China Financial News

Charles Michel on Friday said the EU fully supported Prime Minister Narendra Modi's efforts to bridge the gap between the Global South and the Global North. He also said the EU supported India's efforts to build a consensus on a leaders' declaration for the G20 summit in New Delhi over the weekend. The comments came amid the G20's focus on addressing the challenges faced by the Global South under the Indian presidency. «I don't know if this is possible or not to have an agreement on a final communique, we will see. But we will defend our principles and will also support the efforts made by India,» Michel, who is here to attend the G20 summit, told a press conference. In response to a question by ET, Michel said the EU backed Modi's agenda for the Global South.

Investing.com — The S&P 500 was flat Friday, despite a rise energy and tech, but remained on course to end the week in the red as fears that the Fed may have to persist with higher for longer rates weighed on sentiment.

Premier Li Qiang heading the Chinese delegation. “China has been opposing almost everything that has been proposed. Their opposition ranges from not agreeing with the definition of green hydrogen to not acknowledging that the security of critical minerals is an issue.

Narendra Modi and US President Joe Biden on Friday stressed the importance of the Quad grouping in supporting a free, open, inclusive, and resilient Indo-Pacific. A joint statement issued after bilateral talks between the two leaders also said the Prime Minister looked forward to welcoming the US President to the next Quad Leaders' Summit to be hosted by India in 2024. The Quad, comprising India, the 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. Prime Minister Modi and President Biden also pledged to sustain the high-level of engagement between their governments, industries, and academic institutions and realize their ambitious vision for an enduring India-US partnership that advances the aspirations of their people for a bright and prosperous future, serves the global good, and contributes to a free, open, inclusive, and resilient Indo-Pacific, the statement said. The joint statement was issued after comprehensive talks between Modi and Biden to further economic and people-to-people bilateral linkages with the Prime Minister asserting that the friendship between the two nations will continue to play a great role in furthering global good. This is President Biden's first visit to India as US President.

Joe Biden Administration has stopped funding for a research program to discover thousands of exotic pathogens from around the world. Notifying the termination of the research program, the US Agency for International Development said that amid objections from lawmakers and many scientists, the program has been closed down within two years of its inception. A USAID spokesperson said that the funding was stopped after the “relative risks and impact” were re-evaluated.

G20 Summit: The world leaders are in New Delhi for the 18th G20 Summit which will begin on 9 September. US President Joe Biden and Prime Minister Narendra Modi held a bilateral meeting on Friday and soon the minutes of the meeting will be out. One of the major questions around the G20 Summit will be about the New Delhi declaration and as per Indian officials, the declaration is almost finalized.

airport. According to media reports, the G20 leaders will be treated to an exquisite Indian vegetarian platter with delicacies from across the country.

It may seem on first blush that Canada has taken a number of steps to protect its businesses in the past few years, given it has restricted Chinese companies from investing in this country’s critical minerals sector and introduced cybersecurity bills to protect critical infrastructure.

Australia and the Philippines have elevated their seven-decade ties to a strategic level to broaden an alliance underpinned by their rejection of China’s increasingly provocative actions in the disputed South China Sea

Apple has lost around $200 billion in market capitalization over several days as tensions between the U.S. and China rise, with several media outlets reporting this week that the iPhone maker is being singled out by Beijing

Visiting Chinese Premier Li Qiang has pledged $21.7 billion in new Chinese investment in Indonesia to strengthen the countries’ economic and political ties

China's Alibaba Group Holding Ltd is putting a potential Hong Kong initial public offering of its Freshippo grocery chain on hold amid weak sentiment for consumer stocks, Bloomberg News reported on Friday, citing sources. The Chinese technology conglomerate has concluded it could likely achieve a valuation of around $4 billion for Freshippo, which is lower than the $6 billion to $10 billion it was targeting when it considered raising a private funding round last year, according to the report.

markets, which have kept the chances of another interest rate increase this year. Despite Friday's fall, the greenback was headed for eight straight weeks of gains, the longest such streak since 2014. «The dollar is benefiting from a return of the U.S. exceptionalism theme,» said Vassili Serebriakov, FX strategist, at UBS in New York, referring to the country's economic outperformance compared to the rest of the world. «The resilient U.S.

Joe Biden arrived in 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 closed door meeting with PM Modi on Friday, after the former arrived in India. He was received at the airport by Minister of State for Road Transport & Highways and Civil Aviation Gen VK Singh (retd).

macroeconomic uncertainty. Oil producers Saudi Arabia and Russia extended their voluntary oil output cuts of a combined 1.3 million barrels per day (bpd) to the end of the year which resulted in a sharp surge in international crude prices - reaching a 10-month high peak earlier this week. Brent crude futures were up 53 cents to $90.45 a barrel, while US West Texas Intermediate crude (WTI) futures were up 39 cents at $87.26 a barrel, according to news agency Reuters.

(Reuters) — Embattled property developer China Evergrande (HK:3333) Group said on Friday it has delayed decision on an offshore debt restructuring from September to next month.

Investing.com -- Shares in Apple (NASDAQ:AAPL) climbed in early U.S. trading on Friday, paring back some losses from two straight days of declines that wiped around $200 billion off of the tech giant's market value. Media reports suggesting that government officials in China have been barred from using Apple’s iPhone and other foreign-branded mobile devices at work have sparked concerns that Beijing is willing to sideline American companies in favor of Chinese players. China is a crucial market for Apple, with the country accounting for nearly a fifth of its total sales. 

Artificial intelligence (AI) usage in social media has been targeted as a potential threat to impact or sway voter sentiment in the upcoming 2024 presidential elections in the United States. 

India, explicitly warning the ambassador to be more careful while commenting on sensitive matters of other nations. While speaking at an event titled 'China in Global Economy and its Impact in Nepal' on Saturday, Chinese Ambassador to Nepal Chen Song claimed that Nepal was facing a trade deficit from electricity trade with India. «Unfortunately, you have a neighbour like India, but fortunately you have a neighbour like India because India is a huge market with huge potential you can tap into. But at the same time, India's policy towards Nepal and other neighbours is not so friendly and is not so beneficial to Nepal.

Investing.com — U.S. futures traded slightly lower Friday, as investors weighed solid economic data and the possibility of more Federal Reserve rate hikes this year.

China's securities regulator said on Friday it recently held a meeting with domestic and overseas investors including Temasek, Bridgewater and Blackrock . They discussed views on the current macroeconomic situation, ways to boost investor confidence and suggestions on promoting the balance of investment and financing in the capital market, the China Securities Regulatory Commission said in a statement.