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Crude oil futures contracts saw a short-term pullback, with SC crude oils intraday gains narrowing to 9.98%, currently trading at 890.7 yuan/barrel. Low-sulfur fuel oil (LU) saw its decline widen to 0.15%, currently trading at 5479 yuan/ton. Fuel oils intraday gains narrowed to 1.84%, currently trading at 4371 yuan/ton. Asphalt rose 2.62%, currently trading at 5556 yuan/ton.On September 14th, EU Financial Services Commissioner Maria Luis Albuquerque rejected the banking sectors request to split the ambitious plan to revive the EU financial system into two parts. In a television interview, she stated that Europe is best served by a single approach to reforms, reducing red tape, lowering barriers to cross-border activity, and relaxing some regulations. She said, "If we really want to do something meaningful, we need to see this as a holistic solution because everything is interconnected. We need to address the real obstacles that are holding us back, and these obstacles stem primarily from fragmentation, from the lingering home-host debate." Last week, leaders of 11 top banks from the EU, Switzerland, and the UK called for the EU to prioritize "simplification" reforms in the short term and allow more time to discuss thorny issues such as the European Deposit Insurance Scheme. She added: "This is not for the banks; its for the EU economy."On September 14th, according to foreign media reports, GasPort Limited, the operator of one of Pakistans two major liquefied natural gas (LNG) import terminals, is planning to purchase US shipments to fill the gas supply gap in the Persian Gulf and alleviate the severe energy shortage that has persisted for months. GasPort Chairman Iqbal Z. Ahmed stated, "If we look to the West, we can change the status quo and break the Middle Easts control over supplies." He added that the company will seek to establish long-term alternative supply partnerships, stating, "The US energy industry is about to experience massive expansion. All we need to do is establish long-term partnerships with them." He urged the government to push forward with relevant negotiations and consider allowing private companies like GasPort to import LNG.Petronas: METLEN has signed a liquefied natural gas (LNG) supply agreement with the company to enhance energy security and supply diversification in Southeast Europe.September 14 - The public relations department of Irans Islamic Revolutionary Guard Corps said on the 14th that the Revolutionary Guard shot down a U.S. MQ-1 drone over the Strait of Hormuz.

More Than 80 Companies, Including China's JD.com, Added in U.S. SEC List, At Risk of Delisting

Haiden Holmes

May 05, 2022 10:16

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The Securities and Exchange Commission of the United States added over 80 corporations to its list of organizations facing probable expulsion from American exchanges, including China's JD.com, Pinduoduo (NASDAQ:PDD) Inc, Bilibili (NASDAQ:BILI) Inc, and NetEase (NASDAQ:NTES) Inc.


The SEC enlarged the list on Wednesday, including Chinese businesses listed in the United States, as part of a preliminary lineup under a 2020 law known as The Holding Foreign Companies Accountable Act.


The act, which was signed into law by then-President Donald Trump, seeks to bar foreign-jurisdiction corporations from US stock exchanges if they fail to adhere to American auditing standards for three consecutive years.


Among the other significant Chinese companies added to the SEC's list were JinkoSolar Holding Co Ltd (NYSE:JKS), NIO Inc, and China Petroleum (NYSE:SNP) & Chemical Corp.


According to Reuters, Chinese regulators last month requested that some of the country's US-listed companies, including Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU), and JD.com, submit additional audit disclosures.


China also proposed revising confidentiality rules for offshore listings in early April, removing a legal impediment to Sino-US audit cooperation and putting the onus on Chinese firms to protect state secrets.


The development comes after a US watchdog stated in March that it was continuing to engage with Chinese regulators on access to their auditors' records, but it remained unclear whether the Chinese government would allow the access necessary by a new US listing law.

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