China Financial News

Haier in Pune, Mumbai, and Noida, and the premises of its promoters. The searches are in connection with underreporting of income and royalty payment, officials said. The email and text query ET sent to Haier India remained unanswered till press time.

Social media platform X — formerly known as Twitter — may soon advance plans to add financial services to its users, hoping to become the American equivalent of the Chinese super-app WeChat.

Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Snap, Southwest Airlines, Mersana, and Perficient.

Saudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day for another month to include September, five analysts said, to provide additional support for the oil market. In June, OPEC+ agreed on a broad deal to limit oil supply into 2024 and Saudi Arabia pledged an additional voluntary cut for July. On July 3, Saudi Arabia said it would extend the cut for another month to include August, adding that it could be extended further. Oil prices have found some support from evidence of tightening supplies and economic stimulus in China. Brent crude was trading at over $84 a barrel on Friday, after hitting the highest level since April on Thursday. «Given the tentative recovery, my guess is they continue the cut for one more month and then phase it out over three months — similar to what Saudi did in 2021,» said Gary Ross, founder of Black Gold Investors and a veteran OPEC watcher. The Saudi Energy Ministry did not respond to a request for comment.

ASML Holdings (AS:ASML) was cut to Market-Perform at Bernstein on Friday, with analysts lowering the price target to $785 from $810 per share.

By Natalie Grover

G20 nations failed to agree on peaking global emissions by 2025 and other crucial issues to address the global climate crisis at their meeting in India on Friday, France's representative said. No breakthrough was possible on several key points ahead of this year's COP28 climate talks, with negotiations also failing to reach a consensus on drastically scaling up renewable energy use. «I am very disappointed,» France's ecological transition minister Christophe Bechu told AFP after the meeting.

(Reuters) — Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world's second-largest economy from a pandemic slowdown.

In total, retail investors added €2.1bn to Amundi’s AUM, with €1.9bn of this in treasury products.

According to an exclusive report from Reuters on Friday, BYD (SZ:002594), China's top automaker in terms of sales, has communicated to its joint venture partner, Megha Engineering and Infrastructures, that they will be putting on hold their intentions to invest $1 billion in constructing electric cars in India. The decision came about after their investment proposal underwent careful examination by authorities in New Delhi, as revealed by two individuals familiar with the matter.

By Ananya Mariam Rajesh and Kailyn Rhone

Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Meta Platforms, Boeing, Block, and Crocs.

China has demanded that the United States invite Hong Kong’s leader to an economic conference following a news report that Chief Executive John Lee would be barred due to his role in crushing the city’s pro-democracy movement

Bolivia is using the yuan to pay for imports and exports, becoming the latest country in South America to regularly use the Chinese currency in a small but growing challenge to the hegemony of the U.S. dollar

A growing number of young Chinese are moving overseas to escape their homeland's ultra-competitive work culture, limited opportunities and family pressures

The German economy is still failing to grow

India on Thursday described as «unacceptable» China issuing stapled visas to a few sportspersons from Arunachal Pradesh and asserted that it reserves the right to «suitably respond» to such actions.External Affairs Ministry Spokesperson Arindam Bagchi said India has lodged its «strong protest» with the Chinese side on the matter and there should be no discrimination on the basis of domicile or ethnicity in the visa regime for Indian citizens. Following the incident, India withdrew its entire Wushu team from the World University Games in China as 'stapled visas' were given to three Arunachal players.What is a stapled visa that China chooses to give to Indian nationals from Arunachal Pradesh and Jammu and Kashmir? A ‘stapled visa’ is an unstamped piece of paper that is simply attached by a pin to a page of the passport.

US merger and acquisition dollar volume is down 31% compared to the year-ago level, to $667.6bn so far in 2023, the London Stock Exchange Group said late 27 July.

Investing.com — ExxonMobil (NYSE:XOM) has reported lower-than-anticipated profit in the second quarter, as the largest U.S. oil major was hit by a decline in natural gas prices.

By Huw Jones

Shri Techtex IPO: GMP, subscription status on day 3, and other key details here Earlier this month, Shanghai Securities News reported that the CSRC is working to formulate an action plan for the reform at the investment end of the capital market, to achieve balanced development between investment and financing and direct more medium- to long-term capital to equity investment. The normalization has helped raise Chinese companies' interest in overseas IPOs.19 Chinese companies debuted on the US stock market in the first half of this year, netting $600 million in all.