The China Mail - Economy

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India Introduces Four-Layer Motor Insurance Structure for Private Vehicles

India's insurance regulator has introduced a new four-layer structure for motor insurance policies covering private cars and two-wheelers. The move, effective December 15, 2026, aims to provide vehicle owners with greater clarity and choice in selecting coverage options beyond the mandatory third-party liability.

Mutual fund returns show shifting leaders across market-cap categories

Equity mutual funds are classified into different categories based on their investments across market capitalisations, primarily large-cap, mid-cap, and small-cap funds. Large-cap funds invest in well-established companies that tend to be relatively less volatile, while mid-cap funds focus on medium-sized companies.

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Princes Harry, Andrew benched on third row at coronation

Princes Harry and Andrew attended the coronation of King Charles III on Saturday but were relegated to the third row of the royal family seating, with no formal role in proceedings.

KondZilla, the entrepreneur of Brazilian favela funk

They say everything he touches turns to gold: KondZilla, the man behind the most popular YouTube channel in Latin America, has revolutionized Brazilian funk music, taking favela beats to a massive online audience.

Nicaraguan paradise draws Americans, Europeans despite political strife

Tucked away in a southern corner of Nicaragua, far from the political persecution of the opposition by President Daniel Ortega, a tiny colony of Americans and Europeans have carved out a new home on the Pacific, lured by the area's natural beauty, security and tranquility.

Biden says Republicans holding US economy 'hostage'

President Joe Biden accused Republicans on Friday of holding the US economy "hostage" by refusing to pass a debt limit increase unless he first agrees to "draconian" budget cuts.

Communist Cuba celebrates Worker's Day, four days late

Cuba finally celebrated May Day on Friday, four days late, after the original celebration of workers was postponed due to the risk of rain and trimmed down as a result of a fuel shortage.

Chinese fast fashion giant Shein denies low prices due to forced labour

Chinese cut-price fast-fashion giant Shein defended its business model in an interview with AFP, saying demand-based production accounted for its low prices and not forced or cheap labour.

HSBC defeats proposal to spin off bank's Asia ops

HSBC on Friday overwhelmingly defeated an activist proposal supported by its largest stakeholder, Chinese insurer Ping An, to spin off the bank's Asia business in a search of better returns.

US perfume giant Coty weighs Paris stock listing

US perfume and beauty products giant Coty said Friday that it was looking at a second stock listing in Paris as part of its efforts to strengthen its presence in Europe.

US hiring shows surprise surge as unemployment falls

Hiring in the United States picked up pace in April and unemployment returned to the lowest level in decades, government data showed Friday, defying expectations of a slowdown despite higher interest rates.

HSBC defeats proposal to split bank

HSBC on Friday comfortably defeated an activist proposal supported by its largest stakeholder, the Chinese insurer Ping An, that sought to split the bank in a search for better returns.

Germany considers electricity price cap for industry

Germany's Economy Minister Robert Habeck on Friday presented plans to cap the price of electricity used by energy-intensive industries to insulate the sector against sharp cost increases, but the proposal immediately sparked criticism.

HSBC seeks to keep bank intact as shareholders vote on split

HSBC faced a vote by shareholders Friday over an activist proposal supported by the bank's largest stakeholder, Chinese insurer Ping An, to split the business as they seek better returns.

Europe stocks rebound from losses before US data

European stock markets rebounded slightly Friday before key US payrolls data, after the previous session's sharp losses driven by interest rate hikes and banking sector woes.

Sister tells of 'heartbreak' over Kenya cult member accused of starving kids

When Roseline Asena's younger brother quit drinking after joining a Kenyan church run by now notorious cult leader Paul Nthenge Mackenzie, she hailed the self-proclaimed pastor for "saving" him from the clutches of alcoholism.

Maduro accuses Biden administration of 'looting' Venezuelan oil firm

Venezuelan President Nicolas Maduro on Thursday accused US President Joe Biden's government of "looting" over the proposed sale of Caracas' most valuable overseas asset, oil refiner Citgo.

German recession fears rise as factory orders plummet

Industrial orders at German factories saw their biggest fall in March since the outbreak of the Covid pandemic in 2020, data showed Friday, the latest sign that Europe's biggest economy is facing a steep downturn.

'Beautiful Corolla': Afghanistan's enduring love affair with Toyota

Little is certain in Afghanistan -- armies invade and retreat, governments rise and fall -- but when the key of a Toyota Corolla turns in the ignition, the engine can be relied upon to roar to life.

HSBC faces shareholder vote on splitting bank

Bank giant HSBC faces a vote by shareholders on Friday over a proposal by its largest stakeholder, Chinese insurer Ping An, to split the business to seek better returns.

Asian stocks mixed after slide on Wall Street

Asian stocks were mixed on Friday following a slide on Wall Street driven by renewed fears of banking sector turmoil.

'Beautiful Corolla': Afghan love affair with Toyota endures the ages

Little is certain in Afghanistan -- armies invade and retreat, governments rise and fall -- but when the key of a Toyota Corolla turns in the ignition, the engine can be relied upon to roar to life.

Rising star rides Mexican music's wave of success

A fast-rising young Latin music star is helping a Mexican musical genre that has courted controversy by glamorizing drug traffickers to take global charts by storm.

Rising iPhone sales help Apple beat forecasts

Apple on Thursday said iPhone sales and money made from services powered quarterly earnings that beat forecasts, despite inflation pressure and the slowing global economy.

US regional banks sink again as reassurances fall flat

Shares of PacWest Bancorp were in free fall Thursday after the lender's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

Bernie Sanders pushes for $17-an-hour US minimum wage

Leftist US senator Bernie Sanders announced a bill Thursday to raise the national minimum wage to $17 an hour, reigniting the battle for better pay standards as workers see pandemic-era gains erased by runaway inflation.

UN short $24 mn to prevent Yemen oil spill

The United Nations is short nearly $24 million needed to safely remove oil from an abandoned tanker off Yemen's coast, officials said Thursday, urging donors to stump up the remaining funds.

W. House says tech giants have 'moral' duty on AI

The White House on Thursday told the CEOs of US AI giants that they have a "moral" responsibility to protect society from the potential dangers of artificial intelligence.

Italian FM cancels trip in fresh migrant spat with Paris

Italy's foreign minister cancelled a trip to Paris Thursday after a French minister criticised Rome's migration policy, in a fresh spat over the contentious issue between the two nations.

PacWest latest target as US regional bank shares dive again

Shares of PacWest Bancorp were in free fall Thursday after the bank's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

BuzzFeed, Vice woes signal crisis in digital-only media

With the closure of BuzzFeed News and bankruptcy looming at Vice, the once promising world of free digital media finds itself at a crossroads, seeing ad revenues dry up at the same time as disappointed investors begin walking away.

Nestle faces mineral water problems in drought-hit France

Global food and beverage giant Nestle said Thursday that it would stop extracting from two mineral water wells in eastern France due to drought and increasingly unpredictable weather conditions.

ECB slows rate hikes but signals more needed in inflation fight

The European Central Bank delivered a smaller interest rate hike Thursday as higher borrowing costs begin to take their toll, but said it had "more ground to cover" in fighting red-hot inflation.

Stocks slide after Fed, ECB deliver rate hikes

European and US stocks slid Thursday after the ECB and the Fed again hiked interest rates to fight elevated inflation, while hinting the next move could be a pause.

The China Mail - Economy (English)