Israel's Modiin Energy plans to buy North Sea drilling rights
TEL AVIV Modiin Energy said on Sunday it signed a letter of intent to buy 25 percent of the oil drilling rights in a site in shallow North Sea waters in British territory.
BEIJING China may adjust its investment in U.S. Treasuries while reductions in Treasury holdings is a tactical move, foreign exchange regulatory official Li Hongyan told reporters on Thursday.
China needs to take "counter-cyclical" steps to control large capital outflows, said Wang Chunying, spokeswoman for the State Administration of Foreign Exchange (SAFE).
China's outbound direct investment has been too much and too fast this year, Wang said.
The authorities can keep the yuan basically stable, central bank chief economist Ma Jun said at the same briefing, as optimism about the U.S. dollar may be overdone.
(Reporting by Kevin Yao; Editing by Jacqueline Wong)
VIENNA OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade, energy ministers said on Sunday as producers look to reduce oversupply and support prices.
TAIPEI Foxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion (£5.6 billion), company chairman and chief executive Terry Gou said on Sunday.