Page 16 - International News

China moves to curb auto price war after January PV sales drop 20%

China moved Thursday to curb a fierce price war among automakers that has caused massive losses for the industry, after passenger car sales dropped nearly 20 per cent in January from the year before, the fastest pace in almost two years. The State Administration for Market Regulation released guidelines for manufacturers, dealers and parts suppliers aimed at preventing a race-to-the-bottom price war. They forbid automakers from setting prices below the cost of production to "squeeze out competitors or monopolise the market." Violators may face "significant legal risks," the regulator warned. The rules also target deceptive pricing strategies and price fixing between parts suppliers and auto manufacturers. Passenger car sales in China fell 19.5 per cent in January from a year earlier, according to the China Association of Automobile Manufacturers. That was the biggest percentage drop since February 2024. The 1.4 million passenger cars sold in January compared with 2.2 million units

India hosts BRICS Sherpas, Sous Sherpas to set agenda for 2026 chairship

India has presented to BRICS nations its priorities for its chairship of the grouping under the theme 'building for resilience, innovation, cooperation and sustainability'. New Delhi apprised the focus areas to the member nations at the first meeting of BRICS Sherpas and Sous Sherpas that was held from February 9 to 10 in the national capital. The BRICS Sherpas and senior officials from Brazil, China, Egypt, Ethiopia, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates participated in the meeting. BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, and the UAE, with Indonesia joining in 2025. It has emerged as an influential group representing around 49.5 per cent of the global population, around 40 per cent of the global GDP and around 26 per cent of the global trade. The Sherpas and other officials also jointly called on External Affairs Minister S Jaishankar. "During the ..

US adds 130,000 jobs in January, 2024 payrolls cut by nearly 900,000

US employers added a surprisingly strong 1,30,000 jobs last month, but government revisions cut 2024-2025 US payrolls by hundreds of thousands. The unemployment rate fell to 4.3 per cent, the Labour Department said Wednesday. The report included major revisions that reduced the number of jobs created last year to just 1,81,000, weakest since the pandemic year of 2020, and less than half the previously reported 5,84,000. The job market has been sluggish for months even though the economy is registering solid growth. But the January numbers came in stronger than the 75,000 economists had expected. Healthcare accounted for nearly 82,000, or more than 60 per cent, of last month's new jobs. Factories added 5,000, snapping a streak of 13 straight months of job losses. The federal government shed 34,000 jobs. Average hourly wages rose a solid 0.4 per cent from December to January. The unemployment rate fell from 4.4 per cent in December as the number of employed Americans rose and the n

After PLA purge, Xi Jinping hails loyalty of rank-and-file troops

After an unprecedented purge of the PLA at the top, Chinese President Xi Jinping on Wednesday praised troops at the "grassroots level" for their loyalty to the ruling Communist Party as he made his first public appearance ahead of the Spring Festival after the dismissals. Describing the past year as highly unusual and extraordinary, the 72-year-old leader said the people's armed forces had advanced in-depth political rectification, effectively addressed various risks and challenges, and undergone "a revolutionary tempering" in the fight against corruption. Officers and soldiers across the armed forces, especially those at the grassroots level, have been loyal to the Party, faithfully fulfilled their duties, and proven themselves capable and dependable, Xi said in his spring festival greetings to the troops via video link, official media reported on Wednesday. Two senior Chinese military officials, including the highest-ranking PLA official GenZhang Youxia, were placed under ...

US reopens El Paso airspace hours after announcing 10-day closure

The move has stranded numerous aircraft from Southwest Airlines and American Airlines at the airport

US lawmakers push for tighter curbs on China's access to chipmaking tools

The congressional warning over gaps in US export controls comes as China appears to be making breakthroughs Washington has long sought to block

India designated 'Country of the Year' at BIOFACH 2026 in Germany

India has been designated as the Country of the Year at BIOFACH 2026, the world's leading trade fair for organic products, scheduled to be held from February 10 to 13, 2026, at Nuremberg, Germany.The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, Government of India, is organising India's participation at BIOFACH 2026 with a prominent and high-impact presence.According to the Ministry of Commerce & Industry, India's participation will highlight the country's rich agricultural heritage and its strength as a major global supplier of organic products.BIOFACH Germany is the world's largest and most influential exhibition dedicated exclusively to organic food and agriculture. APEDA has been participating in BIOFACH for more than a decade and has consistently maintained a strong presence at the event.India's participation at BIOFACH 2026 marks a significant scale-up compared to previous editions, reflecting ..

Trump admin plans to hold back grant money for some Democratic-led states

President Donald Trump's administration is planning to withhold some public health and transportation money from a group of Democratic-led states. Full details have not been released, including whether the states could take any steps to avoid losing the funding. The federal government cited concerns over fraud and mismanagement of taxpayer dollars, but has not presented evidence beyond remarks from Trump and others in his administration. The approach has become a familiar one for the administration, and this time focuses on frequent targets: California, Colorado, Illinois and Minnesota. Courts have so far temporarily blocked other similar efforts by this administration to restrict funds. The latest effort targets some public health and transportation funds An Office of Management and Budget official confirmed to The Associated Press that the office is telling the US Department of Transportation and the US Centers for Disease Control and Prevention to cancel grants totalling more t

US Commerce Secretary admits visiting Epstein island, denies close ties

Lutnick, speaking to a Senate panel, described going to Epstein's island after being asked in Tuesday's hearing about Justice Department documents showing he had planned a visit

US, China can build productive relationship without decoupling: Bessent

Bessent told the conference that the US was working on "retaking sovereignty" from China in strategic industries including critical minerals, semiconductors and medicines

Paramount boosts Warner Bros bid with ticking fee, Netflix fee backstop

It did not raise its overall offer of $30 per share, or $108.4 billion including debt, for the whole of Warner Bros including cable assets

China asks banks to curb US Treasury exposure as bond market jitters grow

Chinese officials had urged banks to limit purchases of US government bonds, and instructed those with high exposure to pare their positions, according to sources

Starmer says won't quit after losing 2 aides over Mandelson-Epstien ties

The resignation of Starmer's communications director, Tim Allan, on Monday, after just five months on the job will feed the sense of crisis engulfing his office

In a first, Samsung family's Korean art collection heads on world tour

Now, the works are on their first-ever overseas tour, riding a global wave of interest in Korean culture that extends well beyond pop music and film into the country's deepest artistic traditions

Russia will actively support BRICS agenda presented by Indian chair: Lavrov

Russia will actively support India's chairmanship of BRICS with its current agenda, which is "modern, highly-relevant" with an emphasis on counter-terrorism and energy security, Foreign Minister Sergey Lavrov said on Monday. India formally assumed on January 1, 2026, the chairmanship of BRICS, a 10-member bloc comprising Brazil, Russia, India, China and South Africa, along with five new members. "India's chairmanship, in my view, presents a modern, highly relevant agenda that addresses today's challenges while preparing for the future. We will actively support it," Lavrov said in an interview with TV BRICS International Network ahead of Russian Diplomats' Day, marked on February 10. The foreign minister said that India places particular emphasis on counter-terrorism, which remains highly relevant. "Terrorist activities are observed in Afghanistan, along its borders, and along the IndiaPakistanAfghanistan corridor, as well as in other hotspots," he said. "This priority is particula

Isro identifies south polar landing site on Moon for Chandrayaan-4 mission

The Chandrayaan-4 Mission is at least two years away, but the ISRO has identified a location in the South Polar region of Moon to land its lander. The union government has approved the Chandrayaan-4 mission, designed as a lunar sample-return mission and it will be India's most complex lunar endeavour yet. "We are targeting 2028 for Chandrayaan-4," ISRO chairman V Narayanan had earlier said. According to ISRO officials, they had zeroed in on four sites of the Mons Mouton (MM) and found one of them suitable for landing on the lunar surface. Mons Mouton is a region on the Moon. Officials said they had identified locations -- MM-1, MM-3, MM-4 and MM-5. Of them, MM-4 was chosen for the landing. "The four sites in Mons Mouton area were fully characterised with respect to terrain characteristics using high resolution Orbiter High Resolution Camera (OHRC) multi view image datasets," they said. It was found that one kilometre by one kilometre area around MM-4 contains "the less hazard ..

Meet Jimmy Lai, Hong Kong's media mogul sentenced to 20 years in prison

The 78-year-old was found guilty of colluding with foreign forces and also upheld a separate sedition case

Japan PM Takaichi eyes defence, immigration reforms after landslide win

Japanese Prime Minister Sanae Takaichi's gamble that her personal popularity would lead to big election gains for her struggling party paid off hugely. On Monday, she began the process of translating that new power, made manifest in a two-thirds supermajority gained in parliamentary elections the day before, into what she hopes will be sweeping conservative legislation that will shift Japanese security, immigration, economic and social policies. The first steps include reappointing her Cabinet and pushing forward on a delayed budget, and the votes next week that will re-elect her as prime minister. Takaichi, in an interview with public television network NHK following her victory, said her efforts will make Japan strong and prosperous. NHK, citing vote count results, said Takaichi's Liberal Democratic Party, or LDP, alone secured 316 seats by early Monday, comfortably surpassing a 261-seat absolute majority in the 465-member lower house, the more powerful of Japan's two-chamber ...

Who is Thailand's leader Anutin and how did he seal clear win in elections?

Anutin is now set to head a coalition govt with comfortable majority that may end bouts of political upheaval which have rattled the Southeast Asian nation in recent years and left its economy adrift

Thailand votes in early election with three main parties vying for power

Voters in Thailand went to the polls Sunday in an early general election seen as a three-way race among competing visions of progressive, populist and old-fashioned patronage politics. The battle for support from 53 million registered voters comes against a backdrop of slow economic growth and heightened nationalist sentiment. While more than 50 parties are contesting the polls, only three - the People's Party, Bhumjaithai, and Pheu Thai - have the nationwide organisation and popularity to gain a winning mandate. A simple majority of the 500 elected lawmakers selects the next prime minister. No outright winner expected Local polls consistently project that no single party will gain a majority, necessitating the formation of a coalition government. Although the progressive People's Party is seen as favoured to win a plurality, its reformist politics aren't shared by its leading rivals, which may freeze it out by joining forces to form a government. The People's Party, led by ...