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  • China May oil imports from Russia soar to a record, surpass top supplier Saudi

    China's crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine. Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia's European and Far Eastern ports, totalled nearly 8.42 million tonnes, according to data from the Chinese General Administration of Customs.

  • China’s ‘Particle Beam Cannon’ Is a Nuclear-Power Breakthrough

    In a typical fission reactor, atoms of heavy isotopes such as uranium-235 are broken apart, releasing energy. The process also releases extra neutrons, which collide with other atoms and break them apart in a chain reaction. The broken atoms are spent fuel that is cooled for a few years and then carefully stored for a few centuries. But a proposed new type of reactor built with this “cannon”—formally, a proton accelerator—could recycle this spent fuel, making it cheaper and safer to generate electricity.

  • GCC countries must develop ‘tech champions’ to compete with US and China

    Globally, the digital economy is growing six times as fast as its traditional counterpart. The superpowers of China and the US are presently in a commanding position within the digital economy because of their tech champions. They account for 90 percent of the market capitalization of the world’s 70 largest digital companies.

  • The US overtakes China as India’s top trade partner

    In the financial year ended in March 2022, bilateral trade between the US and India stood at $119.42 billion (9.25 lakh crore rupees), as against $80.51 billion in the previous year, according to the Indian commerce ministry. For China, the figure stood at $115.42 billion in the same period.

  • King appoints Adel Al-Jubeir envoy for climate affairs; Al-Harbi ambassador to China

    Custodian of the Two Holy Mosques King Salman has appointed Adel Al-Jubeir as Saudi Arabia’s envoy for climate affairs and Abdul Rahman Al-Harbi as ambassador to China. These appointments included as part of a series of royal orders issued by the King on Sunday. Al-Jubeir would continue holding his current positions of minister of state for foreign affairs and member of the Council of Ministers, while Al-Harbi was relieved of his former position as governor of General Authority for Foreign Trade, the Saudi Press Agency reported quoting the royal orders.

  • Saudi King Salman appoints climate envoy, ambassador to China

    Saudi King Salman appointed minister of state for foreign affairs Adel al-Jubeir as the kingdom's climate envoy, a royal decree said on Sunday, adding that he will also keep his job as a minister. The king also appointed Abdulrahman al-Harbi as ambassador to China and two new advisors to the royal court, decrees published by state media said.

  • China strategy is about rules-based order, not ‘new Cold War,’ Blinken says

    "We are not looking for conflict or a new Cold War. To the contrary, we're determined to avoid both," Blinken said in the 45-minute speech at George Washington University, which covered most contentious bilateral issues. U.S.-China relations sank to their lowest level in decades under former President Donald Trump and have soured further under President Joe Biden, a Democrat who has kept up his Republican predecessor's sweeping tariffs on Chinese goods while pursuing closer ties with allies to push back against Beijing.

  • Biden’s Asian economic talks include 13 countries, and no China

    Biden is unveiling the Indo-Pacific Economic Framework for Prosperity (IPEF) in Tokyo on his first trip in office to Asia. The White House says the deal offers no tariff relief to the countries that join, including India, Malaysia and the Philippines, but provides a way to sort through key issues from climate change to supply chain resilience and digital trade.

  • China in talks with automakers on EV subsidy extension -sources

    The move by policymakers comes as the world's second-biggest economy has slowed sharply - and auto sales along with it - after cities led by Shanghai imposed tight COVID-19 lockdowns from March. The curbs have shut stores, disrupted supply chains and slashed spending, including on new homes.

  • China’s April coal output leaps 11% on year, but demand downturn looms | Reuters

    China's daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing's order to increase supply to ensure security of the country's energy supply, but the volume dropped from a record high set in March.