:Oil prices edged higher for the third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment.Brent futures gained 22 cents, or 0.3 per cent, to $82.96 a barrel by 0253 GMT, while U.S. West Texas Intermediate
:Oil prices edged higher for the third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment.
The crude benchmarks have already climbed for four weeks in a row with supplies expected to tighten due to cuts from the Organization of the Petroleum Exporting Countries and allies like Russia, a group known as OPEC+. Some analysts say it could rise further in the short term. In China, the world's second-largest economy and second-biggest oil consumer, leaders pledged to step up policy support for the economy amid a tortuous post-COVID recovery, focusing on boosting domestic demand.In the euro zone, business activity shrank much more than expected in July as demand in the bloc's dominant services industry declined while factory output fell at the fastest pace since COVID-19 first took hold, a survey showed.
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Oil prices edge higher on tighter supply, China hopesOil prices edged higher on Tuesday, extending gains from the previous session, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment.Brent futures gained 7 cents at $82.81 a barrel at 00:07 GMT, while U.S. West Texas Intermediate (W
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Top Chinese diplomat Wang Yi proposes talks with Japan, South KoreaThe last time the three countries met was in December 2019. Read more at straitstimes.com.
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Chinese chipmaker Hua Hong seeks up to $2.95 billion in mainland listingBEIJING : Chinese chipmaker Hua Hong Semiconductor said on Sunday it aims to raise up to 21.2 billion yuan ($2.95 billion)in a listing on the Shanghai stock exchange.The country's second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchang
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Chinese chipmaker Hua Hong seeks up to US$2.95 billion in mainland listingBEIJING: Chinese chipmaker Hua Hong Semiconductor said on Sunday (Jul 23) it aims to raise up to 21.2 billion yuan (US$2.95 billion)in a listing on the Shanghai stock exchange. The country's second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to t
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Oil rally takes a breather ahead of Fed, ECB rate hikesSINGAPORE : Oil prices eased on Monday as traders await more rate hike cues from U.S. and European central banks, with tightening supply and hopes for Chinese stimulus underpinning Brent at $80 a barrel.Brent crude futures dipped 41 cents, or 0.5 per cent, to $80.66 a barrel by 0045 GMT. U.S. West Texas I
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Chinese property giant Country Garden extends losses on debt worriesSHANGHAI : Shares in China's property developer Country Garden and its property service arm Country Garden Services Holdings tumbled on Monday, extending losses from the previous week on debt concerns.Country Garden Services Holdings slumped more than 6 per cent, while Country Garden fell more than 3 per
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