Asia

The looming tariffs by U.S. president Donald Trump could affect virtually all the goods exported to Vietnam's top market. These exports were worth over $142 billion in 2017, or around 30% of Southeast Asia's GDP. Vietnam was a beneficiary of the trade war Trump waged against China during his first term. However, Vietnamese officials and companies abroad are unsure how they will do under the new tariffs Trump has announced will go into effect on Wednesday. Vietnam, with a surplus of $123.5 billion and meeting several criteria, has the biggest trade surplus with the U.S. Here are some measures that...

Luiz inacio Lula da silva, Brazil's president, will meet Vietnam's leaders on Friday at Hanoi as he travels to the Southeast Asian country with a large delegation of businessmen to try to strengthen trade and economic links under the shadows of a trade war. Lula's visit comes at a time when Hanoi is under pressure to reduce its huge trade surplus by the Trump administration. Hanoi has also pledged to increase U.S. Imports, which includes farm products like soybeans that Brazil is the top exporter of to Vietnam. A Brazilian official familiar with the agenda stated that both countries will...

Ukrzaliznytsia (Ukraine's state railways), the largest cargo carrier in the country, announced on Tuesday that its online freight service had been hit by a massive cyber attack. The first outage reported was on Sunday, when the rail company informed passengers of a problem with its IT system. They were told to purchase tickets at the station or on the train. Later, the company said that its online systems were subjected a targeted large-scale cyber attack. Since the Russian invasion of Ukraine in 2022, trains have become the primary mode of transport for both domestic and international travelers. They are also...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Headlines Wood Group to continue takeover talks with UAE-based Sidara Heathrow's National Grid chief claims that the airport had "enough power" despite the fire shutdown Malaysia cracks down on Nvidia chips under US pressure James Hardie will buy Azek, a building products company for almost $9bn View the full article After a failed takeover attempt six months earlier, the British oilfield engineering and services firm Wood Group agreed to extend its deadline for talks....

The head of the industry lobby group, who represents Japanese oil refiners, said that concrete regulations and frameworks were needed to encourage airlines and supply chains to develop decarbonization efforts and use sustainable aviation fuel. Cosmo Energy Holdings is launching Japan's first home production of SAF, but cost-cutting challenges still remain. The country's goal to replace 10% of jet fuel by a cleaner alternative remains. As part of Japan's effort to combat climate changes, refiners are required to supply SAF that is equivalent to 10% their aviation fuel sales. This aligns with the global initiative to reduce carbon dioxide emissions...

Cosmo Energy Holdings will launch Japan's domestic production of sustainable aviation in April. This is a major step towards the country's target of replacing 10% jet fuel with an alternative that's cleaner, but there are still challenges to be overcome. Cosmo, Japan's third largest refiner, will make SAF using used cooking oil in its Sakai refinery, located in western Japan. Takeshi Takada said, "Our goal is for SAF to reach 300,000 Kilolitres in 2030, through both domestic production and imported SAF." As Japan fights climate change, it must align with global efforts to reduce carbon dioxide (CO2) from aircrafts. According...

The latest trade war escalation by Washington has put pressure on the shares of U.S.-based companies. Earnings in many sectors are expected to be affected, including those in automakers, retailers, and raw materials. Donald Trump has imposed 25% tariffs for imports from Mexico, Canada and the United Kingdom. The tariffs cover more than $900 billion in annual U.S. exports to Mexico and Canada. Trump doubled the duties on Chinese imports from 10% to 20% in order to punish Beijing for the U.S. overdose crisis. The duty is on top of the 25% tariffs that were imposed in his first term....

According to UN data, U.S. president Donald Trump announced plans to impose tariffs on virtually all Vietnam's exports to the top market. These goods, which accounted for more than $142 billion in sales last year, amounted to about 30% of Vietnam’s GDP. Vietnam has benefited from Trump's trade war against China during his first term. However, Vietnamese officials and foreign businesses are uncertain of the outcome. Vietnam is one of the biggest surpluses in the U.S., and it meets many criteria for reciprocal tariffs. Here are some measures that Vietnamese officials are either considering, or have already flagged as possible...

According to UN data, U.S. president Donald Trump announced plans to impose tariffs on all Vietnam's exports to the top market. These goods, which accounted for more than $142 billion in sales last year, or about 30% of Vietnam’s GDP, could be affected. Vietnam has benefited from Trump's trade war against China during his first term. However, Vietnamese officials and foreign businesses are uncertain of the outcome. Vietnam is one of the biggest surpluses in the U.S., and it meets many criteria for possible reciprocal tariffs. Here are some measures that Vietnamese officials have suggested, are considering, or may help...

A number of Chinese SAF plants have been delayed due to a lack in government guidance. This is preventing them from selling the fuel either domestically or internationally. Reports from May last year stated that more than $1 billion was being invested by companies to build China's very first aviation fuel plants, which will be used for both domestic and export demand. Beijing, however, has not yet announced the mandatory use of lower-carbon aviation fuel on the second largest market in the world, disappointing the industry's expectations. The industry had hoped that the government would announce by the end 2024...

According to UN data, U.S. president Donald Trump announced plans to impose tariffs on all Vietnam's exports to the top market. These goods, which accounted for more than $142 billion in sales last year, or about 30% of Vietnam’s GDP, could be affected. Vietnamese officials and companies take the threat seriously, as the Southeast Asian country has one of largest surpluses in the world with the U.S. A survey found that most U.S. companies in Vietnam expect disruptions and layoffs should duties be imposed. Here are some measures that Vietnamese officials have suggested, are considering or may help avoid tariffs....

JX Advanced Metals' (JXAM) shares will be listed in a $3 Billion share offering. This would be Japan's largest IPO since seven years. JXAM set an indicative offering price of 862yen ($5.64) for each share in advance of its Tokyo Stock Exchange listing on March 19. Final pricing will be set on March 10. Eneos plans to sell 465.2 millions shares of JXAM, with an option to purchase up to 69.8million shares. According to calculations by, the share sale could raise up to 461 billion dollars ($3.01 billion), giving Eneos a value of 800 billion dollars. Earlier this week, it...

Calculations showed that the average daily supply of natural gas to Europe through the TurkStream pipeline, owned by Russian energy giant Gazprom, fell 19.4% from a year earlier in March. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to renew a transit agreement with Moscow that expired in January. Based on data provided by the European Gas Transmission Group Entsog, calculations showed that Russian gas exported via the TurkStream pipe fell to 45 million cubic meters (mcms) per day from 55.8 millions cubic metres per days in February. This was also...

PetroChina, Asia's biggest oil and gas producer announced on Sunday that its annual net profit had risen 2%, to a new record, due to moderately increased production, which helped offset lower oil price. PetroChina reported in a filing with the Shanghai Stock Exchange that its net profit in 2024 was 164.7 billion Yuan ($22.68billion), compared to 161.1 billion Yuan in 2023. Revenues also decreased 2.5%, to 2,938.0 Billion Yuan. CNOOC Ltd, a domestic peer company, reported an 11.4% increase in net profits to 137.9 bn yuan on Thursday. However earnings at the refining giant Sinopec dropped 16.8% to 50.3 bn...

The office of President Yoweri Mueveni said that Uganda signed an agreement on Saturday with UAE-based Alpha MBM Investments to acquire a 60% share in the crude oil refinery at Kabaale in Hoima District. The country's state-run Uganda National Oil Company will retain the remaining 40% stake in the 60,000-barrel-per-day refinery, according to the statement. In addition to the refinery agreement, Ugandan and UAE investors signed five more agreements in different sectors. Uganda's Energy Minister said earlier this year that the country is in negotiations with Alpha MBM Investments to build a planned oil refinery worth $4 billion. Website of...

Two sources who have direct knowledge of this matter, but spoke on the condition of anonymity, said that the talks to restart Kurdish crude oil exports via the Iraq-Turkey pipe are at a standstill due to a lack in clarity regarding payments and contracts. Negotiations, which began in late February, failed to resolve a standoff of nearly two years that had halted the flow of goods from Iraqi Kurdistan, in the northern part of the country, to Turkey's Mediterranean Port of Ceyhan. Last month, it was reported that the Trump administration has asked Iraq for a restart of the shipments...

Transneft, the Russian oil pipeline monopoly, said Friday that its net profit fell by around 5% to 287.7 roubles (about $3 billion) last year due to rising costs and taxes. In an effort to reduce its budget deficit, the Russian government increased taxes on corporate profit. Transneft has increased its tax rate from 20% to 40% for the years 2025-2030. Transneft operates Russia's 42,000 mile (67,000 km) long oil pipeline network. It has stated that it could run out of cash in 2026, and it may have to suspend large investment projects because of the tax increase. The company reported...

The company reported on Thursday that the largest Ukrainian railway, Ukrzaliznytsia (state-owned), has partially restored its online services following a massive cyber attack which affected passenger and freight transportation systems. The first outage reported was on Sunday, when the rail company informed passengers of a problem with its IT system. They were told to purchase tickets at the station or on trains. Later, the company said that its online systems were subjected a targeted large-scale cyberattack. Ukrzaliznytsia announced on Telegram that the online sales system has been restored as a backup for the purchase of train tickets or their refund....

EACOP Ltd, the company responsible for building Uganda's EACOP oil pipeline, announced on Wednesday that it had closed its first external financing round from a consortium of institutions which included commercial banks and Afreximbank. Standard Bank, Stanbic Bank Uganda, KCB Bank Uganda, and the Islamic Corporation for the Development of the Private Sector in Saudi Arabia are among the financiers. The statement stated that "the successful closure of this first tranche is a significant landmark." The statement did not give a value to the financial backing. Uganda's Energy Minister said in October that the partners of the $5 billion East...

In a group message that accidentally revealed plans by the U.S. for an attack on Yemen's Iran aligned Houthis, senior Trump officials including Vice President JDVance and Defense Sec Pete Hegseth accused Europe "freeloading" The attacks by the Houthis on ships in Red Sea have impacted trade between Europe and the U.S. What is the situation in the Red Sea? In response to threats by the Houthis to resume attacks on ships crossing the Red Sea, the U.S. launched massive military strikes against them on 16 March that resulted in the death of at least 31 people. The Houthis, a...

One of the topics on the agenda is a possible relief in the sanctions against Russia, which includes its vast energy sector. The oil and gas sector is a major source of revenue for Moscow. It has been under Western sanctions since 2014 when Russia annexed Crimea from Ukraine. These sanctions were tightened considerably after Russia invaded Ukraine 2022. Washington announced its most severe round of sanctions in January 2010. Here are some implications of a possible reversal. RUSSIA TRADE with US and EU Before the war, Russia was the biggest supplier of fuel oil in the United States. It...

Shell's annual report, published on Tuesday, said that the outcome of a Russian prosecution asking Shell to pay Gazprom 1,5 billion euros ($1.62billion) for alleged unpaid deliveries of gas in 2022 was "uncertain". Shell had a number of projects in Russia, before Moscow sent troops into Ukraine to conduct what they called a "special military operation" in February 2022. Shell had a stake on the Pacific Island of Sakhalin, which is controlled by Kremlin Gazprom. Shell left Russia after Russia took control of the plant as a result of sanctions imposed by Western countries. This meant that Shell had ended...

The fire that raged at an oil depot hit by a drone in southern Russia for the fifth day on Sunday, according to the regional administration, continued to burn as firefighters attempted to put out the flames at the facility, which delivers Russian crude into the Caspian Pipeline. Russia accused Ukraine of being responsible for the drone attack that took place on 19 March, claiming Kyiv violated a ceasefire proposed on attacks against energy sites. The depot is only a few kilometers away from the Kropotkinskaya Pumping Station of the Caspian Pipeline Consortium, which was also struck by a drone...

The Kremlin announced on Monday that the Russian moratorium on attacking energy infrastructure in Ukraine was still in effect despite reports of Ukrainian attacks against Russian energy infrastructure targets. Dmitry Peskov, spokesman for the Kremlin, told reporters that Russia is monitoring the situation. The United States can do the same thing and reach its own conclusions. In a phone call on Tuesday, last week, the Russian president Vladimir Putin and his U.S. counter-part Donald Trump agreed to observe a 30 day ceasefire on Ukrainian targets for energy. Peskov replied that "there haven't been any other orders given by the president"...