INDIA GOVT OFFICIAL: INDIA HAS BEEN BUYING RUSSIAN OIL IRRESPECTIVE OF U.S. WAIVER

A South Korean court has granted Samsung Electronics an injunction restricting planned industrial action, ruling that staffing levels for safety, maintenance and product quality must remain normal during a proposed 18-day strike set to begin Thursday. The Suwon District Court also barred unions from blocking facilities or obstructing workers, with fines of up to Won100mn per day for violations. The decision weakens the strike threat and comes as Samsung held last-minute talks with unions, amid government warnings that a walkout could severely damage the economy. Workers are demanding an end to bonus caps and a profit-linked bonus system. Samsung shares rose more than 4% following the ruling and have more than doubled this year.

China’s statistical authority said the foundation for domestic price stability has not changed, according to remarks by Wang Guanhua, deputy head of the National Bureau of Statistics’ comprehensive statistics department, at a State Council briefing, Securities Times reported. He said consumer prices in April rose moderately, with fluctuations in international crude oil having only a limited impact on domestic fuel prices and showing a relatively clear structural effect concentrated in specific categories. Wang added that future volatility in global oil prices is inevitable and will affect domestic prices to some extent, but China’s ample supply of goods and services, strong energy security, stable industrial and supply chains, and smooth logistics system will continue to support price stability.