China Financial News

economic data suggested the economy is stabilising and a weaker yuan constrained further monetary easing. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Better-than-expected third quarter gross domestic product (GDP) and retail sales data suggest China's economic recovery has started to improve, needing less monetary support. «Economic activity has stabilised and authorities can afford to wait a while before deploying more monetary easing down the road,» emerging market analysts at TD Securities said in a research note. Bearish sentiment over the yuan was also seen as a factor against further rate cuts.

BEIJING (Reuters) — China's curbs on exports of gallium and germanium products choked off international shipments of the chipmaking metals for a second consecutive month, customs data for September showed on Friday.

Asian shares plumbed a fresh 11-month trough on Friday as fears of a regional conflict in the Middle East intensified and as a relentless rise in long-term U.S. yields pressured valuations, while supply concerns lifted oil prices further. The surge in the 10-year U.S.

Russia’s government intends to use the digital ruble to make welfare payments, and wants citizens to use the CBDC to pay their taxes.

Google is in advanced talks with Indian electronics manufacturer Dixon Technologies as well as with Bharat FIH, an arm of Taiwan’s Foxconn, to set up production of its flagship smartphone Pixel 8 in India, people aware of the development told ET. On Thursday, Alphabet Inc’s chief executive Sundar Pichai announced that his company’s first made-in-India Pixel devices will be rolled out in early 2024, providing a significant boost to the country’s ambitions to emerge as a global electronics manufacturing hub.

bond yields surged to a 16-year high on Thursday to within sniffing distance of the psychological 5% mark, causing jitters in the global stock markets already edgy over the escalating West Asia conflict. The rising US yields along with a stronger dollar can raise India Inc's overseas borrowing and debt-servicing costs, though economists say India's strong fundamentals offer protection.

(Reuters) — Australia's Lynas Rare Earths reported a 21.8% fall in first-quarter revenue on Friday, hurt by lower product prices and continued accumulation of inventory.

NEW DELHI : India’s Prime Minister Narendra Modi spoke with the President of the Palestinian Authority Mahmoud Abbas on Thursday. “Spoke to the President of the Palestinian Authority H.E. Mahmoud Abbas.

laptops, tablets, and personal computers, aiming to monitor shipments of such hardware without hurting supply. The shift to a restrictionfree system comes two months after the announcement of a licensing regime for these products. Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that the policy tweaks seek to monitor the imports of these products to ensure that they were coming from “trusted” sources.

Hindustan Times. Referring to security and development assistance provided to the Indian Ocean archipelago by New Delhi, external affairs ministry spokesperson Arindam Bagchi told a regular media briefing that the Indian side’s cooperation with the Maldives is based on jointly addressing shared challenges and priorities. While responding to several questions on the Belt and Road Forum hosted by China and Muizzu’s comments endorsing the BRI, Bagchi said that India’s position on BRI, including the programme’s “lack of respect for our sovereignty and territorial integrity are well known and consistent".

Stock Connect is a mutual market access programme that connects Mainland Chinese markets with Hong Kong markets. The most recent addition to Stock Connect is called HKEX Synapse. The platform intends to standardise and simplify post-trade operations, with the end goal of lowering settlement risks and improving operational efficiency. Institutional investors, especially those whose operations span many time zones, will be able to make use of it as an optional service when it becomes available.

SEOUL—Russia said it supports holding regular security talks with North Korea and China to address the threat posed by the U.S. on the Korean Peninsula, as Moscow draws closer to its partners and attempts to counter Western isolation. Russian Foreign Minister Sergei Lavrov backed the idea during his two-day trip to North Korea that ended Thursday, according to Russian state media.

PARIS (Reuters) -Third quarter sales at L'Oreal rose 11.1%, led by growth in Europe and the United States but missing expectations for a strong rebound in China.

India on Thursday once again voiced its opposition to China's Belt and Road Initiative (BRI) as the project lacked respect for New Delhi's sovereignty and territorial integrity. External Affairs Ministry spokesperson Arindam Bagchi said unlike in the past, India had not been invited by China to this year's Belt and Road Forum.

China has more than 500 operational nuclear warheads in its arsenal and will probably have over 1,000 warheads by 2030, the Pentagon said in its annual report on Beijing's military that was released on Thursday. Despite the growing number of China's nuclear weapons, they are still much lower than what Russia and the United States have. The United States has a stockpile of about 3,700 nuclear warheads, of which roughly 1,419 strategic nuclear warheads were deployed. Russia has about 1,550 nuclear weapons deployed and according to the Federation of American Scientists, a stockpile of 4,489 nuclear warheads. In the wide ranging report, the Pentagon said China's more than 500 warheads as of May 2023 were on track to exceed projections. In a previous report, the Pentagon estimated that Beijing had more than 400 operational nuclear warheads in 2021. «We see the PRC (People's Republic of China) continuing to quite rapidly modernize and diversify and expand its nuclear forces,» a senior U.S.

Global fintech giant Airwallex on Thursday said it has agreed to acquire MexPago, a rival payments company based out of Mexico, for an undisclosed sum to help the firm expand its Latin America footprint.

China's CATL (SZ:300750), the leading global battery manufacturer for electric vehicles (EV), announced on Thursday that its third-quarter profits had grown by 10.7%, representing the company’s slowest quarter since the beginning of last year. Management attributes the slowdown to a combination of reduced demand and intensified competition.

Apple Inc. is casting doubt on the argument that the world’s most valuable company is immune to risks related to economic turbulence. Tepid sales in China for its new iPhone models have fueled concerns about Apple’s ability to justify its pricey valuation and avoid a streak of four consecutive quarters of falling revenue — which would be its worst run since 2001.

The Conflux price has fallen by 3% in the past 24 hours, with its drop to $0.103716 marking a concerning 9% loss in a week.

Russia’s strategic dependence on China has only grown since the war. This year, trade between the two powers has soared to levels not seen since the beginning of Moscow's war in Ukraine, with Chinese imports of Russian oil offering Moscow a critical lifeline as international sanctions bite.

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