Oil hovers above $74 after Chinese data

Wednesday, June 02, 2010

Oil held above $74 yesterday after Chinese factory data signalled sustained growth at the world's second-largest user, outweighing concerns about a potential slowdown in European economy.

Although China's factories scaled back production last month and slowed the pace of hiring in response to a drop in new orders from both home and abroad, the purchasing managers' index (PMI) reading for May still held above the threshold that demarcates expansion from contraction.

Euro zone economic sentiment unexpectedly fell last month, data showed on Monday, an indication that the region's debt crisis has begun affecting the real economy.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

The Projects Magazine today launched The Future of Mining Summit, set to become the country’s premier mining conference. The event is scheduled for 12th and 13th of June 2024, at Boipuso Hall, Fairgrounds in Gaborone.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

Staff Writer | 14 h ago

MISA Botswana celebrates World Press Freedom day

Staff Writer | 14 h ago

Unlawful wounding turns to murder

Sharon Mathala | 14 h ago

Mahalapye suspected copper cable thief nabbed

Pini Bothoko | 14 h ago

TAFIC targets top four finish

Larona Makhaiza | 18 h ago

Selefu

18 h ago

Selefu

18 h ago

Repatriation underway for seven SA Pilgrims

Boikanyo Mathonsi | 1d ago

Stakeholders must step up veggie supply

The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...

The Monitor Editor | 29 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Oil hovers above $74 after Chinese data

Oil held above $74 yesterday after Chinese factory data signalled sustained growth at the world's second-largest user, outweighing concerns about a potential slowdown in European economy.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

MISA Botswana celebrates World Press Freedom day

Unlawful wounding turns to murder

Mahalapye suspected copper cable thief nabbed

TAFIC targets top four finish

Selefu

Selefu

Repatriation underway for seven SA Pilgrims

Stakeholders must step up veggie supply