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On April 28, Tom Kenney, senior international economist at ANZ, said in a research report that the Bank of Japan is likely to keep interest rates unchanged at this weeks meeting amid uncertainty in trade policy. He said that this uncertainty is expected to continue to heat up at least in the next few months, which means that the Bank of Japan is very likely not to raise interest rates soon. Bank of Japan Governor Kazuo Ueda is likely to take a cautious tone at the press conference and is expected to emphasize the need to closely monitor developments to assess the impact of tariffs. ANZ postponed its forecast for a rate hike by the Bank of Japan to October and April 2026 from its previous forecasts of May 2025 and October, respectively.According to the Financial Times: Germanys ambassador said the UK-EU summit could lay the groundwork for a review of the post-Brexit deal.On April 28, the reporter learned today that the State Administration for Market Regulation (Standardization Administration of the Peoples Republic of China) recently approved and issued the newly revised national standards for tourism services, namely, "Tourism Information Consulting Services" and "Facilities and Service Requirements for Tourism Restaurants". The new version of the national standard "Tourism Information Consulting Services" has been revised in accordance with the new changes and new demands of tourism information consulting services, and has clarified the overall requirements, service content, service methods, service personnel, service facilities and equipment, service improvements and other aspects, with a focus on strengthening online service methods, accessibility and sustainability. The new version of the national standard "Facilities and Service Requirements for Tourism Restaurants" clarifies the terms and definitions of tourism restaurants, and puts forward specific requirements in terms of facilities, dishes, customer service, management systems and other aspects of tourism restaurants, with a focus on updating the integration of culture and tourism, smart services, green consumption and other content.Ukrainian Prime Minister: Ukraine and the United States agreed to waive US aid repayment obligations related to the mineral agreement.On April 28, Goldman Sachs published a research report last Tuesday (22nd) stating that Zhaojin Mining (01818.HK)s first quarter profit performance in fiscal year 2025 was roughly in line with expectations. The bank raised its profit forecast for Zhaojin Mining from fiscal years 2025 to 2027 by 14% to 43%. With the full production of the offshore mine, Zhaojin Minings own gold mine production is expected to increase from 16 tons in 2024 to 30 tons in 2028, which means a compound annual growth rate of 17%. In addition, driven by strong production growth and rising gold prices, recurring net profit is expected to increase from RMB 1.64 billion (the same below) in 2024 to RMB 4.77 billion in 2028, which means a compound annual growth rate of 31%. Goldman Sachs maintained its "buy" rating on Zhaojin Mining, and raised its target price from HK$17 to HK$27.

OPEC+ Is Working to Compensate For Reduced Russian Oil Production

Charlie Brooks

Jun 02, 2022 15:57

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OPEC+ is attempting to compensate for a decline in Russian oil production, according to two OPEC+ sources on Thursday, as Russia's production has fallen by approximately 1 million barrels per day as a result of Western sanctions imposed on Moscow over the Ukraine crisis.


One OPEC+ source familiar with Russia's position stated that Moscow could agree to other producers paying for its lower output, but it may not occur on Thursday and may not be in full.


A Gulf OPEC+ source said that a resolution on the topic was "very probable" at Thursday's meeting.


Despite tighter global markets, it is largely anticipated that the group would adhere to its scheduled monthly small output increases when it meets online later on Thursday.


However, Western sanctions imposed on Russia over Ukraine may result in production and export cuts of up to 2 to 3 million barrels per day from the world's second largest oil exporter.


In April, Russia's supply of approximately 9.4 million barrels per day (bpd) was already below its OPEC+ target of 10.44 million bpd.