Category: Chinese
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Intel pleases stock market, but Chinese lie in wait
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Yesterday, Intel CEO Pat Gelsinger nearly uttered the word he had been unable to utter in his three years on the job: “spin off.” The CEO, who had devoted himself to Intel’s business unit, could not bear the idea, and he probably also recognized the regulatory and business difficulties that…
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Economic calendar in Asia Monday, September 9, 2024 – Chinese inflation data for August
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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ICL signs $170m Chinese fertilizer deal
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The agreement with AMP Holdings aims to provide water-soluble specialty fertilizers, used in drip irrigation and designed for cash crops. Israeli specialized metals company ICL (level: ICL:New York Stock Exchange: ICLIsrael Chemicals (formerly Israel Chemicals) today announced the signing of a five-year agreement with Chinese distributor AMP Holdings Group. The…
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PDD’s $55 billion stock crash sends warning on Chinese economy
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(Bloomberg) — One of the last remaining bright spots in Chinese consumption is fading fast, as the country’s economic malaise saps demand for even the most accessible goods. Most Read from Bloomberg In the latest warning to global markets about the health of China’s economy, Temu owner PDD Holdings (PDD)…
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Trudeau says Canada to impose 100% tariff on Chinese EVs By Reuters
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OTTAWA (Reuters) – Canada will impose a 100 percent tariff on imports of Chinese electric vehicles, Prime Minister Justin Trudeau said on Monday. Trudeau told reporters in Halifax, Nova Scotia, that Ottawa will also impose 25% tariffs on steel and aluminum imports from China. The tariffs come just over a…
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Factbox-List of Chinese entities who have turned to the cloud for access to restricted US tech By Reuters
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(Reuters) – Chinese entities with ties to the state are using cloud services provided by Amazon.com Inc or its rivals to access advanced U.S. chips and artificial intelligence capabilities they could not otherwise obtain, recent public bidding documents show. Providing access to such technologies through the cloud does not violate…
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Tencent-backed ‘Black Myth: Wukong’ makes game history, taking Chinese media by storm
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hapapapa Chinese made game Black Legend: Wukong The game was played on Wednesday by 2.2 million concurrent players on the online gaming platform. steamOne day after its release. The game, developed by Game Science – a Tencent (OTCPK:TCEHY) (OTCPK:TCTZF)-backed startup – is A single-player game based on a legendary Monkey…
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Scammers prey on young Chinese desperate for jobs in bleak economy By Reuters
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By Ethan Wang and Ryan Wu BEIJING (Reuters) – A Chinese mother has taken to television to demand justice for her 19-year-old mentally disabled son after con artists tricked the desperate job seeker into having breast enlargement surgery in an incident that sparked widespread outrage. The teenager, who was hoping…
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Explainer-What is the Chinese yuan carry trade and how is it different from the yen’s? By Reuters
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Written by Winnie Zhou and Summer Chen SHANGHAI/HONG KONG (Reuters) – A sell-off in global markets triggered by the unwinding of yen-funded carry trades has put the spotlight on China’s yuan, also widely used as a cheap funding currency. Although August saw the yuan rise sharply by 2% against the…
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Chinese Govt Moves $2B Worth Of Seized ETH From Plus Token Ponzi Scheme
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In a notable development, Chinese authorities have been spotted moving a massive amount of Ethereum (ETH) that was previously confiscated during a crackdown on the infamous Plus Token crypto pyramid scheme. The staggering transfer of ETH, estimated to be worth around $2 billion, has sent shockwaves through crypto exchanges, raising…
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Chinese Govt Moves $2B Worth Of Seized ETH From Plus Token Ponzi Scheme
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In a notable development, Chinese authorities have been spotted moving a massive amount of Ethereum (ETH) that was previously confiscated during a crackdown on the infamous Plus Token crypto pyramid scheme. The staggering transfer of ETH, estimated to be worth around $2 billion, has sent shockwaves through crypto exchanges, raising…
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Over 30 Chinese firms cut ties with PwC amid Beijing’s pressure over Evergrande scandal
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PricewaterhouseCoopers has seen a major loss of major clients in China after pressure from Beijing, which has urged state-owned companies to cut ties over the firm’s involvement with troubled property developer Evergrande. Over the past few months, China’s Ministry of Finance has issued “enforceable guidance” – informal verbal instructions –…
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China official protests Japan’s negative remarks at meeting with US, Chinese foreign ministry says By Reuters
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BEIJING (Reuters) – A Chinese Foreign Ministry official has expressed diplomatic dissatisfaction to Japan over negative comments made by the Japanese side during a recent meeting with the United States, China’s foreign ministry said in a statement on Wednesday. Liu Jinsong, director-general of Asian affairs at China’s Foreign Ministry, has…
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Chinese Investors Dump Record Amount of US Stocks and Bonds
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(Bloomberg) — Chinese investors sold a record amount of U.S. stocks and bonds in May as diplomatic tensions between the world’s two largest economies rose. Most Read from Bloomberg According to the latest data released by the U.S. Treasury Department on Thursday, funds in the Asian country sold $42.6 billion…
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There may be 130 million fewer Chinese people than thought
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China’s empty streets may not just be an effect of Covid There is a wild story about China. Published by Newsweek todayChina’s official population figures are wrong, with the estimate of 1.41 billion off by about 10 percent, says researcher Yi Fuxian of the University of Wisconsin-Madison. Based on birth…
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Chinese Carmakers Try to Win Over British Racing Fans
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Breadcrumbs Path Links PMN Business Every summer, more than 200,000 car enthusiasts make the pilgrimage to Britain’s Goodwood Festival of Speed near the south coast to watch fast cars roar through clouds of smoke. Article author: Bloomberg News Jimmy Nemo Published on July 11, 2024 • Read for 3 minutes…
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Asian stocks tread water amid mixed Chinese, Japanese inflation By Investing.com
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Investing.com — Most Asian stocks were rangebound on Wednesday as markets digested mixed inflation data from China and Japan, while the focus remained on when the Federal Reserve will start cutting interest rates. Regional stocks received moderate signals from Wall Street, with technology stocks seeing sharp gains and nearing new…
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EU governments hesitant on Chinese EV tariffs as trade spat escalates By Reuters
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By Philip Blenkinsop and Nick Carey BRUSSELS/LONDON (Reuters) – European Union countries are dithering over whether to back additional tariffs on Chinese-made electric cars, highlighting the challenge Brussels faces in rallying support for its biggest trade case yet as Beijing threatens broad retaliation. Germany, whose automakers made a third of…