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  Bloomberg Russia’s seaborne crude exports in the seven days to July 1 rebounded from the previous week’s plunge, but shipments to Asia are slipping, even as flows are diverted to the country’s Black Sea terminal to cut the voyage distance to India. Aggregate crude flows from Russian ports were up week-on-week by 23%, recovering most of the volume lost ...

Bloomberg After a dismal first six months, things are finally looking up for initial public offerings in Hong Kong as several large Chinese firms line up to list in Asia’s financial hub in the second half. Battery materials producer Tianqi Lithium Corp just opened its books for what is set to be the city’s first billion-dollar deal this year while ...

  Bloomberg Advanced Info Service Pcl, Thailand’s biggest mobile phone operator, plans to expand its network by acquiring Triple T Broadband Pcl and an infrastructure fund for a total of 32.4 billion baht ($908 million). The Bangkok-based company will buy internet provider Triple T from Jasmine International Pcl for 19.5 billion baht, Chief Financial Officer Tee Seeumpornroj said. It will ...

  Bloomberg Bankrupt Sri Lanka is offering a guaranteed fuel quota to any company that can pay in dollars. Potential purchasers must pay as much as a month in advance to open a consumer account at state-run Ceylon Petroleum Corp, Energy Minister Kanchana Wijesekera tweeted. Fuel will be issued on a daily or weekly basis from July 12, according to ...

Bloomberg The US ambassador to China called on the Foreign Ministry in Beijing to stop spreading Russia’s “lies,” in an unusually direct and public rebuke by the top American diplomat in the country. Ambassador Nicholas Burns made the “request” in response to a question at a government-backed forum Monday about what China could do to resolve the crisis over Russia’s ...

Bloomberg The poorest families in the UK were left “brutally exposed” to the cost of living crunch after almost two decades of income stagnation, the Resolution Foundation warned. In a report, the think tank said too many families faced the current crisis already struggling with low incomes, scant savings and ungenerous welfare support. Adjusted for inflation, the disposable income of ...

  Bloomberg Germany reported its first monthly trade deficit in three decades, as companies faced surging costs for imports and softer demand for their products amid a darker economic outlook. The shortfall in May for Europe’s biggest economy was 1 billion euros ($1 billion), a gap not seen since 1991. Cross-border sales unexpectedly falls by 0.5%, while imports rise 2.7%, ...

  ABU DHABI / WAM The UAE Circular Economy Council convened its second meeting of 2022, presided over by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment. The council approved 22 policies proposed by its subsidiary, the Circular Economy Policies Committee, that focus on accelerating the implementation of the circular economy model in the UAE in four ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that the total production capacity of energy has reached 14,117 megawatts (MW) after adding 700MW. This includes 600MW from the Hassyan Power Complex, which runs on natural gas, and 100 MW from photovoltaic (PV) solar panels at the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, ...

  DUBAI / WAM Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry (FCCI), and Maria Camilleri Calleja, Ambassador of Malta to the UAE, have met to discuss the preparations for the visit of the Maltese trade mission to the country in mid-September. The visit aims to seize investment opportunities in the UAE and ...