For over five years, Pan African Resources, a South African gold mining company, has partnered with the Australian firm Emmerson Resources. In a recent development, Pan African Resources has begun the process of acquiring Emmerson Resources in its entirety. The deal is valued at approximately R80 billion and aims to strengthen Pan African Resources’ control […]
A global finance watchdog is demanding national regulators better scrutinize private credit, warning that banks, asset managers, insurance and private equity firms are exposed to an assortment of growing risks in the near $2 trillion sector. In a wide-ranging study published Wednesday, the Financial Stability Board said the industry’s lack of standardized, transparent data, along […]
OPEC’s second-largest producer, Iraq, is offering huge discounts of up to $33.40 per barrel off the official selling prices for its crude that has to move through the Strait of Hormuz. Iraq’s oil production and exports have been severely crippled due to the hostilities in the Middle East and the de facto closure of the Strait of […]
OCBC Bank has struck a deal to acquire parts of HSBC’s wealth and premier banking portfolio in Indonesia, adding over 300,000 customers to its Indonesian subsidiary and potentially opening doors for Singapore-based staff seeking overseas exposure. This marks the first major acquisition under OCBC’s new group chief executive, Mr Tan Teck Long, as the bank expands […]
Indonesia and China have launched cross-border QR interoperability, marking a significant milestone in deepening financial cooperation and accelerating digital payment integration between the two countries. The initiative, introduced by Bank Indonesia on Thursday, enables users from both countries to conduct retail payments seamlessly by scanning QR codes across borders. The system is expected to support […]
The “sell in May and go away” strategy does not appear to be working in Seoul this year, as the benchmark Kospi continues its record-setting rally, breaking above 6,900 points on Monday to near the 7,000 milestone, led by a more than 10 percent surge in chip giant SK hynix. “Sell in May and go […]
Brent oil prices rose as much as 7% on Thursday on a report that the US is considering potential military action against Iran to break the deadlock in negotiations to end the war, increasing concerns of more supply disruptions to already curtailed Middle East exports. Brent crude futures for June rose US$6.81, or 5.8%, to US$124.84 a barrel as of […]
Oil prices continued to climb in early Asian trade on Thursday, with traders pricing in a prolonged disruption to Middle East supply flows as inventories continue to shrink. Brent crude for July delivery climbed to $113.09, up 2.65%, while West Texas Intermediate rose 2.28% to trade at $109.30. Notably, the expiring front-month Brent contract was trading at over […]
Profits at China’s industrial firms grew at their fastest pace in six months in March, even as the Middle East war upended global oil markets and sent raw material costs soaring. Industrial profits jumped 15.8% from a year earlier in March, the sharpest growth since September last year, National Bureau of Statistics data showed Monday, quickening from […]
Shell is doubling down on North American gas in a major bet on long-term LNG demand, agreeing to buy Canada’s ARC Resources in a $16.4-billion deal that will add roughly 370,000 barrels of oil equivalent per day to production and strengthen the supermajor’s position in one of the continent’s most strategic gas corridors. The acquisition gives Shell […]