Author: admin

MUMBAI: The latest conflict between India and Pakistan may impact New Delhi’s efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil – but not much, investors and analysts said on Wednesday, as tensions ratcheted up between the nuclear-armed neighbours. India’s $4 trillion economy has limited direct trade with Pakistan, and even its overnight cross-border missile strikes had little immediate impact on local equity, currency and bond markets, on the view that full-fledged conflict is unlikely. “If there is a cessation of hostilities like there should be, pragmatically and practically, the investment climate may not…

SCHIAVON, Italy (AP) — Conclave watching turned out to be a perfect aperitivo activity.Caffè Centrale, on the main drag of the Veneto hometown of Cardinal Pietro Parolin, a papal favorite, filled up with locals and journalists awaiting the first sign of smoke on Wednesday.A large TV screen displayed images from St. Peter’s Square and the chimney atop the Sistine Chapel, where 133 cardinals were casting the first votes for pope, as locals in the Veneto town of Schiavon, near Vicenza, quaffed glasses of wine.“We’re waiting, and we’re rooting for him,’’ said Giacomo Bonora, raising a glass of the local favorite,…

VATICAN CITY (AP) — Cardinals are meeting in a secret, sacred conclave for a second day as they seek a new pontiff to follow Pope Francis. The conclave opened at the Vatican on Wednesday afternoon but a first round of voting resulted in black smoke billowing from the Sistine Chapel. The 133 cardinals who are eligible to choose the next pontiff are trying again Thursday to elect a successor to Francis to guide the 1.4 billion strong Roman Catholic church at time of human upheaval. Here are some things to know about the election of the 267th pontiff of the…

VATICAN CITY (AP) — Cardinals return to the Sistine Chapel on Thursday to resume voting for a new pope after the first conclave ballot failed to find a winner, sending billowing black smoke through the chapel chimney.Some of the 133 voting cardinals had said they expected a short conclave to replace Pope Francis. But it will likely take a few rounds of voting for one man to secure the two-thirds majority, or 89 ballots, necessary to become the 267th pope.For much of the past century, the conclave has needed between three and 14 ballots to find a pope. John Paul…

LONDON (AP) — Even if the end of World War II in Europe spawned one of the most joyous days the continent ever lived, Thursday’s 80th anniversary of V-E Day is haunted as much by the specter of current-day conflict as it celebrates the defeat of ultimate evil.Hitler’s Nazi Germany had finally surrendered after a half-decade of invading other European powers and propagating racial hatred that led to genocide, the Holocaust and the murdering of millions.That surrender and the explosion of hope for a better life is being celebrated with parades in London and Paris and towns across Europe while…

Beijing is allocating tens of millions of US dollars in subsidies to stimulate growth in the city’s artificial intelligence (AI) supply chain, using entirely domestic technologies, as China invests heavily in its technological self-reliance drive.The Yizhuang Development Zone, also known as the Beijing Economic and Technological Development Zone, said on Wednesday it aimed to establish a nationally leading AI industry ecosystem valued at 80 billion yuan (US$11 billion) by the end of this year, according to a plan shared on its official WeChat account.The ecosystem would rely only on Chinese semiconductors, operating systems and open-source software frameworks to ensure self-sufficiency…

Mainland China-listed firms are flocking to Hong Kong for new share offerings, driven by attractive valuations, strong liquidity and supportive policies, with Contemporary Amperex Technology’s (CATL) deal poised to be the biggest of the year.Shenzhen-listed CATL, the world’s largest producer of batteries for electric vehicles, is gauging investor interest for its estimated US$5 billion share float this week after receiving approval from the Hong Kong stock exchange’s listing committee on Tuesday. The share sale would be the city’s largest since Kuaishou Technology raised US$6.2 billion from its initial public offering (IPO) in January 2021.CATL is among the 30 A-share companies…

Mainland China-listed firms are flocking to Hong Kong for new share offerings, driven by attractive valuations, strong liquidity and supportive policies, with Contemporary Amperex Technology’s (CATL) deal poised to be the biggest of the year.Shenzhen-listed CATL, the world’s largest producer of batteries for electric vehicles, is gauging investor interest for its estimated US$5 billion share float this week after receiving approval from the Hong Kong stock exchange’s listing committee on Tuesday. The share sale would be the city’s largest since Kuaishou Technology raised US$6.2 billion from its initial public offering (IPO) in January 2021.CATL is among the 30 A-share companies…

Pakistan has claimed it used Chinese-made J-10C fighter jets against India’s air force in a brief military encounter on Wednesday.Pakistani Prime Minister Shehbaz Sharif and the country’s military said five Indian aircraft had been shot down in the latest armed conflict over Kashmir and other disputed regions along the South Asian neighbours’ border.India has yet to comment on the claim.Ishaq Dar, Pakistan’s foreign minister, separately told parliament that it was J-10C jets that shot down the Indian warplanes, with the five including three Rafale fighter jets.“Our jet fighters … shot down Indian Rafales, three Rafales [that] are French,” said Dar.…

The euro fell in European trade on Wednesday against a basket of major rivals, on track for the first loss in four days against the US dollar on growing concerns about the political situation in Germany after a difficult vote for the new German Chancellor Friedrich Merz.   Later today, the important Federal Reserve’s policy meeting is expected to provide clues on the path ahead for US interest rates.   The Price   The EUR/US price fell 0.35% today to $1.1325, with a session-high at $1.1374.   On Tuesday, the pair rose 0.45%, the third profit in a row as…