News that Shapes the Views
India and China End Himalayan Border Stand-off. Indian troops have withdrawn from a disputed Himalayan border area, ending a two-month stand-off only one week before a scheduled visit by Indian Prime Minister Modi to China.
Indian Railways to Get $44 billion Safety Revamp. The Indian government has announced a US$ 44 billion revamp plan for Indian Railways focused on safety, including track detection measures and redevelopment of 65 stations and raising the average speed of trains.
SoftBank’s Vision Fund Invest US$2.5bn in India’s Flipkart. Japan’s SoftBank Group has made the largest investment in India’s tech sector to date, investing US$2.5bn in online retailer Flipkart, the Bengaluru headquartered firm said in a statement on August 10.
US Launches Formal Trade Investigation into China. The United States will investigate China’s policies and practices related to technology transfer, IP and innovation to determine if the behaviour is “unreasonable or discriminatory” or restricts US commerce, US Trade Representative Lighthizer said on Aug 18 in a statement.
China Moves to Curb Overseas Acquisitions. The Chinese government has served notice on the country’s foreign investment spree in football clubs, skyscrapers and Hollywood as it moves to curb rising levels of debt among domestic companies.
China’s Yuan Edges up, Fixing at Strongest in Nearly 11 Months. China’s yuan firmed against the U.S. dollar on August 14 after the central bank guided the currency higher for the fifth straight day, setting the midpoint at 6.6601, its strongest in nearly 11 months.