China
Indian goods and services exports set to cross $760 bn in 2022-23: Piyush Goyal
Addressing the industry body Assocham's annual session, Goyal said that in 2021-22, the country's goods and services exports touched an all-time high of $422 billion and $254 billion respectively, taking the total shipments to $676 billion. "There's obviously much faster growth in services, but growth in both (merchandise and services exports) is good. Probably we will end the year with about $760 billion (in exports), if not more," Goyal said.
Alibaba founder Jack Ma seen in China after long absence
The 58-year-old has kept a low profile since criticising China's financial regulators in 2020. Ma was the most high-profile Chinese billionaire to have disappeared amid a crackdown on tech entrepreneurs, the BBC reported. He recently returned to China after more than a year overseas, according to the South China Morning Post.
China makes surprise rate cut to boost liquidity in banking system
The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for almost all banks by 0.25 percentage points, effective March 27, CNN reported. "(We must) make a good combination of macro policies, better serve the real economy, and maintain reasonable and sufficient liquidity in the banking system," the PBOC said in a statement.
Need to create quality consciousness in country: Piyush Goyal
In his address on the occasion of World Consumer Rights Day, he said: "We should work towards creating quality consciousness in the country and win the confidence of our customers." Goyal also said that "people want high quality in services and products and that it is their right. Today is a day of celebration of this right and it is a day to commit ourself to work towards ensuring that quality and service".
India to achieve $750 billion of exports in 2022-23: Piyush Goyal
Goyal said this on Monday while addressing the CII Partnership Summit in the national capital. The three-day summit got underway on Monday. "Sustainability has been at the core of G20 agenda for several years now, the core of all multilateral and bilateral engagements over the last few years, but for India, sustainability is a way of life," he said.
India-US goods & services trade doubled since 2014, surpasses $191 bn in 2022
Co-chaired by Goyal and Raimondo, the commercial dialogue is a part of ongoing efforts to strengthen US-India Comprehensive Global Strategic Partnership. Raimondo attended the meeting before leaving for the US on Friday. She had arrived in India on March 7 at the invitation of the Indian government.
Pakistan expects $1.3 bn in financing from China's ICBC in coming days
"All our formalities with the ICBC are complete as of last night. We returned them $1.3 billion in the last few months... They are giving it back and have renewed this facility," Dar said, adding that it is possible that $500 million will come in the next few days -- by Monday or Tuesday -- and a further $500 million within 10 days, Dawn reported.
China leading US in tech race: Report
China leads in 37 of 44 technologies tracked in a year-long project by thinktank the Australian Strategic Policy Institute. The fields include electric batteries, hypersonics and advanced radio-frequency communications such as 5G and 6G, the Guardian reported. The report said the US was the leader in just the remaining seven technologies such as vaccines, quantum computing and space launch systems.
Piyush Goyal: India can touch up to $40-trillion economy by 2047
Referring to the peculiar dynamics in Asia where there are economies which are both democracies and authoritarian, the Minister said that now India is clearly considered as the country of the decade, if not the country of the 21st century, in view of our strong macroeconomic fundamentals and the reforms of the past few years.
Chinese city pours $29 bn to build chips as India, US eye semiconductor dominance
Guangzhou's Industry Investment Fund of Funds (FoF) will focus on activities involving semiconductors, renewable energy and advanced manufacturing, reports the South China Morning Post. Meanwhile, the city's Innovation Investment Fund of Funds will target financing for early-stage hi-tech companies. "The city's funding effort would appear to raise the stakes for China.
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