China
China's mobile gaming market reports revenue growth in Jan
According to Xinhua news agency, the sales revenue of the market reached about 22.24 billion yuan (about $3.51 billion) last month, up 17.76 per cent year on year, said a report released by CNG, a research institute on the gaming industry. The revenue also increased 20.25 per cent from December 2021, the report said.
Gems, jewellery industry converted Covid crisis into opportunity: Piyush Goyal
Union Commerce Minister Piyush Goyal said on Friday that the Indian gems and jewellery industry has converted the Covid crisis into an opportunity. Goyal was speaking at a virtual event organised by the Gem and Jewellery Export Promotion Council (GJEPC). Goyal assured that the government will continue to support the industry's vision in driving this sector to "new heights".
US, China face-off in Nepal over $500 mn US grant
Earlier this week, after Nepal delayed in ratifying the US aid in the Parliament, a senior US State Department official had warned that the US will force a review of its ties with Nepal if Kathmandu fails to ratify the grant under the Millenium Challenge Corporation. And now Kathmandu is witnessing violent protests everyday, particularly by Communist parties, against the American aid.
Volkswagen 'acquiring' Huawei's autonomous driving unit for billions of dollars
According to Germany's Manager Magazin, Volkswagen and Huawei are negotiating a "billion-dollar deal in China". Volkswagen promises "unconventional solutions" for its new market China and "maybe taking over a Huawei subsidiary will help. The talks are ongoing," the report said on Thursday. Huawei and VW China did not immediately comment on the report.
China expresses concern over India's decision to ban its apps, asks New Delhi to ensure ‘non-discriminatory’ policies for foreign investors
“…relevant Indian authorities have taken a series of measures to suppress Chinese companies and their products in India, which have seriously damaged the legitimate rights and interests of Chinese companies… China expressed serious concern about this,” Commerce Ministry spokesperson Gao Feng said. He also expressed concerns about the investment regime in India.
India set for stronger tech, media & telecom IPOs as China falters
While new regulations have severely hit China in the global tech, media & telecom (TMT) IPO market, the Indian TMT IPO pipeline is getting stronger and will continue to gain prominence this year, a new report showed on Friday. Between 2018 and 2020, there were 15 TMT IPOs in India. Last year alone, 15 Indian TMT companies went public and raised a total proceeds of $4.8 billion, reveals data and analytics company GlobalData.
Biden allocates $5bn for EV charging network amid China threat
The US Congress has approved $7.5 billion for EV charging infrastructure as part of the bipartisan infrastructure law, $5 billion of which will be available to states to create a "network of EV charging stations along designated Alternative Fuel Corridors, particularly along the Interstate Highway System", the administration said late on Thursday.
China faces Covid blues as Lunar New Year sales fall
Stringent Covid-19 induced restrictions created confusion among people forcing them to opt for short distance trips. Just ahead of the festive week, several local authorities imposed travel restrictions which included mandatory quarantines. This has not only impacted consumption around this otherwise busy time of the year but has also had an impact on the country's tourism sector.
China-backed Pak being set up as challenger to India in auto components, textiles
"Of course, some may argue that there is still a considerable gap between India and Pakistan in terms of manufacturing strength, but with the improved BRI connectivity as well as the steadily growing investments by Chinese companies in Pakistan, the South Asian nation is well poised for a rapid facelift," the Global Times said in a report.
Sri Lanka, China contaminated fertiliser row continues to fester as Qingdao doubles price
Agriculture Minister Mahindananda Aluthgamage told Sri Lankan newspaper Daily Mirror that the government plans to import Chinese fertiliser from the same company if new fertiliser samples are found to be fit. The country is still awaiting new samples for evaluation from Qingdao. Daily Mirror quotes Aluthgamage as saying: "If the samples of newly dispatched fertiliser found to be contaminated, we have no hesitation whatsoever to reject it too".
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