Latest News
-
Finland reports suspected drone territorial violations
The?defence minister of Finland reported Sunday that there was a'suspected territorial breach by unmanned aerial vehicle in the southeast?of the country. Estonia, Latvia, and Lithuania, which are nearby, said earlier this week that several Ukrainian drones crashed on their territories after they went astray while attacking Russian oil exportation facilities?on the Baltic Sea Coast. Ukraine has intensified drone attacks on Russian oil refineries, export routes and other military targets in recent weeks to try and weaken Russia's war-economy and because peace talks, mediated by Washington, are stalling. The origin of the drones that were detected in Finland was not immediately known. "Drones strayed onto Finnish territory." "We are treating this matter very seriously," wrote Defence Minister Antti hakkanen in a post on social media, adding that an investigation is ongoing. In a statement, the Ministry of Defence said that on Sunday morning several small objects were seen flying low in altitude over an area near a sea and in southeastern Finland. It said that one drone landed on the ground north of Kouvola. Another fell east of Kouvola. It was reported that the Finnish Air Force carried out a?identification flight with a?F/A-18 Hornet jet fighter. Anne Kauranen reported from Helsinki, and Terje Solsvik from Oslo. Mark Potter edited the article.
-
Questions are raised about some trades made ahead of Trump's policy changes
Experts have questioned whether some of Donald Trump's most important policy decisions were preceded by well timed bets. This is a list. March 23, 2026: IRAN ATTACK pause. An unidentified trader or traders placed $500 million in bets on Brent and WTI futures within a minute, shortly before Trump announced that he would delay the?attacks against Iran's energy infrastructure for five days. After Trump's announcement, oil prices dropped 15%. LSEG data indicates that between 1049 and 10:00 GMT,?5,100?? lots changed hands. Selling dominated volume. Trump's announcement on social media at 1105 GMT caused over 13,000 lots, or 13 million barrels, to trade in just 60 seconds. Brent fell to $99 from $112 per barrel and WTI to $86 from $99. February 28, 2026 – IRAN STRIKES KILLED SUPREME LEADER AYATOLLAH ALI KHAMENEI Wagers made on platforms such as Polymarket and Kalshi prior to the death of Iranian Supreme leader Ayatollah Ayatollah Khamenei heightened scrutiny over prediction markets. Democratic lawmakers called for a ban on wagers that are tied to military action, which could reward those who have privileged information. A review of Polymarket’s website revealed that at the time, $529 million had been wagered on a variety of contracts tied to timing of U.S. - Israeli strikes against Iran. Another $150 million had been staked on Khamenei’s removal as supreme ruler. Prediction markets allow users to wager on real-world events through a range of tradable contracts. Bubblemaps, an analytics firm, identified six accounts which made a total profit of $1.2 million from Polymarket bets funded just hours before the raids on February 28. U.S. Rep. Mike Levin from California highlighted one particular Polymarket bet that was placed just before the Iran strike. Separately traders moved the opposite way on February 27 despite hotter than expected inflation data, which would normally prompt investors to sell long-dated Treasuries. They pushed yields on 10-year notes below 4%. Analysts say that such a shift to safe-haven assets is usually driven by macroeconomic events which are negative or imminent. The Dow Jones U.S. Airlines Index fell 5.13% that day, as oil prices increased. January 3, 2026 -- U.S. CAPTURE OF FORMER VENEZUELAN PRESIDENT NICOLASMADURO An unknown trader made a profit of approximately $410,000 in January after betting on the ouster Venezuelan President Nicolas Maduro. Before the weekend raid on Maduro’s Caracas compound by U.S. Special Forces, a trader’s account at Polymarket had built up contracts that were?tied to Maduro’s removal. The terms implied high odds. These wagers, which were worth approximately $34,000 before his capture, soared in value when news of the U.S. military action broke on January 3. Trading data shows that unidentified traders bet millions on the U.S. Stock Market rebounding in the moments before Trump's announcement of a tariff pause. This triggered a huge rally in April last year. Trump's Truth Social post pausing the tariffs was posted at 1:18 pm. ET on April 9 triggered a 9.5% increase for the S&P 500. Data from the market shows that certain options contracts saw a surge in trading activity before it. Around 1 p.m., 5,105 call options for SPY were traded. The average price of the SPY call options was $4.20. These calls rose as high as 42 dollars, turning 2,14 million dollars into approximately $21.44 millions on paper. Other SPY calls that bet on the ETF going above $509 were traded around 1:10 pm. ET; their value increased from $624,000 to $10 million at the end of the day. The trader could not tell if the calls had been?all bought or sold by a single trader, or whether several traders were involved and if they had closed their position with a profit. Kush Desai, White House spokesperson, said that government ethics guidelines prohibit federal employees from profiting from nonpublic information. In an email, he stated that any implication of Administration officials engaging in such activities without evidence was baseless and irresponsible.
-
Fears of wider Iran conflict has led to a relaxation in the Gulf markets
Investors' sentiment was affected by the sagging of most Gulf stock markets in early Sunday trading, as concerns about a wider conflict linked to Iran weighed heavily on their minds. This came after Yemen’s Houthis launched the?first? attacks on Israel since the conflict started and the U.S. sent additional forces into the Middle East. The Washington Post reported Saturday that U.S. officials had said that the Pentagon was preparing for a possible multi-week?operation on the ground in Iran. However, it remained unclear whether President Donald Trump would authorize the deployment. The Qatari Index fell by 1.1% as Qatar National Bank, which is the Gulf's largest?lender based on assets?, declined by 1.3%. Kuwait's bourse slid by 0.4%, and Bahrain's market dropped by 0.1%. Saudi Arabia's benchmark indices bucked trend and gained 0.4%, thanks to a?0.4% increase for Al Rajhi Bank as well as a 0.6% gain for Saudi?Aramco. Bloomberg News reported that Saudi Arabia's East West pipeline, which circumvents?the Strait of?Hormuz?, pumps oil at its full capacity, 7 million barrels a day, according to a source familiar with the issue. Brent crude futures rose $4.56 or 4.2% to $112.57 per barrel on Friday. This reflects skepticism about prospects for a truce in the Iran War, which has been ongoing for over a month.
-
Vedanta, India's largest company, will split into five companies in the next few months.
The Financial Times, citing an Anil Agarwal interview, reported that India's Vedanta would be split into five listed companies by the end of next month as part of a reorganization program that has been ongoing for years. In December, a tribunal approved the plan of the oil-to metals conglomerate to divide?into 5 listed entities. Vedanta will be operating as Vedanta Ltd, housing the?base metals division. Vedanta Aluminum, Talwandi Sabo Power, Vedanta Iron and Steel,?and Malco Energy are the other?four entities. Agarwal, a FT reporter, said that the combined market capitalisation of five companies would be higher than the current $27 billion conglomerate. Agarwal's private parent company will retain around?half the shares of each new entity, he said. The government, which first proposed the plan in 2023, was opposed to it, as they feared that a breakup would make it more difficult for them to recover debts. In an interview with in January, Chief Financial Officer Ajay Goel said that Vedanta plans to list the four demerged units on Indian exchanges before mid-May. Preetika parashuraman, Bengaluru. Christopher Cushing, editing.
-
Bahrain's Alba confirms Iranian attacks on its facilities
Aluminium Bahrain (also known as Alba) confirmed early on Sunday that its facilities had been targeted by an Iranian attack just a day earlier, Bahrain’s state news agency reported. Alba said that two people were slightly injured during the attack and was assessing the damage to the facility. Iran's Revolutionary Guards confirmed the attack after they said that they targeted Alba, Emirates Global Aluminium and other companies in response to attacks on two Iranian Steel Plants. The IRGC stated, without elaborating on the matter, that both companies were linked to U.S. aeronautics and military firms. Could not independently verify IRGC claims. Alba initiated a?shutdown of three aluminium smelting?lines in March, which accounted for 19% of its?capacity to maintain business continuity amid the ongoing disruptions in the Strait of Hormuz. The company declared force majeure on March 4, when it could not ship metals to its customers because of the closure. The U.S. and Israeli war against Iran has had a major impact on the Middle East aluminum sector. This sector accounts for around 9 % of global supply. Separately, Bahrain's Foulath Holding, parent company of Bahrain Steel declared a force majeure for its operations on Saturday due to the regional conflict, "associated security disruptions and?logistical interruptions". The company said that the current situation in the Middle East has created circumstances "outside of its?control" which have affected operations and 'logistics' across various parts of the group's business, without giving details about the magnitude of the impact. Reporting by Menna alaa el-din and Nayera abdallah Editing and Chizu nomiyama by Rod Nickel
-
Emirates Global Aluminium reports "significant damage" from Iranian attacks
Emirates 'Global Aluminium'said on Sunday that its Al Taweelah manufacturing base in the UAE suffered "significant damage" from Iranian missile and drone strikes. The company released a statement saying that a number of EGA staff were injured during the attack on the Khalifa economic zone?in Abu Dhabi. It added that none of the injuries was life-threatening. EGA CEO Abdulnasser Bin Kalban stated in a statement that "the safety and security of EGA's people are our top priority at all times." "We are deeply saddened by the incident and are assessing damage to our facilities." Since the U.S. and Israel war against Iran, most aluminium producers from the Gulf region, who account for around 9 percent of global production, have not been able to ship metal via their usual channels to world markets due to the closure of the Strait?Hormuz. EGA's Al Taweelah aluminum smelter will produce 1.6 million metric tonnes of cast metal by 2025. The company has an adjacent refinery that produces 2.4 million metric tons of aluminium raw materials. EGA, which operates a smelter in Jebel Ali, in the emirate Dubai, claimed to have substantial metal stocks on the water and some overseas locations. Reports earlier in the month indicated that the company was rerouting aluminium exports to the Omani port Sohar and importing raw materials via this port. (Reporting and editing by Joe Bavier, Louise Heavens, and Tom Daly)
-
Prime Minister says Egypt will slow down state projects in Egypt for two months due to the war with Iran
Egypt will'slow down' large state projects that require a high fuel and diesel usage for at least two months, while fuel allocations for government vehicles will be reduced by 30%. Madbouly said that the public sector, as well as the private sector, except for the services and manufacturing industries, would work remotely 'every Sunday in April. This measure can be extended by an additional day per week, or for several months if war continues. This is part of wider measures to deal with the economic fallout caused by the 'Iran War, which has pushed up energy prices and strained the public finances. Egypt, despite not being directly involved, has suffered a great deal, especially in its energy sector. It is heavily dependent on fuel imported from abroad. The disruption in oil and gas trade and production across the Middle East has led to a rise in costs. Fuel prices and public transport costs have already been raised by the government. Madbouly emphasized that these measures were temporary and that the government was 'working to help the citizens. Finance minister Ahmed Kouchouk stated that debt servicing costs, the mainstay of Egypt's budget which is usually consumed by the service of debt, will only rise 5% in the fiscal year beginning July. Ahmed Tolba in Cairo, Mohamed Ezz in Alexandria and Jaidaa T. Taha edited by Jan Harvey and Louise Heavens.
-
Baghdad orders probe after drone targets Kurdistan president's home
Security?sources say that a 'drone attack' targeted the home of the President of Iraq’s Kurdistan Region?early Saturday morning. This?incidences comes at a time when tensions are rising in northern Iraq. Sources added that air defences shot down a drone in Duhok near a base of Peshmerga warriors. The strikes come amid an increase in attacks against both Iran-aligned forces and?Kurdish ones as the U.S. and Israeli war on Iran spills?over into Iraq, attracting multiple armed group and straining Baghdad’s efforts to contain?the fallout. His office reported that Prime Minister Mohammed Shia al-Sudani spoke to him on the phone and condemned the attack on Kurdish President Nechirvan Barzani’s house. Sudani also ordered the formation of a joint federal and Kurdistan technical and security team to investigate and identify the perpetrators. Since the beginning of the U.S. and Israeli war against Iran, airstrikes have targeted sites that belong to Iraq's umbrella organization for Iran-backed Shi’ite militias. The Popular Mobilization Forces also target Kurdish Peshmerga fighters in 'Iraqi Kurdistan. Iraqi military claimed that the U.S., Israel and others carried out some of the airstrikes against the PMF. Tehran-backed armed group have also launched attacks on U.S. base?in Iraq as well as?the U.S. Embassy. Reporting by Jaidaa Taka, additional reporting by Muayad Saadi; Writing by Ahmed Tolba from Cairo; Editing and proofreading by Joe Bavier & Louise Heavens
QUOTES - Trade and labor associations, analyst on Trump's reciprocal duties
Donald Trump announced on Wednesday that he will impose a baseline 10% tariff on all imports into the United States, and higher duties for some of the biggest trading partners. This could lead to a trade conflict and upset the global economy.
Countermeasures from trading partners could result in a dramatic increase in prices of everything, including bicycles and wine.
Trump has already levied 25% on automobiles and auto parts.
SCOTT WHITAKER, CEO, ADVAMED
"This type of tariff would be similar to an excise duty." R&D would be the most immediate and direct victim, as it threatens America's leadership in medtech innovation. Tariffs would cost U.S. workers, increase health care costs and hinder future medical progress."
RYAN ORABONE MANAGING CONSULTANT BEARINGPOINT
"Diversification (of the supply chain of an apparel retailer) and manufacturing is a moot issue because tariffs impact every major geographic facility where we produce clothing."
Brands need to be more strategic than ever before and plan everything with precision. "There is no room for errors anymore, including assortment, allocation and pricing."
DAVID SWARTZ ANALYST MORNINGSTAR FOLLOWING FITNESS
The huge tariffs on imports from Vietnam are clearly a negative for Nike Adidas and other sportswear companies. Due to the difficulty of manufacturing, athletic footwear can't be easily produced in other countries. Tariffs are also being levied on other Asian nations.
The industry will not react in a panic. If the tariffs remain in place, sportswear prices will rise and margins could be affected.
The chances of significant footwear and apparel manufacturing in the US being a result of any of these initiatives are virtually zero.
MARI SHOR SR., EQUITIES ANALYST AT COLUMBIA TREADNEEDLE INVESTIMENTS, WHICH HOARDS NIKE STOCKS
"The announcement of the tariffs is much worse than expected." Nike and other footwear companies will find it difficult to avoid a 46% tariff against Vietnam. The companies will try to fight back against vendors but tariffs are likely to drive up inflation in many categories and pressure consumer discretionary spending."
CHRIS VITALE, UAW VETERAN WHO RETIRED FROM STELLANTIS, ATTENDED TRUMP'S TARIFF ANNOUNCEMENT IN PERSON
"You know what's amazing is that an announcement about trade policy could become emotional."
"These are the things we've been preaching about for years. We've watched our factories and our capabilities being hollowed-out. To see a President address this and use some words and thoughts I've used, was incredible."
LIZ SHULER PRESIDENT AMERICAN FEDERATION of LABOR and CONGRESS INDUSTRIAL ORGANIZATIONS
The Trump administration's attacks against the rights of union workers at home, the gutting of government agencies that work to discourage outsourcing of American jobs, and efforts to erode crucial investments in U.S. Manufacturing take us backward.
RICHARD CAPETTO, SENIOR DIRECTOR, NORTH AMERICAN GOVT. AFFAIRS IPC
"A strong U.S. electronic industry requires a holistic approach - one that combines targeted investments and incentives, with policies that promote mutually beneficial trade partnership. Trade is crucial to innovation, cost-competitiveness, and supply chain resilience. Tariffs could increase costs for American companies and drive production overseas.
ZOLTAN VAN HEYNINGEN EXECUTIVE DIRECTOR, U.S. WOOD COALITION
We welcome President Trump's measures and the focus of his administration on Canada's unfair trading practices. We are especially pleased that the President has launched the Section 232 Investigation under the Trade Expansion Act of 1964 focusing on the imports of softwood lumber.
MARK COMPTON EXECUTIVE DIRECTOR THE AMERICAN EXPLORATION & MINING ASSOCATION
We are encouraged that the Trump administration is prioritizing the production and processing of domestic minerals so we can have the raw materials our manufacturing base, and society needs. We are looking forward to working together with the administration in order to ensure that the domestic mining industry can meet this challenge.
TONY REDONDO, FOUNDER AT COSMOS CURRENCY EXCHANGE
Intel is not immune to the cost increases caused by imported chips. Semiconductor giants such as Nvidia are also affected. China's retaliation against rare materials may worsen shortages.
PC makers (Dell and HP) may face cost increases of 10%-25%, which could add $200-$500/unit to the unit price, causing margins to be squeezed or prices to rise.
The cost of chips and steel may cause delays for AI server companies (Nvidia and Amazon).
Construction and retailers like Walmart could also be affected.
"Short-term, higher costs and chaos." "Long-term, maybe more U.S. Manufacturing but labor and infrastructure are lagging."
Consumers will face higher prices by 2025, unless companies absorb the costs. This is not common.
BERNSTEIN ANATOMY
"We are concerned that the vehicle and part tariffs will be here to stay, and they will add a significant cost burden to this sector." We see more downside risk for automotive stocks if automotive tariffs do not get reversed, but are instead extended.
TOM MADRECKI VICE-PRESIDENT OF SUPPLY CHAIN RESILIENCY CONSUMER BRANDS AFFILIATION
The majority of consumer packaged goods are already manufactured in the United States. There are some critical inputs and ingredients that must be imported because they are scarce in the United States. Tariffs alone will not bring these ingredients back to the U.S.
"Reciprocal Tariffs that don't reflect the availability of ingredients and inputs will increase costs, limit access to affordable products for consumers and unintentionally hurt iconic American manufacturers." We urge President Trump and his advisors to refine their approach to exempting key ingredients and inputs, in order to prevent inflation and protect manufacturing jobs.
LENNY LARCCA, KPMG U.S. AUTOMOTIVE LEADERS
"U.S. Automakers are looking for steps they can take to mitigate tariffs in the short term, such as working on items that can be shipped to the U.S. rapidly without major investment." Massive longer-term investments require more time and clarity."
The current playbook of the U.S. automobile industry is insufficient, and it's a momentous time for them. Automakers have an opportunity to change the way they do business. Leverage emerging technologies like AI in all areas of their business. Explore and make alliance decisions faster. "Speed up the vehicle production cycle time."
This watershed moment presents an opportunity for mergers and purchases.
DAVID McCALL, PRESIDENT UNITED STAINWORKERS INTERNATIONAL
We must make sure that our trade policy is aimed at cheaters and not trusted economic allies such as Canada. We should work to build relationships, not barriers, with partners who have shown their commitment to join us in tackling the global overcapacity.
The administration must also take measures to prevent companies using tariffs to increase prices on consumers.
MIKE HAWES is the CEO of UK's Society of Motor Manufacturers and Traders.
The tariffs cannot be absorbed, and the U.S. consumer may pay more for British products, while UK producers could have to reduce production due to a constrained market.
SETH GOLDSTEIN MORNINGSTAR ANALYST FOR U.S. SETH GOLDSTEIN, MORNINGSTAR ANALYST ON U.S.
"I expect lower volumes due to tariffs." Tariffs are likely to be passed on to the consumer in order to increase prices of products. "I expect that consumers will buy less goods."
Due to the high fixed costs of chemical production, lower volume would have a large impact on profits. We could also see another year with declining profits if tariffs are widely implemented. Many chemical producers manufacture their products in the U.S. for domestic sales, so there is less direct impact.
DAVID FRENCH EXECUTIVE V.P. OF GOVERNMENT RELATIONS AT THE NATIONAL RAILWAY FEDERATION
"More Tariffs = More Anxiety and Uncertainty for American Businesses and Consumers. Tariffs represent a tax that is paid by U.S. importers and passed on to the final consumer. No foreign country or supplier will pay tariffs. "We encourage President Trump, to hold trading partners responsible and restore fairness to American businesses without creating uncertainty or higher prices for American consumers."
ART WHEATON DIRECTOR, ILR SCHOOL CORNELL UNIVERSITY, LABOR STUDIES
It will take years and billions to bring new manufacturing jobs online. However, expansions in existing factories can happen much faster. Companies prioritize stability. Frequent policy changes can slow down investment decisions, as businesses wait to see clearer long-term signals.
MICHAEL ASHLEY SCHULMAN IS A PARTNER AT RUNNINGPOINT CAPITAL ADVISORS AND THE CIO.
"Trump may be trying not only to bring manufacturing back to the U.S. but also to increase the economic instability of China by putting tariffs on Chinese goods. Tariffs of 34% on Chinese products could force Chinese manufacturers to shut down, leading to increased unemployment and social unrest in China.
If these tariffs are imposed, they will have a significant impact on the PC, server, and semiconductor manufacturers.
Investors, analysts and politicians will all be watching with bated breathe to see what happens after this 'Liberation Day volley' from the administration. The announcement today is likely to be a worst case scenario. Hopefully, any negotiations will lead to improvements. Reporting by Juby B. Babu from Mexico City; Vallari Srivastava in San Francisco; Abhirup Roy and Caroline Humer at New York City; Nick Brown, Shounak D. Dasgupta, and Alan Barona for the editors.
(source: Reuters)