China Financial News

Luxury-goods stocks slumped in Europe, wiping out more than $25 billion in market value, after Richemont chairman Johann Rupert said inflation is starting to dent demand across the region.

Amidst the dynamic crypto landscape, Bitcoin currently trades at $25,787, reflecting a subtle rise of 0.04 percent on Thursday. However, a confluence of factors has spurred speculations on its future trajectory. Notably, the 'historic' heatwave has taken a toll on the crypto mining industry, leading to a significant 9% drop in Marathon's Bitcoin production. 

NEW DELHI : Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for the development of electronics manufacturing and industrial chains were huge. Speaking to reporters at an event in Taipei, Liu said India could build the ecosystem faster than China—which took 30 years—on the back of experience and new technologies such as artificial intelligence (AI). “Some of India’s developments over the past few years, everyone can see that.

Chinese technology corporation Tencent unveiled its “Hunyuan” artificial intelligence (AI) system, a multimodal large language model (LLM) similar to OpenAI’s ChatGPT, at the Global Digital Ecosystem Summit in Shenzhen on Sept. 7. 

Indian Prime Minister Narendra Modi says his country is “becoming the voice of the Global South."

Indonesia’s president has issued a stark warning after wrapping up a summit of Southeast Asian countries that was joined by China, the United States and Russia

NEW DELHI : In order to strengthen the domestic production of Active Pharmaceuticals Ingredients (APIs), the Department of Pharmaceuticals is conducting a first-of-its-kind study on the gaps and challenges in the sector. In this regard, all pharma companies and drug manufacturing associations have been asked to share the import and export data of APIs for analyzing the domestic industry, financial gaps and technological challenges to make India future-ready in the global market.

NEW DELHI : Prime Minister Narendra Modi may launch the much-anticipated Global Biofuels Alliance on 9 September during the upcoming G20 summit, said two people aware of the development. The marquee alliance with India, the US and Brazil as its founding members has received interest from 19 countries, from the G20 as well as outside it.

By David Lawder

U.S. News & World Report's annual Best Countries rankings. This marks Switzerland's second consecutive year at the pinnacle and its sixth time overall as the No.

Joe Biden, UK Prime Minister Rishi Sunak, Canada Prime Minister Justin Trudeau, Japanese Prime Minister Fumio Kishida are among the leaders to attend the G-20 meeting. The Chinese foreign ministry announced that President Xi Jinping will not attend the G20 Summit in New Delhi and the delegation will be led by Premier Li Qiang.

G20 meeting of world leaders in New Delhi over the next few days is likely to become an apogee for India’s foreign policy exertions, apart from providing an appropriate platform for the country to project its aspirations as an emerging global leader. Past top-level summits were never this comprehensive, nor attended by such a wide range of leadership.

Check out the companies making headlines in midday trading.

BEIJING : Eschewing face-time with foreign leaders at global summits this week, Chinese President Xi Jinping on Thursday visited the homes of villagers in a rural part of northeast China battered by floods. In the village of Longwangmiao in Heilongjiang province, Xi called on local residents to triumph over their difficulties and work towards returning life to a more normal footing, according to state media reports. He also enquired about their losses and supply of daily necessities.

₹3-5/litre around Diwali given key state elections start from November-December 2023. According to domestic brokerage firm JM Financials, this cut in fuel prices should mostly happen via reduction in excise duty or value-added tax (VAT), given the oil marketing companies (OMCs) lose out on auto-fuel marketing business at the current high crude prices.

Bloomberg. As per the report, California-based company Cupertino's shares dropped 5.1 percent, bringing its two-day slump to 6.8 percent.

Here's how the analysts read the market pulse: «The domestic market initially opened with lackluster performance, influenced by weak global cues. However, as the day progressed, a decline in U.S.

Faced with underwhelming sales figures, particularly in the fiercely competitive Chinese market, Tesla's (NASDAQ:TSLA) leadership sprung into action, escalating the price war.

India will be an important country in terms of manufacturing in future, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) has said, his latest comment adding to a growing chorus of global voices acknowledging the country's bold moves to position itself as electronics and hi-tech production powerhouse. In an interaction with reporters in Taipei, the top honcho of the Taiwanese electronics manufacturing giant said the development of the entire ecosystem and industrial chain, and opportunities for development in India are «very, very huge opportunities». «If there is no big change, India will be a very important country in terms of manufacturing in the future,» Liu said. In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an «appropriate amount of time in India» and the process will be shorter given the experience.

Fintech Summit here. «Yes, they (China) went into (digital) payments very early with Alipay and WeChat Pay. But the rest of it is very interesting.

Both funds have been underperforming their respective sector for a few years.