China Financial News

By Harry Robertson and Scott Murdoch

Nifty to increase further to 20,500 by December 2023 after its US economics team recently modified their perspective from one of a 'mild recession' to one of 'no recession' in the US. In its analysis, the brokerage claimed that if this outcome occurs, it will allay the market's main worry and enable sustained valuation growth.

international trade of computers. China and Vietnam both have much greater comparative advantage—and, India’s advantage is greater in mobile handsets than computers.

Congress on Tuesday hit out at Union Minister Kiren Rijiju over his remark that the prime minister has directed ministers to visit the Northeast every 15 days, challenging him to furnish details of the visits of Union ministers to Manipur in the last 97 days. Intervening in the debate on the no-confidence motion against the government, Rijiju said, «When our government was formed, in the first cabinet meeting, (Prime Minister Narendra) Modi ji made a group and said that every 15 days, five cabinet ministers and seven ministers of state must tour the Northeast. It is still going on, all the ministers sitting here have toured the northeast.» «PM Modi has also given directives to officials to visit the Northeast and meet people.

Belt and Road initiative to build global trade infrastructure, the Journal reported. Write to Chun Han Wong at [email protected]

midcap and smallcap indices scored gains on Tuesday, August 8, amid weak global cues as China's weak economic data weighed on sentiment. Sensex opened 95 points higher at 66,048.81 against the previous close of 65,953.48 but failed to hold altitude, falling about 201 points to hit the intraday low of 65,752.63. The index finally closed 107 points, or 0.16 per cent, lower at 65,846.50 while the Nifty ended 26 points, or 0.13 per cent, lower at 19,570.85, both snapping their two-day winning run.

Bonds gained along with the dollar on Tuesday, while stocks fell as fresh concerns around China’s economic recovery and the state of US banks sent investors scurrying for havens.

opposition alliance INDIA have given a privilege notice against leader of the house in Rajya Sabha Piyush Goyal over his certain remarks against some opposition leaders. Among the parties whose leaders gave the notice are the Congress, TMC, AAP, RJD, DMK, RJD, JDU, NCP and the Left parties. Sources said leaders of INDIA parties gave the notice to the Rajya Sabha chairman complaining against Goyal's certain remarks made while he was speaking on the issue of media portal 'NewsClick' receiving funding from China-linked firms allegedly to spread Chinese propaganda. Goyal questioned the relationship between the opposition parties and the news portal 'NewsClick', which has been accused in a New York Times report of receiving funding from China-linked firms. «Today at 1300 hrs, the floor leaders of INDIA parties in the Rajya Sabha submitted a privilege motion against Leader of the House Piyush Goyal for addressing the Opposition as all of them 'traitors',» Congress MP Jairam Ramesh said on Twitter. «Nothing less than an apology from him on the floor of the House, when it is in order, will do,» the Congress leader, who is a signatory to the privilege notice, said.

In global market, the weak trend continued with spot gold edging lower to $1,934.02 per ounce. Investors remained cautious ahead of Thursday's US inflation readings. The US dollar climbed higher after weaker Chinese trade data, putting pressure on the yellow metal.

Additionally, the government emphasized that overseas players and domestic suppliers possess the capacity to manufacture these devices in India, which could be put to use. Companies will have the freedom to import as much as they require from multiple locations, without any caps on quantities.

The Nifty 50 index settled 0.13% lower at 19,571, while the S&P BSE Sensex declined 107 points or 0.16% to 65,846. From the Sensex pack, Power Grid, M&M, JSW Steel, Sun Pharma, Nestle and Relaince Industries closed in the red, whereas Tech Mahindra, Wipro, Bajaj Finance, SBI and Bajaj Finserv ended higher.Hero MotoCorp shares closed 4% higher after the 2-wheeler maker firm received more than 25,000 bookings for Harley-Davidson X440. Drug maker Gland Pharma closed with a 20% upper circuit after reporting a 41% rise in June-quarter revenue, aided by the acquisition of French firm Cenexi.

Binance Labs, the venture capital arm of the largest cryptocurrency exchange, Binance, remains an active investor in the crypto space despite its parent company facing regulatory challenges and potential fraud charges. 

Opposition as all of them "traitors". Nothing less than an apology from him on the floor of the House, when it is in order, will do," Jairam Ramesh said in a report. In another tweet Jairam Ramesh explained why the INDIA parties walked out of the Rajya Sabha on Tuesday.

Nifty ended in the red while the second-rung midcap and smallcap indices eked out gains on Tuesday amid weak global cues as China's weak economic data weighed on sentiment. "China's imports contracted by 12.4 per cent in July, far more than forecasts for a 5 per cent drop.

₹887 crore, excluding its recently acquired Cenexi operations. Notably, a rejuvenating US market has greatly benefited the company with a 23% sequential growth in Q1, albeit a decline on an annual basis, driven primarily by new product launches and its existing portfolio. Given favourable market conditions in the US, the company has planned for multiple launches in the coming quarters, including 60 launches and 23-24 product relaunches in FY24, with several applications for complex injectable approvals in the pipeline.

Japanese technology company SoftBank Group continued to rack up losses for the fiscal first quarter as technology investments soured amid a market downturn

market capitalization of the NSE500. Adjusted profit after tax (APAT) has increased 35% year over year (YoY). While earnings before interest, taxes, depreciation, and amortization (EBIDTA), ex-Financials, increased 30% on year, Profit before tax (PBT) increased by 38% year over year.

BRICS startup forum this year to facilitate collaboration and share best practices among investors, incubators and aspiring entrepreneurs, commerce and industry minister Piyush Goyal has said. BRICS is a grouping of Brazil, Russia, India, China and South Africa.

Analysts are slashing their forecasts for iron ore prices – Australia’s most lucrative export – as it becomes increasingly clear that Beijing is struggling to revitalise its frail economy.

New Delhi: India is all set to initiate the BRICS Startup Forum in 2023 with the objective of promoting collaboration and knowledge sharing among startups, investors, incubators, and emerging entrepreneurs, said commerce and industry minister Piyush Goyal, during the virtual “7th BRICS Industry Ministers’ meeting," hosted by South Africa as the Chair. The minister while highlighting the transformation that has taken place in India, also commented on the expanding Startup India initiative that has led to the creation of nearly 100,000 startups in the country.

The chief financial officer of Queensland coal miner Coronado, Gerhard Ziems, says coking coal prices are close to a floor amid “dire” global steel markets deflated by China’s weakening trade pulse.