china

South Korea inflation, US jobs report, China Covid-zero

India poised to become the third largest economy by 2030 India is projected to overtake Japan and Germany to become the world’s third-largest economy, S&P Global and Morgan Stanley forecasted in a report. S&P’s prediction is premised upon the projection that India’s annual nominal GDP growth will average 6.3% through 2030. Similarly, Morgan Stanley estimates …

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South Korea GDP, Caixin Manufacturing PMI, Japan Consumer Confidence

Temasek’s $245 million FTX loss ’caused reputational damage’ to Singapore, says deputy prime minister Singapore’s Deputy Prime Minister Lawrence Wong said the state sovereign wealth fund’s investment loss of $275 million in collapsed crypto exchange FTX is “disappointing and has caused reputational damage” to the city-state. But the investment loss does not mean the governance …

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China And India Are Buying Russian Crude At A 40% Discount

The European Union on Friday once again failed to reach an agreement on a price cap for Russian oil, with the bloc’s eastern-most members including Poland, Estonia, Latvia, and Lithuania objecting that the proposed $60-$70 per barrel for Russian crude is too generous and well above the rates Russia currently sells crude. European Commission Vice …

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China’s Zhengzhou, home to the world’s largest iPhone factory, ends Covid lockdown

Hong Kong CNN Business — The central Chinese city of Zhengzhou, home to the world’s largest iPhone factory, has lifted a five-day Covid lockdown, in a move that analysts have called a much-needed relief for Apple and its main supplier Foxconn. Zhengzhou is the site of “iPhone City,” a sprawling manufacturing campus owned by Taiwanese …

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Russia’s Pipeline Oil Exports To China Flat So Far This Year

Russia’s pipeline oil exports to China via the Eastern Siberia—Pacific Ocean (ESPO) oil pipeline were flat between January and October compared to the same period of 2021, according to China National Petroleum Corporation’s (CNPC) Vice President Huang Yongzhang. Russia sent 33.26 million tons of oil to China via pipeline in the first ten months of …

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China’s factory activity data misses expectations; Asia-Pacific markets mixed

China’s factory activity misses expectations, contracts for a second straight month China’s official manufacturing Purchasing Managers’ Index for November came in at 48, below the 50-point mark that separates growth from contraction. That’s lower than the expectations of analysts polled by Reuters, who predicted a reading of 49. October’s PMI was 49.2. PMI readings are …

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China’s factory activity data misses expectations; Asia-Pacific markets mixed

China’s factory activity misses expectations, contracts for a second straight month China’s official manufacturing Purchasing Managers’ Index for November came in at 48, below the 50-point mark that separates growth from contraction. That’s lower than the expectations of analysts polled by Reuters, who predicted a reading of 49. October’s PMI was 49.2. PMI readings are …

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Goldman Sachs sees ‘high probability’ of OPEC+ production cut

A group of some of the world’s most powerful oil producers is highly likely to take further measures to stem a price decline and try to balance the market, according to Goldman Sachs. OPEC and non-OPEC producers, an influential energy alliance known as OPEC+, will convene in Vienna, Austria on Dec. 4 to decide on …

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$60 Billion LNG Mega Deal Marks Chinese Influence In Middle East

In a world now where several major economies may need huge quantities of gas delivered very quickly and with very little notice, Qatar, as the top liquefied natural gas (LNG) exporter occupies the same sort of ‘swing producer’ position in the global gas market that Saudi Arabia used to hold in the oil market. Given …

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Auto stocks Tesla, Mercedes, GM, VW’s exposure to China: Goldman Sachs

After rare protests erupted in China at the weekend over stringent Covid-19 restrictions, investor focus has once again shifted to the country. Many global companies are heavily exposed to China, including some of the world’s biggest automakers, which generate between 20% and 40% of their worldwide sales in the country, according to Goldman Sachs. In …

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