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On May 30th, the State Administration for Market Regulation announced that, in order to adapt to the needs of combating and rectifying pyramid schemes under the new circumstances, protect the legitimate rights and interests of natural persons, legal persons, and unincorporated organizations, and maintain market order and social stability, it has organized the revision of the "Regulations on Prohibiting Pyramid Schemes," resulting in the "Draft Regulations on Prohibiting Pyramid Schemes (Revised Draft for Public Comment)," which is now open for public comment. The public comment period is from May 29th to June 28th, 2026. The draft revisions focus on the following aspects: adding specific content on combating online pyramid schemes; strengthening the working mechanisms and measures for preventing and combating pyramid schemes; and increasing the legal liabilities for pyramid schemes.On May 30, at the invitation of Valentina Matviyenko, Chairwoman of the Federation Council of Russia, and Volodin, Chairman of the State Duma, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress, paid an official friendly visit to Russia from May 27 to 30. In Moscow, he held separate talks with Matviyenko and Volodin and attended the 11th meeting of the China-Russia Parliamentary Cooperation Committee. Zhao Leji stated that the exchange mechanism between the legislative bodies of China and Russia is increasingly完善 (perfected/improved), playing an important role in optimizing the legal environment for bilateral cooperation and consolidating the public opinion foundation of bilateral relations. Both sides should, based on the functions and responsibilities of their legislative bodies, maintain the good momentum of multi-level and multi-field exchanges, enhance mutual understanding and trust, strengthen exchanges and mutual learning, and better serve the development of the China-Russia comprehensive strategic partnership of coordination for a new era. Exchanges of legislative experience should be conducted in areas such as national security, ecological and environmental protection, artificial intelligence, and foreign-related legal affairs.According to AXIOS, the first Windows PCs equipped with NVIDIA (NVDA.O) chips will be unveiled next week.On May 30th, Xiaomi officially unveiled its end-to-end optimization solution for the inference system of the MiMo-V2.5 series models. According to Xiaomi, the team systematically reconstructed the entire inference stack, from KVCache management, hierarchical caching, and prefix caching to scheduling strategies and the Prefill/Decode link, based on a hybrid architecture of Hybrid SWA+MoE+multimodal. KVCache storage was compressed to approximately 1/7 of comparable solutions, significantly reducing inference costs in long-sequence scenarios—this is the core technological foundation for this price reduction. On May 27th, the MiMo-V2.5 series API underwent a permanent price reduction, with a maximum reduction of 99%, regardless of input length.On May 30, the nations first green computing power full-stack AI platform was officially launched in the Hohhot Area of the Inner Mongolia Pilot Free Trade Zone, filling the gap in the regions one-stop computing power model word element comprehensive service transaction.

WTI rises to around $80.00 following a minor drop as supply concerns intensify

Daniel Rogers

Dec 28, 2022 10:57

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Futures for West Texas Intermediate (WTI) on the New York Mercantile Exchange (NYMEX) have resumed their ascent after correcting to about $79.50 in the late New York session. After Russian President Vladimir Putin chose to impose a price ceiling on oil exports to the G7 and the European Union, supply concerns have increased. The oil price has sought to recover as a result.

 

Black gold is also in the spotlight despite the US Dollar Index's dismal performance (DXY). In the absence of prospective triggers, the USD index is trading flat below 104.00 despite the extreme volatility of U.S. stocks.

 

Previously, the G7 and the European Union capped the price of Russian oil at $60 per barrel in order to prevent Moscow from funding weaponry and ammunition for the war against Ukraine. In retaliation, Vladimir Putin passed a directive prohibiting the sale of Russian oil to nations that enforced the oil price ceiling. It will last from 1 February to 1 July.

 

In addition to supply concerns, China's actions to restore the economy after a protracted shutdown have injected new life into the oil bulls. Despite an increase in Covid-19 instances, the Chinese government has eliminated quarantine regulations for incoming tourists, which will reduce supply chain interruptions. Supporting the oil price is a crucial step towards reopening the economy and regaining the road of progress.

 

The modification of the Gross Domestic Product (GDP) projection is attributable to a new effort to eliminate restrictions on Covid-related measures in China. According to a statement made by China's National Bureau of Statistics (NBS), the agency has changed the country's GDP growth forecast for 2021 from 8.1% to 8.4%.