China Financial News

Mint, Nisheeth Srivastava, chief technology & innovation officer, India Industry Platform, Capgemini, shared that the increase in headcount aligns with industry competitors, marking a positive shift after a challenging FY24 across the IT sector. As of February 2024, Capgemini had 175,000 employees in India.

Investing.com-- Most Asian stocks retreated on Monday as persistent concerns over higher-for-longer interest rates sparked some profit-taking in technology stocks, while Japanese markets scaled new record peaks ahead of key inflation data.

Investing.com-- Most Asian currencies fell on Monday, while the dollar regained some ground as investors hunkered down before a barrage of cues on interest rates and U.S. inflation due later this week. 

Investing.com-- Shares of Chinese electric vehicle maker BYD Co Ltd (SZ:002594) rose on Monday after its Chairman and CEO Wang Chuanfu proposed the firm double the size of a planned share buyback. 

Asian shares are mostly lower, although the Tokyo stock markets touched another record high in morning trading

BEIJING – Chinese smartphone company Xiaomi believes it's identified a consumer niche that will pay up for its upcoming electric car in a fiercely competitive market.

Chinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC's Emily Tan in an exclusive interview Friday.

OnePlus is set to unveil its OnePlus Watch 2 at the Mobile World Congress in Barcelona today, while a dedicated Amazon microsite for the smartwatch reveals that it will launch in India alongside its global launch today. In a departure from the square design of the previous generation OnePlus Watch, the latest smartwatch will feature a circular design on the front and will run on Google's WearOS. According to tipster Ishan, the Indian version of the OnePlus Watch 2 will start at ₹24,999, while the US version will start at $299 and the UK and EU versions will start at £299 and €329 respectively.

Sensex eased 15.44 points, or 0.02%, to close at 73,142.80, while the Nifty 50 ended 4.75 points, or 0.02%, lower at 22,212.70. “This week, the market might take a pause ahead of various global economic data releases. US would be reporting its Q4 GDP numbers along with Initial jobless claim, PCE data and Consumer Confidence for the month of February.

There are so many crises raging around the world that you can ask why I have chosen to bring the one in Papua New Guinea (PNG) to your attention this fortnight. So let me tell you the reason upfront: It is an example of why hyper-diverse societies can end up in deep trouble unless they develop the necessary social capital needed to govern themselves. The post-colonial state was carved out of an arbitrary chunk of the Melanesian archipelago (the region comprising the easternmost stretches of Indonesia and islands northeast of Australia).

By Colleen Howe

By Jamie McGeever

Chainalysis has unveiled a new case of fraud involving a single company operating from a compound in Myanmar, which swindled a sum of over $100 million from victims in less than two years. 

Household Consumption Expenditure Survey (HCES) will likely have limited impact on consumer price index and inflation calculations, as the food component still accounts for a significant proportion of consumer spending in the country, experts said. The impact on urban inflation will likely be even lower than rural, as the decline in food spending is smaller for urban areas compared with villages. «The new HCES does not indicate big shifts in the consumer price index basket, as the ratio of food items remains high in total spending,» said Rahul Bajoria, managing director and head of EM Asia (ex-China) economics at Barclays. The HCES, which provides information and data on spending, is a key source of input for deciding of weights and shares for the composition of the inflation basket. The results, released on Saturday, were eagerly awaited in view of the update needed to the CPI basket, tilted heavily towards food. The latest survey will lead to an update of the base year for the calculation of consumer prices. It is 2012 for the current series based on the HCES of 2011-12. The National Statistical Office conducts the household consumer expenditure survey every five years. The last survey of 2017-18 was junked citing data inconsistencies. Experts say categories within food could bring about larger shifts in inflation dynamics. «Within food also there could be bigger shifts,» Bajoria said.

Civil Society Organisations Sunday said that there is no mandate for the adoption of the proposed agreement on investment facilitation for development (IFD) which is being negotiated by a group of members of the World Trade Organization (WTO), led by China. A WTO decision of 2004 prohibits negotiations on investment facilitation and efforts are on to bring the issue in through plurilateral means. Around 130 members support the pact. The US, Sri Lanka and Pakistan are also not part of this proposed pact. India and South Africa have opposed it as it neither has the WTO mandate or its members’ consensus and cannot be brought to the formal process in the WTO.

India and the United States are expected to hold the Homeland Security Dialogue on February 28, 2024, officials have said. Union home secretary Ajay Bhalla will lead the talks with his US counterpart. The two sides are expected to discuss cooperation in counterterrorism, cyber security, illegal mobility, extradition, aviation security, global supply chain and maritime security among others. The homeland security dialogue was last held in January 2022. According to North Block officials, senior officers from the two sides will participate in the day-long meeting. India is expected to hand over a list of more than 100 fugitives wanted by law enforcement agencies who have taken shelter in the US, according to those familiar with the details. New Delhi is likely to raise the use of digital space and how it is being exploited by terrorist groups for propagating radical views, recruitment and funding terrorism. The drug seizures by the Narcotics Control Bureau (NCB) will be shared by the Indian side seeking cooperation from the US Drug Enforcement Administration (DEA). NCB recently seized drugs worth ₹75 crore following inputs from the US DEA. The mastermind behind an international drug cartel was identified as a Tamil film producer, who is on the run.

China’s highest prosecutorial authority is stepping up efforts to combat the growing wave of cybercrimes by targeting criminals who exploit blockchain and metaverse projects for illegal activities. 

When Disney’s efforts to build a theme park in China became snarled in the late 2000s, Chief Executive Bob Iger sent his parks chief to Shanghai to figure out why government officials weren’t returning calls. Jay Rasulo recalls meeting with a high-ranking Communist Party official on the trip who urged him not to give up. “Jay, keep knocking at the gate," the official said.

new crew spaceship is named Mengzhou, which means dream vessel in Chinese, according to a statement from China Manned Space Agency Saturday. The moon lander is called Lanyue, meaning embracing the moon in Chinese.

Investing.com — Here are the biggest analyst moves in the area of artificial intelligence (AI) for this week.

By Nick Carey