China Financial News

04.08 / 02:41

COST UPS Lowe's show Weekly Gold faces weekly loss on surging bond yields as US payrolls loom

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched U.S. jobs report after a string of solid economic data this week drove Treasury yields to nine-month highs. FUNDAMENTALS * Spot gold was up 0.1% at $1,936.15 per ounce by 0138 GMT, while U.S.

04.08 / 02:41

UPS Provident Fitch MSCI Nikkei show Asian shares rise as investor focus turns to US payrolls

Asian shares rose on Friday, while the dollar pulled back from a one-month peak as investors took stock of the slew of U.S. economic data that showed a resilient labour market ahead of a crucial non-farm payrolls report due later in the day. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.46% higher after dropping 2.3% on Thursday.

04.08 / 00:59

NIFTY SENSEX Fitch Dalal Street indices wobble with global weakness

Fitch's downgrade of US long-term credit rating. BSE Sensex fell 542 points, or 0.82%, to at 65,240. NSE's Nifty declined 144 points, or 0.74%, to end at 19,381.

04.08 / 00:39

COST UPS Strategy Albemarle stage rock Lithium giant distances itself from billionaire’s attack on China

Albemarle has distanced itself from Mineral Resources boss Chris Ellison and his attack on China after he pulled out of a billion dollar-deal lithium processing deal with the global battery chemical giant on the Chinese mainland last month.

03.08 / 23:05

Lowe's Clorox DAX Qualcomm show US stocks fall Global markets update: US stocks fall marginally on surge in yields

jobless benefits increased slightly last week, while layoffs dropped to an 11-month low in July, labor department report showed. Jobs report for July is due on Friday. A separate report showed that the US services sector slowed in July.

03.08 / 23:05

UPS MAIL Reuters Apple show voice Drop Q3 Apple Q3 results: Profit up 2.3%, iPhone sales drop 2.4%

technology companies. “We've been doing research across a wide range of AI technologies, including generative AI, for years. We're going to continue investing and innovating and responsibly advancing our products with these technologies to help enrich people's lives," Cook said.

03.08 / 21:13

Aviat Airlines Enterprise Going global good for IndiGo as home turf to get crowded

InterGlobe Aviation's decision to expand its presence on international routes is timely considering the rising competition in the domestic market where it already controls over 60% share. Given the factors such as network expansion, capacity deployment, and a possible benefit of tax loss, analysts have raised the earnings per share (EPS) forecast for FY25 by as much as 38% (Emkay). The stock fell by 4.7% on Thursday on the BSE.

03.08 / 19:15

UPS Provident Waves Progressive Action Strategy NOT ‘China-plus: India not a natural choice’

Edited excerpts: From a markets point of view, liquidity is back in some form. Whether from foreign investors’ point of view, FOMO or whatever it maybe, the fact is that our markets outperformed our neighbours. The broad investment theme is that companies that are actually run well are finding takers.

03.08 / 19:09

BLOCK Binance Software WSJ country Inside cryptocurrency trading China Emerges as Binance's Key Market Despite Cryptocurrency Trading Ban

China has emerged as the biggest market for major crypto exchange Binance, despite a ban on crypto trading in the country.

03.08 / 18:45

UPS Digital Citizens Manufacturing country electronic Make in India: Curbs on computer imports

₹17,000 crore production-linked incentive (PLI) scheme for IT hardware to attract makers of laptops, tablets, and other hardware to India. India has also taken several other steps to curb imports from China by introducing quality control orders (QCO). Electronics imports from China was at $27.6 billion in FY23.

03.08 / 18:45

UPS Apple Apple Sales Slump Set to Continue, but Many Investors Remain Bullish

Apple is expected to announce its third consecutive quarterly decline in revenue on Thursday after markets close, the company’s most prolonged sales slump since 2016, although many investors remain confident the struggles will be temporary. That kind of revenue dip hasn’t happened at Apple in about seven years, when it ended its fiscal 2016 with sales down 7.7% annually, mostly due to declining iPhone sales. The same phenomenon is behind Apple’s slump in 2023, although investors and analysts now see a different company.

03.08 / 18:17

COST UPS Citi country PUMP Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pump

Saudi Arabia says it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices

03.08 / 18:01

India maul China 7-2 in Asian Champions Trophy

India started their Asian Champions Trophy campaign on a resounding note, thrashing China 7-2 in their opening match of the tournament here on Thursday. Skipper Harmanpreet Singh (5th, 8th minutes) and Varun Kumar (19th, 30th) converted two penalty corners each for India, while Sukhjeet Singh (15th), Akashdeep Singh (16th) and Mandeep Singh (40th) were the other goal scorers for India.

03.08 / 17:39

FIVE country PM Modi to attend BRICS Summit in Johannesburg

BRICS Summit, the Ministry of External Affairs (MEA) said. "President Ramaphosa invited the prime minister for the BRICS summit being hosted by South Africa on August 22-24, and briefed him on the preparations for the same," the Ministry of External Affairs (MEA) said atfter PM Modi's talks with Ramaphosa. "The prime minister accepted the invitation and conveyed that he looked forward to his visit to Johannesburg to participate in the summit," the MEA said.

03.08 / 17:21

Platform Mobile Tencent ByteDance social Time China proposes to limit children's smartphone time to a maximum of 2 hours a day

China’s internet watchdog has laid out regulations to curb the amount of time children spend on their smartphones, in the latest blow to firms such as Tencent and ByteDance, which run social media platforms and online games

03.08 / 17:21

Provident Reuters Fighting country voice Support Brazil's Lula voices support for more countries joining BRICS group

Brazilian President Luiz Inácio Lula da Silva says he supports more countries joining the BRICS group of large developing nations, which currently includes Brazil, Russia, India, China and South Africa

03.08 / 17:21

Citi country boost Saudi Arabia extends cut of 1 million barrels of oil a day through September, trying to boost prices

Saudi Arabia says it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices

03.08 / 16:51

FIVE country reports expansion India dismisses reports that it opposes BRICS expansion

BRICS summit in Johannesburg set to discuss admitting new members, India on Thursday dismissed as «baseless» reports that it is opposed to the expansion of the grouping. It is learnt that New Delhi is yet to take a final decision on Prime Minister Narendra Modi's in-person attendance in the summit of the five-nation grouping from August 22 to 24. The summit is set to extensively deliberate on expansion of BRICS (Brazil, Russia, India, China and South Africa).

03.08 / 16:51

UPS Citi BLOCK Waters Extreme Continental What caused the heaviest rainfall in 140 years in Beijing and northern China?

The storms, which have killed at least 20 people and led to the displacement of hundreds of thousands of residents, were the worst to hit China in over a decade, with Beijing experiencing its heaviest rainfall in 140 years. HOW SEVERE WAS THE RAINFALL? The amount of rainfall since Saturday has breached many local meteorological records. A reservoir in Beijing's Changping district logged a precipitation reading of 744.8mm (29.3 inches) between Saturday and Wednesday, the most in the city in over 140 years and far exceeding the previous record of 609mm set in 1891.

03.08 / 15:23

Target Manufacturing Support Financial China's central bank to guide more financial resources to support private sector

BEIJING (Reuters) — China's central bank governor pledged on Thursday to guide more financial resources towards the private economy, suggesting refreshed urgency from Beijing to bolster the confidence among private firms as economic momentum weakens.

03.08 / 14:33

Waters Manufacturing performer country Consumption India’s stainless steel consumption grew by 10% in FY23

New Delhi: Stainless steel consumption in India grew by nearly 10% during the past fiscal year, reaching 4 million tonne, as per data unveiled by the Indian Stainless Steel Development Association (ISSDA). Data released by the industry body indicates that India's per capita stainless steel consumption advanced from 2.5 kg to 2.8 kg, driven by heightened demand for the eco-friendly metal in sectors such as Railways, process industries, and ABC (architecture, building and construction).

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