China
European firms increasing investment in China after Covid
The proportion of European companies planning to expand China operations in 2021 jumped to nearly 60 per cent from 51 per cent last year, as per the report on Tuesday, citing a survey by the European Chamber of Commerce. About half of the 585 surveyed respondents reported higher profit margins in China than their global average, while the proportion was 38 per cent last year, Xinhua reported.
Europe approves SK hynix's acquisition of Intel's NAND biz
SK hynix said late on Friday that it received unconditional clearance from the European Commission for its takeover of Intel's non-volatile memory unit. Last October, SK hynix signed a deal to buy Intel's NAND business for $9 billion, which includes the US firm's solid state drive business and a NAND flash chip plant in Dalian, China.
Bitcoin tumbles after China warning
Bitcoin was last down 12 per cent to $38,180, setting a fresh low for the past 24 hours of $36,219 in a month that has left the No 1 cryptocurrency 31 per cent lower. Bitcoin hasn't traded below the $40,000 level since early February and is roughly 40 per cent below a mid-April record high of $64,829, the report said.
Number of multi-millionaires in Hong Kong reaches new high
A multi-millionaire is defined as a person with a total net worth of 10 million HK dollars (about $1.28 million) or more and at least 1 million HK dollars in current assets, according to the bank, Xinhua news agency reported on Thursday.
China's coal generation rises, India sees a decline: Study
Globally there was a record fall in coal generation in 2020, which was mirrored in India and other top coal power countries. China is now responsible for more than half (53 per cent) of the world's coal-fired electricity.
Pandemic, investment curbs help India reduce trade deficit with China
As per official data, India's trade deficit with China declined by 19.39 per cent from $56.95 billion in 2019 to $45.91 billion in 2020. The decline had largely been supported by all-time high levels of exports of goods and services by India.
China becomes EU's biggest trade partner in 2020
According to the EU's statistical service, the bloc's imports from China throughout the year 2020 grew by 5.6 per cent year-on-year to 383.5 billion euros (US $465 billion), and exports grew by 2.2 per cent to 202.5 billion euros.
30 Chinese mobile games raked in $9.24B in 2020, PUBG leads
The top 30 profitable Chinese mobile games raked in $9.24 billion from the App Store and Google Play last year, up 47 percent year on year from $6.3 billion in 2019, the firm said. A total of 37 Chinese mobile games became earners of more than $100 million in overseas markets, 12 more than in 2019.
Chinese brands commanded 75% of India’s smartphone market in 2020: Report
The excellent growth registered by Chinese brands comes even as the armies of India and China continue to face military standoff along Line of Actual Control (LAC) in Ladakh. According to the report, Chinese smartphone brands saw a growth of 4% and the share is at 75% which is higher than 71% in 2019.
Budget 21-22 must set aside threat for India becoming dumping ground for global Al scrap
India has overtaken China as the world's largest importer of aluminum scrap, and the country has been adversely impacted due to recent global developments and US-China trade war further fuelled by China's National Sword Policy measures to cut Scrap Imports substantially with stringent scrap standards and inclusion in restricted list of imports, government quota for import, and 25 per cent tariffs aluminium Scrap imports from USA.
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