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North Korea invited visiting Chinese delegates and Russian artists to a paramilitary parade featuring rocket launchers pulled by trucks and tractors, state media said Saturday, in leader Kim Jong Un's latest effort to display his ties with Moscow and Beijing in the face of deepening confrontations with Washington. The event in the capital, Pyongyang, which began Friday night to celebrate North Korea's 75th founding anniversary that fell on Saturday, came amid expectations that Kim will travel to Russia soon for a meeting with President Vladimir Putin that could focus on North Korean arm sales to refill reserves drained by the Kremlin's war on Ukraine. While China has sent a delegation led by Vice Premier Liu Guozhong to the North Korea's anniversary celebrations, Russia sent a military song and dance group. South Korean media speculated that the lack of Russian government officials at the festivities in Pyongyang could be related to preparations for a summit between Kim and Putin, which Washington expects within the month.

Joe Biden and Indian prime minister Narendra Modi are expected to announce the project as a part of the Partnership for Global Infrastructure Investment. The project, which is in line with president Biden's middle east strategy, will enhance connectivity, de-escalate conflict, and provide a counter for China's 'Belt and Road' initiative. This project, which will push commerce, energy trade, digital connectivity, high standards, will be executed in a transparent, non-coercive and sustainable way, Finer added.

Henry Farrell is the SNF Agora Professor at Johns Hopkins School for Advanced International Studies. Abraham Newman is a professor at the School of Foreign Service and government department at Georgetown University. This piece is adapted from their new book, “Underground Empire: How America Weaponized the World Economy," which will be published by Henry Holt on Sept. 12.

Narendra Modi looks to tout India’s growing prominence to world leaders at this weekend’s Group of 20 summit in New Delhi. Boosted by one of the world’s fastest growing economies, solid corporate earnings and an unprecedented retail investing boom, the nation’s equity benchmark is also approaching an all-time high. The milestones are a stark contrast to many emerging-market peers, not least to neighboring China, whose economic woes and struggling financial markets have become a source of frustration for global investors. In fact, troubles at its biggest EM rival have only burnished India’s appeal.

China's Didi Chuxing rose 52.6% for the April-June quarter from a year earlier to 48.8 billion yuan ($6.65 billion, as the ride-hailing firm emerged from a regulatory crackdown and demand rebounded with the end of strict COVID-19 restrictions. Didi posted a net loss of 300 million yuan, the company said in a statement on Saturday.

G20 partners will unveil ambitious plans Saturday to bolster trade between India, the Middle East and Europe, the United States said — a modern-day Spice Route that could more closely bind three regions that account for about a third of the global economy. Washington, Saudi Arabia, the EU, UAE and others will sign an agreement on the sidelines of the G20 summit to explore a railway and port project to augment trade flows between Europe and India, officials said.Track all the live updates here The agreement comes with Washington actively engaging with Riyadh, a major oil producer and security partner, as it encourages the kingdom to normalise ties with Israel. Jon Finer, US deputy national security advisor, said the announcement came after «months of careful diplomacy, quiet, careful diplomacy, bilaterally and in multilateral settings». Finer said the plan could include shipping and rail transportation projects to «enable the flow of commerce, energy and data from here in India across the Middle East to Europe». This project «has enormous potential» he said.

Maldives presidential election Saturday, a virtual referendum over which regional power — India or China — will have the biggest influence in the Indian Ocean archipelago state. President Ibrahim Mohamed Solih, perceived as pro-India, sought re-election for a second term amid allegations by his main rival, Mohamed Muiz, that he has allowed India an unchecked presence in the country. Muiz promised that if he won the presidency, he would remove Indian troops stationed in the Maldives and balance the country's trade relations, which he said, is heavily in India's favour. Muiz's party, the People's National Congress, is viewed as heavily pro-China.

tech stocks all year. Surging valuations and elevated interest rates doom them. Earnings forecasts are a fantasy.

Joe Biden and his allies intend to unveil a proposal on Saturday that outlines a shipping route linking India to the Middle East and potentially extending to Europe. This development could have a significant impact on global trade and is set to be announced during the Group of 20 summit. As reported by AP, the suggested agreement for a shipping and railway transport corridor would encompass the United States, India, Saudi Arabia, the United Arab Emirates, the European Union, and additional G20 nations, as confirmed by Jon Finer, the deputy national security adviser to the president.

Dave Sebastian and Yang Jie contributed to this article. Write to Aaron Tilley at [email protected] and Yoko Kubota at [email protected]

Buy or sell stocks: Despite weak trends from global market cues on rising China-US tension, Indian stock market finished higher on sixth day in a row. NSE Nifty gained 92 points and closed at 19,819 levels, registering best week in the last two months. BSE Sensex finished 33 points higher at 66,598 mark whereas Bank Nifty index ended 278 points up at 45,156 levels.

Taiwan will remain the world’s “indispensable and irreplaceable” source of the world’s most advanced microchips, the island’s US representative said, even as the Washington looks to ease its reliance on foreign partners for semiconductors.Hsiao Bi-Khim, the Taiwan government’s top emissary to the US, said Taiwan Semiconductor Manufacturing Co.’s move to build chip-making facilities in the US is an “important effort to further consolidate secure and stable supply chains.” At the same time, “we still see Taiwan as indispensable and irreplaceable,” Hsiao said in an interview on Bloomberg Television with Annmarie Hordern and Joe Mathieu. “It’s taken us decades to build the ecosystem that fosters the environment for very competitive production of semiconductor chips.” “As of now we don’t see anyone replacing that capacity that Taiwan has built over the years,” she said.TSMC, the world’s leading chipmaker, has committed to building a $12 billion facility in Arizona with the goal of making high-end semiconductors on American soil by late 2024.

economic data from China and Europe, and a surge in U.S Treasury yields. According to LSEG data, investors withdrew a net $5.96 billion out of U.S. equity funds during the week, compared with about $4.42 billion worth net withdrawn the previous week. Data pointing to a slowdown in the services sector in China and Europe in August, stirring concerns about global economic growth. Meanwhile, U.S.

Global market update: US stock market edged higher on Friday on resilience in the national economy even though investors await the key US inflation data expected next week. Dow Jones index added 0.22 per cent whereas tech heavy weight Nasdaq added 0.09 per cent. S&P 500 index gained 0.14 per cent.

₹1.5 lakh crore) each, will be a long-term investment for Australia. These subs are not expected to be operational until past the midpoint of the century. Meanwhile, ‘Ghost Sharks’, which are expected to cost just above AUD$23 million (around ₹123 crore) each, are planned for delivery by mid-2025.

Gold rate today: On account of US dollar climbing to six month peak, gold prices pared much of its previous week gains. The precious yellow metal price ended ₹91 per 10 gm lower at ₹58,907 levels on Friday whereas spot gold price finished around $1,918 per ounce levels. Likewise, silver price on MCX finished at ₹71,538 per kg levels whereas silver price in international market ended at $22.91 per ounce levels.

G20 Summit 2023 LIVE Updates: As Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina held a bilateral talk in New Delhi on Friday, the two countries also signed three memorandum of understanding (MoUs), including one on cooperation in Digital Payment mechanisms.Meanwhile, US President Joe Biden arrived in the national capital Delhi on Friday to participate in the G20 Summit to be chaired by Prime Minister Narendra Modi. US President Biden, along with Janet Yellen, went for a closed-door meeting with PM Modi on Friday, after the former arrived in India.The Quad, comprising India, US, Japan and Australia, has been focusing on practical cooperation to ensure a free and open Indo-Pacific in the backdrop of China's increasing military muscle-flexing in the region.The 18th G20 Summit is being held at the state-of-the-art Bharat Mandapam Convention Centre in New Delhi on September 9 and 10.A Leaders Declaration will be adopted at the conclusion of the New Delhi Summit.Check all the latest updates on the G20 Summit 2023 at Mint's LIVE blog:German Chancellor Olaf Scholz arrived in New Delhi today to attend the two-day-long G20 Summit which is being held under India's Presidency.He was received by Union Minister of State for MSME, Bhanu Pratap Singh Verma at the airport.A group of dancers also presented a traditional dance to welcome the German chancellor.In May this year Prime Minister Narendra Modi had met the German Chancellor Olaf Scholz and reviewed the progress in bilateral relations and exchanged views on regional developments and global challenges.The two leaders met on the sidelines of the 49th summit of the Group of Seven (G7) in the Japanese city of Hiroshima in May recently.

China as a money spinner. They gushed about its hundreds of millions of consumers, called it «one of the biggest opportunities» and made predictions that this would be «China's century.» Now, those executives have come away from recent visits to the country with a more sober view. Western companies doing business in China are facing pressures that were unimaginable several years ago.

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

NEW DELHI — Indian Prime Minister Narendra Modi and U.S. President Joe Biden pledged Friday to deepen the partnership between their countries in their second bilateral meeting in less than six months, as Delhi prepares to host a meeting among leaders of the Group of 20 leading industrialized and developing countries.

dollar edged lower but was on track for an eighth straight week of gains on Friday while global stock indexes advanced as Wall Street rose with Apple shares. The dollar index's weekly winning streak would be its longest since 2014, bolstered by recent reports showing the U.S. economy remains resilient. In contrast, the Chinese yuan fell to its weakest level since 2007 amid concern about China's slowing economy. Strong U.S.