Day: May 26, 2025

China’s Li Qiang calls for ‘vibrant economic circle’ with Asean, Gulf states

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Chinese Premier Li Qiang on Tuesday urged Asean and Gulf state leaders to increase cooperation with Beijing, his call coming at a time when China is seeking to strengthen global economic ties amid intractable trade tensions with the US. Advertisement Addressing the inaugural summit involving China, the Association of Southeast Asian Nations and the Gulf Cooperation Council (GCC), Li said that the three sides could create a “vibrant economic circle” through deeper exchanges to benefit each nation as well as global development. 01:47 Chinese Premier Li Qiang hails first-ever three-way…

India’s remittance tax woes in Trump’s ‘big, beautiful’ bill

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This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. India is now the fourth-largest economy in the world, government think-tank Niti Aayog has claimed, as the IMF’s growth forecast for 2025 has placed the country a shade ahead of Japan. But these are just projections, and this Friday’s GDP figures will only provide a picture for the last quarter. It’s a fascinating race to watch and we’ll…

India’s crypto industry urges tax cuts as Trump support softens New Delhi stance

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India’s cryptocurrency industry is lobbying for cuts to taxes that have curbed domestic trading, in a bid to take advantage of what it sees as New Delhi’s softening stance towards digital assets as lawmakers negotiate a wider trade deal with the US. Once a pariah sector in India because of regulators’ suspicion about the potential for criminal activity, policymakers’ attitudes towards crypto have been thawing. Executives at exchanges told the Financial Times that Prime Minister Narendra Modi’s government had become markedly more receptive and engagement more frequent following Donald Trump’s…

India’s crypto industry urges tax cuts as Trump support softens New Delhi’s stance

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Stay informed with free updates Simply sign up to the Indian business & finance myFT Digest — delivered directly to your inbox. India’s cryptocurrency industry is lobbying for cuts to taxes that have curbed domestic trading, in a bid to take advantage of what it sees as New Delhi’s softening stance towards digital assets as lawmakers negotiate a wider trade deal with the US. Once a pariah sector in India because of regulators’ suspicion about the potential for criminal activity, policymakers’ attitudes towards crypto have been thawing. Executives at exchanges…

Macron touts France as ‘reliable’ partner for south-east Asia

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. French President Emmanuel Macron has begun a six-day visit to Vietnam, Indonesia and Singapore in which he will tout France and Europe as trade and security partners of choice for a region buffeted by tensions between China and the US. The push for closer trade and security co-operation from Macron, who arrived in Vietnam late on Sunday, is intended to contrast with an increasingly militarily assertive China and the imposition…

Chinese EV shares tumble as BYD sparks ‘rat race’ price war fears

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Stay informed with free updates Simply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox. Shares in BYD and other Chinese carmakers tumbled on Monday, after the electric vehicle champion fired a new salvo in a prolonged price war. Hong Kong-listed shares in the Shenzhen-based company fell nearly 9 per cent, while its rivals Geely, Li Auto and Xpeng lost 7 per cent, 5 per cent and 4 per cent respectively.  BYD announced a fresh round of price cuts for more than 20 models over…

China’s ambassador hits out at Australia’s ‘questionable’ Darwin Port plan

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China’s ambassador to Australia has described the Australian government’s plan to end a Chinese firm’s control of the strategically located Darwin Port as “questionable”, saying the company should not be punished. Advertisement Chinese company Landbridge Group was awarded a 99-year lease of the port in 2015, under a deal originally approved by the Northern Territory government, a move that was criticised by then US president Barack Obama. Last month, Australian Prime Minister Anthony Albanese said his government was working on a plan to buy back Darwin Port from its Chinese…

China student says college made her ‘take off trousers’ for period leave

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A college in Beijing has found itself at the centre of public fury after it allegedly asked a student to prove she was on her period to qualify for sick leave. A viral video, filmed inside what appears to be a clinic and posted to social media this month, shows a young woman asking an older woman: “Does every menstruating girl have to take off their trousers and show you before they can get a sick note?” “Basically yes,” the older woman replies. “This is a school rule.” Local media…

China’s pro-wrestlers search for a star to bring the sport out of the shadows

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Rising from the ground with 73kg of writhing muscle on his shoulders, Wang Tao grimaced. The man whose legs were wrapped around his head was not giving up, pulling at Wang’s silver-tipped hair, dyed especially for the occasion. But Wang knew what he had to do. Reaching up with one arm, he grasped his opponent’s neck, and pulled forwards, flinging him to the ground. Seconds later, Wang had him pinned to the floor for a three-count, and had successfully defended his title as Middle Kingdom Wrestling’s “Belt and Road” champion.…