President Donald Trump’s administration plans to launch next Monday the system it will use for issuing refunds to American importers for US$166 billion (HK$1.3 trillion) the companies paid in tariffs that the US Supreme Court struck down in February as unlawful. US Customs and Border Protection said in a court filing on Tuesday that it […]
Japan has pledged to provide $10bn (£7.4bn) to help its Asian neighbours, especially those in South East Asia, secure energy including crude oil as the region reels from disruptions caused by the Iran war. Japanese Prime Minister Sanae Takaichi announced the new cooperation framework on Wednesday after an online meeting with other Asian leaders. Japan […]
World shares gained on Wednesday, edging towards record highs after President Donald Trump said talks with Iran could resume over the next two days, with hopes for an end to the Iran war keeping oil prices below US$100 a barrel. The MSCI All-Country World Index rose 0.1%, within sight of its all-time top and on […]
The facility, arranged through the World Bank’s private-sector arm, the International Finance Corporation (IFC), will allow the institution to lend more in South African rand rather than in foreign currencies like the U.S. dollar. This is critical in emerging markets, where companies often earn revenue in local currency but are forced to borrow in dollars, exposing […]
South Korea has secured 273 million barrels of Middle Eastern and Kazakh crude that will not need to transit the Strait of Hormuz—volumes that would sustain its economy for more than three months. “The 273 million barrels of crude oil, based on last year’s consumption levels, are sufficient to sustain the economy for more than […]
Brent crude prices will remain above $90 per barrel through the end of this year as the war continues to cut off supply from the Middle East, analysts at Australia-based bank ANZ said on Tuesday. The bank raised its 2026 estimate from previous expectations of Brent averaging closer to $80 per barrel, amid mounting supply […]
TotalEnergies has found oil and gas on a license which it has been developing offshore the Republic of Congo, the French supermajor said on Monday. TotalEnergies EP Congo, which operates the Moho license with a 63.5% stake, has made the hydrocarbon discovery after drilling the MHNM-6 NFW exploration well targeting the Moho G structure. The drilling campaign […]
Oil prices have fallen back after briefly rising to above $100 a barrel as Donald Trump claimed Iran had made contact and wanted “very badly” to strike a deal in the face of his blockade of the strait of Hormuz. The Brent crude international benchmark rose above the key psychological threshold earlier in the day, […]
The UAE and China have signed 24 agreements to expand trade, investment and sector collaboration, marking a further step in strengthening economic ties between the two countries. The agreements were announced during the UAE-China Business Promotion Conference held in Beijing, alongside the official visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince […]
The uptick marks a rebound from January’s slowdown and reflects a sustained push toward reserve diversification. Global gold demand from central banks remains highly concentrated among a small group of consistent buyers rather than being evenly spread across the global financial system. Although more than 60 central banks have added gold in recent years, the bulk […]