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Business

China’s factory recovery gains strength in July

BEIJING: China’s factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels, adding to signs of recovery in the world’s second-largest economy.

Business

Aramco still aims for US$15bil investment in India’s Reliance

RIYADH: Saudi Aramco said it’s still working on a deal to buy a US$15bil stake in Reliance Industries Ltd’s refining and chemicals business, even as lower oil prices forces it to slash investment spending.

Business

Vietnam refinery processes first batch of Sokol crude

HANOI: Vietnam’s Dung Quat oil refinery has processed its first batch of Russian Sokol crude oil on a trial basis, as it seeks a replacement for shrinking domestic Bach Ho output, its operator Binh Son Refining and Petrochemical said.

Business

Saudi’s tourism landmark Al-Ula signs deal with Accor

RIYADH: Saudi Arabia has agreed with Europe’s biggest hotel group Accor for the group to expand and operate a resort at the US$20bil Al-Ula tourism project in the kingdom’s northwestern region, the Royal Commission for the project said.