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Economy

Oil inches up after China moves to support flagging economy

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. Picture taken July 17, 2018. REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsSINGAPORE, Aug 28 (Reuters) - Oil prices ticked higher on Monday after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand.Brent crude rose 19 cents, or 0.2%, to $84.67 a barrel by 0627 GMT, while U.S....
Banking

Russia prepares decree to unfreeze and swap assets with foreign investors

A Russian state flag flies over the Central Bank headquarters in Moscow, Russia, August 15, 2023. A sign reads: "Bank of Russia". REUTERS/Shamil Zhumatov/File Photo Acquire Licensing RightsAug 23 (Reuters) - Russian authorities are working on a draft presidential decree to give the country's retail investors a way to unblock their frozen assets held in overseas accounts and sell them to foreign parties, the central bank said on Wednesday.International sanctions against Moscow over its invasion of Ukraine have blocked many Russian investors' access to securities held in jurisdictions outside the...
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