New York: Foreign direct investment (FDI), a bellwether of globalisation and economic confidence, fell by 49 per cent to $399 billion in the first half of 2020, amid the upheaval caused by the coronavirus pandemic, a new report from the UN trade and development organization UNCTAD showed on Tuesday.
New Delhi/IBNS: In a shocker for India, the financial condition of which has taken a beating due to Coronavirus pandemic, the International Monetary Fund (IMF) has forecasted that the per capita Gross Domestic Product (GDP) of the Asian giant could trail behind its neighbour Bangladesh this year.
Male: Maldives may soon scrap Free Trade Agreement (FTA) with China to protect its trade relationship with other countries, media reports said.
Tokyo/IBNS: Japan has said it will give subsidies to its manufacturers who shift base from China to India or Bangladesh, as part of its plans to diversify supply chains, media reports said.
New Delhi/IBNS: Indian state-owned refiners have stopped importing crude oil from China-linked companies, a Reuters report said, adding that the development is linked to the restrictions imposed by New Delhi on imports from countries it shares common borders.
New Delhi/IBNS: Goods from several US companies made in China, including those from Apple, Dell and Cisco, are held up in Indian ports amid heightened border tension with China, said a Reuters report.
Mumbai/IBNS: Amid the growing anti-China sentiment and call for boycott of Chinese goods in the country, the Maha Vikas Aghadi government has frozen three Chinese projects worth Rs. 5,000 crore, media reports said.
Mumbai/IBNS: As the anti-China sentiment is growing massively in India following the standoff between the soldiers of the two nations in the border, mobile phone company Oppo cancelled the live launch of its 5G phone in the South Asian country, media reports said.
Mumbai/IBNS: Only Singapore and China, out of top 25 destinations of India's engineering exports, could manage a positive year-on-year growth in April, 2020 while the rest conceded massive contraction up to 91 per cent in some cases, due to a hugely disruptive impact of Covid-19, an EEPC India analysis has shown.
New Delhi/IBNS: Union minister Nitin Gadkari has said Indian manufacturers can take advantage of the current anti-Chinese sentiments by manufacturing items for which India is largely dependent on Chinese imports, media reports said.
Beijing/Xinhua/UNI: China's telecommunications industry registered a slight growth in the first quarter, official data showed.
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI) has sought information from the custodians on details of Chinese investments or money routed through the country into Indian stock markets, said a Mint report.
New York/IBNS: The world economy will go into recession this year with a predicted loss of global income in the trillions of dollars, causing serious trouble for developing countries, with the likely exception of China and the possible exception of India, as per a UN trade report released on Monday.
Beijing/Xinhua/UNI: China will see large-scale investment in 5G infrastructure as relevant standards mature and upstream hardware further improves, said a report published Wednesday by S&P Global (China) Ratings, a wholly-owned subsidiary of S&P Global Inc. registered in Beijing.
Tokyo/Sputnik/UNI: Japanese automobile giant Toyota on Tuesday lifted a shutdown at its third out of four plants in China, which was shut down over novel coronavirus fears, media reported.