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“China’s May Industrial Output Up by 3.5%”

BEIJING: China’s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery. The economic rebound seen earlier this year has lost momentum in the second quarter, prompting China’s central bank to cut some key interest rates this week for the first time in nearly a year, with expectations of more to come.
Business

Oil Prices Set to Rise on Optimistic China Demand

NEW YORK/SINGAPORE: Oil prices were set to snap a two-week losing streak despite trading marginally lower early on Friday, amid optimism about higher energy demand from top crude importer China and a weaker dollar, according to Reuters. Brent futures dipped 17 cents, or 0.2 percent, to $75.50 a barrel by 6:41 a.m. Saudi time, while US West Texas Intermediate crude dropped 16 cents, also 0.2 percent, to $70.46 a barrel. Both benchmarks surged about 3 percent during the prior session.
Business

“Russian Ruble Gains Slightly Amid New Western Sanctions”

LONDON: The Russian ruble firmed on Friday, pushing back past the level of 80 to the US dollar, helped by higher oil prices but still hampered by reduced foreign currency supply and the latest Western sanctions, according to Reuters. By 11:03 a.m. Saudi time, the ruble was 0.4 percent stronger against the dollar at 79.93, and had gained 0.4 percent to trade at 86.22 versus the euro. It had firmed 0.3 percent against the yuan to 11.37.
Business

Oil prices rise as US debt default risk diminishes

SINGAPORE: Oil prices rebounded on Friday from losses of more than 1 percent the previous day as investors turned cautiously optimistic over the fading risk of a US debt default, according to Reuters. Brent futures rose 59 cents, or 0.8 percent, to $76.45 a barrel by 7:20 a.m. Saudi time, while US West Texas Intermediate crude climbed 48 cents, or 0.7 percent, to $72.34.
News

Challenges After Venezuela Summit: A Tough Road Ahead

Conference in Colombian capital marks positive step, analysts say, but quick fix to Venezuelan crisis unlikely.
News

Washington Declaration: A Threat to Kim Jong Un?

We take a look at the significance of the declaration, and whether it could make North Korea change its direction.
News

China to Boost Military Ties with Pakistan

Defence ministry makes the statement during the maiden visit of Pakistan army chief General Syed Asim Munir to Beijing.
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