Asia

Federal Reserve quarterly "dot-plot" rate forecasts could soon lose the last projected rate reduction, the so called easing dot. The plot itself may disappear altogether. Markets would then have to determine if Kevin Warsh was really the inflation-hawk he claimed to be. It might still be a surprise to some investors if he's right. Before his first policy meeting, the new Fed chairman is busy setting up his stall. He consults his staff and gets ready for his first policy session. The guidance he receives on policy direction is not going to be easy. The three-month-long war in Iran and...

?U.S. Donald Trump admitted to calling Israeli Prime Minister Benjamin Netanyahu crazy during an angry phone call over the fighting in Lebanon while the U.S. was trying to negotiate a ceasefire with Iran. In an interview aired Wednesday, Trump, paraphrasing Axios, was asked if he called the long-time Israeli leader, "effing insane" and accused him ingratitude. Trump said, "I did," in a podcast called "Pod Force One". "I wouldn’t say angry. "I was a bit upset at his constant fighting with Lebanon." Trump continued to say that he and Netanyahu get on very well. Axios reported, citing an unidentified U.S....

A business survey released on Wednesday showed that the UAE's private non-oil sector grew only modestly in May, as the war in the area weighed on the output and growth of new businesses. The S&P Global UAE Purchasing Managers' Index, adjusted for season, rose from 52.1 to 52.6 in the month of May. This index is still above 50 which separates growth from contraction. The continued disruption of maritime trade in the UAE had a cascading effect on the economy during May. Export orders fell in May due to both the shipping disruption and the uncertainty about how long the...

A survey on Wednesday showed that the non-oil sector in Saudi Arabia expanded at its fastest pace in three month in May as domestic demand improved. Supply chains also stabilised. However, business optimism was still'subdued' due to conflict in the region. S&P Global's seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index rose from 51.5 to 52.8 in the month of May. The 50-mark?distinguishes growth from contraction. The output accelerated the most in three months after the March downturn that followed the start of the Iran War.?Firms cited normalising work conditions, renewed contracts, and stronger local demand. The subindex of...

Cambodia has been relying on the little-used UN arbitration procedure known as "compulsory reconciliation" to settle a long-running maritime border dispute with Thailand. It is hoping that this will resolve the dispute and allow it to unlock potential oil and natural gas resources worth billions of dollars. What is the CAMBODIA - Thailand dispute about? Since more than 25 years, Cambodia and Thailand both claim about 26,000 square kilometers of?sea? in the Gulf of Thailand. It is estimated that the disputed maritime belt contains nearly 12 trillion cubic foot of natural gas, and large quantities oil worth about $300 billion....

Local authorities reported on Tuesday that the Ilsky oil refinery, located in southern Krasnodar, caught fire overnight after an Ukrainian drone attack. This is part of Kyiv’s campaign to starve Russia’s economy of its oil revenues. Kyiv has targeted Russia's energy grid in a systematic effort to limit Moscow’s ability to fund its four-year-old war in Ukraine, at a time when global oil prices are high. The Ukrainian General Staff confirmed that it has'struck again' the Ilsky refinery, stating that?the facility produces fuel for the Russian Army fighting in Ukraine. There was no immediate word on whether the refinery, which...

India's leading?carmakers have reported increased sales in May. Maruti Suzuki, the market leader, said that bookings for its compressed -natural -gas vehicles had risen by 40% as fuel prices rose because of the energy shock caused by the Iran War. India increased petrol and diesel prices four times in May to offset losses due to soaring crude oil costs related to the Iran conflict. This added to the automakers' woes, as they are also dealing with higher raw materials costs, supply chain disruptions, and labour issues. All automakers reported increased domestic sales on Monday. Mahindra &?Mahindra, a maker of SUVs,...

The Russian President Vladimir Putin will host his fifth conference on wartime economics in St. Petersburg. His government is struggling to find a growth strategy, as the?Ukrainian attacks on the economy are hitting the economy. Businesses also see no end to this war. The $3 trillion economy of Russia, which is heavily dependent on commodities, shrank to 0.2% growth in the first quarter 2026 from 4.9% in 2024. Officials blamed high interest rates, Western sanctions and a strong ruble. The growth rate is expected to be a modest 0.4% in 2018. The Ukrainian drone attacks on Russian refineries, fertiliser factories...

Early trading on Monday saw oil prices rise by more than 2 percent after Israel ordered troops to advance further into Lebanon, in the midst of a battle against Hezbollah, an Iranian-backed militant group. This was despite a ceasefire that had been announced more than six weeks earlier. U.S. crude?futures?rose by $2.37, or 2.71%, to $89.73 per barrel as of 0028 GMT. Brent futures increased $2.16, or 2.37%, to $93.28 per barrel. This increased fighting came just days after the U.S. held Israeli-Lebanon talks in Washington, and dimmed expectations of a U.S.-Iran ceasefire agreement extension. Brent and WTI had both...

Authorities in the southern regions Rostov-Krasnodar reported that Ukrainian drones had struck a tanker overnight at Taganrog, a Russian port. They also reportedly hit an oil depot?in?Armavir. Yury Slyusar, Governor of the Rostov Region, said via Telegram that the fires in Taganrog's port and on the tanker had been put out. No oil spillage was reported. He said that two people were injured. Svetlana kambulova, the mayor of the?city, announced that a local emergency state, which was introduced on May 27th, had been prolonged. The Russian Defence Ministry announced that its forces?had?downed 127 drones over night. Authorities in Armavir in...

The Indian Supreme Court granted relief to Reliance Industries Ltd on Friday in a securities?fraud?case, overturning both a lower court decision and a 2020 order by the markets regulator that claimed the 'firm' engaged in manipulative trading. According to the order, the court ordered the Securities and Exchange Board of India to refund the 2.5 billion rupees (26.32 millions dollars) that it collected from Mukesh Ambani's company while the appeal was pending. RIL and SEBI didn't immediately respond to requests for comment. Requests for comment from RIL and SEBI were not immediately responded to. The case is about RIL's decision...

Data analysis revealed on Friday that the production of diesel in Russia dropped?by about 10% in 'May. This was on top of a %10% monthly drop in April, as Ukrainian drones attacked refineries, forcing them to cut back or stop their output. Kyiv is targeting Russia's energy infrastructure in order to reduce the amount of money that Moscow can earn from oil and gas, which it could use to fund its war against Ukraine. The Russian government has been focusing on exporting diesel at a high price. However, this is the time of year when farmers are in high demand....

Iron ore prices fell on Thursday, recording their largest daily loss in a period of 'nearly 2 months. This was due to rising concerns over demand from China, the top steel consumer. Steel margins are shrinking and steel consumption is weakening amid high input costs. The largest iron ore contract traded on China's Dalian Commodity Exchange ended daytime trading down 1.85%. This is the biggest daily loss since the 9th of April. It closed at 767.5 Yuan ($113.32), the lowest level since the 16th of April. As of 0800 GMT, the benchmark July 'iron ore' on the Singapore Exchange fell...

Eramet's Indonesian unit has stopped nickel ore production after a government decision slashed its quota for 2026 by 70%, compared to the previous year. The company was unable to continue operations. Weda Bay Nickel is Eramet's joint venture nickel mine in Indonesia with China Tsingshan Group, and Antam's state miner. It received an initial production allowance for 12 million wet-metric tons this year. This is down from 42 million tons that it produced?in 2020. Jerome Baudelet, Eramet Indonesia’s Chief Executive Officer, told reporters at an industry conference that the mining quota had been exhausted. The production has been suspended and...

The gold price rose?on Thursday as a result of lower?oil prices and a 'weaker dollar. Investors reassessed renewed expectations regarding a U.S. - Israel war against Iran. As of 0408 GMT, spot gold rose 0.7% to $4,464.69 an ounce. U.S. gold for August delivery rose 0.6% to $4491.70. Dollar eased making greenback bullion prices more affordable for holders other currencies. Gold's gains are still heavily dependent on oil and the dollar. It only rises when they retreat, so it is highly dependent on the positive U.S. Iran headlines to sustain any momentum," said Tim Waterer, Chief Market Analyst at KCM...

Iron ore prices continued to fall on Thursday, reaching a 'lowest level in over six weeks.' This was due to rising concerns regarding demand from 'China, the worlds largest steel consumer. Iron ore, the most traded contract on China's Dalian Commodity Exchange(DCE), fell by 0.96% at 0327 GMT to 774.5 Yuan ($114.32) per metric ton. This was its lowest level since April 20, As of 0317 GMT the benchmark?July Iron Ore traded on the Singapore Exchange had fallen 0.93% to $102.7 per tonne, after having hit its lowest level since April 14, at $102.5. Analysts said that demand for iron...

Gold prices rose on 'Thursday', supported by lower crude oil prices and a weakened?dollar as investors reassessed renewed expectations of a resolution to U.S.-Israeli conflict with Iran. As of 0218 GMT, spot gold rose 0.7% to $4,461.09 an ounce. U.S. Gold Futures for August Delivery gained 0.5%, to $4487.90. Dollar eased making greenback bullion prices more affordable for holders other currencies. Gold's gains remain largely at the mercy of the dollar and oil. It only rises when they pull back. This makes it dependent on positive U.S. - Iran headlines to sustain momentum, said Tim Waterer. The Trump administration announced...

The gold price fell on Wednesday as investors focused on the Middle East, and economic data. By 8:40 am EDT (1240 GMT), spot gold had fallen 0.7% per ounce to $4,452.09. U.S. Gold Futures fell 0.9% to $4480.50. Gulf hostilities flared up again after Iranian attacks on Kuwait damaged the airport and injured dozens, while?U.S. Military strikes were carried out near the Strait of Hormuz. Diplomacy, which was supposed to end the war but showed little progress, failed to stop the conflict. David Meger is the director of metals at High Ridge Futures. As the conflict intensifies it is expected...

?Gold prices fell on Wednesday as a result of a stronger dollar, and rising oil prices. The conflict in the Middle East continued to dampen hopes for a quick resolution of the U.S. - Iran conflict. By 1128 GMT, spot gold had fallen 0.5% to $4463.74 an ounce. U.S. Gold Futures for August Delivery fell 0.6% to $4492.00. Gulf hostilities flared up again on Wednesday as an Iranian missile attacked Kuwait's airport, and the U.S. Military carried out strikes near the Strait of Hormuz. Diplomacy between Washington, Tehran and Tehran made little progress. Due to the renewed conflict in the...

Zambia has extended the suspension on a 10% duty for copper concentrate exports until September 30 to clear the'stockpiles' of unprocessed material as the smelters in the country undergo extensive maintenance and repairs. The copper miners of Africa's second largest producer of metals used in electrical infrastructure have undertaken lengthy smelter-maintenance programmes in response to technical challenges which have affected?processed production. Zambia exports copper mainly in the form of refined cathodes rather than concentrate. Zambia exported 890 346?metric tonnes of copper in 2025, and aims to increase national production to?3 millions tons by 2031. According to a government announcement seen...

The copper price?retreated? on Wednesday, after renewed hostilities in Iran's?war undermined the optimism of an imminent resolution and boosted the?dollar. However, the prospect of U.S. Tariffs have limited the downside. Benchmark 'three-month copper at the London Metal Exchange fell 0.9% to $13,914 per metric tonne by 0930 GMT. In the previous session it had reached its highest level in over two weeks, with a 1.5% gain. Gulf hostilities erupted on Wednesday, as diplomacy between Washington & Tehran showed little progress. The markets have moved to a more risk-averse environment as a result of the exchange of fire. Oil prices rose...

The 'dollar' strengthened on Wednesday, and oil prices rose as the conflict in the Middle East continued. This dimmed the hopes of a quick resolution to the U.S. - Iran conflict. By 0922 GMT, spot gold had fallen 0.8% to $4449.19 an ounce. U.S. Gold Futures for August Delivery fell 0.9% to $4478.40. On Wednesday, Gulf hostilities erupted again, with an Iranian missile attack damaging Kuwait’s airport, and U.S. strikes near the Strait of Hormuz. Diplomacy between Washington, D.C., and Tehran had made little progress. Due to the renewed conflict in the Middle East, gold is under pressure. Oil prices...

The price of copper eased on Tuesday as investors locked in profits after prices reached a two-week high. Meanwhile, uncertainty around a U.S. metal tariff limited losses. As of 0715 GMT, the benchmark 'three-month copper' on the London Metal Exchange had fallen 1.09% to $13,887 per metric tonne. On Tuesday, it reached a two-week high of $14,056, surpassing the $14,000 barrier. The Shanghai Futures Exchange's most active copper contract gained 0.37%, closing daytime trading at 106.380 yuan. ($15,712.51) per ton. This is lower than the 3-week high of 107.420 yuan, which was set during evening trade. As the deadline for...

India's antitrust agency is investigating Mrs.?India Inc., an organiser?of a beauty pageant for?married?women?that sent winners to global events. It accuses it of abusing their position and setting burdensome contracts for participants. The Competition Commission of India is conducting its first investigation into allegations of wrongdoing made by some of the largest companies in the world, including France's Pernod Ricard and India's Tata Steel. The focus is on a niche market that the regulator has described as "a market?for beauty pageants in India for married women" with the goal of sending the winners to major international contests. In an order issued...