on Monday
Ministry of Foreign Affairs: Mutual benefit and win-win are the essence of China-EU economic and trade cooperation, and imposing tariffs is an act of protectionism
Foreign Ministry Spokesperson Lin Jian hosted a regular press conference. A Reuters reporter asked, the EU recently took action to impose tariffs on Chinese-made electric vehicles, but EU countries such as Italy are seeking to establish stronger economic ties with China. Is this an attempt by EU countries to have it both ways? "Regarding the EU's anti-subsidy investigation on Chinese electric vehicles, China has repeatedly expressed its opposition." Lin Jian emphasized that mutual benefit and win-win are the essence of China-EU economic and trade cooperation. Imposing tariffs is a typical protectionist behavior, which is not conducive to the EU's green transformation and global efforts to combat climate change. It is in the common interests of China and Europe to properly handle differences through dialogue and consultation on the basis of mutual respect. (Beijing Daily)
SHFE: From August 19, 2024, rebar produced in accordance with GB/T 1499.2-2018 shall not be registered for standard warehouse receipts
The Shanghai Futures Exchange has issued the "Shanghai Futures Exchange Rebar Futures Contract (Revised Version)", "Shanghai Futures Exchange Wire Rod Futures Contract (Revised Version)" and "Shanghai Futures Exchange Delivery Rules (Revised Version)", which will be implemented from September 25, 2024 (i.e. continuous trading on the evening of September 24). From July 29, 2024, rebar produced in accordance with GB 1499.2-2024 and wire rod produced in accordance with GB 1499.1-2024 will be allowed to register standard warehouse receipts. From August 19, 2024 (inclusive), standard warehouse receipts shall not be registered for rebar produced in accordance with GB/T 1499.2-2018 and wire rod produced in accordance with GB/T 1499.1-2017; after the close of September 24, the standard warehouse receipts registered for rebar produced in accordance with GB/T 1499.2-2018 and wire rod produced in accordance with GB/T 1499.1-2017 shall be cancelled by our exchange, and the standard warehouse receipts that have not yet been unpledged shall be unpledged by our exchange. Our exchange will take necessary measures according to market conditions to maintain a smooth transition of the revision of the national standards for rebar and wire rod. All parties are requested to abide by relevant national laws and regulations, follow the rules and regulations of our exchange, pay attention to risk prevention, and jointly ensure the smooth operation of the market.
SHFE raises transaction fees for rebar futures and other related contracts
According to the announcement of the Shanghai Futures Exchange, after research and decision, from the trading on July 31, 2024 (i.e. the night trading on July 30): the transaction fee for closing the current position of rebar futures RB2408, RB2409, and RB2410 contracts will be adjusted to 0.02% of the transaction amount, and the transaction fee for hedging closing the current position will be adjusted to 0.01% of the transaction amount. The transaction fee for closing the current position of wire rod futures WR2408, WR2409, and WR2410 contracts will be adjusted to 0.02% of the transaction amount, and the transaction fee for hedging closing the current position will be adjusted to 0.01% of the transaction amount.
10 joint-stock banks followed suit and lowered their deposit interest rates
Following China Merchants Bank and Ping An Bank, on July 29, 10 joint-stock banks including China CITIC Bank, China Everbright Bank, China Minsheng Bank, Shanghai Pudong Development Bank, Industrial Bank, Hua Xia Bank, China Guangfa Bank, China Zheshang Bank, China Bohai Bank and Hengfeng Bank lowered their deposit interest rates. Among them, the five-year fixed deposit interest rate of China Zheshang Bank, China Bohai Bank and Hengfeng Bank was reduced from 2.30% to 2.10%, and the five-year fixed deposit interest rate of the other seven banks was reduced from 2.05% to 1.85%, all reduced by 20BP. (China News Service)
Indonesia's trade ministry plans to revise palm oil domestic market obligation rules
According to foreign media reports, Indonesian Trade Ministry official Bambang Wisnubroto said on Monday that it plans to revise the domestic market obligation rules for palm oil, which may change the prices and types of some products sold in the local market. Indonesia currently requires palm oil producers to sell a portion of their output to the domestic market at a fixed price in order to obtain export licenses. Bambang did not provide further details, but said the department aims to release a revised version of the rule this week.
Tuesday
Indonesia cuts crude palm oil export tariffs in August
According to foreign media reports, the Indonesian Ministry of Trade announced that the reference price of crude palm oil in Indonesia in August was set at US$820.11 per ton, higher than US$800.75 in July. Based on the new reference price, the export tariff of crude palm oil was reduced from US$35 per ton to US$33, and the special tax remained unchanged at US$85 per ton.
China Metal Materials Distribution Association issued a proposal to maintain market stability during the transition period between the old and new national standards for steel bars
In order to cooperate with relevant national departments in implementing the new national standard, ensure that the inventory of old national standard steel bars can be digested on schedule, and maintain market stability, the China Metal Materials Circulation Association and its group member units have issued the following proposals to steel production enterprises, circulation enterprises, and terminal construction enterprises across the country:
1. During the transition period between the old and new national standard rebar products, please steel enterprises, trading enterprises, warehousing enterprises, and logistics enterprises remain rational, overcome panic, and do not engage in vicious competition by selling at low prices, so as to maintain market confidence and stability. We must fully believe that government departments and industry organizations will take positive measures to ensure a smooth transition between the old and new national standard rebar products.
2. Call on all steel mills across the country to stop producing old national standard rebar from August 1st.
3. In the initial stage of production of the new national standard, all steel mills are requested to reasonably control production, appropriately reduce the release of new products, and leave time and space for the digestion of old national standard products.
4. Based on the principle of "first in, last out", we call on steel trading companies and warehousing companies to reduce the purchase of new national standard rebar as much as possible before the old national standard rebar inventory is sold out.
5. We call on all steel trading and warehousing companies to stop purchasing old national standard rebar from steel mills from August 1st to reduce the inventory pressure of old national standard rebar.
6. Call on terminal construction companies to give priority to purchasing old national standard steel bars before September 25 to jointly maintain the market. (China Metal Materials Distribution Association)
Zheng Zhajie of the National Development and Reform Commission: Expand the catalogue of industries that encourage foreign investment and reasonably reduce the negative list for foreign investment access
Zheng Zhajie, director of the National Development and Reform Commission, said that we should deepen the reform of the foreign investment and outbound investment management system, expand the catalog of industries that encourage foreign investment, reasonably reduce the negative list of foreign investment access, and implement the complete abolition of restrictions on foreign investment access in the manufacturing sector. By "adding one, subtracting one, and clearing one", we will further expand opening up and attract foreign investment. At the same time, we will guarantee the national treatment of foreign-invested enterprises and create a first-class business environment, so that foreign investors can not only "come in", but also "develop well". (Xinhua News Agency)
The Political Bureau of the CPC Central Committee: Reserve and launch a batch of incremental policy measures as soon as possible
The Political Bureau of the CPC Central Committee held a meeting on July 30. The meeting pointed out that macroeconomic policies should continue to be more effective. We should strengthen counter-cyclical adjustments, implement proactive fiscal policies and prudent monetary policies, accelerate the full implementation of the determined policy measures, and reserve and launch a batch of incremental policy measures as soon as possible. We should speed up the issuance and use of special bonds, make good use of ultra-long-term special government bonds, support the construction of national security capabilities in major strategies and key areas, and promote large-scale equipment renewal and the replacement of old for new for large durable consumer goods with old for new.
The Political Bureau of the CPC Central Committee: Adhere to the combination of digesting existing stocks and optimizing incremental growth, and actively support the acquisition of existing commercial housing for use as affordable housing
The Political Bureau of the CPC Central Committee held a meeting on July 30. The meeting stressed the need to continue to prevent and resolve risks in key areas. It is necessary to implement new policies to promote the stable and healthy development of the real estate market, adhere to the combination of digesting existing stocks and optimizing incremental growth, actively support the acquisition of existing commercial housing for use as affordable housing, further improve the work of ensuring the delivery of housing, and accelerate the construction of a new model for real estate development. It is necessary to improve and implement local package debt reduction plans, create conditions to accelerate the resolution of debt risks of local financing platforms. It is necessary to coordinate risk prevention, strengthen supervision, and promote development, boost investor confidence, and enhance the inherent stability of the capital market. (Xinhua News Agency)
The Political Bureau of the CPC Central Committee: Implement the requirement of "zeroing out" restrictions on foreign investment access in the manufacturing sector and launch a new round of pilot measures to expand the opening up of the service industry
The Political Bureau of the CPC Central Committee held a meeting on July 30. The meeting pointed out that it is necessary to promote high-level opening up, further create a market-oriented, law-based, and internationalized first-class business environment, steadily expand institutional opening up, implement the "zero" requirements for restrictive measures on foreign investment access in the manufacturing sector, launch a new round of pilot measures to expand the opening up of the service industry, and promote the stabilization and recovery of foreign investment utilization. It is necessary to actively cultivate new momentum for foreign trade development and expand trade in intermediate products and green trade. It is necessary to solidly promote high-quality joint construction of the "Belt and Road". (Xinhua News Agency)
Wednesday
State Council Executive Meeting: We must optimize and strengthen macroeconomic policies and increase macroeconomic regulation efforts
Li Qiang presided over the State Council executive meeting to study and implement General Secretary Xi Jinping's important speech on the current economic situation and doing a good job in economic work in the second half of the year. The meeting stressed that it is necessary to optimize and strengthen macroeconomic policies and increase macroeconomic regulation. It is necessary to implement and speed up the progress according to the implementation of the policies that have been issued, and to study and launch a number of incremental policy measures that are highly operational, effective, and accessible to the public and enterprises. (CCTV)
Hamas' armed wing speaks out on Haniyeh's death
The Qassam Brigades, an armed faction of Hamas, issued a statement strongly condemning the assassination of Hamas Political Bureau leader Haniyeh, saying it would push the battle to a new level and have a significant impact on the entire region. The statement also said that this incident sounded a wake-up call for all countries and peoples. The Qassam Brigades will contain Israel and make it pay for its bloody aggression. (CCTV International News)
The Ministry of Foreign Affairs stressed that a comprehensive and permanent ceasefire should be achieved in Gaza as soon as possible
Today, the leader of Hamas was killed in an attack in Iran. Chinese Foreign Ministry spokesman Lin Jian said that we firmly oppose and condemn the assassination. We are deeply worried that this incident may lead to further instability in the regional situation. China has always advocated resolving regional disputes through negotiations and dialogue. Gaza should achieve a comprehensive and permanent ceasefire as soon as possible to avoid further escalation of conflicts and confrontations. (CCTV News)
Iran's Foreign Ministry: Haniyeh's blood "will never be shed in vain"
Iranian Foreign Ministry spokesman Nasser Kanani said in a statement that the blood of Hamas leader Ismail Haniyeh "will never be shed in vain" and his attack will strengthen the deep and unbreakable bonds between Iran, Palestine and the resistance organizations. The details of the incident are still under investigation.
Senior Hamas leader Ismail Haniyeh killed in attack
According to the New York Times, Iran's Revolutionary Guard announced in a statement that senior Hamas leader Ismail Haniyeh was killed in Tehran on Tuesday local time while attending the inauguration ceremony of Iran's new president. The statement said that he and an Iranian security guard were attacked at their residence and further details would be released.
The manufacturing purchasing managers' index was 49.4% in July, and the manufacturing boom was basically stable.
In July, the Purchasing Managers' Index (PMI) for the manufacturing industry was 49.4%, down 0.1 percentage points from the previous month, and the manufacturing industry was basically stable. In terms of enterprise size, the PMI for large enterprises was 50.5%, up 0.4 percentage points from the previous month; the PMIs for medium and small enterprises were 49.4% and 46.7%, down 0.4 and 0.7 percentage points from the previous month. In terms of sub-indexes, among the five sub-indexes that make up the manufacturing PMI, the production index was above the critical point, while the new order index, raw material inventory index, employee index and supplier delivery time index were below the critical point.
Thursday
OPEC+ JMMC meeting will not make recommendations on oil production policy
The OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting began and is not expected to recommend policy changes. The OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting will not make recommendations on oil output policy.
Israel: Killed Hamas military chief who planned October 7 attack
According to the Times of Israel, the IDF confirmed that Hamas military wing commander Mohammad Deev was killed in an airstrike in the southern Gaza Strip last month. The Israeli military said they had received intelligence confirming his death in the past few hours. Deev, who was in the compound of Rafa Salameh, commander of Hamas' Khan Younis Brigade, was also targeted on July 13. A day later, the Israeli military confirmed Salameh's death, but failed to confirm Deev's death. Before launching the attack, Israeli warplanes had been patrolling the compound for half a day. Once the military confirmed the intelligence that Deev had arrived at the compound, Israeli warplanes received the strike order and completed the strike within minutes. Deev, 58, was the mastermind of Hamas' attack on Israel on October 7.
A large silicon-manganese alloy group in the south has reduced its production by 50%
According to Mysteel, a large silicon-manganese alloy factory in the south stopped production of two units in the Baise plant on July 20, and continued to stop production of two units in the Tiandong plant today, and stopped production of one unit in the Guizhou plant. The group's total production reduction is 50%.
National Development and Reform Commission: Further improve the work of ensuring the delivery of houses and accelerate the construction of a new model for real estate development
Yuan Da, deputy secretary-general of the National Development and Reform Commission, said at a press conference held by the State Council Information Office today that the next step is to steadily and orderly resolve risks in key areas. Implement new policies to promote the stable and healthy development of the real estate market, further ensure the delivery of houses, and accelerate the construction of a new model for real estate development. Further implement a package of debt reduction plans and improve relevant measures in a targeted manner. Properly handle financial risks and build a financial stability guarantee system that effectively prevents and controls systemic risks. (China Net)
Caixin China Manufacturing PMI fell to 49.8 in July, falling below the boom-bust line for the first time since November 2023
According to Caixin, the prosperity of China's manufacturing industry declined significantly in July, and the supply still showed a pattern of better than demand. Domestic demand was weak, the purchasing volume index fell below the boom-bust line, and the raw material inventory index fell accordingly. The Caixin China Manufacturing Purchasing Managers' Index (PMI) for July 2024, released on July 1, recorded 49.8, down 2 percentage points from June, and below the boom-bust line for the first time since November 2023.
Friday
CSRC approves registration of egg, corn starch and live pig options
Recently, the China Securities Regulatory Commission approved the registration of egg, corn starch and live pig options of Dalian Commodity Exchange. The China Securities Regulatory Commission will urge Dalian Commodity Exchange to make all preparations to ensure the smooth launch and stable operation of the above-mentioned options.
State Council Office: Formulate and revise carbon emission accounting rules and standards for key industries such as electricity, steel, nonferrous metals, building materials, petrochemicals, and chemicals
The General Office of the State Council recently issued the "Work Plan for Accelerating the Construction of a Carbon Emission Dual Control System". Improve the management system of key energy-consuming and carbon-emitting units. Formulate and revise the carbon emission accounting rules and standards for key industries such as electricity, steel, nonferrous metals, building materials, petrochemicals, and chemicals. Formulate and issue energy-saving and carbon-reduction management measures for key energy-consuming and carbon-emitting units, incorporate carbon emission control requirements into the current management system for key energy-consuming units, promote key energy-consuming and carbon-emitting units to implement energy-saving and carbon-reduction management requirements, and strengthen the deployment and verification and calibration of energy and carbon emission measuring instruments.
General Office of the State Council: Incorporate carbon emission indicators into the national economic and social development plan
The General Office of the State Council issued the "Work Plan for Accelerating the Construction of a Carbon Emission Dual Control System". The "Plan" clearly proposes to incorporate carbon emission indicators into the national economic and social development plan, and requires the establishment and improvement of local carbon assessment, industry carbon control, corporate carbon management, project carbon evaluation, product carbon footprint and other policy systems and management mechanisms. During the "15th Five-Year Plan" period, the reduction of carbon emission intensity will be used as a binding indicator for national economic and social development, and the total carbon emission accounting work will be carried out, and energy consumption intensity will no longer be used as a binding indicator. (Xinhua News Agency)
Israeli army says it killed head of Jihad's weapons manufacturing unit
On August 2, local time, the Israeli Defense Forces issued a statement saying that it had killed Mohammed Jabari, a deputy director of the weapons manufacturing department of the Palestinian Islamic Jihad Organization (Jihad). The Israeli army said that intelligence showed that Mohammed Jabari was responsible for the organization's weapons production in northern Gaza, paid salaries to the organization's armed personnel, and participated in the organization's rocket production and infrastructure restoration work. The Palestinian Islamic Jihad Organization (Jihad) has not yet responded to this.
Union rejects BHP Billiton proposal, world's largest copper mine faces strike shutdown
On August 1, the results of the union vote at the Escondida copper mine in Chile came out, with a total of 2,371 workers voting in favor of the strike, accounting for about 99.75% of the union members. In its latest statement, BHP Billiton said it would ask the government to intervene in mediation in the coming days and hoped to reach an agreement that would meet the workers' wishes and the future sustainability of the Escondida mine. If union members go on strike, the mine will not be able to produce copper because the law prohibits the use of replacement workers, and the union represents 98.5% of Escondida's front-line operators. If this strike becomes a reality, it may once again affect the global copper supply and push up copper prices. (Interface)
Saturday
US Defense Secretary orders adjustment of military posture and increase of military deployment in the Middle East
According to a statement released by the U.S. Department of Defense, on August 2, local time, U.S. Secretary of Defense Austin ordered adjustments to the U.S. military posture to improve the protection capabilities of the U.S. military, increase U.S. support for Israel's defense, and ensure that the United States is ready to respond to various emergencies at any time. According to the statement, Austin ordered the "Abraham Lincoln" aircraft carrier to replace the "Theodore Roosevelt" aircraft carrier strike group currently deployed in the U.S. Central Command area of responsibility, and to send additional cruisers and destroyers with ballistic missile defense capabilities to the U.S. European Command and the U.S. Central Command region. The U.S. Department of Defense is also taking measures to prepare for the deployment of more land-based ballistic missile defense systems. Austin also ordered a fighter squadron to be sent to the Middle East to enhance the U.S. military's air defense support capabilities.
Many countries issued travel warnings for the Middle East and some flights were suspended
Due to the increasing risk of military escalation in the Middle East, many countries have recently issued travel warnings, and some airlines have canceled some flights to Israel and other places. On August 2, local time, the Polish Ministry of Foreign Affairs issued an announcement advising its citizens not to travel to Lebanon, Israel and Iran. According to the Polish News Agency, Polish Airlines announced on the 2nd that it had canceled eight flights to Lebanon and Israel. The French Ministry of Foreign Affairs advised French citizens on the 2nd "not to travel to Iran for any reason" and advised French tourists in Iran to "leave as soon as possible." Previously, the governments of the United States, Britain, Germany and other countries issued travel warnings to their citizens, urging them to leave or avoid traveling to Lebanon. Swiss Airlines, Lufthansa and other airlines announced on August 1 that they would suspend flights to and from Tel Aviv, Israel. Two US airlines have also suspended flights to Tel Aviv.
As of the end of June 2024, the total number of effective customers in the domestic futures market is 2.33 million
Since 2024, the futures account opening business has maintained steady growth, and the total number, increase and quality of futures customers have steadily improved. The customer scale continues to expand. In the first half of 2024, the number of new customers in the futures market was 400,000, an increase of 16% compared with the same period last year. As of the end of June 2024, the total number of effective customers in the entire market was 2.33 million, a record high. The total number of overseas customers has increased nearly five times compared with five years ago. The structure of traders continues to improve. As of the end of June 2024, the number of customers, trading volume and positions of institutional traders in the entire market increased by 139%, 188% and 358% respectively compared with the same period in 2019, and the growth rates of the above three items of individual traders were 65%, 68% and 197% respectively. The growth rate of institutional traders was significantly higher than that of individual traders. (China Futures Market Monitoring Center)
SASAC: Effectively play the role of "stabilizer" and "ballast stone" of the national economy
According to the website of the State-owned Assets Supervision and Administration Commission, the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council held an enlarged meeting on August 2. The meeting emphasized that it is necessary to place further deepening of reform in a more prominent position, firmly grasp the high-quality stable growth, continue to deepen the quality and efficiency, vigorously promote scientific and technological innovation and industrial innovation, deepen the development of strategic emerging industries and future industries, continue to promote the high-end, intelligent and green development of traditional advantageous industries, deepen the reform and upgrading of state-owned enterprises, actively respond to risks and challenges, maintain strategic determination, boost development confidence, consolidate the continuous recovery of the economic operation of central enterprises, unswervingly complete the annual goals and tasks, continue to strengthen, optimize and expand state-owned capital and state-owned enterprises, and effectively play the role of "stabilizer" and "ballast stone" of the national economy.
Iranian diplomat: Will launch a "lightning and tough" response to Israel
According to a report by The Wall Street Journal on the 2nd, an Iranian diplomat said that it was fruitless for multiple countries to try to persuade Iran not to retaliate against Israel, and Iran would launch a "lightning-hard" response. According to reports, an Iranian diplomat who has been briefed by the Iranian government revealed that in view of Israel's recent attacks, it was fruitless for multiple countries to persuade Iran not to escalate the situation. "It makes no sense. Israel has crossed all red lines, and we will launch a lightning-hard response," the official said. The source also said that Iran and Hezbollah in Lebanon believe that the response to Israel "should be more intense than the shelling launched in April" in any case. Hezbollah in Lebanon also said that the response may not be a single attack, but a series of actions.
The State Council issued the "Opinions on Promoting the High-Quality Development of Service Consumption"
The State Council recently issued the "Opinions on Promoting the High-Quality Development of Service Consumption" (hereinafter referred to as the "Opinions"). The "Opinions" put forward 20 key tasks in 6 areas. The first is to tap the potential of basic consumption such as catering and accommodation, domestic services, and elderly care and childcare. The second is to stimulate the vitality of improved consumption such as cultural entertainment, tourism, sports, education and training, and residential services. The third is to cultivate and expand new types of consumption such as digital, green, and healthy. Fourth, enhance the momentum of service consumption, innovate service consumption scenarios, strengthen the cultivation of service consumption brands, relax market access for the service industry, and continue to deepen the opening up of telecommunications and other fields. Fifth, optimize the service consumption environment, strengthen service consumption supervision, guide honest and compliant operations, and improve service consumption standards. Sixth, strengthen policy guarantees, strengthen fiscal and taxation support, consolidate talent team support, and improve statistical monitoring levels. (Xinhua News Agency)
Sunday
Israeli negotiating delegation returns from Cairo after Gaza ceasefire talks
The Israeli negotiating delegation went to Cairo, the capital of Egypt, on the morning of the 3rd to discuss issues related to the ceasefire and personnel exchange agreement in Gaza with the Egyptian side, and returned to Israel in the afternoon of the same day. Some analysts said that the negotiations were launched by Israel in response to the ceasefire pressure exerted by US President Biden. However, given that the so-called non-negotiable "red line" previously proposed by Israeli Prime Minister Netanyahu is actually a new condition proposed outside the framework of the draft agreement passed by all parties, and Netanyahu has always maintained a tough stance, Hamas has clearly rejected this. At the same time, considering that the recent attack and death of Hamas leader Haniyeh has had a huge impact on the negotiations, it is difficult for this negotiation to make real progress. (CCTV News)
Tropical Storm Debbie forms and continues to move towards Florida, USA
The tropical depression has strengthened into Tropical Storm Debbie as it moves across the Gulf of Mexico toward Florida, USA. Winds and thunderstorms have spread to southern Florida, the Florida Keys and the Bahamas. By the evening of the 4th, Debbie may bring rain and coastal flooding to much of the Florida Gulf Coast. Forecasts show that the system may come ashore as a strong tropical storm or hurricane on the 5th and cross northern Florida into the Atlantic Ocean.
US and Israeli officials: Iran expected to launch attack on Monday
According to the AXIOS website, two U.S. officials said that the commander of the U.S. Central Command, Kurilla, arrived in the Middle East on Saturday local time. Three U.S. and Israeli officials said they expected Iran to launch an attack on Monday. It is reported that Kurilla's trip to the Middle East was planned before the recent escalation of tensions between Israel, Iran and Hezbollah. He will visit several Gulf countries, Jordan and Israel, but he is expected to use this visit to try to mobilize international and regional coalitions. U.S. and Israeli officials said they did not know whether Iran and Hezbollah would launch a joint attack or act separately. They also said that they believed that both Iran and Hezbollah were still working to finalize their respective military plans and approve them at the political level.
Libya's largest oil field is reported to have partially stopped production, with daily output falling by 30,000 barrels
Three people with direct knowledge of production said Sharara, Libya's largest oil field, had begun a partial shutdown. Output at Sharara fell by 30,000 barrels per day to 230,000 barrels per day after operators received orders to begin a partial shutdown, according to people familiar with the matter. It was not clear why the closure was taking place or when the field would completely stop producing. The field, located in southeastern Libya, is jointly developed by Libyan National Oil Corp, France's Total, Spain's Repsol, Austria's OMV AG and Norway's Statoil. Libya has Africa's largest oil reserves, but energy production is often at the heart of political conflict, with armed groups or protesters shutting down facilities from time to time to make their demands.
Netanyahu: Hamas is hindering negotiations, warns Iran not to attack Israel
Israeli Prime Minister Benjamin Netanyahu insisted that he was "ready to go a long way to free all our hostages while maintaining Israel's security." He denied recent reports that he was adding demands to the current hostage ceasefire in an attempt to hinder negotiations. "We are not adding any demands. Hamas is the one making dozens of demands." Netanyahu also warned Iran not to attack Israel, saying that "we will respond and make any attack on us pay a heavy price, no matter where it comes from." His comments come as Israel prepares for possible attacks from Iran and Hezbollah in the coming days, which are assessed to come from multiple directions.
White House official: Calling on citizens to leave Lebanon is prudent planning, sending an aircraft carrier is for defense
According to CBS, Jon Feiner, the White House's chief deputy national security adviser, said the United States urged its citizens to leave Lebanon in an attempt to prepare for any situation in the Middle East. This move is not a prediction, but a prudent plan. The United States moved the aircraft carrier to the Middle East purely for defensive reasons. The overall goal is to cool down the situation in the region.
Article forwarded from: Jinshi Data