NEW YORK (Reuters) – China’s diesel demand fell by 11% year over year to 3.9 million barrels per day in June, the biggest percentage drop since July 2021, the U.S. Energy Information Administration said on Thursday. WHY IT’S IMPORTANT Sluggish fuel demand in China has weighed heavily on oil markets this year, unnerving market participants …
China’s diesel demand fell in June by most in three years, US EIA says Read More »
(This Aug. 14 story has been corrected to fix the spelling of the analyst’s name in paragraph 15) By Seher Dareen and Shariq Khan NEW YORK (Reuters) – Global jet fuel demand is poised to soften as a slowdown in consumer spending hits travel budgets, a shift that could weigh on oil prices in the …
Slowing global jet fuel consumption adds to oil demand concern Read More »
(This Aug.14 story has been corrected to fix the timeline for Polestar 4 South Korean production to mid 2025 from the second half of 2024, in paragraph 7) By Abhirup Roy and Marie Mannes (Reuters) – Swedish electric-vehicle (EV) maker Polestar moved one step further in avoiding major tariffs imposed on Chinese-made cars on Wednesday …
Swedish EV maker Polestar starts U.S. production, avoiding heavy tariffs Read More »
BEIJING (Reuters) -China will impose export limits on antimony and related elements in the name of national security, its commerce ministry said on Thursday, Beijing’s latest move to restrict shipments of critical minerals in which it is the dominant supplier. China accounted last year for 48% of global mined output of antimony, a strategic metal …
China to limit antimony exports in latest critical mineral curbs Read More »
By Orathai Sriring and Devjyot Ghoshal BANGKOK (Reuters) – The political turmoil unleashed by the dismissal of Thai Prime Minister Srettha Thavisin is likely to deal another blow to the already struggling economy, where millions of people drowning in debt have been waiting for long-delayed cash handouts. Southeast Asia’s second largest economy grew 1.5% in …
Analysis-Political turmoil threatens prospects of Thailand’s floundering economy Read More »
BEIJING, Aug 15 (Reuters) – China’s commercial banks sold a net $54.5 billion of foreign exchange in July, compared with a net sale of $34.9 billion in June, the foreign exchange regulator said on Thursday. {For the January to July period, net forex sales stood at $168.2 billion ,} the State Administration of Foreign Exchange …
China commercial banks sell net $54.5 billion of forex in July – FX regulator Read More »
(Reuters) – Local financial authorities in eastern China have asked some rural commercial banks to rein in the scale of investments in public funds, three sources with knowledge of the matter said. The rural banks are required to count public fund investment under their investments via special purpose vehicles, which together should not exceed 2.5% …
China asks rural commercial banks to rein in public fund investment, sources say Read More »
MOSCOW (Reuters) – Russia’s seaborne exports of oil products to Asia via the Cape of Good Hope almost doubled month-on-month in July to a record high of 1.1 million metric tons, as more vessels take the route around Africa to avoid the Suez Canal shortcut, LSEG shipping data showed. The bulk of the exports were …
Russia’s fuel supplies to Asia around Africa hit record high in July, LSEG data shows Read More »
SINGAPORE (Reuters) – Adani Power said on Thursday it was committed to supplying electricity to Bangladesh, saying a recent amendment to power export rules does not affect its existing contract. The amendment by the government facilitates connectivity to the Indian grid but does not impose any obligation on India to buy electricity, Adani Power said …
Adani Power says it is committed to supplying electricity to Bangladesh Read More »
By Shivangi Lahiri and Adwitiya Srivastava (Reuters) -Singapore Telecommunications’ first-quarter earnings climbed, mainly buoyed by a net exceptional gain from diluting its stake in Indian telecom provider Bharti Airtel and the sale of some capital assets by associate Globe Telecom. Singtel’s net profit rose 42.9% to S$690 million in the first quarter ended June 30 …
SingTel’s profit rises on exceptional gain from stake reduction in India’s Airtel Read More »
