Xinhua world economic news summary at 0900 GMT, July 23
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CANBERRA -- The Australian government has announced the nation's biggest budget deficit since World War II.
Treasurer Josh Frydenberg and Mathias Cormann, minister for finance, on Thursday delivered an update on Australia's economic and fiscal outlook in the wake of the COVID-19 pandemic. (Australia-Budget Deficit)
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VIENNA -- The Organization of the Petroleum Exporting Countries (OPEC) daily basket price stood at 44.24 U.S. dollars a barrel on Wednesday, compared with 44.29 dollars per barrel on Tuesday, according to OPEC Secretariat calculations released Thursday.
Also known as the OPEC reference basket of crude oil, the OPEC basket, a weighted average of oil prices from different OPEC members around the world, is used as an important benchmark for crude oil prices. (OPEC-Price)
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MANILA -- China remains the Philippines' top export market with almost 27 percent of the Philippines' total exports being shipped to the world's second largest economy, the Philippines' Department of Trade and Industry (DTI) said on Thursday.
The DTI said China is also the top import supplier accounting for 23 percent of the Philippines' total imports, as well as the Philippines' top trading partner. (Philippines-China-Export)
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SINGAPORE -- The Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) said in a joint press release on Thursday that Singapore's consumer price index for all items (CPI-All Items) inflation was -0.5 percent in June, compared to -0.8 percent in May.
This is the third successive month for Singapore to see negative CPI-All Items inflation. The two authorities attribute the inflation increase mainly to a smaller decline in private transport costs. (Singapore-CPI).
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MUMBAI -- India's Wipro on Thursday said it will launch its 5G edge services solutions suite built with U.S. technology major IBM's software systems that will enable customers to have automated and secured operations with better control and at reduced costs.
The solutions suite built with IBM's Tririga and Edge Application Manager, is designed to significantly enhance Wipro's existing Boundary-Less Enterprise-Universal Edge portfolio, that will allow communication service providers and mobile tower operators to deploy their applications into dispersed edge devices, the company statement said. (India-America-5G) Enditem
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