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China announces consumption-boosting measures as data disappoints
China announces consumption-boosting measures as data disappoints
by  AFP

Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country's post-Covid recovery is running out of steam and growth is slowing. Official figures released Monday showed factory activity contracting for the fourth straight month in July, adding to a run of dismal economic data that has ramped up calls for government support measures.

UK to issue 'hundreds' of new oil, gas licences in North Sea
UK to issue 'hundreds' of new oil, gas licences in North Sea
by  AFP

The UK government said Monday it would issue "hundreds" of new oil and gas licences in the North Sea to secure energy reserves while still aiming for net zero carbon emissions by 2050. Sunak added that even when Britain reaches its net zero target by 2050, a quarter of its energy needs will come from oil and gas.

Eurozone economy rebounds as inflation slows in July
Eurozone economy rebounds as inflation slows in July
by  AFP

Economic growth in the eurozone rebounded in the second quarter, data showed Monday, but concerns remain over inflation that is slowing yet still stubbornly high, and over stagnation in the German economy. There will be further concerns over the health of Germany's economy as inflation remains high, reaching 6.5 percent in July, Eurostat said, down slightly from 6.8 percent in June. raz/rmb/js

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