China Financial News

Russian President Vladimir Putin has taken multiple shots at the West on the opening day of an economic summit in South Africa

The overwhelming, deafening, cataclysmic roar erupted and hurtled the Saturn V rocket — as tall as a 36-storey building — into the sky and then beyond.

Montana is asking a federal judge to allow its law banning new downloads of TikTok to take effect while a legal challenge filed by the company and five content creators moves through the courts

Google, Facebook, TikTok and other Big Tech companies operating in Europe are facing one of the most far-reaching efforts to clean up what people encounter online

Stocks that traded heavily or had substantial price changes Tuesday: Lowe’s, Fabrinet rise; Macy’s, Canadian Solar fall

U.S. Secretary of Commerce Gina Raimondo will meet with Chinese officials and American business leaders in Beijing and Shanghai next week amid efforts to stabilize relations that have sunk to historic lows

Russian President Vladimir Putin and Chinese President Xi Jinping are both absent as leaders from the BRICS group of emerging economies open a three-day summit in South Africa

Russian President Vladimir Putin will be notably absent when Chinese President Xi Jinping and other leaders from the BRICS group of emerging economies begin a three-day summit in South Africa on Tuesday

Investing.com — Oil prices slid for a second day in a row, with U.S. crude settling beneath the key $80 per barrel support, on worries over the economic stalling in China and the potential for more rate hikes by the Federal Reserve.

Narendra Modi on Tuesday said India will soon become a USD 5 trillion economy and is poised to become the growth engine of the world in the coming years. Speaking at the BRICS Business Forum Leaders' Dialogue, Modi highlighted that «mission-mode» reforms has improved the ease of doing business in India and invited businesses to be part of the country's development journey. While mentioning about the strides made by India on the digital payments front, Modi said there are many possibilities for using the Unified Payments Interface (UPI) for BRICS. He also said that Brazil, Russia, India, China and South Africa (BRICS) together can contribute significantly to global welfare, particularly of the Global South. The prime minister, who is in South Africa to participate in the first in-person summit of BRICS nations since 2019, told the gathering that despite the turmoil in the global economy, India today is the fastest growing major economy in the world. «Soon, India will become a USD 5 trillion economy.

NCR) during the G20 summit on September 9-10 for seamless movement of 30 leaders, including invitees and their entourages, according to people aware of the matter. The movement of residents of Delhi-NCR could be restricted for three days, from September 8-10, they said, as most of the invitees will arrive in Delhi on September 8 and depart either on September 10 evening or September 11, the people said. While September 9-10 is a weekend, September 8 might be declared a holiday in New Delhi owing to the security arrangements for the event, according to those in the know. Special arrangements are being made for movement of the media covering the G20 summit, they said. More than 20 hotels in the capital have been booked for the visiting leaders — Saudi Arabia, US and China are expected to send big delegations to the event.

wheat stocks held with the Food Corporation of India (FCI) is at its lowest in the month of August since 2017. However, the government has set a target of procuring 521 lakh metric tonnes of rice for the kharif marketing season 2023-24 against last year's 495 lakh metric tonnes. While the low stocks are worrying from inflation point of view, experts said it is not a concern from the food security angle. The total foodgrain stocks with the FCI on August 22 are 523.35 lakh metric tonnes, out of which 242.96 lakh metric tonnes are rice and 280.39 lakh metric tonnes is wheat. «While this is not worrying from a food security point of view since the stocks are still higher than the required norms, there is an overall hit to production this year which will keep the pressure on prices though government intervention by increasing domestic supplies can soften the price impact to some extent» said Dipti Deshpande, principal economist, Crisil, adding that India has historically stored more than required norms and so the current levels are not worrying. With acreage under rice increasing this kharif season, the country will be fine on the rice side, said Rahul Bajoria, MD & Head of EM Asia (ex-China) Economics, Barclays adding, «wheat could be a little bit of a worry.» Sowing of wheat happens in the rabi season which commences in October. The Centre's procurement of wheat under its minimum support price (MSP) program, which is crucial for keeping its wholesale rates under control, stood at around 26.14 million tonnes much below the target of 34 million tonnes. This has led the prices to stay firm, even during the harvest season, when they should be on the lower side.

Air India Express has chalked out an aggressive expansion drive deploying 50 Boeing 737 Max planes by the end of 2024. The airline is aiming to corner a firm second place, behind market leader IndiGo, in the cut-throat Indian domestic market, people aware of the development said. Air India Express, which currently has 25 aircraft, is in the process of being merged with AirAsia India, which has 28 Airbus A320neo planes.

₹5,279 crore. The Colgate brand has a significant share in India’s toothpaste segment. However, its portfolio under the Palmolive brand, offering products such as body wash and hand wash, is relatively small.

BRICS summit in Johannesburg, South Africa, that started yesterday will discuss many things. It will, however, focus on membership expansion from five members — Brazil, Russia, India, China, South Africa — to a much larger group. South Africa has invited 67 countries to the summit of which 53 are African.

China's leader Xi Jinping told the BRICS bloc of nations on Tuesday that China's economy was resilient and that the fundamentals for its long-term growth remained unchanged. Xi, who is in South Africa for a summit of the BRICS countries Brazil, Russia, India, China and South Africa, made the remarks in a prepared statement read by Chinese Commerce Minister Wang Wentao at a business forum.

Steel Authority of India (SAIL), BHEL, Escorts Kubota, Metropolis Healthcare Ltd, Chambal Fertilizers and Chemicals, Gujarat Narmada Valley Fertilizers And Chemicals Limited, Delta Corp, Hindustan Copper, India Cements, Indiabulls Housing Finance, Punjab National Bank, Manappuram Finance, and Zee Entertainment Enterprises Ltd are the 12 stocks that are a part of the F&O ban list by the stock exchange for Wednesday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

By Andrea Shalal and David Ljunggren

Joe Biden signed the Inflation Reduction Act into law. The new legislation goes beyond the goal of price control stated in its name. The Inflation Reduction Act works in tandem with other new legislative proposals such as the American Rescue Plan and the CHIPS and Science Act to pivot the US towards active government intervention in industry, through direct investments, tax credits, subsidies and some import tariffs.

Check out the companies making headlines in midday trading.

After more than a month on the low, Tesla (NASDAQ:TSLA) appears to be finally staging a comeback. Yesterday, the Electric Vehicle (EV) giant's stock surged by an impressive 7%, the first noteworthy rebound rise following the dip prompted by the company's worse-than-expected earnings report on July 19th.