China
China rebooting Mao-era institution to prepare for decoupling from global economy
Heralding a major step away from the market-oriented economic policies of the last 40 years, the 20th Chinese Communist Party Congress earlier this month saw the elevation of Liang Huiling, who heads a state-run system of 'supply and marketing cooperatives', to the party's Central Committee, amid other signs that leader Xi Jinping is steering the country away from market economics and closer to a state-dominated economy, RFA reported.
Aim to achieve $100 billion textile exports in 5-6 years: Piyush Goyal
Goyal was virtually addressing a meeting of the members of Export Promotion Councils. He said that textile manufacturers should start securing cotton to meet their demands. "All those involved with the cotton industry should meet to discuss the strategy to ensure traceability of cotton and better value of the cotton products," Goyal said.
Totalitarianism finally hurting China's economic prospects
A violation of that rule would lead to forced disappearance and/or execution. There is no official record on death penalties in China as the single-party regime treats such information as "state secrets". However, unofficial evidence suggests that the country delivers maximum capital punishments of over 1,000 a year, followed by Iran, Egypt, Iraq, Saudi Arabia etc.
China shares slump in US as Xi starts 3rd term
Chinese technology giants Alibaba and Baidu fell by over 12 per cent in New York, the BBC reported. investors fear the world's second largest economy will be held back by its tough Covid-19 restrictions. One analyst said Beijing was in a "tug-of-war" between measures to boost growth and its zero-Covid policies.
Chinese LED lights swarm Indian homes this Diwali despite ban calls
Traders in China rushed to catch up for their last shipments and the orders remained strong, the report quoted industry insiders and experts as saying. An employee from Lulin Light Decoration, a local exporter for LED decors based in Taizhou, East China's Zhejiang province, told the Global Times that they started delivering festive products to Indian clients from April.
India at no. 3 on list of centi-millionaires, to overtake China by 2032: Report
Out of the world's 25,490 centi-millionaires, India has 1,132, beating countries like the UK, Russia and Switzerland, in a swift growing and powerful class of super-rich tech titans, financiers, multinational CEOs, and heirs.
China's holiday spending plunges to seven-year low on Covid curbs
The National Day break is one of China's longest public holidays and usually a peak season for travel and spending. But this year, people were deterred from travelling by a resurgence of the virus and stringent Covid restrictions. Lockdowns and other control measures have intensified in recent weeks, including in some popular tourist destinations.
India will give top priority to national interest in FTA negotiations: Piyush Goyal
The minister's statement came at a time when India and the UK are trying to finalise their FTA negotiations by Diwali. Goyal was speaking at a meeting held to review India's export performance in the first six months of this financial year, with key representatives from export promotion councils and industry associations.
India jumps to 40th place in global innovation index
"We were 46 last time the ranking was done. We have also maintained first rank in ICT services exports over the years," he said. Goyal said this while delivering a virtual message to mark the launch of the Global Innovation Index 2022 by the World Intellectual Property Organization (WIPO). The minister said that GII has established itself as a tool for governments across the world to reflect upon policies and their impact.
Boeing to pay $200mn to settle charges over misleading investors about 737 MAX
The crashes of Lion Air Flight 610 in October 2018 and Ethiopian Airlines Flight 302 in March 2019 involved the 737 MAX airplane and a flight control function called the Maneuvering Characteristics Augmentation System, reorts Xinhua news agency. According to the SEC's orders, after the first crash, Boeing and then Chief Executive Officer Dennis Muilenburg knew that system posed an ongoing airplane safety issue, but nevertheless assured the public that the 737 MAX plane was "as safe as any that has ever flown the skies".
Advertisement