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 […]
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 […]
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 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 […]
The signing ceremony took place during a dinner honoring President Prabowo, organized by the US Chamber of Commerce. Key points of the agreement include food security and agricultural products. Indonesia agreed to purchase massive quantities of US agricultural goods, including 1 million metric tons of soybeans (valued at $685 million), 1.6 million metric tons of […]
The British government has decided to withdraw its $1.15 billion backing for the TotalEnergies-led Mozambique Liquefied Natural Gas project, it said on Monday. Britain had promised financial support for the $20 billion project via UK Export Finance in 2020, shortly before it pledged to stop providing direct government support for overseas fossil fuel projects. The […]
Trump administration orders to keep an ageing, unneeded Michigan coal-fired power plant online has cost ratepayers from across the US midwest about $113m so far, according to estimates from the plant’s operator and regulators. Still, the US energy department last week ordered the plant to remain open for another 90 days. The Trump administration in […]
U.S.-based cloud services provider GMI Cloud said on Monday it will build a $500 million artificial intelligence data centre in Taiwan with the support of U.S. chipmaker. The data centre will come online by March 2026 and will run on Nvidia’s new Blackwell GB300 chips. The facility will house about 7,000 GPUs across 96 high-density […]
The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as Opec+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday. “Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil […]
Hanwha Ocean, which was caught in the crossfire during the U.S.-China trade conflict, has gained temporary breathing room. As China reached partial agreements with the United States in economic and trade negotiations, it decided to suspend sanctions imposed on Hanwha Ocean’s U.S. subsidiaries for one year. Accordingly, Hanwha Ocean will minimize repercussions in raw materials […]