live Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
China’s cabinet on Thursday set fresh rules for its nationwide social-credit system, promising tighter control over personal data and stronger penalties for fraud as it seeks to ease public fears of surveillance.
The State Council said it would “promote high-quality development” of the ratings scheme, which scores firms, officials and citizens on their trustworthiness, by creating a long-term deterrent to dishonest conduct.
Under the guidelines, any records of wrongdoing—and the sanctions they trigger—must be collected, stored and shared strictly in line with Chinese law. Officials pledged that public credit disclosures would protect commercial secrets and individual privacy, while serious breaches could still bar offenders from loans, subsidies or public procurement.
Responding to criticism that the system harvests data with scant oversight, Beijing vowed to learn from international practice and to tread cautiously in areas that have raised “significant public concerns.”
Financial institutions, credit-rating agencies, internet platforms and data brokers will face closer scrutiny over how they gather, process and release personal information.
China began building the social-credit framework in 2014 to combat tax evasion, loan defaults and counterfeit goods. But weak regulation and enforcement have fuelled anxiety that the programme could become intrusive, prompting Thursday’s attempt to tighten safeguards while preserving the goal of a “fair and honest market environment,” the cabinet said.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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