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Why Chinese bankcard chips may not ease Putin’s economic pain

Cut off from international payments systems by Western-led sanctions, Russia has turned to China to obtain the microchips it needs to meet surging demand for its domestic bank cards. But while Chinese manufacturers may be able to provide a quick fix for Russia’s besieged financial institutions, they are unlikely to be able to substantially ease […]

Asia-Pacific stocks mixed as data shows China’s exports rose more than expected

Shares in Asia-Pacific were mixed on Wednesday as investors watched for market reaction to the release of Chinese trade data. New Zealand also hiked its rate by 50 basis points, its biggest increase in more than 20 years. Mainland China’s Shanghai composite slipped 0.82%, closing at 3,186.82 while the Shenzhen component dropped 1.601% to 11,568.17. Hong Kong’s Hang Seng index rose […]

The numbers behind India and Australia’s $100-billion trade target

India and Australia signed an interim free trade agreement on April 2. The India-Australia Economic Cooperation and Trade Agreement “provides zero duty exports to 100% tariff lines from India to the Australian market, benefiting labour-intensive sectors besides providing greater access to services space through liberalised visa norms for students and professionals, including quota for Indian […]

Russia-Ukraine conflict starts to affect China-Europe trade

Chinese traders and logistics service providers have been ramping up efforts to cope with the rapidly evolving situation in Europe, as the Russia-Ukraine conflict raised concerns over potential impact on certain aspects of the China-Europe freight train and shipping routes by sea and air. While the actual impact remains unclear given the fast changing developments, […]

US accuses China of failing to meet free-trade agreements

The United States has accused China of failing to meet its commitments to the World Trade Organization (WTO) and says it is exploring new ways to combat aggressive Chinese trade practices. In its annual report on Chinese compliance with WTO rules, the Office of the US Trade Representative said Wednesday that China isn’t keeping the […]

China’s tech giants push toward an $8 trillion metaverse opportunity — one that will be highly regulated

Imagine this: the metaverse with Chinese characteristics. That’s how the virtual world that everyone’s talking about will likely look in the world’s second-largest economy. China’s technology giants are beginning to invest in the metaverse — the latest buzzword in internet technology. It’s a term with no concrete definition, but largely taken to mean virtual worlds that […]

Are tech giants ‘sunsetting’? Strategists warn of big tech under pressure

Investors looking to put money into U.S. and China internet giants should be cautious as these companies are facing a myriad of challenges, strategists told CNBC. Investment bank Macquarie said large consumer tech companies like Facebook and Amazon are in the “sunsetting” phase… To read more: https://www.cnbc.com/2022/02/14/us-china-tech-giants-under-regulatory-pressure-competition.html?__source=iosappshare%7Cnet.whatsapp.WhatsApp.ShareExtension SOURCE: CNBC

India GDP to grow 9.2%, estimated at ₹147.5 lakh cr in FY22: MoS Finance

India’s gross domestic product (GDP) is projected to grow at 9.2% to ₹147.5 lakh crore for the current financial year ending March 2022, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply to a query in the Lok Sabha, Chaudhary said the government has implemented several major reforms in recent years to boost […]

IMF cuts India’s GDP forecast to 9 per cent in FY22

The International Monetary Fund (IMF) has cut India’s economic growth forecast to 9 per cent for the current fiscal year ending March 31, joining a host of agencies which have downgraded their projections on concerns over the impact of a spread of new variant of coronavirus on business activity and mobility. Read more at:https://economictimes.indiatimes.com/news/economy/indicators/imf-cuts-indias-gdp-forecast-to-9-per-cent-in-fy22/articleshow/89119752.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst SOURCE: […]

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