Xi Jinping’s confidant Li Qiang China’s new Premier
BEIJING: China’s Parliament on Saturday confirmed President Xi Jinping’s trusted ally Li Qiang as the new Premier to revive the world’s second-largest economy hit by three years of ‘zero-Covid’ restrictions and worsening ties with the West. Li Qiang, 63, succeeds Li Keqiang, 67, who held the post for 10 years. The annual session of the […]
India, China trade crosses $100 billion during January-September; deficit up at $75 billion
BEIJING: India and China bilateral trade continued to boom, crossing USD 100 billion for the second year in the first nine months of 2022 while India’s trade deficit climbed to over USD 75 billion, according to trade data released by Chinese customs. The total bilateral trade, amidst the military standoff in eastern Ladakh, went up […]
Industry choosing US over China, Japan to manufacture chips: Joe Biden
WASHINGTON: Global chips manufacturing industry is opting for the United States (US) over countries like China and Japan to set up their plants, President Joe Biden said as he announced two major investments by these companies here. China, Japan, South Korea, the European Union — all these places are investing tens of billions of dollars […]
India engineering goods exports jump to $82 billion during April-December 2021
NEW DELHI: Exports of Engineering Goods jumped to USD 81.8 billion during April-December 2021 (Provisional) as compared to USD 52.9 billion during same period in the previous year (2020), registering a stupendous growth of 54%. Engineering Goods sector constitutes the largest, more than 27%, share of India’s total exports basket during the period. As compared […]
Former RBI Governor Urjit Patel appointed Vice President of AIIB
NEW DELHI: Former RBI Governor Urjit Patel has been appointed as a Vice President of the Beijing-based multilateral funding institution AIIB, according to sources in the bank on Sunday. India is a founding member of the Asian Infrastructure Investment Bank (AIIB) with the second highest voting share after China. It is headed by former Chinese […]
CAIT pegs Rs 50,000 crore losses to Chinese exporters this Diwali
NEW DELHI: Trader’s body CAIT on Friday said it estimates Chinese exporters to suffer business losses worth Rs 50,000 crore this Diwali season due to its boycott call. The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period. “Like previous year, […]
World’s richest 500 lose $135 billion as Evergrande concerns spark market rout
By Tom Maloney & Blake Schmidt A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes Monday, with the richest 500 people losing a combined $135 billion. Tesla Inc.’s Elon Musk led the declines as his world-leading net worth fell $7.2 billion to $198 billion, according to […]
Indian startups raise USD 16.9 billion VC funding in 2021, next only to China
NEW DELHI: Indian startups got USD 16.9 billion of venture capital funding in 2021, next only to Chinese counterparts in the Asia-Pacific (APAC) countries, GlobalData said Friday. “Despite the third wave of COVID-19 pandemic looming large and slow economic recovery, venture capital (VC) investors seem to be reposing faith in the Indian startup ecosystem. In […]
China launches first bullet train in Tibet, close to Indian border
BEIJING: China on Friday operationalised its first fully electrified bullet train in the remote Himalayan region of Tibet, connecting the provincial capital Lhasa and Nyingchi, a strategically located Tibetan border town close to Arunachal Pradesh. The 435.5-km Lhasa-Nyingchi section of the Sichuan-Tibet Railway has been inaugurated ahead of the centenary celebrations of the ruling Communist […]
China silent on independent probe on charges of Covid-19 leak from Wuhan lab
Chinese President Xi Jinping writes to Narendra Modi, offers help to fight Covid-19 surge
NEW DELHI: Chinese President Xi Jinping on Friday sent a message of condolences to Prime Minister Narendra Modi over the coronavirus pandemic in India and offered to provide support and help to deal with the current surge of COVID-19 cases in the country. President Xi sent a message of condolences to Prime Minister Modi over […]
China opens 5G station at world’s highest radar location near Tibet border
BEIJING: China has opened a 5G signal base at the Ganbala radar station in the remote Himalayan region of Tibet which is the world’s highest manually operated radar station at an elevation of 5,374 meters, the Chinese military’s official website reported on Monday. The mountain is located in Nagarze County in Tibet which is in […]
China’s liquor company starts beer production in Balochistan; to cater to Chinese workers in Pakistan
By Sajjad Hussia ISLAMABAD: A Chinese liquor company which was granted a licence in 2018 for making beer has formally started production at its plant in Pakistan’s Balochistan province, the first such alcohol firm from China to establish its unit in the Islamic nation, according to media reports on Wednesday. Hui Coastal Brewery and Distillery […]
China to connect Tibet with high-speed bullet trains before July: Official
BEIJING: China will operate bullet trains to Tibet, close to the Indian border in Arunachal Pradesh before July this year, marking the opening of high-speed train services to all Chinese mainland provincial-level regions, a senior official has said. A 435-km rail link to the regional capital of Lhasa will run Fuxing high-speed trains powered by […]
We must continue to trade with China: Bajaj Auto MD Rajiv Bajaj
NEW DELHI: Favouring continuation of trade with China, Bajaj Auto Managing Director Rajiv Bajaj on Saturday said goods should be procured from wherever they are most competitively available. He was speaking at a session on ‘Building Reliable Supply Chain’ at the second day of the three-day virtual Asia Economic Dialogue 2021, jointly convened by the […]
China says China, US and Europe should work together to uphold multilateralism
BEIJING: China, the United States and Europe should work together to uphold multilateralism, after US President Joe Biden called for democracies to coordinate their approach to China, foreign ministry spokesman Wang Wenbin said at a briefing on Monday. Biden on Friday drew a sharp contrast with the foreign policy of his predecessor, Donald Trump, and […]