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January 23 – In 2025, 70,392 new foreign-invested enterprises were established nationwide, a year-on-year increase of 19.1%; actual utilized foreign investment amounted to RMB 747.69 billion, a year-on-year decrease of 9.5%. By industry, actual utilized foreign investment in manufacturing reached RMB 185.51 billion, and in services RMB 545.12 billion. Actual utilized foreign investment in high-tech industries reached RMB 241.77 billion, with actual utilized foreign investment in e-commerce services, medical equipment and machinery manufacturing, and aerospace and equipment manufacturing increasing by 75%, 42.1%, and 22.9%, respectively. By origin, actual investment from Switzerland, the UAE, and the UK increased by 66.8%, 27.3%, and 15.9%, respectively (including investment data through free ports).January 23 – Data released by the Reserve Bank of India (RBI) on Friday showed that rising gold prices and the increased value of non-dollar assets drove the countrys foreign exchange reserves to their largest increase in over ten months. Indias foreign exchange reserves increased by $14.17 billion in the week ending January 16 – the largest increase since early March last year – reaching $701.4 billion. Despite the central banks intervention to support the rupee, foreign exchange reserves still increased. Sakshi Gupta, chief economist at HDFC Bank Limited, said, "Despite the RBIs intervention, the increase in reserves was due to the valuation effect of rising gold prices and the appreciation of non-dollar assets."French Finance Minister: All indications suggest that economic growth in 2025 will be closer to 0.9%, rather than the 0.7% we previously expected.On January 23, Pengling Co., Ltd. announced that its revenue for 2025 is expected to be between 2.78 billion and 2.88 billion yuan, compared to 2.461 billion yuan in the same period last year; net profit attributable to shareholders of the listed company is expected to be a loss of 228 million to 168 million yuan, compared to 77.6504 million yuan in the same period last year; net profit excluding non-recurring items is expected to be a loss of 240 million to 180 million yuan, compared to 75.0424 million yuan in the same period last year. The performance change is attributed to a decline in sales prices for the Hebei Xinou project, resulting in an estimated goodwill impairment of approximately 280 million yuan; non-recurring gains and losses of approximately 12 million yuan; and increased early-stage development investment in the thermal management project. This forecast is a preliminary estimate, and specific figures will be disclosed in the annual report. In addition, the actual controller plans to increase its holdings in the company by 20 million to 40 million yuan.Mizuho Bank raised its price target for Intel (INTC.O) to $48 from $41.

Oil Prices Climb As The EU Bans Most Russian Oil Imports

Charlie Brooks

May 31, 2022 11:42

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Oil prices increased on Tuesday as the European Union (EU) agreed to reduce its oil imports from Russia by the end of 2022, fueling fears of a tightening market already stressed for supply due to rising demand ahead of the peak summer driving season in the United States and Europe.


At 00:54 GMT, Brent crude futures for July, whose contract expires on Tuesday, rose 33 cents to $122.50 a barrel. The more popular August contract increased 33 cents to $117.93.


Futures contracts for U.S. West Texas Intermediate (WTI) crude were trading at $117.31 a barrel, an increase of $2.24 from Friday's closing. Due to a U.S. holiday, there was no settlement on Monday.


European Union leaders agreed in principle to reduce oil imports from Russia by 90 percent by the end of 2022, breaking a stalemate with Hungary over the bloc's heaviest sanction against Moscow since the invasion of Ukraine three months ago.


Due to the fact that the market has already factored in the supply limits, according to some analysts, oil price improvements may be modest.


SPI Asset Management Managing Partner Stephen Innes told Reuters that the market had "already factored in EU self-sanction and much less Russian oil moving to Europe this year"


Innes continued, "I believe the market is pricing in some more Asia demand via China; nevertheless, the glaring issues are the soaring gasoline prices at the pump, which could lead to some demand destruction over the driving season."


Following the removal of COVID-19 restrictions, China's demand is anticipated to increase. Shanghai has announced the end of its two-month lockdown and will permit the vast majority of residents in China's largest metropolis to leave their homes and drive cars beginning Wednesday.


On the production side, OPEC+ is expected to adhere to its agreement from last year at its meeting on Thursday, with a moderate July output rise of 432,000 barrels per day, according to six sources from OPEC+. This is in response to Western calls for a more rapid increase to curb skyrocketing prices.


The Organization of the Petroleum Exporting Countries and its allies, led by Russia, argue that the oil market is in equilibrium and that recent price increases are unrelated to underlying fundamentals.


In 2022, oil prices on both sides of the Atlantic reached their highest level in more than a decade and are up more than 55 percent so far in 2022.

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