Saudi Arabia is slashing its crude oil exports to Asia in April, for a second month in a row, as the de facto closed Strait of Hormuz is stranding most of the supply from the world’s top crude exporter. Saudi oil giant Aramco has notified customers of term supply in Asia that they would receive […]
According to report, Tesla is in talks to purchase equipment worth about $2.9 billion from Chinese firms to build large-scale solar manufacturing capacity in the United States, as CEO Elon Musk targets up to 100 gigawatts of solar production. The development has already lifted shares of several Chinese solar companies, signalling renewed global demand for […]
Countries may tap into America’s booming liquefied natural gas exports as Middle Eastern suppliers shutter. But renewables are a safer bet in the long run. The U.S. is the world’s largest exporter of liquefied natural gas — and the war in the Middle East is about to bring massive profits to its gas producers. As the war […]
Any prolongation of the Iran war risks creating an unprecedented crisis in energy supplies that sooner or later will hit every corner of the global economy. But it is already clear that some countries are either more exposed to that impact or less able to deal with it. Here are some economies to watch. THE […]
The national debt surpassed a record $39 trillion on Wednesday, a milestone that comes just weeks into the U.S.-Israeli war in Iran. The unprecedented figure highlights competing administration priorities, from passing a massive tax law and boosting defense spending and immigration enforcement to chipping away at the debt itself — the latter of which Donald Trump promised to […]
South Korean Prime Minister Kim Min-seok met with U.S. President Donald Trump in Washington on Friday, Kim’s office said, after the National Assembly passed a special bill on its commitment to investing $350 billion in the United States. The two met briefly at the White House as the passage of the bill in Seoul on […]
In a statement, the department said the capital commitment by Rio Tinto’s subsidiary Richards Bay Minerals (RBM) reflects growing cooperation between industry, government and host communities. RBM, which is 74 per cent owned by Rio Tinto, mines mineral-rich coastal sands in KwaZulu-Natal. The operation produces zircon, rutile and ilmenite, key feedstocks used to make titanium […]
China said on Thursday that it would inject 300 billion yuan (US$44 billion) into state-owned banks this year to guard against systemic risks, and boost financing for technology companies amid intensifying US rivalry. The measures were outlined in the annual government work report released at the opening session of the National People’s Congress (NPC), China’s rubber-stamp parliament. […]
The Washington-based lender also approved a new Resilience and Sustainability Facility valued at roughly $124.3 million, which will run through September 2027 and focus heavily on climate adaptation and agricultural stability. The latest payout follows the Fund’s review of the 48-month ECF arrangement first approved in September 2023. IMF officials said the economy has shown […]
Deutsche Bank’s headquarters in Frankfurt and its office in Berlin were searched by German prosecutors and police on Wednesday in an investigation over suspected money laundering offenses, officials said. According to the Sueddeutsche Zeitung daily, the probe is connected to suspected offences in the bank’s dealings with companies linked to Russian billionaire businessman Roman Abramovich. […]