Asia / Pacific

Coal India, which is focused on coking coal, has been scouting for partnership opportunities to mine rare-earth metals in?Australia and Russia as well as Argentina, Chile, and several African nations, said a senior?executive from its unit. This move follows China's decision to restrict exports of rare-earth materials late last year. The restrictions threaten operations in industries such as autos and electronics, which rely on these?critical minerals. "In our own country as well as in other countries, we will?invest. We are going explore. We are also working with other companies to find rare earth metals. Manoj Kumar Agarwal, Chairman and Managing...

MUMBAI - The Indian government approved a reduction in the percentage of shares that large companies seeking to list are required to sell. This has been reduced from 5% to 2.5%. SEBI chair Tuhin Kanta Pandey stated that the Securities and Exchange Board of India has also agreed to a settlement in principle with the National Stock Exchange to resolve a legal dispute which had delayed?the NSE’s initial public offer. Last year, the regulator halved minimum IPO floats for large companies. Companies valued at more than?5 trillion (57 billion dollars) could sell only 2.5% of paid-up capital after their listing....

China has praised the visit by Canadian Prime Minister Mark Carney to Beijing on Thursday, calling it a "pivotal step" in efforts to recalibrate relations following months of intensive re-engagement. The remarks by China's top diplomat Wang Yi came during a meeting between Carney and his Canadian counterpart Anita Anand. Anita is a member of Carney's delegation on this first visit to Canada since 2017. Wang stated that this was the first time in eight years that the Canadian Prime Minister had visited China. This is a landmark and pivotal moment for our bilateral relationship. Wang said that China was...

OPEC said on Wednesday that world oil demand will rise at a comparable pace in 2027 to this year. They also published data showing a close balance between supply and consumption in 2026. This is in contrast with other forecasts which predicted a glut. The Organization of the Petroleum Exporting Countries (OPEC) believes that the oil demand in 2027 will increase at a robust rate and that the transition to cleaner fuels is likely to be slower than other predictions. OPEC said that it expects the oil demand to increase by 1,34 million barrels a day in '2027. This is...

TotalEnergies, the French oil giant, announced on Wednesday that it had?formed BxT Trading a joint venture with Bahrain's Bapco Energies. The Middle East-focused venture is expected to trade products from Bapco’s Sitra refinery, which produces 267,000 barrels per day. The partnership builds upon a 2024 agreement?underwhich Total agreed to expand and modernise the?Sitra refinery to reach a throughput capacity 380,000 barrels per d?ay and to share its trading expertise. It also explored options to partner with Bahrain in projects involving renewable energy and liquefied gas. Bapco announced in December a new increase of capacity to 405,000 bpd. In a recent...

By America Hernandez PARIS, January '14 - French giant TotalEnergies signed an agreement to sell its 10% non-operated stake in the Nigerian oil asset SPDC (renamed Renaissance JV) to Vaaris. This follows a failed sale to Mauritius based Chappal Energies last year. Total retains a 'full economic interest in the?deal, which includes stakes of three other licenses that produce mainly?gases for Nigeria LNG. The company did not provide any further information on the buyer. The inability of the buyer to pay the $860 million price tag was the reason why Nigerian regulators rejected Total's first deal with Chappal Energies for...

China's crude imports increased 17% in December compared to a year earlier, and total imports for 2025 will rise 4.4%. The daily volumes of crude oil imported in December 2025 and throughout the year will be at all-time records. According to the General Administration of Customs, the world's biggest crude importer imported 55.97 millions metric tons of petroleum in December. This is equivalent to 13,18 million barrels of oil per day. The increase was 10% compared to 50.89 in November. The data shows that China will import 557.73 millions tons of crude oil by 2025 or 11,55?million barrels per day,...

Customs data revealed that China's coal imports in December rose to a "record monthly high" due to winter stockpiling and rising domestic prices. According to the General Administration of Customs, imports in December reached a monthly record of 58.59?metric tons. This is a sharp rebound from'supply constraints caused by major exporters Indonesia Australia and Russia in November. Buyers stock up on coal in anticipation of the coldest months, when heating demand drives consumption higher. A government index also showed that domestic coal prices rose to nearly a year high by the end of November. This would have led buyers to...

Next week, business and political leaders will be attending the World Economic Forum’s annual meeting in Davos to test their vision of a global economic order based on rules. The expected appearance of U.S. president Donald 'Trump' in the Swiss resort shows the difference between his agenda, and the consensus-driven approach taken by the?the?WEF. This organization has been criticized for years as a talk shop for the rich. His "America First' policy has resulted in trade tariffs as punishment, military interventions in Venezuela, a threat to take over Greenland with force, and the U.S. retreating from international cooperation on climate...

The chief executive of TotalEnergies, a French oil company, said that the company would consider returning to Venezuela. However, it is not a top priority. "People want a quick return to Venezuela, but it's going to take some time to get a clear investment framework in place. TotalEnergies left Venezuela in 2021. Pouyanne pointed to 'the high capital investment needed to produce and transport Venezuelan heavy crude oil, and to manage greenhouse gas emissions. Pouyanne stated that adding 100,000 barrels a day would require an additional $100 billion. The CEO stated, "We will look at it, we'll be sure to...

Next week, business and political leaders will be attending the World Economic Forum annual meeting in Davos to test their?vision for a global economic order based on rules. The expected appearance of U.S. president Donald Trump in the Swiss mountain resort highlights the difference between his agenda, and the consensus-driven approach taken by the WEF. It has been criticized for years that the WEF is just a rich people's talking shop. His "America First' policy has resulted in trade tariffs as punishment, military interventions in Venezuela, threats to take over Greenland and a retreat by the U.S. from international cooperation...

Bharat Coking Coal's $118.7-million initial public offering attracted bids of 1.17 trillion rupees (12.97 billion dollars) on Tuesday as the prospects for strong demand for coking coal by steelmakers boosted appetite for a?shares. According to exchange data, the company, India's largest coking coal miner received bids of 50.93 billion, or nearly 147 times more shares than were offered, after three days of auctioning. The company is a state-owned subsidiary of Coal India. Why it's important After two years of record-breaking fundraising, the strong response shows that investors are still interested in India's primary market. Bharat coal is the first mainboard...

Copper prices dropped?on Friday, hitting their lowest level in a week. They were weighed down by rising concerns about demand in China's top consumer following?downbeat statistics and the absence rate cuts. The Shanghai Futures Exchange's most traded copper contract closed the daytime trading session 2.26% lower, at 100,770 Yuan ($14.461.20) per ton. This is its lowest level since January 9. Benchmark three-month Copper on the London Metal Exchange fell 1.68% by 0723 GMT to $12,885.50 per ton, its lowest level since January 9. The dollar's strength contributed to a 0.6% decline in both benchmarks, which had gained ground earlier in...

Gold extended its losses ?on Friday after stronger-than-expected U.S. economic data reduced expectations of near-term Federal Reserve ?rate ?cuts, while easing geopolitical tensions shrunk demand for safe-haven bullion. By 0733 GMT, spot gold was down 0.2% at $4,604,29 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.90. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any intervention to quell the unrest?in...

The gold demand in India was muted as prices hit record highs, reducing the appeal of retail purchases. In China, bullion trades at a premium as demand remains steady before the Lunar New Year. Indian dealers offer a discount This week, official domestic prices will be up to $12 an ounce, including 6% import and 3% sales taxes, compared to the previous week's up to $6. On Friday, domestic gold prices were trading at around 142.800 rupees per 10 grams, which is not far off the record high reached earlier this week of 143.590 rupees. Chirag Thakkar is the CEO...

?Gold extended its losses on Friday after stronger-than-expected U.S. economic ?data ?dampened expectations of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0619 GMT, spot gold was down 0.2% at $4,604.39 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.50. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any kind...

Gold ?extended its losses on Friday after stronger-than-expected U.S. economic data ?dampened expectations ?of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0426 GMT, spot gold was down 0.4% at $4,598.52 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. gold futures for delivery in February fell by 0.5% to $4.601,80. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any...

Copper prices fell Friday due to concerns about demand prospects in China, the top consumer, following a downbeat data and lack of rate cuts. However, the metal was still on track for a gain this week, thanks to a tight supply outlook. By 0226 GMT, the most traded copper contract at the Shanghai Futures Exchange had fallen 0.97%, to 102100 yuan (14,655.43) a metric ton. The benchmark three-month copper price on the London Metal Exchange fell 0.58%, to $13,029.5 a ton. The benchmarks are up around 0.5% this week. However, a stronger dollar has limited the gains. Copper prices are...

Chow Tai Fook Jewellery Group is China's largest jewellery retailer with thousands of shops across mainland China and Hong Kong. The group has begun to look further afield in search of new growth. It started?in Southeast Asia, with a brand-new store in Thailand. The company opened its flagship store at Bangkok's Siam Paragon, a luxury shopping and lifestyle center in Bangkok. This move is part a 'wave' of Chinese and Hong Kong brands moving abroad to offset slowing domestic demand and rising market saturation in the world’s second-largest economic powerhouse. Sonia Cheng said that the company's expansion abroad "sees strong...

Gold prices declined on Wednesday, as the dollar rose on weaker than expected U.S. jobless claims data. Meanwhile, President Donald Trump’s more moderate stance on Iran weighed further on demand for gold. As of 09:32 am, spot gold was down by 0.3%, at $4,607.59 an ounce. ET (1432 GMT). On Wednesday, gold reached a new record of $4,642.72. U.S. Gold Futures for Delivery in February fell by 0.5% to $4.612.50. Data showed that new U.S. unemployment benefit applications unexpectedly dropped last week. This pushed the dollar index up to its highest level since December 2, and made bullion prices more...

Iron ore futures fell on Thursday, as the hot metal output in China's top buyer fell amid a slow return to production following the New Year holiday. The most-traded May iron ore contract at China's Dalian Commodity Exchange closed daytime trading 1.03% lower, closing at 813 Yuan ($116.63). The contract reached its lowest level since January 9, at 812 Yuan, earlier in the day. As of 0709 GMT the benchmark?iron ore for February on the Singapore Exchange had fallen by 0.97% to $107 per ton, after reaching its lowest level since January 7, at $106.95. According to data released by...

The Investment Ministry announced on Thursday that Indonesia's?foreign?direct investments last year totalled 900.9 trillion Rupiah (US$53.4 billion), up 0.1% over the previous year. The fourth quarter FDI was 256.3 trillion Rupiah. This is a 4.3% rise from the same time period last year, and the first growth in three-quarters. This compares to a'reduction of 8.9% during the previous three-month period. The data excludes investment in the oil and gas and financial sectors. Analysts believe that Southeast Asia's largest economy must attract more foreign investment if it is to increase growth from the current 5% to President Prabowo's target of 8...

Gold fell on Thursday, as investors took profits after the "yellow metal" hit a record the previous session. A softer tone by U.S. president Donald Trump towards the Federal Reserve Chair and Iran also dampened the demand for safe havens. As of 0652 GMT, spot gold was down by 0.3% to $4,608.77 an ounce. Bullion reached a record $4,642.72 per ounce on Wednesday. U.S. Gold Futures for Delivery in February fell by 0.5% to $4613.0. Ilya Spivak is the head of global macro for Tastylive. He said: "Today we are seeing that gold is down after (Trump said) maybe we...

Gold fell?on Friday as investors booked profits following three consecutive sessions of record highs. Meanwhile, an apparent softer tone by U.S. president Donald Trump towards the Federal Reserve Chair and Iran dampened demand for safe-haven bullion. As of 0322 GMT, spot gold was down by 0.8%, at $4,584.03 an ounce. The previous session saw bullion reach a record high of $4,642.72. U.S. Gold Futures for February Delivery fell 1% to $4,576.70. Ilya Spivak is the head of global macro for Tastylive. He said: "Today we are seeing that gold 'is down' a little bit after Trump said we might not...