Afternoon Coffee: China Inks Export Deal with the US, Zycus Adds an Office in Dubai

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The Chinese and the U.S. governments formalized a trade deal Thursday that would allow U.S. beef and natural gas to flow into China, CNN reports. In exchange, China will be able to export cooked poultry to the U.S., and Chinese banks will gain broader access to the U.S. financial market.

Zycus Expands Middle East Presence 

Source-to-pay provider Zycus is adding a new office in Dubai in an effort to bolster its presence in the Middle East, according to a press release.

“We are excited to expand our presence in the Middle East, which is one of the fastest growing economic regions in the world, said Dixit Jasani, Vice President of Sales and Global Business Development. “Our entry into Dubai marks a continued focus on providing best-in-class procurement automation solutions to innovative leading corporations worldwide.”

German Economy Picks Up 

The German economy grew by 0.6% in the first quarter compared with the previous quarter, Reuters reports, in a sign that increased political tensions have not slowed business there. Analysts told Reuters the upswing seems to be based on a “solid foundation” of enterprise investment, continued consumer and state spending, and rising exports.

Jobless Claims 

And finally, a Friday employment update: Initial jobless claims in the U.S. decreased to 236,000 in the week ended May 6, the lowest level since November 1988, according to the Wall Street Journal.

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