News

Italian energy conglomerate Eni is considering spinning off stakes in high-potential oil and gas projects, such as those in Indonesia and Ivory Coast, to help finance their development and focus more capital on low-carbon activities. This strategy, known as splitting operations into separate entities or satellites, would allow investors to choose where to place…

On Monday, Japanese equities finished lower due to investor caution ahead of upcoming earnings reports. The Nikkei index declined 0.13% to end at 38,179.46 points, dipping below the 38,000 mark for the first time since May 2 during intraday trade. The broader Topix index also decreased 0.15% to 2,724.08 points. Analysts suggested that many…

In recent news, SoftBank Group reported a significant increase in profits during the first quarter of 2023, with a net profit of 328.9 billion yen ($2.11 billion). This marked the second consecutive profitable quarter for the tech investment company, which has historically experienced volatile earnings and large bets on technology start-ups. The impressive results…

In light of China’s recent surprising drop in credit demand, brokerage firms in the country have experienced difficulties in disseminating accurate information about the economy. Seven research reports from mainland brokerages and securities firms, published over the weekend by analysts, have disappeared from social media platforms such as WeChat. Analysts from companies like China…

The article reports on a significant government reshuffle in Russia, with Sergei Shoigu, a long-time ally of President Vladimir Putin, being moved from his position as defense minister to the country’s powerful Security Council. Shoigu, who had overseen Russia’s invasion of Ukraine since 2012, will now be replaced as defense minister by Andrei Belousov,…

Based on the latest data and forecasts, it appears that inflation pressures in the US economy remain elevated, as indicated by the increase in wholesale inflation in March and analyst predictions of further inflation in April. The Producer Price Index, which measures inflation at the wholesale level, is expected to rise from 2.1% in…

The proposal by Malaysia’s Minister of Plantations and Commodities, Johari Abdul Ghani, to gift orangutans to countries that purchase its palm oil has faced strong opposition from conservationists. Critics argue that this move is “obscene” and “hypocritical,” given that palm oil production is a major contributor to the dwindling number of orangutans in the…

In response to Japan’s escalating debt burden and the subsequent weakening of the yen, Tokyo-listed Web3 infrastructure provider Metaplanet has chosen to adopt bitcoin as a strategic reserve asset. This move, announced on May 13, is a direct result of the persistent economic challenges facing Japan, including high levels of government debt, extended periods…

Due to a sharp decline in credit, China’s government and central bank are facing mounting pressure to take action. Last month marked the first time in nearly two decades that overall credit growth fell significantly, leaving both the government and central bank with few options. Local governments and private entities are already heavily indebted,…

According to recent developments, the Biden administration is set to announce 100% tariffs on electric vehicles imported from China, citing concerns over job losses and national security threats. This follows similar actions taken by former President Donald Trump, who implemented a 25% tariff on Chinese vehicle imports. The move comes as Chinese automaker BYD’s…