China’s Commerce Ministry on Sunday slammed the Donald Trump-led US government’s plan to impose another 100% tariff on Chinese imports (up and above the existing levies), calling it a “classic case of ‘double standards’.” Amid rising trade tension between the two trade giants, Beijing restated its consistent stance and said it does not “want to fight, but are […]
Copper struck $11,000 per metric ton on Thursday, a milestone not seen for 16 months as investors piled into the metal after a series of disruptions to mine supply led to fears of shortages, while aluminium hit a more than three-year peak. Benchmark three-month copper on the London Metal Exchange rose 3.1% to hit the […]
Swiss medical technology company Ypsomed said on Friday it will establish its first manufacturing facility in the United States with an initial $200 million investment in the town of Holly Springs, North Carolina. Ypsomed, a maker of self-injection systems, said it plans to create about 100 new jobs and wants to roughly double that number […]
HSBC is shelling out £10bn to take its Hong Kong subsidiary private, in a move it said was designed to take advantage of the financial hub’s role as a “super-connector” between China and global markets. The deal will result in Hang Seng Bank’s shares being taken off the local stock exchange as London-headquartered HSBC doubles […]
Fifth Third Bancorp said Monday it will acquire fellow regional bank Comerica for $10.9 billion in an all-stock deal that will create one of the largest U.S. banks by assets. When the deal closes, it will create the ninth-largest U.S. bank — with roughly $288 billion in assets. The transaction is expected to finalize in […]
Spot gold smashed through US$4,000 (RM16,876) an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally. It’s a milestone for bullion, which traded below US$2,000 just two years ago, with returns that now outstrip those for equities this century. Gold has jumped […]
India’s Rana Group has begun construction of a $10 billion smart manufacturing hub in Ras Al Khaimah, marking one of the largest industrial investments in the UAE. The project will house 150 industries and is expected to generate $5 billion to $6 billion in annual turnover while creating 4,000 jobs. The Erisha Smart Manufacturing Hub, […]
Goldman Sachs raised on Monday (Oct 6) its December 2026 gold price forecast to US$4,900 (RM20,653) per ounce from US$4,300, citing strong Western exchange-traded fund (ETF) inflows and likely central bank buying. “We see the risks to our upgraded gold price forecast as still skewed to the upside on net, because private sector diversification into the relatively […]
The $90 million (R1.5 billion) deal marks another significant international exit from Africa’s most industrialized economy. The decision aligns with global trends favoring copper amid a worldwide surge in electrification. Jubilee noted that “strong copper markets support higher margins than chrome, and Zambia presents material opportunities to expand our copper-producing assets.” Under the deal, Jubilee will retain […]
The sovereign wealth funds of Gulf petrostates continue to be the top state investors globally despite weaker oil prices this year. The share of sovereign wealth fund investments from the Middle East and North Africa in the global total was 40% for the first nine months of the year, cementing the funds’ leadership. Data from […]