ASIA: Indian economy is expected to expand 8.3 percent in fiscal year 2021-22, a report by World Bank projected on Tuesday. In its latest issue of Global
ASIA: The US and China's top trade negotiators have held "candid, pragmatic" talks, in their first meeting under the Biden presidency. US Trade Representative
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China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading. Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrencies, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday. China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.
Domestic sales of gasoline and diesel by Indian state refiners plunged by a fifth in the first half of May from a month earlier as lockdowns to curb coronavirus infections hit industrial activities and consumption, preliminary data showed on Monday. Indian fuel demand had recovered to near pre-COVID levels in March but has been declining since April given restrictions amid a staggering spike in infections
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The mainland China share market finished the session lower on Thursday, May 13, 2021, amid bearish sentiment stemming from rising US inflation and concern to bring forward monetary stimulus tapering, an online business daily reported. Meanwhile, weaker than expected new loan data for April and Sino-U. S. tensions also weighed down sentiments. At the closing bell, the benchmark Shanghai Composite Index declined 0.96%, or 33.22 points, to 3,429.54. The Shenzhen Composite Index, which tracks stocks on China’s second exchange, dropped 0.81%, or 18.51 points, to 2,253.30. The blue-chip CSI300 index fell 1.02%, or 51.58 points, to 4,992.97.
Indian inflation eased to a three-month low in April as food costs rose more slowly, but lockdowns to contain the country’s raging coronavirus epidemic risk creating supply bottlenecks that could fuel price pressures in coming months. Annual retail inflation rose 4.29%, down from 5.52% in March and near the 4.20% forecast in
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China has “indefinitely” suspended key economic dialogue with Australia, the latest in a growing diplomatic rift between both countries. The relations between two countries have been on the decline since Australia called for a probe into the origins of the virus and banned Huawei from building its 5G network. In a statement on Thursday, a Chinese government commission accused Australia of having a “Cold War mindset”. Last year, China imposed sanctions on Australian goods like wine and beef.
Growth in India’s dominant services sector eased to a three-month low in April but remained unexpectedly resilient even as the COVID-19 crisis intensified and cost pressures rose at the fastest pace in over nine years, a private survey showed. The Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 54.0 last month from 54.6 in March, its lowest since January but still well above the 50-mark separating growth from contraction. A Reuters poll expected t