Oil, Shares Steady as Hormuz Ship Traffic Rises After Peace Deal
Oil prices steadied around $80 a barrel on Friday as the Strait of Hormuz saw a surge in traffic following the US‑Iran peace agreement. Twenty‑five commercial vessels crossed the strait on Thursday, the highest single‑day count since mid‑April and five times the early‑June average. While equities have rallied on hopes of restored energy flows, talks in Switzerland were postponed and fighting between Israel and Hezbollah flared, keeping markets cautious. The reopening also triggered a 48‑hour advance‑notice requirement for ships seeking transit.
Chinese Pharma Giant WuXi AppTec Sues Pentagon Over Blacklisting
WuXi AppTec, a leading Chinese contract research organization, sued the U.S. Department of Defense to overturn its recent placement on a Pentagon blacklist that targets firms alleged to support Beijing’s military. The company argues the designation is driven by political...
Meta, Reliance Sign Deal to Build AI-Enabled Data Centre in India
Meta and Reliance Industries announced a joint venture to build an AI‑enabled data centre in Jamnagar, Gujarat. Reliance will construct a 168‑megawatt facility, with Meta leasing capacity to support its generative‑AI services. The project is slated for completion within two...
Stocks Fall on US Inflation Fears, Oil Up on Mideast Peace Risks
Asian equity markets slipped on Wednesday as investors grappled with rising US inflation expectations and renewed Middle East tensions. Technology giants such as Samsung, SK Hynix and SoftBank led the sell‑off, falling 6‑8% amid fears of higher Fed rates. Oil...
Kospi Plunges, Nikkei Down Again on AI Doubts, Mideast Concerns
Asian equities tumbled on Friday as Broadcom’s Q3 revenue miss reignited fears of an AI‑valuation bubble, prompting a sharp sell‑off in tech‑heavy markets. South Korea’s Kospi slid 5.5% after an intraday 7% plunge, while Japan’s Nikkei fell more than 1%....
Rubio Revives ‘Quad’ With New Asia Projects For Critical Minerals
The United States, India, Australia and Japan announced a Quad initiative to mobilise $20 billion for critical‑mineral projects, spanning mining, maritime surveillance and undersea cable links. U.S. Secretary of State Marco Rubio emphasized the group’s shared democratic values and a shift...
Oil Below $100 But Iran Says a Peace Deal Is Not Close Yet
Oil prices slipped below $100 a barrel on Monday as Brent settled at $94.61 and WTI at $90.94, driven by market optimism that a Middle‑East peace deal could be near. However, Iran’s foreign ministry cautioned that a settlement with the...
India Leans on Coal as Severe Heatwave Drives Record Power Use
India’s scorching May heatwave pushed electricity demand to a new record of 270.8 GW, the fourth consecutive day of all‑time peaks. Coal‑fired plants supplied about 62% of the power, while solar accounted for 22% and wind and hydro each 5%. Temperatures...
New US-Iran Clashes Hit Peace Hopes, But Oil Under $100
US and Iranian forces clashed in the Gulf after Iran launched missiles, drones and small boats at three US warships, which the United States said it repelled without damage. President Trump maintained that the cease‑fire remains in effect while both...
Oil Rises Amid Fears of a Prolonged Stalemate in Strait of Hormuz
Oil prices climbed on Monday as U.S.-Iran negotiations stalled, with Brent crude trading above $107 a barrel and WTI at $95.76. Iran’s foreign minister offered to reopen the Strait of Hormuz in exchange for the U.S. lifting its naval blockade...
China’s Young Tapping AI, Subsidies to Launch One Person Firms
Young Chinese professionals are increasingly founding one‑person companies that rely on AI to handle most business functions. Government subsidies—including ¥700 million ($100 M) in Suzhou and up to ¥20,000 ($2,800) per graduate in Chengdu—are fueling the trend as the country battles a...
Oil Rises, Asian Stocks Mostly Fall After Trump Extends Ceasefire
President Donald Trump announced an extension of the U.S.–Iran cease‑fire, prompting Brent crude to climb above $100 a barrel and WTI past $90. Asian equity markets slipped, with Hong Kong and Sydney indexes falling more than 1%, while Tokyo and Shanghai...
China AI Circuit Board Firm Raises $2bn in Year’s Top HK Listing
Victory Giant Technology Huizhou, a Chinese maker of high‑end printed circuit boards for AI servers, raised HK$17.3 billion (about $2.2 billion) in Hong Kong, the largest IPO in the market this year. The stock jumped 59.6% to HK$335 ($43) on debut, reflecting...
China’s Top Streaming Site Under Fire Over AI Actor ‘Database’
China's leading streaming platform iQIYI unveiled Nadou Pro, a tool that connects AI creators with actors willing to license their digital likenesses. More than 100 Chinese celebrities have signed up for the new "artist database," sparking a social media firestorm...
Peace Talks in Limbo Over US Seizure of Iranian Cargo Vessel
U.S. forces seized an Iranian cargo ship on Monday, accusing it of breaching a naval blockade, prompting Tehran to reject participation in the next round of peace talks in Islamabad. The incident has revived accusations that the cease‑fire between the...