South Korea’s efforts to wean the national energy mix off coal and nuclear energy in favour of natural gas and renewables will benefit the country’s largest LNG supplier, Qatar, a new report has shown.
The government of former Malaysian Prime Minister Najib Razak used funds from deals with the central bank and the sovereign wealth fund to pay for some of the liabilities of beleaguered state fund 1Malaysia Development Berhad (1MDB), sources with knowledge of the matter told Reuters.
The Bank of Korea held interest rates steady for a sixth straight month yesterday, with inflation seen remaining below target and trade frictions between the United States and China raising fears of collateral damage to other export-reliant Asian economies.
US home sales tumbled in April as an acute shortage of properties limited choices for potential buyers, the latest sign that the housing market was struggling to regain momentum.
China said yesterday it would “open its door wider” to German businesses, giving a warm reception to visiting Chancellor Angela Merkel, who has wooed Beijing to counterbalance trade threats from US President Donald Trump.
Saudi Binladin Group will be slimmed down and renamed, six sources familiar with the matter said, after the government seized management control of the construction giant from family members that were swept up in an anti-graft drive.
Turkey’s lira weakened more than 3% yesterday, giving up a large chunk of the gains it made after the central bank raised interest rates by 300 points a day earlier, as investors bet another hike would be needed to tame the sell-off.
Prime Minister Narendra Modi completes four years in office on May 26.
Stock markets fell yesterday, hit by the decision by US President Donald Trump to call off a planned summit with North Korea, as well as concerns over a new transatlantic trade conflict as the US mulls tariffs on car imports.
The Middle East and North Africa (Mena) region witnessed relatively lower financial crimes than the global levels, according to Thomson Reuter’s findings.