Asia / Pacific

These are the most popular stories from the Wall Street Journal. The Wall Street Journal has not verified these stories and cannot vouch for their accuracy. Donald Trump, the U.S. president, is planning to dominate Venezuela's oil industry in years to come. He told his aides that he believed his efforts would help lower oil prices at his preferred level of $50 per barrel. JPMorgan Chase and Goldman Sachs have reached an agreement to?take over the Apple credit card program. Warner Bros. Discovery advised its shareholders to reject Paramount’s amended hostile offer for the company. Discovery argued that its existing...

Lebanese Army said that they had achieved their goal of a monopoly on arms in the south. They said this was done in an "effective" and tangible manner. However, there is still more work to do to remove unexploded ordnances and tunnels from the area. The army set a deadline of year's end to remove?non state weaponry? from the southern Lebanon bordering Israel before moving to other areas. It claimed to have extended its operational control over the southern areas, except those still occupied with Israeli troops. The statement did not mention the Lebanese Hezbollah armed group, which fought an...

After taking office, U.S. president Donald Trump continues to criticize and take action against corporate executives, institutions and corporations. His actions, from innovative export deals to freezing university grants, have upended the status-quo between government, law and academia. Trump has publicly attacked a number of influential individuals and entities. HILTON WORLDWIDE HOLDINGS Hilton has removed a Minneapolis-area hotel from its system after a Department of Homeland Security posted on X that the hotel operator had "impeded" law enforcement by refusing to accept bookings for Immigration and Customs Enforcement (ICE) agents. "We will remove this hotel immediately from our system." Hilton...

The Financial Times reported that the U.S. oil giant Chevron, along with private equity group Quantum Energy Partners, are teaming up to bid on the international assets of Russian oil company Lukoil, valued at $22 Billion. Chevron's exploration and production portfolio is diverse, globally. The company continues to evaluate potential opportunities. "In all of its activities, Chevron adheres to a code of ethics for business and follows?laws that are applicable to our business." Quantum, Lukoil, and the White House didn't immediately respond to comments. Reports in November said that Chevron was examining options to purchase Lukoil’s global assets. This would...

Aidarous al Zubiaidi, leader of Yemen's Southern Transitional Council, did not board the plane that was supposed to take him to Riyadh and instead fled to an unknown destination. The Saudi-backed coalition said this on Wednesday. The remarks were made amid efforts to stop fighting between the STC - backed by United Arab Emirates - and Yemen's internationally recognised Saudi government. This has caused a major dispute between the Gulf allies. Zubaidi had planned to visit Saudi Arabia just days after the Yemeni government claimed it asked Riyadh for a forum to discuss southern issues. Turki Al-Maliki, spokesperson for the...

Reliance Industries, HDFC Bank and other heavyweight stocks weighed on the Indian equity benchmarks, which fell from near-record highs Tuesday. Quarterly business updates also influenced stock movements. The Nifty 50 dropped?0.27% at 26,178.7, and the Sensex fell 0.44% at 85,063.34. In two sessions, the indexes have fallen by 0.6% and 0.8%. Ten of 16 major sectors rose. The small-caps and the mid-caps both fell by 0.2%. Reliance Industries' stock, which is the second-heaviest on the benchmarks index, fell 4.5%. This was its steepest percentage drop in a single day since the announcement of the general election results for India, June...

The?Italian?government and Pirelli, the?tiremaker, are looking at new ways to stop Sinochem from investing in the?company based in Milan. This is due to pressure coming from?the United States. The Financial Times reported Tuesday that the United States was exerting pressure on Pirelli. Camfina, Pirelli's Italian-American investor, had complained earlier that Sinochem was preventing the tyremaker from expanding in the U.S. as Washington tightens restrictions on Chinese technology for the automotive industry. According to LSEG 'data, Sinochem is Pirelli’s?largest shareholder with a stake in the company of approximately 34.1%. Rome is considering a new intervention, as Washington's upcoming ban on Chinese-backed...

The oil prices dropped on Tuesday as the market anticipated a large global supply in the face of a weak demand and weighed the possibility of a higher Venezuelan crude production following the capture of President Nicolas Maduro by the U.S. Brent crude futures dropped?0.2% or 14 cents to $61.62 a barge by 0450 GMT, while U.S. West Texas Intermediate Crude was at $58.13 a barge, down 0.3%, or 19 cents. Priyanka sachdeva, senior analyst at Phillip Nova, said that the response of oil prices to major geopolitical issues, like the U.S. action in Venezuela or the ongoing strikes against...

The Dow Jones Industrial Average reached a new high on Tuesday as oil companies and financials gained. The U.S. oil industry got a boost after the military raid that took place in the U.S. over the weekend, which captured Venezuelan president Nicolas Maduro. Crude oil fell back $1 per barrel after it rose overnight as traders assessed possible impacts on crude oil flows from Venezuela. Venezuela is home to the largest oil reserves in the world. The events have had a limited impact on the risk sentiment. Equities are driven by momentum, while currencies are based on macroeconomic data. The...

Indian shares dropped on Tuesday. The 'heavyweight stocks HDFC Bank, and Reliance Industries were the main culprits. This was a day after the?Nifty 50 index retreated to record highs. The Sensex fell 0.21% as of 9:54 a.m. IST, and the?Nifty50 dropped 0.1% to 26231.40. Seven out of 16 major sectors fell. The small- and mid-caps both rose by 0.2% and 0.1% respectively. HDFC Bank, Reliance Industries and other major stocks in the benchmark indexes fell 1.6% and 3.3% respectively. Reliance denied a Bloomberg report that three vessels carrying Russian crude oil were heading to its Jamnagar refining facility. Reliance's move...

India's equity benchmarks started Tuesday slightly lower, led by HDFC Bank and Reliance Industries, as investors booked profits near record highs. However, optimism about an earnings improvement before the results season persisted. The Nifty 50 dropped 0.23% to 26189.7. As of 9:15 a.m. IST, the Sensex was trading 0.13% lower at 85,331.14. The gains in nine of the 16 major sectors were marginal. The small-caps, mid-caps, and broader indexes all rose by 0.4% and 0.1% respectively. HDFC Bank and Reliance Industries - the two heaviest stocks on the benchmark index - each lost 2%. The Nifty 50 reached a record...

Oil prices fell on Monday, as global supplies were plentiful and offset concerns about the impact of U.S. capture President Nicolas Maduro in Venezuela, the country with the largest global oil reserves. Brent crude futures fell 23 cents or 0.4% to $60.52 a barrel at 0940 GMT. U.S. West Texas Intermediate was 21 cents or 0.4% lower at $57.11 a 'barrel. Investors reacted to the Venezuela situation, an OPEC country whose crude exports have been subject to a U.S. ban, and assessed its potential impact on the oil supply. Donald Trump, the U.S. president, said that Washington would take over...

AustralianSuper, BlueScope Steel's largest shareholder, said that a $9 billion takeover bid from SGH & Steel Dynamics in the U.S. undervalued the company and it supported its decision to reject this offer. After announcing its increase from 12.5% on Thursday, the pension fund now holds 13.52% in BlueScope. BlueScope, which rejected the SGH Steel Dynamics offer of?A$30 a share on Wednesday, said that it was "significantly undervalued" and accused the acquirers for trying to purchase BlueScope 'on the cheap. AustralianSuper's spokesperson stated that "we?support the BlueScope Board's decision to?reject?the offer" and to'remain focused' on executing the strategy of the company...

BlueScope Steel’s largest investor, AustralianSuper said on Friday that it supported the Australian company's decision to reject a $9 billion offer from U.S.-based Steel Dynamics and?SGH?. After announcing its increase in stake on Thursday, the pension fund now holds 13.52 % of BlueScope. BlueScope rejected the $A30 offer from?SGH & Steel Dynamics on Wednesday, saying that it was "very significantly undervalued". The company also accused the acquirers of trying to buy BlueScope 'on the cheap. AustralianSuper's spokesperson stated that "we support the BlueScope Board's decision to reject the offer and remain focused on executing the company's strategy, without distraction." The...

China's Industry?Ministry said Thursday that it has urged a battery manufacturer to optimise the industry capacity and?mitigate overcapacity risks. According to the readout from a meeting posted on Wechat on Wednesday, the ministry stressed the need for market regulation and enhanced supervision in the electric vehicle and battery storage sectors. China Daily, citing sources, reported that 16 companies, including top battery manufacturers, were present. According to the report, energy storage system integrators Beijing HyperStrong Technology and Zhuzhou CRRC Times Electric, as well as Trina Solar – a leading solar manufacturer – were also present. The state planner, the?industry minister and...

Gold prices fell on Thursday, as investors prepared for futures sales?linked?to? a commodity index reshuffle. A stronger U.S. Dollar added pressure to the price of gold by making it more expensive for overseas buyers. As of 0921 GMT, spot gold dropped 0.6% to $4.427.28 per ounce. U.S. Gold Futures for February Delivery fell 0.6% to $4435.40. "Gold and Silver remain under pressure, as the annual commodity index rebalancing begins. In the next five business days, COMEX metal futures may see sales in the region of $6-$7 billion. This is according to Ole Hansen of Saxo Bank, who heads commodity strategy....

Iron ore futures fell on Thursday, after a four session rally. Investors booked profits due to fears of a possible government intervention in China, the top consumer. Prices were nearing the psychologically important level of $100 per metric tonne. The May contract for iron ore on China's Dalian Commodity Exchange ended the daytime trading session down by 0.37% to 813 yuan (116.42 dollars) per ton, after reaching 831.5 earlier in the morning, the highest price since July 22, 2025. The benchmark February Iron Ore on the Singapore Exchange fell by 1.05% at 0715 GMT to $107.9?a ton after reaching its...

Gold prices fell on Thursday, as a strong dollar weighed on investors. They were preparing for a major U.S. employment report due later this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.4% to $4435.62 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.4% to $4444.40. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near its...

Gold prices fell on Thursday as a result of a strong dollar. Investors were preparing for the release of a key U.S. employment report this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.7% to $4423.20 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.7% to $4432.0. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near...

Energy and Mineral Resources Minister Bahlil lahadalia stated on Thursday that Indonesia could approve a coal production quota "more or less",?600 millions metric tons, in 2026. The nickel quota will be adjusted according to the needs of industry. The output quota will be lower than 790 million tonnes produced last year. However, the actual production of the world's largest thermal coal exporter is often higher than the quota. The government must approve all annual production plans, also known as RKABs, submitted by miners to the country's mineral-rich Indonesia. Bahlil stated that the reduction in quotas was to?support prices of Indonesian...

Australian shares were up slightly on Thursday as gains in healthcare and banking stocks offset a fall in mining stocks. This comes a day after mixed data about inflation left the central banks' monetary policy uncertain. S&P/ASX 200 Index?edged?up?0.1% to 8,707.50 at 0012 GMT. The benchmark index rose by 0.2% on Tuesday. The Reserve Bank of Australia has set a target range of 2%-3% for core inflation. However, the data released on Wednesday shows that consumer prices increased 3.4% from a month earlier in November. This is slower than the alarmingly high rate of 3.8% seen in October. RBA already...

BlueScope Steel shares were down by 2% on early Thursday trading after the company turned down an A$13.2 Billion ($8.87 Billion) takeover bid from Australian conglomerate SGH and U.S. based Steel Dynamics. BlueScope's shares were trading slightly below the A$30 per share cash offer, which indicates investors believe a deal can still be struck despite the official rejection by the board. SGH shares traded 0.7% lower on Thursday after BlueScope stated that the offer "significantly undervalued" SGH after trading closed Wednesday. Steel Dynamics shares ended Wednesday's U.S. trade 2.8% lower. Macquarie analysts predicted that the takeover fight would continue. They...

De Beers' CEO,?Tony?Taylor, said that Anglo American is looking to sell its stake in De Beers and has received interest from business groups as well as African governments. Al Cook, CEO of De Beers said that Botswana Angola Namibia, all of which are major diamond producers, have shown an interest in purchasing equity in the company. He did not comment on the current status of the talks or who the parties were. In June, it was reported, citing reliable sources, that Anil 'Agarwal and Indian diamond groups, as well as Qatari investment funds, were among the people who had expressed...

Allegro, a Polish ecommerce company, announced on Wednesday that it has agreed to sell its operations in Slovenia and Croatia?to Mutares of Germany. Allegro is aiming to simplify?its global footprint. Allegro claimed that the sale was the last step to turning around Mall Group. The group bought the company in 2022 as a first move beyond its home market Poland. Allegro expanded its presence in Central Europe with the deal, but so far international operations have weighed on its profitability. Allegro announced in March that it would pause the rollout of its third-party market in other countries until it increased...