Browsing: Business

Oil prices dropped sharply on Tuesday following remarks by U.S. President Donald Trump indicating that China can continue purchasing oil from Iran. The statement signals a potential shift in Washington’s “maximum pressure” policy against Tehran, coming in the wake of a fragile ceasefire agreement between Israel and Iran. By midday, global benchmark Brent crude had fallen $4.06, or 5.68%, to $67.42 per barrel, while U.S. West Texas Intermediate crude dropped $3.88, or 5.66%, to $64.63 a barrel. This follows a 7% decline in oil prices on Monday, as markets began to anticipate reduced geopolitical risk in the Middle East. Trump’s announcement came via his social media platform, Truth Social, where he…

Foreign currency deposits in the Republic of Korea recorded their first increase in four months during May, supported by a rise in deposits at securities firms and the temporary placement of corporate overseas investment funds, according to official data released on Monday. The total outstanding foreign currency-denominated deposits held by residents in South Korea reached US$101.36 billion at the end of May. This figure represents a rise of US$5.1 billion compared to the previous month, as stated by the Bank of Korea (BOK). The increase ends a downward trend that had persisted since January this year. The term “residents,” as defined by the BOK, includes Korean…

The price of Kuwaiti crude oil increased by $1.29 on Thursday, reaching $77.46 per barrel, according to a statement issued by the Kuwait Petroleum Corporation on Friday. This marks a notable rise from the previous day’s closing price of $76.17 per barrel. The movement in Kuwait’s crude price aligns with gains seen across international oil benchmarks. Brent crude futures climbed by $2.15, settling at $78.85 per barrel, while West Texas Intermediate (WTI) rose by $2.06 to reach $77.20 per barrel. The upward trend reflects market responses to recent developments in supply dynamics and global economic indicators. Analysts attribute the price increase to tightening global supply conditions,…

Global foreign direct investment (FDI) rose by 4 percent in 2024 to reach US$1.5 trillion, according to the World Investment Report 2025 released by the United Nations Conference on Trade and Development (UNCTAD) on Thursday. However, the headline increase masks a more complex picture of volatile capital flows and regional disparities. While overall global FDI registered modest growth, the underlying trends reveal persistent instability. The report notes that much of the 2024 increase was driven by transient financial flows through European investment hubs, which often act as conduits rather than final destinations. UNCTAD reported an 11 percent decline in the value…

The European Commission has estimated that the European Union will need to invest €241 billion in nuclear energy infrastructure by 2050 to meet its climate neutrality and decarbonisation targets. The figure was outlined in the Commission’s latest nuclear illustrative programme (PINC), released on Tuesday, as part of the EU’s broader strategy to strengthen energy security and industrial competitiveness while progressing toward net-zero emissions. The investment projection is tied to the REPowerEU Plan and the Clean Industrial Deal, which jointly aim to reduce dependency on fossil fuels and enhance the bloc’s clean energy capabilities. According to the PINC report, reaching the 2050 decarbonisation goals requires modernising existing…

Japan recorded a trade deficit of 637.6 billion yen ($4.4 billion) in May, marking the second consecutive month of red ink as exports declined amid falling demand for automobiles in the United States, according to data released Wednesday by the Ministry of Finance. Overall exports fell 1.7 percent year-on-year to 8.13 trillion yen, the first annual decline in eight months. The drop was largely driven by a steep 11.1 percent fall in exports to the U.S., led by a 24.7 percent plunge in automobile shipments. Japanese auto exports to the American market have been a critical component of the nation’s trade performance,…

Japan’s core consumer inflation accelerated in April, climbing 3.5 percent from a year earlier, marking the sharpest rise in more than two years. The increase, driven by reductions in government energy subsidies and a sustained surge in rice prices, underscores persistent inflationary pressures despite ongoing monetary policy efforts to stabilize price growth. Data released Friday by the Ministry of Internal Affairs and Communications showed that the nationwide core Consumer Price Index (CPI), which excludes volatile fresh food prices, continued its upward trajectory after a 3.2 percent increase in March. The latest figure represents the largest year-on-year rise since January 2023. Japan’s core inflation has now exceeded the Bank…

India and the UK finalize a trade deal expected to raise bilateral trade by £25.5B, marking the UK’s largest post-Brexit economic agreement.

U.S. stocks declined as Trump’s tariffs led major firms to withdraw guidance, fueling market uncertainty and pulling down AI and tech stocks.

The U.S. and Ukraine signed a minerals deal granting Washington resource access tied to a joint fund for postwar reconstruction.