China Financial News

Apple, which has added nearly $942 billion or 46% to its market capitalisation so far this year, is currently valued at over $3 trillion. Only 6 countries – US, China, Japan, Germany, UK and India — have a gross domestic product (GDP) bigger than Apple’s total market value.

India’s year-old campaign to boost the rupee’s role in cross-border payments has made little headway, according to people familiar with the matter, underscoring the challenges for countries trying to reduce their dependence on the dollar. The Reserve Bank of India has allowed more than a dozen banks to settle trades in rupees with 18 countries since last year and is encouraging big oil exporters such as the UAE and Saudi Arabia to South Asian nations to accept the Indian currency for trade settlements.

MNC profits last fiscal led to a record outflow of foreign exchange — nearly double the net foreign direct investments. As more private equity investments mature in the next few years, the outflows could be more than inflows.Forex outflows under the head 'Income on equity and investment fund shares' in the balance of payments, which represents repatriation of income from foreign investments such as MNC profits, hit a record $40 billion compared with net foreign direct investment of $27 billion, data from the Reserve Bank of India (RBI) showed.

Ming Tee Lee, the Malaysian billionaire behind the conglomerate which owns the InterContinental Hotels in Sydney and Hayman Island, has emerged as the key player behind the Chinese baby formula distributor in the midst of an attempt to role the board of Bubs Australia.

A director of Zeus Resources said he did not seek approval for a share trade during the company's blackout period because of a language barrier with the West Australian mining group's chairman.

real estate sector tumbled 4.2%. Britain’s FTSE 100 fell 2.2% at 7,280.50. Germany’s DAX dropped 2.6% at 15,528.54. France’s CAC 40 tanked 3.1% at 7,082.29.  In Asia, stock markets fell on Thursday, led by Hong Kong shares. Hong Kong’s Hang Seng index slumped 3% at 18,533.05. China’s Shanghai Composite lost 0.5% at 3,205.57.

Nato summit to be held in Lithuania’s capital Vilnius as South Korea, Japan, Australia, and New Zealand are planning to meet on the sidelines of the summit to discuss how to respond to Beijing’s aggressive attempts to change the status quo in the South and East China Seas. All eyes are set on the July 11-12 summit as for the first time all leaders of Nato's four Asia-Pacific partners—Japan, South Korea, Australia and New Zealand—will be attending. The four, collectively known as AP4, are currently tagged as ‘partners across the globe’ by Nato. The North Atlantic alliance will “formulate an individually tailored partnership programme (ITPP) with all four countries in order to upgrade its partnership with them to a higher level,” according to Tokyo-based Nikkei Asia. To support its move for South and East China Seas, Beijing is reportedly engaged in power projection, military build-up and hybrid and cyber operations. To counter China’s aggression in the region, Nato wants to strengthen its engagement with its Asia-Pacific partners step by step. After the ITPPs are finalised, Nato will open a liaison office in Japan in 2024. Nato will use the liaison office as a hub for cooperation with South Korea, Japan, Australia and New Zealand. China, which is closely watching Nato’s activity in the Indo-Pacific region, recently warned that South Korea will not gain anything by participating in a summit that shows hostility towards Beijing.

₹8-9 a litre in Q1. Moderation in both crude costs and softer product prices are likely to benefit OMCs’ marketing earnings in Q1, they said. The OMCs are being allowed to recover their losses on marketing during a high crude price environment.

New Delhi: India's tariffs on electronics inputs are the highest amongst competing economies, according to a study by the Indian Cellular and Electronics Association. The industry body has said that the government must begin rationalising of tariffs or import duties to reduce disadvantages and increase competitiveness with rivals like Vietnam and China.

Twitter's executive chairman Elon Musk continues to push for more regulatory oversight of artificial intelligence, claiming it may be "smarter than all humans at everything" in the future.

DPIIT) will soon roll out mandatory quality control and safety standards for a number of household electrical appliances, a senior official said on Thursday. The move is aimed at containing the import of sub-standard goods from countries like China and boost domestic manufacturing. These products, which are divided under six categories, include Vacuum Cleaners, Electrical Shavers Hair, Massage Appliances, Electric Steam Cookers, Electric Heating Tools, Electric Coffee Makers, and Electric Food Processors.

Here's how analysts read the market pulse: “Foreign investors continue to provide unwavering support to the domestic market, helping to sustain the ongoing rally despite weak global cues. India’s underperformance during the year is expected to reverse moving ahead. The mid- and small-cap segments have outperformed the benchmark index, with realty, oil & gas, power and consumption stocks leading the sectorial rally as provisional & economic data suggest a good Q1FY24 results.

MPs on Thursday called on the government to ban video-sharing platform TikTok unless it clarifies its links to China, days after the government blamed social media for fuelling recent riots. A Senate commission of inquiry set up to probe TikTok's handling of data and «influence strategy» said in its final report that the firm should be given until January 1 next year to come clean or face a ban in France and possibly Europe.

Investing.com — U.S. stocks were falling as investors awaited Friday’s jobs report for June after an unexpectedly strong private payrolls report.

Bubs Australia says it will turn a profit in two years, pinning its hopes on Washington DC and Beijing permitting its Melbourne factory to directly supply those markets.

Ether (ETH) price faced resistance after hitting the $1,970 level on July 3. A number of factors capped the rally, including higher odds of more interest rate hikes in the coming months and a tighter regulatory cryptocurrency environment.

₹2,641 crore, while Domestic Institutional Investors (DIIs) sold shares worth a net amount of ₹2,351 crore. Moving into July till date, FIIs continued to show interest in the Indian market by buying shares worth a net amount of ₹8,374.55 crore, while DIIs sold equities worth a net amount of ₹3,913.95 crore. The benchmark indices Sensex and Nifty both reached a new all time high.

Congress on Thursday appointed Congress leader Kanhaiya Kumar as the incharge of the National Students Union of India (NSUI). «Hon'ble Congress President has appointed Shri Kanhaiya Kumar as AICC In-charge of National Students Union of India (NSUI), with immediate effect,» the release read.

Bitcoin mining companies have been looking for a suitable region to call home ever since they were forced to leave China. 

Despite a significant downturn in the virtual world market and a drastic drop in metaverse land prices, the metaverse industry has attracted substantial investment in 2023. According to a recent report by DappRadar, venture capital funds have invested $707 million into metaverse projects this year.

New Delhi: Smartphone brand Motorola has signed actor Kriti Sanon as its brand ambassador. The company said she has been brought on board to announce its ‘Motorola Razr 40 Ultra’ and ‘Razr 40’ products. Sanon will be seen in two television commercials.