• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
1. Hungarian Prime Minister: Hungary will not allow other countries to allocate funds to Ukraine through the EU. 2. Ukrainian Air Force: Russia attacked Ukraine with 375 drones and 21 missiles. 3. According to RIA Novosti: Russian troops have taken control of Staritsa in the Kharkiv region of Ukraine. 4. Mayor of Kyiv: Following the Russian attack, heating has been cut off in nearly 6,000 buildings in the Ukrainian capital. 5. According to Interfax: Russia launched a large-scale attack last night on Ukrainian long-range drone bases and energy facilities. 6. Ukrainian Deputy Prime Minister: The Russian attack has caused power outages for at least 1.2 million users in Ukraine, including more than 800,000 in Kyiv. 7. Ukrainian official: The meeting on the Ukraine issue held in Abu Dhabi did make some progress. Another round of talks will be held in Abu Dhabi next week. 8. Ukrainian Foreign Minister stated that Russian President Putin coldly ordered a large-scale missile attack on Ukraine during a meeting with the Abu Dhabi delegation. 9. Ukrainian President Zelensky: Russias attack on energy facilities proves that the supply of air defense materials must not be delayed and that the air defense agreement reached with US President Trump in Davos must be fully implemented.January 25th – The Fourth Session of the 16th Beijing Municipal Peoples Congress opened at the Beijing Conference Center on the morning of January 25th. Mayor Yin Yong delivered the government work report. The report proposed vigorously developing high-tech industries. It called for consolidating and strengthening the foundation of the real economy, promoting the expansion of key integrated circuit projects, constructing a high-level international pharmaceutical innovation park, and advancing key projects across the entire ecosystem, including green advanced energy, new energy vehicles, robotics, and commercial aerospace. It also emphasized accelerating the construction of a global digital economy benchmark city, fully implementing the "Artificial Intelligence+" action plan, and building a national artificial intelligence application pilot base. Furthermore, it stressed promoting the construction of a future industry pilot zone and cultivating new growth points such as 6G, quantum technology, and biomanufacturing. Finally, it called for promoting the upgrading of traditional industries and facilitating the digital transformation of the manufacturing industry.January 25th - The Fourth Session of the 16th Beijing Municipal Peoples Congress opened on January 25th. Beijing Mayor Yin Yong delivered the government work report. This year, Beijing will optimize the implementation of key projects, accelerate the construction of key projects such as the "3 x 100" projects, proactively launch eligible major projects from the "15th Five-Year Plan," and solidly prepare project reserves, maintaining a strong momentum of "one project initiation and three backups." The city will continue to optimize its investment structure, strengthen industrial investment, increase investment in improving peoples livelihoods and upgrading consumption, leverage the investment capabilities of central government units and municipal enterprises, and promote major projects with a total investment of no less than 200 billion yuan to private capital.The U.S. Department of Energy issued an emergency order to deploy backup power resources to data centers and other critical facilities in Texas during the storm.January 25th – The Fourth Session of the 16th Beijing Municipal Peoples Congress opened at the Beijing Conference Center on the morning of January 25th. Mayor Yin Yong delivered the government work report. The report stated that during the 14th Five-Year Plan period, Beijing achieved remarkable results in high-quality economic development. The leading role of scientific and technological innovation has become more prominent. The pioneering reforms in Zhongguancun and the construction of the "two zones" have yielded fruitful results. R&D investment intensity ranks among the top in the world. The number of unicorn companies ranks first among all cities in China. The number of high-value invention patents per 10,000 people and the number of national-level specialized and innovative "little giant" enterprises have doubled compared to 2020. Three trillion-yuan-level and seven hundred-billion-yuan-level industrial clusters have been cultivated, and the endogenous driving force of economic development has become stronger.

After Soaring in The Previous Session Due to Russia's Sanctions, The Price of Oil Declines

Aria Thomas

May 12, 2022 09:37

O2.png


Oil prices declined in early Asian trading on Thursday, taking a breather after gaining more than 5 percent in the previous session in response to fresh Russian sanctions against some European gas firms.


On Wednesday, Russia sanctioned 31 enterprises located in nations that placed sanctions on Moscow during the February invasion of Ukraine.


At the same time, Russian gas flows to Europe via Ukraine decreased by a quarter, causing market concern. It was the first time since the invasion when exports via Ukraine were interrupted.


At 00:13 GMT, Brent crude futures decreased 9 cents to $107.42 a barrel. WTI crude prices dropped 13 cents per barrel to $105.58.


As a result of supply concerns following Russia's invasion of Ukraine in February, prices have climbed by roughly 35 percent so far this year.


The European Union continues to negotiate an embargo on Russian oil, which analysts say will tighten the market more and alter trade flows. The vote requires unanimity, but it has been delayed due to Hungary's staunch resistance.


As a result of China's efforts to stop the spread of coronavirus, fears of a decline in demand have curbed price increases.


Stephen Innes, managing partner of SPI Asset Management, predicts that oil prices will be capped in the near future unless China provides substantial policy support or policymakers embrace a different strategy to COVID, both of which seem highly improbable.