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Seoul restricts naphtha exports as Hormuz disruption hits supply chains
SEOUL, March 26 — South Korea will begin restricting naphtha exports Friday amid growing supply shortages due to the West Asian situation, Seoul’s finance chief said Thursday, Yonhap News Agency reported. According to the plan announced by Finance Minister Koo
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Relief rally fades, Asian stocks slide, oil spike clouds outlook
SINGAPORE, March 26 — Asian stocks slid in choppy trading while the oil rose today as investors treaded cautiously amid the dizzying pace of developments in the Middle East, with Iran saying it would weigh a US proposal to end
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WTO at a crossroads, members struggle to find common ground at key summit in Cameroon
YAOUNDÉ (Cameroon), March 26 — The World Trade Organisation’s 166 members appeared deeply divided as ministers gathered in the Cameroonian capital for a key conference starting today, amid global economic turmoil linked to the Middle East war. Over four days,
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Indonesia gears up for ‘Godzilla’ El Nino, boosts food reserves
JAKARTA, March 26 — Indonesia is strengthening its national food reserves ahead of a potential severe El Nino expected from April as authorities move to safeguard food supply and stabilise prices amid risks of prolonged drought. Locally dubbed the “Godzilla”
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Ringgit weakens against US dollar as investors await signs of Iran war de‑escalation
KUALA LUMPUR, March 25 — The ringgit weakened against the US dollar and other major currencies at Wednesday’s close on cautious sentiment as investors await clearer signs of de escalation in the Iran war. At 6pm, the local currency eased
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Oil price retreat sparks relief rally, FBM KLCI ends day in green territory
KUALA LUMPUR, March 25 — Bursa Malaysia rebounded to close higher on Wednesday, tracking gains across regional markets as a sharp pullback in oil prices helped boost overall market sentiment, analysts said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM
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China hits mineral jackpot, massive rare earths, fluorite and barite haul found in Sichuan
BEIJING, March 25 — China has achieved significant breakthroughs in the exploration of three key minerals — rare earths, fluorite, and barite — in its southwestern Sichuan Province, according to the Ministry of Natural Resources, reported Xinhua. At the Maoniuping
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Oil drops, stocks pop on talk of Iran deal and Hormuz easing
HONG KONG, March 25 —Oil prices tumbled and stocks rose today after reports that Washington sent a peace plan to Iran, while Tehran announced it will let “non-hostile” oil vessels through the crucial Strait of Hormuz. After nearly four weeks
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BlackRock boss flags ‘stark’ global recession risk if oil surges to US$150
LONDON, March 25 — A surge in oil prices to as high as US$150 (RM600) per barrel could push the global economy into a “stark and steep recession”, the chief executive of BlackRock has warned, as geopolitical tensions continue to
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CK Hutchison unit says Panama arbitration claim now tops RM8b
PANAMA CITY, March 25 — A unit of Hong Kong conglomerate CK Hutchison said yesterday it had widened its claims in an international arbitration case against Panama, saying damages had now risen to more than US$2 billion (RM8 billion). Panama
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