Asia / Pacific

The U.S. must intervene more aggressively to stop a Syrian offensive which has gained key territory from Kurdish militants in the past few days, according to the leader of 'the main kurdish forces. Officials and security sources reported that government troops launched an offensive Saturday in territory controlled by semi-autonomous Kurdish authority for the past decade. They captured towns on both side of the Euphrates as well as the largest oilfield as well as a gas field. Sipan Hamo, commander of the People's Protection Units(YPG), said that a meeting held on Saturday between U.S. envoy Tom Barrack (and Kurdish officials)...

Two financial sources and a market analyst reported that four Venezuelan banks received a notification this week from the country's government that it would split $300 million in oil revenue deposited into an account in Qatar. This will allow them to sell dollars for Venezuelan companies who need foreign currency to pay materials. The U.S. seizes Venezuelan oil tanks and hits the country's main revenue stream. Venezuelan companies that need to import raw materials are forced to exchange their local bolivars, which they have earned through oil sales or transactions with foreign credit cards in the country, for dollars held...

Two financial sources and a market analyst reported that four Venezuelan 'banks' were informed this week that they would split $300 million of oil revenue deposited on a Qatari account. This will allow them to sell dollars to Venezuelan companies who need foreign currency to pay for material. This injection of foreign money comes after the U.S. seizes Venezuelan oil tanks and hits the country's main revenue stream. Venezuelan companies that need to import raw materials are forced to convert their local?bolivars into dollars, which the central bank holds. These dollars were generated through oil sales and transactions with foreign...

Vitali Klitschko, the mayor of Kyiv, said that Ukraine's capital Kyiv only has about?half as much electricity as it needs?as it is facing its worst wartime energy crisis after waves of Russian attacks against its infrastructure. Klitschko stated that Kyiv is one of Eastern Europe’s largest cities and requires 1,700 Megawatts to power its services for 3.6 million residents. Klitschko stated that the current energy crisis is the greatest challenge the capital has faced in the almost?four years following the Russian invasion of February 2022. In an interview at his office in the heart of Kyiv, Klitschko, the former heavyweight...

Coal India, which is focused on coking coal, has been scouting for partnership opportunities to mine rare-earth metals in?Australia and Russia as well as Argentina, Chile, and several African nations, said a senior?executive from its unit. This move follows China's decision to restrict exports of rare-earth materials late last year. The restrictions threaten operations in industries such as autos and electronics, which rely on these?critical minerals. "In our own country as well as in other countries, we will?invest. We are going explore. We are also working with other companies to find rare earth metals. Manoj Kumar Agarwal, Chairman and Managing...

MUMBAI - The Indian government approved a reduction in the percentage of shares that large companies seeking to list are required to sell. This has been reduced from 5% to 2.5%. SEBI chair Tuhin Kanta Pandey stated that the Securities and Exchange Board of India has also agreed to a settlement in principle with the National Stock Exchange to resolve a legal dispute which had delayed?the NSE’s initial public offer. Last year, the regulator halved minimum IPO floats for large companies. Companies valued at more than?5 trillion (57 billion dollars) could sell only 2.5% of paid-up capital after their listing....

China has praised the visit by Canadian Prime Minister Mark Carney to Beijing on Thursday, calling it a "pivotal step" in efforts to recalibrate relations following months of intensive re-engagement. The remarks by China's top diplomat Wang Yi came during a meeting between Carney and his Canadian counterpart Anita Anand. Anita is a member of Carney's delegation on this first visit to Canada since 2017. Wang stated that this was the first time in eight years that the Canadian Prime Minister had visited China. This is a landmark and pivotal moment for our bilateral relationship. Wang said that China was...

OPEC said on Wednesday that world oil demand will rise at a comparable pace in 2027 to this year. They also published data showing a close balance between supply and consumption in 2026. This is in contrast with other forecasts which predicted a glut. The Organization of the Petroleum Exporting Countries (OPEC) believes that the oil demand in 2027 will increase at a robust rate and that the transition to cleaner fuels is likely to be slower than other predictions. OPEC said that it expects the oil demand to increase by 1,34 million barrels a day in '2027. This is...

TotalEnergies, the French oil giant, announced on Wednesday that it had?formed BxT Trading a joint venture with Bahrain's Bapco Energies. The Middle East-focused venture is expected to trade products from Bapco’s Sitra refinery, which produces 267,000 barrels per day. The partnership builds upon a 2024 agreement?underwhich Total agreed to expand and modernise the?Sitra refinery to reach a throughput capacity 380,000 barrels per d?ay and to share its trading expertise. It also explored options to partner with Bahrain in projects involving renewable energy and liquefied gas. Bapco announced in December a new increase of capacity to 405,000 bpd. In a recent...

By America Hernandez PARIS, January '14 - French giant TotalEnergies signed an agreement to sell its 10% non-operated stake in the Nigerian oil asset SPDC (renamed Renaissance JV) to Vaaris. This follows a failed sale to Mauritius based Chappal Energies last year. Total retains a 'full economic interest in the?deal, which includes stakes of three other licenses that produce mainly?gases for Nigeria LNG. The company did not provide any further information on the buyer. The inability of the buyer to pay the $860 million price tag was the reason why Nigerian regulators rejected Total's first deal with Chappal Energies for...

China's crude imports increased 17% in December compared to a year earlier, and total imports for 2025 will rise 4.4%. The daily volumes of crude oil imported in December 2025 and throughout the year will be at all-time records. According to the General Administration of Customs, the world's biggest crude importer imported 55.97 millions metric tons of petroleum in December. This is equivalent to 13,18 million barrels of oil per day. The increase was 10% compared to 50.89 in November. The data shows that China will import 557.73 millions tons of crude oil by 2025 or 11,55?million barrels per day,...

Customs data revealed that China's coal imports in December rose to a "record monthly high" due to winter stockpiling and rising domestic prices. According to the General Administration of Customs, imports in December reached a monthly record of 58.59?metric tons. This is a sharp rebound from'supply constraints caused by major exporters Indonesia Australia and Russia in November. Buyers stock up on coal in anticipation of the coldest months, when heating demand drives consumption higher. A government index also showed that domestic coal prices rose to nearly a year high by the end of November. This would have led buyers to...

Gold prices extended losses ?from the previous session on Friday, as stronger-than-expected U.S. economic data and ?easing ?geopolitical tensions in Iran hampered bullion's bullish momentum. By 1217 GMT, spot gold had fallen 0.1% to $4610.86 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 Wednesday. U.S. Gold futures for delivery in February edged down 0.2% to $4,615. Carsten Menke, Julius Baer analyst, said: "There used to be a lot of momentum in the gold market. It seems that it has waned a bit at the moment ....the recent economic news...

Mali's industrial?gold?output declined 22.9% in the year 2025 due to the long?suspension? of Barrick Mining operations because of a dispute about tougher mining regulations, according to preliminary figures released by the West African nation's Mines Ministry. Mali is one of Africa's biggest gold producers. It has been pushing for reforms to increase the value of this sector. This was enshrined into a mining code that was introduced in 2023. The government announced in December that a sweeping audit had led to the recovery by mining companies of arrears amounting to 761 billion CFA francs (US$1.2 billion). The tougher rules ruffled...

The copper price fell to a new low of one week on Friday, mainly due to profit-taking following a rally driven by speculative fund managers. Meanwhile,?demand for physical copper in China was muted. Benchmark?three month copper on the London Metal Exchange fell 1.2% to $12,955 per metric tonne by 1100 GMT, after reaching its lowest level since January 9 at $12,774.5. Metal used in construction and power is down 5% from a record high of $13,407, reached on Wednesday. China's securities regulator, which is the world's largest metals consumer, has vowed to crackdown on excessive speculation following this week's near...

Copper prices dropped?on Friday, hitting their lowest level in a week. They were weighed down by rising concerns about demand in China's top consumer following?downbeat statistics and the absence rate cuts. The Shanghai Futures Exchange's most traded copper contract closed the daytime trading session 2.26% lower, at 100,770 Yuan ($14.461.20) per ton. This is its lowest level since January 9. Benchmark three-month Copper on the London Metal Exchange fell 1.68% by 0723 GMT to $12,885.50 per ton, its lowest level since January 9. The dollar's strength contributed to a 0.6% decline in both benchmarks, which had gained ground earlier in...

Gold extended its losses ?on Friday after stronger-than-expected U.S. economic data reduced expectations of near-term Federal Reserve ?rate ?cuts, while easing geopolitical tensions shrunk demand for safe-haven bullion. By 0733 GMT, spot gold was down 0.2% at $4,604,29 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.90. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any intervention to quell the unrest?in...

The gold demand in India was muted as prices hit record highs, reducing the appeal of retail purchases. In China, bullion trades at a premium as demand remains steady before the Lunar New Year. Indian dealers offer a discount This week, official domestic prices will be up to $12 an ounce, including 6% import and 3% sales taxes, compared to the previous week's up to $6. On Friday, domestic gold prices were trading at around 142.800 rupees per 10 grams, which is not far off the record high reached earlier this week of 143.590 rupees. Chirag Thakkar is the CEO...

?Gold extended its losses on Friday after stronger-than-expected U.S. economic ?data ?dampened expectations of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0619 GMT, spot gold was down 0.2% at $4,604.39 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.50. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any kind...

Gold ?extended its losses on Friday after stronger-than-expected U.S. economic data ?dampened expectations ?of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0426 GMT, spot gold was down 0.4% at $4,598.52 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. gold futures for delivery in February fell by 0.5% to $4.601,80. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any...

Copper prices fell Friday due to concerns about demand prospects in China, the top consumer, following a downbeat data and lack of rate cuts. However, the metal was still on track for a gain this week, thanks to a tight supply outlook. By 0226 GMT, the most traded copper contract at the Shanghai Futures Exchange had fallen 0.97%, to 102100 yuan (14,655.43) a metric ton. The benchmark three-month copper price on the London Metal Exchange fell 0.58%, to $13,029.5 a ton. The benchmarks are up around 0.5% this week. However, a stronger dollar has limited the gains. Copper prices are...

Chow Tai Fook Jewellery Group is China's largest jewellery retailer with thousands of shops across mainland China and Hong Kong. The group has begun to look further afield in search of new growth. It started?in Southeast Asia, with a brand-new store in Thailand. The company opened its flagship store at Bangkok's Siam Paragon, a luxury shopping and lifestyle center in Bangkok. This move is part a 'wave' of Chinese and Hong Kong brands moving abroad to offset slowing domestic demand and rising market saturation in the world’s second-largest economic powerhouse. Sonia Cheng said that the company's expansion abroad "sees strong...

Gold prices declined on Wednesday, as the dollar rose on weaker than expected U.S. jobless claims data. Meanwhile, President Donald Trump’s more moderate stance on Iran weighed further on demand for gold. As of 09:32 am, spot gold was down by 0.3%, at $4,607.59 an ounce. ET (1432 GMT). On Wednesday, gold reached a new record of $4,642.72. U.S. Gold Futures for Delivery in February fell by 0.5% to $4.612.50. Data showed that new U.S. unemployment benefit applications unexpectedly dropped last week. This pushed the dollar index up to its highest level since December 2, and made bullion prices more...

Iron ore futures fell on Thursday, as the hot metal output in China's top buyer fell amid a slow return to production following the New Year holiday. The most-traded May iron ore contract at China's Dalian Commodity Exchange closed daytime trading 1.03% lower, closing at 813 Yuan ($116.63). The contract reached its lowest level since January 9, at 812 Yuan, earlier in the day. As of 0709 GMT the benchmark?iron ore for February on the Singapore Exchange had fallen by 0.97% to $107 per ton, after reaching its lowest level since January 7, at $106.95. According to data released by...