AFP

Chinese Premier Li Qiang warned on Wednesday that global trade tensions were “intensifying” as he addressed the opening ceremony of the World Economic Forum.Officials including Singaporean Prime Minister Lawrence Wong are among those attending this week’s gathering in the northern port city of Tianjin, known colloquially as the “Summer Davos”.Li said the global economy was …

China’s premier warns global trade tensions ‘intensifying’ Read More »

Most equities extended a global rally Wednesday after Iran and Israel agreed to a ceasefire that ended more than a week of hostilities, while the dollar struggled to recover from a sharp drop stoked by bets on a US interest rate cut.However, wariness over the agreement by the Middle East foes helped oil prices climb, …

Stocks rally as Iran-Israel ceasefire holds, oil claws back some losses Read More »

Oil prices sank for a second straight day and stock markets mostly rose Tuesday as a ceasefire between Iran and Israel appeared to be holding firm.Crude futures slumped in volatile trading after US President Donald Trump announced a ceasefire, extending Monday’s steep losses in oil after Iran’s response to the US attack did not hit …

Oil slides, stocks rise as Iran-Israel ceasefire holds Read More »

A $45 million corruption trial against 41 people including state officials began in Vietnam on Tuesday, part of the communist state’s wide-ranging anti-graft drive.The so-called “burning furnace” campaign against corruption has swept up dozens of senior government figures, including two presidents and three deputy prime ministers, as well as top business leaders.In the latest case, …

Vietnam puts 41 on trial in $45 mn corruption case Read More »

Virgin Australia climbed sharply as it re-entered the local share market Tuesday, a dramatic comeback from near bankruptcy more than four years ago.A 30-percent chunk of Virgin Australia, one of the few domestic rivals to Qantas, was sold in an initial public offering this month at Aus$2.90 a share to raise Aus$685 million (US$444 million).The …

Virgin Australia surges in market comeback Read More »

Asian shares gained and oil prices were down Tuesday, as fears of an energy market shock eased following US President Donald Trump’s announcement of a ceasefire between Iran and Israel.Investors were relieved that Iran did not retaliate to a US attack on its nuclear facilities by throttling oil transport through the strategic Strait of Hormuz.On …

Asian stocks up as Trump announces Iran-Israel ceasefire Read More »

Crude oil prices slid more than seven percent Monday while Wall Street stocks advanced after markets shrugged off Iran’s rebuttal to the US weekend attack on Iranian nuclear facilities.Iran announced it had launched missiles at a major US base in Qatar, with explosions ringing out in Doha and projectiles seen streaking overhead.But Qatar described the …

Oil prices tumble as markets shrug off Iranian rebuttal to US Read More »

Around 84 percent of oil passing through the Strait of Hormuz is destined for Asia, leaving the economies of China, India, South Korea and others vulnerable should Iran blockade the crucial trading route over US strikes on its nuclear sites.Around 14.2 million barrels of crude oil and 5.9 million barrels of other petroleum products pass …

Asian countries most vulnerable to Strait of Hormuz blockade Read More »