Indonesia and China have launched cross-border QR interoperability, marking a significant milestone in deepening financial cooperation and accelerating digital payment integration between the two countries. The initiative, introduced by Bank Indonesia on Thursday, enables users from both countries to conduct retail payments seamlessly by scanning QR codes across borders. The system is expected to support […]
The “sell in May and go away” strategy does not appear to be working in Seoul this year, as the benchmark Kospi continues its record-setting rally, breaking above 6,900 points on Monday to near the 7,000 milestone, led by a more than 10 percent surge in chip giant SK hynix. “Sell in May and go […]
Brent oil prices rose as much as 7% on Thursday on a report that the US is considering potential military action against Iran to break the deadlock in negotiations to end the war, increasing concerns of more supply disruptions to already curtailed Middle East exports. Brent crude futures for June rose US$6.81, or 5.8%, to US$124.84 a barrel as of […]
Oil prices continued to climb in early Asian trade on Thursday, with traders pricing in a prolonged disruption to Middle East supply flows as inventories continue to shrink. Brent crude for July delivery climbed to $113.09, up 2.65%, while West Texas Intermediate rose 2.28% to trade at $109.30. Notably, the expiring front-month Brent contract was trading at over […]
Profits at China’s industrial firms grew at their fastest pace in six months in March, even as the Middle East war upended global oil markets and sent raw material costs soaring. Industrial profits jumped 15.8% from a year earlier in March, the sharpest growth since September last year, National Bureau of Statistics data showed Monday, quickening from […]
Shell is doubling down on North American gas in a major bet on long-term LNG demand, agreeing to buy Canada’s ARC Resources in a $16.4-billion deal that will add roughly 370,000 barrels of oil equivalent per day to production and strengthen the supermajor’s position in one of the continent’s most strategic gas corridors. The acquisition gives Shell […]
Oil prices have climbed higher amid stalled peace talks between the United States and Iran. Brent crude rose more than 2 percent on Sunday after hopes for a second round of ceasefire negotiations between Washington and Tehran unravelled over the weekend. After easing slightly, Brent, the primary benchmark for global prices, stood at $106.99 as of 1:30 GMT. Stock markets in Asia shrugged […]
Phillips 66 has shipped crude oil from Texas to the U.S. East Coast on a foreign-flagged tanker, the first such cargo since Washington waived the Jones Act last month, Kpler ship-tracking data shows. The Bakken crude was loaded in early April at a Phillips 66 terminal in Beaumont, Texas, onto the Malta-flagged Htm Warrior. The […]
Data from the Central Bank of Nigeria showed that exports totalled 31.31 million barrels in January and 24.08 million barrels in February. Average daily production stood at 1.46 million barrels in January and 1.31 million barrels in February, while export levels averaged 1.01 million barrels per day and 0.86 million barrels per day, respectively. Overall […]
Gautam Adani has overtaken Mukesh Ambani to become Asia’s richest person, according to the latest data from the Bloomberg Billionaires Index. As per the rankings released on Friday, Gautam Adani, founder and chairman of the Adani Group, now ranks 19th globally with a net worth of $92.6 billion. In comparison, Mukesh Ambani, chairman of Reliance […]