Asia / Pacific

According to government data released on Monday, India's infrastructure output increased 4.8% in August. The third release of data under the new series uses the year 2022-23 for the base and includes iron ore in the core sector basket. The data showed that infrastructure output grew?a revised 5 percent in July compared to a year ago. KEY NUMBERS * The cement output increased 12.5% from the 12.7% that was reported in July. * Steel production increased by 3.4% in August, up from a revised 1.9% increase in July. * The electricity generation increased by 11.6% in August, compared to a...

The government of Bangladesh raised fuel prices up to 17.4% in order to stem the mounting losses resulting from the global oil price surge and the higher shipping costs associated with the Middle East conflict. The new rates are effective Monday and are expected to increase transportation and production costs in the import-dependent economies, increasing inflationary pressures during a time when many industries, such as the key garment export sector of the country, are already "fighting with an acute energy shortage". According to the Energy Ministry, international fuel prices have more than doubled from March 2026. Freight charges are also...

Oil prices fell on Monday, as investors hoped for a recovery of shipments from Saudi Arabia. This was despite the ongoing attacks by the?Yemeni Houthis which have escalated the tensions in the Middle East. Brent crude futures fell 81 cents or 0.78% to $103.06 per barrel at 0031 GMT, after falling 0.91% Friday. US West Texas Intermediate crude traded at $99.41 per barrel, down by 89 cents or 0.89% after a 1.58% drop in the previous session. Yemen's Iran supported Houthis claimed they attacked "sensitive sites" in Saudi Arabia's capital, Riyadh, on Saturday using?missiles or drones. They also said that...

Iran warned against a new major attack by the United States or its allies on Sunday, saying it had received information that such an action was in preparation. This added to the tensions already present in a region on edge following drone and missile attacks on Saudi Arabia. Iran's central military command announced on state-run media that any further attack would result in a sustained retaliation, including against US interests and bases. Washington's regional partners would also be considered as parties to the conflict. It did not provide any further details on the information that it claimed to have about...

Iran warned against any new major attack by the United States or its allies, saying that it had received information that such a move was being planned. This added to the tension in the 'a'region, already on edge following drone and missile attacks on Saudi Arabia. Iran's central military command announced on state-run media that any further attack would result in a sustained retaliation, including against US interests and bases. Washington's regional partners would also be considered as parties to the conflict. It did not provide any further details on the information that it claimed to have about an upcoming...

Two people familiar with the plan say that Russian President Vladimir Putin's top economic representative and Germany's AfD far-right leadership are preparing to meet in order to discuss restarting gas supply to Europe's largest economy. The talks for a March meeting highlight the close ties between Moscow and AfD. Although blocked from power by its rivals' coalition, AfD is Germany's most popular party among voters. One of the sources said that Kirill Dmitriev would attend, who is close to Putin and heads Russia's sovereign fund. He will also be joined by Alice Weidel, Tino Chrupalla and Alice Weidel, co-leaders of...

The chief executive of York Holdings said that the company is expanding its range of low-cost products in order to appeal to consumers who have seen their finances impacted by inflation. Seiichiro Itabashi, chief executive of Ito-Yokado & York-Benimaru, said in an interview on Thursday that the company, which was sold to Bain Capital by Seven & i last year, is now looking to adjust its prices and expand the product range to keep up with the competition. Itabashi stated that the pressure of fast-growing discount supermarkets and household finances is forcing a change in strategy. The firm plans to...

York Holdings, a supermarket and retail group, is expanding their'slate' of lower-cost items to appeal to consumers whose finances have been affected by inflation. Seiichiro Itabashi, chief executive of Ito-Yokado, and York-Benimaru, said that after being sold to Bain Capital by Seven & i last year, they are looking to adjust their prices and expand their product line to match the industry. Itabashi stated that the firm is aiming for an initial public offering in 2028. He said that many customer groups were extremely sensitive to prices. If you don't do price increases under inflation correctly, you risk losing customers....

Fuel news agency Enkorr reported that retail prices of motor fuel have risen in Ukraine by 8-10% since the beginning of the month. This is in line with the rises in European prices. Diesel has also climbed close to the psychological threshold price of 100 hryvnias per litre ($2.24). The Russian missile attack on Ukraine has destroyed the country's entire oil refining capacity. Fuel prices have been affected by the U.S. and Israeli war against?Iran. Enkorr data showed that average petrol prices rose 10% in September to 88.3 Hryvnias a litre on September 17 while diesel prices? climbed 8% to...

Barclays anticipates that the Bank of England will increase rates by 25 basis points in November, after keeping them steady. They cite a "dramatically altered" medium-term outlook for energy and warn of a possible further tightening if the Middle East conflict continues. Barclays joins J.P. Morgan, which has also warned about the possibility of further rate hikes due to the Middle East Crisis. J.P. Morgan had previously predicted that the BoE would raise rates in November 2026, and then cut rates twice in 2027. BoE?kept rates at 3.75% as expected on Thursday, but also forecasted?that inflation would top 4% by...

Mihail Kogalniceanu Airport in Romania was designed to make Americans feel comfortable. The streets of the base are named Alabama (the state), Ohio (the state), Alaska (the territory) and George Washington. Since 1999, the base has been home to U.S. soldiers who have supported America's wars against Iraq and Afghanistan. About half of the roughly 2,000 American soldiers in Romania last year, the majority of whom lived at the base, left as the Trump administration began to realign the U.S. Military presence in Europe. The departures in Romania, a North Atlantic Treaty Organization bordering Ukraine country, caused alarm. MK, as...

On Thursday, the regional governor Mikhail Yevrayev posted on Telegram that a?Ukrainian?drone attack damaged an oil?refinery located in the Russian city Yaroslavl. The drone caused a fire, which was then extinguished. After Donald Trump announced on Monday that Russia and Ukraine had reached an agreement on energy, the Russians have acknowledged their strikes on refineries. However, neither side has confirmed this agreement. On Sunday, Trump urged Ukrainian president Volodymyr Zelenskiy to stop "targeting" Russian diesel infrastructure. He blamed the attacks for the diesel shortage which is "hurting the whole world". Authorities in Russia's southern region of Krasnodar reported that drone...

The copper price edged up on Monday as the US Federal Reserve's?rate?hike last week dispelled months of uncertainty about?rates. Meanwhile, optimism remained over the?strong China market. Benchmark 'three-month' copper on the London Metal Exchange rose 0.38% to $14,577 per metric ton at 0700 GMT. The price of copper had risen to $14,644.5 per ton earlier, its highest level since September 10 when it reached a high of $14,875. The most traded copper contract at the?Shanghai Futures Exchange increased 0.59%, to 110,180 Yuan ($16.455.83) per ton. Analysts from Chinese broker Everbright Futures stated in a Monday note that the Fed's hike...

Australian shares closed Monday with little change as gains in financials offset losses in commodity stocks. Investors were cautious due to expectations of a rate hike by the central bank next week. The S&P/ASX 200 closed flat at 8,731,90 points after closing the same on Friday, and losing 0.1% over the past week. Michele Bullock warned on Friday that the Reserve Bank of Australia's Governor, Michele Bullock, said that the rise in oil prices and AI boom are posing upside risks to inflation. Commonwealth Bank of Australia - and ANZ - have revised their forecasts. ANZ has penciled in a...

Two JSW Group companies will raise around 28.5 billion rupees (about $298 million) in shorter-term bonds during the quarter of October-December, according to a few bankers. JSW Energy will raise 15 billion rupees via bonds with a maximum of five years, and JSW Steel can raise 13.5 billion rupees by borrowing for three or four years, according to bankers who requested anonymity because they were not authorized to speak to media. According to the bankers, if interest rates are favorable in October, then companies could tap into the market. Emails sent to the firms seeking comments were not answered. India...

Two sources familiar with the matter said that the state-owned China Rare?Earth?Group was in negotiations to buy Shenghe Resources. This would consolidate Beijing’s control over the rare earth sector, and give Beijing a stake in Washington’s rare Earth play. The deal, if successful, would transfer control of Shenghe’s stakes in foreign companies, including a 3 percent share of US company MP Materials. This firm counts the US Department of Defense, its largest shareholder, after an investment made last year. Shenghe Resources confirmed that it had been made aware of "false reports" in overseas media about a rare earth enterprise group...

Gold prices rose to a new weekly high on Friday. They were also on track for their first 'gain' in four weeks, thanks to lower oil prices, which eased fears of inflationary pressures. However, a stronger dollar tempered gains. Gold spot was up 0.7% to $4,372.27 an ounce at 09:16 am EDT (1316 GMT) after reaching its highest level since the 11th of September earlier in session. Bullion is up 0.6% this week. US gold futures increased 0.3% to $4,411,20. Oil has been the primary driver of inflation, so a decrease in oil prices will reduce inflation pressures.?Precious Metal investors...

According to a proposal by the European Commission, India will be one of the countries that are 'banned from importing EU metal scrap, including aluminium scrap. The Commission published its proposal on Friday. It confirmed an earlier report and opened up a consultation with the public on the list of exemptions until October 16. This move follows a decision by the Commission to abandon a plan earlier this month that would have imposed a '15% export tax on scrap aluminium after being pressed by India, its largest buyer. Disagreements between EU officials have diluted the proposal for trade by excluding...

The copper price rose for the fourth straight session on Friday. It is now back to'record highs' as China, the top consumer, continues to support?the market. The price of three-month copper at the London Metal Exchange rose?0.2%? to $14,513 per metric ton, in open-outcry official trading. It had previously reached $14,572.5 - its highest level since 10 September, when it peaked at $14,875. The metal rose 2% in the past week. Data from high-frequency sources indicate that Chinese demand was 1% to 2% higher than the previous year in the first half September. Goldman Sachs stated in a research note...

Two sources with knowledge of the matter said that the state-owned China Rare Earth Group was in negotiations to acquire Shenghe Resources. This would consolidate Beijing’s control over the rare earth sector, and give Beijing a stake in Washington’s rare Earth play. The deal, if successful, would transfer control of Shenghe’s stakes in foreign companies, including a 3 percent share of US rare-earths company MP Materials. This firm counts the US Department of Defense as its biggest shareholder following an investment made last year. Sources who spoke under the condition of anonymity due to the sensitive nature of the issue...

Noel Tata spent most of his life in the shadows, while his half-brother Ratan Tata became the face of the conglomerate. The low-profile executive is now a key player in a battle which could determine the ownership and leadership structure of the 158-year old Tata empire. Noel Tata is the chairman of Tata Trusts. This charity arm owns about 66% of Tata Sons. He now occupies one of the most powerful positions in Indian corporate governance. Noel Tata, who succeeded Ratan Tata in the role of chairman of the philanthropic foundations following the death of Ratan Tata in October 2024...

Investors have reacted negatively to the uncertainty surrounding the listing of Tata Sons and its leadership following a public disagreement. The sale came just a day after the board of Tata Sons moved to comply with Reserve Bank of India regulations that could force the holding company, Tata Sons, to list. They also extended Chairman N. Chandrasekaran’s term by 5 years. The move follows a growing disagreement between Tata Sons, the Indian conglomerate's largest shareholder, and Tata Trusts over "aspects of governance" and "succession planning". Calculations based on LSEG show that by 10:45 a.m. Friday, the market value of listed...

According to the developer of the project, the US government approved $414 million in financing for an uranium?project?in Niger. This is a victory for Washington, two years after that nation's expulsion of all US forces. According to a statement released by Global Atomic on Wednesday, the US Development Finance Corp has approved the debt facility of the Dasa project in Africa. The company calls it the highest-grade deposit of uranium in Africa. The investment could boost US access to strategic uranium at a time when Niger, world's 7th largest uranium supplier, is in dispute with French-backed Orano which has long...

The copper price rose on Thursday, as Chinese buyers returned to market after a recent selloff. Demand prospects also improved and the market shrugged off the?US rate hike. Benchmark 'copper' on the London Metal Exchange traded 1.2% higher at $14,408 per metric ton. Prices for the metal used in construction and power industries have fallen 4% since September 10, when they reached a record high price of $14,875 per ton. The dollar increased after the US Federal Reserve raised interest rates and reaffirmed their commitment to curbing inflation. The demand for industrial metals has been impacted by the rising dollar,...