Asia

Adani Ports & SEZ, India's largest private operator by volume, posted a 10.5% increase in profit for the March quarter on Thursday. This was boosted largely by a rise in cargo volumes. The company reported a net profit for the third quarter of?33.29billion rupees ($350.03m), up from 30.14billion rupees one year earlier. Analysts say that disruptions in the Strait of Hormuz caused shippers to reroute their cargo. This has led to an increase in container volumes, transshipments, and'stopovers' at Adani Ports. The firm's ports business, which is its largest, saw a 30.5% increase in revenue, while its logistics division grew...

The U.S. and Israel war on Iran is causing financial stress for companies in Australia and New Zealand. Higher fuel prices are stoking inflation, reducing consumer and business confidence and weighing on corporate earnings. Below are some of the companies from Australia and New Zealand who have reported an impact on their business due to the Middle East conflict. Air New Zealand, New Zealand's flag carrier, announced that it would be raising fares in response to the volatility of jet fuel prices in early March. It was one of the first airlines to do so. The airline announced on April...

Shipping data revealed on Wednesday that six ships, a small fraction of the normal traffic, have crossed the Strait of Hormuz over the past 24 hours. The U.S. The United States and Iran are still unable to reach a deal that would reopen this vital waterway. According to SynMax's satellite analysis and Kpler ship tracking data, the vessel traffic was mostly through Iranian waters, and included a chemical tanker called Vast Plus, which is under US sanctions. The majority of ships were dry bulk carriers. It was not possible to determine if there had been more than six vessels transiting...

AAHK (Airport Authority Hong Kong) has priced a HK$19billion ($2.4billion) three-tranche Senior Bond?offering in order to restructure debt and fund capital spending. AAHK said that the government-owned operator, Hong Kong International Airport, priced HK$10 Billion of bonds for three years at 2.90%; HK$6.5 Billion of bonds for five years at 2.97%; and HK$2.5 Billion of bonds for 10 year at 3.38%. According to a report on Tuesday, citing a 'term sheet,' AAHK is launching the bond sales as passenger traffic?has risen?and the airport has increased?use?of its three-runway system. AAHK stated in a statement released on Wednesday that the offering attracted...

Brandenburg said that up to 80% of crude supplies for 'Germany's PCK Schwedt refining plant are guaranteed in May. Germany is seeking alternatives to replace lost supplies following Russia's announcement to stop deliveries via the Druzhba pipeline on May 1. Dietmar W. Woidke, the state premier, said on Wednesday that "PCK's capability utilisation is stable. Crude oil supplies are secured up to 80% by May.?And jobs are protected." Woidke said that the situation allowed him to be optimistic about the future. He added that German officials worked with partners to find a solution for the refinery which supplies parts of...

Investors reacted positively to the United Arab Emirates decision to leave OPEC and the stalemate of the 'Iran conflict. The United Arab Emirates announced on Tuesday that it would leave OPEC, dealing a major blow to the alliance. The UAE is one of OPEC’s biggest producers. Its departure will weaken the group’s grip on the global oil?supply, and further its rift with Saudi Arabia. In Abu Dhabi, the share index rose 0.8%. This was boosted by a rally of companies linked to the oil giant?Abu Dhabi National Oil Company. ADNOC Drilling grew by 8.3%. ADNOC Gas grew by 3.1%. ADNOC...

These are the most popular stories from 'the New York Times' business pages. These'stories' have not been verified and we cannot vouch for their accuracy. The?U.S. Federal Communications Commission ordered an early license?review of the network's television stations after a joke made by late-night host Jimmy Kimmel led to calls from the White House that ABC fire the comedian. Federal Communications Commission ordered a license review of the network's TV stations. Pernod Ricard & Brown-Forman announced that they had ended their merger talks because the French spirits firm and 'the Kentucky-based owner Jack Daniels'?whiskey couldn't?agree on terms. The U.S. Supreme...

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...

Officials said that at least 'two' people died when two trains collided late Monday in the city of 'Bekasi. It is located near Jakarta, Indonesia. The collision occurred in Bekasi station between a commuter train and a long distance train, according to the spokesperson for?the commuter train operator Karina Amand. She added that "we're focusing on evacuating both passengers and crew". Franata Wibowo, spokesperson for a local train operator, confirmed to a broadcaster Kompas TV at least two deaths. Could not confirm the death count immediately. We are trying to evacuate the victims as soon as possible to the nearest...

Israel could face a legal and diplomatic response from Kyiv, according to a Ukrainian diplomatic source. If it allows a vessel bringing?grain?from the Russian-occupied Ukraine?to dock at?the port?of Haifa? The Israeli newspaper Haaretz reported that earlier the Panormitis vessel, which was carrying grain from occupied Ukrainian territories that Kyiv considers stolen, was awaiting permission to berth in Haifa. The source, who spoke on condition of anonymity, said: "If the ship and its cargo are not rejected, we reserve the right to use a full suite of diplomatic -and international legal-responses." Israel's Foreign Ministry did not respond immediately to a comment...

Shipping data revealed that a superyacht associated with Russian billionaire Alexey Mordashov, who is sanctioned, sailed the Strait of?Hormuz Saturday. It was one of?very, very few vessels? to pass through the blocked shipping lane in the?heart of U.S.Iran conflict. Nord, a 142-meter (465 foot) yacht valued at over $500 million, left a Dubai Marina on Friday around 1400 GMT, crossed the Strait on Saturday and arrived in Muscat on Sunday morning. The multi-deck vessel's route is unclear. Iran has restricted the flow of traffic through the Strait since?February. The strait is responsible for around a fifth of the world’s oil...

The closing of the Strait of Hormuz 'given Thailand the impetus it needed to move forward with a long-standing plan to establish a?logistics link between the Indian Ocean and the Pacific Ocean. Its government sought to court Singapore on Monday as a?potential investor. Thailand's government?said?it was reviving its "Land Bridges" project across the narrow southern peninsula, after recent disruptions along the Strait of Hormuz highlighted the vulnerability of global shipping choking points including the Malacca Strait. During a period of political turmoil, the previous administration had drafted a Land Bridge law. However, the proposal was abandoned due to incomplete environmental...

According to industry sources, Russia managed to maintain crude oil loadings in its western ports at the same level as March despite 'ongoing drone attacks. Drone attacks on ports and pipelines in the Baltic Sea and Black Sea ports in late March or early April slowed down crude oil loadings, but not overall. The estimated exports and transit shipments in April of Urals, Siberian Light, and KEBCO crudes from?the port of Primorsk?, Ust-Luga?, and Novorossiysk?, including carryovers from the initial schedule for March?and top-ups?, is around 2.2 millions barrels per day. The data from the market showed that this figure...

LSEG ship tracking data and the Russian'ship register' showed on Wednesday that Russia added four liquefied gas carriers to its fleet. This could help increase the country?s?marketshare ahead of a ban by the EU on Russian gas imports. In January, the European Union gave final approval to an import ban on Russian natural gas by 2027. In response to Russia's "war on Ukraine", the bloc also imposed sanctions. The sanctions have restricted Russia's ability to access the vessels that it needs to increase its share of the global market for LNG. The Russian Register?on?Wednesday showed four LNG tanks: the Orion,...

HSBC stated in a research note published on Tuesday that the United Arab Emirates' exit from OPEC, and the wider OPEC+ coalition from?May 20, 2026 will have a limited impact?on the oil markets. However, it could weaken OPEC's ability to manage prices and supply over time. The?UAE?,?one OPEC+'s biggest producers?, announced on Tuesday that it would be leaving both OPEC+ and OPEC, dealing a major blow to the producer's group, as the U.S./Israeli war against Iran disrupts the energy flow. HSBC predicts that global oil supplies will remain stable in the short term as disruptions to the Strait of Hormuz...

Germany and Poland are in discussions to see if short-term replacement oil can be delivered to the PCK Schwedt refining plant via Gdansk port after Russia announced it would stop the supply of Kazakh oil through the Druzhba pipe. A spokesman for the German Economy Ministry said that this was the case. The spokesperson said that the talks were in progress and refused to give any details. She noted that the supply contracts are between the companies concerned, but the government was closely following the process. A spokesperson for the Polish energy ministry stated that the country has the technical...

Three people familiar with the matter said that JPMorgan, two Kuwaiti banks and HSBC are joining forces to form a $6 billion financing consortium for prospective buyers of a stake in Kuwait Oil?Corporation?s crude 'oil pipeline network. KPC is in discussions with potential investors about a stake sale of its crude oil pipelines, estimated at $7 billion. The U.S. and Israeli war against Iran has thrown the process into doubt. State energy company said it had suffered "severe material damage" to some of its operating units following drone attacks. The company did not say which units were affected. Two of...

A newspaper reported that the Turkish oil and gas pipeline operator BOTAS would invest in a project to quadruple crude oil storage capacity at its facilities in Ceyhan, in eastern Mediterranean. Turkiye quoted BOTAS Chief Executive Abdulvahit Fidan as saying that the crude oil tank farm in Ceyhan project, where 'the Baku-Tbilisi -Ceyhan crude oil pipelines and Iraq-Turkey crude oils connect, will increase storage capacity to 45,000,000 barrels by 2030. It is currently 11.1 million. Fidan was quoted in the paper as saying at an energy conference held on Saturday that the project would increase Turkey's ability to withstand energy...

Asia is the most vulnerable area in the Iran War due to its heavy reliance upon Middle East oil and gas. But it could be the biggest winner as a result of several long-term tendencies this conflict will likely accelerate. These include higher cybersecurity investments, the pivoting away from fossil fuels, and supply chain diversification. Energy-intensive economies in the region, led by China and Japan, South Korea and India, are heavily dependent on Middle Eastern gas and oil. Around 80% of the oil and 90% of the gas that transits through 'the Strait of Hormuz is destined for Asian market....

The regional governor announced on Saturday that a Ukrainian drone had struck a multi-storey apartment building in Russia's fourth largest city, Yekaterinburg. This was the first attack in the city since the start of the Russia-Ukraine war. Denis Pasler wrote in the Telegram app that there were no deaths, but minor injuries had been reported and one woman was admitted to hospital. He said that residents of the building were evacuated. "All emergency services work quickly." A video posted on X, a social media site, and confirmed by showed smoke pouring from the top of a high-rise modern building. The...

In an interview broadcast Friday, Russian Foreign Minister Sergei Lavrov said that the United States had abandoned internationally recognised "diplomatic conventions" in pursuit of their own interests, particularly dominating the energy markets. Lavrov said, when he was interviewed by the Russian state television, that Washington's "dealings" with Latin America and Middle East were "returning us to a time where there was no international law." In an interview posted on the Foreign Ministry website, he stated that "the United States has declared that no one is allowed to dictate to them." It only cares about its own wellbeing and is prepared...

On 'Friday, Russia warned that the new European Union sanctions on its oil and gas would hurt developing countries as well as the EU. It also promised to take retaliatory action. On Thursday, the EU adopted its 20th set of sanctions against Russia for Moscow's "war" in Ukraine. These include further restrictions on?transporting Russian oil and gas and sanctions against refineries and oil producers. At her weekly press conference, Russian Foreign Ministry spokesperson Maria Zakharova informed reporters that "all this is happening amid a global?energy?crisis? and resource shortages?that are acutely felt throughout the world." Brussels' attempts to further destabilize the...

The price of Urals crude in Russia's western ports fell below $100 per barrel late last week. This was a drop from the 14-year high but still at their highest level since mid-2022. Urals were trading above $100 per barrel during most of April, amid a global shortage of energy due to the Iran War. The average Urals prices on a FOB basis (free on board), however, have increased this week at Primorsk, and Novorossiisk The price of a barrel fell to about $90, following the decline in Brent oil prices. This was due to a fragile truce between Iran...

The Moldovan parliament has voted to lift the energy'state of emergency' from Saturday. This was 'imposed' after Russian 'attacks' in neighbouring Ukraine knocked down a powerline that provided most of Moldova's electricity needs. Officials in Moldova have stated that the Russians attacked in March, putting out of action the Isaccea - Vulcanesti power line. This line carries electricity?from Romania into Moldova, passing 40 km (25 miles) through Ukrainian territory. This line is responsible for up to 70% of Moldova's electrical needs. The 101-member chamber of deputies voted 69 times in favor of lifting the emergency measure. The declaration of an...