Page 84 - Eco News Today

Most stock markets in the Gulf rose in early trading on Monday after lawmakers in Washington reached a tentative agreement on the U.S. debt ceiling deal, although concerns about more Federal Reserve interest rate hikes capped gains.

India's state-run Oil and Natural Gas Corp said oil output from the Sakhalin-1 project in Russia has bounced back to its plateau level of about 200,000 barrels per day (bpd) from zero, according to a company presentation.

Chinese Commerce Minister Wang Wentao urged Japan to halt semiconductor export controls, calling it a "wrongdoing" that "seriously violated" international economic and trade rules, a statement from his ministry said on Monday.

Canada's main stock index was virtually flat at the open on Monday as a decline in commodity-linked stocks offset investor relief after Washington struck a debt ceiling deal over the weekend.

The debt ceiling deal that U.S. President Joe Biden and House Republican Kevin McCarthy agreed over the weekend adds new conditions to food aid that will impact one segment of the U.S. population specifically - GenXers with no dependents.

Voters in Alberta, Canada's main oil-producing province, will go to the polls on May 29 to elect a new government, in what is expected to be a tight race pitting Premier Danielle Smith's ruling United Conservative Party (UCP) against Rachel Notley's New Democratic Party (NDP).

The outlook for Africa's debt sustainability remains "cloudy" as low growth and high inflation challenge the stability of many economies across the continent, the World Bank's Africa chief economist said on Monday.

Nigeria's new president Bola Tinubu faces a litany of problems, including widespread violence, double-digit inflation and industrial-scale oil theft.

The U.S. House Rules Committee said it will meet on Tuesday afternoon to discuss the debt ceiling bill, which needs to pass a narrowly divided Congress before June 5, when the U.S. Treasury says it would run short of money to cover all its obligations.

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