China Financial News

wholesale prices at the factory level have been falling for 10 months now. This means that there is a slowdown in demand, both domestically as well as internationally. In July, China’s goods exports in US dollar terms fell by 14.5% from July 2022.

(Reuters) — The White House, pressed on Wednesday about recent Chinese growth, said there were issues with the transparency of economic data issued by Beijing.

free trade agreement (FTA). While the geo-political environment is favourable for the deal, dubbed as the mother of all FTAs that India is negotiating, it will be a difficult trick to pull off. The EU is India’s second-largest export market after the US, but the share of the continent in India’s overall goods exports has been declining in the past two decades.

Samsonite, the world's biggest luggage maker, said the Indian travel industry has been insulated from the overall slowdown in discretionary spends. This was helped by consumers vacationing quarterly instead of just once or twice a year post the pandemic.

Stocks that are trading heavily or have substantial price changes Wednesday: Target and Stride rise; Coherent and Tower Semiconductor fall

Intel is terminating a $5.4 billion agreement to acquire Israeli chip manufacturer Tower Semiconductor after China failed to sign off on the deal amid deteriorating US-China relations

The British Museum says a member of its staff has been dismissed after items were found to be missing, stolen or damaged

United States Steel Corp. seems poised to be soon purchased by a competitor, with two bidders revealed in a matter of days and more in the wings

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India may not be a jigri dost with amounts to suspicions of planning to, or likely to, commit a cognisable offence, then, it would be best we stay indoors, or abroad. Two college students from Colaba were arrested this week before being released with a warning by Mumbai Police for — wait for it — using Pakistan's Independence Day on August 14 as their Instagram story status.

Investing.com — Saudi oil production cuts may no longer be the news; not even weak Chinese buying, perhaps. It’s U.S. production that’s demanding attention now, with crude output in the world’s largest economy projected to have reached a new three-year high last week.

Line of Actual Control in the Western Sector. The 19th round of China-India Corps Commander Level Meeting was held at Chushul-Moldo border meeting point on the Indian side from August 13 to 14. A joint press release issued after the two-day talks did not indicate any immediate breakthrough in the disengagement of troops in the remaining friction points.

NEW DELHI : Inward foreign remittances to India grew 26% in the last financial year to $112.5 billion, clocking its highest growth in the last five years amid a rebound in economic recovery after the pandemic, showed latest data from the finance ministry. Inward foreign remittances stood at $89.1 billion in FY22, $80.2 billion in FY21, $83.2 billion in FY20, and $76.4 billion in FY19.

₹6,725 per bbl, having swung between ₹6,696 and ₹6,772 per bbl during the session so far, against a previous close of ₹6,868 per barrel.

Google Doodle is celebrating the ongoing FIFA Women’s World Cup 2023. The doodle was first unveiled on the opening day and has now been displayed again during the quarter-finals on Wednesday. Hosted by Australia and New Zealand, this marks the ninth edition of the Women’s World Cup. The inaugural women’s football championship by FIFA took place in 1991. Before that, in 1988, FIFA organized an Invitation Tournament in China as a test. Encouraged by its success, FIFA moved forward with plans for an official women’s world championship, though it hesitated to label it as the World Cup back then. The US claimed victory in the first Women’s World Cup, triumphing over Norway 2-1 in Guangzhou. England entered the scene in the 1995 Women’s World Cup, facing Nigeria in a knockout match. They secured a 3-2 win. However, their journey was halted by Germany in the quarter-finals, resulting in a 0-3 loss. Germany advanced to the final but was defeated by Norway, marking the first European nation to clinch the Women’s World Cup. In its celebration, Google recognized the significance of the ninth edition of the FIFA Women’s World Cup 2023. It sent best wishes to all participating national teams, saying, “The world is watching with flags in their hands and hope in their hearts!” Commencing on July 20, the FIFA Women’s World Cup 2023 reached the quarter-final stage on August 11. The final is scheduled for August 20. The Lionesses advanced to the semi-finals by overcoming Colombia in the quarter-finals, putting them two matches away from winning the championship. The team has already secured victories against Haiti, Denmark, China, and Nigeria – but the true challenge lies ahead.

Here's how analysts interpret the market pulse: «Initial concerns arose from the unexpected surge in domestic CPI inflation, primarily due to higher food prices. This brought volatility to the Indian market. However, relief came when this inflation surge appeared transitory, leading to a recovery later in the trading session.

Intel Corp scrapped its $5.4 billion deal to buy Israeli contract chipmaker Tower Semiconductor Ltd after their merger agreement expired without regulatory approval from China. US-listed shares of the Israeli company fell about 11% in premarket trading. Intel, which had decided to buy Tower last year, will pay a termination fee of $353 million to the latter, the company said in a statement.

US Federal Reserve and European Central Bank. Moves up or down in borrowing costs among that august group tend to be in increments of a quarter or half-point. The PBoC has elected to startle markets with a fraction of that.

Antfin has transferred its 10.3% stake in One97 Communications to the fintech firm's founder and CEO Vijay Shekhar Sharma, according to a regulatory filing. The deal turns One97 Communications, which operates under Paytm brand name, into a majorly Indian-owned company from being majorly owned by Chinese entities. Antfin will continue to hold the economic rights of the stake that is being transferred to Sharma.

Investing.com — U.S. crude stocks fell almost 6 million barrels last week, losing all that they added the prior week, a government report showed on Wednesday as global oil inventories turned volatile from persistent Saudi attempts to squeeze a market at a crossroads due to the sluggish economy in top importer China.

NEW YORK (Reuters) — Deflationary pressures in China could spill over into global markets, near-term good news for Western central banks as they seek to curb inflation, U.S. asset manager PIMCO said.