Asia / Pacific

Authorities?said Tuesday that a fire was caused by debris from a drone at an oil depot located in southern Krasnodar, Russia. They also?closed the local road linking the area with the Crimean Peninsula. The fire that broke out at the oil depot in the Poltavskaya region?of Krasnodar was not fatal, according to a telegram message from the regional authorities. The authorities said that they had closed a local route connecting the area to a regional road leading to a?bridge over the Kerch Strait? linking Crimea with the Krasnodar Region, which was built by Moscow following the annexation. The bridge is...

?U.S. Vice President JDVance stated on Monday that he hoped the text of an agreement to halt the war in Iran and reopen the 'Strait Of Hormuz would be released this coming week. Further negotiations regarding the details of the deal were scheduled to continue. Vance said in an interview with CNBC that the United States expected the waterway to be open for a long time without tolls. He said, "Our expectation is the Strait?is?going to be opened toll-free for the long term." This is the kind of thing we will figure out during these technical negotiations. You know there...

Indian shares closed higher Monday as they followed a global rally. Oil prices fell after the U.S. announced that it and Iran had reached a preliminary 'agreement' to end the conflict and resume traffic along the Strait of Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that two parties will sign a Memorandum of Understanding in Switzerland this Friday. Investors can now find comfort in the fact that Iran's war is nearing its end, according to Gaurav Bhandari. Chief executive officer of Monarch Networth Capital. The benchmark Nifty?50 index rose 0.98%, to...

Kommersant reported that the Russian government had authorized a few oil refineries to produce fuels at lower environmental standards for the domestic market. This is because the country has been experiencing fuel supply disruptions. According to data collected by, media reports and social media posts have indicated that there are supply disruptions in Russia in a dozen different regions. Only two regions of Siberia, besides the Russian-held Crimea have formally?confirmed these disruptions. Last week, Deputy Prime Minister Alexander Novak requested fuel market forecasts in order to avoid problems with fuel distribution and meet domestic demand. Ukraine has been targeting Russian...

Indian shares rose on Monday as they tracked a?global rally. Oil prices fell after the U.S. announced that it had reached an initial agreement with Iran to end the?war? and resume?traffic through?the Strait?of Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that the countries would sign a Memorandum of Understanding in Switzerland this Friday. As of 10:02 am IST, the benchmark Nifty 50 index was up 1.45% to 23,964 while the BSE Sensex?added a further 1.54% to reach 76,679.37. Brent crude fell 4.7%, to $83 per barrel, its lowest price since March....

Indian shares rose on Monday, following a global rally. Oil prices fell after the U.S. announced that an initial agreement had been reached between the U.S., Iran, and the United Nations to end the war, and resume 'traffic' through the Strait of Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that the countries would sign a Memorandum of Understanding in Switzerland this Friday. As of 9:43 a.m. IST, the benchmark Nifty 50 index was up 1.39% to 23,954, while the BSE Sensex gained 1.43%, reaching 76,605.4. Brent crude fell 4.7%, to $83...

Indian shares rose a little higher at the opening of trading on Monday. They were following a global rally as oil prices fell after U.S. President Donald 'Trump'?and Iran’s deputy foreign minister announced an initial agreement to end the conflict and resume traffic in the Strait of Hormuz. Shehbaz Sherif, Pakistani Prime Minister, who served as the'mediator in these negotiations, announced that on Friday they will sign a Memorandum of Understanding in Switzerland. As of 9:15 a.m., the benchmark Nifty rose by 1.53% to 23984.85, and?the BSE Sensex increased by 1.59% to 76,725.27. IST. The Nifty and Sensex gained about...

Indian shares will open higher on Monday as they track a global rally. Oil prices, however, have fallen after U.S. president Donald Trump?and Iran’s deputy foreign minister announced an initial agreement to end the war and resume traffic through Strait of?Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that the countries would sign a Memorandum of Understanding in Switzerland this Friday. As of 7:38 am IST, the GIFT Nifty Futures were trading at 23983.5. This means that Nifty 50 will open 1.5% above Friday's closing price of 23,622.90. The Nifty and BSE...

A senior U.S. official stated on Friday that the United States and Iran are close to signing a deal. Washington is expecting to sign the deal within days. The U.S. official told reporters that the team had put them in a good position, but they were not yet at the finish line. The official stated that the agreed terms accomplish President Donald 'Trump's main objectives and put the U.S. in a "very, very good position" at the end. According to the official, the terms of this so-called "memorandum of agreement" include the reopening of the Strait of Hormuz as well...

SpaceX jumped more than 20% on its Nasdaq debut, bringing its valuation up to $2 trillion. Investors piled in to the world's biggest IPO on Friday and?betted on Elon Musk’s sprawling empire spanning from rockets to ai. Stocks opened trading at $150 compared to the IPO price per share of $135. It was last trading at $164 and is the sixth-largest U.S. firm by market value. Bankers warned that the IPO market could be affected if SpaceX's shares close below the Thursday pricing level. Market participants are watching the company's debut as a rehearsal for the next generation of mega-listings....

SpaceX's stock market debut was on Friday. Investors backed Elon Musk's vision of an empire spanning from reusable rockets to orbital artificial intelligence at a valuation among the world's largest. Here's a?timeline for SpaceX to its blockbuster IPO. Elon Musk launches SpaceX in March 2002, using the money he earned from selling PayPal. March 2006: SpaceX launches its first rocket, Falcon 1, but it fails. Falcon 1 launched successfully in September 2008 and became the first liquid-fuel rocket developed by private industry to reach Earth orbit. SpaceX signs its first major contract in December 2008 with NASA for the transportation...

The 'Russian Government' said late on Thursday that Alexander Novak, Russian Deputy Premier Minister, called for a system of forecasts to protect against fuel distribution problems and meet domestic demand. According to a statement posted on the website of the government, Novak requested the creation a forecasting model following a cabinet meeting that took place late in the evening. The statement stated that "Alexander Novak gave instructions to create a forecast model of the development of the fuel markets on a regional basis, including a'most detailed breakdown of every possible parameter. The system, it was said, would allow bottlenecks to...

Gold prices rose for the third straight session on Monday. They reached a high of?nearly one week after Iran and United States agreed that their war would be halted. This agreement eased expectations about higher interest rates. Gold spot rose 3%, to $4,344.77 an ounce at 08:42 am EDT (1242 GMT), reaching its highest level since the 9th of June. U.S. Gold Futures? climbed 3% to 4,366.80. The U.S. Dollar Index was down by 0.2% making metals priced in greenbacks more affordable to holders of other currencies. The deal, while still in its framework stage, was the most significant breakthrough....

On Monday, aluminium prices dropped to their lowest levels in?two and a half months as a U.S. - Iran framework agreement aimed at ending their war improved prospects of deliveries from Gulf -producers. However, shippers remained cautious about transiting through 'the strait of Hormuz. By 1120 GMT the benchmark three-month aluminum on the London Metal Exchange had fallen 3.2% to $3,422.50 per metric ton, after having reached $3,408, which was its lowest level since March 30. U.S. officials and Iranian officials announced that they had reached a preliminary agreement to end the war and reopen the Strait of Hormuz. The...

Energy Transition Minerals hopes to expand in Spain's Galicia Province as it waits for a resolution of the?legal challenges regarding its massive rare earths project on Greenland. Daniel Mamadou said in an interview with? In an interview, Daniel Mamadou told? Mamadou stated that "Galicia has an ambitious plan to revive its mining industry." He added that up to 52 mines will be put out to tender for development. "We think that the Penouta operation can be at the heart of an expansion of Galicia... We might be able to?benefit from economies of size and position." ETM has not provided any...

On Monday, gold prices reached a near-week-high as a tentative peace deal between the?U.S. Oil prices fell as a result of the Iran deal, which also eased concerns about a rate hike by the U.S. Federal Reserve. As of 0857 GMT spot gold was up 2.7% at $4,334.48 an ounce. This is its highest price since June 9. U.S. Gold Futures for August Delivery climbed 2.8%, to $4355.30. U.S. officials and Iranian officials announced that they had reached an agreement to end the war and reopen Strait of Hormuz. This preliminary pact sent oil prices down but left the fate...

The Wall Street Journal, citing an individual familiar with the situation, reported that Australia's richest person, mining baron Gina Rinehart has invested a total of more than $1 billion into the $75 billion SpaceX record-breaking IPO. Hancock Prospecting, Rinehart's company, did not confirm the size of their'stake' in Elon Musk SpaceX. She said, however, in a press release: "This investment is significant for Hancock and we are happy to have received a allocation in an IPO that has been extremely popular and well oversubscribed." She praised Musk because he built two of the top 10 companies in the world. "We...

Gold rose by more than 2% on Monday, after U.S. officials and Iranian officials announced that they had reached a preliminary agreement to end the war. This lowered oil prices and eased concerns about inflation and rising interest rates. By 0536 GMT the spot gold price had risen 2.5%, to $4,323.29 an ounce, its highest since June 9, and extended gains for a 3rd straight session. U.S. Gold Futures for August Delivery rose?2.5% at $4,343.80. U.S. officials and Iranian officials announced on Sunday that they had reached an agreement on a framework for ending their war, stopping the U.S.'s blockade...

Gold prices rose by more than 2% after U.S. officials and Iranian officials announced that they had reached a preliminary agreement to end the war. This lowered oil prices and eased concerns about inflation and rising interest rates. Gold spot rose 2.5%, to $4,322.87 an ounce, by 0312 GMT. This was its highest level since the 9th of June and extended gains for a 3rd straight session. U.S. Gold Futures for August?delivery increased 2.5% to $4344.80. U.S. officials and Iranian officials announced on Sunday that they had reached an agreement on a framework for ending?their conflict, stopping the U.S.-led blockade...

Singapore is establishing an over-the counter gold clearing system and introducing central bank gold vaulting services. This comes as the city state looks to establish itself as a gold trading hub. Gan Kim Yong, the Deputy Prime Minister, told the Asia-Pacific Precious Metals conference on Monday that the Singapore Exchange will?establish a gold clearing system over-the-counter for Loco Singapore or physical gold in Singapore by the end this year. He said that six banks will be clearing members: DBS, Deutsche Bank ICBC Standard Bank J.P. Morgan OCBC, UOB. Gan stated that the Monetary Authority of Singapore (MAS) will offer central...

Gold prices rose by more than 1% on Monday after U.S. officials and Iranian officials announced they had reached an agreement to end their conflict. This lowered oil prices and eased concerns about inflation and rising interest rates. As of 0010 GMT spot gold rose 1.8% to $4,297.42 an ounce. This is its highest level since the 9th of June. U.S. Gold Futures for August Delivery rose 1.9% to $4,318.10. U.S. officials and Iranian officials announced on Sunday that they had reached an agreement?on the framework of a peace deal to end their conflict, stop?the U.S. Blockade of Iran, and...

The expectation of U.S. tightening of monetary policy and the strength in the dollar has taken some wind out?of a "perfect storm" that was driving an upswing?in gold prices since 2023. Prices are now vulnerable?around $4,000/ounce, as interest rates unfold. Gold's reversal raised questions about the durability of its record-breaking rally, even though geopolitical risks, fiscal deficits, and central bank purchases continue to support bullion in the long-term. The spot gold price has dropped 25% after hitting a record of $5,595 back in January. This is because the Iran War sparked a rally in oil prices and increased bets for...

India's Chief Economic Adviser V. Anantha Nageswaran stated on Friday that the case for changes to capital gains tax on equities was weaker than bonds. This suggests that the government does not see a need to make further adjustments to its tax regime. India exempted institutional foreign investors from capital gains taxes on government securities last week. The move was made to attract more "capital" at a moment when foreign equity outflows are surging, oil prices are high, and the currency is under pressure. South Asia is the third largest oil consumer and importer in the world. It ships about...

According to a notice received by?on Saturday, Norsk Hydro declared a second case of force majeure for?aluminum sales from Qatar. This was after the Qatalum joint-venture?had unexpectedly terminated its marketing agreement with Norsk Hydro. Hydro, which holds a?50%?share in the Qatalum project, which produces 648,000 metric tonnes per year, along with Qatar Aluminum Manufacturing Co, also known as Qamco issued a force majeure order in early March, after the Middle East war interrupted the gas supply to the plant and Qatalum began a shutdown. The?force majeure clause - which exempts parties from any liability in the event of a failure...