China Financial News

US Federal Reserve may once again choose to hold it at the 5.25-5.5% range for the second successive time in its upcoming decision on 1 November. While inflation has nearly halved since October last year, Fed Chair Jerome Powell has said it is still “too high" and the aim is to bring it down to the 2% target level. Since its last meeting in September, Fed officials have indicated a policy of ‘higher-for-longer’ interest rate regime, which means a cut is unlikely to happen anytime soon.

Ashwini Vaishnaw said. According to the telecom sector industry body Cellular Operators Association of India, telecom operators have not been able to monetise 5G service since its launch last year. «From the government side we are very clear.

Israel-Hamas war on the world economy may take time to become apparent but it would worsen if it spread to the Middle East, notably Iran, a major oil producer and Hamas sponsor. The global economy would be affected by rising oil prices near $90. Further escalation of the conflict towards other Middle Eastern oil producers is concerning and requires careful monitoring, especially given the global economy's 'higher for longer' interest rate scenario.

The Sri Lankan foreign ministry said on October 29 that a Chinese vessel has been granted permission to carry out marine research off the island's west coast under supervision. India has concerns that it could be a spy ship. Local scientists will be onboard Shi Yan 6 during two days of research activities, the ministry said. Before this, the vessel was being only allowed to enter the main port of Colombo for «replenishments» in view of India's concerns. India has for some time been uneasy over China's rising presence in the Indian Ocean and its influence in Sri Lanka. Last year, a spacecraft-tracking Chinese vessel last year had raised security concerns in India.

economic stimulus measures in China. The US dollar saw a boost from a combination of lackluster corporate earnings, safe-haven demand, and signs of the US economy's resilience. Notably, the US economy posted robust annualized growth of 4.9% in Q3 2023, despite higher interest rates. Core PCE prices and personal spending further reinforced the notion of sustained economic strength. As a result, the greenback reached a three-week high, trading at 106.89.

iron ore, ready to be poured into a procession of bulk carriers bound for Asia’s steel mills. Rio Tinto Group, the world’s largest iron ore producer, shipped its first cargo of the steelmaking ingredient from this spot in 1966, at the dawn of a boom that minted billionaires and lifted the Australian economy, generating A$1.3 trillion ($820 billion) in earnings in the past two decades alone. Last year, iron ore shipments accounted for about 5% of the country’s gross domestic product. But now China is cooling, while steel producers are under pressure to clean up a sector that accounts for at least 7% of global greenhouse gas emissions, a change that will require new methods and higher-quality raw materials.

China has stepped up efforts to pitch itself as a neutral broker for Mideast peace. China's top diplomat called his Israeli and Palestinian counterparts Monday, urging restraint. A Chinese envoy is traveling in the Middle East, pledging to help avert a wider war. At the United Nations on Wednesday, China vetoed a resolution on the war that did not call for a cease-fire.

In many ways, Elon Musk is the world’s biggest doomsday prepper. The billionaire entrepreneur has made his fortune and reputation chasing a future bettered by technology. The flip side of his optimism is a fixation on worst-case scenarios he is determined to avoid.

The Biden administration is contemplating measures to plug a loophole that has been enabling Chinese firms to acquire U.S. artificial intelligence (AI) chips through overseas channels, as reported by Reuters on October 13, 2023. This move underscores Washington's ongoing effort to curb China's burgeoning AI capabilities which are significantly anchored on U.S. chip technology.

The discovery of numerous Bitcoin mining operations with ties to China on American soil has flagged serious national security concerns among US authorities. A comprehensive report published by The New York Times on October 13 unveils a substantial presence of Bitcoin data centres in the US, traceable back to the Chinese government. The proximity of some of these operations to critical military and infrastructure sites further exacerbates the apprehensions. A notable case is a mining operation in Wyoming, situated adjacent to a Microsoft data center, pivotal in supporting various Department of Defence initiatives.

Industrial Automation solutions provider, Fuji Electric is looking to expand its presence in India and is doubling down on its investments in the country in a bid to diversify its supply chain operations from China. «As we have the three-year plan, we need to look for a bigger factory, and Tamil Nadu would be our first preference to do the investment,» Yosuke Ishizaka, Managing Director, Fuji Electric India told ET in an exclusive interaction.

United Nations resolution calling for a truce in Gaza is «shocking» and shows that it is shaping its foreign policy as «a subordinate ally of US imperialism,» the CPI(M) and the CPI said in a joint statement on Saturday. The CPI(M) said it will hold a protest on Sunday at its AKG Bhawan office to express solidarity with Palestine.

Border Security Force on Saturday found a drone and a packet of heroin in a field near the international border in Punjab's Tarn Taran district, an official said. The contraband was found in a joint operation between BSF and Punjab Police, launched on the basis of specific information in the outskirts of Wan village.

money laundering operation. The trio is accused of hacking into a payment gateway app and diverting funds to offshore accounts in Hong Kong, Singapore, and China through a hawala network. According to cops, Dighe, who possesses extensive knowledge of banking procedures due to his previous role, utilised his expertise to manipulate the system. He diverted the stolen money into various accounts before channelling it abroad.

Analysts are however hesitant to conclude that the bounce back will be sustained with geopolitical tensions and concerns over higher US bond yields continuing to cast a shadow over the markets. NSE's Nifty gained 190 points, or 1.01%, to close at 19,047.25. BSE's Sensex rose 634.65 points, or 1.01%, to end at 63,782.80. «The market has recovered due to a technical pullback after it was in the oversold category for the last six trading sessions,» said Dharmesh Shah, head, technical, ICICI Securities.

United States and China have agreed to work together toward an expected summit between presidents Joe Biden and Xi Jinping next month, U.S. officials said on Friday, following hours of meetings between Chinese foreign minister Wang Yi and senior U.S.

Chinese telecoms equipment maker Huawei Technologies has reported its profit inched higher in the first three quarters of this year despite persisting U.S. sanctions that have hindered both its sales and its purchases of advanced technology

The sudden death of China’s former No. 2 leader Li Keqiang has shocked many people in the country

Former Premier Li Keqiang, China’s top economic official for a decade, has died of a heart attack at 68

WASHINGTON (Reuters) — U.S. President Joe Biden met with China's top diplomat Wang Yi on Friday, the White House said.

By Casey Hall