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On November 28th, the Nikkan Kogyo Shimbun reported that Japan and the United States are considering building a NAND flash memory factory in the US through a public-private partnership. It is understood that Japanese chipmaker Kioxia and its US counterpart SanDisk are likely to be the main investors. The Nikkan Kogyo Shimbun points out that this plan may face numerous challenges, including disagreements between the US and Japan regarding capital expenditures and regulatory risks.According to Hong Kong Stock Exchange documents, EasyHealth Group has passed the listing hearing of the Hong Kong Stock Exchange.On November 28th, Federated Hermes analyst Filippo Alotti stated that with UK inflation having peaked and weaker data emerging, the Bank of England now has room to cut interest rates. He said, "If, as the Bank of England expects, we have passed the inflation peak, then borrowing costs should gradually decline." Alotti indicated that the Bank of England may cut rates by 25 basis points in December and again in early 2026. However, he noted that given the governments fiscal buffer of £22 billion, higher than the previously expected £15 billion, the market will closely watch the governments growth forecasts.Hong Kong-listed consumer stocks rallied amid volatility, with Pop Mart (09992.HK) rising nearly 5%, Mixue Group (02097.HK) up over 3%, Gu Ming (01364.HK) up over 2%, and Cha Bai Dao (02555.HK), Lao Pu Gold (06181.HK), and Bruco (00325.HK) following suit.Virgin Australia: Announces it has become the first Australian airline to partner with OpenAI.

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.


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