Trends - China - Business Recorder

China

China commerce ministry says Jan-Nov FDI up 6.3% y/y in yuan terms

For November alone, FDI rose 5.5% from a year earlier to 98.7 billion yuan.

Published 15 Dec, 2020 11:41am

Markets

China Nov crude throughput hits daily record as private refiner starts new unit

Meanwhile, PetroChina Co's Yunnan refinery shut a 260,000 bpd crude processing facility on Dec. 5 for a 50-day overhaul. Sinopec's Qingdao and Qilu facilities are scheduled to resume operations later this month after maintenance.

Published 15 Dec, 2020 09:58am

Business & Finance

China's factory recovery steps up as export, consumer demand grows

"We expect 7% GDP growth in 2021 from 1.7% in 2020," said Iris Pang, ING's Chief Economist for Greater China, by email.

Published 15 Dec, 2020 09:26am

World

China reports 17 new COVID-19 cases vs 16 a day earlier

The total number of confirmed COVID-19 cases in China now stands at 86,758. The death toll remains unchanged at 4,634.

Published 15 Dec, 2020 09:01am

World

China's Xi targets steeper cut in carbon intensity by 2030

Li estimated that China's new carbon intensity target would mean China would reach the peak of its carbon emissions between 2025 and 2030.

Published 14 Dec, 2020 12:01pm

Business & Finance

Indonesia seen posting $2.67bn trade surplus in Nov

The median forecast of 14 analysts in the poll was for a November trade surplus of $2.67 billion, below October's $3.61 billion - the highest in nearly a decade.

Published 14 Dec, 2020 11:46am

Markets

Yuan rises despite latest PBOC measure to reduce capital inflows

Prior to the market opening, the PBOC set the midpoint rate at 6.5361 per dollar, 44 pips firmer than the previous fix of 6.5405.

Published 14 Dec, 2020 10:38am

Business & Finance

Pakistan to receive $1.5 billion from China to repay Saudi Arabia debt

In 2018, Saudi Arabia agreed to give Pakistan $3 billion in foreign currency support for a year and a further loan worth up to $3 billion in deferred payments for oil imports to help stave off a current account crisis.
Out of $2 billion, Pakistan is now set to return the $1 billion to Saudi Arabia.

Updated 14 Dec, 2020 10:59am

World

U.S. House Democrat slams Trump trade policies, urges Biden to work with allies

The head of the powerful U.S. House of Representatives Ways and Means Committee on Friday slammed what he called President Donald Trump’s “unsophisticated response” to China’s ambitions and called for a major recalibration of U.S. policies.
Chairman Richard Neal, a Democrat, urged the future administration of fellow-Democrat Joe Biden to formulate a package of programs and investment to counterbalance China.

Published 12 Dec, 2020 07:11pm

Business & Finance

China's exports pinched by global run on shipping containers

Industry observers expect the container tightness to persist until coronavirus vaccines are rolled out widely and more global travel resumes.

Published 11 Dec, 2020 11:45am

Markets

Asia Rice-Indian rates extend gains to over 2-month high on fresh orders

Prices for the top exporter's 5% broken parboiled variety rose to $378-$383 per tonne, their highest since the week of Sept. 24, from $375-$381 last week.

Published 11 Dec, 2020 11:36am

Markets

China's yuan firms on stronger fixing; dollar in doldrums

Analysts and investors widely expect the yuan to continue rising in the medium term, helped by a weaker dollar and investors seeking higher yielding yuan investments.

Published 11 Dec, 2020 10:28am

World

China sanctions US officials over Hong Kong moves

The financial hub was rocked by pro-democracy protests last year that were largely halted by a sweeping national security law imposed by Beijing, drawing criticism over eroding rights from countries including the US.
On Monday, the US said it was freezing any US assets and barring travel to the United States for 14 vice-chairs of the Standing Committee of the National People’s Congress, which spearheaded the tough new law.

Published 10 Dec, 2020 02:33pm

World

U.S. blacklists Chinese crime boss, others in anti-corruption sanctions

The sanctions also apply to three entities headed by Wan, who is also known as “Broken Tooth,” the agency said in a statement.
The United States also blacklisted one Liberian individual and one Kyrgyz individual under Executive Order 13818, which targets corruption and serious human rights abuse.

Published 10 Dec, 2020 02:31pm

Markets

Australia shares snap seven-day rally as tensions with China escalate

Shares of travel-related firms such as Qantas Airways and Sydney Airport Holdings declined after UK and US health regulators issued allergy warning on Pfizer's COVID-19 vaccine.

Published 10 Dec, 2020 01:13pm

World

China imposes further duties on Australian wine

Beijing also suspended beef imports from four Australian slaughterhouses in May and hit barley shipments from the country with tariffs.

Published 10 Dec, 2020 11:46am

World

India's 15-year-old disinformation, influence operation against Pakistan exposed

This vast network was active in Geneva and Brussels in producing and amplifying content designed to primarily sabotage Pakistan.
The disinformation operation actively targeted academic institutions and served New Delhi's interests mainly by reviving “dead media, dead think-tanks, and NGOs”, EU DisinfoLab report says.
The investigation revealed that the Indian network aims to reinforce pro-New Delhi and anti-Pakistan, anti-China content in India.

Updated 10 Dec, 2020 02:03pm

Business & Finance

Developing Asia's projected 2020 contraction to be less severe than expected, ADB says

Southeast Asia faces a bleaker outlook with this year's economic output seen to suffer a deeper slump of 4.4%, before growing 5.2% next year, down from an earlier forecast for 5.5% growth.

Published 10 Dec, 2020 10:23am

Business & Finance

China to sell 80mn internal combustion engines a year in next 5 years

China, the world's biggest vehicle market, however, is accelerating development of electric vehicles.

Published 10 Dec, 2020 09:28am

Business & Finance

China says 2020 corn output barely changed from last year

The country's wheat output came to 134.25 million tonnes, marginally up from 133.59 million tonnes last year, while rice production rose 1.1% to 211.86 million tonnes.

Published 10 Dec, 2020 09:24am

World

China cancels commemorative stamps with India

China’s State Post Bureau had planned with India to jointly launch a stamp in April commemorating 2020 as the 70th year of bilateral relations.
Diplomatic relations between China and India have been tense since June, when at least 20 Indian soldiers were killed in the western Himalayas after being attacked by Chinese troops using rocks and clubs.

Updated 09 Dec, 2020 05:46pm

World

China reports 15 new COVID-19 cases vs 12 a day earlier

New asymptomatic cases, which China does not classify as confirmed cases, fell to one versus five cases a day earlier.

Published 09 Dec, 2020 10:57am

World

Bailout package: Iraq all set to get multibillion-dollar oil deal from China

Iraq's economy suffered a blow after oil demand and prices lowered leaving the cash-strapped country in a crisis pay salaries
The deal will help Iraq to receive money upfront in exchange for long-term oil supplies and steer it out of the financial economic crunch

Published 09 Dec, 2020 10:52am

With vaccine drawing closer, US tops 15 million coronavirus cases

Trump signed an executive order on Tuesday intended to ensure that priority access for COVID-19 vaccines procured by the US government is given to the American people before assisting other nations.

Published 09 Dec, 2020 10:10am

Business & Finance

Australia's Fortescue sees strong steel demand in 2021

Iron ore prices soared this month towards $150 a tonne due to ongoing supply issues out of Brazil.

Published 09 Dec, 2020 09:00am

World

Biden considering possible China ambassadorship for former Mayor Buttigieg: Axios

Buttigieg, an Afghanistan war veteran, was among the key contenders for the role of ambassador to the United Nations, but Axios reported that Biden passed him over for this.

Published 09 Dec, 2020 08:50am

World

China condemns U.S. sanctions on Chinese officials over Hong Kong crackdown

A spokesman for the Chinese foreign ministry's office of the commissioner to Hong Kong also condemned the U.S. move.

Published 08 Dec, 2020 06:58pm

World

China says will take firm countermeasures after U.S. sanctions on officials

The U.S. move to sanction Chinese officials is "unwarranted and vile behaviour", and China urges it to withdraw the decision, foreign ministry spokeswoman Hua Chunying.

Published 08 Dec, 2020 05:18pm

Pakistan

Pakistan-China ink defense cooperation deal to counter US-India pact

The deal aims to enhance cooperation between the two armies and address regional security issues
It is believed that the pact contains intelligence-sharing that will help Pakistan track the movements of Indian forces across the border

Updated 08 Dec, 2020 05:47pm

Markets

China yuan softer as safe-harbour demand boosts dollar

In the short term, traders said that the yuan would still be guided by dollar movements, with Sino-US frictions having a negative impact.

Published 08 Dec, 2020 01:07pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 13	278.73
USD PKR Interbank Buying / Jun 13	278.53
USD to Japanese Yen / Jun 13	157.03
USD to Swiss Franc / Jun 13	0.90
Pound Sterling to USD / Jun 13	1.28
Euro to USD / Jun 13	1.08

Stock	Volume
S&P 500 / Jun 13	5421.03
India Sensex / Jun 13	76818.22
Tokyo Nikkei / Jun 13	38793.17
Nasdaq / Jun 13	17608.44
Hang Seng / Jun 13	18017.22
FTSE 100 / Jun 13	8215.48
Dow Jones / Jun 13	38712.21
Germany DAX 30 / Jun 13	18630.86

Item	Value
Petrol/Litre / Jun 13	268.36
Crude Oil USD/Barrel / Jun 13	78.31
Karachi Cotton PKR/37.32 KG / Jun 13	19935
Gold 10 Grams PKR / Jun 13	206361
Gold Spot USD/Ounce / Jun 13	2311.94
Diesel/Litre / Jun 13	270.22

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jun 13 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 13 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 13 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 13 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 13 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 13 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 13 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 13 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 13 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 13 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 13 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 13 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 13 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 13 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 13 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 13 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 13 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 13 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 13 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 13 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 13 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 13 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 13 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 13 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 13 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 13 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 13 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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