China Financial News

Brent oil prices in July were up 14 per cent on the previous month, the biggest monthly increase since January 2022. Prices in August are trending about 3 per cent lower on the previous month as China demand worries weigh. China has also been drawing on record inventories amassed earlier this year as higher oil prices drive refiners in the world's biggest oil importer to scale back purchases, according to analysts quoted in the report.

Alibaba has launched new artificial intelligence (AI) models that can understand images and perform more complex conversations. The two new models, called Qwen-VL and Qwen-VL-Chat, will be open source for researchers, academics and companies worldwide, reports CNBC. Alibaba said that Qwen-VL can respond to open-ended queries related to different images and generate picture captions. Qwen-VL-Chat caters to more «complex interaction,» according to Alibaba, including writing stories and creating images based on photos that a user inputs. Alibaba's AI models are built upon the company's large language model called Tongyi Qianwen. Meanwhile, South Korean company Naver has also launched its own large language model HyperClovaX along with generative AI-powered search tool Cue and a chat app called Clova X. HyperCLOVA X is a backbone model of Naver's AI technology based on supercomputing and data-analysing capabilities and operational experiences from its all-in-one online platform, ranging from Korea's largest search engine to cloud services, email, shopping and other internet products. CLOVA X is a large language model-based AI chatbot and CUE: is a generative AI search service, both of which are powered by HyperCLOVA X. Naver said CLOVA X, which will go on beta testing later this day, is a Korean version of ChatGPT led by Naver's deep understanding of Korean language and culture. It can give the most appropriate responses to various user demands based on its conversational, versatile AI able to create stories, summarise texts, and encode languages. CUE:, which will be launched next month, is a new interactive AI chatbot developed specifically for online search, reports Yonhap news agency.

petroleum products made from Russian crude oil in India finding way to the European market, saying it defies the purpose of the sanctions against Moscow that are aimed at reducing its ability to finance the war with Ukraine. The European Union's Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, said oil products processed from Russian crude oil are arriving at the European market in «large quantities» and the grouping is looking at ways to deal with it. In an interaction with a small group of journalists, the EU Vice President, currently on a visit to India, accused Russia of using its energy supplies, and food as «tools» of «war and manipulation» to continue its attack on Ukraine. On the issue of food, Dombrovskis cited Russia withdrawing from the Black Sea grain initiative and blocking Ukraine's export of food grain to the world market. Since Russia's invasion of Ukraine in February last year, the Western powers have imposed a series of sanctions on Moscow including a price cap on Russian oil by G7-plus nations, in order to reduce its ability to finance the war on Ukraine.

China issue. The massive scale of China's problems will necessitate a fiscal impulse, as the monetary path has limitations,” says market expert Ajay Bagga. Edited excerpts:ET Now: This week is crucial with the Jackson Hole meeting and Fed Chair's comments. What key takeaways are you looking for, and which subjects have caught your attention? Ajay Bagga: Last time, the Fed Chair's speech was very hawkish, using the term «economic pain» repeatedly.

Read more Jio Financial Services stock will now be removed from the all the S&P BSE indices, including Sensex, Sensex 50, BSE 100, BSE 500 among others, before opening of trading on September 1. Read more The Securities and Exchange Board of India (Sebi) on Friday informed the Supreme Court that it has concluded 22 out of 24 separate investigations into the Adani group, analysed data on nearly 350 million stock trades, and scrutinized dealings in seven Adani group firms involving tens of thousands of documents.

PTI reported citing a senior party leader that Rahul Gandhi has chosen to reside in a houseboat situated on Nigeen Lake, while the family is anticipated to shift to a hotel in the Rainawari locality on Saturday. Notably, this hotel holds sentimental value for the Gandhi family due to past associations. Following a stay spanning two nights, there are plans for them to explore Gulmarg.

Japan's fisheries agency said on Saturday fish tested in waters around the wrecked Fukushima nuclear plant did not contain detectable levels of the radioactive isotope tritium, Kyodo news service reported. Nets were set up on Thursday when plant operator Tokyo Electric Power Company (Tepco) began releasing treated radioactive water into the Pacific, angering fishermen and many others in Japan, alarming consumers in neighbouring countries and prompting China to ban Japanese aquatic products. The agency plans to announce test results daily.

Sajjan Jindal wants the government to counter American tariffs and Europe’s carbon tax with a similar levy, to level the playing field for companies like his. In an interview in New Delhi, the chairman of JSW Group spoke about the outlook for flagship JSW Steel Ltd. and confirmed a Bloomberg News report about its acquisition plans.On carbon taxes Every region is thinking in terms of their own protection. US has import tariffs on steel.

Pakistan has tried to downplay the snub from the BRICS, saying it has not yet made a formal request to join it after the bloc ignored Islamabad when it announced its major expansion in years. On August 24, The leaders of the BRICS nations decided to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as the new members of the grouping, sealing a long-drawn process. Foreign Office spokesperson Mumtaz Zahra Baloch issued the details of her weekly briefing on Friday night, a day after the bloc of developing countries added new countries. «We will examine the latest developments and make a determination about our future engagement with BRICS,» Baloch said. To a query, if Pakistan was ignored by the bloc, she said Pakistan followed BRICS' developments in its latest summit in South Africa and also noted its openness to inclusive multilateralism. «Pakistan is an ardent supporter of multilateralism and as a member of several multilateral organisations it has always played an important role in global peace and development,» she said. The spokesperson termed Pakistan as an important developing country that has made «important contributions to promote peace, solidarity and cooperation among countries of the South». «We shall continue our efforts at the international fora for fostering the spirit of international cooperation and revitalisation of inclusive multilateralism,» she said. BRICS initially composed of Brazil, Russia, India, China and South Africa has undertaken major expansion taking its members to eleven, making it more representative of the Global South. Reportedly several countries are queuing up to join the group but Pakistan may face a challenge due to the presence of India which enjoys

Economic Times has claimed. The Central government has instructed airlines to curtail frequency by a fourth throughout the G20 Summit scheduled to take place in September in the city. As per the English daily, the order has come due to the parking constraints at the Delhi airport.

Taiwan's defence ministry said Saturday that China sent dozens of aircraft and vessels toward the island, just days after the United States approved $500-million arms sale to Taiwan. The defence ministry said in a statement that 32 aircraft from the People's Liberation Army and nine vessels from the navy were detected in the 24 hours between 6 am Friday and 6 am Saturday. Of these, 20 aircraft either crossed the median line of the Taiwan Strait or breached Taiwan's air defense identification zone. In response, Taiwan tasked its own aircraft, vessels and missile systems to respond to the activities, the defense military said. China sees self-ruled Taiwan as a renegade province to be taken by force if necessary.

Oil prices climbed about 1% on Friday, supported by supply cuts despite weak economic news from Germany, a stronger U.S. dollar and the prospect of more U.S.

Powell at Jackson Hole. U.S. yields stabilised below 14-year highs.

Singapore is ready for a non-Chinese prime minister at any time, presidential candidate Tharman Shanmugaratnam has said ahead of the September 1 election, calling it a marker of the society's progress in the country dominated by Chinese-origin population. Race is a factor in politics everywhere, he said on Friday, citing former US president Barack Obama, who has spoken and written about it. However, Singaporeans today, unlike 40 or 50 years ago, look at all factors and not just race, said 66-year-old Tharman, a Singaporean of Indian origin. «They look at people in totality… Singapore is ready at any time.

Africa as the last continent of hope, Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises and Chair, B20 India Action Council on African Economic Integration said that adopting Africa as a place to do agriculture can be the way forward amid the crisis that the world is going through in food production. “60% of the world's arable and yet uncultivated land is in Africa. Today we all see the crisis that the world is going through and especially with Ukraine getting out of the equation of supplying wheat to African nations and many other poorer countries, prices have sold out.

Narendra Modi on Saturday congratulated the ISRO team for the successful landing of Chandrayaan-3 on the moon. He arrived at the ISRO Telemetry Tracking & Command Network Mission Control Complex today morning.

Taiwan's defence ministry said on Saturday morning that over the past 24 hours it had detected 20 Chinese air force planes entering the island's air defence zone. That included fighter jets and drones that crossed the median line of the Taiwan Strait, previously an unofficial barrier between the two sides but which over the past year Chinese aircraft have routinely crossed.

Taiwan’s vice president and front-runner in upcoming presidential elections has accused China of employing unfair trade practices that could be used to influence the voting

3M has agreed to pay more than $6.5 million to resolve charges that it violated the books and records and internal controls provisions of the Foreign Corrupt Practices Act, the Securities and Exchange Commission said Friday

The director of the British Museum says he's stepping down amid investigations into the theft or disappearance of hundreds of items from its massive collection, including gold jewelry, semi-precious gems and antiquities dating to the 15th century B.C. ...

Global regulatory landscapes are once again proving to be a turning point for crypto companies, demanding constant adaptation to navigate shallow regulatory waters across the world, particularly in the United States.