EUR/USD 1.15853
-0.568%
Gold 4458.14
-3.118%
Oil 82.713
-0.301%
USD/JPY 160.075
0.430%
GBP/USD 1.35378
-0.402%
GBP/JPY 216.693
0.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 29th, according to "Optics Valley of China," Wuhan Xinxin Semiconductor Manufacturing Co., Ltd. (Wuhan Xinxin) released its "Chip-Optics Plan." Over the next ten years, the company will be strategically guided by "optical sensing interconnection and 3D in-memory computing," building an internationally competitive specialized process wafer manufacturing and 3D integration industrial platform. It aims to create the leading industry cluster in "3D Link-Optoelectronic Fusion-SOI," striving to quadruple its production capacity, drive the coordinated development of a trillion-yuan-level upstream and downstream industrial chain ecosystem, and attract and cultivate over 10,000 high-end semiconductor talents.August 29th - The State Administration for Market Regulation released data today (August 29th) showing that 35,000 new foreign-invested enterprises were established nationwide in the first half of the year, a year-on-year increase of 7.0%. In terms of investment regions, the growth of foreign-invested enterprises in major export provinces and border provinces was driven by both. In the first half of the year, the growth rates of newly established foreign-invested enterprises in major export provinces such as Hainan, Shandong, Guangdong, and Jiangsu were 38.6%, 15.2%, 8.1%, and 6.8%, respectively; while the growth rates in border provinces such as Heilongjiang, Inner Mongolia, Guangxi, and Jilin reached 79.5%, 29.1%, 16.6%, and 12.0%, respectively.On August 29th, it was reported that a landslide dammed lake had formed near the confluence of the Tsogyal River in Nepal and the Purupuqiangzangbu River in my country, caused by the mudslide that occurred on the Nepalese side on August 26th. According to satellite remote sensing imagery taken at 7:38 AM on August 29th, the surface area of the Purupuqiangzangbu landslide dammed lake was 99,000 square meters, a decrease of 5,000 square meters compared to 12:00 PM on the 28th and a decrease of 21,000 square meters compared to the 27th. This indicates that the landslide dam is slowly overflowing and the water volume is gradually decreasing.On August 29th, OpenAI announced on its X platform that it will be terminating its partnership with its AI programming assistant Cursor following its acquisition by SpaceX. In another post on its website, OpenAI stated that it had notified Cursor of the phased termination of the contract, with a proposed shutdown date of November 12th. The post read, "We made this choice because, based on past experiences of Musks companies breaching contracts, we cannot be certain that SpaceX will use our technology within the scope of our terms of service."Nepalese police: The death toll from the Nepal floods has risen to 626.

Oil prices rise as Russia faces sanctions

Haiden Holmes

Oct 24, 2022 14:11

83.png


On Monday's early Asian trading session, oil prices surged due to expectations of tighter global supplies ahead of European Union sanctions on Russian oil.


Brent crude prices increased 54 cents, or 0.6%, to $94.04 per barrel by 01:25 GMT, while U.S. West Texas Intermediate crude futures increased 51 cents, or 0.6%, to $85.56 per barrel.


Brent increased by 2% last week as a result of a weaker dollar and expectations that China's COVID-19 restrictions may be lifted, allowing for a revival in demand from the world's second-largest consumer.


On December 5, when the EU ban on Russian imports goes into effect, disruptions in the world oil supply are anticipated. The coalition intends to halt imports of Russian oil products in February.


Even as it prepares to raise rates in early November, there is a growing feeling within the Federal Reserve to either slow down or lower the pace of future rate increases.


A delay in Fed rate hikes could diminish the U.S. dollar's strength, which has been a drag on commodities prices. A declining dollar reduces the price of dollar-denominated commodities, such as oil, for holders of foreign money.


On Sunday, China's Xi Jinping won a historic third term as president, confirming his status as the nation's most powerful leader since Mao Zedong.


Analysts do not anticipate a significant movement in policy direction, particularly Xi's goal of zero COVID.


Brent climbed last week despite the fact that the U.S. President Joe Biden announced the sale of the last 15 million barrels of oil from the U.S. Strategic Petroleum Reserves. The sale is part of an unprecedented 180 million-barrel release that began in May. Biden stated he will restore supply when the price of U.S. crude approaches $70 per barrel.


ANZ analysts wrote in a note that the recommendations for replenishing the reserve were of greater interest to the market.


The statement by Vice President Biden that the United States will not purchase crude oil until the price hits USD$70 per barrel provides a significant support level.


Baker Hughes Co., a provider of energy services, stated on Friday that U.S. energy companies added oil and natural gas rigs for the second consecutive week, as relatively high oil prices encourage companies to drill more.

Suggestion