Real-time News

According to Al Jazeera, Iran denies firing at a Saudi airbase.

On June 8 local time, Xi Jinping, General Secretary of the CPC Central Committee and President of China, arrived in Pyongyang to begin a state visit to North Korea.

Goldman Sachs now expects the Federal Reserve to keep interest rates unchanged in 2026.

On June 8th, Guo Fangming, Director of the Economic Construction Department of the Ministry of Finance, stated at a State Council policy briefing that the Ministry of Finance is coordinating various funding channels to support key urban renewal tasks. These include subsidies for urban affordable housing projects, local government special bonds, central government budgetary investment, and ultra-long-term special treasury bonds. During the 15th Five-Year Plan period, the central government will maintain substantial support and continuously optimize policy design to improve the efficiency of fund utilization. In addition to fiscal support, tax support policies will be implemented simultaneously, and eligible urban renewal entities can enjoy existing tax incentives.

The Hang Seng Index narrowed its decline to 0.94%, after falling more than 2% earlier in the session, with heavy machinery, food, oil, and dairy stocks performing strongly.

On June 8th, Chen Shaopeng, Director of the Department of Building Energy Conservation and Technology of the Ministry of Housing and Urban-Rural Development, stated at a State Council policy briefing that the total length of urban underground pipe networks in my country is currently approximately 3.9 million kilometers, with about 7,700 kilometers of underground integrated pipe corridors already built. During the 15th Five-Year Plan period, approximately 770,000 kilometers of urban underground pipe networks will continue to be constructed and upgraded, including approximately 200,000 kilometers of gas pipelines, 175,000 kilometers of drainage pipelines, 175,000 kilometers of water supply pipelines, 100,000 kilometers of sewage pipelines, and 120,000 kilometers of heating pipelines. This will enhance urban safety and resilience while also stimulating effective investment.

On June 8th, Qin Haixiang, Vice Minister of Housing and Urban-Rural Development, stated at a State Council policy briefing that the "15th Five-Year Plan for Urban Renewal" is the first national-level special plan in my country's urban renewal field, clearly defining the goals, key tasks, and major projects for the 15th Five-Year Plan period. Going forward, local governments will refine their local urban renewal goals, tasks, and measures according to the plan, addressing each issue one by one.

On June 8th, Saudi Arabia cut its official selling price for its main crude oil shipments to Asia for the second consecutive month, but the premium for its crude in its largest market remains near its highest level in decades. Saudi Aramco lowered the price of its Arab Light crude for shipments to Asia by $6 per barrel next month, bringing the premium over the average price in Oman and Dubai to $9.50 per barrel. This cut was larger than the $5 per barrel reduction expected by refiners and traders. Global oil markets remain disrupted as negotiations between the US and Iran to extend the ceasefire stall and the Strait of Hormuz remains closed. With tankers stuck in the Persian Gulf and empty ships unable to enter to load new cargoes, the Middle East has drastically reduced production, shutting down oil fields and slowing or halting refinery operations.

June 8 - Saudi Aramco: Saudi Arabia has set the official selling price for its Arab Light crude oil sold to Asia in July at a premium of $9.50 per barrel over the Oman/Dubai average, a decrease of $6 per barrel.

On the morning of June 8, Xi Jinping, General Secretary of the CPC Central Committee and President of the People's Republic of China, departed Beijing by special plane for a state visit to the DPRK at the invitation of Kim Jong Un, General Secretary of the Workers' Party of Korea and Chairman of the State Affairs Commission of the Democratic People's Republic of Korea. Accompanying him on the trip were: General Secretary Xi Jinping, Peng Liyuan (wife of the President), Cai Qi (member of the Standing Committee of the Political Bureau of the CPC Central Committee and Director of the General Office of the CPC Central Committee), Wang Yi (member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs), and others.