Business

Asian shares steadied on Monday as investors caught their breath following another week of escalating U.S.-China trade tensions, with sentiment turning brighter after the United States said it would lift tariffs in North America.

Saudi Energy Minister Khalid al-Falih said on Sunday there was consensus among OPEC and allied oil producers to drive down crude inventories "gently" but his country would remain responsive to the needs of what he called a fragile market.

U.S. Trade Representative Robert Lighthizer will visit Japan on May 24 to meet with Economy Minister Toshimitsu Motegi to accelerate trade talks ahead of a summit meeting scheduled a few days later, two sources with direct knowledge of the plan said on Monday.

China's senior diplomat Wang Yi told U.S. Secretary of State Mike Pompeo on Saturday that recent U.S. words and actions had harmed the interests of China and its enterprises, and that Washington should show restraint, China's foreign ministry said.

Iran has adopted new tactics and new destinations in shipping its oil exports following the re-imposition of U.S. sanctions, a senior Iranian maritime official was quoted as saying on Saturday by the semi-official ILNA news agency.

Boeing Co has won a hard-fought contest to sell wide-body aircraft to Air New Zealand Ltd, beating a challenge from Europe’s Airbus, industry sources said on Monday.