ASIA: China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading. Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrencies, such as registration, trading, clearing and settlement, three industry bodies said in a […]

ASIA: China urged the Philippines on Tuesday to observe “basic etiquette,” and eschew megaphone diplomacy after the southeast Asian nation’s foreign minister used an expletive-laced Twitter message to demand that China’s vessels leave disputed waters. In a statement, China’s foreign ministry urged the Philippines to respect the nation’s sovereignty and jurisdiction and stop taking actions […]

ASIA: China’s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, but underlying economic conditions remained positive even as input and output inflationary pressures intensified for manufacturers. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) dropped to 50.6 last month — the lowest level since April 2020 […]

ASIA: India plans to offer fresh incentives to companies making electric vehicles (EVs) as part of a broad auto sector scheme it expects to attract $14 billion of investment over five years, Reuters reported. The plans envisage $8 billion of incentives for carmakers and suppliers over a five-year period to drive large investment in the […]

ASIA: China will invest more in coal to power its economy over the next five years, according to a government plan released Friday (Mar 5) that only modestly increased renewable ambitions. Environmentalists had been hoping China’s five-year national development plan, unveiled at its annual parliamentary session would give a roadmap for its goal of carbon […]

ASIA: China may ban the export of rare-earth refining technology to countries or companies it deems as a threat to state security, according to a person familiar with the matter. While China has no plans to restrict shipments of rare earths to the US, it is keeping the plan in its back pocket should a […]

ASIA: China’s capital city, Beijing, will hand out about $1.5 million in a limited trial of the central bank’s digital currency, the municipal government announced over the weekend. That marks the third major test of the digital currency under development by the People’s Bank of China. The cities of Shenzhen and Suzhou held similar experiments […]

ASIA: China and Russia have blocked the UN from condemning the ongoing military coup in Myanmar. The UN statement sought to “condemn the military coup” and call on the military to “immediately release those unlawfully detained,” according to a draft seen by Politico. Wider fiscal deficits and a more gradual pace of consolidation will lift […]

ASIA: Barring another wave of COVID-19 infections, the worst is over for India’s economy and policymakers may soon have more room to support a recovery, the central bank said in its January bulletin released on Thursday. The RBI slashed interest rates early last year to cushion the shock from the coronavirus crisis, but has left […]

The market will come to a decision probably in Feb/March about just how crazy Biden will get. The greatest fear is they will pump up the numbers of COVID to justify a national lockdown following the WHO and Europe which is really all about crushing the economy for the purpose of Build Back Better green. […]