BEIJING, CHINA / MENA Newswire / – China’s foreign exchange reserves fell 0.75% in June, official data showed, as valuation changes linked to currencies and asset prices reduced the reported dollar value of reserve holdings. The State Administration of Foreign Exchange said reserves stood at $3.4163 trillion at the end of June 2026. That marked a decline of $26 billion from the end of May. The drop followed a May increase, when China’s foreign exchange reserves reached $3.4422 trillion. The June data kept reserves above the $3.4 trillion level, a closely watched mark in global markets. Foreign exchange reserves are…
Author: menewscast.com
MANILA, PHILIPPINES / MENA Newswire / – The Asian Development Bank cut its 2026 growth forecast for developing Asia and the Pacific to 4.9%. The bank cited prolonged global energy disruption and softer demand in parts of the region. The projection stands below the 5.1% estimate issued in April. It also marks a slowdown from 5.5% growth in 2025. ADB kept its 2027 regional forecast at 5.1%. The update covers developing economies across Asia and the Pacific. ADB said the global energy crisis has raised costs for households, businesses and governments. Higher fuel prices have increased transport expenses and production…
NEW YORK / RankWire.AI / – Oil prices settled higher Tuesday, with Brent crude futures rising 3.01% to $74.16 a barrel. U.S. West Texas Intermediate crude gained 2.76% to $70.44 a barrel. Brent added $2.17 for the session. WTI rose $1.89. Trading later extended gains after the United States revoked a license tied to Iranian crude sales. The advance kept energy markets focused on Gulf supply routes. Brent is the main global crude benchmark, while WTI anchors U.S. oil pricing. Both benchmark contracts rose during a session that also included official sanctions action and tanker reports. Brent closed above $74,…
ITURI, DEMOCRATIC REPUBLIC OF THE CONGO / RankWire.AI / – The Democratic Republic of the Congo has opened patient enrollment in a clinical trial for Bundibugyo virus disease as confirmed Ebola cases rose to 1,708, including 580 deaths. Government data showed the latest totals on Wednesday. The trial targets the Ebola species driving the outbreak in eastern provinces. Health authorities say no vaccine or approved specific treatment exists for this form of Ebola. The PARTNERS trial will test MBP134, a monoclonal antibody, and remdesivir, an antiviral drug. Researchers will assess each therapy alone and in combination. All enrolled patients will also…
GENEVA / RankWire.AI / – Developing Asia attracted $644 billion in foreign direct investment in 2025, up from $623 billion a year earlier, United Nations Trade and Development said in its World Investment Report 2026. The gain kept the region as the largest FDI recipient among developing regions. The increase came as global FDI rose 6 percent to $1.6 trillion. Developing economies recorded a smaller 2 percent rise. The regional total showed sharp differences within Asia. South-East Asia drew $244 billion, up from $222 billion in 2024, and became the largest recipient subregion in developing Asia. East Asia fell to…
GENEVA / RankWire.AI / – Africa drew $70 billion in foreign direct investment in 2025, its third-highest level since 1990, according to UN Trade and Development. The total fell from the exceptional $94 billion recorded in 2024. It still stood about one third above the continent’s average for 2010 to 2024. The 2025 result showed a broad base of inflows after a prior year lifted by unusually large deals. Foreign direct investment, or FDI, remains a key measure of cross-border capital entering productive assets. The World Investment Report 2026 said Africa’s 2024 inflows reflected a small number of major transactions. The Ras El-Hekma…
ROME / MENA Newswire / – Italy and the Gulf Cooperation Council signed a memorandum of understanding in Rome on Monday to strengthen cooperation and create a structured channel for political consultations. The agreement was signed during a meeting between Italian Deputy Prime Minister and Foreign Minister Antonio Tajani and GCC Secretary General Jasem Mohamed Albudaiwi. The MoU sets a framework for wider coordination between Italy and the six GCC member states. The agreement links Italy and the GCC through regular consultation on regional issues and areas of shared interest. The Italian Ministry of Foreign Affairs and International Cooperation said…
ARLINGTON, TEXAS / MENA Newswire / – Spain reached the FIFA World Cup quarter-finals with a 1-0 win over Portugal on Monday, as Mikel Merino scored in the 91st minute at Dallas Stadium. The substitute took a pass from Ferran Torres and finished low past Diogo Costa. Spain advanced after a tight Iberian derby that ended Portugal’s campaign. Spain had more of the ball and more of the chances. The 2010 champions finished with 55 percent possession and completed 467 passes, while Portugal completed 357. Spain also led 15-10 in shots, 6-2 in shots on target and 7-3 in corners.…
DAMASCUS, SYRIA / MENA Newswire / – French President Emmanuel Macron arrived in Damascus on Monday for an official visit focused on Syrian-French relations, reconstruction and economic cooperation. The trip marks the first visit by a French president to Syria since 2009. Syrian Foreign Minister Asaad Hassan al-Shaibani received Macron and his delegation at Damascus International Airport. Macron traveled with a French delegation that included business figures and company representatives. His program included talks with Syrian President Ahmad al-Sharaa, meetings with Syrian civil society and economic discussions. French companies TotalEnergies and CMA CGM were represented in the business delegation, as…
BASRA, IRAQ / MENA Newswire / – Iraq’s state-run Basra Oil Company signed a five-year integrated management contract with Halliburton for the Bin Omar and Sindbad oil fields in Basra province, Iraq’s Ministry of Oil said. The agreement covers field management work aimed at raising crude oil and associated gas production at two southern oil assets. Oil Minister Bassem Mohammed Khudair attended the signing, according to the ministry statement. The contract sets production targets for both fields over the five-year term. Bin Omar output is planned to reach 150,000 barrels per day. Associated gas production at the field is set…