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Eyeing China, EU to unveil plans to combat economic risks
Eyeing China, EU to unveil plans to combat economic risks
by  AFP

The EU will on Tuesday detail the economic security risks facing the bloc and new tools Brussels can use as it seeks to muscle up against rivals Russia and China. The EU this year agreed to establish a trade tool that would go after countries that seek to put pressure on one of its members after China targeted Lithuania in a spat over Taiwan.

China's central bank cuts two benchmark interest rates
China's central bank cuts two benchmark interest rates
by  AFP

China's central bank on Tuesday cut two benchmark interest rates, following several similar measures last week in a bid to counter the post-Covid growth slowdown in the world's second-largest economy. China's six largest state-owned commercial banks cut interest rates for savers earlier this month to boost spending, according to announcements on their websites, after a request by the central bank.

Berlin, Intel strike controversial chip plant subsidy deal
Berlin, Intel strike controversial chip plant subsidy deal
by  AFP

Berlin agreed Monday to grant US chip giant Intel subsidies totalling almost a third of the cost of a 30-billion-euro ($32.7-billion) German plant in a controversial decision following a months-long row. The project, now projected to cost a total of 30 billion euros, had originally been expected to cost 17 billion, the government sources said.

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