Korean stocks tumbled over 3 percent Friday, dragged down by a possible tariff war threat by U.S. President Donald Trump and a slump in artificial intelligence (AI) chip giant Nvidia. The local currency fell sharply to a three-week low against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 88.97 points, or […]
Mexico’s state oil giant, Pemex, has reported a staggering 190.5 billion-peso ($9.1 billion) loss for Q4 2024, marking a sharp reversal from its profit a year ago. The company attributes this financial bloodbath to soaring operational costs, asset devaluations, and currency exchange losses—painting an increasingly grim picture for the world’s most indebted oil company. Crude […]
Meg Energy Corp. says it earned $106 million in its fourth quarter, up from $103 million a year earlier. The Calgary-based company says revenues totalled $1.15 billion, down from $1.44 billion during the same quarter last year. Diluted earnings per share were 40 cents, up from 37 cents a year earlier. Bitumen production averaged about […]
Eni SpA (NYSE: E) on Thursday reported a 46% plunge in its adjusted net profit for the fourth quarter of 2024, missing analyst forecasts as lower oil and gas prices and refining margins more than offset higher upstream production. Eni booked an adjusted net profit of $935 million (892 million euros) for the fourth quarter, below the […]
Arab stock markets recorded a positive performance in January for the second consecutive month, mirroring the upward trajectory of global exchanges. According to the latest Arab Monetary Fund report, the gains came after markets worldwide rebounded from the declines observed in December, driven by improving investor sentiment, monetary policy adjustments, and strong corporate earnings in […]
Canadian lender TD Bank appointed Guidepost Solutions as the compliance monitor for its anti-money laundering program after U.S. regulators hit the lender with $3 billion in penalties last year. Guidepost Solutions will monitor TD’s business in the United States as part of a multi-year program to fix TD’s anti-money laundering problems and strengthen its controls. […]
Chinese IT services company Unisplendour is planning to raise US$1 billion from a stock listing in Hong Kong this year, according to a source familiar with the matter. The company joins a growing number of mainland-listed companies making their way to Hong Kong to raise funds amid improved stock market sentiment and regulatory support. The […]
Russian President Vladimir Putin said he is open to offering the US access to rare minerals, including from Russian-occupied Ukraine. This comes after US President Donald Trump has repeatedly pushed for Ukraine to give up some of its minerals in exchange for support, in a deal which is currently being finalised, according to a Ukrainian minister. […]
Korean and Japanese venture investment institutions are creating a global fund amounting to 29 billion won to invest in startups in both countries. The government expects that the global fund will play a significant role in investing in Korean and Japanese startups and facilitating exchanges between the venture investment ecosystems of both countries. On the […]
Hyundai Rotem has secured a 2.2 trillion won ($1.4 billion) contract to supply advanced trains to Morocco, the company said Wednesday. Under the deal, Hyundai Rotem, the train manufacturing subsidiary of Hyundai Motor Group, will supply double-decker electric trains to ONCF, Morocco’s national railway operator, marking its first entry into the Moroccan market. The contract […]