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On August 29th, at a thematic exchange event during the 2026 China International Big Data Industry Expo, an official from the National Data Administration stated that as of the end of July 2026, the total scale of intelligent computing nationwide reached 2.45 million PFLOPS (FP16). The eight national computing power hubs and three computing-power collaborative development zones have built up over 85% of the nations intelligent computing capacity. 1.45 million PFLOPS of intelligent computing power have been included in the monitoring scope of the national-level monitoring and scheduling platform, and the ability to intensively utilize computing resources and conduct integrated scheduling is continuously improving. Going forward, the National Data Administration will continue to optimize computing power layout to enhance supply capacity, strengthen monitoring and scheduling to improve utilization efficiency, deepen computing-power collaboration, cultivate the industrial ecosystem, and comprehensively promote the high-quality development of computing power.On August 29th, former Ukrainian Defense Minister Mikhailov Fedorov announced on the 28th that he had accepted an invitation to serve as an advisor to Italian Defense Minister Guido Croceto. Fedorov wrote on social media that he will serve as Crocetos defense innovation advisor, providing assistance in areas such as "modern warfare technology," and expressed his "gratitude for Crocetos trust and support." Last month, Fedorov was dismissed from his post as defense minister by Ukrainian President Zelensky after only six months in office, sparking large-scale protests in many parts of Ukraine. Zelensky subsequently dismissed Armed Forces Commander-in-Chief Oleksandr Sørsky, with whom Fedorov had a strained relationship. In mid-August, Fedorov released a video calling for wartime elections in Ukraine, stating that the country was facing a governance crisis. Several days later, Zelenskyy stated that Ukraine was not yet ready to hold wartime elections, otherwise it would face a significant danger of national disintegration.On August 29, Kyiv Oblast Governor Viktor Tkachenko announced on social media that Russia had attacked a warehouse in the Butcha district of the region, killing 37 people. Tkachenko stated that rescue workers and relevant departments were still conducting rescue and cleanup operations at the scene. Earlier, Tkachenko said that Russian forces had been attacking Kyiv Oblast from August 27 to 28, targeting residential buildings, warehouses, and vehicles. One warehouse in the Butcha district was attacked, exploded, and caught fire, which spread to nearby residential buildings, causing dozens of deaths and injuries.Qatari Foreign Ministry: The Qatari Prime Minister and Foreign Minister spoke by phone with the Turkish Foreign Minister to discuss efforts to reduce regional tensions.On August 29, local time, Irans Islamic Revolutionary Guard Corps announced that it had dismantled a terrorist group in the Sarawan district of Sistan-Baluchistan province in southeastern Iran. The Revolutionary Guard stated that the group, affiliated with the United States and Israel, was attempting to carry out a series of terrorist attacks in the province. The operation resulted in the seizure of 20 packages of explosives and explosive components, weapons and ammunition, Starlink equipment, and other items. The United States and Israel have not yet responded to the report.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.