Aramco Considers Revising Oil Pricing for Asia Amid Houthi Threats
MALAYSIA: Saudi Aramco is contemplating new pricing mechanisms for its oil exports to Asia in response to threats from the Houthi movement that could disrupt supply flows. The company is still in the process of finalizing the details, including the implementation date, amid
US Dollar Pauses as Market Awaits Federal Reserve Decision
SINGAPORE: The US dollar paused near one-month highs on Wednesday in Singapore as investors awaited the Federal Reserve's monetary policy decision. The anticipation of potential changes in interest rates and economic guidance from the Fed has led to cautious trading activity. The dollar's
Japan’s GPIF Enhances Bond Strategy with New Expertise
JAPAN: Japan's Government Pension Investment Fund (GPIF) is bolstering its investment strategy by hiring active bond funds to gain expertise in Japanese Government Bonds (JGBs). The primary aim is to achieve returns that exceed the benchmark on domestic bonds while diversifying its risk
Wall Street Opens Lower as Investors Anticipate Federal Reserve’s Decision
NEW YORK: Wall Street's primary stock indexes experienced a downturn at the opening on Wednesday, July 29, as investors closely monitored the Federal Reserve's upcoming monetary policy decision. The decline comes amid growing anticipation over potential changes in interest rates and economic strategies.
Audi Workers Rally Against Potential Plant Closure in Neckarsulm
USA: Thousands of workers at Audi's Neckarsulm plant in Germany staged a protest against the potential closure of the facility. The demonstration was held to voice concerns over job security and the future of the plant, a key site for the luxury car
Ferrari Reaches 2026 Sales Target for Luce EV in Record Time
ROME: Ferrari has achieved its 2026 sales target for the Luce electric vehicle, just two months after its launch. The milestone was driven by robust demand, particularly from the Chinese market, underscoring the global appeal of the luxury automaker's first-ever EV. The Luce
Hermès Reports Revenue Growth Despite Industry Challenges
MALAYSIA: Hermès has reported a 6.7% increase in revenue for the second quarter, reaching approximately 4.1 billion euros. This growth comes amidst a challenging period for the luxury goods sector, underscoring the brand's resilience in the face of a broader industry slump. The
US Dollar Declines Against Yen as Market Awaits Inflation Data
LONDON: The US dollar weakened against the Japanese yen on Thursday in anticipation of an upcoming US inflation report. Analysts are keenly watching this data to assess potential shifts in monetary policy. This movement in the currency market occurred in the context of
Bank of England Maintains Interest Rates Amid Inflation Concerns
LONDON: The Bank of England decided to keep interest rates unchanged at 3.75 percent during its latest meeting in London. This decision comes as officials aim to navigate economic uncertainties exacerbated by ongoing geopolitical tensions, which are influencing inflation expectations. The decision to
US Economy Expands at Slower Rate of 1.5% Amid Strong Consumer Activity
WASHINGTON: The United States economy expanded by 1.5% in the second quarter, falling short of expectations despite robust consumer spending and strong business performance. This figure, reported from Washington, underscores the challenges the economy faces in maintaining momentum amidst various external factors. The
