Asia

Six sources familiar with the situation have confirmed that China held direct discussions with Yemen's Houthi Movement to allow its?tankers the freedom to navigate through the southern Red Sea, without fear of being attacked by the Iran-aligned militia. The 'Houthis' declared their blockade of the U.S. on July 20. This opened a new front in the Iran War against the U.S. According to sources, including a senior Iranian official, Beijing asked the Houthis to guarantee safe passage for their tankers. Sources who refused to be named due to the sensitive nature of the issue said that China was one of...

Five industry sources have confirmed that three major Russian Black Sea grain terminals have limited grain deliveries via?truck due to increased shipping risks and the increased flow of grain following restrictions on the Sea of Azov. This month, Russia, the largest exporter of wheat in the world, has restricted shipping on the Sea of Azov after Ukrainian drones targeted several Russian grain ships along the route. The route accounts for about a quarter of Russia's grain exports. The authorities redirected grain that was previously shipped by rail and truck through the Sea of Azov from the fertile south to terminals...

The Russian Defence Ministry reported that Russian forces struck at least two Ukrainian vessels on Tuesday, including a bulk carrier transporting military cargo to the Black Sea, and another vessel in the port Mykolaiv. The statement said that it had also targeted the port itself. The Defence Ministry released a statement that said: "As a result of strikes using hovering munitions or attack drones, infrastructure facilities at the Mykolaiv port transhipment complex?used for delivery and storage of military cargo as well as fuel and oil tanks intended to provide the Ukrainian Armed Forces were damaged." It said that "in addition,...

The Romanian defence ministry announced on Sunday that an F-16 fighter jet pilot had shot down a Russian drone over the Black Sea. This was the latest in a string of airspace violations by NATO members, which?President Nicusor Dan deemed "inadmissible" and "intolerable". Romania shares a land border of 650 km (400 miles) with Ukraine, and Russian drones repeatedly violated Romania's airspace throughout the four-year Ukraine conflict. Moscow has intensified its attacks on Ukrainian ports located across the Danube River. Romania hadn't destroyed any drones before Friday, when a Romanian was able to safely bring down one in an uninhabited...

Typhoon Noul hit southern China early Sunday morning, bringing torrential rainfall and gale force winds to the province of Guangdong and Hong Kong. Authorities warned that heavy rains and storms would continue until Tuesday. Noul is the 12th tropical storm of the year, and the third one to strike China in this month. Authorities said that it has forced more than 700,000. people to relocate in Guangdong Province. Noul, China's strongest typhoon in 2026 so far, hit the coast of Huidong County in the southern Guangdong Province at 3:50 am Saturday (1950 GMT) as a powerful typhoon. State broadcaster CCTV...

Typhoon Noul hit southern China early on Sunday, bringing with it 'heavy rains and gale force winds in the Guangdong province and neighbouring Hong Kong. This led to the cancellation of flights at Hong Kong International Airport. Noul, or the glow of sunrise in Korean, is the third typhoon to hit China in this month and the 12th in the Pacific this year. Authorities said that it has forced more than 340,000 people to relocate in Guangdong Province. Hong Kong's?Observatory reported on Sunday that the typhoon was weakening while it moved further inland. It added that strong?gales continued to affect?much?...

After a poorly explained government reshuffle erupted into a political crisis, protesters in Kyiv announced a rally that would last until the end of time. They demanded that Volodymyr Zelenskiy reappoint Mykhailo Fedorov as defence minister. The protest reached its peak last week when thousands of angry Ukrainians marched to demand the reinstatement of Fedorov and the dismissal of Oleksandr Syrskyi as commander-in chief. Syrskyi was accused by some of disregarding soldiers' lives and delaying army modernisation. Hundreds of protesters gathered outside the president's office Friday, even though Zelenskiy had replaced Syrskyi by respected commander Mykhailo Drapatyi. They chanted "We...

Euronext Wheat Futures dropped?more? than 6% after reports that Ukraine was looking at possible ways to keep vessels moving through its Big Odesa port. This raised hopes for Black Sea exports. The price of front-month milling wheat for September on Paris' Euronext fell?6% at 1320 GMT to EUR228.75 ($260.02), after falling as low as EUR226.25 per ton earlier. Chicago's most popular wheat contract was down 4% at the same time. ExpertGrain Media reported that under 'the proposal', shipowners would notify both Ukrainian authorities and Russian authorities prior to vessels calling at ports in either of the countries. Ships registered under...

Russia announced?on Friday? that its forces had'struck three Ukrainian ports overnight? in a?attack which targeted infrastructure, including loading and unloading areas and fuel reserves which supported Kyiv’s armed forces. The Russian Defence Ministry claimed that air-launched rockets and strike drones had?hit the ports of Odesa Izmail, and Mykolaiv as part of a campaign of heavy strikes against Ukraine. In a press release, it said that tanks of fuel and lubricants intended for the Ukrainian army had been damaged in Odesa and that storage and unloading facilities for military cargo had been destroyed in Izmail. The floating dry dock in Izmail...

Three industry sources reported on Thursday that drones had attacked two more oil tankers as they approached the terminal of 'the Caspian Pipeline Consortium,' on 'Russia's shores' of 'the Black Sea. This has further harmed prospects for exports to Kazakhstan, who uses this outlet. Authorities alleged that the closure of the terminal earlier this week, which accounts for more than 80 percent of Kazakhstan's oil exports, was due to safety concerns. This forced Kazakhstan to reduce its oil production. Sources said that the CPC should have provided oil to the HERA and ALATAU tanks. HERA, however, was set ablaze and...

The country's Agriculture Minister said that shipowners temporarily halted vessel arrivals in?Ukraine?s Black Sea ports?for agricultural exports?after a recent surge?in russian attacks against ports and merchant ships? According to traders and analysts, the Russian drone and missile attacks have caused Ukraine to lose about a third its ability to export grain through Black Sea ports. "As from today, entry of ships is suspended. The shipowners made this decision. Ukraine as a country has not imposed restrictions," Interfax Ukraine quoted Taras Vysotskyi on Wednesday. Interfax-Ukraine reported that Vysotskyi also added that alternative routes as well as infrastructure are currently underutilised. Since...

These are the 'top stories' from?the New York Times?business?pages. The?New York Times has not verified the accuracy of these stories. The Florida teenager who sued Meta for claiming that the company's social media apps caused his depression and anxiety dropped his lawsuit. Sony Pictures Entertainment announced that it will reopen the Cinerama Dome, Hollywood by 2028 after a renovation. This was in response to a growing demand from younger audiences for premium movie experiences. Three U.S. Airports are the first to adopt the new "private screening" model of the Transportation Security Administration, despite the staunch opposition from the union representing...

Brookfield, a global investment firm, announced on Monday that it had raised $2 billion in private equity funds from strategic anchor investors including Saudi Arabia’s sovereign wealth fund. The fund will invest in Saudi Arabian companies and other Middle East firms. The Brookfield Middle East Partners fund (BMEP) aims to allocate half of its investments in Saudi Arabia. Brookfield, with a portfolio of?more than 1 trillion dollars, will contribute $500 million. Private equity firms from around the world have increased their investments in the Gulf region in recent years. They are attracted to the proximity of some of the largest...

An industry source reported on Monday that Kazakhstan, one of the 10 largest oil producers in the world, had more than halved its daily oil production after drone attacks forced the closure of the main terminal for exporting crude oil into Russia's Black Sea. Kazakhstan's production decline is likely to contribute to global concerns about oil supply due to the Strait of Hormuz being effectively closed and the risks of shipping commodities via other sea routes. This also demonstrates the fact that Russia is the largest country in the world to be landlocked. According to an industry source, the oil...

Ukraine's forces have struck Russia's energy infrastructure, which Kyiv claims is an attempt to deny Russia resources for funding its military. Here is a list of recent attacks and their impact. TYUMEN On July 25, local Russian authorities reported that a?Ukrainian 'drone strike' sparked an fire at the Tyumen Refinery in western Siberia. The fire was later extinguished. The refinery's nominal capacity is around 8 million tons per annum. According to industry estimates, it processes approximately 6 million tons per year, producing 0.5 million tons gasoline and 2.5 millions tons diesel. YAROSLAVL According to President Volodymyr Zelenskiy, Ukrainian forces attacked...

Iran announced on Monday that it still controlled the Strait of Hormuz, and was not interested in restarting peace talks with the United States after President Donald Trump stopped a two week bombing campaign?that his top brass had told him ran its course. Trump ended the bombing campaign on the weekend after a '13 consecutive nights of intensifying bombardment that provoked Tehran into firing at U.S. base in retaliation. Iran has said that it will halt its attacks as long as there is a pause in the U.S. bombing. Trump's decision was based on advice from his top brass, who...

A tender document released on Monday showed that India's state-owned company Mangalore Refinery & Petrochemicals Ltd is looking to import oil through a spot tender. For the first time, the tender asked suppliers to avoid the Red Sea and Strait of Hormuz. The Houthis of Iran, who want to stop Saudi exports and expand the U.S./Iran conflict, have been disrupting Red Sea traffic off the coast of Yemen for the past week. In a bid document, MRPL stated that "Crude loading/transit through the Red?Sea or SoH must be avoided." The tender sought?upto 1 million barrels on a delivered basis between?August...

Europe faces a winter of alarming fragility in its energy supply as conflicts in the Middle East, Russia and the United States tighten the global markets for heating oil and liquefied gas. According to official statistics, heating oil and natural gas are the two main fuels used in Europe for residential heating. Gas accounts for approximately 30% of heating demand, while oil is responsible for 10%. Both fuel markets are under extreme strain after years of energy shocks. Gas vulnerability in the region is largely a result of the dramatic change in its energy mix that has occurred since Russia's...

Iran will cease its attacks as long the United States also does,?a senior Iranian official said on Sunday. The United States has paused its bombing campaign after President Donald Trump's advisors informed him that they had run out of targets. They also expressed concern about the depletion of the U.S. weapons arsenal. The Pentagon ended the airstrikes against Iran after 13 nights. No U.S. strikes were reported for Saturday or Sunday. Iran has held off its attacks on the neighbouring countries of U.S. bases for two days. It had followed each night's U.S. airstrikes with its own strikes. An anonymous...

Iran's Foreign Ministry condemned on Saturday an attack by Ukraine on a commercial Iranian vessel in the Caspian Sea. It said that a resulting explosion killed one sailor and injured another. Throughout the Ukraine war, Kyiv had to combat drones designed by Iran that were deployed by Moscow. Kyiv offers its drone intercepting expertise to Middle East countries that have been hit by?Iran. Tehran called the attack on the Iranian vessel an act of aggression, and said it would defend national security and interests. It also accused Kyiv of trying to escalate the conflict in Ukraine. The Iranian denial coincided...

Yemen's Houthi militants, who are aligned with Iran, fired on Saudi oil facilities in two ports along the Red Sea Coast on Saturday. However, the U.S. did not launch air strikes against Iran for the first time in two weeks. Washington did not explain why it abruptly stopped a 13-night streak of escalating attacks in retaliation of Iranian attacks on ships in the Strait of Hormuz after an interim agreement to end hostilities failed. Hossein Kirmanpour, spokesperson for the Health Ministry, said on X: "It appears that our dear Iran enjoyed a peaceful sleep last night." No reports were made...

Dmitry Peskov, Kremlin spokesperson, was quoted on Saturday as saying that the suspected Ukrainian attacks on facilities connected to 'Kazakhstan Caspian Pipeline Consortium' amounted "energy terrorism", aimed at Kazakhstan and Russia. Kazakhstan announced on Thursday that it had cut oil production after suspected Ukrainian drone strikes forced the CPC-operated Black Sea export terminal to close. Peskov was quoted by RIA as saying: "This is clear energy (terrorism), this is what they are doing in 'the Black Sea, in 'the Sea of Azov". These are terrorist acts, international terrorist acts, which could be extremely dangerous. RIA reported that he said the...

Greek security sources said that air defence systems in Saudi Arabia intercepted on Saturday two ballistic missiles fired from Yemen, which were aimed at oil refineries in Yanbu. This was as Saudi Arabia and the Iran-aligned Houthis traded fire in the new front of the Iran War. The coalition led by Saudi Arabia in Yemen announced late on Friday that it had hit Houthi military bases in the port of Hodeidah in connection with attacks against shipping by the group. This group has declared a maritime blockade on Saudi Arabia. Abdul Malik al-Houthi, the leader of the Houthi group, said...

Kuwait?Petroleum Corporation has announced a deal worth $16?billion for its crude oil pipeline?network. The consortium includes global?funds Blackstone Brookfield and KKR. The largest foreign direct investment ever made in the history of the country. Kuwait Oil Company, a unit of KPC, is establishing a joint-venture with three U.S. investors in a lease-and-leaseback structure over a 20-year period that includes a tariff based on volume, KPC said in a press release. The deal is part of an effort by Gulf State oil companies and investors to attract foreign capital and raise funds through infrastructure assets, in order to finance domestic investment...