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On December 29th, it was reported that on December 26th, the National Energy Administration held a symposium in Kunming, Yunnan Province, on promoting the construction of a high-quality charging infrastructure system by 2025. The meeting emphasized that the next step is to solidly implement the "Three-Year Doubling" action plan for electric vehicle charging facility service capacity by improving facilities, enhancing services, and strengthening safety, thereby accelerating the construction of a high-quality charging infrastructure system. This includes improving the charging infrastructure service network, increasing the coverage of charging facilities in key scenarios such as residential areas and rural areas; optimizing the service efficiency of charging infrastructure, promoting the planning and construction of high-power charging facilities; focusing on improving the quality of charging operation services and effectively protecting consumer rights; accelerating the cultivation of a healthy and positive industrial ecosystem and further promoting the large-scale application pilot of vehicle-to-grid interaction; and strengthening the safety management of charging infrastructure to prevent and resolve safety risks in the charging sector.On December 29th, Changan Automobile announced its plan to issue 630 million A-shares to a specific target, China Changan Automobile, which will subscribe for all shares in cash. Prior to this equity change, China Changan Automobile held 35.07% of the companys shares; after the change, its shareholding will increase to 38.95%. This equity change will not result in a change of the companys controlling shareholder or actual controller. The issuance is subject to several conditions, including approval from the State-owned Assets Supervision and Administration Commission, approval from the companys shareholders meeting, approval from the Shenzhen Stock Exchange, and registration approval from the China Securities Regulatory Commission.Bahrain announced fiscal reforms and approved a new corporate income tax law for local companies.Intel (INTC.O) shares rose 0.5% in pre-market trading after the company sold $5 billion worth of shares to Nvidia under a previous agreement.The final plan shows that Angola will export 1 million barrels per day of crude oil next February.

GBP/USD is nearing its 50-day moving average as DXY follows rates lower, while UK politics and US GDP are closely monitored

Daniel Rogers

Oct 25, 2022 15:33

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GBP/USD rises above 1.1300, gaining 0.25 percent intraday, as investors praise a weakening US dollar and await a resolution to the UK's parliamentary upheaval on Tuesday morning. Nevertheless, a dearth of significant data/events and sluggish markets, in addition to the immediate technical problems, present obstacles for pair buyers following a bad start to the week.

 

Following his election as the third British Prime Minister in less than two months, former Financial Minister Rishi Sunak reminded his followers that the United Kingdom is experiencing a "serious economic problem." The politician continued, "We now require stability and unity, and I will make unifying our party and our nation my top priority." GBP/USD buyers are hopeful about surviving the month-long political uncertainty due to Sunak's credibility, which is partly related to his expertise at Goldman Sachs and his ability to accurately predict financial turmoil if Liz Truss implements her fiscal stimulus.