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Shanghai lifts home-buying curbs to boost property sector
Shanghai lifts home-buying curbs to boost property sector
Economy
by  AFP

Shanghai has relaxed rules on buying property in the city, as local governments across China aim to ease an agonising real estate crisis that is dragging on the economy. This month, Beijing cut the minimum down payment rate for first-time homebuyers to its lowest level in history and suggested the government could buy up unused commercial real estate.

Brazil's new Petrobras chief calls to speed up oil exploration
Brazil's new Petrobras chief calls to speed up oil exploration
Economy
by  AFP

The new boss of Brazil's Petrobras said Monday it was crucial that the state-run company "accelerate" oil exploration, including in a controversial offshore basin near the mouth of the Amazon River. The Equatorial Margin is a basin near the mouth of the Amazon River, that is considered Brazil's most promising frontier for oil exploration, with studies suggesting it holds massive crude deposits.