China Financial News

Didi Global on Monday reported a third-quarter profit as domestic demand for mobility services improved, and also announced share repurchases worth up to $1 billion over the next two years. Didi Global reported net income attributable to shareholders of 107 million yuan ($14.66 million) in the three months ending September 30, compared with a loss of 2.01 billion yuan a year ago.

rupee ended at a record low at 83.34 a dollar. The local unit had hit its lifetime low of 83.42 to the dollar during the session. Also Read: Retail investors should avoid trading in derivatives, says NSE chief Ashish Chauhan Persistent outflows of foreign funds and a weak trend in the domestic equities weighed on the local unit, forex traders said.

Bloomberg reported that Mobius plans to step back from the namesake investment firm he co-founded five years ago. "London-based Mobius Investment Trust will continue to be managed by Mobius Capital Partners LLP, which is led by Founding Partner Carlos Hardenberg, according to a statement from the trust on Friday. The fund had $250 million in assets under management as of February," according to the Bloomberg report.

Chinese newly married couples stand to receive up to $715 worth of digital yuan tokens, discount vouchers, and coupons for tying the knot.

recession, but getting inflation back to normal levels may take several years, according to the International Monetary Fund. The growth outlook in Asia looks sour as China struggles to lure foreign investment, Hong Kong growth lags behind and Indonesian exports deteriorate. In the US, inflation expectations continued to climb as consumers anticipated higher gas prices. Separate data from the Census Bureau show how inflation is still inflicting significant financial stress for many Americans. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: Europe Europe’s economy is unlikely to crash — even as a more-than yearlong bout of interest-rate increases tames inflation, according to the IMF.

$553 million investment from the United States government for its West Container Terminal in Colombo, Sri Lanka, Karan Adani, CEO of Adani Group told reporters Adani Ports is eyeing further “opportunities in our neighboring countries", Bloomberg reported. Speaking to reporters in Colombo Adani also said the US financing, backed by the International Development Finance Corporation, is a "reaffirmation" of international support for the Indian conglomerate's companies. According to Adani, the neighbouring countries include potential ventures in Bangladesh, Vietnam, and Tanzania, besides the existing plans in Sri Lanka and Israel.

World Cup 2023 top run-scorers: Virat Kohli climbs to 1st position as Shreyas Iyer enters top 10; check others on list Jaishankar and his wife, Kyoko Jaishankar also offered prayers at the BAPS Shri Swaminarayan Mandir (Neasden Temple) in London during his UK visit. The BAPS Shri Swaminarayan Mandir is Europe's first authentic and traditionally built Hindu temple. Taking to his official handle on X, EAM Jaishankar shared details about his meeting with the UK PM.

It’s not just Gina Rinehart’s Hancock Prospecting that seems keen on Brazilian Rare Earths, the South American resources play that is counting down the days to a $314 million listing on the ASX. Whitehaven Coal, one of the country’s largest coal miners, is lurking on the register, sources say.

(Reuters) — Global ratings agency Fitch said on Monday it plans to withdraw all the ratings on China's Country Garden Services Holding on or about Dec. 12 for commercial reasons.

(Reuters) -China is considering resuming purchases of Boeing (NYSE:BA)'s 737 Max aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter.

By Kevin Buckland

Stocks in Asia rose on Monday while Treasuries and the dollar kept their composure, as investors took their lead from Wall Street's Friday rally, shrugging off a Moody's downgrade to the U.S. credit outlook. Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares. U.S.

Oil prices eased on Monday, reversing their rally on Friday, as renewed concerns over waning demand in the United States and China dented market sentiment. Brent crude futures for January were down 35 cents, or 0.4%, at $81.08 a barrel at 0051 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $76.82, down 35 cents, or 0.5%. Both benchmarks gained nearly 2% last Friday as Iraq voiced support for oil cuts by OPEC+, but lost about 4% for the week, notching their third weekly losses for the first time since May.

Karan Adani boasted that a newly inked $553 million US government financing deal toward a port terminal being developed by his family’s conglomerate was a “reaffirmation by the international community.” The announcement marked a welcome reprieve for India’s Adani Group following a damaging short-seller attack and a number of corporate fraud allegations leveled against it this year. It also signaled Washington’s endorsement for the port empire owned by Karan’s father and billionaire Gautam Adani — seen as a close ally of Prime Minister Narendra Modi — that would help curb China’s maritime influence in the Indian ocean. Those waters account for more than one-third of the world’s bulk cargo traffic and two-thirds of oil shipments. Chakri Lokapriya, chief investment officer at TCG Asset Management Co. in Mumbai, called Adani’s port ambitions a “strategic” play, assisting India to counter China’s own string of ports in its backyard, stretching from Sri Lanka to Pakistan. Now Adani Ports and Special Economic Zone Ltd., seen as the conglomerate’s crown jewel, is eyeing further “opportunities in our neighboring countries,” Karan Adani, the operator’s chief executive officer, told Bloomberg News in the Sri Lankan capital. Those include potential ventures in Bangladesh, as well as East African and Southeast Asian nations, including Tanzania and Vietnam, adding to its existing Sri Lanka and Israel developments, he said. In a world that’s “looking beyond China — it is indeed a Chinese-styled expansion by Adani,” said Sanjiv Bhasin, director at Mumbai-based IIFL Securities Ltd.

The strange thing is that the unease created by such events has been made worse for some investors because of a partial reversal of a long-standing trend. Longtime readers may have noticed my recurring observation regarding the heavy dependence of Indians on traditional fixed income investments.

The OECD's Crypto-Asset Reporting Framework will require crypto platforms to share taxpayer information with tax authorities.The UK government says that the standard could potentially recoup hundreds of millions of pounds in lost revenue.“Today we are sending out a strong message that we will not allow criminals to use crypto to avoid paying their fair share,” says Financial Secretary to the Treasury, Victoria Atkins.The 48 signatories to the agreement encouraged other countries to join them.

By Casey Hall

By Md Manzer Hussain

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Lucid commits to NACS in 2025; Tesla slumps in China; and XPeng delivers big.

Joe Biden and China's Xi Jinping have no shortage of difficult issues to discuss when they sit down for their first talks in a year, even if expectations are low that their meeting will lead to major breakthroughs. Each leader has clear objectives for the highly anticipated talks on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit, a meeting that comes after what's been a fractious year for the world's two biggest economies. Both Biden and Xi are looking to bring a greater measure of stability to a relationship that is being defined by differences over export controls, tensions over Taiwan, the wars in the Middle East and Europe, and more. A look at what each president is hoping to achieve during their talks: WHAT BIDEN WANTS The White House has made clear that the U.S.-China relationship is beyond the days where a meeting ends with a long list of announcements and agreements. Instead, Biden comes to San Francisco focused on managing the countries' increasingly fierce economic competition and keeping open lines of communication to prevent misunderstandings that could lead to direct conflict between the two powers. Expect Biden to defend U.S. expansion of export controls on semiconductor chips.

Joe Biden is determined to see the re-establishment of military-to-military ties with China, White House National security adviser Jake Sullivan said on Sunday during an interview with CBS' «Face the Nation» program. Biden will meet Chinese President Xi Jinping face-to-face for the first time in a year on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit.