Asia

On August 2, seven members of OPEC+ will meet. Sources say that the group will increase its output quotas for September by 188,000 bpd. Source: OPEC+ requires the result of the oil capacity review to decide on 2027 quotas By Alex Lawler and Ahmad Ghaddar LONDON, 28 July - OPEC+ will likely pause its 'gradual oil production hikes' after September, for?the rest of the year, according to four sources, because it needs to hold additional discussions before deciding on its output quotas in 2027. The pause will mark the end of several month of production hikes that were mostly on...

These are the top stories from?the Wall Street Journal. These stories have not been?verified and we cannot vouch for their accuracy. Johnson & Johnson, a manufacturer of babycare products, has agreed to pay $5.5 Billion to settle outstanding lawsuits alleging that the company's Talc products cause ovarian cancer. The agreement is conditional on 95% participation by the remaining claimants. Iran and Oman have worked to achieve an agreement for the safe passage of ships through the Strait of Hormuz amid a lull between fighting between the U.S. -Kuwait Petroleum signed a $16billion pipeline lease agreement with Kuwait Oil, involving the...

This week, it's all central banks. Rising energy prices are likely to keep rate-setters in Tokyo, Washington and London alert even if oil is below $100. Tariffs from the United States are now back on the list of worries for markets that worry about inflation and growth risks due to war. Rae Wee, Dhara Ranasinghe and Alun John are in London. Lewis Krauskopf is in New York. 1/ DOUBLE THREAT Investors are now watching two chokepoints for energy shipping to see how much oil and natural gas comes out of the Middle East. Houthi attacks may make the Bab el-Mandeb...

You wouldn't guess it by the price of aluminium. Two damaged Gulf smelters, and the resulting?logistical constraints at other smelters have already created a 2 million metric ton gap in the global supply chains. After surging to a 4-year high of $3,787.50 per tonne in early June, London Metal Exchange's (LME) 3-month aluminium now trades around $3,170 a tonne, exactly where it traded before the United States launched its "Operation?Fury", a joint strike with Israel against Iran, on February 28. Where did the war premium end up? Is the market right in being so'relaxed' about?the unprecedented shortage of a metal...

Next week, it's all central banks. Interest rate-setters in Tokyo, Washington and London are growing more nervous due to the Middle East war escalate. Oil prices have returned to $100. Tariffs from the United States are now back on the list of worries for markets that worry about inflation and growth risks due to war. Rae Wee, Dhara Ranasinghe and Samuel "Indyk" and Alun John are in London. Lewis Krauskopf is in New York. DOUBLE TROUBLE Investors are now watching two chokepoints for energy shipping to see how much oil and natural gas comes out of the Middle East. Houthi...

The head of finance for Indian state refiner Bharat Petroleum Corp stated 'on Thursday that traders have stopped offering discounts to Russian crude sold to India due to disruptions in Middle -Eastern supply, which has boosted the demand for alternative grades. As Middle East oil supplies have been disrupted, refiners in India have increased their purchases of Russian crude oil. Vetsa Ramakrishna said that BPCL had secured crude supplies through August, and was looking for cargoes for September delivery. He said the company has received offers from traders for Russian oil cargoes to be delivered in September. He added, "But...

Authorities said on Thursday that two people, including a three-year-old boy, were 'killed in separate overnight Ukrainian attacks against a city in southern Russia and the peninsula of Crimea under Russian control. Crimean Governor Sergei Aksyonov stated that a person was killed on the peninsula, and four others were injured. Two of those injuries were children. Alexander Gusev, regional governor, said that falling drone debris caused a fire to start at the home of a 3-year-old boy in Voronezh. Voronezh is located about 500 km (310 miles), south of Moscow. The child died as a result of the fire. The...

Kyrgyzstan agreed to build a mini-oil refinery worth $25 million in the south of the nation as part of its efforts to increase domestic fuel production and reduce dependence on imports due to tightening Russian supplies. Central Asian Energy LLC of Kyrgyzstan, who will finance the project, recently signed an agreement with the Kyrgyz company to build the refinery. The plant will produce bitumen, motor oil and gasoline that meets?K5 or K6 environmental standards. The first phase of the construction should be completed by autumn 2026. Kyrgyzstan imports a majority of its gasoline from Russia. Fuel shortages in Russia have...

A dark cloud of Middle East conflict is once more looming above the financial markets. Geopolitical risks are back on the radar of investors, despite the fact that 'the shock of initial U.S. - Israeli strikes on Iran will not be repeated, barring a shocking twist such as a U.S. invasion on ground. The relief from falling oil and inflation pressures that followed the US-Iran truce struck in April has now evaporated. Investors, however flimsy the ceasefire may have been, took it as an opportunity to re-position themselves for economic growth and to re-expose to risk. Washington and Tehran have...

Russian officials reported that Ukraine had targeted Moscow and its surrounding area?with 400 drones over night, injuring 10 people, and setting buildings on fire, according to Russian officials. In a statement on Telegram, the?Governor of Moscow region Andrei Vorobyov?said?that seven people including three Chinese citizens had been injured in a drone strike on Domodedovo near one of Moscow's major airports. Yevgeniya Krustaleva, the mayor of Domodedovo said on Telegram in a message that "a fire broke out at an industrial park local and that also a residential building was struck." Volodymyr Zelenskiy, the Ukrainian president, said that Kyiv has struck...

As renewed hostilities between?U.S. Iran and the United States have further?disrupted energy flows across the?Strait?of Hormuz. This is a vital route for global oil supply. Since the U.S. and Israel launched their attack on Iran at the beginning of February, the national average retail gas prices have increased by more than 30%. According to AAA data, the average pump price for Monday was $4.0030 per gallon. Last time the $4 mark was reached, it was in late March, when Iran stopped traffic through the Strait. In June, prices fell below this threshold after the U.S. signed an agreement with Iran...

Indian?shares fell on Monday. The decline was largely due to the?HDFC Bank reducing its quarterly net interest margins. By 10:04 a.m. IST, the?benchmark Nifty 50 index fell 0.60%, to 24,187.25. The BSE Sensex dropped 0.76%, to 77566.17. HDFC Bank fell 5%, its steepest intraday drop in four months, after in-line June-quarter profit was overshadowed by a sharper-than-expected net interest margin decline. HDFC Bank's?drop was greater than Reliance Industries' 0.3% increase and ICICI Bank?s 0.6% gain after their results. Reliance surpassed profit expectations on the strength of oil-to chemicals and telecom?verticals. This was announced after market hours on Friday. ICICI Bank...

Data released on Tuesday showed that 'India's industrial production growth increased to 7.3% in the month of June. This was due to a strong manufacturing sector, boosted by government spending and an expansion in electricity generation. The economists polled expected the industrial output to grow to?5.7% from a revised 5.0%?a month before. In May, government began using producer prices instead of wholesale prices to calculate factory output. KEY NUMBERS * Electricity production increased 10.6% on an annual basis in June, compared to a revised 10.3% increase a month before. The mining activity increased 1% year-on-year from a revised fall of...

Ambuja Cements, a cement manufacturer in India, reported a 37% drop in its quarterly 'profit' on Tuesday. It was the first time in three quarters that it had seen a decline. The company said that rising fuel prices and a weak monsoon season could put further pressure on profitability. In the second quarter, monsoon related?disruptions?are expected. Meanwhile, higher petcoke costs and freight prices continue to squeeze margins on a market where competition is fierce and producers are unable to increase their prices. The company stated that "the impact of peak fuel cost inflation will coincide with the seasonal weaker Q2,...

The major Gulf stock markets fell in early trading on Tuesday as investors awaited U.S. Federal Reserve policy decisions and developments in the Iran Conflict, although ongoing corporate earnings provided some support. The majority of Gulf?Cooperation Council nations,?including?UAE?, have their currencies pegged against the U.S. Dollar and closely follow the Fed?s policy, exposing them to the direct effect of monetary tightening on the world?s largest economy. The Fed ends its two-day session on Wednesday. CME FedWatch?shows that 62% of policymakers are likely to keep rates the same, and 38% are expecting a minimum 25-basis point increase. This is up from...

The copper price fell on Tuesday as investors assessed a possible pause in the 'U.S. Strikes?on Iran. By 0700 GMT, the benchmark three-month price of copper at the London Metal Exchange had fallen by 0.4% to $13,678 per metric tonne. The Shanghai Futures Exchange's most traded copper contract fell 0.13% to 104,810 Yuan ($15.487.03) per ton. The market awaits the outcome of the U.S. Federal Reserve's meeting on Wednesday and weighs the impact that a reduction in oil prices will have after the lull between U.S.-Iran fighting. Analysts from Chinese broker Galaxy Futures stated that "as tensions between the United...

South Korean shares fell nearly 11% in their 'worst session for about five months' on Tuesday, as a global chipmaker selloff?hammered SK Hynix, Samsung Electronics and CXMT, while CXMT’s stellar debut in the market heightened concerns about Chinese competition. The benchmark KOSPI fell 732.09 or 10.84% to 6,023.66, its largest daily loss since the 4th of March, when the index experienced a record drop following the outbreak of the Iran War. The price fell by as much as 11.3% in one day and triggered a circuit breaker, the 14th time in history. The price also fell below 6,000 for the...

The copper prices fell on Tuesday as 'lingering bets on an interest rate increase in the U.S. threatened to dampen demand. Crude oil prices also declined as investors assessed a pause in U.S. attacks on 'Iran. By 0300 GMT, the benchmark three-month metric ton of?copper traded on London Metal Exchange had fallen 0.5% to $13,664 per metric tonne. The Shanghai Futures Exchange's most traded copper contract fell 0.14% to 104,800 Yuan ($15.484.86) per ton. The market is waiting for the U.S. Federal Reserve's meeting on Wednesday and the effect of a possible lull in the fighting between Iran and the...

South Korean shares fell 'on Tuesday, as a global sale of chipmakers weighed down on technology heavyweights. Pressured 'by concerns about a 'intensifying competitive environment - from China - and a steep drop in SK Hynix shares listed in the U.S. The benchmark KOSPI fell 500.47 points or 7.41% to 6,253.81, prompting "sidecar" trading restrictions on both the KOSPI index and junior Kosdaq, temporarily suspending programme trading. Memory-chip manufacturer SK Hynix fell 10% after 'its American Depositary Receipts (ADRs), which were issued in the United States, dropped to a new record low and below their original U.S. offering prices. Samsung...

Indonesia's Presidential?staff Office has called for a?cooperation among government agencies, law-enforcement officials and the?industry? to resolve a regulatory void that has reportedly delayed exports of nickel and alumina products due to their rare-earth contents. Indonesia is one of the world's largest exporters of minerals, but it produces rare earths only as a minor by-product. No rules have been established yet to govern how much of these elements can be added to shipments of other mineral. Officials stated that exporters faced delays in their shipments on Monday due to the lack of clear regulations. Dudung Abdurachman, the Chief of Staff to...

Data?from Hong Kong’s Census and Statistics Department revealed?on a Monday that China’s net gold imports through Hong 'Kong had more than doubled in the past year, but dropped over 5% compared to last month. Data showed that the?world's largest gold consumer imported 50.679 tons of gold through Hong Kong via Hong Kong, compared to 53.674 tons from May and 19 366 tons by June 2025. Hong Kong data may not be a complete view of Chinese gold purchases because it is also imported via Shanghai and Beijing. China's total imports of gold via Hong Kong reached 78.147 tonnes in June,...

Prices of copper rose on Monday as oil prices dropped after the U.S. & Iran suspended their 'hostilities', alleviating concerns over price pressures and global growth. Benchmark 'copper' on the London Metal Exchange rose 0.32% to $13,688.5 per metric ton by 0700 GMT. The Pentagon suspended its campaign against Iran on Friday after 13 nights of increasing airstrikes by the United States. Iran has been holding a 'fire' for two days after it had responded to each night’s U.S. airstrikes with its own attacks on countries in the region that house U.S. bases. The oil prices fell as the ceasefire...

Iron ore prices fell on Monday as a result of a seasonal decline in demand for the commodity and shrinking steel margins. This was despite hopes that Beijing would announce stimulus measures later this week to boost the economy. The daytime trading price of the most traded iron ore contract at China's Dalian Commodity Exchange was 741 yuan (109.50 dollars) per metric ton. As of 0800 GMT, the benchmark August iron ore price on Singapore Exchange was $97.6 per ton - a 0.56% decrease. After steel demand slowed down and margins shrank sharply, several Chinese steelmakers started equipment maintenance. The...

Two bankers familiar with the matter said on Monday that India's UltraTech Cement was in discussions?with merchant banks and arrangers about raising?its largest rupee bond funding. It is looking to tap the debt markets before the central bank makes its policy decision next Thursday. Sources who requested anonymity because the talks were still private said that the country's biggest cement producer by production capacity planned to raise 50 billion rupees (517.80 million dollars) in bonds with maturities of two-and a half years, three and a half years, and five years. The target is?15 billion each for the two shorter tranches,...