Asia

The U.S. Department of Justice's documents reveal that embattled financier Jeffrey Epstein attempted to create a network of powerful political figures and businessmen in the Middle East. DP World announced that Sultan Ahmed Bin Sulayem resigned from his position as chairman and chief executive. Two sources who have direct knowledge of the matter said that the decision was made after Bin Sulayem’s name appeared on the Epstein files and his relationship with a late convicted sex offender came under increased scrutiny. Bin Sulayem and Epstein exchanged emails in which they discussed sexual relationships between Bin Sulayem and women Epstein had...

Show reports that an?arbitration suit filed in Hong Kong by the owners of the global?logistics firm Access World could cause financial risk for the group. This could have a ripple effect?throughout international metals markets. In a statement filed in October by Access?World's?accounts, it was stated that "a material uncertainity exists which may cast doubt on its ability to continue as a continuing concern". It linked this to a $14.8million arbitration claim made against Global Capital Merchants. Access World, a major logistics player that owns and rents warehouses for metals, including copper, has not revealed who made the claim or why....

Accounts seen by show indicate that an arbitration case filed in Hong Kong, against the owners, of the global?logistics firm Access World, could cause financial risk for the group, with ripple effects on international metal markets. In a statement filed in 'Access World's accounts?last October, it was stated that "a material uncertain exists which?may -cast doubt on the group?s ability to continue as a?going concern". It linked this to an arbitration claim of $14.8 million filed against Global Capital Merchants. Access World, a major logistics player that owns and rents warehouses for metals, including copper, has not revealed who made...

Officials said that Russian forces had pounded Ukrainian energy infrastructure in the days before a new round of peace talks, killing three workers and leaving tens thousands without heat or electricity. Volodymyr Zelenskiy, President of Ukraine, condemned the overnight attacks on 12 Ukrainian regions. The strikes occurred hours before scheduled trilateral talks in Geneva between Kyiv and Moscow. Zelenskiy, writing on?X and calling for "justice" and "strength", said that the combined strike was calculated to cause as much harm as possible to our sector of energy. This winter, Russia has repeatedly attacked Ukrainian energy facilities, knocking out heating and power....

An Iraqi-Emirati consortium is planning a $700 ?million subsea-and-terrestrial data cable linking the United Arab Emirates to ?Turkey via Iraq, one of the project's backers said, just over a ?week after the announcement of ?a Saudi-backed fibre-optic project in ?Syria. Gulf neighbours Saudi Arabia and UAE each try to tap into the demand for connectivity in this region and become hubs of AI infrastructure including data centers amid a wider economic and geopolitical rivalry across the region. WorldLink is the name of the project between Iraq and the UAE. It will consist of an undersea fiber optic cable that would...

An Iraqi-Emirati consortium plans a $700 million subsea-and-terrestrial ?data cable linking the United Arab Emirates to ?Turkey via Iraq, one of the backers said, just ?over a week after ?announcement of a ?Saudi-backed fibre-optic project ?in Syria. Saudi Arabia and the UAE, two Gulf neighbours, are competing to meet the growing demand for connectivity and data centres in the region. Ali El Ekabi of Tech 964, one of three consortium members, said that the Iraqi-UAE WorldLink project would consist of an undersea fiber optic cable running from Fujairah, UAE, to Iraq's Faw Peninsula on the Gulf, which will then 'then...

The disaster management office announced on Monday that at least 59 people were killed by Cyclone Gezani, which struck Madagascar in the last week. It is assessing the impact of the second tropical storm to strike the Indian Ocean island nation. According to the National Bureau of Risk and Disaster Management, (BNGRC), the cyclone caused 16,428 people to be displaced, while 15 remain missing. 804 people were injured, and 423,986 others were affected. Gezani swept through the country only 10 days after Tropical Cyclone Fytia, which killed 14 people and caused 31,000 to be displaced. Gezani's peak winds were 185...

Each year, hundreds of millions of Chinese people travel across the country during Lunar New Year to visit their families or for sightseeing. This is the largest annual human migration in history. The Lunar New Year travel rush or "Chunyun", as it is called in?Chinese can be seen as an indicator of the health of the economy and a test for its vast transportation system. How long is it? The Lunar New Year travel season began on February 2 and will last for 40 days. The Spring Festival, or the New Year celebrations, is known as an official public holiday...

The governor of Russia's Krasnodar Region said that a Ukrainian drone had 'damaged' the 'Black Sea port' of Taman in Russia, which handles oil, grain, and coal, among other commodities. Veniamin kondratyev, in a Telegram post, said that two people were injured when an oil storage tank and warehouse, as well as terminals, suffered damage?in Volna Village, which is the site of Taman Port. Kondratyev stated that more than 100 people worked to extinguish several fires in the port. Separate attacks on the resort city of Sochi and the village of Yurovka near the seaside town Anapa had caused less...

British International Investment, the UK's development investment agency, welcomed DP World’s new chief executive on?Friday and said it would resume investments with the Dubai-based port operator. A spokesperson for BII stated, "We are pleased with today's DP 'World decision and look forward to advancing our 'partnership' to develop key African trading 'ports in order to unlock the 'continent's global 'trading potential." BII stopped new investments with DP World earlier this week due to alleged ties between Jeffrey Epstein and former Chief Executive Sultan bin Sulayem. La Caisse, Canada's second largest pension fund which halted new investments with DP World due...

Three sources who are directly familiar with the matter have confirmed that CME Group will approve Taiwan and Hong Kong to be warehouse locations for aluminum. This is as the U.S. commodity exchange intensifies its competition against the London Metal Exchange (LME) Asia. The new locations planned would be a major expansion for CME, as the region accounted last year for two thirds of the global production of metals used in packaging and transportation. CME's Asian warehouse footprint is currently limited to Malaysia, Singapore and South Korea. C. Steinweg and Pacorini Global Services, warehouse operators in Taiwan's port of Kaohsiung...

The country's disaster-management office reported that?Fierce winds? left a?trail?of destruction on Madagascar after?Tropical? Cyclone Gezani struck the island. At least 31 people were killed and another four are still missing. In an updated report, the BNGRC (National Bureau for Risk and Disaster Management) reported that 29 of the deaths occurred in Toamasina - the island nation's second largest city and the most impoverished in the Indian Ocean. Two other deaths occurred in a nearby district. Residents of Toamasina and the surrounding area described scenes as chaos when the cyclone hit land late Tuesday. "I've never felt winds like this before......

The Port of Los Angeles is the busiest U.S. ocean gateway. Exports fell by 8% in January, to the lowest output monthly in almost three years. Seroka, after the Port of Los Angeles handled 104.297 20-foot equivalent unit (TEU) of loaded export containers in January, said that "exports to China are?dismal". The aggressive tariffs of President Trump have disrupted global trade. Retaliatory trade duty from China and other countries has hit U.S. farmers and exporters particularly hard. Soybean Seroka stated that shipments to China from the Port of Los Angeles dropped by 80% in the past year. He also said...

Karel Havilicek, Czech Economy Minister, said that the Czech Republic is now offering a small amount of oil to Slovakia via an eastward flow through 'the Druzhba Pipeline' after westward flows from Ukraine were stopped following an attack last month on the pipeline. After expanding a?alternative supply route, the Czech Republic stopped using Russian supplies through Druzhba in 2013. They have also mentioned the possibility of reversing flow from the Czech section of the pipeline into Slovakia. Havlicek said to? Havlicek told? Havlicek wrote in a message that he was ready to start immediately preparing technical and investment measures and...

Hungary and Slovakia asked Croatia for help in securing Russian oil. Hungarian firm?MOL released strategic crude reserves following disruptions to the flow of oil via Ukraine, which both countries blamed on Kyiv. Kyiv's Foreign Ministry?last week claimed that a Russian attack against a Ukrainian.pipeline is responsible for the halt of flows into Eastern Europe since?January 27. Andrii Sybiha, Ukrainian Foreign Minister, posted a picture on X showing firefighters and what he called Druzhba Pipeline infrastructure on fire. He accused Hungary of failing to comment publicly on the incident during two weeks due to its ally Russia being at fault. Hungary...

Hungary's Foreign Minister said that Slovakia and Hungary have asked Croatia to help deliver Russian oil after Ukraine was disrupted and there were conflicting accusations about who is to blame. Kyiv's Foreign Ministry said that a Russian attack on the Druzhba Pipeline in Ukraine on 27 January knocked out oil flows to Eastern Europe. Andrii Sybiha, the Foreign Minister of Ukraine, posted a picture on X showing firefighters and what he described as Druzhba infrastructure on fire. He added that Hungary hadn't publicly commented because Russia was responsible. Hungarian Foreign minister Peter Szijarto rebuffed Kyiv on Monday, stating that Ukraine...

Robert Fico, the Slovak prime minister, accused Ukraine on Sunday of 'delaying the start-up of a pipeline that carries Russian oil to Eastern Europe via Ukraine to pressure Hungary into dropping its opposition to Ukraine joining the European Union. Ukraine's foreign ministry said Thursday that Russian oil transiting through the Ukrainian portion of the Druzhba pipe and destined for Eastern Europe has been suspended since the 27th January due to an attack by Russia. Fico has maintained his relations with Moscow since its invasion of Ukraine 2022, and has accused European partners of prolonging war by providing weapons to Kyiv....

The 'Slovak Economy Ministry' said that the Druzhba oil pipeline has been interrupted in Slovakia. However, it expects the flow to resume within the next few days. The Ministry said that the interruption would not have any impact on Slovakia's energy supply and did not provide further details about the duration of the suspension. The Ukrainian foreign ministry announced on Thursday that the Russian oil transit via the Ukrainian portion of the Druzhba pipeline to Eastern Europe has been suspended since January 27 due to an attack by Russia. The suspension affects Hungary as well, since MOL's oil and gas...

These are the top stories from?Wall Street Journal. The?Wall Street Journal has not confirmed the accuracy of these?stories. The Central Intelligence Agency has released a video showing a disillusioned Chinese mid-level military officer. This is the latest step in a U.S. campaign to increase?human intelligence collection on Washington's strategic competitor. Pentagon sends the?largest,?most-advanced aircraft carrier of the Navy to the Middle East as the U.S. intensifies plans for an attack on Iran. The White House and Robert F. Kennedy Jr., the Health Secretary have announced that they will be launching a potential attack on Iran. The 'White House and Health...

Andrii Sybiha, Ukraine's foreign minister, said that the Russian attack on the Ukrainian branch of the?Soviet built Druzhba pipeline last month halted the flow of Russian oil into Eastern Europe. Ukraine transports Russian oil to Slovakia, Hungary and other countries despite its almost four-year war with Russia. Naftogaz, a Ukrainian oil and natural gas company, reported on 27 January that "Russia" had attacked one its facilities in the east of Ukraine. However, it did not say which facility. ?However city officials in Brody where Druzhba intersects the Brody-Odesa pipeline warned the populace about pollution caused by burning oil 'products. Sybiha...

Officials said that Russia bombarded?Ukraine overnight with ballistic missiles and drones, further damaging its energy system. Tens of thousands of people in Kyiv, Dnipro, and Odesa were left without heat, electricity, and water. Russia's winter campaign of strikes against Ukraine's electricity grid has intensified, forcing major cities to endure long periods of darkness and cold in freezing temperatures. Vitali Klitschko, the mayor of Kyiv, stated that the city's apartment buildings lacked heating Thursday, after the latest attack cut off the supply to 2,600 high rises. This is on top 1,100 apartments already affected by previous strikes. DTEK, a private energy...

The International Energy Agency reported on Thursday that Russia's revenue from crude oil and refined product exports increased in January as higher prices offset a drop in export volumes. The Paris-based IEA reported that exports revenues grew by $130 millions in January compared to December, reaching $11.1 billion. However, they were still down $4.6 billion year over year. The report also stated that the Russian crude oil and fuel exports decreased last month by?90,000. barrels per a day from December, to 7.5 millions barrels per a day. The international sanctions over Ukraine have put Russia under pressure, particularly by Washington's...

According to five people who are involved in the trade, registration data and interviews revealed that tens of thousands cars were being exported to Russia from China under gray-market schemes. These schemes often bypass Western and Asian government sanctions and the commitments made by automakers to leave the Russian market. In response to Russia's invasion of Ukraine in?2022, the sanctions and pledges were made. The trade of these cars, from Toyotas to Mazdas and German luxury models, continues to thrive partly because informal networks allow Russian dealers to order the vehicles through Chinese intermediaries. This is shown by interviews and...

Rosaviatsia, the aviation regulator in Russia, said that Russia will 'fly its tourists out of Cuba within the next few days and then suspend all flights till a jet-fuel shortage subsides. Both airlines have said that they will only operate passenger flights in order to bring tourists home from Cuba. The?administration of U.S. president Donald Trump has declared Cuba a "unusual and exceptional threat" to U.S. security, and announced that the communist-run Island will no longer be receiving oil from Venezuela. Washington has threatened?impose tariffs on other fuel suppliers like Mexico if they continue to supply fuel to the island....