KEY POINTS
-A new BRICS currency is currently not on the agenda, said India's Foreign Minister S. Jaishankar
-His remarks come ahead of a BRICS summit to be held in August in South Africa
-Brazil and South Africa's leaders recently made statements about an alternative to the U.S. dollar
India has shut down speculation in recent weeks that the BRICS nations were planning a common currency to derisk their economies from the kind of devastating sanctions that the United States has levied on Russia and other countries by leveraging the greenback's global dominance.
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1,487 comment(s).Last comment by IDQWE001 2023-10-04 18:00
India says China phone maker Oppo evaded $550m in tax Accusation follows string of raids on Chinese smartphone companies
SAYAN CHAKRABORTY, Nikkei staff writer July 13, 2022 19:35 JST
BENGALURU -- Indian authorities on Wednesday accused the local unit of Chinese smartphone manufacturer Oppo of evading around 44 billion rupees ($550 million) in customs duty.
The announcement follows a series of raids on the operations of Chinese phone makers in the country amid government allegations ranging from tax evasion to unlawfully sending money abroad.
While officials say they are targeting specific legal or regulatory violations, many experts argue the high-profile moves come as Chinese manufacturers increasingly dominate India's smartphone sector and mark the latest fallout from mounting geopolitical tensions between New Delhi and Beijing.
The announcement regarding Oppo follows barely a week after another Chinese mobile phone manufacturer, Vivo, was accused of channeling nearly 625 billion rupees outside India to avoid paying taxes.
India's anti-smuggling agency alleges that Oppo wrongly claimed exemptions of about 30 billion rupees on "certain items" imported into the country. It says the company also avoided paying 14 billion rupees in taxes by channeling money overseas labeled as royalty and license fees.
BYD asked for 100% cash upfront to purchase 1000 electric buses, India cannot afford to pay. India turn around and says it it is against normal trade deal. Why BYD demanded 100% upfront? Simply India importers are not credible business partners. History tells thousand facts.
India protests China’s issuing of separate visas to Indians from disputed northeastern state
NEW DELHI (AP) — India protested on Thursday China’s practice to continue to issue separate visas that are stapled onto passports of Indian citizens from the northeastern Arunachal Pradesh state, which China claims to be part of its South Tibet.
Three members of an Indian sports team set to compete at the World University Games this week in China were denied regular visas — which are stamped onto passports — by the Chinese Embassy in New Delhi.
Instead, they got their visas stapled to a page in their passports. For India, that presents a problem because if it sends athletes with stapled visas to China, it would imply accepting China’s claim on the territory.
Wolf warriors pushing all the neighbour countries to strong and soild alliance. Lol.
Seems that India is ready to decouple from China in every aspect. Why not just start another border war instead of being a thorn in fresh with any organisation involving China. A war with China will enable peaceful border for next 50 years.
Stapled visas as a practical solution...not the first time and no issue previously....it's Modi want to show biden he got the message and becomes America's barking dog
most companies [more than 50%] that went to India made losses.
Famous ones are Air Asia, Mudajaya, Maxis
Maxis Bhd remains committed to its loss-making Indian telecom unit Aircel after having invested US$7 billion over a decade, India’s Economic Times said in a report published on its website1. However, Aircel Ltd filed for bankruptcy in India in 2018
Mudajaya Group Bhd took a big hit in the fourth quarter ended Dec 31 on rising share of losses in an independent power producer (IPP) in India. The company posted a net loss of RM235mil in the last quarter. For the full year (FY18), Mudajaya’s losses increased to RM396mil compared with a net loss of RM124mil reported a year earlier
Why Mudajaya made huge losses in power generation India JV? Simply cheated by India Authority and Indian partner. In order to rob foreingn companies making money from India operation, its govt can make new law with restropective effect to make the robbery legal.
Foxconn to Invest $194 Million in New Plant in India's Tamil Nadu
By Reuters | July 31, 2023, at 1:10 a.m.
CHENNAI (Reuters) -Taiwan's Foxconn has signed a deal with Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility that will create 6,000 jobs, the government of the southern Indian state said on Monday.
The Foxconn Industrial Internet (FII) facility will be built in the Kancheepuram district near the state capital of Chennai, a state government source said on condition of anonymity as details are not yet public.
It will be separate from the sprawling campus near Chennai where Foxconn assembles Apple's iPhones, they added.
"This is a major achievement for the state," Tamil Nadu Minister for Industries TRB Rajaa said in a statement, after Foxconn Chairman Young Liu and other representatives met with state officials including its chief minister.
Liu told reporters in Tamil Nadu that Foxconn currently employs about 40,000 workers in its facility near Chennai.
Foxconn has plans to quadruple the workforce at its Tamil Nadu iPhone factory by late 2024 to spread its bets beyond China, Reuters reported last year.
Liu has been in India to attend the federal government's semiconductor conference that ended on Sunday.
Foxconn on Monday also signed a research and innovation agreement with the Indian Institute of Technology, Madras and the state government's investment arm Guidance.
The partnership aims to bring more high-value tech to the state via Foxconn, the unnamed source said. "Tamil Nadu wants to move up the value chain in electronics," they added.
Reuters reported last week that the Foxconn subsidiary was in talks with Tamil Nadu about the components investment, with the company aiming for the plant's completion in 2024.
FII makes electronic devices, cloud service equipment and industrial robots. It was not immediately clear if the new plant would make components for iPhones or for other firms, or both.
HK property will be coming down by 20-30% ....this is what HK needs to make housing more affordable. HK housing problem will be solved as promised. Human rights for revolutionaries is no slums, no tent cities, no homeless, no boat people. And China has succeeded....Shanghai affordability is also being addressed.
India will take the us- China problems as India's opportunity....well, up to them la but India will still disappoint people and cannot live up to expectations
Japan says China is the biggest strategic challenge...I think it is expected G7 all will say the same thing. As for Japan their car industry is at risk of going bankrupt due to emergence of China cars....Germany also
For commitment to reform and opening up is 100% ...China is not afraid of fair competition and of globalisation....that is why China is member of rcep, India is not....and China will offer anyone free trade solutions especially to global south.
Fox is a Taiwanese companies. At the moment, China companies are considered a risk in India, Taiwan companies are welcome in India. That is the geo politics consideration. Biden surely agrees and encourages it in hope of containing China. ....these are things China cannot control
Foxconn to Invest $194 Million in New Plant in India's Tamil Nadu
Due to geopolitical and global supply chain restructuring not only Foxconn there are many Taiwan chips manufacturer bring their investment in India and Thailand. All their advanced AI chips manufacturing will be stayed locally.
When typical chinese has nothing to back-up their view, this is what normally they would do to manupulate us thru their own understanding of moral or racial card hijacking our emotion feeling of guilty.
You are right most of the CCP supporters trying to play race cards it manupulates all Chinese MUST support CCP. CCP does not represent 100% China. Communism and Socialism are not original from ancient China. Those are rubbish from Europe culture.
Some CCP dogs not even could master his ancient language, his parents must be shame on him.
Only those with hidden agenda (either because of blind hatred or they are paid to do so) will be so free to selectively posted negative articles regularly/smear campaign to undermine a particular country and their government system.
Just ask any India poor what India government had done to eradicate poverty in India?
Just ask any India poor what India government had done to eradicate poverty in India? ====
India will remain a feudal country for a long long time. Even with foreign investments, the country will remain a feudal country and the poor will provide cheap labor for capitalists.
Posted by IDQWE001 > 39 minutes ago | Report Abuse
When typical chinese has nothing to back-up their view, this is what normally they would do to manupulate us thru their own understanding of moral or racial card hijacking our emotion feeling of guilty.
You are right most of the CCP supporters trying to play race cards it manupulates all Chinese MUST support CCP. CCP does not represent 100% China. Communism and Socialism are not original from ancient China. Those are rubbish from Europe culture.
Some CCP dogs not even could master his ancient language, his parents must be shame on him.
the real China is united, patriotic, optimistic, happy, know their children lives will be better.......................and all looking forward to 2050.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3245 views | 3 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by IDQWE001 > 2023-07-18 09:23 | Report Abuse
KEY POINTS -A new BRICS currency is currently not on the agenda, said India's Foreign Minister S. Jaishankar -His remarks come ahead of a BRICS summit to be held in August in South Africa -Brazil and South Africa's leaders recently made statements about an alternative to the U.S. dollar India has shut down speculation in recent weeks that the BRICS nations were planning a common currency to derisk their economies from the kind of devastating sanctions that the United States has levied on Russia and other countries by leveraging the greenback's global dominance.