With three weeks left until the tax break expires, the government has yet to indicate whether it will extend the incentive. Consumers bought 21.1 million passenger vehicles in the first 11 months, more than the 20.6 million units for the whole of last year, according to the China Passenger Car Association. Source: Bloomberg
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Iraq backed a proposal from Saudi Arabia and Russia to extend output cuts for nine months, removing one of the last remaining obstacles to an agreement at the OPEC meeting in Vienna this week. Source Bloomberg
Russia is in talks with European countries to determine the entry point of the second line of the Turkish Stream gas pipeline flow, Russian Prime Minister Dmitry Medvedev told journalists. Source Tass
Marine Le Pen is to ditch plans to pull France out of the European Union and to stop using the euro and restore the franc. There will be no Frexit,” Bernard Monot said in an interview with a British newspaper, explaining that the Front National (FN) leader had realised that this was not what the French people want. Source The Local