EUR/USD 1.16945
0.142%
Gold 4585.26
1.464%
Oil 86.658
0.855%
USD/JPY 158.701
-0.220%
GBP/USD 1.36523
0.165%
GBP/JPY 216.668
-0.046%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hezbollah: Washington is seeking to create turmoil in Lebanon.On August 21, the State Financial Regulatory Commission issued a notice regarding the implementation of the "Measures for Asset-Liability Management of Insurance Companies." The notice stipulates that before making major investment decisions, insurance companies should comprehensively assess and analyze the impact of investment activities on the companys and the corresponding accounts asset-liability matching, taking into account factors such as solvency constraints, risk appetite, market environment, and regulatory requirements. Major investments, as defined in these measures, include single major equity investments, single major stock investments or acquisitions of listed companies, single investment properties held in the form of ownership or equity in project companies, or investments in a single target asset with a cumulative investment amount exceeding 3% of the companys total assets at the end of the previous quarter or RMB 3 billion (or equivalent foreign currency). Investments in domestic central government bonds, provincial government bonds, quasi-government bonds, policy bank bonds, and bank deposits, cash, and liquidity management instruments are excluded.German Interior Minister: There have been multiple cases and arrests involving low-level agents.On August 21, the Central Cyberspace Affairs Commission issued the "Action Plan for Promoting High-Quality Development of Cyberspace Enterprises (2026-2030)." The plan proposes broadening financing channels for cyberspace enterprises, building a diversified financing support system, effectively leveraging the role of government investment funds, and supporting early-stage, small-scale, long-term, and hard-tech investments. It encourages financial institutions to explore and develop financial products in the cyberspace field, and to use patents, trademarks, and data as important reference factors in credit assessment. It supports eligible cyberspace enterprises to list and raise funds. It supports high-growth innovative enterprises to list and raise funds domestically and overseas, accelerates the domestic listing review process, and encourages listing on the Science and Technology Innovation Board and the Growth Enterprise Market. It broadens exit channels beyond IPOs, encourages the development of private equity secondary market funds (S funds) and M&A funds, and further facilitates a virtuous cycle of "investment-exit-reinvestment."On August 21, the Central Cyberspace Affairs Commission issued the "Action Plan for Promoting High-Quality Development of Cyberspace Enterprises (2026-2030)." The plan proposes strengthening anti-monopoly supervision and enforcement in the cyberspace sector, regulating suspected monopolistic behavior in key areas according to law, and strictly prohibiting enterprises from engaging in disguised "choose one of two" practices or other practices that exclude or restrict competition. It also calls for establishing and improving consultation mechanisms between platform enterprises and operators within their platforms on major issues, standardizing platform fee practices, and reducing the burden on operators within the platforms. Furthermore, it emphasizes addressing issues such as excessive subsidies and "involutionary" competition among cyberspace enterprises. Finally, it leverages the self-regulatory role of industry associations to guide enterprises in improving product quality and implementing a premium pricing system.

Oil Prices Climb As The EU Bans Most Russian Oil Imports

Charlie Brooks

May 31, 2022 11:42

o2.png


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.

Suggestion