Latest News
-
Maguire: China's clean technology exporters are cashing in on the Iran war, which has affected oil and gas flows.
China's exporters of solar systems, batteries, electric vehicles, and other clean energy components had a?record month last month, as the Iran War and the subsequent closure of Strait of Hormuz disrupted oil and gas supplies to the Middle East. Data compiled by 'Ember' shows that the combined sales of Chinese clean energy products and parts totaled $26 billion during March. This was the highest clean-tech monthly figure ever recorded by a world leader in battery, electric vehicle and solar panel manufacturing. The total monthly revenue was up by 30% over February, and 52% higher than the same month of 2025. This is due to the earthquake shock caused by the bombings in the Middle East as well as the closure of important shipping lanes. BATTERY BOOM Last month, battery systems were the top-selling component in China among clean energy components. Sales of just over $10 billion were recorded. This compares with average monthly battery exports of $7 billion since 2025. It also marked a sharp increase in global orders of battery systems used by utilities to store energy and in electric cars. Asia, with 29% of exports, was second in line for Chinese battery imports. In March, Germany ($1.26 billion) was the largest market for Chinese batteries. This was followed by the United States ($823 million), Netherlands ($635 millions), Vietnam ($597millions), and Australia ($595millions). Germany registered the largest monthly increase of battery imports in comparison to February. Import purchases increased by $286 million in March. Vietnam and Oman both registered monthly increases of more than $200 million in the last month. SOLAR SPURT Chinese solar systems saw the second-largest increase in exports in March. They went from $2.1 billion to $4.8 million, the highest monthly total in the last 20 years. Asia accounted for the largest share of travel, or 43%, or $2.3 billion. Europe was second, with 27%, or $1.3 billion. The Netherlands was the largest overall importer of solar panels in March. They paid $400 million. This is a nearly $200 million increase over the previous month and compares with a monthly average around $264 millions since 2025. Last month, India, Indonesia, and the Philippines were the top five buyers of solar systems from China. EV EXPORT VOLTATILITY China's electric vehicle exports have been in turmoil so far in 2026, as changes in subsidy schemes in various countries affected consumer demand before the Middle East War disrupted global trade and consumer confidence. EV exports in the first three months of 2026 reached just over $21billion, a record compared to the $12billion exported during the same period in 2025. Europe, with 45% of sales, was the most popular destination for Chinese EVs. Asia followed, with a 25% share. Belgium was the leading exporter of EVs, followed closely by Brazil, Germany, United Kingdom and Australia. The sharp drop in sales?to Middle East in March was a notable feature. Air raids in that region had brought the movement to a standstill. In March, China exported EVs to the Middle East at a rate of only 4%, but this will increase to 11% by 2025. In March, the Middle East saw a sharp decline in the deliveries of grid systems made in China for the same reason. This shows that China's clean energy component exporters have also suffered from the Iran War. Those drops in Middle East deliveries may also be indicative of pent up demand when peace returns to the region and trade flows resume. This 'in turn' puts Chinese clean-tech exporters in a good position to maintain strong global sales, even when flows of Middle Eastern oil, fuel, and gas start to recover. These are the opinions of a columnist who writes for. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
-
Bloomberg News reports that China Merchants has joined the talks to sell CK Hutchison ports
Bloomberg News, citing sources familiar with the situation, reported that China Merchants 'Group is in discussions to join a consortium looking to?buy dozens of CK Hutchison Holdings port. The report stated that China Merchants was joining the negotiations to?help state-owned company China?Cosco Shipping fund the deal. According to the report, the consortium includes the US investment firm BlackRock's GIP Fund and Italian billionaire Gianluigi?Aponte's 'Terminal Investment'. China Merchants Group was unable to respond immediately to a comment request from CK Hutchison. Last month, CK Hutchison said it was still in talks with a group to sell the majority its 'ports' business. Conglomerate owned by Hong Kong’s richest man Li Ka shing has been caught in a diplomatic whirlwind since U.S. president Donald Trump objected to Chinese ownership of ports along the 'globally strategic Panama Canal.
-
WSJ reports that budget airlines are urging the US government to help with a $2.5 billion plan for relief.
The Wall Street Journal reported that a group of U.S. low-cost airlines, including Frontier Airlines and Avelo Airlines, are seeking government assistance worth $2.5 billion to exchange warrants for equity stakes in the companies. Reports say that the chief executives of low-cost carriers met with Transportation Secretary Sean Duffy, and Federal Aviation Administration Chief Bryan Bedford in Washington on Tuesday. Discussions regarding a possible aid package will continue in coming days. According to a WSJ report, the budget airline group calculated that they would spend $2.5 billion more on jet fuel this year than they had forecasted earlier, assuming average jet fuel prices remained above $4 per gallon. Could not verify the report immediately. White House, Frontier and Avelo didn't respond to our request for comments. The pitch highlights one of Washington's unintended consequences: an increase in jet fuel costs that have roughly doubled, squeezed margins, and pushed weaker airlines to the edge. Budget?airlines are requesting the government to provide up to $500 million to save low-cost carrier Spirit Airlines. The U.S. Treasury was given warrants on major airlines in exchange for $54 billion of aid. It only made $556.7 from the sale of these warrants, and many were of little value. (Reporting and editing by Sumana Aich and Rashmi Nandy in Bengaluru)
-
Australian shares fall as miners and banks drag on Mideast tensions
Australian shares dropped on Monday as investors waited for "clearer signs" on the prospects of a permanent ceasefire. By 0021 GMT, the S&P/ASX 200 index had fallen 0.5% to?8,745.80 and was heading for its fifth consecutive session of losses. The benchmark index fell 1.8% in the past week, its biggest weekly drop since mid-March. Donald Trump, the U.S. president, said that Iran can call to negotiate an end of the two-month conflict, and stressed that Tehran will never be able to?acquire a nuclear weapon. This came after Trump, on Saturday, cancelled a planned U.S. ambassador visit?to Islamabad. Financials in the United States fell by 0.6%, with the four largest banks falling between 0.6% to 1% Investors are now looking to the Reserve Bank of Australia's meeting next week for clues on the country's rate trajectory. After the copper price fell on Friday, miners lost 0.3%. Mining giant BHP also dropped 1%. Energy companies lost 1.6%. This was the worst session of a week. Origin Energy, a power producer, fell as much as 4.5% after reporting a quarterly revenue drop of 9%. Gold?stocks rose 0.5% on Friday, bucking the trend of broader losses. Tech stocks gained?0.7% on the Nasdaq record-setting Friday close. Megaport, a network-as -a-service company, announced a contract for a 36-month period worth $25 million. The firm's shares jumped up to 9.5% and topped the subindex. Atlas Arteria shares jumped up to 15.5% in company news after the 'IFM Global Infrastructure Fund' launched a takeover offer, valuing Atlas Arteria at A$6.89 Billion. ($4.92 billion). New Zealand's markets were closed on Monday because of a public holiday.
-
IFM Global Infrastructure Fund makes an offer to purchase Atlas Arteria for $4.9 billion.
IFM Global Infrastructure Fund announced a 'takeover offer' on?Monday? for all of the shares that it doesn't currently own in Australia’s Atlas Arteria. The toll road operator is valued at A$6.89billion ($4.92billion). Diamond - Infraco 1, the investment unit of IFM Global Infrastructure Fund, has proposed to purchase all remaining Atlas - Arteria securities for A$4.75 each. Diamond Infraco?1 stated that it currently holds 34.48% of Atlas Arteria Securities, and has limited capacity to acquire additional stakes without?making a buyout offer. The bidder stated that the offer price would be increased to a maximum of A$5.10 per security if Diamond’s relevant interest in Atlas Arteria Securities reaches 45% or more before the closing of the offer.
-
Could Asia be the unexpected winner of the fallout after the Iran war? : Raychaudhuri
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. Energy prices in the region have risen sharply since'most vessels' were unable to transit through the Strait of Hormuz. China, with its huge stockpiles of food, has been relatively protected from shortages and rationing in other countries. Even though the crisis has exposed Asia's vulnerability to energy, it could also be speeding up structural changes that are in favour of the region on the long-term. BUILDING ASIAN ARSENAL The war is likely to increase the push for increased defense spending globally, as well as Asia’s drive towards greater self-sufficiency in defence. Asian contractors may have an edge over their Western counterparts due to the region's high-quality semiconductor and manufacturing supply chain. Hanwha Aerospace formerly LIG Nex1, LIG Defense & Aerospace and Hyundai Rotem are three Korean arms manufacturers that have attracted investor interest in the past year because of their high earnings growth expectations and large order backlogs. The growing penetration of European markets could further increase their market dominance. The Iran conflict as well as the Russia-Ukraine War have both highlighted the effectiveness and cost-effectiveness "new" weapons, particularly?drones. According to Technavio, the global military drones market is expected nearly double from $15.3 billion to $29 billion between 2030 and 2025. Technavio predicts a similar growth in the Asia military drone market. This is dominated by Chinese aerospace giants, who are state-backed. By leveraging their scale of production, cost-effectiveness and product range, the region's manufacturers can compete with U.S. and Israeli rivals. CHIPS, CYBER & AI Asia's cyber ambitions are at the center of a global race. They are fueled by rapid digitalization, government-led investments, massive hardware manufacturing capabilities, and artificial intelligence-powered defenses. According to the World Economic Forum (WEF) January survey, geopolitically motivated attacks on corporations are today's biggest risk. The WEF survey reveals that most companies believe AI will have the greatest impact on cybersecurity over the next year. AI appears to be doing exactly that. Anthropic's Mythos, a model?reportedly capable of identifying vulnerabilities in software at scale, illustrates the offensive potential as well as the defensive imperative. In order to remain one step ahead of the AI arms race, the U.S. and other countries may be compelled to increase their domestic manufacturing. The demand for Korean and Taiwanese semi-conductors is likely to continue indefinitely. The Energy Pivot The Iran War may have a positive impact on the energy sector, encouraging more countries to move away from fossil fuels and towards electric vehicles, energy storage, and green energy in general. China's dominance of the EV batteries market will make it a disproportionately large winner. SNE Research reports that Chinese manufacturers are responsible for more than 70% of global batteries installations. Korean companies account for roughly 15%. China dominates the intellectual property sector. According to the China National Intellectual Property Administration, Chinese companies held 18 of 20 top rankings for patents in power battery systems by 2023. China's technological expertise will be crucial for countries looking to develop their low-carbon energy capability. As a response to the Middle East's energy crisis, nuclear energy has also been brought back into the spotlight. This is especially true in Asia. South Korea considers expanding its nuclear capacity and Taiwan is contemplating restarting 2 nuclear reactors. Japan signed a $40 Billion reactor deal with America and a Nuclear Fuel Recycling Agreement with France. This will be a boon for Asia's nuclear power equipment manufacturers. Doosan Enerbility, China's Shanghai Electric and Dongfang Electric as well as India's Larsen and Toubro and Japan’s Mitsubishi Heavy Industries could all benefit. The current energy crisis has also highlighted the dangers of over-reliance upon a single chokepoint. Diversification is now a necessity, not just a goal. The Financial Times reports that there is renewed discussion about the India-Middle-East-Europe Economic Corridor. This project, which has U.S. backing, will link India with Europe by rail and shipping. This buildout could benefit several Asian companies that have a long history and expertise in the Middle East, including Larsen and Toubro of India, PetroChina and Abu Dhabi's NMDC. Several hurdles remain. The Strait of Hormuz could remain closed for a long time, causing a shortage of industrial inputs and energy, which would severely impact Asia's manufacturing capabilities. Reshoring by the West, even if it is gradual, can also reduce Asia's gains. Increasing capital costs - driven by inflationary expectations - could delay both green energy and defense projects. The Middle East conflict may end at some point but its impact on the global policy direction is not likely to. The views expressed are those of Manishi Raymondchaudhuri. He is the founder and CEO Emmer Capital Partners Ltd. and former head of Asia-Pacific Equity Research for BNP Paribas. This column is interesting to you? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
-
The death toll from the Colombia highway attack has risen to 19.
Authorities reported that the death toll of an explosives attack on a highway in southwest Colombia jumped to 19 on Sunday. The 'government' blamed the bombing on a dissident FARC faction. The explosion on the Pan-American Highway, in the Cajibio Municipality, also injured 38 people including?five children, and destroyed dozens vehicles on the 'road connecting Popayan to Cali. Why it Matters * The attack came just before the presidential elections and was?the most deadly in recent weeks. Military and police officials said that rebels detonated an explosive device placed?on a highway, creating a crater. * Defense Minister Pedro Sanchez has blamed Estado mayor Central, a FARC faction of dissidents that rejected the 2016 peace agreement. Between Friday and Saturday, 26 attacks took place in the Cauca and Valle regions, including two car-bomb?attacks against military installations in Cali, Palmira, and Palmira. * 'Cauca' is a strategic region in terms of cocaine production, trafficking and illegal gold mining. Both are key sources of funding for armed groups. * Former rebel President Gustavo Petro - whose tenure as president is nearing its end - has pursued a policy of "total peace" with the guerrillas, through negotiations and occasional ceasefires. (Reporting and editing by Luis Jaime Acosta)
-
Source: Six Swiss International passengers injured in India after flight aborts.
Six passengers were injured in an emergency evacuation after a Swiss International flight from Delhi to Zurich was forced to abort early on Sunday morning. The Economic Times reported that one of the aircraft engines 'failed and caught fire as it was accelerating to take off, prompting crew members to stop the flight and initiate an emergency evacuation. The source said that the injured passengers had been taken to hospital. She was not authorized to speak with media and refused to identify herself. Flightradar24 reports that the aircraft involved was an Airbus A330. Delhi's Indira Ghandi International Airport?said on X earlier that it had declared a state of emergency following the occurrence on flight LX147. The?source said that runway operations have resumed at the airport and that all flights are on time. Delhi Airport, India's busiest airport, has four runways. Swiss International didn't immediately reply to an email seeking a comment. (Reporting from Akanksha Khushi in Bengaluru; Neha Arora, Abhijith Gaapavaram and Christian Schmollinger in New Delhi. Editing by Christian Schmollinger & Edwina Gibbs.
Paytm's India falls over 8% as RBI cancels its banking licence for the payments bank
Paytm Payments Bank Limited shares fell 8.4% Monday, their biggest intraday decline in over three months, after India's central Bank last week cancelled its banking license.
Later, the stock recovered some of its losses and traded down by about 3.5%.
Reserve Bank of India made the decision two years after it imposed "business curbs" over violations. The regulator ordered the bank to stop taking new deposits due to non-compliance of rules.
The RBI said that the continuation of the bank would not serve the public interest or any useful purpose.
When announcing its cancellation, it?added "the general nature of the management is detrimental to the interests of depositors and also the public interest".
The board of One 97 Communications, parent company of the payments bank, approved its winding down on Saturday.
One 97 Communications stated that "the company wishes to assure shareholders and investors of its business, operations and financial condition, the cessation associated?relationship with PPBL and the subsequent winding up of PPBL is not expected to have a material impact."
Analysts at BofA Securities stated that the cancellation of the license could increase regulatory risks for Paytm.
They said that they saw "risks" in the future where Paytm may have a harder time obtaining any licenses from RBI.
(source: Reuters)