Teodoro, a Filipino, says China can exploit the US-South Korean military exercises
Philippine Defense Secretary Gilberto Teodoro stated on Monday that China may see the recent reductions in U.S.-South Korean exercises as an opportunity to re-establish itself in the Indo-Pacific. He also said Washington had reassured Manila of its commitments towards the Philippines. Teodoro, speaking on the sidelines the Seoul Defense Dialogue in Seoul, said that there has been no reduction of U.S.-Philippine activities and that the bilateral and multilateral collaboration involving Manila continues to expand. Security analysts have been divided over whether the decision by U.S.
Australian shares are stumbling as energy stocks counter the gold slump
Australian shares traded within a narrow range Monday as strength in energy companies offset weakness in gold stock. Meanwhile, investors stayed away as tensions in the Middle East increased, helping oil prices to extend their gains. As of 0010 GMT, the S&P/ASX 200?index remained at 9,009.60. The benchmark index lost 0.2% on Friday and had its worst week for nearly a whole month. Crude prices rose on Monday after tit-fortat strikes by the United States and Iran against vessels in the bottleneck Strait of Hormuz, as well as other areas over the weekend. This heightened fears of a long-term?supply interruption.
Nepal Flood: Nations missing tourists
Tourism officials confirmed on Thursday that 540 foreigners, from 31 different countries, are among 667 tourists who have gone missing in Nepal following a devastating flood which devastated the Himalayan nation and China's Tibet. 260 foreigners were missing from a total 558 in Tibet's Gyirong County, according to a report by state broadcaster CCTV. However, details on nationality weren't immediately available. India: The neighbouring country had the most missing persons after the floods, with 288 people still unaccounted for in Nepal, and 200 more stranded on the Chinese mainland, the Indian foreign ministry announced on Thursday.
Nepal Flood: Nations missing tourists
Tourism officials said that 517 tourists from 33 different countries were among the 570 tourists who are missing in Nepal following the catastrophic floods which devastated the Himalayan nation as well as China's Tibet. State broadcaster CCTV reported that 260 foreigners were missing from Tibet's Gyirong county, but did not provide any details on nationality. The tourism board of Nepal said that India, which is next door, had the most missing people with 178. UNITED STATES : The Nepal?tourism board reported that at least 65 U.S. nationals are missing.
Nepal Flood: Nations missing tourists
Tourism officials reported on Thursday that 476 tourists from 29 different countries are among the 570 tourists who have not returned to 'Nepal' after a devastating flood in the Himalayan nation. State broadcaster CCTV reported that 260 foreigners were'missing' in Tibet's Gyirong County, but the nationality of those missing was not immediately known. The tourism board of Nepal reported that India, a neighboring country, had the most missing people with 177. AUSTRALIA - Foreign Minister Penny Wong announced that authorities are working with Nepal to find 34 Australians who have been reported missing.
New Zealand awards first offshore petroleum exploration permit after reversing ban
New Zealand's coalition centre-right government granted its first permit for petroleum exploration on Wednesday, reversing the ban imposed on offshore exploration by the former Labour government of Jacinda Ardern. The conservative government of Prime Minister Christopher?Luxon, who came to power in 2023 and won the election, lifted the ban on offshore exploration last year. They wanted to avoid gas shortages in industrial areas, as well as boost power generation during dry years, when hydropower output drops. The Resources Minister,?Shane Jones, said that this permit marked a significant milestone for New Zealand’s energy sector.
After years of stagnation, New Zealand's interest in gas exploration is picking up.
Seven oil and gas companies are racing to secure offshore rights to explore in New Zealand before a national vote that could lead to the ban of new permits. The country's main parties are fighting over the need for gas. New Zealand attracted interest after its conservative government lifted a ban last year on new offshore drilling imposed by 2018. The goal was to avoid gas shortages in industrial areas and boost power generation during dry years, when hydropower output drops. In May, the country produced 7,6 petajoules (PJ) of gas. This was mainly from fields which are or will soon be declining.
Australian shares are down as consumer and bank stocks fall; commodity stocks hold back losses
Australian shares fell on Monday, as losses in consumer and financial stocks were offset by gains in commodities. Meanwhile, 'Vault Minerals' surged to its highest level in four months after Genesis Minerals made a $5.6 billion takeover offer. The S&P/ASX 200 Index?fell?0.2% at 08826, as of 0008 GMT, after posting its biggest daily gain in over three weeks on Friday. Despite the initial U.S. and Iran agreement, some shipping through the Strait of Hormuz has resumed. However, there is still uncertainty after the last?months' exchange of strikes in response to Iran's attack against a cargo ship.
Danish energy trader Goldman-backed targets US gas expansion after results plummet
The founder and chairman of Danish energy trader InCommodites said that the group, which is backed by Goldman Sachs?, will expand into the U.S. gas market. The company reported on Monday a profit of EUR2,95 million ($3.41million) for 2025, down from EUR72.5 millions the previous year. This is far below its stated forecast of EUR85-195 million. Jesper Johanson said that the drop in earnings was due to?lower volatility, tighter trading margins and investments?into their trading infrastructure, and expansion into the United States and Asia. This process will continue, he added.
New Zealand selects two LNG terminal bidders for energy security
New Zealand announced on Tuesday that it had selected 'two' providers for the proposed liquefied gas import facility. The terminal is a major part of government plans to ensure power supplies during the dry years, as domestic gas production decreases and energy costs rise.Energy Minister Simeon brown said that the government intends to move the two bidding companies to the request-for proposal stage and then sign a contract later this year with a preferred supplier. The facility is expected to start operating…
Bohbot, once considered the top sugar trader in the world, leaves Wilmar
Two sources confirmed on Friday that Jean-Luc Bohbot - once considered the 'world's leading sugar trader - is leaving his position as global head of sugar and ethanol for a 'Asian commodities -trader and food processor Wilmar International. Bohbot announced his departure to his trading team in Geneva on Thursday. The conversation was broadcast via video to the other offices, including Dubai and the headquarters in Singapore. A source within the company confirmed this, but asked not to be identified as he was not authorized to discuss the issue. Wilmar has not responded to a request for comment.
Russell: The war in Iran has a greater impact on refined fuels than crude oil and importers must act.
Media attention is focused on the loss of up to 20% of crude oil and refined fuels due to the continued closure of the Strait of Hormuz. The rapid tightening in the markets for refined products in Asia is a greater concern. Major importing countries like Australia and Indonesia could be facing an "emergency" situation with lower supplies and much higher prices. According to Kpler commodity analysts, Australia is Asia's biggest importer of refined petroleum products. It averages around 900,000. Indonesia comes in second with arrivals of about 600,000.
Take Five GRAPHIC: Giddy up
As the year of fire horse dawns, much of Asia will celebrate the Lunar New Year. This rare combination is said to combine elements of energy and volatility. The markets will be looking for the first from the consumer leader Walmart, and the second from the earnings of European miners. The week will be filled with UK data and leading economic indicators. Indonesia is also facing a crucial central bank decision. Here is everything you need to 'know' about the upcoming week in financial markets from Gregor Stuart Hunter, based in Singapore, Lewis Krauskopf, based in New York and Amanda Cooper and Samuel Indyk, residing in London.
New Zealand predicts 3.7% inflation if the Iran war continues through the year
New Zealand's Finance Minister Nicola Willis stated on Monday that the country's treasury forecasted an inflation rate of 3.7% if a war with Iran continues through this year. New Zealand's inflation rate rose by 3.1% over the past 12 months, exceeding the target rate set by the central bank and forecasts. Willis stated that Treasury modelling for a worst-case scenario with a long conflict in Iran, and oil prices reaching $135 per barrel predicted inflation of 3.7%. She told reporters that she was "looking forward" to the fact that generalised prices may be higher than expected this year.
Australian shares rise as investors buy battered stocks, with banks leading the way
Australian shares eked modest gains on Thursday, as investors picked up beaten-down tech, bank, and energy stocks after a two-day slide triggered by the escalating Middle East conflict. After a 3.2% decline in the two previous sessions, the S&P/ASX 200 rose 0.4% to 8,940.30. Global equity markets rallied after a significant selloff during the previous sessions, following gains in U.S. stocks overnight. Financials in Australia led the way on Thursday with a 0.8% gain, its best session since February 19. Three of the "Big Four' banks increased between 0.4% to 0.6%.
Prime Minister says that the economics of New Zealand’s LNG terminal must be solid to give it approval.
New Zealand's plans to build a terminal for liquefied gas imports are in doubt. Prime Minister Christopher Luxon said on Monday that the government would only approve the project "if the business case was strong". The?government?selected contractors in February to build the facility at Taranaki on the North Island of the country. The terminal was to be ready for LNG by 2027 or 2028. The project was announced by the government in 2025 as a way to improve energy security for the country and reduce costs. Luxon said to Radio New Zealand on Monday that while the government is still at the procurement stage…
Australia shares drop as fears escalate over Mideast conflict
Australian shares fell to a two-week low across all sectors on Thursday, as investors worried about reports of gunfire in the Strait of Hormuz, and faded hopes of a peace agreement. By 0031 GMT the?S&P/ASX 200 index had fallen 0.3% to 8,816.30, its lowest level in over eight months. The benchmark fell 1.2% on Tuesday. Top-weighted financials fell 0.9% and are on course for their ninth consecutive session of losses. Two of the largest banks, Westpac and National Australia Bank, have both reported operational impact this month as a result of war-driven volatility in the market.
Australia shares fall to a 1-1/2-month low due to commodities and Mideast tensions
On Monday, the Australian share index fell to its lowest level since more than a month, weighed down by heavyweight stocks linked to commodities, and a rise in crude oil prices, which stoked inflationary fears. The market was uncertain after the U.S. and Israel war against Iran seemed to be stalling. Meanwhile, U.S. president Donald Trump warned the Iranian leaders that "the clock is ticking" if they do not take action quickly. On the day after a nuclear plant in the United Arab Emirates was attacked, oil prices reached a two week high, bringing back 'inflation concerns' for Australia.
New Zealand signs agreement to support the additional storage of diesel
New Zealand's government announced on Thursday that it would spend NZ$21.6m ($12.42m) on the rapid expansion of diesel storage at Marsden Point, in the 'North Island'. The move is part of its efforts to protect the country from fuel shortages caused by the Iran War. The funding will help facility owner Channel Infrastructure NZ increase its diesel storage by approximately 90 million litres, according to the statement. According to the company, Channel Infrastructure has 290 millions litres in use and another 350 million litres in tanks.
Investors on edge as tensions over tariffs and inflation data keeps investors on edge
Investors remained 'cautious' ahead of important?domestic data and sought clarity about the latest tariff salvo. The S&P/ASX 200 index closed little changed at 9.022.30 points. The benchmark index had closed 0.6% lower Monday. Local markets remained in a wait-and see mode after U.S. president Donald Trump warned that he would increase duties on countries who reneged on recently negotiated trade deals. . Reserve Bank of Australia, the only major central banks outside of Japan to tighten their policy this year is driven by expectations of inflation running above its target band. Tim Waterer is the chief market analyst for KCM Trade.