City Beijing Financial News

apparatchiks in Beijing had seemingly not realised that the ensuing prosperity would turn their society into a liberal democracy, given time. Newly democratic Russia was also headed beyond history: it was planning an underwater gas pipeline to Germany, the home of Wandel durch Handel (change through trade). Even the head of its security service at the time of Kosovo, one Vladimir Putin, would denounce communism as “a blind alley".

Nobel laureate Muhammad Yunus was sworn in as the head of Bangladesh's interim government on Thursday. This follows protests that led to the ouster of former Prime Minister Sheikh Hasina earlier this week.

Chinese authorities are chasing unpaid taxes from companies and individuals dating back decades, as the government moves to plug massive budget shortfalls and address a mounting debt crisis

ride-hailing drivers are facing the threat of job loss from artificial intelligence as robotaxis begin to proliferate. Self-driving technology, still experimental, is being aggressively greenlit in China compared to the US, where approvals are often suspended after accidents. At least 19 Chinese cities are testing robotaxis and robobuses, with seven cities approving tests without human-driver monitors from at least five industry leaders: Apollo Go, Pony.ai, WeRide, AutoX, and SAIC Motor. Apollo Go, a subsidiary of technology giant Baidu, plans to deploy 1,000 robotaxis in Wuhan by year-end and operate in 100 cities by 2030. Pony.ai, backed by Japan's Toyota Motor, operates 300 robotaxis with plans to increase to 1,000 by 2026. WeRide is known for autonomous taxis, vans, buses, and street sweepers, while AutoX, backed by Alibaba Group, operates in cities including Beijing and Shanghai. SAIC Motor has been operating robotaxis since 2021. In the US, Alphabet's Waymo operates uncrewed robotaxis that collect fares, with over 1,000 cars in San Francisco, Los Angeles, and Phoenix. Cruise, backed by General Motors, resumed testing in April after an accident last year.

Three years ago in Tokyo, NBC's Peacock streaming service was a laughingstock, riddled with glitches and unfulfilled promise

China has reported its exports rose 7% in July from a year earlier, below economists' forecasts for growth closer to 10%

Tesla is recalling more than 1.6 million cars in China for a remote software upgrade to ensure that they warn the driver when the trunk is not locked shut

Vinesh Phogat's disqualification from the Paris Olympics 2024, 2008 Beijing medallist Vijender Singh has voiced his concerns, calling the situation a «huge conspiracy against India.» Speaking exclusively to India Today on August 7, Vijender criticised the decision that barred Phogat from competing in the gold-medal bout against Sarah Hildebrandt of the United States. Phogat was found to be 150 grams over the permissible weight limit, which led to her disqualification. Vijender expressed his frustration, suggesting that the disqualification was part of a broader scheme to undermine Indian wrestlers. “The way she has performed is worth appreciating. Maybe some people couldn’t digest the happiness. We can reduce five to six kilograms in one night, so what’s the problem with 100 grams? I feel that someone had some problems, and so the step to disqualify was taken. She should have been given a chance to reduce the 100 grams,” Vijender told India Today. The disqualification means that Vinesh, who had earlier confirmed India’s fourth medal in Paris by defeating Cuba’s Yusneylis Guzman in the semifinals, will return empty-handed. Phogat had achieved a significant victory on August 6 by ending Japan’s Yui Susaki's 82-match unbeaten streak, but her Olympic campaign was abruptly cut short.

BEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market.

In 2022, Michigan Gov. Gretchen Whitmer welcomed a Chinese battery company’s plan to build a $2.36 billion factory and bring a couple thousand jobs to Big Rapids

Yusuf Dikec, the Turkish shooter who has taken the Paris 2024 Olympics by storm, has a surprising secret: he didn’t always wear glasses. An old footage from the 2011 ISSF Championship reveals a sharp-eyed Dikec without his now-signature eyewear. The transformation from the bespectacled sharpshooter we know today to the focused athlete of yesteryears is intriguing. Did the glasses become a lucky charm, or perhaps a necessity over time? Regardless, the change in appearance has done little to dampen Dikec’s shooting prowess.

₹234 crore at the end of 2023-24. Transactions only picked up after RBI introduced interoperability with the UPI system. But still, the volume of e-rupee transactions remains significantly lower than UPI, debit and credit card transactions in the country, which stood at ₹149.5 trillion in 2022.

Yusuf Dikec, a Turkish shooter, has become a social media sensation thanks to his relaxed demeanor at the shooting range during the Paris Olympics. Dikec, a former officer in the Turkish Gendarmerie, a branch of Turkish Ministry of Interior responsible for the maintenance of the public order in areas that fall outside the jurisdiction of police forces, teamed up with Sevval Ilayda Tarhan to secure a silver medal in the mixed team 10-meter air pistol event. His unorthodox style, including casual attire and a hand casually tucked into his pocket, has caught the attention of many online. Dikec's teammate, Sevval Ilayda Tarhan, has defended his casual style, noting that Dikec’s choice of regular glasses and minimal gear is a personal preference that works for him. She also expressed pride in his newfound fame and confirmed that the team is aiming for gold at the next Olympics in Los Angeles. «But at the same time, he's very warm to people close to him,» she said. «You can crack jokes with him, share anything with him.»

South China Sea and aiming to counter Beijing's continuing violations of international treaty obligations, countries in the region are galvanising their defences. Two warships from the Philippines and Japan each, for the first time ever, conducted a joint exercise in the contested waters. This exercise followed a bilateral defence treaty, termed the Reciprocal Access Agreement (RAA), signed between Manila and Tokyo to facilitate joint exercises for closer security cooperation, amid China's growing assertion in the regional resource-rich waters.

tennis legends Novak Djokovic and Carlos Alcaraz are set to clash for the gold medal at the Paris Olympics 2024. Djokovic, 37, aims to avenge his recent Wimbledon loss to Alcaraz and secure his first Olympic gold, having previously won bronze in Beijing 2008. Meanwhile, Alcaraz, 21, is having a stellar year, winning the French Open and Wimbledon.

Venezuelan trap shooter Leonel Martinez, age is just a number. He is back at the Olympics after 40 long years and is not ready to walk into the sunset just yet. Martinez finished 28th in men's trap competition of the Paris Games, missing only nine of his 125 shots. It was his second Games appearance after the Los Angeles Olympics back in 1984. The next edition of the mega event will be staged in Los Angeles and Martinez says it is only fitting he finishes from where he started four decades ago. «I have a light inside guiding me towards Los Angeles 2028. That is the future for me. The work for that starts right now. I will be working with my body and with my mind. This sport is 90 per cent mental,» said Martinez, who is not a firm believer in sports science.

China will ban the export of all unregulated civilian drones that can be used for military purposes or in terrorist activities and restrict certain drone features

China’s purchasing managers’ index (PMI) for manufacturing shows that the world’s factory is sputtering. It logged a third month of contraction in a row this July, with a reading of 49.4, which is under the 50 mark that separates it from expansion.

Russia and China, reports the 'Daily Express US'. It has also been said that the US military may lose a future war against the arch-rivals if considerable investment is not made in the defense sector. The report has made it clear that major changes and significant investments are needed now and the country should not wait for the next Pearl Harbor or 9/11. The Imperial Japanese Navy conducted a surprise aerial assault on Pearl Harbor on December 7, 1941. The unprovoked attack sucked the US into World War II, and it immediately declared war on Japan.

Paris Olympics action is currently in progress with swimming being one of the primary actions here in the La Defense Arena in the city as Team USA and others are on the hunt for multiple gold medals from the various swimming events that lie ahead. Although, the road ahead seems quite tough for the athletes as the pools in France seem 'slow' to them, as they are not nearing world records quite easily, according to a previous ET report.

Economic Survey dropped a political clanger by arguing that getting FDI from China could help India improve its participation in global supply chains through exports. The strategy document notes that many companies have adopted a 'China+1' strategy to reduce reliance on Beijing for advanced electronic items and components. While India may not be an immediate 'beneficiary' of this approach to diversify manufacturing away from China, GoI's PLI scheme, taxation holidays and subsidies have significantly attracted companies to invest in India.