Page 205 - China

Brics: All you need to know about the global partnership and latest updates

The members countries announced the expansion of the grouping by adding six new countries - Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) - into the fold

PM Modi, China prez Xi seen having brief exchanges at Brics summit

Prime Minister Narendra Modi and Chinese President Xi Jinping were on Thursday seen having brief exchanges ahead of a media briefing by the BRICS leaders in Johannesburg. Modi and Xi are in the South African city of Johannesburg to attend the annual summit of BRICS (Brazil-Russia-India-China-South Africa). Video footage aired by a South African broadcaster showed Modi and Xi having a brief exchange. There was no official comment on the exchange by either side. Ahead of the start of the BRICS summit, there was speculation about the possibility of a bilateral meeting between Modi and Xi in Johannesburg. Modi is travelling to Greece on Thursday evening after concluding his engagements in the South African city. The prime minister and the Chinese president had a brief encounter at a dinner during the G20 summit in Bali in November last year. The ties between India and China came under severe strain following the eastern Ladakh border row that began in May 2020. Indian and Chinese t

UN Security Council, minus China, Russia condemns Myanmar military actions

Members of the U.N. Security Council minus China and Russia condemned the unrelenting violence and killing of civilians in Myanmar and again urged its military rulers to stop attacks, release ousted leader Aung San Suu Kyi and respect human rights. Thirteen of the 15 council members on Wednesday backed a joint statement that said there had been insufficient progress on implementing the first-ever Security Council resolution on Myanmar that was adopted last December. In that 12-0 vote, China and Russia, which have ties to the military that seized power from Suu Kyi's elected civilian government in February 2021, abstained along with India whose two-year term on the council has ended. Britain's deputy U.N. ambassador James Kariuki read the statement, flanked by diplomats from the other countries, after the council was briefed at a closed meeting by U.N. humanitarian chief Martin Griffiths on his recent visit to Myanmar and by Assistant Secretary-General Khaled Khiari on efforts to ..

Brics nations agree for considering new members: S African minister

No new Brics bank members to be announced at summit, says CFO

Chinese Prez Xi calls for Brics expansion speed up, security cooperation

Chinese President Xi Jinping on Wednesday called for accelerating the expansion of the BRICS grouping besides efforts to jointly fend off risks by increasing the political and security cooperation among the countries of the five-nation bloc. Xi, who skipped his attendance at the BRICS Business Forum on Tuesday sparking speculation about his absence, attended the Summit here on Wednesday where he pitched for more political and security cooperation among the member countries. He was the only leader absent from the BRICS Business Forum on Tuesday, with Chinese Commerce Minister Wang Wentao reading a speech in his place that had a hardline message apparently aimed at the US. Asked why Xi had not attended the forum, Chinese Foreign Ministry spokesman Wang Wenbin sidestepped the question, telling reporters in Beijing on Wednesday that Xi's speech had been delivered. While his speech at the Business Forum hit out at the US saying that some country, obsessed with maintaining its hegemony,

Brics Summit to advance cause of common prosperity: S Africa Prez Ramaphosa

The BRICS Summit will advance the cause of common prosperity and progress, South African President Cyril Ramaphosa said on Wednesday afternoon as he welcomed the leaders from Brazil, Russia, India and China at the opening of the 15th BRICS Summit. Ramaphosa said the BRICS partnership that straddles four continents and five countries that are home to almost three-and-a-half billion people has over the past decades been a major driver of global growth, trade and investment. We are confident that this 15th BRICS Summit will advance the cause of common prosperity and progress. We are confident that (it) will enrich and inspire our work towards the achievement of a more humane global community, he said. Underlining that BRICS stands for solidarity, progress, sustainable development, inclusiveness and a "more just, equitable world order", the president said, We are an inclusive formation of developing and emerging economies that are working together to benefit from our rich histories, ...

Brics Summit: Modi meets South African president, addresses plenary session

During the Plenary Session I of the summit, PM Modi said that BRICS (Brazil-Russia-India-China-South Africa) embarked on a long and amazing journey in the last two decades

Chinese coast guard blocks Philippine vessels near disputed shoal

As a US Navy plane circled overhead, two Philippine boats breached a Chinese coast guard blockade in a dangerous confrontation in the disputed South China Sea to deliver food and other supplies to Filipino forces guarding a contested shoal. Two Philippine coast guard vessels escorting the supply boats, however, were blocked by at least four Chinese coast guard ships for about five hours Tuesday in a tense standoff off Second Thomas Shoal. The dangerous encounter is the latest flare-up from the long-seething territorial disputes in the busy sea that involve China, the Philippines, Vietnam, Malaysia, Taiwan and Brunei. It's regarded as an Asian flashpoint and has become a delicate fault line in the US-China rivalry. The Philippine coast guard invited a small group of journalists, including two from The Associated Press, to join its ships that secured the supply boats as part of a new strategy aimed at exposing China's increasingly aggressive actions in the South China Sea, which Beiji

China's Xiaomi wins state planner nod to make EVs amid glut in autos

While NDRC's nod brings Xiaomi closer to mass production of EVs more than two years after it first announced the plans, the venture still needs clearance from the Ministry of Industry and Information

Unpaid workers, silent sites: China's property woes hit Country Garden

We are all worried," said a labourer surnamed Wang, 50, who said he had stopped work at the Yunhe Shangyuan site last week

Fanuc Corp's road to redemption runs through India and the US Fed

India is looking hot, though. Revenue growth at its wholly owned Fanuc India Private Ltd. doubled over the past two years, according to data filed with the Ministry of Corporate Affairs

How China's faltering growth threatens to derail commodities markets

Commodities have so far held up better than other assets as the economy has worsened. Freed from the constraints of the pandemic, fuel consumption has risen

Japan to release treated radioactive water starting August 24; details here

Japan has said the radioactive wastewater release is safe, which has been backed by the International Atomic Energy Agency (IAEA)

Hong Kong court upholds minimum sentences for breaching Beijing-imposed law

A jailed university student who pleaded guilty to inciting secession in Hong Kong lost his bid to reduce his five-year sentence in a court ruling Tuesday that is expected to set the bar for other cases brought under the national security law Beijing imposed on Hong Kong. Lui Sai-yu pleaded guilty in April 2022 and admitted that content on a Telegram channel he administered incited others to separate Hong Kong from China or alter the legal status of the city unlawfully. But his timely guilty plea did not get him a one-third reduction in the length of his imprisonment like in many other cases under Hong Kong's common law system because the security law imposed minimum jail terms for serious offences. Lui is one of the some 260 people who were arrested under the security law as Beijing tried to crush dissidents following the massive protests in 2019. The top court's ruling on his appeal may guide sentencings in other national security cases, including for the city's most prominent ..

Shadow banking: India bets on Jio and a boom, while China hits a funk

The trajectory of financiers, especially those who don't take state-insured deposits, is beginning to diverge in the neighbouring economies

Chinese govt eases its visa regulations temporarily for citizens of India

The price of a Chinese visa for Indian travellers ranges between Rs 3,800 to Rs 7,800

China's central bank cuts interest rate again as property slump spreads

Stocks in Hong Kong, where many of China's biggest companies trade, fell more than 1 percent Monday, while shares in mainland China were down about 0.50 per cent

India has 'open mind' for expansion of Brics: Foreign secretary Kwatra

Ahead of the BRICS summit in Johannesburg, India on Monday said it has a "positive intent" and an "open mind" for the expansion of the five-nation grouping. Prime Minister Narendra Modi is visiting the South African city from August 22 to 24 to attend the 15th BRICS summit at the invitation of South African President Cyril Ramaphosa. It will be the first in-person summit of BRICS (Brazil-Russia-India-China-South Africa) since 2019. Russian President Vladimir Putin has already decided not to travel to Johannesburg for the summit. The BRICS brings together five of the largest developing countries of the world, representing 41 per cent of the global population, 24 per cent of the global GDP and 16 per cent of the global trade. The prime minister is scheduled to leave for Johannesburg on Tuesday morning. From Johannesburg, Modi will travel to Greece where he will hold wide-ranging talks with Prime Minister Kyriakos Mitsotakis on broadening overall ties between the two countries. Aske

Japan makes final plea to gain fisheries' understanding for Fukushima plant

Japanese government officials sought understanding from fisheries groups on Monday for the impending release of treated radioactive wastewater from the wrecked Fukushima nuclear plant into the sea and pledged to support their livelihoods throughout the process that will take decades. Economy and Industry Minister Yasutoshi Nishimura met with the head of the National Federation of Fisheries Cooperatives and promised that the government is doing everything it can to ensure the safety of the release and prepared measures to protect the fisheries industry's reputation. Nishimura told the fisheries official, Masanobu Sakamoto, that the water release is essential for the plant decommissioning and Fukushima's recovery and can't be postponed. He also said the government will stand by the concerns and needs of the fisheries community until the release ends decades later. Sakamoto, at the outset, stressed that his organization as a whole remains opposed to the release, but he said members of

China's Honor stages India return with local mfg plans in early 2024

Honor had stopped selling its smartphones in India and reportedly retreated last year amid limited marketing budget and less prudent portfolio management