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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Musk's AI letter is a 'hot mess' of hype, say critics

A letter signed by Elon Musk and hundreds of experts calling for a pause in the development of artificial intelligence is a "hot mess" of "AI hype" that even misrepresents an academic paper, critics say.

H&M beats expectations by staying in the black

Swedish clothing giant H&M said Thursday its net profit more than doubled in the first quarter, defying expectations as analysts were expecting a loss.

Most markets rise as traders weigh rates outlook

Asian and European markets mostly rose Thursday following a recent run-up, with banking sector worries easing and traders weighing central banks' interest rate plans in the wake of the recent turmoil.

Canada revs up its EV batteries manufacturing

As the world accelerates toward emissions-free driving, Canada is making a big push into batteries for electric vehicles -- touting tax incentives, bountiful critical minerals and clean energy to attract multinationals.

Fruit in crisis: Florida's orange groves buffeted by hurricane, disease

Vernon Hollingsworth grew up in Florida among his family's orange trees, recently ravaged by a double whammy of disease and a hurricane that have sent juice prices spiraling and left farmers blinking in disbelief.

Why books could help empty France's prisons

Deep in the vast La Sante prison in Paris, law student Morgane is discussing the classic novel "The Outsider" by Albert Camus with one of the prisoners.

Denied in France, disabled woman seeks exit from life in Belgium

Half-paralysed from birth, partially sighted and now losing control of the limbs that still move, 43-year-old Lydie Imhoff is seeking an escape from life.

China's economy showing 'strong momentum', says Li

China's economy is showing "strong momentum" despite a challenging global environment, Premier Li Qiang said Thursday, promising to bolster support for business as the country emerges from strict Covid controls that hammered GDP.

Asian markets mixed as traders weigh rates outlook

Asian markets were mixed Thursday following a recent run-up, with banking sector worries easing and traders weighing central banks' interest rate plans in the wake of the recent turmoil.

At Ukraine's captured nuclear plant, Russian troops say 'ensuring security'

A Russian armoured personnel carrier marked with the letter V and equipped with a radiation detector stands guard on the premises of the Zaporizhzhia nuclear power plant.

Schultz defends Starbucks' tough union stance in testy hearing

Longtime Starbucks leader Howard Schultz defended the coffee chain's confrontational approach to unionization Wednesday, while insisting it had not violated US labor law in countering the campaign.

Credit Suisse concealed more than $700 mn from US govt: Senate

Embattled Swiss banking giant Credit Suisse has failed to disclose more than $700 million in previously undeclared accounts since 2014, in violation of a plea deal with the US Department of Justice, a Senate committee said Wednesday.

Stock markets climb on easing bank fears, Alibaba split

Stock markets advanced on Wednesday as fears of a banking crisis fade further in investors' rearview mirror while Chinese tech giant Alibaba's breakup plans boosted most Asian shares.

US VP unveils $1bn for African women's empowerment

The United States Vice President Kamala Harris announced a more than $1 billion initiative to improve women's economic empowerment in Africa on Wednesday at the end of the first leg of a three-nation trip to the continent.

US approves sale of anti-overdose drug Narcan without prescription

The US drug regulator announced Wednesday that Narcan, the treatment which reverses overdoses, can be distributed without prescription, a move that comes as the country battles an acute opioid addiction crisis.

Stock markets jump on easing bank fears, Alibaba split

Stock markets advanced on Wednesday as fears of a banking crisis fade further in investors' rearview mirror while Chinese tech giant Alibaba's breakup plans boosted most Asian shares.

Nigeria's cash shortage eases after strike threat

A lingering cash crunch in Nigeria, which saw long lines of customers at banks and cash dispenser machines was easing on Wednesday after the central bank reissued old naira notes back into circulation.

Montenegro says US, S.Korea seek extradition of crypto fugitive

The United States and South Korea have sought the extradition from Montenegro of fugitive cryptocurrency entrepreneur Do Kwon, the country's minister of justice said Wednesday, just days after he was arrested in the Balkan nation.

UK unveils plans to house asylum seekers in military bases

The UK plans to temporarily house asylum seekers in disused military bases and could use ferries and barges in the future in a bid to reduce hotel bills, immigration minister Robert Jenrick announced Wednesday.

Rare pink diamond worth $35 mn set for auction in New York

A rare, vividly rosy-purple diamond, called the Eternal Pink and valued at $35 million, is set to be auctioned off by Sotheby's as part of its Magnificent Jewels sale in New York in June.

Stock markets jump on easing bank fears, Alibaba restructure

Stock markets rose solidly Wednesday on easing fears of contagion from the banking crisis.

Ermotti back as UBS CEO to handle Credit Suisse takeover risks

UBS announced Wednesday it will bring back former chief executive Sergio Ermotti to handle the huge risks involved in the Swiss banking giant's controversial absorption of troubled rival Credit Suisse.

'Lily Savage', UK star who made drag mainstream, dies at 67

The British royal family led tributes Wednesday to comedian and entertainer Paul O'Grady who made drag culture mainstream with his alter ego Lily Savage.

France probes case of man gravely injured at water protest

French prosecutors said Wednesday they were probing the case of a man seriously wounded at a demonstration over access to water, after his family filed a criminal complaint.

Musk and experts call for halt in 'giant AI experiments'

Billionaire mogul Elon Musk and a range of experts called on Wednesday for a pause in the development of powerful artificial intelligence (AI) systems to allow time to make sure they are safe.

Alibaba's overhaul: a 'smart' move after China crackdown

Alibaba, China's biggest e-commerce company, has announced plans to split its business into six groups, in one of the most significant overhauls of a leading Chinese tech firm to date.

Germany to open its doors as labour shortage bites

An apprenticeship at a steelmaker brought Steven Maillot from the French island of Reunion in the Indian Ocean to Eisenhuettenstadt in Germany, a stone's throw from the Polish border.

Hong Kong art market hits pre-pandemic highs despite curbs

As thousands of visitors streamed through a Hong Kong exhibition hall and deals were struck for works by Picasso and Yayoi Kusama, art collectors celebrated the Asian financial hub's return to its bustling heyday.

UBS brings back Ermotti as CEO to lead Credit Suisse takeover

UBS announced Wednesday it was bringing back former CEO Sergio Ermotti to lead the Swiss banking giant's controversial acquisition of troubled rival Credit Suisse.

Sergio Ermotti back as UBS chief for Credit Suisse takeover

Sergio Ermotti will return as CEO of Swiss banking giant UBS to pilot the controversial acquisition of troubled rival Credit Suisse, its board announced Wednesday.

Senegal's gold rush brings hope and despair

Mohamed Bayoh climbed into the deep, pitch-black hole, hoping to emerge with a nugget that would change his life.

'Just unimaginable': Nashville residents reel from school shooting

Robin Wolfenden was practicing yoga on her balcony on a spring morning in Nashville when she heard the sirens -- the sound of first responders rushing to the scene of America's latest school shooting.

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