar edged down against the euro on Monday, at the start of an action-packed week for markets with Britain's budget, a European Central Bank meeting, U.S. jobs data and important political moments in both China and the U.S. all due. Eyes were also on Bitcoin, which rose to a more than two-year peak above $65,000 after a quiet weekend, pushed higher in recent weeks by big flows into cryptocurrency exchange-traded funds, most notably in the United States.

Joshua Jackson has joined the latest version of 'Karate Kids', reports 'comingsoon.com'. This martial arts-based film will also feature Ralph Macchio and Jackie Chan. Ben Wang will portray the protagonist. The film will be set on the East Coast and focus on a teenager in China.

BJP) to perform a hat-trick in the upcoming Lok Sabha elections, the party and its leaders are increasingly talking of their plans for the third term. Prime Minister Narendra Modi has spoken several times in the recent past how his party will form the government and what all it would do. While such statements before polls are considered a rhetorical ploy by a party to present the inevitability of its victory in order to swing the undecided voters, PM Modi has outlined the agenda of his next government. In the last formal meeting of the Union Council of Ministers on Sunday before the upcoming Lok Sabha elections, Modi chaired a brainstorming session on the vision document for 'Viksit Bharat (Developed India) 2047'. A 100-day agenda for immediate steps for quick implementation of policies after formation of the new government in May 2024 was also discussed. It signalled the government's confidence in its poll prospects as well as the eagerness to fast-forward policies that take benefit of the prevailing favourable factors. «Wait for bigger decisions in the third-term. I'm already working on a roadmap that will be completed soon,» Modi said at the ET NOW Global Business Summit last week. «There comes a time in the development journey of any country when all the circumstances are in its favour. This is the time when that country makes itself strong for many centuries to come. That's the time I see for India today,» said Modi.

ALSO READ: Wall Street week ahead: Fed chair Jerome Powell’s congressional testimony, jobs report in focus In Europe, Britain’s FTSE 100 edged down 0.5 per cent at 7,643.21 points. France’s CAC 40 lost 0.1 per cent at 7,929.63.

BEIJING—It is the end of the Chinese growth miracle as we know it, and Chinese leader Xi Jinping seems fine with that. The question now is whether he can steer the country onto a new course—and keep the rest of China on board. After three years of pandemic-era distortions, the longer-term trajectory of the world’s second-largest economy is coming into focus, and it is showing a plateauing of growth that would have alarmed previous Chinese leaders.

Bernstein analysts explored the notable difference in product launch strategies between Tesla (NASDAQ:TSLA) and BYD (OTC:BYDDF).

Mint. “Not only are we a major supplier of critical minerals, we're also home to a buzzing ecosystem that is developing lithium and is looking at the future of lithium-ion technology for batteries and vanadium redox flow batteries, which will be a very key opportunity to grow and address the demands—be it for vehicles or for storage," she added. While Japan, Korea and European nations have been Australia’s traditional partners, Choudhury sees an increasing opportunity for Indian firms.

After Goldman Last week, Apple (NASDAQ:AAPL) also left Evercore ISI’s lists of top Buy-rated stocks, the broker’s analysts revealed in a Friday note.

By Sarah Wu

Narendra Modi’s government has pledged to boost manufacturing in India as it seeks a third term in power, potentially increasing the country’s control on supply chains and creating jobs, a government adviser said. Modi’s government would target the export-oriented sectors that face high import duties which hurt their competitiveness, Arvind Virmani, a member of the government’s policy making agency Niti Aayog, said in an interview on Friday. A Modi administration would also focus on lowering trade barriers and improving output-linked incentive plans, he said, adding that the finance ministry is identifying sectors where duties can be reduced.

By Nell Mackenzie and Wayne Cole

China’s state-run media has once more cautioned investors against crypto investments as Bitcoin reached a two-year peak on Monday, near the $64,000 mark.

U.S. officials across the political spectrum have described Chinese corporate theft as a defining threat of our times. A Justice Department loss last week underscores the challenges in addressing it.

SINGAPORE—Two years after the invasion of Ukraine, drones and U.S.-made computer chips are increasingly flowing to Russia from China through Central Asian trade routes, showing the difficulty of strangling supplies to Moscow’s war effort. Trade routes snaking through former Soviet republics Kazakhstan and Kyrgyzstan are among the many paths into Russia for so-called dual-use goods—singled out by the U.S. and its allies because they can be used on the battlefield.

CLSA downgraded certain stocks with stretched valuations and weaker industry spreads compared to their nemesis. The Hong Kong-based brokerage downgraded JSW Steel and Tata Steel while reiterating its underperform rating for Jindal Steel & Power. JSW Steel shares fell 3% to the day's low of Rs 818.50 on the NSE in the early trade. CLSA has downgraded the stock to 'Sell' from an earlier 'Underperform' rating while slashing its target price to Rs 730 from Rs 810. Today's correction comes on the back of a three-day rally. At 10:05 am, more than 14.27 lakh shares changed hands on the NSE with the total traded value at Rs 117.66 crore.