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China may set air defense in S China Sea

CHINA

China may set air defense in S China Sea

A senior Chinese military official says China could establish an air defense zone over disputed areas in the South China Sea if it deems it necessary.

Iran, China work out new oil payment plan

ECONOMY

Iran, China work out new oil payment plan

Iran and China have agreed on a new arrangement for crude oil payments under which Beijing will reimburse part of the money owed to Tehran in cash, a leading Iranian trader said on Monday.

IMF lowers Ukraine growth forecast

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IMF lowers Ukraine growth forecast

The International Monetary Fund (IMF) lowers its growth forecast for Ukraine to the worse-than-expected minus nine percent.

Iran: Pirate attacks on oil cargo soar

ENERGY

Iran: Pirate attacks on oil cargo soar

Pirate attacks targeting commercial shipping, including oil cargo, have sharply increased, Managing Director of National Iranian Tanker Company (NITC) Ali Akbar Shafa’ie has said.