China Financial News

Authorities in Bangladesh have announced a new minimum wage for garment factory workers after weeks of violent protests

By Paul Carsten

Lokpal has reportedly ordered a Central Bureau of Investigation (CBI) inquiry against Trinamool Congress (TMC) MP Mahua Moitra based on a complaint lodged by BJP MP Nishikant Dubey. This development follows a previous accusation by BJP MP Nishikant Dubey, who claimed that Mahua Moitra had been asking questions in the Lok Sabha with the intention of targeting the Adani Group and Prime Minister Narendra Modi at the behest of businessman Darshan Hiranandani in exchange for gifts.

Following the abrupt departure of Henry Tsai, Morgan Stanley's head of APAC internet banking Morgan Stanley appears to have lost another even more senior banker from its internet banking team. 

Josh Birenbaum, deputy director for the Center on Economic and Financial Power at the Foundation for Defense of Democracies, discusses why trading partners find it increasingly difficult to do business in and with Beijing.

Chinese President Xi Jinping said Wednesday that potential risks associated with artificial intelligence (AI) are challenges that countries should deal with together, remarks that come against the backdrop of China’s rigid control of free speech on the internet. At the same time, China has also maximized the internet’s economic benefits and social media’s propaganda contributions to the ruling Communist Party’s authoritarian agenda.

rupee closed little changed on Wednesday, wedged between buoyant local U.S. dollar demand on one side and a retreat in crude oil prices and U.S.

Modi said on Wednesday that the rise in patent applications in India demonstrate the rising innovative zeal of its youths and is a very positive sign for the times to come. He was reacting to a World Intellectual Property Organization report which said patent applications by residents of India grew by 31.6 per cent in 2022, extending an 11-year run of growth unmatched by any other country among the top 10 filers. China, the US, Japan, South Korea and Germany were the countries with the highest numbers of patent filings in 2022, it said. While innovators from China continue to file nearly half of all global patent applications, the country's growth rate dipped for a second consecutive year from 6.8 per cent in 2021 to 3.1 per cent in 2022, it said, while noting India's growth. Modi said on X, «The rise in patent applications in India demonstrate the rising innovative zeal of our youth and is a very positive sign for the times to come.»

ByteDance, the parent of short video app TikTok, is offering to buy back shares from its employees outside the United States for $160 apiece, a source familiar with the matter said on Wednesday, a plan that the company confirmed. The price per restricted stock unit is in line with an offer it made to current and former US employees in October, according to a Reuters report which said the company was looking to buy at least $300 million worth of stock at $160 per share.

Russia's troops fight on in Ukraine. Shoigu welcomed Zhang Youxia, a high-ranking general and vice chairman of Beijing's Central Military Commission in a red carpet ceremony in Moscow.

(Reuters) — Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, four people familiar with the plan told Reuters.

BEIJING/SHANGHAI (Reuters) — China's passenger vehicle sales jumped 9.9% in October from a year earlier, the China Passenger Car Association (CPCA) said on Wednesday, extending gains to a third month as carmakers raced to meet sales goals in the world's top auto market.

Brazilian Rare Earths will list on the ASX with a market capitalisation of some $315 million, with Canaccord Genuity and Petra Capital working to raise $50 million.

(Reuters) — Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, sources said.

YouGov-Mint-CPR Millennial Survey held in June, nearly 40% Indians felt the country was doing worse than China on creating jobs, even as they voted favourably for governance and economic growth. In terms of economic growth, India is in a sweet spot, with its biggest Asian rival, China, slowing down and the benefits of demographic dividend potentially attracting more investments in the country.

President Biden rightly says the U.S. is in a technological arms race with China. Then why is he ordering an across-the-board government intrusion into artificial intelligence (AI) that will slow American innovation? “To realize the promise of AI and avoid the risks, we need to govern this technology, not—and there’s no other way around it, in my view.

BSE on Wednesday, November 8, after the company said US International Development Finance Corporation (DFC) will fund Adani’s joint venture (JV) in Sri Lanka, for $553 million. "US International Development Finance Corporation (DFC) has announced that it will be funding Colombo West International Terminal Pvt. Ltd.

India and Malaysia are firming up a framework for conducting trade in national currencies and initiating a process to review the 12-year-old comprehensive economic cooperation agreement to include new domains and items, Malaysian Foreign Minister Zambry Abdul Kadir said. At the end of a three-day visit to India, Kadir told PTI that both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups.

Investing.com-- Most Asian currencies kept to a tight range on Wednesday, while the dollar maintained a recent rebound after several Federal Reserve officials warned against betting that the central bank was done with its interest rate hikes.

Investing.com-- Oil prices hovered around more than three-month lows in Asian trade on Wednesday as signs of a surprise spike in U.S. inventories raised doubts over just how tight supplies would remain.

Investing.com-- Most Asian stocks moved in a flat-to-low range on Wednesday as recent comments from Federal Reserve officials suggested that the central bank may not be done raising interest rates.