China Financial News
08.07 / 08:39
Target
Limelight
India biggest source market, likely to stay so for next couple of years: Sri Lanka Tourism Promotion Bureau
India is the biggest market for Sri Lanka in terms of tourism arrivals and that is likely to be the case in the long term as well, said said Chalaka Gajabahu, chairman, Sri Lanka Tourism Promotion Bureau (SLTPB), the government body responsible for handling all marketing and promotion activities for the island nation. «In terms of numbers, right now, India is the number one source market for us and I'm pretty sure it's going to stay there for the next couple of years and for our long term plans as well,» he said. Gajabahu said the country has already got over 600,000 incoming tourists till June 30.
08.07 / 08:15
COST
UPS
Provident
Extreme
Manufacturing
Warning
China Controls Minerals That Run the World—and It Just Fired a Warning Shot at US
SINGAPORE—China’s decision this week to restrict the export of two minerals used in semiconductors, solar panels and missile systems was more than a trade salvo. It was a reminder of its dominant hold over the world’s mineral resources—and a warning of its willingness to use them in its escalating rivalry with the U.S. Around two-thirds of the world’s lithium and cobalt—essential for electric cars—is processed in China.
08.07 / 06:43
COST
Manufacturing
CEO
Platform
Key triggers that may dictate stock market rally in near term, explains Sunil Subramaniam
equity market is at a record level but valuations are still around the long-term mean, which may lead markets to touch higher levels if earnings growth plays out, says Sunil Subramaniam, MD and CEO, Sundaram Mutual. In an interview with Livemint, Subramaniam talked about the FII inflow trajectory amid signs of further rise in interest rates, broader market outperformance, India’s attractiveness for foreign investors, and the domestic mutual fund industry.
08.07 / 06:25
UPS
MET
FIVE
BLOCK
Cooper
NATO’s New Focus on China Creates Internal Tension About Mission Creep
NATO was created to deter Soviet tanks and missiles in Europe. Now it is also in the business of deterring China’s global ambitions, spurring concern among some members about mission creep and accusations by Beijing of inciting confrontation.
08.07 / 06:01
Ball
BCCI takes key decisions in Council Meet; approves India's participation in Asian Games among other things
India (BCCI) in its 19th apex Council meet on Friday decided to send both the men's and women's criclet teams to participate in the Asian Games which are scheduled to be held in September 2023 at Hangzhou, China. With the ICC Men's Cricket World Cup scheduled to commence on October 5, the cricket governing body has announced to send a second string team of men. Nonetheless, women's team will mark their presence in full strength.
08.07 / 06:01
UPS
Action
Matthews
Rohan Bopanna-Matthew Ebden make winning start at Wimbledon
India's Rohan Bopanna and his men's doubles partner Matthew Ebden from Australia survived a scare before prevailing over Argentine duo of Guillermo Duran and Tomas Etcheverry to advance to the second round of the Wimbledon. The sixth-seeded Indo-Australian duo outwitted the spirited Argentine pair 6-2 6-7 (5-7) 7-6 (10-8) in their opening match that lasted two hours and 12 minutes.
08.07 / 04:27
UPS
IPO
Tencent
Ant
valuation
Ant to buy back shares at 70% lower valuation than at IPO
Ant Group Co. is proposing to buy back as much as 7.6% of shares in an effort to retain talent and offer an exit for investors ensnared by a years-long regulatory crackdown at the company. Ant’s planned repurchase of the equity would value the company at about 567.1 billion yuan ($78.5 billion), it said in a statement on Saturday.
08.07 / 04:27
UPS
Action
Indus
Indian
Eastern Ladakh: Indian Army tanks, combat vehicles carry out drills to cross Indus river, attack enemy positions
Indian Army formations carried out drills in Eastern Ladakh to cross the Indus River and attacks in enemy positions. Team ANI witnessed the special drills carried out by Indian Army's tank formations including the T-90 and T-72 tanks and BMP infantry combat vehicles to cross the mighty Indus river which flows from the Tibetan territory controlled by the Chinese Army through the entire Ladakh sector before entering Pakistan.
08.07 / 04:27
Target
Waters
JPMorgan
Fighting
Citigroup
Chase
week
5 world market themes for the week ahead
1/ UNDER PRESSURE Markets have come around fast to the Fed's view that instead of being cut anytime soon, rates will remain high for longer. After another brutal bond sell off, focus turns to Wednesday's U.S. inflation data.
08.07 / 04:21
08.07 / 04:21
08.07 / 03:53
UPS
IPO
Provident
Mobile
Pool
Ant
Ant's share repurchase plan values firm at nearly $79 billion
Ant Group on Saturday announced a share repurchase plan that values the fintech giant at $78.54 billion, as the management seeks to replenish its staff incentive pool and let some investors exit after regulators fined the firm. It marked a sharp fall in the $300 billion-plus value ascribed to the company in mid-2020 before its IPO planned for later that year was pulled.
08.07 / 03:21
UPS
Target
Cooper
Williams
Fighting
Morningstar
Support
Janet Yellen urges China to support existing institutions to fight climate change
China, as the world's two largest economies, must work together to combat the «existential threat» of climate change, U.S. Treasury Secretary Janet Yellen told Chinese government officials and climate experts on Saturday.
08.07 / 03:21
UPS
Target
Goldman targeted by Chinese media for bearish bank view
Goldman Sachs Group research after the securities firm's analysts recommended selling shares of local banks, the latest sign of official attempts to counter negative sentiment in markets as the economy slows. The market shouldn't take a bearish view on Chinese banks based on pessimistic assumptions, and negative premises are misinterpretations of the facts, according to a Securities Times report Friday, referring to a Tuesday research note from Goldman. Banks have been actively lowering their exposure to property loan risks, while local governments have stepped up efforts to ease debt risks, the Securities Times said.
08.07 / 03:21
CEO
Strategy
NIFTY
SENSEX
ADP
Time
D-Street indices retreat after hitting fresh all-time highs
Mumbai: Indian shares retreated Friday in anticipation that the US Federal Reserve will tighten policy even further to tame sticky inflation. India’s leading equity benchmarks fell nearly 1%, their biggest single-day drop since mid-April — after briefly touching fresh all-time highs in Friday’s trading — dragged down by heavyweight financials, technology, consumer staples and utilities. The Sensex declined 505.19 points or 0.77% to settle at 65,280.45.
08.07 / 02:29
Oppo says India operations unaffected by High Court's 23% deposit ruling
Oppo India has said the Delhi High Court ruling asking the Chinese smartphone brand to deposit almost a fourth of the amount it last paid Nokia as royalty under a 2018 pact for alleged patent infringement has no effect on its operations and sales in the country. “The decision only concerns a temporary deposit as warranty.
07.07 / 20:59
Booking
Remark
Tata Motors' JLR free cash flow seen at £400 million in Q1FY24
New Delhi: Jaguar Land Rover (JLR), Tata Motors' luxury auto arm on Friday said it expects to report free cash flow for the April - June quarter to cross £400 million, the company said in a press release. To be sure, JLR had shared guidance that it expects to generate £2 billion for the fiscal. The Coventry-based maker of luxury SUVs like Range Rover, Discovery and Discovery said sales during the first quarter of the financial year 2024 improved significantly on the back of a continuous improvement in chip and other supply constraints.
07.07 / 19:53
UPS
IPO
Reuters
Platform
Tencent
Fine
Ant
regulatory
China ends Ant Group's regulatory revamp with $984 million fine
By Julie Zhu and Jane Xu
07.07 / 19:17
Indian
Some Indian refiners paying Russian oil suppliers in Yuan
Indian refiners, including a private refiner, have paid for some Russian oil imports in Chinese currency Yuan following such demands from suppliers, according to people familiar with the matter. Indian refiners pay for most of most of the Russian oil in dollars but some cargoes that are priced above the G7 price cap of $60 per barrel are paid for in non-dollar currency to avoid the US scrutiny. So far, it was UAE's dirham that Indian refiners used for paying Russian suppliers but now at least two refiners have paid in Chinese Yuan as well, according to people familiar with the matter.
07.07 / 19:07
07.07 / 19:07
UPS
Southern
Solar
First Solar, Castle Biosciences rise; Levi Strauss falls, Friday, 7/7/2023
Stocks that traded heavily or had substantial price changes on Friday: First Solar, Castle Biosciences rise; Levi Strauss falls
what's happening in China
What is the current situation in China?
In China, the spotlight is on local government initiatives that spark public discussion.
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