China’s leaders pledged on Thursday to open the country’s coffers wider and provide a much-needed jolt to domestic demand in a statement issued after this year’s central economic work conference. This would be accomplished, they said, by raising the fiscal deficit ratio and increasing the issuance of treasury bonds in the coming year. The world’s … Read more
Beijing’s top official handling trade and economic affairs talks with the United States inspected major container ports in China’s top exporting province on Sunday, amid concerns over the potential impact of US president-elect Donald Trump’s trade policies. During his visits to Nansha Port in the city of Guangzhou and Shekou Port in the city of … Read more
Inventory levels for small cars at Maruti Suzuki could be as much as 40-45 days by the end of the month, while other segments are expected to maintain a comfortable 30-day stock, auto company’s Head of Marketing and Sales Partho Banerjee said during a post earnings call. Most dealers have an average inventory of 60 … Read more
Canadian retail sales edged up in July, but economists say it will take further interest rate cuts to spark lasting activity. Statistics Canada said Friday that retail sales rose 0.9 per cent, to $66.4 billion, in July, helped by stronger new car sales. The agency says sales were higher in seven of the nine subsectors it … Read more
AFP Consumer spending remained strong in August as U.S. retail sales beat expectations, lending more credibility to the Federal Reserve’s pending reduction in interest rates. Retail sales shows a minor increase of 0.1% in August, largely due to a rise in online sales, according to Tuesday’s data from the Commerce Department’s Census Bureau. But the … Read more
Retail sales of passenger and commercial vehicles in India fell in August from a year earlier as excessive rainfall in several states weighed on consumer sentiment and economic activity, worsening woes for automakers. While passenger vehicle sales fell by 4.5% to 309,053 units, commercial vehicles slid 6.05% to 73,253 units amid weather-related disruptions and weak … Read more
Traders work the floor of the New York Stock Exchange on August 16, 2024. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you … Read more
AI investment has boosted the company’s revenue in search and recommendation scenarios, Chen said, and helped increase the frequency with which shoppers repurchase products on the company’s e-commerce platforms such as Taobao and Tmall. Alibaba’s June quarter was a mixed bag. The company reported 4 per cent year-on-year revenue growth to 243.2 billion yuan (US$33.5 … Read more
Chinese online shopping giant JD.com reported a 92 per cent year-on-year jump in quarterly net income to 12.6 billion yuan (US$1.7 billion), despite a flattish revenue, as better operational efficiencies helped the company navigate intensifying competition in the domestic e-commerce industry. During the quarter ended June 30, the company achieved “growing economies of scale and … Read more
New Delhi: Passenger vehicle sales fell for the first time in two and a half years in July amid sluggish demand and high dealer inventory, reflecting a broader slowdown in consumer spending across sectors after a two-year post-pandemic boom. While industry body Society of Indian Automobile Manufacturers (SIAM) will issue official sales data only later … Read more
