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Iraq says Strait of Hormuz disruption slashed monthly oil exports by nearly 90pc
BAGHDAD, May 16 — Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war, the country’s new oil minister, Basim Mohammed, said at a press
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How Samsung’s AI chip success has led workers to threaten its biggest-ever strike
SEOUL, May 16 — A looming 18-day strike at South Korean chip giant Samsung that has triggered worries within the government, rattled foreign investors and threatened global supply chains rests on one crucial question: who should share in the spoils
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SpaceX shareholders approve 5-for-1 stock split ahead of planned IPO
CALIFORNIA, May 16 — A majority of SpaceX shareholders have approved a 5-for-1 stock split recommended by the company’s board, Bloomberg News reported yesterday, citing people familiar with the matter. Shareholders of IPO-bound SpaceX were informed via email that the stock’s fair
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Boeing confirms China commitment to buy 200 aircraft, Trump says deal could reach 950 planes
NEW YORK, May 16 — Aerospace giant Boeing yesterday confirmed that China had committed to purchasing 200 aircraft during a visit to Beijing by US President Donald Trump — a deal that could ultimately balloon with orders for 750 additional
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China markets tumble as Trump-Xi summit falls short of expectations
HONG KONG, May 15 — China stocks fell on Friday amid a broader market selloff as a two-day summit between US President Donald Trump and Chinese leader Xi Jinping produced few deals between the world’s top two economies to excite
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Malaysia defies global slump with 5.4pc Q1 GDP growth
KUALA LUMPUR, May 15 — The Malaysian economy recorded a firm growth of 5.4 per cent in the first quarter of 2026, driven by strong domestic demand and a continued surge in electrical and electronics (E&E) exports, Bank Negara Malaysia
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End of an era: LVMH confirms massive sale of Marc Jacobs brand
NEW YORK, May 15 — French luxury giant LVMH will sell its Marc Jacobs brand to US brand firm WHP Global, the two companies said Thursday. Marc Jacobs, acquired by LVMH in 1997, will keep the namesake American designer as
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Cost cuts help Burberry swing back into black in latest financial year
LONDON, May 14 — British luxury fashion label Burberry said Thursday it returned to profit last year thanks to a sizeable cost-cutting plan launched at the end of 2024. Net profit stood at £21 million (US$28 million; RM111.46 million) in
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Taiwan’s Foxconn posts stronger Q1 earnings on surging Nvidia-linked AI server business
TAIPEI, May 14 — Taiwanese tech hardware giant Foxconn on Thursday announced a 19-percent jump in quarterly net profit as the booming market for artificial intelligence servers drives growth, despite geopolitical uncertainty. Foxconn, whose official name is Hon Hai Precision
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Indian pharma firms linked to export of powerful opioids fuelling West Africa drug crisis
NEW DELHI, May 14 — Indian pharmaceutical firms are exporting millions of dollars’ worth of powerful opioids to west Africa despite a promised crackdown, an AFP investigation found Thursday, with officials saying they are driving a deadly drugs epidemic across
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