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The US dollar fell on Wednesday and was on track to record its largest annual loss since 2017, with scope for further declines, as investors bet that the Federal Reserve will have room to cut interest rates more aggressively next year, while most other major central banks are seen as having largely завершed their easing cycles. Strong US gross domestic product data released on Tuesday failed to alter interest-rate expectations, with investors continuing to price in around two additional rate cuts by the Federal Reserve in 2026. David Mericle, chief US economist at Goldman Sachs, said: “We expect…
China said on Wednesday it would hit back against the latest US tariffs targeting its semiconductor sector.On Tuesday, the Office of the United States Trade Representative said it would raise the tariffs on June 23, 2027, with the level to be announced at least 30 days in advance.It followed the release of the findings of a year-long probe into China’s chip sector, launched in the final month of the Joe Biden administration.The office said Beijing’s push to dominate the sector was “unreasonable and discriminatory” and posed an economic threat to the US.“China firmly opposes the US abuse of tariffs and…
DP Technology – the developer of a suite of AI tools used by researchers for work spanning drug design to battery development – has raised more than 800 million yuan (US$114 million) in Series C financing to expand research and development (R&D) and hire talent.The Beijing-based AI-for-Science (AI4S) start-up said on Wednesday that the round drew backing from a mix of state-linked and venture investors, including Fortune Venture Capital, Beijing Jingguorui Equity Investment Fund, Beijing Artificial Intelligence Industry Investment Fund, Beijing Pharmaceutical and Health Industry Investment Fund, Lenovo Capital and Incubator Group and Oriza Hua.The funding would be used primarily…
The Chinese military has simulated battles near Mexico and Cuba during a wargaming exercise – a rare insight revealed in a report on state television.Cuba, the Gulf of Mexico and the Caribbean Sea, along with the Sea of Okhotsk and Taiwan, were among the locations of conflict scenarios visible on screens in a CCTV report on Friday showing People’s Liberation Army wargaming exercises.Despite closer economic ties with countries in the region, China has a minimal military presence in Latin America. But the fact that the PLA is modelling potential conflicts there suggests a shift in the Chinese military’s global ambitions.One…
A senior resident doctor at a government hospital in Shimla, the capital of India’s northern state of Himachal Pradesh, has been suspended and charged by police after a viral video appeared to show him repeatedly striking a patient inside a ward, triggering an investigation and widespread public backlash.The mobile phone footage, filmed by an attendant at the Indira Gandhi Medical College and Hospital on Monday and widely shared on social media, shows a masked doctor punching a man lying on a bed, while another staff member appears to restrain the patient’s legs as he tries to fend off the blows.Police…
After months of operating in the dark, markets finally received some inflation data last week. The long-delayed November Consumer Price Index offered an official glimpse into day-to-day price pressures after a record-length government shutdown had disrupted the economic calendar. The figures themselves were better than expected. Headline inflation came in at 2.7% year on year, while core inflation registered 2.6%. That was below the near-3% readings economists had been bracing for, and it kept inflation within the psychologically important “two-handle” range that markets have become fixated on heading into 2026. At the same time, the report was far…
In an effort to further promote the internationalisation of China’s currency, Beijing has pledged to expand the use of its digital yuan, including by establishing a cross-border payment pilot with Singapore.The measures, announced by the People’s Bank of China on Wednesday, are tied to a broader financial support plan for China’s New International Land-Sea Trade Corridor – a trade and logistics network, launched in 2017, that links landlocked cities in western China with hundreds of global ports via rail, road and shipping connections.The PBOC, along with seven other government ministries and agencies, vowed to support the “exploration of pilot programmes…
US private equity firm Warburg Pincus and India’s Bharti Enterprises will together purchase a 49% stake in appliance maker Haier India, the companies said on Wednesday, giving them a foothold in the country’s fast-growing electronic appliances market led by Samsung and LG. The stake will be bought from China’s Haier Group, which currently owns the unit. Haier will retain a 49% holding after the deal, while employees will own the remaining 2%. While relations between India and China have cautiously improved in recent months, Chinese investments in Indian firms remain subject to regulatory scrutiny and approval. The companies did not…
Taipei Mayor Chiang Wan-an has cut short his planned visit to a joint forum in Shanghai to better focus on security concerns following a deadly stabbing incident in the Taiwanese city last week.Chiang was originally scheduled to attend the Shanghai-Taipei City Forum over Saturday and Sunday. He will now only fly over for the main forum on Sunday morning before returning to Taipei to oversee heightened security operations, according to a press release from the municipal government on Tuesday.The Shanghai-Taipei City Forum has been held annually since 2010 and remains one of the few events attended by officials from both…
In a key development, Fauji Fertilizer Company Limited (FFC) on Wednesday said it has decided to join the bidding consortium led by Arif Habib Corporation Limited (AHCL) for the acquisition of a 75% stake in Pakistan International Airlines (PIA). The development comes a day after the consortium emerged as the highest-ranked bidder with a Rs135 billion offer for a 75% stake. “We wish to inform you that the Board of Directors of the company, at their meeting held earlier today, have approved and authorized the company to join the bidding consortium, led by Arif Habib Corporation Limited, and comprising of…