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  • Reuters

    Marketmind: All in on reopening

    Soft demand and weak economic activity remain a drag on China as the world's second-biggest economy slowly but surely shakes off its COVID restrictions. An index of Chinese gambling stocks is up more than 60% in two weeks, all while the spectre of an economic slowdown looms large. Meanwhile, Keystone pipeline in the United States was shut down after more than 14,000 barrels of crude oil spilled into a creek in Kansas.

  • Reuters

    Philippine economic managers back bill creating sovereign fund

    Philippine economic officials have thrown their support behind the creation of a sovereign wealth fund backed by President Ferdinand Marcos Jr amid opposition from some groups due to concerns over the risk of corruption and transparency. The economic managers "strongly support" the proposed sovereign wealth fund to generate additional income for the government, Finance Secretary Benjamin Diokno told a media briefing, as he called for the speedy passage of the bill creating the fund. The bill, whose principal authors in the House of Representatives include Marcos' son and cousin, has drawn strong opposition from business groups and ordinary citizens after it originally proposed to source part of the initially planned $4.9 billion seed money from state-run pension funds.

  • Reuters

    MORNING BID-All in on reopening

    Soft demand and weak economic activity remain a drag on China as the world's second-biggest economy slowly but surely shakes off its COVID restrictions. An index of Chinese gambling stocks is up more than 60% in two weeks, all while the spectre of an economic slowdown looms large. Meanwhile, Keystone pipeline in the United States was shut down after more than 14,000 barrels of crude oil spilled into a creek in Kansas.