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On March 30th, Alibabas DAMO Academy and medical equipment company Neusoft Medical signed a strategic cooperation agreement. Leveraging Neusoft Medicals advanced CT equipment and its supply chain system covering more than 130 countries worldwide, the two parties will deeply integrate DAMO Academys "plain CT + AI" technology to jointly promote the widespread adoption of AI for early screening of multiple cancers.Rio Tinto: Damaged facilities at the Port of Capilambert are under repair, and shipping will resume in the coming days.On March 30th, it was reported that on March 28th, Jiangsu Governor Liu Xiaotao met with Li Xiang, Chairman of Li Auto, in Changzhou. Liu Xiaotao stated that he hopes Li Auto will leverage its advantages as a leading enterprise, strengthen its independent R&D in automotive-grade chips and core components, deepen cooperation with upstream and downstream industries in Jiangsus industrial chain, and jointly build an internationally advanced new energy vehicle industrial cluster. He added that Jiangsu will continue to provide high-quality services and grow together with the company. Li Xiang introduced the companys development layout and future plans in Jiangsu. He stated that in the future, the company will be guided by innovation, focusing on application scenarios to deepen industry-academia-research collaboration, accelerate the deployment of embodied intelligence, and make new contributions to Jiangsus high-quality development.S&P: However, given the increased spending on investment and economic support measures, Japans fiscal deficit is expected to widen further over the next two years.S&P: Strong income growth over the past three years has led to a faster-than-expected improvement in Japans fiscal situation.

As Japan plans a Cabinet reshuffle, GBP/JPY is aiming for a two-week high near 169.00

Alina Haynes

Nov 22, 2022 15:03

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During the Tokyo trading session, the GBP/JPY pair has extended its recovery and is seeking to cross the 168.00 threshold. As market sentiment improves, the cross approaches a two-week high close to 169.00. Despite projections of a slower pace of rate hikes by the Bank of England, the British pound is expected to continue its upward trajectory (BOE).

 

The public is still arguing if the Autumn Statement has restored confidence and capability in the UK's economic prospects or has worsened the forecasted picture.

 

Shell, a provider of renewable energy and energy solutions, is reconsidering its expansion plans in the British energy market after the incoming UK government announced windfall taxes. Prime Minister Rishi Sunak and Chancellor Jeremy Hunt increased the tax rate from 25% to 35% in the long-awaited "memorial service for Trussonomics."

 

The expanded tax mentioned in the Chancellor's Autumn Statement is leading Shell to reconsider a number of ongoing projects, including North Sea investments and renewable energy programs, according to David Bunch, chairman of Shell UK.

 

UOB economists maintain their prediction of a 50 basis point (bps) change in the United Kingdom's interest rate at its monetary policy meeting in December. They feel the BOE still has work to do, given that Hunt has decided to delay the majority of the severe repercussions of fiscal consolidation, which means fiscal policy will do little to combat inflation."

 

Prime Minister Fumio Kishida of Japan told Mainichi that investors in Tokyo are becoming anxious because the Japanese government expects to reshuffle its Cabinet before the end of the year. This may result in a period of Japanese yen volatility. On the economic front, Thursday's release of the PMI results is anticipated by investors. The Jibun Bank Manufacturing PMI is considered stable at 50.7. While Services PMI is expected to decline significantly to 53.1%, Manufacturing PMI is expected to climb marginally to 54.2%.

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