Category: China
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India boosts defense ties with Bangladesh as it tries to become a counterweight to China
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Breadcrumb links BMN Business Article writer: Associated Press Ashok Sharma Posted on June 22, 2024 • 2 min read You can save this article by registering for free here. Or log in if you have an account. Article content NEW DELHI (AP) — India and Bangladesh on Saturday moved to…
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Oil prices fall on weaker US consumer demand, China data By Reuters
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Written by Colin Howe and Mohi Narayan NEW DELHI (Reuters) – Oil prices fell in Asian trading on Monday after a survey on Friday showed weak US consumer demand and with crude production rising in May in China, the world’s largest crude importer. Global futures for August delivery fell 29…
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China views Taiwan’s ‘elimination’ as national cause, Taiwan president says By Reuters
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Written by Ben Blanchard and Ann Wang KAOHSIUNG, Taiwan (Reuters) – Taiwan President Lai Ching-te said on Sunday that China considers the annexation and “elimination” of Taiwan its major national issue, telling students at the First Military Academy that they should know their enemy and not surrender to him. Defeatism.…
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Argentina extends currency swap with China, defusing repayment fears By Reuters
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BUENOS AIRES (Reuters) – Argentina and China have renewed the activated portion of a major currency swap line for the equivalent of $5 billion until July 2026, the central bank said on Wednesday, dispelling concerns that they may have to make large installments over the next month. . The South…
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Four American educators stabbed in park in northeast China, say US media and officials By Reuters
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BEIJING (Reuters) – Four American professors from a small university in Iowa were wounded in a stabbing attack in a public park in northeastern China’s Jilin province on Monday, according to US media and US government officials. Iowa State Representative Adam Zapner told Reuters that his brother was one of…
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Volvo is moving EV production from China to Belgium as the EU eyes tariffs on Beijing
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Volvo Cars has begun shifting manufacturing of Chinese-made electric cars to Belgium, as the European Union prepares to impose tariffs on electric cars made in China, The Times reported. In addition to moving production of the Volvo EX30 and EX90 models to Belgium, the automaker may also move assembly of…
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Volvo shifting EV production to Belgium to evade China tariffs, The Times reports By Reuters
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(Reuters) – Volvo Cars has begun moving production of Chinese-made electric cars to Belgium in the hope that the European Union will press ahead with a crackdown on Beijing-backed imports, The Times newspaper reported on Saturday. The newspaper, quoting informed sources in the company, said that Volvo, whose majority shares…
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China, UAE Vow to Combat Telecom Fraud and Online Gambling
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In a move that signals a global shift, China and the United Arab Emirates have established a strategic alliance to combat cybercrime involving cryptocurrencies. Joint effort to combat cryptocurrency crimes The partnership comes amid a surge in cryptocurrency fraud activity in Hong Kong, highlighting the growing need for international cooperation…
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US lawmakers ask FBI for briefing on GenScript Biotech’s links to China By Reuters
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Written by Karen Freifeld (Reuters) – The U.S. House Committee on China has asked the FBI and intelligence agencies to provide a briefing on biotech company GenScript and three subsidiaries to determine whether the Chinese Communist Party has influence over their operations. In a letter dated May 30 to the…
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Mastercard and Ant Group Launch New Program to Boost Travel and Business in China
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Ant Group and Mastercard have introduced a new program to boost tourism and local businesses in Shanghai, China. These financial giants, along with 12 third-party payment partners of Alipay+ and other major international card institutions, launched the International Consumer Friendly Zones Program today (Friday) to stimulate economic growth in the…
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Asia FX weakens as China PMIs disappoint; Dollar steady before PCE data By Investing.com
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Investing.com — Most Asian currencies fell on Friday, with China’s yuan heading back towards six-month lows after disappointing business activity readings, while the dollar steadied in anticipation of key inflation data. Regional currencies also remained under pressure amid lingering concerns about US interest rates rising for longer, as hawkish comments…
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Post-Covid, China is back in Africa and doubling down on minerals
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China’s flagship economic cooperation program is bouncing back after a lull during the global pandemic, with a primary focus on Africa, according to a Reuters analysis of lending, investment and trade data. Chinese leaders cite billions of dollars allocated for new construction projects and record two-way trade as evidence of…
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BofA sees dollar weakness amid negative US data, China optimism By Investing.com
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Bank of America (BofA) highlighted several factors contributing to potential headwinds for the US Dollar (USD). The bank pointed to recent negative surprises in US economic data and growing positive sentiment towards the Chinese economy as key drivers behind the US dollar’s challenges. Furthermore, Bank of America noted the currency’s…
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China is ‘doubling down’ on chip investment with $47.5B Big Fund III
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Beijing is “redoubling its efforts” in its quest to have China manufacture its own chips for billions more Investment round In the China Integrated Circuit Industry Investment Fund, known by its nickname “Big Fund”. The latest fund pledged as much money as the previous two rounds combined. Previous efforts to…
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China Evergrande liquidators in talks to sell stake in EV unit
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Wenjin Ling/E+ via Getty Images China Evergrande’s (OTCPK:EGRNF) liquidator is in talks with a third-party buyer to sell a stake in the troubled property developer’s electric vehicle unit. This news led to a rise in Hong Kong-listed China Evergrande New Energy Vehicle Group shares about 87%. if After the deal…
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Checking pulse of China profits, eyeing yen action By Reuters
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Written by Jamie MacGyver (Reuters) – A look at the day ahead in Asian markets. Trading volume and activity across Asia on Monday will be among the lightest this year due to public holidays in the US and UK, but markets are open and there is no shortage of releases…
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After China drills, Taiwan president again extends goodwill By Reuters
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TAIPEI (Reuters) – Taiwan President Lai Ching-te once again showed goodwill toward China and offered cooperation on Sunday after two days of Chinese war games near the island, saying he looked forward to promoting mutual understanding and reconciliation. China, which claims to democratically rule Taiwan as its own territory, held…
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France topples China on loans as President Ruto looks West
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France and Germany have overtaken China in budgeted loans from rich countries for the new year that begins in July, highlighting President William Ruto’s realignment with the West in a foreign policy shift from that of his predecessors. In its budget books, the Treasury listed France as the largest bilateral…
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Asian Stocks Rise After US Gains, China Support: Markets Wrap
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(Bloomberg) — Asian stocks were mostly higher in early trading after U.S. stocks hit a new record high amid resilient corporate earnings and as China took steps to shore up its real estate market. Most read from Bloomberg Stocks rose in Australia and Japan, and Hong Kong futures pointed to…