Leaving the Belt and Road Initiative (BRI) also known as Silk Road does not compromise relations with China, but the decision still has to be taken, Italian Prime Minister Georgia Meloni said on Sunday, the Italian media, Corriere della Sera daily reported. On the sidelines of the G20 Summit, the Italian PM met Chinese Premier […]
Apple saw its shares tumble by nearly 4 per cent on Thursday, marking its most substantial one-day drop in over a month. The catalyst for this sharp decline was the emergence of reports indicating that China had extended restrictions on the use of iPhones by government personnel. The move sent shockwaves through the tech industry […]
India is monitoring steel imports after shipments from China touched a five-year high in the first four months of the fiscal year that began in April, the country’s steel secretary told Reuters on Monday. During April-July, China was the second-biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62 per […]
On Friday, the FTSE 100 exhibited further weakness, with London’s major retailers affected by disappointing retail data for July, as reported by the Office for National Statistics. Retail sales volumes fell by 1.2 per cent during the month due to adverse summer weather conditions. Consequently, leading high street companies like JD Sports, Frasers, and M&S […]
Lenovo Group, the PC maker, reported a 24 per cent fall in revenue for the April-June quarter, reflecting the continued impact of a global downturn in demand for personal computers. The company’s Q1 performance marks its fourth consecutive quarter of sales decline, as the tech giant grapples with economic challenges compounded by the ongoing COVID-19 […]
Apple’s upcoming iPhone 15, the next iteration of their smartphone, has commenced production in Tamil Nadu. This move is aimed at reducing the gap between their operations in India and their primary manufacturing hub in China. A facility operated by Foxconn Technology Group in Sriperumbudur is preparing to produce the latest iPhones shortly after they […]
Foxconn sees potential in India, the Taiwanese major is reportedly in talks for its willingness to invest “several billion dollars” in India, to diversify its manufacturing away from China, according to a media report on Wednesday. The investment plan was underlined by the Hon Hai Technology Group (Foxconn) Chairman and CEO Young Liu during the […]
According to government data released on Tuesday, China’s trade numbers decreased in July, an indication that the country’s economic recovery was dragging despite efforts by leaders in Beijing to boost development, according to the New York Times. After the United States, China has the second-largest economy in the world, and its exports have now plummeted […]
Global smartphone shipments declined 7.8 per cent on a yearly basis to 265.3 million units in the second quarter of 2023 (April-June), preliminary data from the International Data Corporation (IDC) showed. International Data Corporation (IDC) is a global market intelligence and advisory services provider. With this, it marks the eighth consecutive quarter of contraction as […]
The Indian government rejects BYD’s USD 1 billion manufacturing plant proposal in India due to security concerns, reported a media house. The Chinese automaker had intended to produce electric vehicles (EVs) and electric batteries in India in collaboration with an Indian EV company, Megha Engineering and Infrastructure. Security concerns regarding Chinese investments in India were […]
