China Financial News

«Nifty fell sharply on July 21 after a six-day winning streak, following disappointing results/guidance from IT companies, including Infosys. It fell at the fastest pace in about 18 weeks. At close, Nifty was down 1.17% or 234.2 points at 19745.

China is courting Myanmar, a neighbour critical to India’s Act East Policy with the junta Chief Gen Min Aung Hlaing expected to visit Beijing in September, a visit that will be closely watched in New Delhi. This will be the General’s first trip to Beijing since the February 2021 coup that brought him to power. While China has been pushing various infrastructure projects in Myanmar for access to the Bay of Bengal region, it has so far been hesitant to host the General.

TikTok. On June 29, 2020, around midnight, the infotainment content creator addressed her 7.3 million followers on the Chinese short-videosharing app, just hours before it was banned in India over national security concerns. She remembers the frenzy that followed.

₹2.3 billion for the purchase of new luxury vehicles. According to the notification issued on July 20, the assistant commissioner of each tehsil will be provided with a new double cabin 4x4 Revo-G M/T, additional deputy commissioners (general) of each district will be provided new Yaris ATIV 1.3L while additional commissioners of each division will be provided Corolla 1.6 Altis CVT.

During meetings in Washington, Intel Corp’s Pat Gelsinger, Nvidia Corp’s Jensen Huang and Qualcomm Inc’s Cristiano Amon warned that export controls risk harming US leadership of the industry. The Biden officials listened to the presentations but didn’t make any commitments, said the people, who asked not to be identified because the talks were private. The chip industry is trying to navigate increasing tensions between China and the US.

By Sudarshan Varadhan and Nidhi Verma

Investing.com — The dollar snapped a two-week losing streak Friday ahead of the Federal Reserve's widely expected rate hike next week, but some are divided on whether the rebound has staying power.

SYDNEY (Reuters) -The United States commissioned a warship in Sydney, Australia, on Saturday, the first time a U.S. Navy vessel joined active service at a foreign port, as the two close allies step up their military ties in response to China's expanding regional reach.

INS Kirpan to Vietnam in reflection of growing bilateral strategic and defence partnership amid common concerns over China's increasingly aggressive behaviour in the South China Sea. It is for the first time that India handed over a fully operational corvette to any friendly foreign country, officials said. Navy Chief Admiral R Hari Kumar, currently on an official visit to Vietnam, presided over the ceremony at Vietnamese deep water bay of Cam Ranh where the frontline warship was handed over to Vietnam People's Navy. The Indian Navy said the ship has been handed over to Vietnam People's Navy (VPN) with complete «weapon complement». «Today's handing-over ceremony symbolises the deep-rooted friendship and strategic partnership between India and Vietnam,» Admiral Kumar said in his address at the event. «What makes this occasion even more significant is the fact that this is the first-ever occasion that India is offering a fully-operational Corvette to any friendly foreign country,» he said. The Navy Chief said the transfer of INS Kirpan to the Vietnam People's Navy resonates with India's G20 vision of «Vasudhaiva Kutumbakam — One Earth, One Family, One Future.»

Nykaa have dominated the sector in the recent past, it is increasingly seeing consolidation of brands or bigger conglomerates making an entry. The latest is Radhakishan Damani, billionaire investor and founder of Avenue Supermarts that runs the D-Mart chain.

Australia and the United States rehearsed precision missile strikes during war games on Saturday as Canberra overhauls its military strategy in favour of long-range firepower. A series of live-fire drills were held at the Shoalwater Bay military complex in the northeastern region of Queensland, showcasing the American-made HIMARS missile system recently sold to the Australian Defence Force. More than 30,000 troops will take part in the biennial Talisman Sabre exercises over the next two weeks, including soldiers from Japan, France, Germany, and South Korea.

U.S. Inflation Reduction Act has companies scrambling to recycle electric vehicle batteries in North America, putting the region at the forefront of a global race to undermine China's dominance of the field. The IRA includes a clause that automatically qualifies EV battery materials recycled in the U.S. as American-made for subsidies, regardless of their origin. That is important because it qualifies automakers using U.S.-recycled battery materials for EV production incentives. Reuters interviewed more than a dozen industry officials and experts who say that is kicking off a U.S. factory building boom, encouraging automakers to research more recyclable batteries, and could eventually make it harder for buyers in developing countries to buy old used EVs.

BRICS Urbanisation Forum that was inaugurated in New Delhi in February 2013 will have its first in-person follow-up in the South African city of Durban next week. During the two-day gathering that begins on July 26, the delegates from the five-nation BRICS bloc will discuss some of the key urban developmental issues to understand how globally cities are becoming more resilient towards these challenges.

Also Read: Pakistan govt approves massive hike in power tariff on IMF demand: Report Moreover, another $1 billion safe deposit from China is also due. This means that Pakistan and China are currently working on the rollover of around USD 3 billion bilateral debt within the ongoing month. Also Read: Pakistan’s forex reserves double to $8.73 billion, reach nine-month high Not just China, the Islamic nation has to pay back Saudi Arabia's debt as well.

Sri Lanka is considering the possibility of allowing the usage of the Indian rupee for local transactions just like the dollar, euro and yen to facilitate Indian tourists and businessmen, Foreign Minister Ali Sabry said on Saturday. Sabry was briefing the media here on President Ranil Wickremesinghe's visit to India on July 20-21, his first since assuming office last year. He held talks with Prime Minister Narendra Modi on Friday.

BRICS nations will consider at their summit next month is the establishment of long-term payment systems for cross-border commerce, the Russian Foreign Ministry said. «Given the current international situation, this issue will be addressed during the upcoming meeting of the bloc's leaders,» the ministry said on Friday, referring to the summit in Johannesburg, South Africa, on August 22-24, RT reported. The use of national currencies in cross-border commerce is hindered, according to the Russian Foreign Ministry, by things like their restricted convertibility and higher volatility than the US dollar.

Barbie' has been ruling at theatres across the world, but there is trouble brewing for the film in Pakistan, as Islamabad has taken a ban into consideration due to the film's LGBTQ+ themes. But the answer is not a definitive one because the movie is all the rage right now and something that has the audience's interest, but with many extremists opposing it, Pakistan's Punjab Censor Board has put a temporary ban on it due to what they consider «objectionable content.» According to Daily Pakistan, the ban on the movie will eventually be removed once the «objectionable content» is cut out of the movie.

Pew Research Center released a comprehensive study exploring the views of Chinese Americans on China and other countries. The study revealed that Japan, Taiwan, and South Korea were viewed favorably by the majority of Chinese Americans. However, only 41% of Chinese Americans had a favorable view of China, while 54% held an unfavorable opinion of their ancestral homeland.

hedge fund managers. From endless inflation to the great bear market of 2022, getting a grip on investing and economic trends has proved exceedingly difficult over the past three years.  “Investors underestimated the growth profile of the US and overestimated the pace of recovery in China," said Mark Freeman, chief investment officer at Socorro Asset Management LP.

ANI, Massimo Introvigne, an Italian sociologist of religions and author, shared in his article on Bitter Winter how he refrained from visiting Afghanistan, despite being a keen traveller, to prevent the Taliban from benefiting from the sites they themselves had demolished. “The Afghan regime desperately needs cash. It cannot show the Bamiyan Buddhas for the good reason it blew them up.

The Biden administration’s attempt to surgically cut economic ties with China is proving difficult to execute. Treasury Secretary Janet Yellen visited Vietnam this week to discuss her push for “friendshoring," a term she uses to call for companies to shift supply chains from China to friendlier nations. Trade between the U.S.