Italy Seeks to Limit China's Ownership of Critical Companies
Prime Minister Giorgia Meloni's efforts would involve firms that are considered strategic, both privately held and state-controlled, Bloomberg News is reporting this week from Rome. Examples include tiremaker Pirelli, where China's state-owned Sinochem International has a 37% holding.
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CNBC
13 minutes ago
- CNBC
Chinese companies are looking to go global, no longer just about hard manufacturing
Joe Ngai, greater China chairman at McKinsey, says Chinese companies are increasingly producing products that have a global market, like Labubus, Tiktok, and Black Myth: Wukong – but there's some way to go before they become 'truly global'.
30 minutes ago
India's Modi to meet China's top diplomat as Asian powers rebuild ties
NEW DELHI -- NEW DELHI (AP) — Indian Prime Minister Narendra Modi will meet with China's top diplomat on Tuesday in a sign of easing tensions between the nuclear-armed neighbors after a yearslong standoff between the Asian powers. Chinese Foreign Minister Wang Yi, who arrived in India on Monday, is scheduled to hold talks with Modi and other leaders, including National Security Adviser Ajit Doval, about the disputed border in the Himalayan mountains. Reducing the number of troops on the border, and resuming some trade there, is expected to be on the agenda. The rebuilding of ties coincides with friction between New Delhi and Washington after U.S. President Donald Trump imposed steep tariffs on India, a longtime ally seen as a counterbalance against China's influence in Asia. India is part of the Quad security alliance with the U.S. along with Australia and Japan. India and China's decades-old border dispute worsened in 2020 after a deadly clash between their troops in the Ladakh region. The chill in relations affected trade, diplomacy and air travel as both sides deployed tens of thousands of security forces in border areas. Some progress has been made since then. Last year, India and China agreed to a pact on border patrols and withdrew additional forces along some border areas. Both countries continue to fortify their border by building roads and rail networks. In recent months, the countries have increased official visits and discussed easing some trade restrictions, movement of citizens and visas for businesspeople. In June, Beijing allowed pilgrims from India to visit holy sites in Tibet. Both sides are working to restore direct flights. Last week, the spokesman for India's foreign ministry, Randhir Jaiswal, said India and China were in discussions to restart trade through three points along their 3,488-kilometer (2,167-mile) border. Manoj Joshi, a fellow at the Observer Research Foundation, a New Delhi-based think tank, said relations are still at an uneasy level of normalization. 'Settling the boundary issue between the two countries requires political compromise at the highest political level,' said Joshi, who also served as a member of the advisory board for India's National Security Council. He asserted that the countries are "still talking past each other when it comes to the border dispute and issues surrounding it." On Monday, China's Foreign Ministry spokesperson Mao Ning said Beijing is willing to take Wang's India visit as an opportunity to work with the Indian side to 'properly handle differences and promote the sustained, sound and stable development of China-India relations.' Mao said Wang's meeting with Modi's national security adviser will 'continue in-depth communication to jointly safeguard peace and tranquility in the border areas.' The thaw between Beijing and New Delhi began last October when Modi and Chinese President Xi Jinping met at a summit of emerging economies in Russia. It was the first time the leaders had spoken in person since 2019. Modi is set to met Xi when he travels to China late this month — his first visit in seven years — to attend the summit of the Shanghai Cooperation Organization, a regional grouping formed by China, Russia and others to counter U.S. influence in Asia. Earlier this year, Xi called for India and China's relations to take the form of a 'dragon-elephant tango' — a dance between the emblematic animals of the countries. Last month, India's external affairs minister visited Beijing in his first trip to China since 2020. The renewed engagement comes as New Delhi's ties with Trump are fraying. Washington has imposed a 50% tariff on Indian goods, which includes a penalty of 25% for purchasing Russian crude oil. The tariffs take effect Aug. 27. India has shown no sign of backing down, instead signing more agreements with Russia to deepen economic cooperation. Trump's renewed engagement with India's arch rival, Pakistan, has also encouraged New Delhi's overtures to China, said Lt. Gen. D.S. Hooda, who led Indian military's Northern Command from 2014 to 2016. In June, Trump hosted Pakistan's army chief for a White House lunch and later announced an energy deal with Islamabad to jointly develop the country's oil reserves. Both followed Trump's claims of brokering a ceasefire between India and Pakistan after the two sides traded military strikes in May. 'China is heavily invested in Pakistan and, practically speaking, you can't have any expectation that Beijing will hold back support to Islamabad," Hooda said. 'But you can't have two hostile neighbors on your borders and simultaneously deal with them also.'
Business Upturn
an hour ago
- Business Upturn
FACT shares jump nearly 3% as China lifts fertiliser export curbs to India
By Aditya Bhagchandani Published on August 19, 2025, 10:50 IST Shares of Fertilisers and Chemicals Travancore Ltd (FACT) surged almost 3% on Tuesday, August 19, after reports confirmed that China has lifted restrictions on fertiliser exports to India, a move that is expected to ease supply concerns for the agriculture sector. At 10:46 am, FACT shares were trading at ₹991.85 apiece, up 2.81% (₹27.10) from the previous close of ₹964.75. The stock hit an intraday high of ₹998, with a market capitalisation of ₹641.44 billion. According to ET, the breakthrough came after External Affairs Minister S. Jaishankar met his Chinese counterpart Wang Yi last month. India had strongly raised concerns over China's sudden export curbs on fertilisers, which had directly impacted the availability of Di-Ammonium Phosphate (DAP) during the crucial Rabi season. Sources said Beijing has now not only eased fertiliser export restrictions, but also conveyed its readiness to allow shipments of rare earth magnets, minerals and tunnel boring machines to India — three key requests New Delhi had flagged in talks. Reports indicate that shipments have already begun. The decision comes at a crucial time for India's fertiliser industry, which has been grappling with high input costs and tight supply. Analysts believe easing of Chinese export restrictions will help stabilise domestic prices and improve availability, directly benefiting fertiliser producers such as FACT. The development also carries significant geopolitical weight, as it signals gradual normalisation of trade ties between India and China, following troop disengagement along the Line of Actual Control. FACT shares have already gained sharply over the past year, rising from a 52-week low of ₹565 to a high of ₹1,112. With fertiliser supply outlook improving, market watchers expect the stock to remain in focus in the near term. Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
