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The oil-producing Organization of the Petroleum Exporting Countries and its allies could extend existing output cuts this week, delegates and analysts told CNBC, even as focus shifts from Middle East tensions to summer demand.
The European Commission on Friday approved Italian state aid for STMicroelectronics to build a 5 billion euro ($5.4 billion) microchip plant as Europe battles to reduce reliance on Asian imports for vital manufacturing components.
SINGAPORE — U.S. Defense Secretary Lloyd Austin expressed concern over China's naval activity in the Taiwan Strait to his Chinese counterpart Admiral Dong Jun on Friday, reiterating the stance that China "should not use Taiwan's political transition ... as a pretext for coercive measures."
BEIJING: China's deeply indebted property giant Evergrande has been fined 4.18 billion yuan (US$577.1 million) for fraudulent business practices, Beijing's financial regulatory body said Friday (May 31).
He held a bank account in the city state, was a director of several local companies and lived in a multimillion-dollar apartment overlooking a premier shopping district, according to an indictment and local filings. All the while, the 35-year-old Chinese national was amassing riches by offering cybercriminals access to millions of infected devices for a fee, the US Justice Department said.
Britain’s Rolls-Royce has signed a contract to supply engines to power a new class of Japanese warship that will be among the largest and most powerful to be operated by an Asia-Pacific navy.
In the joint declaration issued after the Monday summit, the three countries called for wide-ranging cooperation, including resuming negotiations on a free-trade agreement as well as expanding people-to-people exchanges.
“The sooner you make the call, the better for our relationship,” ambassador Jose Manuel Romualdez, a cousin of Marcos recalled in an interview. Biden called from Air Force One two days after the election, holding a friendly 10-minute exchange with Marcos that “really set the tone for our relationship with the United States,” Romualdez said.