Asia / Pacific

The International Monetary Fund (IMF), which last week raised its growth forecast for 2025 for the Middle East, North Africa, and the Levant, said that the risks in the region remain to the downside despite recent improvements in geopolitical conflicts. The IMF raised its forecast of GDP growth in 2025 for the MENA Region to 3.3% from 2.6%, which it projected in may. The outlook for this year was a resilient one, despite the fact we are living in a time of global uncertainty, where trade tariffs affect most of the world, and geopolitical tensions still exist, according to Jihad...

Oil prices dropped on Tuesday due to concerns over excess supply, and the risks of demand arising from tensions between U.S.A. and China, two of the world's largest oil consumers. This was despite President Donald Trump saying he expects to reach a deal. Brent crude futures were down 14 cents or 0.2% at $60.87 per barrel at 0005 GMT. The U.S. West Texas Intermediate (WTI), which is due to expire Tuesday, fell 0.1% to $57.45. The December contract, which is more active, was down by 13 cents or 0.2% at $56.89. Donald Trump, the U.S. president, said Monday that he...

The National Foreign Trade Council, whose members include U.S. companies like Oracle, Amazon.com, and Exxon Mobil on its board of directors urges the Trump administration suspend an immediate rule that it claims has halted U.S. billions in exports. It also says this will cause China and other countries drop U.S. businesses from their supply chain. The National Foreign Trade Council, in a letter to President Donald Trump, takes issue with the Affiliates Rule which prohibits American companies from shipping technology and goods to companies that are part-owned or controlled by sanctioned companies. In a letter dated October 3, NFTC president...

A lobbying group, whose board of directors includes U.S. companies like Oracle.com, Amazon.com and Exxon Mobil, is calling on the Trump administration suspend an executive order that it claims has halted U.S. exports worth billions of dollar and will lead China and other countries drop U.S.-based firms from their supply chain. The National Foreign Trade Council, in a letter to President Donald Trump, and seen by, takes aim at what is known as the Affiliates Rule. This rule prohibits American companies from supplying goods and technology, to companies that are part-owned, by sanctioned companies. In a letter dated October 3,...

The major stock markets of the Gulf were sluggish in early trading on Monday due to weak oil prices. Investors also awaited further corporate earnings reports. The oil prices - a catalyst in the Gulf's Financial Markets - have been weighed down as a result of worries about a global glut. U.S.-China Trade tensions are also adding to the concerns over an economic slowdown, and a weaker demand for energy. Saudi Arabia's benchmark Index eased by 0.1% on track to extend losses from previous session. ACWA Power Company lost 2.2%. ACWA Power obtained project financing of 10.8 billion Riyals ($2.88...

India's equity benchmarks rose Monday, led largely by a rally after results in the index heavyweights, private lender HDFC Bank, and oil-to -telecom conglomerate Reliance Industries. Profit booking at ICICI Bank capped gains. As of 10:09 a.m. IST, the Nifty 50 index rose by 0.45% to 25,828.75. The BSE Sensex gained 0.51% to 84376.21. Early trade saw both benchmarks rise by 0.8%, bringing them within 2% from the highs of September 2024. Fourteen out of 16 major sectors posted gains. The small-caps were flat, while the midcaps gained 0.6%. HDFC Bank, the largest private lender in India, rose by as...

Investor sentiment is expected to be boosted by better-than-expected earnings of top lenders, as well as positive global signals on the easing of China-U.S. Trade tensions. Gift Nifty futures traded at 25,980.5 as of 7:56 am IST. This indicates that the benchmark Nifty will open above its one-year close of 25,709.85. HDFC Bank, India's largest private sector lender, and ICICI Bank, India's second-largest private sector lender by assets, reported on Saturday that they had achieved higher profits than expected for the third quarter. Reliance Industries, on the other hand, missed its quarterly profit forecasts due to weakness in its oil-to-chemicals...

U.S. president Donald Trump said on Sunday that Indian prime minister Narendra Modi had told him India would stop buying Russian crude oil. He also warned that New Delhi will continue to pay "massive tariffs" if it does not. Trump told reporters on Air Force One: "I spoke to Prime Minister Modi from India and he said that he would not be doing anything about the Russian oil." When asked about India's claim that it wasn't aware of any conversations between Modi and Trump's response was: "But, if they say that, they'll continue to pay massive duties, and they don’t...

Egypt's Foreign Minister said that the Palestinian issue was crucial to progressing in the U.S.-funded transport project connecting India to Europe by sea and rail via the Middle East. The India-Middle East Economic Corridor was announced in September 2023 on the sidelines of a meeting of leaders of the Group of 20 leading economies. It was seen as a U.S. rival to China's Belt and Road initiative on global infrastructure. A month after the announcement of the decision, war broke out in response to the attack by the Palestinian Islamist Hamas on Israel on October 7, 2023. "We must remember...

India's equity benchmarks reversed their early losses on Friday. The Nifty 50 reached a new high of one year, with gains from Reliance Industries before its results, outweighing losses by Infosys, and Wipro. Both companies fell due to margin concerns, despite strong earnings. As of 10:36 am IST, the Nifty 50 index rose by 0.42%, to 25,693.3. This is its highest level since October 1, 2024. The BSE Sensex also increased by 0.50%, to 83887.58. Both indexes dropped about 0.2% when they opened. The benchmarks reached a three-month high on Thursday and are now less than 3% off their record...

Three merchant bankers familiar with the matter on Friday said that a decline in corporate bond rates in secondary market following a dovish policy encouraged three state-run companies to raise approximately 77.50 trillion rupees ($880.5 millions) through bonds sales. Hindustan Petroleum, a state-run company, plans to raise 50 billion rupees. Bharat Petroleum plans to raise 20 billion rupees. The bankers said that both oil marketing companies will be looking to issue bonds with a maturity of five years or less in the next few days. North Eastern Electric Power Corp. (NEEPCO), a subsidiary wholly owned by NTPC, would like to...

The Russian Energy Week 2025 keynote speech was delivered by President Vladimir Putin in Moscow. Here are the main points of his speech. His words were translated into English by. On the Future of Oil Market: According to estimates, the global oil demand for this year is expected to be 104,5 million barrels per a day, which is more than one million more than it was last year. The growth of the petrochemical sector is driving the consumption increase, and the transportation sector has seen many plans to phase-out internal combustion engines being delayed. "People will continue to use gasoline-powered...

Shanghai copper fell on Wednesday as traders lost confidence due to a weak Chinese demand, high prices, and a strong US dollar. The Shanghai Futures Exchange's most active copper contract closed the daytime trade down by 0.13% to 85,420 yuan (11,992.14) a metric tonne. The two sessions of gains were halted by this session, which was supported by strong industrial output in China and new attempts to ease Sino U.S. Trade tensions. The benchmark contract for three-months copper on the London Metal Exchange rose 0.41%, to $10.667 per ton at 0700 GMT. The red metal's demand is muted by the...

Malaysia welcomes foreign companies to form joint ventures to develop rare Earths in the nation, according to state media on Wednesday. The report was based on the Trade Minister. According to estimates by the government, Malaysia has 16.1 million tons of rare earths, but does not have the technology to mine or process them. Malaysia wants to build midstream processing capability in a market dominated by China. China tightened export restrictions earlier this month. Exclusively, earlier this month, it was reported that the government is in talks with China about rare earths processing. The Malaysian sovereign fund Khazanah Nasional will...

The copper price fell on Tuesday due to a stronger dollar, and signs that demand for metals from China, the world's largest consumer, was muted. However, a decrease in stocks at the London Metal Exchange helped limit the losses. The benchmark LME three-month futures fell 0.4%, to $10.651.50 per metric ton at 1001 GMT. Traders are waiting for more updates on the U.S. and China trade talks ahead of a high-stakes summit between the leaders of the two world's largest economies scheduled to take place in South Korea next week. The market for copper used in construction and power was...

Two people who have direct knowledge of this matter say that Anugrah Neo Energy Materials, a nickel mining and processing firm in Indonesia, plans to make an initial public offer on the Indonesia Stock Exchange. The company hopes to raise $300 million. Sources declined to identify themselves as this information is not public. According to sources, Anugrah Neo Energy Materials could be valued at more than 2 billion dollars. Proceeds will also be used for expansion. They added that DBS and RHB are among the banks involved in the IPO. Anugrah Neo Energy Materials didn't immediately respond to an inquiry...

On Tuesday morning, most Gulf stock markets were up, following the Asian benchmarks. This was due to a possible easing in U.S. China trade tensions. Saudi Arabia's index, however, fell because of disappointing corporate earnings. Dubai's main stock index rose by 0.3% with the top lender Emirates NBD advancing 1.9%. RBL announced on Saturday that ENBD would buy 60% of the Indian private lender RBL Bank, the largest acquisition of its kind in India's finance sector. The index in Abu Dhabi rose 0.3%. This was due to a 0.3% increase by investment company Multiply Group after the board of its...

The dollar rose on Tuesday and investors took profits. Gold had reached a new high the previous day on the hope of more interest rate reductions from the U.S. Federal Reserve, and on strong demand for safe-haven assets. As of 0634 GMT spot gold was down by 0.7%, at $4,323.69 an ounce. It had reached a record high of $4.381.21 per ounce on Monday. U.S. Gold Futures for December Delivery fell by 0.4%, to $4340.10 an ounce. Gold is now more expensive to other currency holders due to the 0.2% rise in the dollar index. Tim Waterer, KCM Trade's Chief...

Metals are a hot topic these days. Silver is catching up to gold in terms of record-breaking prices. Rare earths are at the center of the U.S.-China trade dispute, and the industrial metal supply chain is bending under the new global order of tariffs. The London Metal Exchange Week (LME Week) seminars and parties this year were full of interesting topics. The annual metals conference in London last week was a great success. Here are five key takeaways. GREEN PREMIUMS Hong Kong Exchanges and Clearings (HKEx), the owner of LME, surprised LME Week by announcing a new Dubai-based subsidiary. Commodity...

The gold price fell on Tuesday as investors took profits following the bullion's recent high, which was fueled by the expectation of more interest rate reductions from the U.S. Federal Reserve. As of 0456 GMT spot gold was down by 0.3%, at $4340.99 an ounce. It had reached a record high of $4381.21 per ounce on Monday. U.S. Gold Futures for December Delivery were unchanged at $4,357.80 an ounce. Tim Waterer, KCM Trade's Chief Market Analyst, said that profit-taking and a decline in safe-haven flows have combined to take the edge of the gold price. Any pullbacks will be seen...

Iron ore prices were largely in a narrow range on Tuesday as investors focused their attention on a meeting between China's top leaders that will determine the economic policies of the second largest economy of the world for the next five-year period. On Monday, the Communist Party of China began a four day closed door meeting that will culminate in the outline. However, the full plan with its development goals won't be published until March 2026. The meeting was held after data revealed that China's property crisis-hit sector continued to be a drag on the steel consumption. This also affected...

As part of an extensive critical minerals agreement, signed on Monday to counter China's control over the industry, the United States and Australia extended financial assistance to several Australian firms. The agreement between U.S. president Donald Trump and Australian prime minister Anthony Albanese commits the two countries to investing at least $1 billion in each of the next six month's mining and processing projects, and to setting a floor price for essential minerals. This is a move that Western miners have long fought for. The governments will also support a plan announced by U.S. Aluminum producer Alcoa, to build a...

Gold prices increased by more than 1% on the first day of this week, boosted by expectations for further U.S. rate cuts, and by sustained demand from investors who were awaiting upcoming U.S. China trade talks, and U.S. inflation data due out later in the week. As of 1330 GMT, spot gold rose 1.6% to $4,318.50 an ounce. U.S. Gold futures for delivery in December rose 2.8%, to $4333.10 an ounce. Gold prices reached a record-high of $4,378.69 per ounce on Friday but ended 1.8% lower, their biggest drop since mid-May, after Donald Trump's comments eased concerns about U.S. China...

Metals are a hot topic these days. Silver is catching up to gold in terms of record-breaking prices. Rare earths are at the center of the U.S.-China trade dispute, and the industrial metal supply chain is bending under the new global order of tariffs. The London Metal Exchange Week (LME Week) seminars and parties this year were full of interesting topics. The annual metals conference in London last week was a great success. Here are five key takeaways. GREEN PREMIUMS Hong Kong Exchanges and Clearings (HKEx), the owner of LME, surprised LME Week by announcing a new Dubai-based subsidiary. Commodity...