“We certainly need to take strong measures to face the downward pressure,” Li told a news conference Friday at the close of the annual National People’s Congress session in Beijing. China’s annual gathering of leaders that started last week has delivered a raft of policy initiatives, while maintaining a focus on using tax cuts and other “targeted” measures to address the weakness in output. China’s deepening slowdown has pushed unemployment higher, intensifying pressure on that calibrated stimulus strategy.
The S&P BSE Sensex gained 0.7 percent to 38,024.32 at the close in Mumbai, taking its advance for the week to 3.7 percent, its biggest increase since the five days ended Nov. 2. “Foreign inflows have helped keep up market momentum and there are now gains on the table for local investors to pick up,” said Jitendra Panda, managing director at Peerless Securities Ltd. in Kolkata. The NumbersFifteen of 19 sub-indexes compiled by BSE Ltd. advanced, paced by a gauge of power companiesKotak Mahindra Bank Ltd. contributed the most to the index gain and had the largest move, increasing 4.3 percent.Reliance Industries Ltd. was the biggest drag on the index, declining 1.4 percent.
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Li's comments suggest Beijing is ready to roll out more forceful stimulus measures to ease strains on businesses and consumers. China has so far promised billions of dollars in tax cuts and infrastructure spending, as economic momentum is expected to cool further due to softer domestic demand and the trade war with the United States. Shares in China climbed on Friday after the government reiterated its commitment to boosting growth.
BEIJING (AP) — China will introduce more "preferential policies" for Taiwan so the self-governed island's residents can enjoy the same treatment as mainland Chinese citizens, Premier Li Keqiang said Friday.
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Vice Foreign Minister Choe Son Hui told reporters and diplomats Friday in Pyongyang that North Korea blamed the U.S.’s “gangster-like” demands for the breakdown in talks, according to the Associated Press. Choe said Kim would clarify his position on whether to continue his 15-month freeze on bomb and missile tests “in a short period of time,” the AP reported.
After more than a year of shadowy teaser images, Tesla's latest electric car, the Model Y, was finally revealed Thursday night. As Tesla CEO Elon Musk said, "We are bringing sexy back quite literally," with the mid-size SUV Y completing the Tesla line of Models S, 3, and X.Speaking to a crowded room at the Tesla Design Studio in Southern California, Musk confirmed that the car will cost 10 percent more than the Model 3, which has a base price of $35,000. The starting Model Y base price is $39,000 for about 230 miles of range. The original Tesla SUV, 2015's Model X, starts at $88,000.The Model Y is unveiled at last.Image: Tesla / screengrab Read more...More about Tesla, Electric Vehicles, Suv, Model Y, and Tech
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At least 50 people have died in mass shootings at two mosques full of people attending Friday prayers in New Zealand.
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The Model Y crossover that the chief executive officer debuted late Thursday in Hawthorne, California, will start being delivered to customers in the fall of next year. “More expensive customer deposits for Model Y are likely to reinforce bear concerns about Tesla’s cash,” Toni Sacconaghi, an analyst with Sanford C. Bernstein Co., said in a report Friday. Tesla shares fell as much as 5 percent and traded down 3.8 percent to $278.82 as of noon Friday in New York.
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Indonesia will hasten the release of its report on the October crash of Lion Air Boeing 737, the head of the nation's transport safety committee said on Friday. The crash, which killed all 189 people on board, was the first worldwide of Boeing Co's new 737 MAX jet. A second deadly incident occurred on Sunday with the crash of an Ethiopian Airlines MAX jet that killed all 157 people on board.
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