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On February 14th, Faraday Future announced that its Extraordinary General Meeting of Shareholders, scheduled for February 13th, 2026 (Pacific Time), has completed the review and approval of relevant resolutions. At this meeting, shareholders approved a proposal to increase the number of authorized shares. This proposal only involves an increase in the authorized share reserve and will not immediately increase the actual number of shares issued. Simultaneously, the company launched its first series of embodied intelligent robots and opened non-refundable, non-binding pre-orders, with the first deliveries expected by the end of this month. Regarding its robotics business, the company is advancing key tasks such as mass production preparation, customized development, testing and verification, and AI data training, continuously driving the dual-engine growth curve of its two core product categories—EAI vehicles and robots.On February 14th, the Peoples Bank of China, the State Financial Regulatory Commission, the China Securities Regulatory Commission, and the Ministry of Agriculture and Rural Affairs jointly issued the "Opinions on Coordinating the Establishment of a Regular Financial Support Mechanism to Help Prevent Poverty and Promote Rural Revitalization." The Opinions emphasize strengthening financial resource investment in key areas, improving financial services for grain and oil production, and supporting the improvement of comprehensive agricultural production capacity and quality. It also calls for developing supply chain financial service scenarios such as accounts receivable financing to ensure the financial needs of the entire agricultural industry chain and expand the financial supply for county-level industries that benefit farmers. Furthermore, it emphasizes increasing medium- and long-term investment in rural infrastructure construction and supporting the integrated development of agriculture, culture, and tourism. The Opinions also stress strengthening financial service capacity building and improving the financial organization system. Finally, it calls for deepening the implementation of the demonstration project of financial technology empowering rural revitalization, promoting the popularization and application of emerging payment methods such as mobile payment, and continuing the evaluation of "credit users, credit villages, credit townships" and new agricultural business entities to solidify basic rural financial services.On February 14th, the Peoples Bank of China, the State Financial Regulatory Commission, the China Securities Regulatory Commission, and the Ministry of Agriculture and Rural Affairs jointly issued the "Opinions on Coordinating the Establishment of a Regular Financial Support Mechanism to Help Prevent Poverty and Promote Rural Revitalization." The Opinions require strengthening the synergy of multiple financial sectors, leveraging the financing function of the bond market, and encouraging financial institutions, especially local legal entity financial institutions in underdeveloped areas, to issue special financial bonds for micro, small and medium-sized enterprises (MSMEs) and agriculture. It also calls for building a comprehensive capital market support system and continuing the "green channel" policy for enterprise listing. Furthermore, it emphasizes the innovative development of insurance products and services. The Opinions stress strengthening policy guarantees and implementation, fully leveraging the incentive role of monetary and credit policies, and guiding financial institutions to continuously increase credit resources for rural revitalization, especially for those preventing poverty and those in underdeveloped areas. Finally, it calls for establishing and improving a regular statistical and dynamic monitoring mechanism for the effectiveness of financial assistance policies, and regularly tracking and analyzing the implementation results.On February 14th, the Peoples Bank of China, the State Financial Regulatory Commission, the China Securities Regulatory Commission, and the Ministry of Agriculture and Rural Affairs jointly issued the "Opinions on Coordinating the Establishment of a Regular Financial Support Mechanism to Help Prevent Poverty and Promote Rural Revitalization." The Opinions propose to improve the long-term mechanism for development-oriented financial assistance to key groups, adjust and optimize microcredit for those lifted out of poverty, improve policies for small-scale credit loans to farmers, and provide regular support for those preventing a return to poverty. It also emphasizes leveraging the role of finance in supporting industrial development, encouraging financial institutions to develop loans for distinctive and advantageous industries, and allowing eligible regions to increase the upper limit of guaranteed loans for entrepreneurship. Furthermore, it establishes a tiered and categorized financial support mechanism for underdeveloped areas, prioritizing new financial funds and services for key counties supporting rural revitalization. Finally, it calls for increased financial resource allocation to ethnic minority areas, old revolutionary base areas, and border regions.On February 14th, the Ministry of Industry and Information Technology and two other departments issued a notice entitled "Guiding Opinions on Upgrading and Improving the Quality of the Brewing Industry (2026-2030)," which mentions supporting the comparative analysis of domestic and international standards and formulating product grading, classification, and testing standards in line with international standards. It encourages enterprises to conduct overseas investment and acquisitions of raw material bases, wineries, packaging centers, and distribution channels in a reasonable and compliant manner, strengthen international exchanges and cooperation, and optimize the global production capacity layout. It also encourages enterprises to participate in international exhibitions and promotional activities to promote more products into international duty-free shops and international chain restaurants. Furthermore, it supports the "integration and collaborative export" of Chinese liquors such as baijiu and huangjiu with Chinese cuisine. Simultaneously, it encourages liquor distribution enterprises to deeply connect with production enterprises and share resources, transforming from traditional wholesale and retail agencies to brand agencies and chain operations. Finally, it supports enterprises to strengthen production and sales connections with large e-commerce platforms, deepen the omnichannel layout of production, distribution, sales, and services, and support the standardized development of new business models such as community e-commerce, live-streaming e-commerce, cross-border e-commerce, and instant retail. Local governments and businesses are encouraged to integrate alcohol consumption elements into nighttime economy districts, specialty restaurant clusters, and large commercial complexes. Support will be given to the development of new consumption platforms such as various pubs, creative markets, and themed streets to create immersive consumption experiences. Businesses will be encouraged to enrich residents daily lives through smart displays, themed pop-ups, cultural salons, and cultural and sports activities in urban business districts and residential communities.

WTI bulls move in on supply side concerns, but the Fed looms

Alina Haynes

Dec 13, 2022 14:28

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On Monday, the price of West Texas Intermediate, or WTI, crude oil increased as supply-side concerns outweighed fears of weakening demand. At the time of writing, WTI is trading at $73.40, a 0.1% increase from its low of $73.27. It has risen from a low of $73.27 to a high of $73.51.

 

Despite the upcoming US consumer Price index and Federal Reserve meeting, supply concerns have trumped recession concerns in the most recent sessions. The Fed is likely to raise interest rates by 50 basis points on Wednesday, following the release of today's inflation data from other U.S. states, which might bolster the Fed's reputation.

 

"Core prices likely increased by 0.3% month-over-month in November, for the second consecutive month. We anticipate that goods deflation will once again serve as a counterbalance to shelter inflation. Importantly, the November decline in gas prices is anticipated to bring respite to the CPI. Overall, our m/m predictions imply a 7.3%/6.1% YoY increase in total/core pricing," TD Securities analysts stated.

 

The money markets presently assign a probability of about 75% that the US central bank would raise rates by 50 basis points following four consecutive rate hikes of 75 basis points. However, other observers believe that the event will have a hawkish consequence.