China Financial News

The escalation and de-escalation of the Israel-Hamas war has led to on-again, off-again risk premium for oil

By John Kemp

By Sophie Yu and Brenda Goh

Mahindra Lifespace Developers, the real estate and infrastructure development business of the Mahindra Group, has recorded pre-sales of Rs 455 crore for 0.68 million sq ft saleable area in residential business for the quarter ended September. The company’s collections in residential business during the quarter stood at Rs 311 crore. The developer launched 0.47 million sq ft of saleable area as part of its phase 3 at Tathawade in Pune. “The real estate industry is witnessing strong tailwinds especially in the mid-premium and premium segments.

Sajjan Jindal is reportedly in the process of establishing a significant presence in the Indian auto market. The plan involves acquiring a substantial stake in MG Motor India, a unit of the Chinese company SAIC, and subsequently acquiring Ford's factory in Chennai through a new entity.

United Nations Secretary-General António Guterres revealed the establishment of a 39-member advisory committee aimed at tackling matters related to the global regulation of artificial intelligence (AI) on Oct. 26.

BEIJING (Reuters) — China Southern Airlines reported a net profit of 4.2 billion yuan for the third quarter, its first profit in nearly four years.

Byron Wien, the longtime market strategist whose annual list of “10 Surprises” made him one of the most influential voices on Wall Street during a career at Blackstone Inc. and Morgan Stanley, has died. He was 90.

The Biden administration is meeting with China’s top diplomats this week to try to repair a relationship between the two superpowers that has grown rocky.

BEIJING — Chinese tech giant Huawei reported revenue figures Friday that showed only a 1% increase in the third quarter from a year ago, according to CNBC calculations.

Launched in September 2019, Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators. With a composite score of 79, India topped the EM league table in September.

HTX, the crypto exchange formerly known as Huobi Global and owned by Chinese blockchain personality Justin Sun, has announced a profit of $98 million for the third quarter of 2023.

Shein and PDD Holdings-owned Temu have applied to end their legal fights with each other in the U.S., documents show, marking a truce even as a global market share battle between the low-price online platforms heats up. Joint declarations were filed to courts in Chicago and Boston by lawyers representing the companies and their subsidiaries, requesting that two legal cases be dismissed «without prejudice» by their judges.

BEIJING — Chinese smartphone and appliance maker Xiaomi announced late Thursday a new operating system — as it seeks to develop its ecosystem with the imminent release of its own car.

Canadian Armed Forces (CAF) also needs to better incorporate “information operations” into their efforts to counter misinformation, and must co-ordinate with “other instruments of national power” during a time of so-called hybrid warfare.The document — which is not an official strategy or policy, but instead offers “guidance” — was released over the military’s internal communications network on Wednesday, and Global News obtained a copy through a source.It calls for a drastic reimagining of how the CAF views warfare ahead of the Liberal government’s long-awaited defence policy update, and while the CAF’s top brass are warning they are not prepared to properly address modern threats.The guidance document suggests that two adversaries — Russia and China — already believe themselves to be “at war” with Canada and its allies, and that those allies need to respond appropriately.“We must remember that Russia and China do not differentiate between peace and war,” Gen. Wayne Eyre, Canada’s Chief of the Defence Staff, wrote in the foreward to the document.“Their aim is not just regime survival, but regime expansion and a rewriting of the rules-based international order to their ends.

The BSE Sensex was trading 500 points higher, above 63,600. Nifty50 was trading above 19,000, up 155 points at around 9.50 a.m. From the Sensex stocks, Infosys, Tata Steel, M&M, NTPC, SBI and Wipro opened with gains, while only Asian Paints, UltraTech Cement, and HUL opened with cuts. Among individual stocks, Karnataka Bank rose 5% after the board of the bank approved the allotment of Rs 800 crore on a preferential basis. Meanwhile, Vodafone Idea shares traded nearly 3% higher despite its consolidated net loss widened to Rs 8,738 crore in Q2 FY24 from Rs 7,595 crore in Q2 FY23. All major sectoral indices logged gains.

China when they gather in Osaka this weekend. Group of Seven trade ministers convene on Saturday and Sunday against a backdrop of soaring geopolitical risk due to the Middle East and Ukraine conflicts and diplomatic relations frayed by sanctions and trade barriers meant to enhance industrial security. In an indication of the importance of supply chains, the G-7 will hold talks with India, Indonesia, Australia, Chile and Kenya.

₹45,800) for the 8GB RAM/ 256GB storage variant, CNY 4,299 (around ₹49,000) for the 12GB RAM/ 256GB storage variant, CNY 4,599 (around ₹52,300) for the 16GB RAM/ 512GB storage variant and CNY 4,999 (around ₹57,200) for the 16GB RAM/ 1TB storage variant. Meanwhile, the higher-end Xiaomi 14 Pro starts at CNY 4,999 (around ₹57,200) for the 12 GB RAM/ 256 GB storage variant and will be available for CNY 5,499 (around ₹62,500) for the 16 GB RAM/ 512 GB storage variant and CNY 5,999 (around ₹68,700) for the 16 GB RAM/1 TB storage variant.

Chinese blockchain personality Justin Sun, who also serves as the de facto owner of crypto exchange HTX (formerly Huobi Global), claims that the firm posted a profit of $98 million in Q3 2023.

Li was China’s No. 2 leader from 2013-23 and an advocate for private business but was left with little authority after President Xi Jinping made himself the most powerful Chinese leader and tightened control over the economy and society. The English-speaking, elite Peking University-educated economist was considered a contender to succeed then-Communist Party leader Hu Jintao in 2013 but was passed over in favor of Xi.

China’s ride-sharing giant Didi Chuxing has unveiled a new digital yuan service that will let citizens in 250 parts of the nation use their CBDC coins to rent motorcycles.