Brent crude futures were up 19 cents, or 0.2%, at $119.70 a barrel at 0050 GMT. The benchmark hit a three-month high of $120.99 on Monday. Higher output target by OPEC+ producers would ease tight supply. Oil costs crawled higher on Tuesday on expected request recuperation in China as it loosened up extreme COVID controls … Read more
Shanghai lifted its two-month lockdown on Wednesday. So far, Starbucks has reopened about 600 of its 940 stores in the city. The coffee chain is working with local authorities to resume indoor dining “as soon as possible,” says a spokesperson for Starbucks. China’s greatest city was under some type of lockdown from late March until … Read more
After a two-month lockdown that confined residents to their homes and battered the Chinese economy, Shanghai whirred back to life Wednesday as a range of Covid-19 restrictions were eased and thousands took to the streets. Since late March, when the Omicron virus variant fueled China’s worst outbreak in two years, the commercial hub of 25 … Read more
Asian markets were uneven Tuesday as investors struggled to keep a global rally going, with inflation still a concern due to rising oil costs, and a top Federal Reserve official pushing for a series of rate hikes. However, data showed that China’s vital industrial sector was improving, aided by the relaxation of some tight Covid … Read more
SHANGHAI/BEIJING: Shanghai announced on Monday that the two-month-long Covid-19 lockdown would be lifted on Wednesday, allowing the vast majority of residents in China’s largest metropolis to leave their homes and drive their automobiles. The news was met with relief, pleasure, and apprehension among the tired people. “I’m going to cry because I’m so emotional,” one … Read more
SHANGHAI: Shanghai officials will waive numerous criteria for firms to begin operations on Wednesday, according to a city official, easing a two-month-old city-wide lockdown and introducing programmes to help the city’s bruised economy. COVID-19 breakouts caused rigorous restrictions and lockdowns in China’s business capital of Shanghai last month, affecting everything from manufacturing to retail sales … Read more
Crude oil futures on the Shanghai International Energy Exchange finished higher Thursday in daytime trade. The most active crude oil contract for July 2022 delivery rose 13.3 yuan (approximately $1.99 USD) to settle at 714.9 yuan per barrel. The entire trading volume for the exchange’s eight listed crude oil futures contracts was 212,815 lots, with … Read more
After completing their job in Shanghai, the last group of 691 medics returned to Hefei, the capital of Anhui Province in east China, on Monday. According to the provincial health authority, Anhui medics treated a total of 10,303 COVID-19 infected individuals over the course of 53 days. “We’ve gotten over 100 thank-you letters from individuals … Read more
The Shanghai Municipal Commission of Commerce said late Monday that shopping malls and department stores will resume their offline operations on June 1. Shopping malls and department shops are permitted to reopen offline operations in phases and in a systematic way, with total customer flow not surpassing 50% of maximum capacity before May 31 and … Read more
The Chinese Super League will begin its season on June 3, according to organisers, with games expected to be played in empty stadiums due to China’s strict Covid controls. Matches between 18 teams will be held in Dalian on China’s east coast, as well as Haikou and Meizhou in the country’s south, according to a … Read more
Shanghai largely reopened public transportation on Sunday, signifying a gradual return after being cut off from the rest of the world for nearly two months. Since April, when it became the epicenter of the country’s biggest coronavirus outbreak since the pandemic began, China’s largest city has been nearly completely shut down. Unlike other big economies, … Read more
Hong Kong shares closed better Tuesday after it led a rally throughout Asian markets over the hopes of Shanghai gradually reopening corporations after weeks of Covid lockdowns. The Hang Seng rose 3.27 percent, or 652.31 points, to 20,602.52 The Shanghai Composite Index also rose 0.65 percent, or 19.95 factors, to a few,093.70, at the same time as … Read more
Hong Kong led a rally across Asian markets Tuesday in hopes that China’s economic engine Shanghai will ease its weeks-long lockdown and step by step reopen corporations, although analysts recommended there may be little lengthy-term alleviation. Much of the town of 25 million has been underneath stay-at-domestic orders given that April as Beijing attempts to … Read more
SHANGHAI: Shanghai declared “zero-Covid” across all of its districts on Tuesday, provoking mockery on social media as millions of people in China’s largest city remained in lockdown. Faced with its worst outbreak since the outbreak began, China — the last major economy remaining locked to the rest of the world — imposed severe restrictions on … Read more
Shanghai aims to reopen broadly and allow normal life to resume from June 1, a city official said on Monday (May 16), after declaring that 15 of its 16 districts had eliminated cases outside quarantine areas. Deputy Mayor Zong Ming, speaking at a daily online news conference, gave the clearest timetable yet for a return … Read more
Shanghai has declared a gradual reopening of enterprises beginning Monday, though it is unclear when the millions of people trapped in China’s economic metropolis will be allowed to leave their homes. Faced with the greatest Covid-19 epidemic since the outbreak began, China — the last major economy remaining closed to the rest of the globe … Read more
North Korea showed its first Covid-19 demise on Friday, saying fever became spreading “explosively” nationwide and tens of lots of humans have been being isolated after falling sick. The insular us of a most effective reported its first Covid instances Thursday, saying it turned into stepping into a “maximum emergency epidemic prevention system” after patients … Read more
Hong Kong stocks closed decreased on Thursday, tracking Wall Street falls on issues of inflation and US economic tightening. The Hang Seng Index dropped 2.24 percent, 444.23 points, to 19,380.34. The Shanghai Composite Index dropped 0.12 percent, or 3.71 points, to 3,054.99, while the Shenzhen Composite Index on China’s second exchange rose 0.16 percent, or … Read more
Chinese equities closed better on Wednesday, as buyers increasingly took to the sidelines ahead of key US inflation data due later in the day. The Hang Seng Index rose 0.97 percent, or 190.88 points, to 19,824.57. The Shanghai Composite Index rose 0.75 percent, or 22.86 points, to 3,058.70, while the Shenzhen Composite Index on China’s … Read more
China’s censors scrambled to eliminate online debate about its zero-Covid strategy on Wednesday, after the World Health Organization (WHO) criticized the country’s tough stance against the virus. China is the world’s last major economy that adheres to a zero-Covid policy and imposes some of the most stringent virus controls. Most of Shanghai’s 25 million people have … Read more
Shanghai officials will limit access to food and hospitals in some areas of the city over the next three days. It will be the most severe phase of the city’s lengthy lockdown. Commercial food delivery are not permitted, and all visits to hospitals must first be approved. Neighbors of Covid-19 cases, as well as others … Read more
Shanghai officials tightened the city-wide COVID lockdown they imposed more than a month ago, extending an ordeal that China’s capital Beijing was keen to avoid by turning mass testing into an almost daily habit into late May. People familiar with the situation told Reuters that the 25-million-strong business centre was making a renewed drive to … Read more
China’s two largest cities strengthened Covid-19 restrictions on their inhabitants on Monday, causing fresh frustration and even raising issues about the legitimacy of the country’s unrelenting fight against the virus. As China grapples with its biggest Covid outbreak since the outbreak began, officials in Shanghai, the country’s most populated city, have initiated a fresh drive … Read more
Lucy, a Shanghai resident, said she and her neighbors were bundled into buses and driven hundreds of kilometers away from the city’s lockdown to a makeshift quarantine center in the middle of the night. Most of Shanghai’s 25 million residents have been confined to their homes for weeks as the city battles a major Covid … Read more
On Monday, authorities in China’s commercial metropolis of Shanghai recorded 58 new COVID-19 cases outside of places under strict lockdown, while Beijing continued to test millions of individuals on a May Day holiday few were celebrating. Coronavirus restrictions in Shanghai have sparked uncommon public outrage, with millions of the city’s 25 million residents trapped indoors … Read more
China workers in hazmat suits spray clouds of disinfection over city streets. They are building fronts, park benches, and even shipments have become a regular sight. Thousands of workers have been organized into teams to disinfect areas in Shanghai. Shanghai is the epicenter of the country’s largest outbreak, according to state media. It has a … Read more
Hong Kong shares ended slightly higher Wednesday at the same time as Shanghai rallied after Chinese President Xi Jinping referred to a new infrastructure construction force, though investors stay concerned approximately a Covid outbreak in the USA And lockdowns. The Hang Seng Index added 0.06 percent, or 11.65 points, to 19,946.36. The Shanghai Composite Index rose 2.49 … Read more
DNEW YORK: Oil fell 6% to its lowest level in two weeks on Monday, owing to mounting concerns about the global energy demand picture as a result of the protracted COVID-19 lockdowns in Shanghai and probable interest rate hikes in the United States. Authorities in Shanghai have erected barricades around residential buildings. Many individuals in … Read more
