China Financial News

India has imposed anti dumping duty of $613 per tonne on flat base steel wheels from China for five years. «The anti-dumping duty imposed under this notification shall be effective for a period of five years from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency,» a notification issued by the Central Board of Indirect Taxes and Customs (CBIC) said. The product is used in tubed tyre applications in commercial vehicles. The duty is based on the recommendation by the Directorate General of Trade Remedies(DGTR), the investigation arm of the ministry of commerce and industry to guard domestic players against cheap imports from China. According to global trade practice, a country is allowed to impose tariffs on such dumped products to provide a level playing field for domestic manufacturers.

India is the top destination for Chinese companies, but it falls to 11th place in the overall rank as the most attractive destination when other factors are considered. In an Economist Intelligence Unit (EIU) report published this month, which indexes 80 investment destinations based on their appeal to Chinese investors, Singapore emerged the number one most attractive destination for Chinese companies to invest in. The China Going Global Investment Index uses a robust and quantitative approach to rank countries based on their attractiveness for Chinese outward direct investment (ODI). It is aimed at assisting Chinese firms narrow down the list of potential investment destinations, and also focus the minds of recipient governments on the issues that matter for Chinese investors. A total of 200 indicators were used to create the 2023 edition of the index.

JPMorgan Chase CEO Jamie Dimon blasted stricter capital rules proposed by U.S. regulators, telling investors on Monday that they could prompt lenders to pull back and stymie economic growth. The proposal to require banks to set aside more capital to guard against risk was «hugely disappointing» and involved a «lack of transparency» from regulators about the rationale, Dimon said at a conference in New York. «I wouldn't be a big buyer of a bank,» the chief of the largest bank in the U.S.

Nifty up more than 70 points from Monday's close on Nifty Futures and tracking positive global cues. Asian stock markets slid sideways, while the US stock market indices ended higher overnight. On Monday, Nifty and Sensex ended in the green for the sixth day in a row, each one gaining nearly 3%.

By Tom Westbrook

Joe Biden's visit to Vietnam weighed in at over 2,600 words. The section on human rights contained just 112 words, including a sub-heading. From business and strategic perspectives, Biden's visit to Vietnam on Sunday and Monday, and also to India late last week, will likely be seen as bolstering ties with countries that can help Washington counter China's growing might. But for rights advocates, Biden's travels were a disappointment, given his administration's vow to prioritize human rights when taking office in 2021. In Hanoi, Biden said the U.S.

In a regular press briefing on Monday, the US State Department official spokesperson Matthew Miller told reporters, «We absolutely believe it was a success. The G20 is a big organisation.

steel imports touched a record high in 2020, increasing by 23% to 2 million metric tons. China was the second-largest exporter of steel to India, falling behind only South Korea. Steel secretary Nagendra Nath Sinha stated earlier this week that the government was keeping a close eye on steel imports following apprehensions raised by the domestic industry about potential unfair trade practices by Chinese sellers.

Get ready for Geoff Hutchinson’s first big swing.

Investing.com-- Oil prices moved little in Asian trade on Tuesday as markets awaited forecasts on supply and demand from an OPEC report due later in the day, although optimism over recent supply cuts kept prices near 10-month highs.

China's foreign influence operations, it would represent a sensational case of infiltration. A 28-year-old British man who worked as a researcher deep inside Britain's Parliament was arrested in March on suspicion of working for the Chinese government. The man, who denies being a spy, worked with prominent lawmakers on China policy, raising fears of possible security breaches and widening a rift within the governing Conservative Party over how London should engage with an increasingly assertive Beijing. «The Chinese are infiltrating across the board; they go for anything and everything,» said Steve Tsang, director of the SOAS China Institute in London.

Casino and hotel giant MGM Resorts International says a cybersecurity issue led to the shutdown of computer systems at its properties across the U.S. A statement Monday from the Las Vegas-based company said the incident began Sunday and the extent of i...

India and Saudi Arabia have agreed to expand trade and security ties, two days after their leaders and others attending a Group of 20 summit announced a new railways and port corridor deal that will link India, Middle East and Europe

Nine passengers have been injured after an engine fire sent smoke into the cabin of an Air China jetliner landing in Singapore, prompting an evacuation of the aircraft

The former CEO of Alibaba has resigned as head of its cloud computing business in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle

Xinyu Wen traveled to Thailand in June, planning a two-week vacation around Bangkok’s Pride parade

President Joe Biden has wrapped up a five-day diplomatic sprint through Vietnam and India that put a spotlight on complicated relationships he believes will be crucial for global stability

Stocks that are trading heavily or have substantial price changes Monday: Qualcomm, Meta Platforms rise; J

By Jamie McGeever

Investing.com-- Gold prices rose on Monday, taking some relief from a drop in the dollar ahead of key inflation data due this week, while copper prices rose sharply as Chinese inflation data showed some signs of improvement.

Last week, two United States senators unveiled a bipartisan blueprint for artificial intelligence (AI) legislation. The framework put forward by Senators Richard Blumenthal and Josh Hawley advocates for mandatory licensing for AI firms and makes it clear that technology liability protections will not shield these companies from legal action.