The depreciation in the yuan has led to a decline in all emerging market currencies
China has approved the construction of the world's largest dam on the Brahmaputra River in Tibet, close to the Indian border. The USD 137 billion project, which is expected to dwarf even China's own Three Gorges Dam, has raised concerns in India and Bangladesh, the downstream riparian states. Concerns in India are centered around China's potential to control water flow, potentially enabling the release of large amounts of water to flood border areas in times of hostilities. The dam is part of China's 14th Five-Year Plan, and the Chinese government claims that the project is safe and prioritizes ecological protection.
China has defended its plan to build the world's largest dam on the Brahmaputra River in Tibet, assuring that the project will not affect riparian states and safety issues have been addressed through decades of studies. The dam, estimated to cost USD 137 billion, has raised concerns in India and Bangladesh, but Chinese authorities maintain that the project has been thoroughly studied and safeguards are in place. The dam is part of China's efforts to develop clean energy and respond to climate change.
China plans to achieve a high quality and efficient annual growth rate of 7 per cent during the 12th Five-Year Plan, starting this year, which is not easy by any means.
China, which is the second highest spender on defence after the United States, has allocated 1.67 trillion yuan (about USD 232 billion) for defence spending.
Federation of Indian Export Organisations president A Sakthivel said the quotations from the Chinese suppliers do not reflect the real value of the dollar, hurting the Indian interests.
Calls by India and Brazil for appreciation of Chinese currency smacks of protectionism borne out of concerns over growing trade imbalances with China rather than the two countries backing US demand for Yuan revaluation, Chinese analysts said.
Companies such as Larsen & Toubro and Bharat Heavy Electricals Ltd believe the undervalued renminbi (yuan) gives Chinese goods an unfair advantage in Indian markets.
In Ahmedabad to promote tourism in the island nation, Fernando said China has made a lot of investment in Sri Lanka and has been 'understanding its requirements in the past'.
There are apprehensions about the possibility of the vessel's tracking systems attempting to snoop on Indian installations while being on its way to the Sri Lankan port.
No single individual, institution, or action is to blame for this. The BJP is responding in kind -- definitely not without checking with its government. And they wait for Mr Trump, notes Shekhar Gupta.
Investors need to carefully assess country-specific risks. 'This is especially true of a market that is less transparent than the US.'
With economic problems and job cuts, Hangzhou locals and people in other parts of China are not very pleased about hosting the Asian Games.
'China could place the currency on a par with global biggies. But it has to wait to be a serious challenger.'
Chinese brokers had been looking to use some of the cash they raised this year to expand their global reach
A surprise revaluation of the Chinese yuan on Thursday sent the rupee spiralling to a closing peak of Rs 43.20/25 per dollar
The ship will now arrive on August 16 and remain at the Hambantota port till August 22, they said.
Sri Lankan President Anura Kumara Disanayaka assured Prime Minister Narendra Modi that his country's soil will not be used against India's interests, addressing concerns over China's growing influence in Colombo. The two leaders discussed a range of issues, including a defense cooperation agreement, energy ties, and debt restructuring. They also agreed to initiate a ferry service between Rameshwaram and Talaimannar, and to adopt a "humanitarian approach" to the fishermen issue.
'The impact of a devaluation will be modest on India's exports'.
Foreign minister Ali Sabry told the cabinet that the Chinese vessel had only asked for a refuelling visit.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
Answer this fun quiz to test your finance gyaan.
The People's Bank of China cut its daily reference rate for the currency by a record 1.9 per cent, the biggest loss since January 1994.
The Chinese research vessel returned to China a few days ago after being under constant watch of Indian Navy vessels, the sources said.
Chinese Premier Li Keqiang, who is at the helm of managing the country's economy for a decade, said that he will be stepping down this year, setting in motion the once-in-a-decade sweeping leadership change in the Communist country.
The Polar Bear Hotel, part of the Harbin Polarland theme park in Heilongjiang's capital and largest city, Harbin, opened its doors on Friday with the promise of round-the-clock polar bear viewing from all 21 guest rooms.
In a relief for Tibetan spiritual leader Ogyen Trinely Dorje, a court in Himachal Pradesh on Monday accepted the plea of the prosecution to drop the conspiracy charge against him in the case relating to recovery of foreign currencies from his monastery in January last year.
An unexpected devaluation of yuan saw it plunge the most in 20 years.
The 50-share Nifty plunged by 134.75 points or 1.23 per cent to close at 10,862.60 points as 38 of its constituents declined.
In 2011, the rupee emerged as the most vulnerable Asian currency on the block. It depreciated by almost 19 per cent in 2011, while for the others depreciation was mostly in single digits. The Chinese Yuan actually appreciated in this period.
The esoteric world of international finance is resonating with the clash of currencies, says
The fact that the trade and current account deficit seem to be alarmingly large (the July trade deficit was about $13 billion) adds a sense of urgency to these concerns.
This is the first time a country has won all the diving events at one Games.
The rupee fell to a two-year low of 64.84 against the US dollar.
Yuan broke Stephens when the American was serving for the match at 6-5. Stephens led 5-4 in the tie-break but could not hold on to her advantage and crashed out.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
India is concerned over the visit of a Chinese satellite tracking ship to Sri Lanka's Hambantota port as it signals an attempt by China to expand its maritime influence in the region, sources in defence and security establishment said on Tuesday.
India lags behind many nations in managing exchange rates, including China and Singapore.
