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BEIJING: Relax, eat out and shop. That’s the latest message from the Chinese government to its people, after months of warning them to stay indoors because of the coronavirus.
BEIJING: Asia’s top refiner China Petroleum & Chemical Corp, or Sinopec, will trim capital expenditures in 2020 by 2.5% from a year earlier amid plunging oil prices and tepid fuel demand caused by the coronavirus outbreak.
WUHAN, China: Chinese President Xi Jinping told U.S. President Donald Trump on Friday that he would have China's support in fighting the coronavirus, as Wuhan, the Chinese city where the outbreak emerged, reopened to incoming traffic.
SHANGHAI: China’s electric carmakers need to return production to normal levels in the next few months to prevent a bigger hit to supply chains already pressured by an unprecedented plunge in auto sales, according to the country’s third-biggest producer of batteries for the sector.
NEW YORK:Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
SINGAPORE: Oil prices jumped by 5% on Tuesday after the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus, although early gains were pared on demand concerns over the global spread of the Covid-19 coronavirus.
SHANGHAI: Chinese shares closed higher on Tuesday as new coronavirus cases in the mainland tumbled and as President Xi Jinping's visit to the virus' epicentre lifted sentiment, while weak data raised hopes for more policy measures to support the economy.
SINGAPORE: Oil prices jumped by 5% on Tuesday after the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus, although early gains were pared on demand concerns over the global spread of the coronavirus.
BEIJING: The coronavirus outbreak has hit global demand, but its impact on China's foreign trade is only temporary, the Commerce Ministry said on Thursday, adding that authorities would roll out more targeted support measures to stabilise supply chains.
BEIJING: China’s services sector had its worst month on record in February as new orders plummeted to their lowest level since the global financial crisis, a business survey showed, with economists urging swift support to avoid mass bankruptcies.