City Shanghai Financial News
28.08 / 02:53
MET
FIVE
show
country
cover
Biden's commerce secretary is the latest Cabinet member to visit China in a bid for improved ties
Commerce Secretary Gina Raimondo is the latest member of President Joe Biden’s Cabinet to visit China as his administration tries to mend the deteriorating ties between the world’s two largest economies
28.08 / 02:39
27.08 / 16:05
Reuters
country
China's indebted property developer Evergrande Group H1 net loss declines to $4.5 billion
Reuters. The January-June loss was 33 billion yuan ($4.53 billion) versus a 66.4 billion yuan loss in the same period a year earlier, said the firm. Since late 2021, Evergrande has seen a string of debt defaults, unfinished homes, and unpaid suppliers, shattering consumer confidence in the world's second-largest economy.
27.08 / 16:05
UPS
Provident
FIVE
Platform
Gap
expansion
We have valid reasons to be wary of BRICS expansion
the future of BRICS-Plus. The Johannesburg summit of BRICS leaders, which ended on 23 August 2023, agreed to induct six new members: the United Arab Emirates (UAE), Saudi Arabia, Argentina, Iran, Egypt and Ethiopia. Along with the existing five members—Brazil, Russia, India, China and South Africa—the expanded grouping of 11 members now presents an interesting alchemy of geo-political and geo-economic interests.
27.08 / 15:11
27.08 / 10:07
UPS
Lowe's
Reuters
boost
China halves stamp duty on stock trading to boost market
China halved the stamp duty on stock trading effective Monday in the latest attempt to boost the struggling market as a recovery sputters in the world's second-biggest economy. The finance ministry said in a brief statement on Sunday it was reducing the 0.1% duty on stock trades «in order to invigorate the capital market and boost investor confidence». Reuters reported on Friday that the authorities were planning to cut the duty by up to half after a key share index fell to nine-month lows. «Such a policy will likely give a short-term boost to the market but won't have much effect over the long run,» Xie Chen, a fund manager at Shanghai Jianwen Investment Management Co, said before the announcement.
25.08 / 21:07
COST
Citi
Dota
stage
International
The International 2023: Group matches, playoffs, tickets, tournament and all you need to know
The International 2023 will take place in Seattle, Washington less than two months from now, its sale of tickets will begin soon. The North American city will host Dota 2’s biggest competition for the first time since 2017. Dota 2 is a multiplayer online battle arena (MOBA) video game owned by Valve. Before Valve decided to take The International to other cities like Singapore, Shanghai, Bucharest and Vancouver, the IT was held in Seattle.
25.08 / 14:42
NASDAQ
DOW
NIFTY
SENSEX
FIIs offload over ₹4,000 crore ahead of Fed Chair Powell speech; DII net buyers again
US Federal Reserve Chair Jerome Powell's speech at Jackson Hole. The domestic institutional investors (DIIs) were net buyers again and invested ₹1,414 crore during the session. As per the NSE data, FIIs cumulatively bought ₹10,929.61 crore of Indian equities, while they sold ₹15,567.82 crore --- resulting in an outflow of ₹4,638.21 crore.
25.08 / 12:19
UPS
Lowe's
Reuters
show
country
Exclusive-China plans to cut stamp duty on stocks by up to 50% to revive confidence-sources
HONG KONG/BEIJING (Reuters) -Chinese authorities are planning to cut stamp duty on stock trading by as much as 50%, three people with knowledge of the matter said, in a further attempt to revitalise the country's struggling stock market.
24.08 / 14:09
Ethereum
ETH
Provident
Platform
show
performer
fun
Comparing the Performance and Potential of Ethereum, Pepe Coin, and Bitgert in the Cryptocurrency Market
Ethereum is the second-largest cryptocurrency by market capitalization. Ethereum is the most popular platform for smart contracts and decentralized applications (dApps). Ethereum successfully completed its merge upgrade.
24.08 / 11:21
Booking
LGBT
NIFTY
SENSEX
Nestle
Reliance Industries
Power
Top gainers, losers today: Asian Paints, IndusInd Bank, Infosys, Power Grid, Reliance Industries; check full list
Reliance Industries and HDFC Bank, ahead of the release of Reserve Bank of India (RBI) minutes of the Monetary Policy Committee (MPC) meeting today as well as annual central bank summit in Jackson Hole, Wyoming, on Friday. Officials of the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan are meeting in Jackson Hole, Wyoming, for their yearly conference on central banking. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory.
23.08 / 16:11
business
Blockchain
China launches blockchain-powered data exchange
During the 2023 Hangzhou Summit held in Hangzhou, China, a new data exchange powered by blockchain technology was unveiled by government officials. Over 300 enterprises, including Alibaba Cloud and Huawei, participated in the exchange's debut.
23.08 / 16:11
business
Blockchain
Law
Ethereum
Telegram
Scams
Multichain
Exploit
Multichain victims search for answers in $1.5B exploit as new evidence emerges
On July 14, developers of the $1.5-billion Chinese cross-chain protocol Multichain confirmed users’ worst fears. The protocol’s CEO, identified only as “Zhaojun He,” was arrested by Chinese authorities in Kunming on May 21 after months of repeated denials on official communication channels. Also allegedly arrested was Multichain’s core team, which was operating in Shanghai.
22.08 / 20:33
UPS
Lowe's
MET
BLOCK
cover
U.S. commerce secretary to visit China amid efforts to stabilize relations
U.S. Secretary of Commerce Gina Raimondo will meet with Chinese officials and American business leaders in Beijing and Shanghai next week amid efforts to stabilize relations that have sunk to historic lows
21.08 / 16:01
UPS
FIVE
Platform
country
We face hard options on the BRICS architecture
BRICS group of countries starts on Tuesday in South Africa, the only add-on member of what began as a quartet of Brazil, Russia, India and China, which formed the original ‘BRIC’ coined by Goldman Sachs two decades ago by clubbing together hot emerging markets for global investors to bet on. Such summitry has been a regular feature since 2009, and its most notable achievement has been the Shanghai-based New Development Bank set up by the group as a multilateral lender, an alternative to the West-led World Bank and International Monetary Fund. What’s new is the context: a geopolitical upheaval is underway in the post-Ukraine-war world.
21.08 / 15:07
Citi
FIVE
information
China fines US research firm $1.5 million in crackdown on information-gathering
An American research firm has been fined $1.5 million by China’s government in a crackdown on information-gathering that has rattled foreign investors
21.08 / 10:51
UPS
Target
DOW
COMPOSITE
Stock market today: Global stocks up as traders await Fed conference for interest rate update
Global stock markets are higher as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation
21.08 / 06:05
regulation
Metaverse
China proposes to bring its social credit system to the metaverse: Report
China is reportedly looking to implement a system akin to its social credit system, but in the Metaverse and other online virtual worlds.
21.08 / 03:55
UPS
Target
COMPOSITE
Nikkei
KOSPI
Asian stocks
Stock market today: Asian stocks mixed as traders await Fed conference for interest rate update
Asian stocks are mixed as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation
21.08 / 02:45
Provident
Lowe's
country
China's central bank cuts benchmark lending rate by less than expected
China's central bank on Monday cut a key interest rate in an attempt to counter the post-Covid growth slowdown in the world's second-largest economy. The one-year loan prime rate, which serves as a benchmark for corporate loans, was reduced from 3.55 percent to 3.45 percent, the People's Bank of China (PBoC) said in a statement, while the five-year LPR, which is used to price mortgages, was held at 4.2 percent. Closely followed by the markets, the two rates are now at historic lows, after previous reductions in June.
20.08 / 17:49
Entertainment
Enterprise
NIFTY
SENSEX
National
Punjab National Bank, SAIL, 9 others placed under F&O ban list on NSE for August 21; check full list
Steel Authority of India (SAIL), Granules India Ltd, Chambal Fertilizers and Chemicals, Gujarat Narmada Valley Fertilizers And Chemicals Limited, Delta Corp, Hindustan Copper, India Cements, Indiabulls Housing Finance, Punjab National Bank, Manappuram Finance, and Zee Entertainment Enterprises Ltd are the 11 stocks that are a part of the F&O ban list by the stock exchange for Monday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.
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