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BEIJING: When Kris Lin, who owns a lighting factory in China, received this year's first order from a close overseas client, he faced a distressing choice: Take it at a loss, or tell workers not to come back after the Lunar New Year. "It was impossible for me to lose this order," said Lin, who plans to res
When Kris Lin, who
owns a lighting factory in China, received this year s first
order from a close overseas client, he faced a distressing
choice: take it at a loss, or tell workers not to come. -February 04, 2024
- MarketScreener
Profits at China's industrial firms fell 2.3% in 2023, their second straight yearly decline, due to sluggish demand at home and abroad, adding pressure on economic growth amid a deep property slump and deflationary risks, reports Reuters. The drop followed a 4.4% profit fall in the first 11 months from the same period a year…
Today's news: An archaeological report finds that the Varanasi mosque in India was allegedly built on the ashes of a Hindu temple; Chinese industrial profits fell by 2.3% in 2023; The director of the WHO described conditions in Gaza as 'hellish'; General strike in the Gilgit-Baltistan region of Pakistan over rising wheat prices; Vladimir Putin visits the Russian exclave of Kaliningrad on Polish territory on 'Russian Students' Day' (Tatjanin Den). Malaysia increases water tariffs.