Business – Page 116 – THE OVAL CIRCLE

Chinese refiners shatter records in June

Posted on July 19, 2021July 19, 2021By Editor

China’s refineries processed a record amount of crude oil last month, at 14.8 million bpd, up by 3.9% from May when run rates also broke records, Reuters reported, citing data from the national statistics bureau. … Read More >Chinese refiners shatter records in June

Business

US waives sanctions on frozen Iranian oil funds… but there’s a catch

Posted on July 19, 2021July 19, 2021By Editor

The United States has decided to temporarily waive sanctions on Iranian oil funds abroad but without returning Tehran’s access to its bank accounts in Japan and South Korea. … Read More >US waives sanctions on frozen Iranian oil funds… but there’s a catch

Business

China’s Xiaomi overtakes Apple in global smartphone market

Posted on July 19, 2021July 19, 2021By Editor

China’s Xiaomi Corporation has become the world’s second biggest smartphone producer, beating US rival Apple Inc by 3% in global shipments. … Read More >China’s Xiaomi overtakes Apple in global smartphone market

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China cheers Russia’s move away from US dollar in favor of yuan

Posted on July 18, 2021July 18, 2021By Editor

Beijing has welcomed Russia’s decision to cut the US currency from its National Wealth Fund and give the yuan a bigger role, China’s Foreign Ministry has announced. … Read More >China cheers Russia’s move away from US dollar in favor of yuan

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Capital flight from Russia drops nearly 10% in first six months of year

Posted on July 13, 2021July 13, 2021By Editor

The net capital outflow from the Russian Federation in January-June this year totaled $28.2 billion, the Central Bank of Russia (CBR) reported on Friday. … Read More >Capital flight from Russia drops nearly 10% in first six months of year

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Russia raises GDP growth outlook as economy recovers faster than expected

Posted on July 10, 2021July 10, 2021By Editor

The Russian Ministry of Economic Development and Trade has raised its forecast for the growth of the country’s economy in 2021, despite new administrative restrictions on business activity due to the third wave of the pandemic. … Read More >Russia raises GDP growth outlook as economy recovers faster than expected

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More than half of US states sue Google for ‘extravagant’ fees in company’s app store

Posted on July 10, 2021July 10, 2021By Editor

District of Columbia and 35 US states filed a lawsuit against Google on Wednesday, accusing the tech giant of violating antitrust laws on its Android app store. … Read More >More than half of US states sue Google for ‘extravagant’ fees in company’s app store

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Bitcoin slides amid broader cryptocurrency market sell-off

Posted on July 10, 2021July 10, 2021By Editor

The price of bitcoin dropped below the $33,000 level on Friday for the first time in over a week, with most other major cryptocurrencies trading in the red. … Read More >Bitcoin slides amid broader cryptocurrency market sell-off

Business

Venezuelan crude exports soar 66% year-on-year

Posted on July 5, 2021July 5, 2021By Editor

Crude oil exports from Venezuela inched up last month as traders rushed to sell Venezuelan crude to Chinese buyers ahead of the entry into effect of a new tax. … Read More >Venezuelan crude exports soar 66% year-on-year

Business

Russia doubles electricity exports as cold winter & hot summer ensure lucrative price environment

Posted on July 5, 2021July 5, 2021By Editor

Exports of Russian electricity have reached a record high since 2012, according to the country’s energy ministry, which projects that this year’s sales will nearly double compared to exports recorded in the first half of 2020. … Read More >Russia doubles electricity exports as cold winter & hot summer ensure lucrative price environment