China Financial News

US Federal Reserve meeting outcome. Oil prices have rallied for four weeks, buoyed by signs of tighter supplies, largely linked to output cuts by Saudi Arabia and Russia, as well as Chinese authorities' pledges to shore up the world's second-biggest economy. Brent crude futures were down 32 cents, or 0.4 per cent, at $83.32 a barrel, while US West Texas Intermediate (WTI) crude was at $79.32, down 31 cents.

NEW DELHI : Six major Asian economies, China, Hong Kong, Japan, South Korea, Singapore and Taiwan, which comprise one-fifth of the world’s population, will experience rapid decline in their working-age populations that is expected to drop about 10 percentage points by 2050 to 59% of their total populations on average, leading to major impact on global economic growth, Moody’s Investors Services said in a report on Wednesday. The drag on growth and public finances for these economies will be significant, barring gains in productivity, workforce participation or quality of available labour, said the report titled “Aging in key economies will drag on growth and finances, with global credit implications".

Pakistan and work towards broader people-to-people contacts given the «cultural commonalities and civilisational linkages» between the two countries. The Parliamentary Standing Committee on External Affairs chaired by BJP leader P P Chaudhary, in its report on 'India's Neighbourhood First Policy' presented to the Lok Sabha on Tuesday, observed that the policy was dynamic and that it adjusts to the country's renewed interests in the region while evolving according to regional circumstances.

Coca-Cola Company on Thursday said it has registered growth in the beverage market in India despite having a challenging summer with rains, its Chairman and CEO James Quincey said. In the June quarter, China was affected due to specific local conditions and recovery was slowed in the second quarter. Consumer confidence is below the pre-pandemic level, he added.

China this month showed its post-pandemic surge was quickly fading, raising expectations that the government needs to bring out more stimulus measures to drive activity and bolster shaky consumer confidence. British consumer goods giant Unilever said on Tuesday that China's declining property market and exports had sent its consumer sentiment to a historic low, having earlier this year forecast a Chinese "consumption boom".

HONG KONG—China’s former foreign minister, who was replaced on Tuesday after he went missing from public view for more than a month, is now disappearing from parts of the Foreign Ministry’s website—an erasure that is intensifying intrigue around what happened to him. Authorities didn’t provide a reason for their decision to removeQin Gang from his post, which has now been filled—at least temporarily—by his predecessor Wang Yi. The Foreign Ministry previously cited unspecified health reasons for Qin’s absence.

HEFEI, China—More than one in five young people in China are jobless. The government casts much of the blame on the job seekers themselves, insisting that their expectations have gotten too high. Young people need to stiffen their spines and embrace hardship, says leader Xi Jinping, who labored in the countryside in China’s Cultural Revolution.

By Jack Queen

The controversial crypto project Worldcoin was launched for the public on July 24, making way for customers to scan their iris at designated locations in 20 countries and receive 25 Worlcoins (WLD) the native token of the project. 

Chinese Foreign Minister Qin Gang was ousted earlier this week after merely 207 days at the job. His predecessor Wang Yi was reappointed to the top post on Tuesday and officials insist that they are releasing information ‘normally’ about the situation. But as speculation about Qin's fate and whereabouts continue, all his activities as foreign minister appear to have been erased from official records.

₹738 crore during the first quarter of the current financial year, a 45% year-on-year (YoY) rise on the back of growth in the domestic market. The company further reported 25% YoY growth in net revenue from ₹8,119 crore in the same period last fiscal year to ₹10,184 crore in the current fiscal year. The company’s standalone sales volume for the quarter stood at 548,613 metric tonnes (MT), up 54% YoY, buoyed by macroeconomic factors, notwithstanding the global slump in sales and market volatility.

WASHINGTON (Reuters) — U.S. Treasury Undersecretary Jay Shambaugh said on Wednesday the Biden administration will not hesitate to take targeted actions against China to secure the national security interests of the U.S. and its allies and to protect human rights, but added that the two countries must cooperate on global challenges.

The International Monetary Fund (IMF) has once aga... moreThe International Monetary Fund (IMF) has once again increased growth outlook for India to 6.1%.

Elon Musk, the owner of Twitter, has announced a m... moreElon Musk, the owner of Twitter, has announced a major rebranding of the platform, bidding farewell to the iconic blue bird logo and renaming it x.

Global equities struggled on Wednesday as investors braced for more policy-tightening from the Federal Reserve, even as results from some of the biggest European and American companies hinted at a softening economy. 

China's Wuhan suffered a cyberattack from overseas hackers, local authorities said on Wednesday. China's state media, including Global Times and a social media account run by CCTV, claimed the attack was «government-backed» and came from the United States.

Thermo Fisher Scientific (NYSE:TMO) dropped over 6% in pre-market Wednesday after the supplier of analytical instruments and medical equipment reported weaker-than-expected Q2 results and lowered its full-year outlook.

Rajeev Chandrasekhar, minister of state for electronics and information technology, told FT that despite India's crackdown on Chinese manufacturers and mobile applications, New Delhi is " Open to investment from China". Chandrasekar told The Financial Times that, " We are open to doing business with any company anywhere as long as they are investing and conducting their business lawfully and are in compliance with the Indian laws".

Global stock markets are lower after Wall Street hit a 15-month high ahead of what traders hope will be the Federal Reserve’s final increase in this interest rate cycle

Nissan and Renault have redefined their French-Japanese auto alliance to establish more equal cross-shareholdings

Lawmakers intent on reducing China’s influence on the U.S. economy are seeking to push the Treasury Department to reduce the scale of Beijing’s influence at the Inter-American Development Bank, which supports economic and social development in Latin Am...