Asia / Pacific

The U.S. House of Representatives approved legislation Thursday that would provide aid to Ukraine and impose sanctions on Russia. This is the latest indication that Republicans are willing to 'defy their party leaders' and retaliate against President Donald Trump. The House passed the Ukraine Support Act?226?to 195?, after months of waiting. The House voted?226?to 195 for the Ukraine Support Act, which had been pending on the floor of Congress for months. Thursday, Democrats and 18 Republicans joined forces with an independent who usually votes along side them to pass the legislation. This was the latest indication of a break in...

The U.S. House of Representatives approved legislation Thursday that would provide 'aid to Ukraine' and impose new Russian sanctions. This is the latest indication that Republicans are willing defy their party leaders and push back against President Donald Trump. The House passed the Ukraine Support Act 226-195. It had been pending for months. A few Republicans signed a petition with Democrats to force a vote. On Thursday, Democrats and 18 Republicans joined forces with one independent who usually votes along side them to pass the bill. This was the latest indication of a rift in the nearly unanimous support that...

According to shipping data, and analysts, Iranian crude oil exports and condensate fell to their lowest levels?in six years?in?May. They were well below 300,000. barrels per day. This was mainly because of the U.S. Naval Blockade. The U.S. started enforcing its blockade in April, which choked Iranian exports. This is because the oil market has been facing a shortage of supply due to the Iranian closure of the Strait of Hormuz, cutting off exports from Saudi Arabia. Vortexa data indicates that Iran's exports in May averaged around 209,000 bpd, down sharply from the 1.34 million in April and almost 1.9...

Residents in Gaza, Lebanon's south, northern Israel, and Kuwait have all been under fire in the past week, despite ceasefires that were supposedly in place in these regions, arranged by the United States. Israeli airstrikes struck Gaza and Lebanon. Israeli forces are still "actively" deployed in both locations. Hezbollah launched rockets at northern Israel and Iranians attacked Kuwait's airport. The violence has continued. The continued violence prompted?U.S. The three?truces that his administration negotiated were intended to?stop the war. While the major combat has been greatly reduced, munitions still fall and people still die. Here's how the ceasefires and fighting are...

Russian-controlled Crimea tightened rationing on?fuel supplies Thursday. It suspended all cash sales of gasoline, and issued a 'new coupon' to buy it. The peninsula is grappling with a shortage of fuel linked to Ukrainian drone attacks. In recent days, drivers in the Crimea region, which was annexed from Ukraine by Russia in 2014, faced long queues at gas stations after Kyiv's attacks restricted supplies from adjacent Russian-controlled territory in southeast Ukraine. Sergei Aksyonov - the Kremlin's appointed head of Crimea - announced the new measures, which tighten restrictions on petrol sales imposed a month ago. He said that the sale...

Brunei ruler announced major cabinet reshuffle Thursday. He created new key 'portfolios' and appointed two of his sons to ministerial positions, in a possible succession plan for the oil-rich tiny sultanate. This is the first reshuffle since 2022, and Brunei on the island of Borneo faces pressure from a global oil crisis sparked off by the U.S./Israeli war against Iran. The diamond jubilee of Sultan Hassanal Bolkiah - the longest-reigning monarch in the world who was crowned in 1967 – is also a year away. After undergoing knee surgery in January, the 79-year old, who has multiple roles in government...

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...

Investors flock to companies that are driving the AI boom, including gas engine manufacturer Innio. Innio, based in Munich, Germany, has a principal?shareholder - AI Alpine. The company is co-owned by Advent International, and Abu Dhabi Investment Authority. 90 million shares were sold at $27 per share, the highest price of the range indicated by the company. The listing comes against a favorable ?backdrop for AI infrastructure-linked firms, with investors flocking to companies powering the technology's buildout, from electrification ?to supply chain for data centers. Innio will be one of several companies, ranging from software to insurance, that list in...

?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....

U.S. president Donald Trump stated that Iran had agreed to?not have a nuclear weapons?and he will probably meet Supreme Leader Mojtaba?Khamenei at a certain point if "things work?out". In an interview that aired on Wednesday, Trump said about Iran: "They have already?agreed to not have a nuclear weapons." When asked about Khamenei?s involvement in the talks with the U.S. on ending hostilities Trump replied, "He is absolutely involved." ... "I think they have great respect for him." Trump claimed that he heard the Iranian leader saying?not too well' but giving his approval to the negotiations. Trump said that he did...

Wild swings in stock prices could indicate a market that is in its final stages of a speculative frenzy. Wall Street's fear gauge is dozing. It may take some good news to get it moving again. The AI boom is accelerating and attracting more and more tech and chip names from around the world. Even companies with a market cap of more than $200 billion have seen a 20% to 30% one-day increase. Dell's stock soared by 32% after its disastrous results on Friday. Hewlett Packard Enterprise soared 28% Tuesday after its own earnings report. Marvell Technology gained 25 percent...

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...

Gold prices dropped on Friday and were set to?for an overall loss? as tensions in Middle 'East tempered?hopes of a U.S. - Iran peace deal amid fears about rising inflation and rate hikes. As of 0548 GMT, spot gold was down by 0.6%, at $4,445.51 an ounce. The price of gold has dropped about 2% in the last week. U.S. Gold Futures for August Delivery fell by 0.7% to $4471.70. Israel has said that it will not withdraw its troops from Lebanon, despite the rejection of a ceasefire by Hezbollah's?militia. This undermines President Donald Trump’s efforts to stop fighting in...

Gold demand in India was subdued as buyers were on the sidelines because of?volatile overseas prices. Premiums?in China also eased slightly. On Friday, the price of domestic gold was around 158.400 rupees for 10 grams. Dealers quoted discounts This week you can save up to $87 per ounce on official domestic prices, including 15% import duty and 3% sales tax. Last week, you could save up to $106 per ounce. The wedding season is coming to an end. The retail demand is continuing to moderate and jewellery stores are reporting lower footfall in the country, said a Mumbai bullion dealer...

South Korean stocks plunged on Friday, and are headed for the steepest weekly decline since 'late March. A global retrenchment in technology and the stalled U.S. Iran?peace negotiations?have severely impacted investor risk appetite. The Korean won fell to its lowest level against the US dollar since 2009. Bond yields also spiked. This prompted government officials, including Finance Minister Koo Yun Cheol, to issue a verbal warning about speculative bets. Broadcom's disappointing results on Wall Street sent semiconductor stocks tumbling. Investors who bet heavily on the demand for Broadcom's custom AI chips were disappointed. The Philadelphia semiconductor index fell 2.2%. KOSPI,...

The price of copper was expected to rise despite the?drop on Friday. Tighter supplies and a?bullish mood helped to offset macroeconomic worries related to?the Iran War and inflation. Benchmark three-month Copper on the?London Metal Exchange fell 1.23% at $13,761 per metric ton as of 0300 GMT. This still represents a 0.8% rise for the week. The Shanghai Futures Exchange's most active copper contract fell 0.39%, to 105230 yuan (15,529.81 dollars) per ton. Daniel Hynes is a senior commodity strategist at ANZ. He wrote a note Friday that copper has shown?resilience to macroeconomic headwinds. "Structurally driven demand offsets cyclical weaknesses," he...

Gold prices dropped on Friday and were set to suffer a weekly loss as tensions in the Middle East dampened expectations for a U.S. Iran peace deal, amid fears of rising inflation rates and interest rate hikes. As of 0402 GMT, spot gold was down by 0.7%, at $4,442.94 an ounce. It is down about 2% this week. U.S. Gold Futures for August Delivery?fell by 0.8% to $4469.10. Hezbollah, a militia backed by Iran, rejected a ceasefire in Lebanon. Israel also said it would not withdraw its troops from Lebanon. This undermined the efforts of U.S. president Donald Trump to...

Gold prices dropped on Friday and were set to suffer a weekly loss as tensions in the Middle East tempered hopes of a U.S. Iran peace deal, amid fears about rising inflation rates and interest rate hikes. As of 0225 GMT, spot gold was down by 0.5%, at $4,452.20 an ounce. It is down about 1.8% this week. U.S. Gold Futures for August Delivery fell?0.6% at $4,478.50. Hezbollah, a militia backed by Iran, rejected a ceasefire in Lebanon. Israel also said it would not withdraw its troops from Lebanon. This undermined the efforts of U.S. president Donald Trump to stop...

The price of iron ore continued to fall on Friday, and was'set for a fourth consecutive weekly loss' as falling margins at steelmakers in China, the top steel-making consumer, curbed demand for this?key ingredient. By 0245 GMT, the most traded iron ore contract at China's Dalian Commodity Exchange(DCE) had fallen 0.95%, to 766 Yuan ($113.05), a metric tonne, and has lost 2.1% for the week. Earlier in the session, the contract reached its lowest level since 15 April? at 760.5 Yuan. As of 0235 GMT the benchmark July iron ore traded on?the Singapore Exchange remained unchanged at $101.5 per ton....

Gold prices rose more than 1% on Thursday, as oil prices fell due to optimism about a possible end to the Iran Conflict. This led to a fall in bond yields and a pressure on the dollar. As of 11:50 am EDT (1550GMT), spot gold was up by 1% to $4,474.07 an ounce. U.S. Gold Futures for August Delivery gained 0.8%, to $4$4,501.90. Independent metals trader Tai Wong says that reports of a ceasefire agreement between?Israel? and Lebanon? have pushed the dollar and bond yields up, allowing gold to hold above?the 200-day moving aver?, which is an important indicator. Israel...

Gold prices rose more than 1% on Thursday, as oil prices fell due to optimism about a possible end to the Iran Conflict. This led to a fall in bond yields and pressured the dollar. As of 9:05 am EDT (1305 GMT), spot gold was up by 1.7% to $4,505.35 an ounce. U.S. Gold futures for August delivered gained 1.5%, to $4,532.80. The dollar and bond yields have been pushed up by reports of a?deal for a ceasefire between Israel and Lebanon, according to independent metals trader Tai Wong. This has helped gold hold just above the 200-day moving averge....

Gold prices rose Thursday as hopes for a resolution to the Middle East conflict led to a drop in oil and dollar prices, which eased fears of inflation and rate hikes. As of 1156 GMT, spot gold rose 1.7% to $4,506.19 an ounce. U.S. gold for August delivery rose 1.5% to $4533.60. Dollar eased making greenback bullion prices more affordable for holders other currencies. The Trump administration announced on Wednesday that Israel and Lebanon had agreed to implement a truce to end hostilities. This boosted?hopes of a broader agreement to end the U.S. - Israeli war against Iran. The Republican-led...

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...