Chinese tech financier released after probe: former colleague
Chinese tech financier Bao Fan has been released by Chinese authorities after vanishing from public view over two years ago while "cooperating"Saturday. His disappearance -- and China Renaissance's subsequent announcement that he was "cooperating in an investigation being carried out by certain authorities" -- sent shockwaves throughout the financial services industry.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Best of BS Opinion: Myanmar tensions, Dubai's Malathon, and Sindoor lessons
The Insolvency and Bankruptcy Code (IBC) Amendment Bill aims to reinforce core principles while streamlining processes. By undoing the Vidarbha Industries and Rainbow Papers rulings, it restores the original insolvency trigger and prioritises secured creditors over government dues. It strengthens the 'clean slate' principle, binds all stakeholders to approved resolution plans, and safeguards existing licences. Tighter timelines for adjudicating authorities, incorporation of regulatory provisions into the Code, and new rules for creditor committees are notable steps. Yet, as M S Sahoo points out, persistent inequities — such as the gap between recoveries for financial and operational creditors — remain unaddressed, and cross-border provisions risk concentrating power with the executive. Shifting to the Northeast, political developments in Myanmar and Manipur carry significant regional implications. Myanmar's plan to hold elections in December 2025 comes even as civil war leaves border states vulnerable to Chinese influence. These tensions spill over into Mizoram, Nagaland, and Manipur, where infiltration from Myanmar is tied to ethnic strife between Meitei and Kuki-Zo groups. Measures like scrapping the Free Movement Regime and initiating border fencing may take years to complete. Resistance groups with cross-border ties remain active. As Aditi Phadnis notes, while President's rule in Manipur has reduced violence, incidents like the June 2025 protests show underlying divisions remain ahead of pivotal elections in Myanmar, India, and Bangladesh. In Dubai, coping with August heat that touches 50 degree Celsius has taken a novel turn. The 'Mallathon,' organised by the Dubai Sports Council, opens shopping malls early for walkers and joggers, creating climate-controlled fitness spaces. About 500 people participate daily, including corporate teams, with attractions like robotic humanoid races adding flair. Inspired by similar practices in colder regions abroad, the initiative, says Sandeep Goyal, has been embraced as an inclusive and practical response to extreme weather, even if some critics dismiss it as image-building. Meanwhile, Operation Sindoor has reignited debate on air force doctrines. The Pakistan Air Force traditionally focuses on fleet preservation and air-to-air combat tallies, while the Indian Air Force prioritises strategic objectives, even at higher aircraft loss rates. As Shekhar Gupta observes, the IAF's strikes on preselected targets contrasted sharply with the PAF's defensive posture, reflecting a longstanding divergence in approach. Finally, Kumar Abishek delves into the science of randomness, distinguishing it from unpredictability and highlighting its role in cryptography, simulations, and secure communications. Advances in quantum computing now allow certified randomness generation, a reminder of both technology's reach and nature's limits. Stay tuned!
Time of India
3 hours ago
- Time of India
US weighs taking stake in Intel: Report
The Trump administration is in talks with Intel to have the US government potentially take a stake in the struggling chipmaker, Bloomberg News reported on Thursday, citing people familiar with the plan. Intel's shares surged over 7% in regular trading and then another 2.6% after the bell. The plan stems from a meeting this week between President Donald Trump and Intel CEO Lip-Bu Tan, according to the report. The meeting came days after Trump publicly demanded the resignation of Tan over his investments in Chinese tech companies, some linked to the Chinese military. Intel declined to comment on the report but said it was deeply committed to supporting President Trump's efforts to strengthen US technology and manufacturing leadership. "Discussion about hypothetical deals should be regarded as speculation unless officially announced by the administration," said White House spokesman Kush Desai. The details of the stake and price are still being discussed, according to the report. Any agreement and potential cash infusion will help the years-long efforts to turn around the company's fortunes. Once the undisputed leader in chip manufacturing, Intel has lost its position in recent years. The chipmaker's stock market value has plummeted to $104 billion from $288 billion in 2020. Intel's profit margins - once the envy of the industry - are also at about half their historical highs. Tan has been tasked to undo years of missteps that left Intel struggling to make inroads in the booming AI chip industry dominated by Nvidia, while investment-heavy contract manufacturing ambitions led to heavy losses. Any agreement would likely help Intel build out its planned chip complex in Ohio, Bloomberg reported. Intel's planned $28 billion chip fabrication plants in Ohio have been delayed, with the first unit now slated for completion in 2030 and operations to begin between 2030 and 2031, pushing the timeline back by at least five years. Taking a stake in Intel would mark the latest move by Trump, a Republican, to deepen the government's involvement in the US chip industry, seen as a vital security interest to the country. Earlier this week, Trump made a deal with Nvidia to pay the US government a cut of its sales in exchange for resuming exports of banned AI chips to China.
NDTV
5 hours ago
- NDTV
As Trade Tensions Escalate, China Files WTO Complaint Over Canada Steel Duties
China filed a complaint with the World Trade Organisation (WTO) over Canadian steel import restrictions on Friday, the commerce ministry said, escalating simmering trade tensions between Beijing and Ottawa. Economic and political relations between China and Canada have been testy in recent years, with trade ties deteriorating even as both countries are targeted by US President Donald Trump's tariff blitz. Last month, Canadian Prime Minister Mark Carney announced an additional 25 per cent tariff on steel imports that contain steel melted and poured in China. He said the move was needed to protect the domestic industry after the United States increased import duties on steel to 50 per cent, prompting fears that firms would divert exports and dump steel in Canada. China's commerce ministry said in a statement that it had filed a complaint against the Canadian measures on Friday, labelling them "discriminatory" and saying they "disregarded WTO rules". "Such actions are typical unilateral and protectionist measures that undermine China's legitimate rights and interests and disrupt the stability of global industrial and supply chains for steel," it added. The WTO complaint comes days after Beijing announced new temporary duties on Canadian imports of canola and preliminary levies on halogenated butyl rubber -- a material used for tyre linings and hoses -- as well as an anti-dumping probe into Canadian pea starch imports. Canada said on Tuesday it was "deeply disappointed" with the move to impose duties on canola. Beijing had already slapped a 100 per cent surcharge on various Canadian agricultural products in March, in what it said was a response to Ottawa's decision last year to place 100 per cent tariffs on Chinese electric vehicles.
