Asia / Pacific

Ampol, Australia's largest?fuel retailer, reported a better-than expected annual profit? on Monday. This was driven by robust refiner margins at its lytton refinery in Queensland and a strong performance of its convenience retail operations. The refinery returned to profitability in fiscal year 2025 as a result of the Lytton refinery's margins, which rose by 46%, to $10.34 a barrel. This was due to global refinery failures and additional sanctions against?Russia. Fuel & Infrastructure, including its Lytton refinery business, reported full year operating earnings of A$405.6 (287.04 millions), which is more than double what it earned last year. Despite lower tobacco...

Congress may vote next week on whether to prevent 'President Donald Trump' from striking Iran without the approval of lawmakers. The U.S. Military is preparing for a possible serious conflict with Iran if diplomacy fails. Members of Congress have repeatedly tried to pass resolutions, which would prevent Trump from taking military action without the approval of lawmakers. The Constitution of the United States gives Congress, not the president, the power to send U.S. troops into war. The Constitution gives Congress the power to send U.S. soldiers to war, except for limited strikes to protect national security. Last week, it was...

The European Commission approved a new trusteeship on Friday that will give Berlin long-term control of the German assets owned by the Russian oil group Rosneft. This is part of the efforts to find a structural solution for the company. After the Russian invasion of Ukraine, Germany's long-standing energy relationship with Russia was shaken. It is necessary to renew the trusteeship every six months in order to?preserve energy security'. This creates uncertainty, mainly regarding the PCK Schwedt Refinery which supplies the majority of fuel to Berlin. The current trusteeship ends on March 10, 2019. The transaction that was examined by...

Indian share benchmarks recovered from initial jitters to rise?by mid-day on Friday as heavyweight stocks clawed back some?of the previous session's loss. As of 12:11 p.m. IST, the Nifty '50?added 0.54%, to 25,592.6. The BSE Sensex rose 0.48%, to 82897.3. The indexes had dropped about 0.3% on the opening, adding to a drop of 1.5% in the previous session. This was their biggest single-day decline in over two weeks. 15 of 16 major sectors were higher. The small-caps, mid-caps, and large-caps all added 0.1% to 0.5% respectively. Naveen Vyas is the head of the?family office of Anand Rathi Global Finance....

Data from the Joint Organizations Data Initiative on Thursday showed that crude oil exports by the world's biggest oil exporter dropped to 6,988 million barrels a day. This is down from 7.378 million barrels a day in November and the lowest since September. Saudi Arabian crude production reached its highest level since April 2023 in December. In November, the output was 10.050 millions bpd. The crude oil used in Saudi Arabia was either refined into products or exported. This is despite a moderately higher production of crude. Riyadh, along with other members of Organization of Petroleum Exporting Countries (OPEC), provides...

The cartel office of Germany said that changes in Germany's energy market have increased RWE's, LEAG's and EnBW's clout, which has led to a greater reliance on imports, as well as an increase in supply risks. According to the Bundeskartellamt annual report, which is based on data between May 2024 and April 2025, Germany's move away from flexible energy sources, such as coal, nuclear, and hydroelectric, has made remaining plants more important for meeting demand. The country temporarily activated reserve?stations to meet the energy needs of the crisis caused by Russia's conflict in Ukraine. However, from early 2024 onwards it...

Reliance and Adani, two of India's largest conglomerates, are increasing their investments in?AI infrastructure and data. Reliance has committed about $110 billion while Adani has pledged $100 billion. Both companies want to establish India as a hub for AI. India offers tax breaks to foreign companies operating out of domestic data centres. It also takes measures to attract more AI talent. Mukesh Amani, chairman of Reliance Industries, said that cheaper computing would spur innovation. His company wants to apply the same strategy it used in 2016 to disrupt the telecom industry by slashing prices for data and expanding access. The...

This week, senior executives from artificial intelligence companies around the world joined world leaders for an AI summit in?India. Here is a list of the major deals that were struck during the India AI Impact Summit in New Delhi. JIO INVESTS $110 BILLION IN INDIA'S RELIANCE INDUSTRIES Mukesh Ambani, the billionaire chairman of Reliance Industries, said that Jio and Reliance Industries will invest $109.8 Billion over the next seven-year period to build artificial intelligence infrastructure and data infrastructure. INDIA'S ADANI GROUP WILL COMMIT $100 BILLION?FOR AI-DATA CENTRES THROUGHOUT 2030 Adani Group, a port-to-power company, announced on Tuesday that it would...

Three trading sources said that global oil firms and traders, including Vitol Trafigura, and TotalEnergies, won the tenders for supplying gasoline and diesel to Libya. The country is allowing large Western players greater access, and reducing imports of Russian petrol. Libya has been overhauling its oil industry for 15 years, following the fall of Muammar Gadhafi. The country produces 1.4 million barrels of crude oil a day, but does not have the refinery infrastructure necessary to process it. It is therefore dependent on fuel imports. Africa's second largest oil producer has changed the way it buys fuel and sells oil...

The administration of President Donald Trump announced on Tuesday that Japan would?finance three projects worth $36 billion, including an oil-export facility in Texas, a diamond plant in Georgia, and a natural-gas power plant in Ohio. Trump stated on Truth Social that the projects were part of Japan's $550 Billion U.S. Investment pledge, as part a trade agreement that reduced Trump's tariffs against Japanese imports by 15%. Trump gave very few details on the projects. In a statement, Commerce Secretary Howard Lutnick stated that the Portsmouth, Ohio, power plant would be the world's largest natural gas-fired generation facility with a capacity?9.2...

The Nigerian Dangote Group announced on Tuesday that it had signed a $400 million equipment deal with China’s Xuzhou?Machinery Group in order to accelerate the expansion of its oil refinery towards a planned 1.4 million barrels per day. The new equipment will support major construction projects in the refining industry, petrochemicals sector, agriculture, and infrastructure. Dangote stated that the XCMG contract would allow the company to purchase a?range of heavy-duty machines to complement the existing assets deployed to the?refinery?build-out which it expects to be completed within three years. Polypropylene production will increase from 900,000.00?tons to 2.4million tons annually as part...

A government source revealed that India was looking for new markets to export steel in the Middle East and Asia in order to offset the carbon tax imposed by the European Union in January. India, which is the second largest producer of crude iron and steel in the world, exports roughly two thirds of its output to Europe. The EU's Carbon Border adjustment Mechanism has put pressure on the flow of steel into Europe. Last week, Sandeep Poundrik, the Steel Secretary of India said that the government will have to take steps to support exports affected by Europe's Carbon Tax....

According to an IDX official and an analysis of publicly available data, nearly one third of the companies listed on 'the Indonesia Stock Exchange', including its largest listings, could be affected by capital markets reforms promised by Jakarta. This could potentially unleash over $11 billion of new share supply. Indonesia has announced a number of capital market reforms after index provider MSCI warned in late January that the country could be downgraded to frontier status by May due to the opacity on the market, which'may have enabled price manipulation. The plan includes a key component of raising the minimum level...

India has deepened its trade ties with Brazil, signing a pact on Saturday to increase cooperation in mining and minerals. The country is seeking to meet the rising demand for steel at home and to support capacity expansion as a result of a global race to secure raw materials. The agreement was signed by India's PM Narendra Modi, and Brazilian President Luiz inacio Lula Da Silva. Both men arrived in New Delhi this week on a three-day trip. Brazil has large reserves of minerals that are critical for steelmaking. It is one of the top producers of iron ore in...

The prices of copper, aluminium, and other base metals rose on Friday as the U.S. Supreme Court overturned sweeping tariffs that were imposed by President Donald Trump in accordance with a law meant to address national emergencies. London?Metal Exchange benchmark 3-month copper increased 0.8% to $12,917 per metric ton at 1720 GMT. It had previously reached $12,985.50, its highest level in a week. Aluminium also rose 1.2% to $3103.50. The ruling is "constructive" for base metals, as it reduces the near-term risk to global trade flows and demand. The upside will likely be limited, however, given that some sector-specific duties...

The Supreme Court of the United States ruled that the White House emergency tariffs were invalid. This was a victory for thousands of businesses. The refund process?has just begun. The court's decision could have a ripple effect on the global economy. It ruled that Donald Trump cannot use the 1977 International Emergency Economic Powers Act in order to levy a broad?tariff on imports. The corporate world spent months adapting to Trump's constantly-evolving policy on trade and his use of tariffs to advance his agenda. Not only to address trade issues, but also to act as a weapon against the policies...

Anglo American reported a $3.7billion loss on Friday, after another writedown of its diamonds business. The miner is pushing ahead with plans to shed its non-core assets as well as complete its merger with?Teck Resources. Anglo has wrapped up an uneven reporting season for London listed mining groups. This highlights the divergent fortunes of the industry as Antofagasta benefitted from rising copper prices, while other diversified peers suffered due to weaker markets in iron ore and diamonds. The company recorded a $2.3bn pre-tax impairment on its De Beers division, reducing carrying value from over $4bn to $2.3bn. Analysts' estimates of...

Australian shares eased Friday. Rio Tinto shares were the main drag, as they missed expectations due to their flat annual earnings. QBE Insurance, however, limited losses by 'beating profit estimates. By 2342 GMT, the?S&P/ASX 200 Index fell?0.2%?"to 9,069.1?points. The benchmark index rose by 0.9% on Friday. Anglo-Australian Rio Tinto fell as much as 4%. On Thursday, after-market hours the world's biggest iron ore producer posted a profit that was below estimates because of a weaker performance in?iron ore, but copper performed well. Gold stocks surged as bullion prices rose on overnight geopolitical tensions, resulting in a 0.4% rise for the...

Newmont beat Wall Street expectations for the fourth quarter profit, as a record rally boosted gold prices and offset lower production. The company also announced that it would spend $1.4 billion on developing assets acquired by its acquisition of Newcrest. After-market trading saw shares of the largest gold mining company in the world rise 2% to $127.96. In recent months, gold prices have reached multiple records, due to expectations of U.S. interest-rate reductions, increased geopolitical tensions, and economic uncertainty. The yellow metal's price averaged $4.135 per ounce during the last three quarters of 2025. This is up 56% compared to...

London's FTSE 100 fell from its record highs on Thursday as Rio Tinto shares dropped after the global mining company's earnings missed expectations. Meanwhile, simmering tensions between the U.S. and Iran kept investors wary. Blue-chip index dropped 0.5%, after two consecutive sessions of closing at record highs. The mid-cap FTSE 250, which is primarily focused on the domestic market, was down by 0.4%. Rio Tinto dropped 3.6% following the miner's?reporting flat annual earnings. Lower prices at its iron ore business, its mainstay, were offset by a strong performance?in its copper division. Other London-listed companies also fell as copper prices were...

Takahiko iwai, chief financial officer at Nippon Steel, said that the company does not see a need to reduce capacity at U.S. Steel. Instead, it expects this business to contribute a profit in fiscal 2026. This is up from zero last year. Iwai said in an interview that while?urgent? steps are necessary to improve the U.S. firm's high cost structure, similar capacity reductions to those implemented by Japan in the early 2020s is not needed because U.S. demand for steel is increasing. Iwai stated that "U.S. Steel has steadily improved through capital expenditure effects," adding that about 100 Nippon Steel...

Australian shares rose Thursday, after the top business lender, National Australia Bank led banks to record high levels after recording a higher profit a day earlier. Meanwhile, miners boosted overall gains as commodity prices trended upward. S&P/ASX 200?index?rose 0.8% at 2333 GMT and is now a little closer to its record high of 9,115.20. The benchmark index rose by 0.5% on Tuesday. After posting better quarterly profits, National Australia Bank extended its gains and reached?its highest level ever. The "Big Four" lenders were followed by the rest, who gained between 1.4% to 2.3%. The top lender Commonwealth Bank of Australia...

The price of copper rose on Wednesday after a drop to a low that was more than a week old. Investors bought the dip, and industrial metals prices followed a rebound in tech stocks. As of 1700 GMT the benchmark?copper price on?the London Metal Exchange had risen 2.2% to $12,893 per metric ton, having earlier climbed to $12,941. The metal fell 1.8% Tuesday, reaching its lowest level since February 6. Due to the Lunar New Year, traders in China, a major metals consumer, were mostly absent. Tom Price, a Panmure Liberum analyst, stated that traders "rarely leave significant capital on...

The Australian Environment Ministry announced on Wednesday that the U.S. aluminum company Alcoa would pay A$55,000,000 ($38.9,000,000) to remediate native forests it illegally removed in Western Australia?in order to mine bauxite. The payment is for nearly 2,100 hectares (5.190 acres) in Northern Jarrah Forest south of Perth that will be cleared without government approval between 2019 and 2025. The Ministry called this payment "unprecedented", as it was the largest ever made. It said that the money would be used to fund initiatives aimed at conservation, including programmes to protect endangered black cockatoos who nest in jarrah tree nests and improve...