Page 162 - China

Govt reviewing FDI flow from China in Paytm Payments Services: Report

The government is examining foreign direct investment from China in Paytm Payments Services Ltd (PPSL), the payment aggregator subsidiary of One97 Communications Ltd, sources said. In November 2020, PPSL had applied for licence with the Reserve Bank of India (RBI) to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways. However, in November 2022, RBI rejected PPSL's application and asked the company to resubmit it, so as to comply with Press Note 3 under FDI rules. One97 Communications Ltd (OCL) has investment from Chinese firm Ant Group Co. Subsequently, the company filed the required application on December 14, 2022 with Government of India for past downward investment from OCL into the company in order to comply with Press Note 3 prescribed under FDI guidelines. An inter-ministerial committee is examining investments from China in PPSL and decision would be taken on the FDI issue after due consideration and comprehensive

Argentina friendly in mainland China cancelled over Messi's absence in HK

An Argentina soccer friendly in China next month was cancelled on Friday in more fallout from Lionel Messi failing to play in a club exhibition match in Hong Kong. World Cup champion Argentina, captained by Messi, last month scheduled a tour of China during the international break from March 18-26. Games were lined up against Nigeria in Hangzhou and Ivory Coast in Beijing. Both opponents are coincidentally meeting in the Africa Cup of Nations final this weekend. But Messi, on tour with his Inter Miami club, outraged fans in Hong Kong when he didn't play against a local selection last Sunday and remained on the bench. Messi said he had a groin injury. But his excuse didn't wash in Hong Kong after he played for 30 minutes on Wednesday in Tokyo against Vissel Kobe. On Friday, the sports bureau in Hangzhou canceled the Argentina-Nigeria friendly. "Because of the reasons known to all, we've learned from supervising authorities that the conditions are immature for the match to go forwa

China's ongoing property crisis is starting to ripple across the world

The 60 Curzon residential development in Mayfair where insolvency experts from Interpath Advisory have been appointed

EAM Jaishankar bats for deeper ties among Indian Ocean region nations

External Affairs Minister S Jaishankar on Friday called for shoring up engagement among countries of Indian Ocean region to confront challenges like safeguarding sovereignty, dealing with cases of disregard to maritime laws and flouting of long-standing pacts, in remarks seen as an oblique reference to China's military assertiveness including along the Line of Actual Control. In an address at the seventh Indian Ocean Conference in Perth, he also flagged concerns over unsustainable debt, opaque lending practices, unviable projects and "injudicious" choices, in thinly-veiled comments that came amid concerns over many countries falling into the Chinese 'debt trap'. Jaishankar also said the Quad supports a larger architecture in "this part" of the world and those who mischievously suggest that the four-nation coalition questions the centrality of the ASEAN are "playing their own". "As we gaze at the Indian Ocean, the challenges besetting the world are on full display there. At one ...

India's true manufacturing rival is Vietnam, not China

For India to succeed, it needs to start thinking outward, which means understanding that the investment and business environment there isn't competitive

China's central bank projects 'modest' rebound for consumer prices

In its policy report, the PBOC vowed to step up policy coordination and support consumption as well as investment, so prices stay within a reasonable range

India is scorning the energy bounty that helped to transform China

However, India is desperately short of domestic oilfields. Just 2.6 billion metric tonnes of its estimated 359 billion tonnes of carbon storage capacity is in petroleum reservoirs

India must realise that its true manufacturing rival is Vietnam, not China

If you tax inputs, you are taxing your outputs, Garcetti noted. "You are not taxing us, you are not protecting the market. What you are doing is limiting a market."

China replaces top securities regulator as Xi Jinping tries to end rout

The shift comes after Chinese authorities struggled to halt a selloff in the world's second-largest stock market with piecemeal support measures over the past few months

Alibaba boosts share buy back as revenues miss estimates for Dec qtr

Alibaba is under pressure as consumers in China, have been cutting spending, boosting rival lower-cost domestic e-commerce players such as PDD Holdings

Will soon reach point of no foreign military presence: Maldives Prez Muizzu

President Mohamed Muizzu on Wednesday said by bolstering the defence capabilities of the Maldives, the country will soon reach a point where there is no "foreign" military presence, weeks after he sought the withdrawal of Indian defence personnel from the archipelago nation. The statement comes a day after Muizzu, who rode to power on anti-India posturing, declared that the Maldives will maintain autonomous control over all its territories, including maritime, aerial, and terrestrial domains apart from enhancing Maldives' capabilities for conducting underwater surveys. In his first presidential speech on Monday, Muizzu, widely seen as a pro-China leader, had said the first group of Indian military personnel will be sent back from the Maldives before March 10 and the remaining manning two aviation platforms will be withdrawn before May 10. Currently, 88 Indian military personnel are in the Maldives primarily to operate two helicopters and an aircraft that have carried out hundreds of

Alibaba Dec quarter results: Revenue at $36.19 billion, misses estimates

The company's U.S.-listed shares, which announced an increase of $25 billion to its share repurchase program through the end of March 2027, were up 3.5% in premarket trading

Petrobras in talks for projects with Gulf, Indian, Chinese firms, CEO says

"We have two groups of Asian countries that we're interacting very much right now and we're building relationships right now - Gulf countries, India and China," he said

India to overtake China as biggest driver of global oil demand in 2027: IEA

India will overtake China as the biggest driver of global oil demand in 2027 as transportation and industry consumption in the world's fastest-growing major economy will drive growth despite a big push for clean energy and electrification, the International Energy Agency said on Wednesday. The Paris-based agency in a special Indian Oil Market Outlook to 2030 report released at the India Energy Week here, said the country's oil demand will rise from 5.48 million barrels per day in 2023 to 6.64 million bpd in 2030. China currently is the biggest driver of oil demand and India ranks No.2 in growth. The numbers given by IEA in the report seem to talk of crude oil processed into fuel for domestic as well as for exports. The domestic consumption as per the oil ministry data is around 5 million barrels per day (bpd). "India's oil demand will grow at a rapid pace by 2030 despite accelerated green energy moves," IEA director of energy markets and security Keisuke Sadamori said. "Growth in .

China's stock exchanges restrict share selling by some hedge funds

They appear to be now targeting the private fund sector, particularly hedge funds using quantitative trading strategies that typically involve short-selling

Anger over Lionel Messi's behaviour grows in China before Japan game

Many commentators drew comparisons between Messi's behaviour in Hong Kong and his demeanor in Japan, where he is scheduled to play in a friendly on Wednesday evening.

Goldman, Morgan Stanley bet on India stocks as Wall St shifts from China

Much of that cash is now heading for India, with Wall Street giants like Goldman Sachs Group Inc. and Morgan Stanley endorsing the South Asian nation as the prime investment destination

China tightens some trading restrictions for domestic, offshore investors

Some quantitative hedge funds meanwhile were banned from placing sell orders completely starting Monday, while others were barred from cutting stock positions in their leveraged market-neutral funds

China markets regulator to protect small investors as stocks hit 5 yr lows

Chinese shares gyrated on Monday, sinking to 5-year lows, after stock market regulators sought to reassure jittery investors with a promise to crack down on stock price manipulation and malicious short selling. Shares in Shanghai and the smaller market in Shenzhen, near Hong Kong, swung between big losses and small gains throughout the day. The markets have languished on heavy selling of property shares that have suffered with a slump in the real estate market. Market observers said there were signs the authorities had, as is often the case, ordered big institutional investors to step up buying of state-owned banks and other heavyweights. The Industrial & Commercial Bank of China gained 2.3%, Bank of China was up 2.6% and the Agricultural Bank of China rose 2.2%. But shares still mostly lost ground. The Shenzhen Component index lost 1.1% after dipping as much as 4.4%. The Shanghai Composite index shed 1% to 2,702.19, having lost 3.5% earlier. Wilder swings were seen in the CSI ...

Indian pharma industry relies heavily on ingredients made in China: Report

America's reliance on China for drug ingredients has raised alarm bells in Congress. House committees will hold two hearings Tuesday on drug shortages