Briefly

Retail prices of diesel, gasoline reduced

Retail prices of gasoline and diesel have been reduced in the country from Friday. Based on recent changes in international oil prices, the retail prices of gasoline and diesel will be cut by 160 yuan ($24) and 150 yuan per metric ton, according to the National Development and Reform Commission.

Italian firms hail market outreach

China's decision to expand its domestic market is good news for Italian companies seeking to export their products to China, the Milan-based Italy China Foundation said in a statement. Referring to the ongoing China International Import Export in Shanghai, the statement said that the Italy China Foundation has partnered with the Milan-based Italy China Chamber of Commerce and the Italian Foreign Trade Association to bring 12 Italian exhibitors to the third edition of the CIIE. The companies are among some 70 Italian businesses present at the CIIE this year, one of the largest trade events across the world, according to the Italy China Foundation.

Kenyan tea gets Chinese rail boost

Kenya's tea buyers and packers said the use of the Chinese-built Standard Gauge Railway which runs from Nairobi to the coastal city of Mombasa has boosted direct tea sales. The Kenya Tea Development Agency said on Thursday that tea buyers and packers using the direct sales channel have embraced the use of the SGR which has enhanced logistical efficiency and savings. Alfred Njagi, managing director, KTDA management services, said ex-factory containerization continues to be an increasingly preferable option for big packers that have direct sales arrangements with factories.

Xinhua