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On January 30th, Inspur Software announced that it expects to achieve a net profit attributable to owners of the parent company of approximately RMB -270 million in 2025. In 2025, affected by tight funds for clients, delayed project bidding, and delayed delivery and acceptance, the companys operating revenue declined, and gross profit decreased. During the reporting period, the company improved management efficiency through refined management and strengthened accounts receivable and collection management, resulting in a significant improvement in the net cash flow generated from operating activities compared to the same period last year. However, due to the decline in operating revenue and gross profit, the company expects to incur a loss.On January 30th, Bainaqiancheng announced that it expects a net loss of 800 million to 1.2 billion yuan in 2025. Affected by intensified competition in the content market, the companys multi-format film and television content segment faced significant pressure during the reporting period. The subject matter and content expression of some existing projects were no longer suitable for the current audiences aesthetic and demand trends in the content market. The company systematically reviewed and optimized its existing projects. For projects under development and existing projects with poor returns and significant uncertainties, measures such as closing down to stop losses, reducing scale, suspending new investment, and seeking external cooperation were taken. Simultaneously, the company retained its strong teams and concentrated resources on high-quality projects and well-performing business segments.On January 30th, the Shanghai Municipal Development and Reform Commission and the Shanghai Municipal Finance Bureau issued a notice regarding the implementation of the 2026 large-scale equipment renewal and consumer goods trade-in policy in Shanghai. The notice includes support for vehicle replacement and replacement. Individual consumers who transfer their passenger vehicles registered in their own name and purchase new energy passenger vehicles included in the "Catalogue of New Energy Vehicle Models Eligible for Vehicle Purchase Tax Reduction or Exemption" or fuel-powered passenger vehicles with an engine displacement of 2.0 liters or less will receive a vehicle replacement subsidy. The subsidy is 8% of the vehicle price for new energy passenger vehicles (maximum 15,000 yuan) and 6% of the vehicle price for fuel-powered passenger vehicles with an engine displacement of 2.0 liters or less (maximum 13,000 yuan).The Bank of Englands consumer credit figures for December were £1.524 billion, below the expected £1.7 billion and the previous figure revised from £2.077 billion to £2.143 billion.The Bank of Englands mortgage lending in December was £4.601 billion, below the expected £4.5 billion and the previous figure revised from £4.49 billion to £4.593 billion.

Due to a weaker dollar and possible supply interruptions, oil prices rise

Skylar Williams

Sep 15, 2022 10:45

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Oil prices climbed in early Asian trade on Thursday due to supply concerns and a potential rail shutdown in the United States, the largest petroleum consumer in the world.


Brent crude prices rose 38 cents, or 0.4%, to $94.48 a barrel as of 00:13 GMT, while U.S. West Texas Intermediate crude futures rose 46 cents, or 0.5%, to $88.94 per barrel.


The dollar index lost 0.14 percent on Wednesday, erasing the previous session's gains and increasing demand for dollar-denominated commodities such as crude oil among holders of other currencies.


The International Energy Agency (IEA) announced on Wednesday that it expected a large-scale switch from natural gas to oil for heating purposes, forecasting an average of 700,000 barrels per day (bpd) between October 2022 and March 2023 - double the amount of the previous year. This, together with the widespread expectation of a sluggish expansion in supply, also contributed to the market's increase.


The greater possibility of a U.S. rail shutdown due to an ongoing labor dispute also helps to market support. Three unions are negotiating a new contract that might hinder crucial oil and product train shipments.


Wednesday, TotalEnergies SE cut output at its 238,000-barrel-per-day (bpd) Port Arthur, Texas, refinery owing to the anticipated shutdown of two sulfur recovery units, according to sources familiar with plant operations (SRUs).