China's State Reserve Administration has announced that it will release crude oil from its national reserves to the market to ease the burden on businesses due to rising commodity prices, Xinhua news agency reported Sept. 9. The National Food and Strategic Stocks Administration said that the release, which will be carried out in batches, is mainly aimed at Chinese enterprises that practice the...

Small and medium-sized Chinese companies that make goods for export have been forced to cut production because of problems with delivery. This is reported by the South China Morning Post (SCMP). Because of this, both they and their customers are facing problems - businesses in China have to cancel orders to avoid overstocking products. The difficulties with delivery, both by sea and by air, are...

Global oil demand in August was 98.4 million bpd, up 5.7 million bpd from August 2020 but 4 million bpd lower than August 2019, according to the U.S. Energy Information Administration's (EIA) monthly short-term forecast from the Department of Energy. "We estimate that the world consumed 98.4 million bpd of oil and liquid hydrocarbons in August, 5.7 million bpd more than in August 2020 but 4...

Global tech giants, including Apple, Google, Amazon, Tesla and Baidu, have decided to design their own microchips. This, writes CNBC, is necessary to avoid shortages in production facilities. In addition, the corporations' own developments will allow them to adapt the chips to their needs. It will help to increase the competitive advantage of the product. Forrester's research director Glenn...

Saudi Arabia has lowered oil prices for Asian buyers more than market participants expected. The country is trying to take market share from competitors, oil buyers said. Saudi Arabia has lowered oil prices for buyers from Asia for the next month, Bloomberg said. The agency notes that the country's actions show its desire to attract buyers. Saudi state-owned Saudi Aramco is lowering the price...

Japan topped the list of the most expensive countries for employers to hire foreign workers. The United Kingdom dropped from first place to second, followed by India, China and Hong Kong. Japan has become the most expensive place for companies to work and live for foreign workers. It surpassed the United Kingdom, which previously topped the list of most expensive countries for expat employers,...

Shipments of electric cars from Chinese companies Nio and Xpeng fell in August. According to CNBC, the industry fell victim to a global chip shortage and supply chain disruptions caused by local lockdowns due to the coronavirus. Nio delivered 5,880 electric cars in August, down from 7,931 in July. The company also lowered its delivery forecast for the third quarter of 2021 to 22,500-23,500 cars...

The OPEC+ countries have agreed to maintain the current plan to increase oil production. The price of oil is falling amid this. At a meeting on Wednesday, the countries of OPEC + agreed to maintain the previously approved plan to increase oil production. It is reported by Reuters with reference to the statement of the organization.  Oil production will be increased by 400,000 barrels per...

The U.S. government announced that it will soon introduce tax rules for cryptocurrency transactions. The announcement caused discontent among traders, but in the long term, the new rules could strengthen the digital money trading system, Bloomberg writes. U.S. residents must pay income tax on any profits, but many crypto investors ignore this obligation. For several years now, the Internal...