China Financial News

Industrial and Commercial Bank of China injected capital into its US unit to help pay BNY Mellon $9 billion for unsettled trades and hired a cybersecurity firm to enable it to resume normal business after a ransomware attack, sources familiar with the matter said. ICBC's US unit told market participants on Friday it was hoping to finish the cyber review over the weekend, but the sources said they expected it would spill into next week. Meanwhile, the bank is using manual processes to trade, they said.

India voted in favour of five resolutions relating to the situation in the Middle East, including one that condemned Israeli settlement activities in the Occupied Palestinian Territory, and abstained on one resolution. The Fourth Committee (Special Political and Decolonization) of the UN General Assembly approved six draft resolutions on November 9 all by recorded votes, relating to the situation in the Middle East, including the Palestinian question.

₹702.05 against the previous close of ₹777.60. However, it pared losses sharply and traded 1.04 per cent lower at ₹769.55 around 6:20 pm on BSE. The pharma company on November 10 reported a consolidated revenue growth of 6.3 per cent and adjusted EBITDA growth of 8.3 per cent year-on-year (YoY) for Q2 FY24.

Singles Day sales period, which wrapped up at midnight on Saturday. Meanwhile competitor JD.com said its festival GMV (gross merchandising volume) hit a «record high» over the sales period. Originally a 24-hour online shopping event held on November 11 each year in China, the 'Singles Day' festival — a nod to the digits in the date — has expanded into weeks of promotions across the country's major ecommerce platforms and in brick-and-mortar stores.

So when Washington and Beijing do economic battle, as they have for five years running, the rest of the world suffers, too. And when they hold a rare high-level summit, as Presidents Joe Biden and Xi Jinping will this week, it can have global consequences. The world's economy could surely benefit from a U.S.-China detente.

The Times of Israel said, citing the claim made by Ehud Ya’ari, the Arab affairs analyst of Israeli news platform Channel 12. The proposal was shot down by Saudi Arabia, the UAE, Jordan, Egypt, Bahrain, Sudan, Morocco, Mauritania and Djibouti, Ya’ari reportedly said. Livemint could not independently verify the development.

In the lexicon of the Indian bourses ‘Samvat 2080’ is more than the traditional Hindu accounting year beginning today. As always, there is a renewed air of anticipation as the bourses herald the new Samvat with their decades-old practice of  Muhurat (auspicious hour) trading. Post the pandemic, while the businesses have rebound with airlines, hotel-chains, cab-hire outfits getting busy, hospitals are also seeing increased footfalls with patients preferring a physical meet with the physicians than over a zoom call and other health  needs that took a back seat during the pandemic getting priority. What then is the outlook for the pharmaceutical industry and the healthcare providers.

China will hold a joint military exercise with five south east Asian countries in mid-to-late November, state media outlet Xinhua reported on Sunday. The exercise, to be held in China's southern Guangdong province, will include Cambodian, Lao, Malaysian, Thai and Vietnamese forces. The drills will be focused on counter terrorism and maritime safety, Xinhua said.

ecommerce platforms Tmall and Taobao recorded «positive» year-on-year growth over this year's Singles Day sales period, which wrapped up at midnight on Saturday. Meanwhile, competitor JD.com said its festival GMV (gross merchandising volume) hit a «record high» over the sales period. Originally a 24-hour online shopping event held on Nov. 11 each year in China, the 'Singles Day' festival — a nod to the digits in the date — has expanded into weeks of promotions across the country's major ecommerce platforms and in brick-and-mortar stores.

Alibaba Group reported that its Chinese e-commerce platforms Tmall and Taobao recorded «positive» year-on-year growth over this year's Singles Day sales period, which wrapped up at midnight on Saturday. Meanwhile competitor JD.com said its festival GMV (gross merchandising volume) hit a «record high» over the sales period.

Penny Wong said on Sunday that a security and migration pact signed with Tuvalu showed Australia was a «genuine, reliable» regional partner, as it seeks to counter China's influence in the Pacific. Australia announced on Friday the security guarantee to the tiny Pacific Islands nation to respond to military aggression, protect it from climate change and boost migration. Australia, a United States ally, has been working to shore up its Pacific standing amid a rising China, which recently upgraded a security pact with Solomon Islands. «It is about Australia saying to the region and to Tuvalu, we are a genuine, reliable partner and when we say we are part of the Pacific family, we mean it,» Wong told the Australian Broadcasting Corp, regarding the Tuvalu pact. Asked if it was linked to China's activity in the region, Wong said: «We recognise we live in a more contested region and we have to work harder to be a partner of choice, we know that». Under the treaty, announced in the Cook Islands by Australia's Prime Minister Anthony Albanese and his Tuvalu counterpart Kausea Natano, Australia will also vet Tuvalu's security arrangements with other nations. Albanese has called the pact Australia's most significant agreement with a Pacific Island nation, giving «a guarantee that upon a request from Tuvalu for any military assistance based upon security issues, Australia will be there.» Tuvalu, population around 11,000, is one of just 13 nations to maintain an official diplomatic relationship with Taiwan, as Beijing has made increasing Pacific inroads. A collection of nine low-lying islands mid-way between Australia and Hawaii, Tuvalu is one of the world's most at-risk countries from climate change and has long drawn

Also Read: Diwali 2023: What is ‘samvat’ and why does it hold significance for stock market investors? These results can be attributed to increased efficiencies, a decrease in commodity prices, and a steady demand environment. “The combination of stable yields and the Indian Rupee (INR), along with limited investment opportunities in sluggish markets like China, is anticipated to channel Foreign Portfolio Investment (FPI) into the Indian market," Ambani said in a note.

Also Read: From high inflation to import bill - the domino effect of rising crude oil prices on Indian economy Since November 2022 to now, Brent crude has swung from $89 per barrel to its 10-month high of $97 in late September, and coming down to its current $81.4 mark. Last week, the crude benchmark also crashed to $79/barrel mark over waning demand from top oil consumers including US and China. -In April 2023, OPEC+ announced oil production cuts of around 1.16 million barrels per day (bpd) in a surprise decision.

₹17,000 crore per month. Also Read: Down 4%, Nifty Midcap 150 declines more than Nifty 50 in October on global headwinds On Friday, the domestic equity benchmarks Sensex and Nifty 50 settled higher on Friday supported by fag-end buying in select heavyweights, including HDFC Bank and ITC, despite weak global cues. Nifty 50 ended at 19,425.35, up 30 points, or 0.15 per cent, while the 30-share Sensex pack ended 72 points, or 0.11 per cent, higher at 64,904.68.

Netflix made this announcement. At a promotional campaign it was announced that the first eight episodes will stream on March 21 next year.

Hamed Esmaeilion has to watch his back wherever he goes — unable to escape the oppressive and violent regime that rules his homeland of Iran, even when he’s in Canada.

Shoppers in China have been tightening their purse strings, raising questions over how faltering consumer confidence may affect the annual Singles’ Day online retail extravaganza

World leaders, CEOS, protesters and thousands of others will soon descend on San Francisco for a high-profile trade summit that could give the battered city a chance to reverse its image as a powerhouse in decline

U.S. Treasury Secretary Janet Yellen is suggesting that a ransomware attack that forced China’s biggest bank to take some systems offline only minimally disrupted the U.S. Treasury market

It is the first engagement between the leaders in nearly a year.

The futuristic B-21 Raider warplane has taken its first flight, moving it closer to becoming the nation’s next nuclear weapons stealth bomber