China Financial News

04.07 / 03:41

FIVE Mobile Apple Boeing Samsung Samsung sues Chinese rival BOE Technology over alleged patent violation on iPhone displays

Samsung Display has filed a lawsuit against BOE Technology, accusing the Chinese rival of infringing five of its patents for displays used in mobile devices including Apple's iPhone 12. Samsung Display, a unit of Samsung Electronics, asked a federal jury in Texas to award damages for the infringement of patents regarding organic light emitting diode (OLED) displays supplied by BOE. Samsung also seeks an injunction from the court to halt the import and sale of the affected displays.

04.07 / 02:23

Citi Digital CEO Strategy boost OCBC is looking to Greater China and Southeast Asia for a $2.2 billion boost in revenue

Singapore'sOversea-Chinese Banking Corporation has set its sights on «longer term opportunities» in Greater China and Southeast Asia and expects the strategy to bring an additional revenue of $2.2 billion by 2025, CEO Helen Wong told CNBC on Monday.

04.07 / 02:13

Microchip China to restrict exports of chipmaking materials as US mulls new curbs

China will control exports of some metals widely used in the semiconductor industry, its commerce ministry announced on Monday, the latest salvo in an escalating war over access to high-tech microchips between Beijing and the United States. The controls, which China said were aimed at protecting national security and interests, will require exporters to seek permission to ship some gallium and germanium products.

04.07 / 02:13

UPS Waves Reuters Manufacturing economic data Oil steady as markets weigh supply cuts against weak economic data

Brent crude futures were up 22 cents, or 0.3%, at $74.87 a barrel by 0033 GMT. U.S. West Texas Intermediate crude were at $70.06, up 27 cents, or 0.3%.

04.07 / 01:23

Cooper PM Modi to host SCO summit virtually today, Pakistan PM Shehbaz Sharif, Chinese President Xi Jinping likely to join

The next Shanghai Cooperation Organisation (SCO) Summit will be hosted by India virtually on Tuesday. The summit is set to be joined by all SCO member states including China and Pakistan. Major highlight will be the participation of Chinese President Xi Jinping and Pakistan's PM Shehbaz Sharif. Russian President Vladimir Putin will also be the part of the summit.

04.07 / 01:03

UPS Indian Indian crude imports from Russia dip in June

imports of crude oil from Russia fell 6.5% in June after reaching a record high in May, while those from Iraq, Saudi Arabia and the US increased, according to energy cargo tracker Vortexa. India imported 1.8 million barrels per day (mbd) of Russian crude in June. China imported 1.6 mbd of seaborne Russian crude in June, 12% more than in May, and Europe took 0.42 mbd, 28% more than in the previous month.

03.07 / 20:55

Warner Bros Why is Vietnam banning the new Barbie movie?

Vietnam has banned Warner Bros’ highly-anticipated film “Barbie” from domestic distribution over a scene featuring a map that shows China’s unilaterally claimed territory in the South China Sea, state media reported on Monday.

03.07 / 20:39

UPS Dash Action Continental Uncharted Warner Bros ‘Barbie’ movie banne in Vietnam. Read here why

Vietnam has banned Warner Bros’s Barbie film from domestic distribution over a scene featuring a map that shows China’s unilaterally claimed territory in the South China Sea, reported Bloomberg Monday citing reports in VnExpress. The movie contains an ‘illegal image’ of disputed ‘nine-dash line’ used on Chinese maps to illustrate its claims over vast areas of the South China Sea, which Vietnam considers its continental shelf, the report says citing Vi Kien Thanh, head of the Ministry of Culture, Sports and Tourism’s cinema department.

03.07 / 20:35

UPS Mercantile Natgas begins July with price dip as output rises, Texas heat lets up

Investing.com — After the best monthly return in a year, natural gas began July trading with a dip on Monday as producers concluded on-site maintenance, resulting in higher output. Some of the heat that had pervaded the south of the United States also let up, reducing gas-driven demand for cooling.

03.07 / 19:05

Waters JPMorgan blast Blast from the past: Chemicals business Ixom back with $1b refinancing

Six months after Singapore-listed Keppel Infrastructure Trust ditched the $2 billion sale of its Australia and New Zealand chemicals business Ixom, it’s back on the dealmaking circuit – this time with a trip to debt capital markets.

03.07 / 18:39

Manufacturing Merit Nokia Delhi HC asks Oppo to deposit 23% of $230 million in 'royalty' case by Nokia

Delhi High Court on Monday asked Chinese smartphone manufacturer Oppo to deposit 23% of $230 million towards «royalty» for alleged infringement of Nokia's three standard essential patents (SEPs) in cellular technology. The three SEPs are said to be necessary to make cellular systems 2G, 3G, 4G, and 5G compliant. A division bench led by Justice Manmohan, while setting aside the single judge's November order that rejected Nokia's claim for royalty, said nearly two years have lapsed since Nokia filed the case and not a «single farthing» has been paid so far by Oppo.

03.07 / 18:11

UPS Provident Waves Discover NVIDIA Simulation How AI can make us understand our universe better, faster

The Astrophysical Journal Letters. International collaborations using telescopes in Europe, India (uGMRT, the country’s largest telescope, is operated by the Pune-based National Centre for Radio Astrophysics) Australia and China independently reported similar results.

03.07 / 17:39

Provident Booking Enterprise QIC in $1.6bn green loan for smart metering acquisition, capex

All the pieces have fallen into place at Vector Metering, the smart metering play now half-owned by Queensland Investment Corporation.

03.07 / 17:27

COST UPS Digital Progressive Manufacturing WTO services India’s 2022 global commercial services exports share doubled to 4.4%: WTO-World Bank

commercial services exports to 4.4% in 2022 from 2% in 2005, the World Bank and World Trade Organization (WTO) said Monday. In a report titled ‘Trade in services for development’, they said that in India, South Africa and Türkiye, jobs directly linked to cross-border services exports account for more than 10% of total services sector jobs.

03.07 / 16:51

UPS Target Man Remark Chase What Makes Putin and the World’s Autocrats So Resilient?

The recent mutiny in Russia revealed cracks in President Vladimir Putin’s regime and raised hopes in the West that his days in power were numbered. There are two reasons for caution: Autocrats have remarkable staying power and only rarely are replaced by a democratic government. Images of hundreds of heavily armed men rumbling in a convoy toward Moscow raised the possibility that the man who launched the Ukraine war and has dominated Russian politics for more than two decades could lose power.

03.07 / 16:05

Gap SPY Uncharted Mattel Warner Bros reports Margot Robbie's 'Barbie' movie banned in Vietnam over South China Sea map depiction, claim reports

Warner Bros' film, due to a scene that allegedly features a map depicting Chinese territorial claims in the South China Sea that are contested, according to reports. Vietnam is among the countries to have contested China's claim to almost all of the South China Sea, as per reports.

03.07 / 16:01

Facebook BLOCK Strategy Apple Tesla Tencent ByteDance Zuckerberg’s Quest to Re-Enter China Faces Challenge: His Own Words

Mark Zuckerberg in late 2021 had a question for those working on Meta Platforms’ strategy for its virtual-reality headset: If Apple can sell iPhones in China, and Tesla can sell cars, why can’t we sell our devices there? The question, posed on a video call, led to a push by Meta to restart its China business by selling its Quest headsets in the country, according to a person familiar with the matter, more than a decade after Facebook was blocked there. The company held discussions with several Chinese tech companies and has made progress with videogame powerhouse Tencent Holdings, people familiar with the matter said.

03.07 / 16:01

Cooper expansion SCO leaders’ meet starting today may see expansion push

NEW DELHI : The leaders’ summit of the Shanghai Cooperation Organization (SCO) takes places on Tuesday under the chairmanship of India, with a likely push for inducting Iran and possibly Belarus as new members. Apart from Prime Minister Narendra Modi, the virtual summit is set to be attended by President Xi Jinping of China, Prime Minister Shehbaz Sharif of Pakistan, President Vladimir Putin of Russia and the leaders of a number of Central Asian countries. The previous summit took place in Samarkand, Uzbekistan, in September last year.

03.07 / 15:49

ETF Progressive Apple Tesla Marvell Micron Pinduoduo Stocks making the biggest moves midday: Tesla, Rivian, XPeng and more

Check out the companies making headlines in midday trading.

03.07 / 14:27

UPS FIVE Manufacturing Strategy Mobile Motorola Motorola aims to be among top three smartphone brands in India: President Sergio Buniac

Motorola Mobility aims to be among the top three smartphone makers in India and globally in the next three years, growing sales four times over the same period, its president Sergio Buniac said. The handset maker is increasing its investments in India this year to double its sales and will also open its first camera lab within this quarter. “…we are investing a lot in the brand again, and you will see our investments increase significantly.

03.07 / 13:31

UPS Target Oil rallies on Saudi and Russian supply cuts for August

Saudi Arabia on Monday said it would extend its voluntary cut of one million barrels per day (bpd) for another month to include August, the state news agency said. Russia, seeking to nudge up global oil prices in concert with Saudi Arabia, will reduce its oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said on Monday, further tightening global supplies. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd.

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