teevabro

  Abdulaziz bin Salman, Saudi Arabia’s energy minister, speaks during a panel session at the Qatar Economic Forum in Doha, Qatar on May 23, 2023. Bloomberg | Bloomberg | Getty Images Saudi oil minister Prince Abdulaziz bin Salman on Tuesday told market speculators to “watch out,” reiterating his warning that they could face pain ahead. “Speculators, like in any market, they are there to stay. I keep advising that they will be ouching. They did ouch in April. I don’t have to show my cards, I’m not [a] poker player (…) but I would just tell them, watch out,” he said during an energy-focused panel of the Qatar Economic Forum in Doha. The Saudi oil minister has previously struck out against oil price speculators looking to profit off predicting the output decisions of OPEC+, which next meets on June 4. Most recently, several members of the OPEC+ alliance voluntarily — and independently from the group’s broader strategy — announced they would cut their crude oil production by a combined...

  INTS The Group of Seven leaders said in a joint statement, “We are not decoupling or turning inwards. At the same time, we recognize that economic resilience requires de-risking and diversifying.” The move was largely previewed by U.S. Treasury Secretary Janet Yellen when she spoke to the press at the G7 Finance Ministers and Central Bank Governors’ meeting earlier this month. Goldman Sachs economists Hui Shan and Andrew Tilton said there may be more measures to follow The Committee on Foreign Investment in the United States. Chinese President Xi Jinping and hands with then U.S Vice President Joe Biden inside the Great Hall of the People on December 4, 2013 in Beijing, China. Lintao Zhang | Getty Images News | Getty Images Leaders of the Group of Seven agreed there’s a need to de-risk, not decouple from China, and acknowledged challenges posed by the mainland’s practices which “distort the global economy.” “We are not decoupling or turning inwards,” the G-7 said in a joint statem...

  is is CNBC’s live blog covering Asia-Pacific markets. The People’s Bank of China (PBOC) building in Beijing, China, on Tuesday, April 18, 2023. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets traded mixed on Monday after the Group of Seven summit in Hiroshima concluded and  talks on the debt ceiling are slated to resume  in the U.S. Hong Kong’s  Hang Seng index  rose 0.16%, while the Hang Seng Tech index also rose 0.39%. In mainland China, the  Shanghai Composite  slid 0.15% and the  Shenzhen Component  was 0.44% lower as the People’s Bank of China left its 1-year and 5-year loan prime rates unchanged. South Korea’s  Kospi  reversed earlier losses earlier and gained 0.78%, and the Kosdaq rose 0.8%. Japan’s markets also erased earlier losses, with the  Nikkei 225  gaining 0.11% and the Topix rising 0.14% following its outperformance last week. In Australia, the  S&P/ASX 200  was 0.25% lower. TICKER...

  U.S. House Speaker Kevin McCarthy (R-CA) speaks to reporters with U.S. Senate Republican Minority Leader Mitch McConnell (R-KY) at his side following debt limit talks at the White House in Washington, U.S., May 9, 2023.  Kevin Lamarque | Reuters The on-again, off-again deliberations on Capitol Hill surrounding the debt ceiling are back off-again, as House Speaker  Kevin McCarthy  told reporters on Saturday Republicans will only continue negotiations when President  Joe Biden  returns from the Group of Seven Summit in Japan. “Unfortunately, the White House moved backwards,” McCarthy said about the current deliberations surrounding the debt ceiling. “I don’t think we’re going to be able to move forward until the president can get back in the country,” he added. RELATED INVESTING NEWS As the debt ceiling deadline creeps closer, investors await deal from Washington Zev Fima Matthew J. Belvedere 12 HOURS AGO On Saturday evening,  the Biden administration ...