China Financial News

TAIPEI (Reuters) -Domestic flights were cancelled and almost 4,000 people were evacuated as Typhoon Haikui barrelled into southeastern Taiwan on Sunday bringing torrential rain and strong winds.

Christopher Nolan's latest film, Oppenheimer, has taken the global box office by storm, raking in nearly $800 million in revenues. Released on the same day as the blockbuster Barbie on July 21, 2023, which has collected around $1.34 billion worldwide, Oppenheimer's success raises some intriguing questions. How did a movie centered around a relatively unknown scientist manage to become a massive hit? Oppenheimer is a dialogue-heavy film with three parallel timelines, two in color and one in black and white, constantly shifting chronologically.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla’s continued legal troubles; US commits to EV advancement; and China EVs shine in August.

A week ago, Saudi Crown Prince Mohammed bin Salman sat with Iranian Foreign Minister Hossein Amir-Abdollahian in Jeddah for a meeting — or more importantly photo opportunity — he intended the world to see.

By Francesco Guarascio

By Arpan Chaturvedi

Investing.com — After Friday’s jobs report cemented expectations that the Federal Reserve will keep interest rates on hold later this month, the economic calendar will be lighter in the coming holiday-shortened week. Stocks go into September after notching up strong weekly gains last week, while data out of China will likely add to concerns over the outlook for the world’s number two economy. The Reserve Bank of Australia will likely stand pat for a third straight meeting and supply worries look set to underpin oil prices.

electric scooter manufacturer, Apollo Imports, has initiated a product recall due to safety concerns surrounding a potentially hazardous loosening bolt. The recall, prompted by the Consumer Product Safety Commission (CPSC), targets Apollo's Phantom Electric Scooters produced in China. The identified issue impacts the Phantom V1, V2, and 60V electric scooter models, which were available for purchase from June 2021 to May 2023.

Nifty is located around the 19,200 and 19,600 zones, respectively. On the other hand, the areas of support and resistance for the Bank Nifty are 43,600 and 45,000, respectively, Aamar Deo Singh, Head Advisory, Angel One, tells ETMarkets. It is recommended to stay light until we see a clear trend emerging because the short-term and medium-term charts are not in sync in such situations, which usually results in turbulent trading sessions, he says.

G20 events in Kashmir, which they called “disputed." Notably, Pakistan is not a member of the G20 group but has joined China to share its objections. In May 2023, India hosted the third G20 working group meeting on tourism in Srinagar, which was attended by delegates from all G20 countries except China.

Shanghai | Tesla shares fell more than 4 per cent on Friday after the electric automaker unveiled a restyled, China-made Model 3 with a longer driving range and a higher price.

Nifty Auto index has rallied by 24% YTD. Initially, we had a sceptical view regarding the sector’s outlook due to fading pent- up demand and high vehicle costs. However, lower input costs and price hikes have driven margin expansion leading to stable earnings growth.

GDP share of the six new members, being added to the five-member BRICS grouping of emerging economies from January, will be just 11 per cent, with Saudi Arabia's contribution the highest at 4 per cent, an analysis shows. The proposed addition of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to the five-member BRICS, or Brazil, Russia, India, China and South Africa, will also see the grouping's share in the global GDP rising to 30 per cent from 26 per cent now and that of the population to 46 per cent, according to an analysis by the SBI Research. The expansion decision, effective January 1, 2024, was announced at the recent BRICS summit held in Johannesburg. Currently China contributes 70 per cent of the BRICS' GDP, which will decline to 62 per cent, while India chips in with 13 per cent now that will inch down to 12 per cent.

Prime Minister Narendra Modi by Editor-in-Chief Vijay Joshi and senior editors late last week at his Lok Kalyan Marg residenceQ: The G-20 Presidency has given India the opportunity to promote its vision for a sustainable, inclusive and equitable world, and to raise its profile as a leader in the Indo-Pacific region. With just days left for the summit, please share your thoughts on achievements of Indian Presidency.A: To answer this question, we need to set the context on two aspects. The first is on the formation of the G20. Second is the context in which India got the G20 Presidency. The genesis of the G20 was at the end of the last century. The major economies of the world got together with a vision of a collective and coordinated response to economic crises. Its salience grew even more during the global economic crisis in the first decade of the 21st century. But when the pandemic struck, the world understood that in addition to the economic challenges, there were also other important and immediate challenges impacting humanity.

economic development. Ultimately, India aims to emulate China's success in moving a substantial portion of its population from lower-income status to the middle-income bracket. Also Read: Indian-origin Tharman Shanmugaratnam wins Singapore's presidential election In essence, Tharman Shanmugaratnam pointed out that India's approach to its economy has been characterized by excessive government intervention and inadequate investment in social and human development.

Narendra Modi has said it is natural for India to hold G20 meetings in every part of its territory as he dismissed Chinese objections over some of the events being organised in Kashmir and Arunachal Pradesh. As part of its efforts to showcase India's cultural and regional diversity at a global stage, the Modi government has hosted G20 events across the country's length and breadth.China, a G20 member, and Pakistan, which is not a member of the bloc, had objected to the decision to hold one of the events in Kashmir, which they call «disputed». China also disputes India's sovereignty over Arunachal Pradesh.

Debt crisis is a matter of great concern for the world, especially developing countries, Prime Minister Narendra Modi has said, as India looks at building consensus at the upcoming G20 summit to evolve a tangible framework to help the debt-ridden low income economies. In an exclusive interview to PTI late last week, Modi said India's G20 presidency has placed a significant emphasis on addressing the global challenges posed by debt vulnerabilities, especially for nations in the Global South. «The debt crisis is indeed a matter of great concern for the world, especially developing countries. Citizens from different countries are keenly following the decisions being taken by governments in this regard. There are some appreciable results too,» Modi said. «First, countries that are going through debt crisis or have gone through it, have begun to give greater importance to financial discipline,» Modi said. «Second, others who have seen some countries facing tough times due to the debt crisis are conscious of avoiding the same missteps,» Modi said. Under its G20 presidency, India has been consistently highlighting the need for a framework on debt restructuring to help countries facing mounting debt problems.

Modi has made a strong pitch for altering the approach on climate talks, from restrictive to constructive, and urged nations not to focus on «don't do this or that». In an interview to PTI ahead of the G20 Leaders' Summit this weekend, the prime minister said there was no «one-size-fits-all» solution to fight climate change. The prime minister said India has left no stone unturned in meeting its climate goals despite accounting for less than five per cent of the cumulative emissions. «So, we are certainly on track while also tailoring in various factors needed to ensure growth,» he said. «We are perhaps the first among the G20 countries to have achieved our climate targets nine years ahead of the scheduled date,» the prime minister said. He said India's action against single-use plastic has been recognised across the world and has also made great strides in safe sanitation and cleanliness.

debt problems gripping a number of developing world nations will be a core topic during the G20 summit in Delhi next month. Below is a look at countries currently facing problems.

Hindustan Times, it is known that PM Modi is inclined to arrange a dinner for one of his close friends and a lunch for the other, but the actual timing of these events will be contingent on President Biden's arrival schedule on Friday and President Macron's departure to Dhaka on Sunday, following the conclusion of the G-20 summit. President Biden is set to be extended an invitation for dinner on Friday, though the timing may take into account any potential jet lag.

Andrew Holland, CEO, Avendus Capital Public Markets Alternate Strategies LLP, says “HDFC Bank is cheaper, or is at a similar level to where it was three years ago, for a reason. And that is because the market is still waiting to see how the merger pans out. That will continue to be a wait and watch approach by the market before it gives a thumbs up to the merger. And of course, I have just been looking at some data which is showing credit growth is starting to slow.” Are you also digging out within the PSU pack because that clearly seems to be the flavour of late? No, it is the whole. Let us take the banking sector, it has been a laggard now for some time. So, it is not surprising that you get some kind of a relief rally or rally in the index. But it is not compelling. It does not give me the confidence to say that we are not going to drift down over the next few weeks. There are a lot of events ahead of us. There are a lot of messy global factors which are still playing out, whether it is China, Japan, and the Fed, with their policy coming this month. So, yes I expect a lot more volatility.