China Financial News

(Reuters) — DBS Group (OTC:DBSDY) Holdings said on Friday it was raising its stake in China's Shenzhen Rural Commercial Bank in a S$376 million ($284.72 million) deal, as it looks to tap into growing opportunities in the Greater China region.

(Bloomberg) — Membership of the BRICS group of emerging-market nations is set to double, with Saudi Arabia, Iran, the United Arab Emirates, Ethiopia and Egypt to join its ranks on Jan. 1, South Africa’s envoy to the bloc said. 

Analysts at Wedbush said in a note to clients covering the tech sector on Friday that Apple (NASDAQ:AAPL) remains its Top Tech Pick.

Chinese authorities have issued a stern directive for an enhanced crackdown on the use of cryptocurrencies, emphasizing their role in illegal foreign exchange trading as part of ongoing efforts to mitigate financial risks.

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The toy sector is a small part of the local manufacturing industry India is now trying to build to take advantage of global supply chains shifting from China, generate jobs for its huge youth population and become self-reliant in manufacturing as well as an export powerhouse. From telecom to auto to defence to semiconductors, India is subsidising local manufacturing in more than a dozen sectors. According to a BCG study on global manufacturing shifts, India enjoys a strong advantage in direct manufacturing costs as an export platform.

NVIDIA (NVDA) has launched a less powerful version of its latest graphics product for the Chinese market, to comply with export controls imposed by the US government.

By John Shiffman and Joshua Schneyer

JD.com (NASDAQ:JD) was awarded 1 billion yuan (~$140M) in damages on Friday, after the company won an antimonopoly lawsuit against Alibaba (NYSE:BABA), according to JD's WeChat statement.

Investing.com — U.S. stock futures edged higher Friday, looking set to end a strong year on a positive note.

Investing.com — Wall Street looks set to end the year on a positive note, as traders await next week’s crucial payrolls report. Boeing received some positive news from China, while Nvidia launched a new gaming chip in the important Chinese market.

loan repayment. Viral Bhatt, Founder, Money Mantra said, “2023 saw significant market volatility, with geopolitical issues, inflation, and interest rate hikes causing major fluctuations. This highlighted the need for investment strategies that could adjust to changing circumstances, rather than rigid approaches based on past performance." Mohit Ralhan, CEO, TIW Capital added, “2023 turned out to be a year of positive surprises on the macro front.

MG Motor India, the SAIC-owned British brand, plans to launch seven new models in the Indian market over the next couple of years, the company told a group of dealers invited to its headquarters in Shanghai within days of stitching a joint venture with the Sajjan Jindal-owned JSW Group. A spokesperson at MG Motor India declined to comment. During their visit, the dealers were showcased a line-up of models—some of which would be launched in India over the next 24 months, said several dealers who attended the meet earlier this month. On November 30, JSW Group and SAIC Motor announced an India joint venture to expand the operations of MG Motor owned by the Chinese.

SPIEF says its June 2023 event in St. Petersburg (Russia) witnessed 900 investment agreements worth about $47.6 billion, and 43 agreements between Russian and foreign businesses. Amidst global economic upheavals, SPIEF has been spearheading alliance building/ fostering alliances between Russia and its trade partners, including India.

By Joey Roulette and Steve Gorman

Sensex ended 371.95 points, or 0.52%, higher at 72,410.38, while the Nifty 50 gained 123.95 points, or 0.57%, to close at 21,778.70, on December 28. “Markets have been gaining for five consecutive trading sessions on the back of optimism over expected growth next year. Global markets too were supportive as investors hoped for an early rate cut in 2024.

«Overall we expect positive momentum to continue and markets to end the year on a buoyant note,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS

diesel buses, more than a third of the total on roads, with electric ones over the next seven years. Apart from lowering vehicular emissions, this is also expected to catalyse investments in the electric vehicle (EV) ecosystem in the country. The replacement plan includes 200,000 electric buses for state transport undertakings (STUs), 550,000 for private operators, and 50,000 for schools and employee transportation by 2030, top government sources told ET. Designed to electrify the country's public transport systems, the plan is likely to replace the third leg of the Faster Adoption and Manufacturing Electric Vehicles (FAME) incentive programme and pitch India as a global manufacturing hub for EVs. To put the plan in context, about 138,000 electric buses were sold in China and 4,000 in Europe in 2022. «Replacing diesel buses with electric ones will not only address environmental concerns but also help create an ecosystem for electric vehicles,» said one of the persons cited above.

IPO) in the world after China in 2023, according to data from Bloomberg. The world's most populous and fastest-growing economy recorded 240 IPOs during the year helped by a steady inflow from domestic investors amid a buoyant stock market.

China’s Supreme Procuratorate has reportedly disclosed the details behind the seven-year prison sentence given to the founder of the over-the-counter (OTC) crypto trading desk RenrenBit, Zhao Dong.

Assam government will sign a peace accord with the pro-talks faction of the United Liberation Front of Asom (ULFA), aiming to end decades-old insurgency in the northeastern state, officials said. Union home minister Amit Shah, Assam chief minister Himanta Biswa Sarma and more than a dozen top leaders of the pro-talks faction of ULFA, headed by Arabinda Rajkhowa, will be present during the signing of the peace agreement in the national capital. The accord will take care of a host of long-standing political, economic and social issues concerning Assam, besides providing cultural safeguards and land rights to the indigenous people, the officials said. The hardline faction of ULFA, led by Paresh Baruah, will not be part of the agreement as he has been consistently rejecting the olive branch offered by the government Two top leaders of the Rajkhowa group — Anup Chetia and Sashdhar Choudhary — have been in the national capital since last week and gave the final touches to the peace agreement along with government interlocutors, officials said. Those who have been talking to the ULFA faction from the government side include Intelligence Bureau director Tapan Deka and the government's advisor on the northeast affairs, AK Mishra. The Rajkhowa-led ULFA faction had begun unconditional talks with the central government in 2011, despite strong opposition from the hardline faction led by Paresh Baruah, who is believed to be residing at a place along the China-Myanmar border. The ULFA was formed in 1979 with the demand for a «sovereign Assam».