Beijing: – The ruling Communist Party has initiated inquiries against the country’s leading banks in the wake of the bankruptcy crisis in Evergrande, China’s leading real estate company. This includes the central bank of China as well as the leading state-owned banks known as the ‘Big Four’. Loans to private companies, including government enterprises in China, […]
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Beijing: – Analysts and the media are warning that the ongoing power shortage in China will have a major impact on the global economy. More than 20 provinces in China are facing severe power shortages, and supply to thousands of companies and factories has been reduced. As a result, the manufacturing sector has been hit […]
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Moscow/ Beijing: The Chinese Communist Party, which boasted about becoming a superpower, had to rush to Russia to overcome the power outage problem. China has demanded that the electricity supply must be doubled via Amur-Heihe Electric Transmission Line. A Russian company has backed this demand and decided to supply electricity to China from 1 October. Over the last few […]
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Washington/Taipei – US economist Jeff Ferry said that Taiwan’s leadership in the technology-intensive semiconductor industry and its policy should be exemplary in boosting the US industrial sector. Ferry also warned that the US has lagged by focusing only on businesses in the financial sector. The emphasis should be on strengthening the manufacturing sector, like Taiwan, […]
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Washington/Beijing – Ron Insana, an analyst from the United States, has warned that the crackdown on its own big companies by the Chinese ruling communist regime could undermine China’s position as an economic superpower. China is the world’s second-largest economy, and the ruling communist regime is threatening the “business model” that led to its rise, […]
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Colombo – Sri Lanka, which has borrowed heavily from China, faces a massive financial crisis. Sri Lanka’s foreign exchange reserves have fallen sharply, with only three months’ worth of foreign reserves remaining. This has led Sri Lanka to impose restrictions on imports of various commodities. According to some reports, Sri Lanka also has no money […]
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Beijing: – China, which was boasting as the only economy to progress even during the Coronavirus pandemic, has started receiving fresh jolts. For the last few months, the number of defaulter companies is on the rise, and as per indications, some of these companies could declare bankruptcy. At the same time, the profitability of the […]
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New Delhi: – The Minister of State for Finance, Anurag Thakur, said it is clearly visible that the Indian economy is rising again, leaving the Coronavirus crisis behind. In February, foreign institutional investment in the country stood at around Rs 25,787 crore. Citing this, the Minister of State for Finance expressed confidence that the country’s […]
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Washington: The International Monetary Fund (IMF) praised India saying that India took decisive steps while countering the Coronavirus crisis and its economic repercussions. Kristalina Georgieva, the chief of the IMF, said that India was ahead of the developing countries on this front while appreciating India. The IMF will be publishing its report on the 26th […]
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Tokyo: The Japanese economy has been hit by the severe recession because of the Coronavirus pandemic, which is rampaging around the world. Japan is the first of the top three economies of the world to be hit by a recession. It is being said that the Coronavirus pandemic has resulted in the loss of nearly […]
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