Chery and BYD face $53 million repayment after audit questions Chinese green-car subsidies
Two of China’s biggest electric-vehicle makers may have to return a combined 373 million yuan (about $53 million) in state aid after a government au...
Saudi Arabia has reduced oil prices for Asia by 40 cents per barrel, its first cut in three months. This follows OPEC+'s decision to increase supply by 138,000 barrels per day for April. The move aligns with market expectations, as Russian and Iranian oil supplies to China rise.
"Saudi Arabia eases oil prices for Asia as market reacts to OPEC+ supply hike"
Saudi Arabia, the world’s leading oil exporter, has reduced its crude oil prices for Asian buyers in April, marking the first price cut in three months. This move aligns with market expectations and follows OPEC+’s decision to gradually increase oil supply.
State-owned oil giant Saudi Aramco has lowered the official selling price (OSP) for its flagship Arab Light crude by 40 cents, bringing it to $3.50 per barrel above the average of Oman and Dubai prices. The reduction comes after last month’s peak of $3.90, which was the highest in over a year, driven by tighter U.S. sanctions on Russian oil that disrupted global trade. Prices for other crude grades sold to Asia have also been lowered.
OPEC+, which accounts for nearly half of global oil production, has approved a modest increase of 138,000 barrels per day for April—its first output hike since 2022. Meanwhile, Russian and Iranian oil supplies to China are rebounding, helped by non-sanctioned tankers seeking high profits. This shift is expected to ease supply concerns while reshaping market dynamics in the coming months.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
On July 4, Azerbaijani President Ilham Aliyev met with Turkish President Recep Tayyip Erdoğan in Khankendi, reaffirming the deep-rooted alliance between the two nations.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
European shares dropped on Friday after President Donald Trump intensified tariff threats against the EU, casting doubt on trade talks and dampening investor confidence.
Turkmenistan has gathered 1.407 million tonnes of wheat, matching its 2025 goal after a round-the-clock harvest on 690,000 hectares that officials say was bolstered by new combines and higher state purchase prices.
Azerbaijan Railways CJSC signed a Memorandum of Understanding with the Chinese company 'Xi'an Free Trade Port Construction and Operation' and has opened its representative office and container terminal in the Xi'an International Port.
The UK and Japan have signed a Memorandum of Cooperation (MoC) aimed at enabling increased UK investment into Japan, further strengthening the economic ties between the two nations.
German inflation eased to 2.0% in June, the federal statistics office said on Thursday, confirming preliminary data.
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