Asia

A takeover offer for Malaysia Airports Holdings by a consortium consisting of the country's sovereign wealth fund and BlackRock has actually been extended for a third time this month to Feb. 4, a stock market filing on Monday revealed. The consortium, including Malaysia's sovereign wealth fund Khazanah and BlackRock's International Infrastructure Partners, has now secured an extra 45.63% stake since Jan. 17, the filing showed, bringing their overall control to 86.51%. The offerors likewise reduced the acceptance condition to at least 85%, and continued to provide 11 ringgit per share to purchase all remaining shares, offering the airports operator an...

Sources in the industry said that Russian exports of oil products by sea fell by almost 10 percent in 2024, after Ukrainian drone attacks damaged refineries. Higher funding costs as well as a government ban on gasoline exports added to the pressure from Western sanctions. Since the West imposed sanctions in 2022 over Moscow's military action in Ukraine, Russia has tried to access new markets, particularly in Asia and South America. Russia's oil companies have to increase crude exports to maintain revenue due to lower fuel exports. However, this option is limited to India, China, and Turkey who still purchase...

Industry executives say that companies transporting products around the globe are not yet ready to return the Red Sea route to trade in the wake a Gaza ceasefire agreement because they're uncertain if Yemen's Houthis would continue to attack ships. Houthi leader in Yemen said that if the ceasefire agreement between Israel and Hamas to end the Gaza war is violated, the Iran-aligned organization will continue its attacks against vessels and Israel. Since November 2023, the Houthi militia have carried out over 100 attacks against ships. They have sunk or seized two vessels and killed four seafarers. The severity of...

Freight rates for shipments of Russian oil from its western ports to India rose by 25% after the U.S. enforced sanctions on 183 vessels involved in Moscow's. energy exports a week ago, 3 trading sources said and. Reuters computations revealed. India, which is Russia's most significant market for oil, and China. are still purchasing Russian barrels using Washington's unwind. duration till March, while evaluating new risks, traders said. The expense of a voyage for an Aframax vessel from Russia's. Baltic ports to India rose to $6.0-6.3 million for a one-way. trip, from about $4.7-4.9 million a week earlier, the sources...

Industry data shows that Russia's seaborne exports of oil products fell by 9.1% last year to 113.7 millions metric tons as the country's refineries were hit with a number of challenges, including Ukrainian drone attacks and an export ban. They also faced falling prices, higher input costs, and a drop in oil prices. Ukraine targeted several Russian fuel and refinery facilities including Lukoil’s Volgograd refinery and Gazprom’s Omsk oil refining facility in western Siberia. Also, Slavyansk, Novoshakhtinsk, and Rosneft’s Black Sea oil refinedry in Tuapse were targeted. Market sources reported that Russian refineries were also under financial pressure due to...

The private equity firm TPG, along with the Russian state-owned companies Rosatom and Transneft, won Friday their bid to stop Ziyavudin Magiomedov from bringing a $14 billion London suit against him for an alleged conspiracy involving his assets. Magomedov filed a lawsuit against the companies, as well as several others in London's High Court. He claimed that his arrest for embezzlement on charges from 2018 triggered a Russian government-sponsored scheme to strip him his valuable port operators. All defendants denied the allegations, and TPG's attorneys argued last year that the case should be dismissed. They accused Magomedov of making "preposterous...

U.S. private equity company TPG and Russian state-owned companies Rosatom and Transneft on Friday won their bid to block jailed magnate Ziyavudin Magomedov's $14 billion London claim over a supposed conspiracy to remove his assets. Magomedov sued the business and several others at London's. High Court, alleging his 2018 arrest on embezzlement charges. triggered a Russian state-supported scheme to remove him of his. holdings in valuable port operators. The accuseds all rejected the accusations and last year. argued that the suit ought to be thrown away, with TPG's legal representatives. accusing Magomedov of cooking up preposterous claims. Judge Robert Bright...

Shipping data from LSEG Eikon on Thursday showed that a tanker under the new U.S. Sanctions is discharging Russian Oil at a port operated in East China by Shandong Port Group. This is the first tanker to be discharged in Shandong Province since the announcement of sanctions last week. Shandong is home to many independent Chinese refineries, which have been major importers of Russian crude oil. Those in the industry will closely monitor the implementation of the new measures. Traders said that the sanctions include a grace-period exempting cargoes unloaded and loaded before January 10 but still included a period...

Sibur, Russia's largest liquefied petroleum gas (LPG) manufacturer, cut exports through the Baltic Sea port of UstLuga, its primary exporting gateway, by 37%. to 570,000 metric lots in 2015, according to traders and LSEG. shiptracking data. Data for 2024 has not yet been offered on Russia's. total exports of LPG, which were struck by European Union sanctions. last year. Traders have said some purchasers started to shun Russian. LPG in 2022 as a precautionary move before the restrictions. The EU sanctions consist of some exemptions, consisting of for. butane and isobutane, which are used as a feedstock for. production of...

A tanker topic to the brand-new U.S. sanctions is releasing Russian oil at a port operated by Shandong Port Group in east China, delivering information on LSEG Eikon revealed on Thursday. The tanker is the very first because last week's sanctions announcement to discharge in Shandong province where a lot of China's independent refineries that have actually been big importers of Russian crude are based. It will be kept track of closely by those in the industry nervous to understand how strictly the steps will be implemented. The sanctions consist of a grace period excusing cargoes packed before Jan. 10...

Swiss chocolate maker Barry Callebaut and Singaporebased food group Olam have been buying fewer cocoa beans from Ivory Coast because midDecember after an increase in port costs at Abidjan and San Pedro, industry sources said on Thursday. 7 cocoa purchasers based in the regions of Soubre, San Pedro, Duékoué and Meagui informed Reuters they are charging exporters, including smaller operators, more than an authorities cap in order to benefit from an increase in international cocoa rates towards record levels. We have actually needed to decrease our cocoa purchases in the bush because mid-December due to the fact that of price...

The following are the leading stories on the business pages of British newspapers. Reuters has not validated these stories and does not vouch for their precision. The Times - Britain's ASOS Plc flagged a one-time problems charge going beyond $200 million in fiscal 2025 due to the mothballing of its Atlanta circulation centre on Wednesday, as the online style seller navigates a tough business environment. - Leon Black, co-founder and previous CEO of Apollo Global Management, has stated that he will not back a ₤ 550. million takeover of the Telegraph, compounding unpredictability over. the future ownership of the newspaper....

Indonesia will rely more on personal financiers for its organized 71 gigawatt expansion in power capacity over the next years, with the government to focus on transmission for eco-friendly generation, the nation's energy minister stated on Monday. Bahlil Lahadalia said state energy Perusahaan Listrik Negara's (PLN) 2025-2034 power supply strategy will include 71 GW of brand-new power capacity and 48,000 circuit-km of transmission lines, which is comparable to 8,000 km (4,971 miles) straight line. Some 60% of the prepared brand-new power plants will be offered to the economic sector, he said at an occasion marking the launch of 26 power...

Russia may supply as much as 55 billion cubic metres (bcm) of gas annually to Iran, Russian President Vladimir Putin said on Friday, as Moscow diversifies its gas flows after a significant fall in exports to Europe. Since its full-scale intrusion of Ukraine in 2022, Russia has lost its dominance of the European gas market, when a crucial source of earnings for Kremlin-controlled Gazprom. Putin, speaking at a joint press conference with his Iranian counterpart Masoud Pezeshkian, stated Russia's gas materials to Iran might ultimately reach 55 bcm per year, but it would need to start with small volumes of...

India Prime Minister Narendra Modi on Friday invited investments from all sectors that see their future in movement, promising federal government support at every level on the planet's third largest cars and truck market. India's car industry, which grew by about 12% in 2015, will broaden further as an outcome of factors including its large youth population, increasing middle class, and fast urbanisation, Modi said. He was speaking at the Bharat Movement International Exposition in New Delhi, to an audience of worldwide and Indian executives, consisting of Toshihiro Suzuki, president of Suzuki Motor Corp, and Anish Shah, managing director of...

The Kremlin said on Thursday that Russia was prepared to offer gas to Moldova's breakaway Transdniestria region, however needed logistical support from Moldova to make that occur. Vadim Krasnoselsky, the leader of the separatist enclave, said on Wednesday that he expected Transdniestria to get Russian gas once again soon to satisfy its requirements. 10s of thousands of people there have lacked gas or winter season heating since Jan. 1, when Russia's Gazprom GAZP.MM suspended gas exports to the area, pointing out an unpaid Moldovan debt of $709 million that Chisinau does not identify as valid. Moscow blames the suspension of...

Finland's customizeds workplace stated on Thursday it had no grounds to pursue a criminal examination versus the team of the Eagle S oil tanker over the ship's Russian fuel cargo. Finnish cops last month took the tanker and stated they suspected the vessel had actually harmed a. Finnish-Estonian power line and four telecoms cable televisions by dragging its anchor throughout the seabed. The customs workplace has separately seized the freight of. unleaded gas and diesel, and repeated on Thursday that. these are classified as items subject to sanctions against. Russia. However as the ship went into Finnish territorial waters at....

Team on board an oil tanker implicated of undermining undersea power and interactions cable televisions in the Baltic Sea were poised to cut other cable televisions and pipelines when Finnish authorities boarded the vessel last month, the head of the Finnish examination said. Baltic Sea nations are on high alert after a string of power cable, telecom link and gas pipeline outages since Russia attacked Ukraine in 2022. Leaders of the NATO member states around the Baltic Sea are set to fulfill in Helsinki on Tuesday to talk about the alliance's response to the threat. On Dec. 26, Finnish authorities...

Almost 500,000 metric tons of Russian oil items are trapped on tankers hit by U.S. sanctions, LSEG information revealed on Wednesday. On Jan. 10, new Russia-related sanctions targeted more than 180 vessels and insurance companies, adding to the impact of comparable constraints enforced by UK and Europe Union. The vessels under the most recent U.S. sanctions include nine tankers that packed oil items at Russian Baltic and Black Sea ports in December and January. Four of them - Cup, Aquatica, Turaco and Onyx - are carrying in overall around 280,000 lots of fuel oil, predestined for India, Turkey and Singapore,...

China's State Grid will invest a record over 650 billion yuan ($ 88.7 billion) in the country's power grid this year, staterun CCTV said on Wednesday, up from 600 billion in 2024. The nation's main national grid operator said it would focus on optimising the power grid, reinforcing circulation infrastructure and offering the premium development of renewable power. China's massive construct out of eco-friendly power plants needs increased financial investments in the grid facilities, which professionals have warned might otherwise be overwhelmed. State Grid is likewise building huge long-distance ultra-high voltage (UHV) transmission lines to bring power from mega-bases in...

The Kremlin stated on Wednesday that Russia's concentrate on the new U.S. sanctions on the oil sector was to minimise their effect however that nothing was ruled out in relation to a possible action from Moscow. We are carefully evaluating the circumstance, Kremlin representative Dmitry Peskov stated. The point is to take those measures that would minimise the repercussions of these unlawful procedures which would best serve the interests of our nation, to start with, and our companies. When asked particularly about a possible Russian reaction to the U.S. sanctions, Peskov stated: Nothing can be ruled out. Whatever is best...

Pakistan will cut the power tariff for operators of electric vehicle charging stations by 45% as part of the ongoing reform of the energy sector, the country's Energy Minister Awais Leghari stated on Wednesday. The Cabinet agreed to drop the tariff to 39.70 rupees ($ 0.14) per unit from 71.10 rupees ($ 0.25) previously. Leghari did not say when the new tariff program would be rolled out. We want the financier in addition to the customer to benefit from this policy, he informed an interview in Islamabad, including that lower tariff EV stations would motivate even those using two-wheelers or...

Thick fog and winter delayed train and flight departures in several parts of northern India, including its capital New Delhi, on Wednesday. India's weather condition workplace released an orange alert for Delhi, the second highest warning level, forecasting dense to very thick fog in many areas. Visibility at Delhi's main airport was in between no to 100 metres (328.08 feet), the weather office said, and more than 40 trains throughout northern India were delayed because of fog, local media reported. Some aircraft departures from Delhi were delayed, airport authorities stated on social networks platform X, warning that flights doing not...

Iraq and Britain have actually concurred on a trade package worth up to 12.3 billion pounds ($ 14.98. billion) and a bilateral defence deal, the Iraqi and British. prime ministers stated in a joint statement on Tuesday. The offer, imagining more than 10 times the overall of. bilateral sell 2024, was revealed after a meeting in between. Iraqi Prime Minister Mohammed Shia al-Sudani and British. equivalent Keir Starmer at the latter's Downing Street workplaces. It includes a 1.2-billion-pound job in which. British-made power transmission systems will be utilized for a grid. interconnection task between Iraq and Saudi Arabia, too. as...