CHINAS GENERAL ADMINISTRATION OF CUSTOMS
FMCG is “passe”: Indian economy has a new definition of defensive stocks: 8 stocks from 2 sectors with upside scope of up to 37%
On the day of election results were announced and the whole stock market melted, stocks from one sector were able to gain, that was FMCG. Many theories were floated about why they are doing well. Right from them being defensive stocks to that focus would not shift from investment to consumption. But close to a month down the line, all those stocks are once again in the under performance mode. The fact is before deciding on whether the stocks are defensive or not, some questions need to be asked. A stock which was a defensive stock in 1994 when the Indian economy was just opening is still a defensive stock even in 2024 when we are a whole different economy with different needs and consumption patterns.
China's crackdown on 'wealth-flaunting' social media puts pressure on influencers to echo the party line
Chinese regulators crack down on social media influencers flaunting wealth, contrasting with US mental health concerns. The campaign targets extravagant displays, reflecting wider fears of subversive views. Public support for authoritarian measures shapes the crackdown, including pressure on Taiwanese influencers. The effort aligns with China's goal of managing its vast online population under President Xi Jinping's watchful eye.
HDFC ERGO General Insurance elevates Anuj Tyagi as MD and CEO
HDFC ERGO General Insurance promoted Anuj Tyagi as the new managing director and chief executive, succeeding Ritesh Kumar effective July 1. Tyagi, with the company since 2008, previously served as joint managing director. Kumar will transition to ERGO International's board and become the deputy COO focusing on Asian growth markets. The appointment is pending approvals.
China’s exports surge more than expected in boost for economy
Beijing is relying on sales abroad to offset weak consumer spending at home, where a real estate slump has led households to tighten their belts.
CBIC starts electronic disbursal of duty drawback to exporter's bank accounts via PFMS
CBIC introduces electronic disbursement of duty drawback amounts to exporters' bank accounts via PFMS platform, enhancing transparency, efficiency, and global trade facilitation standards.
How China rose to lead the world in cars and solar panels
Heavy subsidies for industry, together with weak sales in China, have set the stage for an export boom, raising fears of factory job losses elsewhere
CBIC issues instructions for initiating early GST recovery
The CBIC has authorized Principal Commissioners or Commissioners to demand GST dues within three months of a demand order if necessary for revenue. Generally, recovery starts post the three-month period, but early recovery can be initiated if justified in writing by the proper officer. This move aims to balance revenue protection and business ease, enhancing transparency and predictability in tax administration.
Very strong relations with India; co-producing armored vehicles: US Defence Secretary Lloyd Austin at Shangri La Dialogue
At the Shangri La Dialogue in Singapore, US Defence Secretary Lloyd Austin praised the strong US-India relationship. He talked about advancements in co-producing armoured vehicles and fighter jet engines. He emphasised the shared values between the two nations and predicted continued progress and momentum in the partnership. The strong ties are important for the two countries amid trouble in the Indo-Pacific region.
Chinese firms turn from ‘Panda’ to ‘Skunk’ as US tensions flare
Chinese investments in the US have trailed behind smaller economies like Spain and Singapore in recent years, according to the US Bureau of Economic Analysis.
Boeing now sees negative free cash flow in 2024 as deliveries remain sluggish
Boeing will burn rather than generate cash in 2024 and deliveries aren't expected to increase in the second quarter, the company's finance chief said Thursday, as the U.S. planemaker grapples with a full-blown crisis that is weighing on production of its strongest-selling aircraft.
'NASA-type' NSA: Why India's next National Security Adviser should be a space scientist
If the Government of India decides to appoint a new National Security Adviser (NSA) in June, it should consider someone outside the traditional choices of diplomats or spymasters. The role of the NSA should be more like the American model, focusing on coordination between security-related government wings. India's previous NSAs have varied in their approaches, with some acting more like deputy prime ministers. A space scientist could bring a fresh perspective, especially considering India's advancements in space technology and the strategic importance of space in defense and telecommunications.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
Biden's new China tariff wall faces leakage via Mexico, Vietnam
U.S. officials and trade experts say that without strong efforts to cut off transshipped or lightly processed Chinese goods from Mexico and other countries, China's underpriced excess production will still find its way into U.S. markets.
How China rose to lead the world in cars and solar panels
Top leaders in the United States and Europe have started urging China to reduce its exports to the world and boost its imports.
China's exports of rare earths dip slightly in April
The country accounts for nearly 70% of the global rare earths mining, as per the United States Geological Survey.
China trade beats expectations in April
Chinese exports returned to growth last month while imports smashed expectations, data showed Thursday, providing a much-needed boost to the country's leadership as it tries to steer the economy out of a long-running slump. Meanwhile, imports surged 8.4 percent, far better than the 4.7 percent estimated in the Bloomberg survey, providing hopes that demand in the world's number two economy could be improving.
Saudi Aramco says Q1 profit down 14.5 percent
Oil giant Saudi Aramco said Tuesday its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place. Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same period in 2023, Aramco said, adding that "the decrease was primarily a result of lower crude oil volume sold".
Limits to Russia-China strategic partnership
Russian Foreign Minister Sergey Lavrov's recent visit to China raised eyebrows about the depth of the Beijing-Moscow alliance. Despite appearances, the partnership is more complex than a simple embrace. Russia lacks a formal military alliance with China, maintaining a strong military partnership with India instead. Recent deliveries of warships and Igla-S systems to India underscore this relationship, enhancing India's air defense capabilities. Russia should tread carefully with China, which aims to become the dominant partner, a prospect Moscow finds uncomfortable.
China's Xi says economic recovery 'still at critical stage'
Xi urged measures to boost the economy, saying that "the development situation facing the country is complex, with increasing adverse factors in the international political and economic environment".
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