Shanghai

Xi Jinping heads to Europe on Sunday to defend China's "no limits" alliance with Russia, first to key Ukraine backer France, then to Serbia and Hungary, which have close ties to the Kremlin.

The world's second-biggest economy is seeking to deepen political and economic ties in Europe to counterbalance difficult relations with rival Washington.

Apple has said its quarterly profit ebbed but topped market forecasts as it announced an unprecedented $110 billion share buyback.

The iPhone maker reported a profit of $23.6 billion on $90.8 billion in revenue in the first three months of this year.

As expected, iPhone sales dropped with pressure growing from China and increased competition from Huawei.

Tesla reached an accord with Chinese authorities for a plant in Shanghai, its first outside the United States, in 2018

German Chancellor Olaf Scholz said Tuesday he hoped Berlin and Beijing could help achieve a "just peace" in Ukraine, as he met President Xi Jinping in the Chinese capital.

The chancellor arrived in China on Sunday, accompanied by a large delegation of ministers and business executives on his second visit to the country since taking office.

World oil prices sank Monday as traders bet on de-escalation in the Middle East despite a strike on Israel by key crude producer Iran.

Brent and WTI prices shed one percent while global stock markets diverged.

Chinese airline Juneyao marked its significant opening to the Greek tourism market last week with the inauguration of the first direct flight from Shanghai to Athens.

"Support Chinese chips, join the enterprise of the century" read an upbeat slogan at a recent semiconductor industry fair in Shanghai, where the mood was defiant despite the intense pressure placed on the sector by geopolitical tensions.

Logistic experts foresee serious consequences of the crisis in the Red Sea. The majority of world goods turnover is realized by sea transport. After a series of challenges in 2022-2023, including the Covid-19 pandemic, the lack of equipment and the Suez Canal blockage, at the end of 2023 - a new maritime transport crisis arose. It threatens world trade and negatively affects the economy.

Stock markets fell yesterday as traders took a step back following last week's rally, with Federal Reserve officials looking to temper expectations the U.S. central bank will cut interest rates several times next year.

'The Taste of Things,' which hopes to win an Oscar nod in January, is a sumptuous 19th century romance about a cook.

Controversy has simmered around France's entry for the Oscars, "The Taste of Things," a love letter to the country's culinary traditions but filmmaker Tran Anh Hung and star chef Pierre Gagnaire say the art of cooking is worth celebrating.