News

Golden Ten Data reported on July 3 that the Italy S&P Global Purchasing Managers Index (PMI) rose from 49.4 in May to 50.2 in June, marking the first time it has crossed the 50-point threshold since late February, when the US and Israel attacked Iran. This indicates that Italy's service sector saw a slight expansion in June after three months of contraction. Signs of easing tensions in the Middle East have helped relieve cost pressures; the input cost inflation indicator fell significantly from 66.7 in May to 62.1, still at historically high levels, but this is its first decline since January. The “prices charged” indicator also dropped from 54.1 in May to 52.8. S&P Global economist Eleanor Dennison said, “Signs of cooling inflation will bring some relief to service providers and consumers.”

On July 3, South Korean Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced a plan to encourage major companies to invest over 312 trillion won (approximately 204 billion USD) in the southeastern region (Gyeongsangnam-do) to develop advanced manufacturing and AI industries. According to the specific plan, SK Group, Samsung, Hanwha, and Hyundai Motor will each invest about 140 trillion, 60 trillion, 55 trillion, and 42 trillion won, respectively, focusing on fields such as semiconductors, AI, and aerospace. LG and Doosan will also follow up with investments. Additionally, South Korea announced a national aerospace strategy centered around Sacheon, aiming to create an aerospace industrial belt along the southern coast.

Golden Ten Data reported on July 3 that Baodi Mining announced, after company research, that to ensure a smooth transition between the old and new mineral processing plants, it has decided to adjust the production plan of its wholly-owned subsidiary Congling Energy and temporarily suspend production. The company will resume production in a timely manner based on the construction progress of the new processing plant, and will issue a separate announcement at that time.