Switzerland

The Financial Times reported that the global oil demand will remain stable until at least 2040. The report cited the long-term outlook of the company, which was seen by the newspaper. Vitol didn't immediately respond to an inquiry for comment. In the report, the company stated that despite efforts made to reduce carbon emissions through the transition to cleaner fuels by switching to cleaner fuels and growing populations, oil demand would continue to grow. The report stated that Vitol, which is the largest independent oil trader in the world, expects the global oil demand to drop by 4.5 millions bpd...

Oil markets sank on Friday, a day after U.S. President Donald Trump pushed OPEC and its de facto leader Saudi Arabia to reduce rates in a broad push to increase unrefined production. Brent unrefined futures were down 50 cents at $77.95 a. barrel by 0044 GMT. U.S. West Texas Intermediate crude (WTI). shed 31 cents to $74.31. Trump, throughout his speech on Thursday at the World Economic. Forum in Davos, Switzerland, stated he would demand the. Company of the Petroleum Exporting Countries lower the. cost of crude barrels. Trump also stated he would ask Riyadh to increase a U.S. financial...

Jan 23 - U.S. President Donald Trump will speak remotely at the World Economic Online Forum on Thursday in Davos, Switzerland, and hold a discussion with magnate including Bank of America CEO Brian Moynihan and Blackstone Group CEO Stephen Schwarzman. The remarks, Trump's first significant speech to worldwide company and politicians, are scheduled for 11 a.m. Eastern time ( 1600 GMT), according to the meeting schedule. Other participants in what is billed as a subsequent discussion consist of TotalEnergies CEO Patrick Pouyanne, WEF CEO Borge Brende and WEF creator Klaus Schwab. Magnate aspire to hear more about Trump's. concrete intend...

Syrian Foreign Minister Asaad Hassan alShibani stated on Wednesday that the country will open its economy to foreign financial investment and that Damascus is also dealing with energy and electrical power collaborations with Gulf states. Syria's economic resources are diverse and we have a great deal of sectors - industry, tourist ... of course the economy in the future will be open and will open the road for foreign investment, he said at the World Economic Online forum meeting in Davos, Switzerland. Shibani paid different check outs to Saudi Arabia, the United Arab Emirates and Qatar in early January, during...

Norwegian industrial software company Cognite strategies to move its head office to the U.S. this year to gain access to fastergrowing markets in North America, Asia, and the Middle East, its cofounder John Markus Lervik told Reuters on Tuesday. Lervik told the Reuters Global Markets Forum that Europe's. regulative environment was hindering growth. We are doubling down in the U.S., and with the new. president's concentrate on financial investment, we're growing additional. strongly, with over 100 open positions, he stated. Donald Trump's second presidency, marked by trade hazards. and sweeping executive actions, positions fresh threats for European. players as tariffs...

Standard Chartered is set to book nearly $1 billion in income in 2025 from company geared towards assisting clients satisfy sustainability goals, CEO Costs Winters told executives at the World Economic Online forum in Davos, as he doubled down on supporting the netzero agenda. The UK lender, which has vowed to mobilise $300 billion in green and sustainable financing by 2030, has taken a leading role in international environment finance efforts and will continue to do so despite the election of environment sceptic Donald Trump as U.S. president and in the middle of increasing pressure on banks, Winters said. It's...

The UK's blue-chip FTSE 100 hit an all-time high on Friday, supported by a weaker pound after much softer than expected retail sales data boosted expectations of an interest rate cut next month. The FTSE 100 increased 1.4% to hit record highs and logged its 4th straight weekly gain. The midcap index increased 0.3% and registered its best weekly efficiency given that October 2023. British retail sales fell unexpectedly in December, according to data that raised the danger of an economic contraction in the 4th quarter, adding to the obstacles facing finance minister Rachel Reeves. Gilt yields moved lower throughout...

Polish oil refiner Orlen has actually reached a settlement to recoup $100 million out of $ 400 million in prepayment for Venezuelan and other oil which the business never ever received, a source acquainted with the matter stated. Under the settlement, state-controlled Orlen will recover the $100 million in numerous tranches by the end of the year from Dubai-based Horizon Global. The company is still attempting to recover the staying prepayments transferred to other business. The settlement was first reported by Polish broadcaster Radio Zet. Horizon Global did not respond to Reuters request for discuss Wednesday. In 2015, Horizon Global...

A Warsaw court on Monday purchased a former president of the Swiss trading system of Polish oil refiner Orlen to be apprehended for three months as part of an investigation into oil deliveries worth almost $400 million the business never ever got. Former head of Orlen Trading Switzerland (OTS), referred to just as Samer A. under Polish personal privacy laws, has actually been charged with entering into contracts that resulted in $378 million losses for Orlen and its Swiss subsidiary, the Regional Prosecutor's Office stated in a declaration. The court also provided an arrest warrant for another top supervisor of...

OPEC is unlikely to loosen up voluntary production cuts in the short term, executives of global product trading giants Vitol, Trafigura and Gunvor said at the Energy Intelligence Online Forum in London on Tuesday. OPEC+ is going over an additional hold-up to a prepared oil output hike that was due to start in January, 2 sources from the group stated on Tuesday. Trafigura's global head of oil Ben Luckock presumes OPEC will once again postpone its production boost, though most likely not that far into the future, as OPEC is unlikely to be pleased with present prices. I think that...

European shares ended lower on Wednesday, following a broad rally earlier in the session, hurt by a drop in energies shares on fears that U.S. Presidentelect Donald Trump could halt fresh approvals for overseas wind jobs. Trump, who regained the White Home by protecting more than the 270 Electoral College votes required to win the presidency, had actually promised throughout his election project to scrap overseas wind projects by executive order on his first day in office. Shares of Oersted and Vestas fell 12.8%. each, while the wider energies sector was down 2.6%. The pan-European STOXX 600 was down 0.5%,...

storyp1> BOGOTA, Oct 19 (Reuters) Almost 200 nations deal with a due date to report their nature conservation prepares to the United Nations ahead of a twoweek U.N. nature top dubbed COP16, beginning on Monday in the Colombian city of Cali. Here is what you require to understand: WHY ARE NATIONS MAKING NATURE PLEDGES? These pledges must set out how each nation plans to contribute to conference international nature targets agreed on at the last U.N. Biodiversity Summit, COP15, held in Montreal in 2022. The arrangement, called the Kunming-Montreal Global Biodiversity Structure, established four general objectives for 2050 and a...

The deadline for President Donald Trump to impose tariffs is fast approaching, while the U.S. releases data on jobs and the markets gauge the new AI landscape before major tech companies report. Bank of England is deciding on interest rates, and lenders across Europe are also publishing their results. Kevin Buckland, Saqib Ahmad, Lewis Krauskopf, and Amanda Cooper, in London, provide a guide to global markets for the coming week. 1/T DAY Everyone wants to know the severity of Trump's tariffs. From currency traders and bond investors to Fed officials and other foreign powers. Trump's promise to impose 25% tariffs...

Japanese companies stay bullish about investing in the United States however require to prepare for supply chain shocks that might occur during Donald Trump's presidency, the president of drinks huge Suntory Holdings said on Wednesday. Takeshi Niinami, who also heads among Japan's biggest company lobbies, said on the sidelines of the World Economic Online forum's (WEF) Davos conference that it is important for companies to show that their investments will produce tasks in the U.S. A study recently revealed that most Japanese companies running in the United States are bracing for brand-new tariffs. Tariff imposing by the Trump administration would...

Chile, the world's No. 1 copper manufacturer, will improve its output of the red metal to 5.54 million metric loads in 2034, representing a 5.6% increase from 2023, staterun copper commission Cochilco stated on Wednesday. The Latin American nation produced 23.6% of the world's. copper in 2024, Cochilco said. That amount is anticipated to. boost, with Chile's hold over the industry representing a. 27.3% share by 2034, it added. Cochilco stated it expected Chile to reach a peak production. level in 2027, mining 6.07 million lots of copper that year. From there, annual output is anticipated to change at lower....

The head of the World Health Organization on Monday called for an end to attacks on healthcare facilities in Gaza after Israel struck one and raided another in the past couple of days. Medical facilities in Gaza have as soon as again end up being battlegrounds and the health system is under severe danger, WHO Director-General Tedros Adhanom Ghebreyesus said in a post on X. We repeat: stop attacks on health centers. Individuals in Gaza require access to healthcare. Humanitarians require access to offer health help. Ceasefire! he included. The Israeli military said Hamas militants were the targets of a...

Canadian uncommon earth and metals recycler Cyclic Products Inc. will supply at least 10 thousand metric tones of recycled copper to Glencore as the Swiss miner aims to protect copper that is anticipated to soar in need in the coming years, Cyclic Materials' CEO said. As part of a multi-year arrangement, Cyclic Materials will sell copper scrap to Glencore, which will process and refine the metal at its Horne smelter and Copper Refinery in Quebec to turn it into copper cathodes. The Horne smelter is The United States and Canada's. biggest recycler of copper and rare-earth elements, according to. Glencore....

Australia's prudential regulator said banks will be slowly forced to stop raising funds through hybrid bonds considered inefficient at taking in losses in case of a. crisis, to avoid a situation like last year's writedowns to. Credit Suisse securities. The Australian Prudential Guideline Authority (APRA) stated. on Monday that over the next 8 years it will phase out the. usage of Extra Tier 1 (AT1) capital instruments, typically. referred to as hybrid bonds, with more affordable and more dependable. forms of capital that would absorb losses better in. times of stress. AT1s are one of the three types of capital...

Swiss cement maker Holcim will leave its Nigerian organization through the sale of its nearly 84% stake in Lafarge Africa to China's Huaxin Cement in a $1 billion offer, it stated on Sunday. The deal lines up with Holcim's technique to enhance its portfolio and focus on high-growth regions, including the coming spin-off of its North American company, which remains on track for a U.S. listing in the very first half of 2025. The transaction is expected to close in 2025, subject to regulative approval, Holcim's declaration said, without elaborating on the factor for this specific sale. In November last...

Europe's STOXX 600 opened on a soft note on the final day of an unstable week, with financiers assessing France's political uncertainty and awaiting euro zone inflation data to see if a larger European Reserve bank rate cut is on the cards for December. The pan-European main stock index was flat at 0815 GMT, bracing for its 5th weekly decline in six. The index was still on track for a modest month-to-month gain in three, even though the possibility of Europe being a U.S. tariff target and France's political problems have actually dampened investor belief towards the bloc, to name...

Europe's main stock index closed flat after an unstable session on Wednesday as investors remained on edge over geopolitical tensions between Ukraine and Russia which continued to cast a shadow over the markets. The pan-European STOXX 600 held its ground at 500.53 points. It declined for a fourth straight session - logging its longest losing streak in over 2 months. It touched a three-month short on Tuesday in the middle of an investor rush to safe-haven assets. Ukraine fired a volley of British Storm Shadow cruise rockets into Russia on Wednesday, a day after it fired U.S. ATACMS rockets upon...

Volkswagen selected former Rivian executive Kjell Gruner as head of its American company on Tuesday, as the automaker deals with a. choppy electrical shift and continuous negotiations with the. United Car Workers union in the region. Gruner, previously EV startup Rivian's primary commercial. officer and head of service development, is successful Pablo Di Si, who. has remained in the function because 2022. Automakers in the U.S. and worldwide are. getting ready for regulative uncertainty under President-elect. Donald Trump, who has guaranteed to pull back rewards on EV. production and acquiring. The president-elect's transition group is preparing to eliminate. the $7,500...

A diamondstudded necklace thought to be associated with a scandal that led to the eventual failure of the last queen of France, Marie Antoinette, is being sold in Geneva next week. The Georgian-era piece containing 300 carats of diamonds being offered by a Asian private collector in Geneva on Nov. 13 is valued at around 2 million Swiss francs ($ 2.29 million),. Sotheby's stated, although it may fetch a lot more. The piece was at the centre of a scandal in the 1780s known. as the 'Diamond Pendant Affair' in which a hard-up noblewoman. named Jeanne de la Motte pretended...

UBS stated on Thursday that significantly tighter supplies of copper in the coming six to 12 months might cause a deficit of more than 200,000 loads in 2025, as demand grows for the metal key to energy transition. Copper costs on the London Metal Exchange (LME) are forecast to typical $10,500 and $11,000 per metric lot in 2025 and 2026, respectively, UBS said. LME three-month copper struck an intra-day high at $ 9,578 a ton, though it was on track for a regular monthly fall. We are still positive about copper costs in the coming 2 years ... although rates...