Asia

Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Samsung Electronics is still fighting over the issue of pay. The planned strike that was due to begin today has been averted at the 11th hour by a deal reached between the company and its union last night. However, a group of disgruntled investors have threatened to ruin the entire thing. The details of the deal, which includes bonuses of about $416,000 for certain staff, paid mostly in stock, have attracted attention. Investors have largely ignored the drama and are bidding up Samsung...

Middle Eastern carriers increased capacity following the Iran War, and airlines outside the Gulf have rerouted flights between Europe & Asia away from major hubs within the region. The following is a list of the latest flights in alphabetical order. AEGEAN AIRLINES On May 21, Greece's largest airline will resume flights from Heraklion to Tel Aviv. Thessaloniki-Tel Aviv flights are cancelled up until June 26. Flights to Riyadh, Amman and Erbil will resume on May 21. The airline has cancelled flights to Dubai until June 29 and Erbil and Baghdad until July 2. AEROFLOT The Russian flag carrier announced that...

The UK announced on Wednesday that it would continue to allow the importation of jet fuel and diesel refined from Russian crude into third-country countries. This ban was first announced in October to help the country deal with the supply problems caused by the Iran War. The decision was criticized by lawmakers in Britain and Ukraine, who claimed that the government had backed down on its promises to stop Moscow from profiting off oil production and using it to fund their war against Ukraine. The Prime Minister Keir starmer said that the measures are part of a larger sanctions package...

Southwest Airlines will hire 1,000 people at its newly opened global capability center in India over the next several years, as it builds a hub outside headquarters to build tech capabilities. Southwest Airlines Vice President and Global Director of Innovation (India), Krishna Kallepalli said in an interview that the airline has already hired over a dozen people and plans to increase this number to 200 in the near future. He said that the new office wasn't intended to function as a "traditional back-office hub". He said: "We don't just want to do a shift and lift?and create another office." "We're...

The crew of the tanker gathered courage and navigated carefully along the route designated by Iran. They hugged the coast and manoeuvred their massive vessel between island checkpoints in the Strait of Hormuz. Agios Fanourios 1, a 330 metre long vessel, loaded with Iraqi crude and bound for Vietnam had been bottle-?up near the coast of Dubai, since late April. On May 10, the tanker set out for the Strait of Hormuz after an agreement with Iran, overseen by Iraq’s Prime Minister. The Iranian orders to the tanker are part of the complex multi-tiered system that Iran has used for...

State-owned Qatar Airways reported a'more than 7 percent decline in net profit on Wednesday, but it 'flagged progress?in re-building its global schedule while it navigates through the impact of Iran war. Since the beginning of the conflict in the Middle East at the end of February, thousands of flights have been cancelled due to temporary airspace closures. Qatar Airways posted a net profit of 7,08?billion qar ($1.94 billion), for the 12-month period ending March 31, as passenger numbers dropped from 43.1 to 41.8 million. In a recent statement, CEO Hamad Al-Khater stated that "we are actively rebuilding our global networks...

?At least 10 companies, including those from Indonesia, South Korea, and Singapore, have applied for Hong Kong IPOs this year, and others are considering it, according to an executive at the Hong Kong Stock Exchange. The market's robust IPO growth is attracting global?firms. LSEG data shows that although foreign companies raised a lot less money than domestic firms - 110 Chinese firms and Hong Kong firms raised a total of $36.4 billion in '2025 - the listings by 10 global companies would make this the best year since 2020 for international debuts. According to Johnson Chui, the head of global...

Two Democratic U.S. Senators on Tuesday criticized Transportation Secretary Sean Duffy's road trip, which was filmed for a web series and paid for by donors of the companies that his department regulates. "Your vacation was paid for by Boeing and Toyota, United Airlines, Enterprise, Shell and Royal Caribbean Group", said Kirsten Gillibrand. She is the top Democrat in a Senate Appropriations Subcommittee. She pointed out that USDOT regulates these companies and other donors. Gillibrand told a budget meeting that "this road trip does not smell right." "I don't think that it is right, and you should explain to Americans why...

British Airways delayed the resumption of flights to Dubai, Doha and Tel Aviv for a month to August 1, according to its website. Since the U.S. and Israeli war against Iran began late in February, a number of airlines have cancelled flights to or from?the area. British Airways spokesperson said that due to the current situation in the Middle East, they have altered their flight schedule to give more clarity to 'our customers. IAG's long-haul carrier plans to cut flights to the Middle East once?services return, and permanently drop Jeddah from its list of destinations, as it announced in April....

The 'Australian Government' said that it had secured three shipments of jet-fuel from China, and additional urea for agricultural use from Brunei. This is to boost fuel and fertiliser stocks amid the disruptions caused by Iran War. After discussions between Premier Li Qiang and Prime Minister Anthony Albanese, the government announced that more than 600,000. barrels of jet fuel, or approximately 100 million litres would be arriving in early June. Beijing has been limiting fuel exports to protect the domestic supply since March after the Strait of Hormuz was closed, disrupting crude and fuel flow. The government of Australia said...

Middle Eastern carriers increased capacity following the Iran War, and airlines outside the Gulf have rerouted flights between Europe & Asia away from major hubs within the region. The latest flight information is listed below alphabetically: AEGEAN AIRLINES On May 21, Greece's biggest carrier will resume its flights from Heraklion, Rhodes, and Larnaca to Tel Aviv. Thessaloniki-Tel Aviv flights are canceled until June 26. Flights to Riyadh,?Amman and Erbil will resume on May 21. The airline has cancelled flights to Dubai until June 29 and Erbil and Baghdad till July 2. AEROFLOT The Russian flag carrier has announced that it...

China's 'commerce ministry' described the tariff, aircraft and agricultural deals as "preliminary". This was in response to Donald Trump's visit this week. Trump left Beijing Friday, after two days of talks between President Xi Jinping and Trump that were filled with pageantry and warm words but with limited details on tangible outcomes in trade and investment. The ministry announced on its website that the two parties had agreed to create an investment board and?a trade panel to negotiate reciprocal tariff reductions on specific products, as well as larger cuts on unspecified goods, including agricultural products. Beijing also said that both...

Three sources familiar with the issue said that?tungsten and rare earths, as well as gallium, were shortlisted for the first joint stockpile of critical minerals to reduce reliance on China. One of the sources, and a third source, said that the EU was also in talks with major ports, including Rotterdam, the largest port in the Netherlands. They are looking at storing the minerals there. This is one of the most concrete measures taken by the EU to protect its economy against Beijing's dominance over the production of critical minerals, which are vital to defence, semiconductors, and energy transition. They...

Three sources with knowledge of the matter said that the European Union has shortlisted tungsten and rare earths for its first joint stockpile. The goal is to reduce its dependence on China. One of the sources, and a third source, said that the EU was also in talks with Rotterdam, the largest port in the Netherlands. This is one of the most concrete measures taken by the EU to protect its economy from Beijing, which has a 'dominance' in the production of critical minerals that are vital to defence, semiconductors and energy transition. After Beijing's export restrictions sent shockwaves throughout...

The Thai police has charged a driver with negligence following a crash that occurred?on Saturday, central Bangkok. A 'freight train' collided with a bus at a rail crossing. Eight people were killed and 32 injured. Urumporn Koondejsumrit is the head of the Makkasan Police Station. He said that evidence showed reckless behavior leading to deaths. He said that the bus driver would be charged as well, but was still undergoing medical treatment. He said that investigators are looking into whether additional charges could be filed. The freight train struck a bus on?Saturday? that was stopped at a red traffic light....

Rescue officials and the deputy transport minister reported that at least eight people died and 32 others were injured after a train struck a bus in Bangkok and ignited a fire. Officials said that firefighters and rescue crews responded to the incident as fires consumed the bus and vehicles nearby near the Airport Rail Link station in Makkasan. They added that the crash involved motorcycles and cars. According to preliminary reports, the bus was stopped "on the tracks" at a red signal, which prevented the crossing barriers from closing. Deputy Transport Minister,?Siripong, Angkasakulkiat, told reporters that the preliminary reports indicated...

Redington, an Indian distributor of IT goods, has increased its use of air freight to keep products moving in the Middle East as the conflict in the area disrupts sea routes. This also affects supply and demand. Since the U.S. and Israel war against Iran began in February, air freight rates have risen as fuel prices are higher and sea shipments are disrupted. "A good chunk of it used to be shipped by sea, and a smaller portion by air." The Strait of Hormuz has been closed, so a lot of the product is now being transported by air. S....

A notice published by the London Metal Exchange on Thursday showed that China's Tsingshan Group has applied to have aluminium produced at its Hua Chin joint venture in Indonesia?available for delivery?on the London Metal Exchange. Hua Chin - where Tsingshan and Huafon Group are partnered by fellow Chinese company Huafon Group - would be the only Indonesian brand of high-grade primary aluminum to be accepted by LME, after state-owned Inalum. * The application is being made as Indonesia ramps up production and exports, potentially compensating shortages caused by war in the Middle East. According to a LME notice, the second...

Cummins raised its revenue forecast for the year?on May 5, supported by a?resilient market for its power generation equipment, and expectations of an improving North American on-highway vehicle market. In premarket trading, shares of the U.S. truck engines maker rose 4%. The company's revenue forecast for 2026 is now 8%-11% higher than its previous estimate of a 3%-8% growth. Generator sales were boosted by demand tied to the artificial intelligence-driven expansion of data centers. The CEO of?Rumsey stated that the North America truck market?began improving from a low cyclical level" during the third quarter. The Indiana-based firm had earlier?flagged a...

The Indian Foundation of Transport Research and Training said that truck rentals in India fell by 4% to 5% in April, after a 9% - 10% decline in March due to the Iran war and a lack of supplies in the main manufacturing hub. * The IFTRT reported a drop of between?15 to 20% of the cargoes that are sent from manufacturing hubs. This is especially true for?small and mid-sized enterprises, which?accounts for?70% or more of intra and interstate cargoes It said that increased arrivals of summer fruits, vegetables, and pulses boosted the agri-logistics market by 20 % - 25...

Australia's?AirTrunk?said Thursday that it would invest $3 billion in?building two hyperscale?data?centers?in Malaysia, doubling its existing business there. The two data centres, which will be located in Johor Bahru have a combined power of over 280 megawatts. They are also close to the existing AirTrunk data center campuses. AirTrunk said that the four data centers would have a capacity of more than 700 Megawatts and the investment value in Malaysia will be $6.8 Billion. AirTrunk CEO Robin Khuda said that the demand for cloud-based AI infrastructure in Asia-Pacific was growing faster than expected. "Our job is not only to be ahead...

Standard Chartered Bank announced on Tuesday that it had successfully arranged a $2.33billion syndicated finance facility?for a Standard 'Gauge -Railway?Project?in Tanzania. The money will be used to finance two stretches on a planned 1,219 km rail line linking the port and commercial capital of Dar es Salaam with?the lakeside town of Mwanza. The bank said that Yapi Merkezi, a Turkish company, and China's China Civil Engineering Construction Corporation would be responsible for the work. The bank added that funding was obtained from commercial banks, export credit agencies and development finance institutions. The bank said: "The construction of the Standard Gauge...

Indian shares dropped on Friday. They posted a 'weekly loss' as Middle East tensions led to higher oil prices. IT stocks also fell after Infosys and HCLTech issued weaker forecasts. The BSE Sensex fell 1.27%, while the Nifty 50 dropped?1.14%?to 23,897.95. After two weeks of gains, the benchmark indexes have lost 1,9% and 2,3% respectively. Iran has demonstrated its control over the Strait of Hormuz by releasing a video of commandos storming an?ship after the collapse of the peace negotiations, and the indefinite extension of the ceasefire?by U.S. president Donald Trump. Brent crude was hovering around $107 per barrel. The...

Indian shares fell on Friday as they headed for a third straight session of losses, pressured by rising oil prices due to Middle East tensions and a fall in IT stocks after Infosys released a weak revenue forecast. As of 9:37 a.m. IST, the Nifty 50 index fell 0.66% and the BSE Sensex dropped 0.76%. This week they are down by 1.4% and 1.8%, on track to end a winning streak of two weeks. On the day, all 16 major?sectors fell. Small-caps and midcaps both fell by about 0.5%. IT index fell 2.3% due to a drop of 3% in...