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 […]
Japan will run a US$550 billion (RM2.32 trillion) US-bound investment package agreed in Tokyo’s tariff deal with Washington without any impact on the foreign exchange (forex) market, its top trade negotiator Ryosei Akazawa said on Wednesday. “Based on our calculation, US$550 billion is within the range where there will be no forex impact,” Akazawa said, speaking to reporters at […]
Australia’s Seven West Media said it would merge with Southern Cross Media to create a A$417 million (US$273.97 million or RM1.16 billion) metropolitan and regional media group to better compete with global streaming platforms. Seven West shares, controlled by mining and media billionaire Kerry Stokes, were up 7% on Tuesday to A$0.15, while Southern Cross stock was 6.6% […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed off on a Sales Purchase Agreement (SPA) by TotalEnergies Exploration and Production Nigeria Limited to assign its entire 12.5% contractor interest in Oil Mining Lease (OML) 118 to Shell Nigeria Exploration and Production Company (SNEPco) and Nigerian AgipExploration Limited (NAE). According to the details of the […]
Italian energy company Eni said on Monday it struck a more than $1 billion power purchase with Commonwealth Fusion System’s project in Virginia that the companies hope by the early 2030s will generate electricity through the reaction that fires the sun. Eni agreed to buy power from the 400-megawatt (MW) ARC project in Chesterfield County, […]
The reforms are part of a wider shift that began under the government’s Operation Vulindlela programme launched in 2020, which aimed to reduce red tape, unlock investment, and allow greater private-sector participation in key sectors. Since 2023, Pretoria has accelerated efforts, particularly in transport and logistics, where inefficiencies in rail and ports have long hampered mineral exports. […]
On Sunday, a key congressional committee in the United States approved President Donald Trump’s new tax cut bill, which could pass in the House of Representatives later this week. The bill extends Trump’s 2017 tax cuts and may add up to $5 trillion to the national debt, deepening worries after a recent US credit ratings […]