China Financial News

AI is taking the world by storm, a manufacturing revolution is taking place in India, banking on the opportunity of “China-Plus-One” to become the factory of the world. Buoyed by Tim Cook’s visit and the decision of “Friend-shoring” by Apple to Make in India, India seems poised to “Make in India for the World”, paving the way for India to outgrow other economies of the world in this decade. If India is to realise the vision of becoming the factory of the world, it cannot be done by adopting conventional manufacturing techniques that involve loading the shop floors with cheap labour and strenuous work.

During the week, over 100 smallcap stocks delivered double-digit weekly returns with 15 of them offering over 25% gains. RailTel was the top gainer in the smallcap pack with 46% return, followed by India Pesticides (41.9%), Optiemus Infracom (36.3%) and HLV (33.7%). About nine stocks, including Jaiprakash Associates, Pearl Global, Himadri Speciality, MTAR Tech, Bajaj Healthcare, among others delivered between 20-25% gains during the week. In the midcap segment, eight stocks, including BHEL, Vodafone Idea, IRFC among others rose in double digits. While BHEL gained nearly 30%, Voda Idea and IRFC were up 15% each. In the Sensex pack, Tata Steel topped the charts with 8.7% returns, followed by Maruti Suzuki at 8.66% and NTPC at 5.85%. Sector wise, there was heavy buying in metal stocks in anticipation of further stimulus measures from the Chinese government.

Typhoon Saola made landfall in southern China before dawn Saturday after nearly 900,000 people were moved to safety and most of Hong Kong and other parts of coastal southern China suspended business, transport and classes. Guangdong province's meteorological bureau said the powerful storm churned into an outlying district of the city of Zhuhai, just south of Hong Kong at 3:30 a.m.

Mint's journalists tried to take all their interactions very seriously. Many of our correspondents unsheathed the interview technique to bring us exclusive reports and analytical pieces. They're yours to judge.

solar observatory mission, Aditya L-1, from its premier satellite launch centre Sriharikota, off the coast of Andhra Pradesh. If successful, India will become the fourth country to place a spacecraft in an orbit around the Sun-Earth Lagrangian point, termed L1, after the US, Europe and China, top solar scientists said. Earlier, USA’s National Aeronautics and Space Administration (NASA) and European Space Agency’s (ESA’s) joint mission Solar and Heliospheric Observatory (SOHO) and China’s Chang’e-5 extended mission have reached L1.

Investing.com-- Gold prices moved little on Friday, steadying near three-week highs as markets awaited more cues on U.S. monetary policy from nonfarm payrolls data due later in the day, while copper prices rose on positive Chinese factory data.

China intensified efforts to stimulate the economy and support its currency, as investor concerns over the growth outlook persist. The central bank will trim the amount of foreign currency deposits banks are required to hold as reserves for the first time this year, the People’s Bank of China said Friday. The move came hours after authorities announced fresh stimulus for the beleaguered property sector and unveiled plans to expand tax breaks for child and parental care and education. The steps are the latest efforts to shore up confidence in the world’s second-largest economy, which is sagging under the weight of the persistent housing crisis, waning global demand and rising unemployment. Authorities have so far resorted to a drip-feed of targeted measures, avoiding the big-bang stimulus approach they deployed during the 2008 global financial crisis amid concerns over elevated debt levels. “The policy package exceeds market expectations,” said Zhaopeng Xing, senior China strategist at Australia & New Zealand Banking Group Ltd. “Confidence will be boosted in the near term. We still need more evidence to confirm if it marks a turnaround.” Financial institutions will need to carry just 4% of their foreign exchange deposits in reserve starting Sept. 15, the PBOC said, compared to the current level of 6%.

NEW DELHI : India remains a “large opportunity" for Amazon.com Inc. globally with the e-commerce firm constantly unleashing investments in the market amid expectations that the nascent e-commerce market is only set to grow, said a top global executive at the Seattle-headquartered firm. “If you look at some of the big markers of opportunity, we certainly feel India is on the shortlist of the largest opportunities we have as a business.

It is hard to find a good deal on a German car these days. Most German car stocks, on the other hand, are selling for cents on the dollar. There are solid reasons for the discrepancy: weakening consumer sentiment, trouble in China, and the ever-mounting cost of catching up with Tesla in electric vehicles.

NEW DELHI : Average room rates for premier New Delhi hotels are set to triple next week, reaching a range of ₹18,000- ₹25,000, amid heightened demand driven by the arrival of thousands of delegates from 20 nations for the G20 summit across 9 and 10 September. The average daily rate (ADR), a key metric used by hoteliers to measure room revenue, from 7-11 September surged to ₹26,000, a more than fourfold increase from the average ₹6,000 in the past year, according to RateGain Travel Technologies’ Adara division data. ADR includes room rates, food and beverage, and other services availed of by customers, but it only counts the occupied rooms in a hotel, not the empty ones.

NEW DELHI : The ministry of petroleum and natural gas has raised the price of natural gas for September to $8.60 per mmBtu (metric million British thermal unit), up from $7.85 in August. However, the price for gas from ONGC’s and OIL’s nomination gas fields is unchanged capped at $6.5 per mmBtu . “The price of domestic natural gas for the 1 -30 September period is notified at $8.60 per mmBtu on gross calorific value basis," according to the notification dated 31 August.

The entire Bolshoi Ussursky Island in Russia's Amur region has been displayed as Chinese territory in the new map and this could be a cause of tensions between Moscow and Beijing. The island is situated at the confluence of Amur and Ussuri rivers and located close to the Russian city of Khabarovsk making it strategically important, according to experts on Sino-Russian ties. While Russia ceded part of the island to China in 2004 under the border pact, China has a centuries-old grievance from the 19th century when it was forced to cede the territory to Tsarist Russia under two treaties of 1858 and 1860. But the cracks appearing in the Sino-Russian ties are not new.

Ukraine conflict and the contentious matter should be removed from the draft of the leaders' communique to pave the way for its release at the bloc's summit next week, Russian Ambassador Denis Alipov said on Friday. The envoy said Russia has been «very openly» supporting India's priorities under its G20 presidency and hoped that the summit will be a «huge success» for India and the whole world. There have been sharp differences between the Russia-China combite and the Western countries over the text to describe the Ukraine crisis. «Obviously, the situation is complicated.

Executives with one of the largest wind and solar energy development companies in the world are gathering with federal officials on the dusty plains of New Mexico to mark the groundbreaking of what will be the largest renewable energy infrastructure pr...

By Ankika Biswas and Shashwat Chauhan

More than 85,000 highchairs sold at major retailers across North America are being recalled over a fall hazard after a handful of injuries were reported, federal regulators say

By Lucy Raitano and Danilo Masoni

By Farah Master, Joyce Zhou and David Kirton

Canada’s Environment and Climate Change Minister, Steve Guilbeault, couldn’t resist taking a swipe at Suncor’s CEO, Rich Kruger — not even as the minister visits China, the biggest GHG emitter of all. Tuesday, he criticized Kruger’s recent statement that Suncor has been focusing too much on the energy transition and not enough on its core business. Using this as a pretext, Guilbeault made clear that his government’s made-up cap on oil and gas emissions — an arbitrary 42 per cent reduction by 2030 — is even more necessary to force companies to comply than he had been arguing. Let’s see how he does persuading his Chinese hosts to stop building two new coal plants every week.

INDIA bloc leaders on Friday vowed to finalise seat sharing in an accommodative spirit, with Congress leader Rahul Gandhi claiming the alliance represents 60 per cent of the country's population and will easily defeat the BJP if it fights the Lok Sabha polls unitedly. Amid speculation of early polls and the government setting up a panel to explore the possibility of 'one nation, one election', leaders from 28 Opposition parties took crucial decisions at their conclave here, including setting up a 14-member coordination committee which will be the top decision-making body of the alliance and start work on seat sharing. Addressing a joint press conference after the two-day brainstorming here on crystallising the alliance's structure, Congress President Mallikarjun Kharge alleged the BJP-led government was stealing from the poor to help big industrialists.

A People’s Court in China has stated that under the existing legal framework, digital assets have economic value and are still legal property backed by law.