China Financial News

New Delhi: India's export of cut and polished diamonds is projected to decline by 22 per cent to USD 17.2 billion in the current fiscal due to weakened demand from the key consuming nations, according to rating agency Icra. In the first five months of the current fiscal, cut and polished diamond exports witnessed a sharp year-on-year decline of 31 per cent following lower export volumes and higher polished diamond prices, it said.

By Yantoultra Ngui

Tesla (NASDAQ:TSLA) and other European car manufacturers that export vehicles from China to the European Union (EU) will be included in the EU's investigation into whether China's electric vehicle industry is benefiting from unfair subsidies, according to the Financial Times.

After years of sales troubles in China, Ford Motor saw a chance to ride the tide of electrification to arrest its demise. From around 2020, the automaker followed Tesla’s formula of bypassing dealers to sell its cars directly to consumers. It introduced the Mustang Mach-E—an electric SUV with the iconic galloping horse logo, which Ford’s executives saw as a strong competitor to Tesla’s EVs.

JPMorgan Chase & Co. CEO Jamie Dimon says geopolitics after Russia's invasion in Ukraine is the biggest risk, larger than high inflation or a U.S. recession.

China: Tesla Inc. During the evidence-gathering that precipitated this month’s surprise announcement of an EU anti-subsidy probe into Chinese EVs, the US carmaker was among the companies found to have likely benefited, according to people familiar with the matter. Tesla shares fell 1.6% in premarket trading at 5:58 a.m.

The XRP price has climbed back above the all-important $0.50 level today, with its rise to $0.501776 representing a 1.5% gain in 24 hours and a 6% increase in the past fortnight.

European luxury stocks fell again on Tuesday as Morgan Stanley joined the chorus of analysts warning that demand for expensive handbags and jewelry in China and Europe is likely to slow.

Click here! Earlier on Monday, Thakur had China and had called Indian athletes from Arunachal Pradesh not getting visas as an "discriminatory" act. Beijing's move "is not acceptable to India and I have cancelled my trip to China on these grounds as they have denied the opportunity to the players from Arunachal Pradesh to be a part of the Asian Games," Thakur added.

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Hours after the crypto exchange HTX (rebranded from Huobi) reported a hack that resulted in a loss of $8 million, Binance CEO Changpeng “CZ” Zhao offered the help of the exchange’s security team in investigating the attack.

The Cardano price has risen by 0.5% in the past 24 hours, reaching $0.246018 as the cryptocurrency market as a whole makes a similarly modest move today.

By Kevin Buckland

ICRA expects India’s exports of cut and polished diamonds (CPDs) to fall by 22% to $17.2 billion in FY2024, amid weakened demand from the key consuming nations. According to ICRA’s recent note on the sector, CPD exports have been on a declining trend since H2 FY2023. In 5 months of FY2024, CPD exports witnessed a sharp YoY decline of 31%, led by a decline in both export volumes and polished diamond prices.

When Reddy and his wife, Chandra Gangareddy, immigrants from southern India, settled in the Des Moines suburbs in September 2004, they could count the number of Indian American families on one hand. Only one Indian American had ever served in Congress at the time, and none had dared to mount a bid for the White House. Now, for the first time in the nation's history, two Indian Americans — Nikki Haley and Vivek Ramaswamy — are serious presidential contenders who regularly invoke their parents' immigrant roots.

NITI Aayog will soon undertake the evaluation of India’s biggest subsidy schemes, the National Food Security Act and LPG subsidy, to rationalise expenditure, prevent leakage and ensure benefits are reaching the eligible candidates. The Development Monitoring and Evaluation Office, which is an attached office of NITI Aayog, has invited proposals for a central coordinating agency for evaluation of the two schemes, which together cost the exchequer nearly Rs 4,00,000 crore a year. “The government implements one the largest public food and nutritional safety nets in the world through the National Food Security Act (NFSA), enacted in 2013. However, despite the large public expenditure, gains in the food security and nutritional outcomes in India have been slow with the country accounting for roughly 30% of the global burden of hunger,” the DMEO said in the RFP document. Explaining the rationale behind evaluation of the LPG subsidy, the DMEO further said that India is the third largest energy consumer in the world after China and the USA. “The current consumption of LPG in India has risen to 12.3% of total petroleum products compared to 1.13% of kerosene.

South China Morning Post. In a recent paper written with colleagues, Shi who is also popularly known as “batwoman," warned that the world must be prepared for another disease like Covid-19 because “if a coronavirus caused diseases to emerge before, there is a high chance it will cause future outbreaks," she said as quoted by the SCMP.

Chinese trade officials say the country’s manufacturers are vital in preventing an annual shortfall of 270 wind towers in Australia as they urge the federal government to scrap anti-dumping duties.

lockdown that had confined them to their dorms, sometimes ten to a room, for weeks on end. Zhengzhou has become one of China’s most problematic cities. GDP per person in Henan province, of which it is the capital, sits at 27% below the national average.

Alibaba, a prominent Chinese tech company, had been subject to control by the ruling Communist Party. However, the Asian Games taking place in Alibaba's hometown are presenting a valuable opportunity.

India has allowed the export of non-basmati white rice to the tune of 75,000 tonnes to the UAE. Notably, the export of non-basmati white rice was prohibited from July 20 to check the domestic prices and ensure domestic food security. The exports to UAE are permitted through National Cooperative Exports Limited, the Directorate General of Foreign Trade said in its notification on late Monday evening. While amending the export policy, DGFT maintained that the export will be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their government. Last month, India had decided to allow the export of rice to «meet the food security requirements» of Singapore. West African country Benin is one of the major importers of non-basmati rice from India.