Finance

Phillips 66 has shipped crude oil from Texas to the U.S. East Coast on a foreign-flagged tanker, the first such cargo since Washington waived the Jones Act last month, Kpler ship-tracking data shows. The Bakken crude was loaded in early […]

Indian refiners that have bought Iranian crude under the one-month U.S. waiver on Iran’s oil on tankers are settling the purchases in Chinese yuan via the Shanghai office of India’s ICICI Bank, reported on Friday, quoting multiple sources familiar with the […]

Australian gold producer West African Resources Limited suspended trading in its shares on the Australian Securities Exchange on Friday, as investors weighed a government move in Burkina Faso that could significantly reshape ownership of one of West Africa’s largest gold projects. The […]

Data from the Central Bank of Nigeria showed that exports totalled 31.31 million barrels in January and 24.08 million barrels in February. Average daily production stood at 1.46 million barrels in January and 1.31 million barrels in February, while export […]

Gautam Adani has overtaken Mukesh Ambani to become Asia’s richest person, according to the latest data from the Bloomberg Billionaires Index. As per the rankings released on Friday, Gautam Adani, founder and chairman of the Adani Group, now ranks 19th […]

Damage caused to energy infrastructure in Gulf states would cost $58 billion to repair, Rystad Energy estimated this week, suggesting the fallout of the war between the U.S. and Israel, and Iran is more severe than futures market-focused observers would […]

President Donald Trump’s administration plans to launch next Monday the system it will use for issuing refunds to American importers for US$166 billion (HK$1.3 trillion) the companies paid in tariffs that the US Supreme Court struck down in February as […]

Japan has pledged to provide $10bn (£7.4bn) to help its Asian neighbours, especially those in South East Asia, secure energy including crude oil as the region reels from disruptions caused by the Iran war. Japanese Prime Minister Sanae Takaichi announced […]

World shares gained on Wednesday, edging towards record highs after President Donald Trump said talks with Iran could resume over the next two days, with hopes for an end to the Iran war keeping oil prices below US$100 a barrel. […]

The facility, arranged through the World Bank’s private-sector arm, the International Finance Corporation (IFC), will allow the institution to lend more in South African rand rather than in foreign currencies like the U.S. dollar. This is critical in emerging markets, where […]