China Financial News

A decline in Germany’s industrial output suggested sustained manufacturing weakness in Europe’s largest economy. Inflation expectations remained elevated in the UK and services activity in China grew at a slower pace.

Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain 'opaque' and higher than normal, sources said. Russia bills Indian refiners at a price shade less than the USD 60 per barrel price cap imposed by the West but charges anything between USD 11 to USD 19 per barrel, twice the normal rate, for delivery from the Baltic and Black Sea to the west coast, three sources with knowledge of the matter said.

China look set to send a deluge of production into the market. The construction of more than 20 petrochemical projects — to produce raw materials that go into making everything from plastic packaging to clothing and detergents — will be completed across China this year, said industry consultant ICIS. While part of their output will go into factories across what is still the world’s largest consumer, a slower-than-expected rebound in China’s economy and excessive investment means oversupply is on the cards.

Former Deputy Assistant Treasury Secretary Christine McDaniel discusses Janet Yellen's trip to China, the Biden administration's 'Bidenomics' tour and the UPS, Teamster labor talks.

climate change and debt distress. She reiterated that Washington was not seeking to decouple from China's economy, adding doing so would be "disastrous for both countries and destabilizing for the world." But she said the United States wanted to see an "open, free and fair economy," not one that forces countries to take sides. She said she used the discussions to raise "serious concerns" about what she called China's "unfair economic practices" and the recent uptick in coercive actions against the US firms.

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By Julie Zhu and Josh Ye

electric vehicle (EV) sector, Renault Chairman Jean-Dominique Senard told Reuters on Saturday, as Asia's superpower dominates key raw materials to make batteries for zero emission cars. China's recent decision to restrict exports of two metals — gallium and germanium — used in semiconductors and EVs should raise red flags for European leaders as it shows the continent's over-reliance on China and the need to build a costly supply chain, Senard said in an interview.

A career that has spanned 25 years, put India on world table tennis map, and collected almost all accolades, is still longing for that one medal. Sharath has never returned emptyhanded from the Commonwealth Games (CWG) ever since making the debut in 2006. The Asian Games box was also ticked off in 2018, with two bronze medals – men’s team and mixed doubles.

Bangladesh follows a «balanced and independent» foreign policy and is not subservient to any country, Foreign Minister Dr AK Abdul Momen said on Saturday, emphasising that his country was «not China's tail». Momen also said that its relations with next-door neighbour India are «rock-solid» and added, «We are in a golden chapter in our relations with India». «Some people think we are rushing towards China, but (actually) we are not heading towards anyone,» Momen said while speaking at an interaction with members of the Diplomatic Reporters Association of Bangladesh (DCAB) at the Foreign Service Academy here.

Twitter’s plans to roll out a payment platform took a major step forward this week as its subsidiary, Twitter Payments, received its first money transmitter licenses in the United States states of Michigan, New Hampshire and Missouri. 

By Andrea Shalal

Hindustan Times quoted BCCI secretary Jay Shah as saying after the 19th Apex Council meeting. ALSO READ: India to send men and women cricket teams to Asian Games; choose from players not taking part in World Cup 2023 Earlier, the BCCI Apex Council approved on Friday that the IPL version of the much-talked about Impact Player Rule will be used in the Syed Mushtaq Ali T20 Trophy (SMAT) beginning 16 October. It us set to take place in Hangzhou, Chinna in September-October.

₹21,944 crore, hinting that these inflows are likely to surpass investments made in June and May this year. FPIs are likely on the path of recording the fifth monthly buying in the Indian market in a row. This foreign funds inflow is driven by a strong rally in Indian markets with Sensex and Nifty 50 hitting new lifetime highs this week.

Treasury Secretary Janet Yellen appealed to China on Saturday for cooperation on climate change and other global challenges and not to let disagreements about trade and other irritants derail relations. In a meeting with her Chinese counterpart, Vice Premier He Lifeng, Yellen defended US restrictions on technology exports that rankle Beijing. She said the two governments shouldn't let such disagreements disrupt thriving economic and financial relations.

By Andrea Shalal and Yew Lun Tian

Nifty scaled new all-time peaks, foreign institutional investors or FIIs invested about $2.7 billion on Indian stocks in just 5 trading days of this week. The fresh round of inflow comes in even as 93% of Wall Street traders are presuming that the US Fed will hike interest rates by 25 basis points during the FOMC meeting on July 25-26. If this trend continues, monthly FII flows in July will exceed the figures in May and June, which were $5.3 billion and $5.7 billion, respectively.

USD Coin (USDC) issuer Circle has frozen $63 million belonging to three wallet addresses associated with the hack of the cross-chain bridge platform Multichain.

alliance about the specific nature of this collaboration as they grapple with how to navigate their relationship with China. Chief Cabinet Secretary Hirokazu Matsuno confirmed that Kishida intends to emphasize the importance of stronger relations between Japan and NATO, despite objections from Beijing regarding the alliance's activities in the region. Alongside Kishida, leaders from South Korea, Australia, and New Zealand will also be present at the summit in Vilnius.

Chinese Foreign Minister Qin Gang's prolonged absence from public view for 12 days has raised concerns and speculation about his well-being. Qin was scheduled to meet with the European Union's top diplomat, Josep Borrell, this month, but China unexpectedly postponed the meeting without providing further information. There have been rumors in Brussels that Qin's absence might be due to health issues, but Chinese Foreign Ministry spokesman Wang Wenbin stated that he had not heard about such reports during a press briefing in Beijing. The official website of the Chinese Foreign Ministry indicates that Qin's last official engagement was on June 25, where he met officials from Sri Lanka, Russia, and Vietnam. On the same day, he also participated in an event alongside Chinese Premier Li Qiang and Barbados Prime Minister Mia Amor Mottley. Additionally, a lunch meeting between Qin and ambassadors from the European Union in late June was abruptly canceled, according to an ambassador based in Beijing who was on the invite list.

Dalai Lama on Saturday expressed willingness to talk to Beijing, making it clear that he is not seeking Tibet's independence from China. «China is changing and has now realised that the Tibetan people are very strong and in order to deal with the Tibetan problem, they want to have contact with me and I am also ready,» he told media persons at the Kangra airport before leaving for Delhi.