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Iran inaugurates last phase of mega-gas field
Iran inaugurates last phase of mega-gas field
by  AFP

Iranian President Ebrahim Raisi inaugurated on Monday the last phase of the South Pars gas field, one of the world's largest natural gas condensate field and the country's biggest. Raisi meanwhile complained that foreign companies, including French energy giant Total, "had not fulfilled their obligations to complete the 11th phase of South Pars", leaving Iranian experts to do the job.

China EV giant XPeng to buy rival for more than $740 million
China EV giant XPeng to buy rival for more than $740 million
by  AFP

Chinese electric car giant XPeng said Monday it would buy the EV subsidiary of ride-hailing platform Didi for more than $740 million and launch a new brand of vehicles. In a filing to the Hong Kong Stock Exchange -- where XPeng is listed -- the car giant said it had reached a deal with Didi to buy that subsidiary for $744 million.

Markets rally on Powell comments, China boosted by duty cut
Markets rally on Powell comments, China boosted by duty cut
by  AFP

Asian markets rose Monday after Federal Reserve chief Jerome Powell said officials would take a careful approach regarding interest rate hikes, while Chinese shares soared after the government cut the duty on trades. Officials also said they would slow the pace of new listings, which usually suck up market liquidity.

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