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China factory activity stalls in May as demand weakens

BEIJING, May 31 (Reuters): China's factory activity stalled in May as new export orders contracted and input costs kept rising, an official survey showed on Sunday, adding to concerns the world's second-largest economy is losing momentum despite pockets of strength in services and high-tech manufacturing.The official manufacturing purchasing managers' index...

India scraps cotton import duty for five months to aid textile exporters

NEW DELHI, May 31 (Reuters): India has scrapped customs duties on cotton imports for five months, the government said on Saturday, as it seeks to boost supplies of contamination-free natural fibre for textile exporters amid strong overseas demand for yarn.The easing of import restrictions by the world's second-largest cotton producer...

S Arabia may lower July oil prices to Asia as demand weakens

SINGAPORE, May 31 (Reuters): Saudi Arabia is likely to cut its official selling prices (OSPs) for crude oil to Asia in July for a second month, a Reuters survey showed, as spot premiums eased on sluggish demand despite supply disruptions stemming from tensions in the Middle East.The July OSP for...

Sri Lanka raise fuel prices after IMF loan instalment

COLOMBO, May 31, (AFP): Sri Lanka raised fuel prices by up to six percent on Sunday, in line with IMF plans to recover energy costs and phase out subsidies to stabilise the economy.Petrol was raised to 434 rupees ($1.33), up from 410, while diesel increased to 407 rupees a litre...

SoftBank to build up AI data centres in France with major investment

PARIS, May 31 (Reuters): Japan's SoftBank Group will invest EUR45 billion over the next five years in a push to build up artificial intelligence infrastructure in France, the company announced on Saturday. SoftBank said the investment, described as the biggest of its kind so far in Europe, would be made...

Iran war forces farmers to seek fertilizer alternatives from cow dung to compost

DAKAR, Senegal, May 31 (AP): When Senegalese farmer Abou Sow first watched U.S. missiles strike Iran on social media, he had a sinking feeling it would soon affect agriculture in the West African nation. Since the war began on Feb. 28, fertilizer prices have risen by 40%.Sow was better prepared...