China Financial News

Baidu on Tuesday announced modest year-on-year revenue growth of 6% in the third quarter of 2023, beating analyst expectations. Facing increased domestic competition and a sluggish economy, the company — which operates a major search engine and map service — has sought to diversify into cloud computing, autonomous driving, artificial intelligence (AI) and other sectors.

rupee fell to its record closing low on Tuesday as persistent local demand for the U.S. dollar weighed on the unit despite a rally in Asian currencies. The rupee ended at 83.3550 against the U.S.

China’s law enforcement agency in Wuhan arrested 27 individuals involved in a sophisticated crypto money laundering and crime operation involving 1 billion yuan, approximately $140 million.

Boult expects dependence on the Chinese supply chain is set to decline sharply as component manufacturing picks up pace in India, with local value addition around 15% compared with zero in early 2022. Boult cofounder Tarun Gupta told ET that this has been the trend since the Make-in-India initiative kicked off. To be sure, while some components such as batteries are sourced locally, most of the component supply chain is still in China. “Before early 2022, virtually everything was coming from China,” Gupta said.

wages increase by 7.2% on average in 2022 compared with 7% for women, according to a new report. Globally, the paycheque increase was 6.7% on average for men compared with 6% for women, says the ‘ADP Research Institute's People at Work 2023: A Global Workforce View’ report. The report, based on a survey of more than 32,000 workers across 17 countries, shows that the gender pay gap in India was lower than the global average. It says male and female workers in India expect their pay cheques to increase at the same rate-- 8%--over the next 12 months. Some 63% of the Indian survey participants expressed confidence in their company's advancement toward achieving gender pay equality over the last three years. This surpasses countries in the Asia-Pacific (APAC) region, with Australia at 34%, China at 51% and Singapore at 31%. While men received slightly higher pay raises last year, they are still more inclined than women to express dissatisfaction with their compensation.

Tesla Inc. that would allow the US automaker to ship its electric cars to the country from next year and set up a factory within two years, according to people familiar with the Indian government’s thinking. An announcement could come at the Vibrant Gujarat Global Summit in January, one of the people said, declining to be identified because the discussions are private.

BEIJING — China's property market, which makes up a substantial chunk of the country's economy, needs more government support to prevent it from deteriorating further, analysts said.

Northern Minerals executive chairman Nick Curtis is being targeted by Chinese interests accused of a covert attempt to gain control of the strategically important rare earths player.

defence cooperation and deepen the strategic partnership in sectors such as critical minerals and trade and investment. Defence minister Rajnath Singh and external affairs minister S. Jaishankar met Australian deputy prime minister and defence minister Richard Marles and foreign minister Penny Wong in New Delhi as part of the second India-Australia 2+2 Ministerial Dialogue. Understandably, the situation in the Indo-Pacific region amid China’s military ambitions figured in the Dialogue. In a post on X, formerly Twitter, external affairs ministry spokesman Arindam Bagchi said, «Ministers will exchange views on deepening multifaceted India-Australia ties, including in areas of defence and security, trade & investment, critical minerals, energy, climate change, S&T, space, education and people to people linkages.

The bakong, a digital currency operated by the National Bank of Cambodia (NBC), will provide users with access to the Alipay merchant network and enable cross-border transactions on Alipay+ using QR codes under a memorandum of understanding (MoU) signed at the FinTech Expo in Singapore, the local press reported.

Hong Kong Disneyland has opened its first Frozen-themed attraction, with thousands of eager visitors turning up to experience the new rides

The German government has pledged to invest 4 billion euros ($4.37 billion) in African green energy projects until 2030

The operator of Japan's damaged Fukushima nuclear plant says the release of a third batch of treated radioactive wastewater into the Pacific Ocean has ended safely as planned

BEIJING (Reuters) — China's Central Financial Commission (CFC), with Premier Li Qiang in place as its head, urged stronger supervision of risks in the multi-trillion dollar financial sector as China steps up the pace towards becoming a «major financial power».

₹8,260 per bbl, having swung from ₹8,018 per bbl, in the morning against a previous close of ₹6,252 per bbl on Friday. The drop in oil prices last week was primarily sparked by a significant increase in US crude inventories and production remaining at historic highs.

NEW DELHI : Spanish transport firms are interested in building high-speed railway networks in India, said the country’s ambassador Jose Maria Ridao Dominguez in an interview with Mint. Spain, which has the second largest network of high-speed trains in the world after China according to Dominguez, is interested in exploring the sector for its private sector companies. He mentioned Talgo, a Spanish manufacturer of high speed passenger trains, as an interested party in the high-speed rail sector. Besides this, defence is a key focus for Spain, Dominguez said.

BRICS leaders on Tuesday to discuss the Israel-Hamas conflict. The heads of state of six countries invited to join the group earlier this year — Saudi Arabia, Iran, Egypt, Ethiopia, Argentina and the United Arab Emirates — will attend the talks, the presidency said in a statement on Monday. United Nations Secretary-General António Guterres will also participate in the virtual meeting, it said.

Goldman Sachs Japan is facing a major transition with the immediate resignation of its president, Masanori Mochida.

Analysts at Jefferies cut the price target to $210 per share on Tesla (NASDAQ:TSLA) stock as 2024 is “already a lost year for growth.”

Berruga joined Global X as COO and CFO in 2014 and was named CEO in 2018. Under his leadership, Global X’s AUM has grown to $39bn and its market share has nearly doubled.

Crypto exchange Poloniex recently posted a message to the hacker responsible for stealing over $100 million in digital assets from one of its wallets, saying that it has identified the person and is giving the perpetrator a chance to return the assets in exchange for a $10 million bounty.