Oil prices drop awaiting Mideast peace progress
Oil prices fell and global stock markets traded mixed Thursday awaiting an update on a US plan to end the Middle East war and reopen the Strait of Hormuz.
· Agence France-Presse
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Newest first · UTC+11:00Shell profits surge on rising oil price as Qatar LNG damage increases risks | The National
Shell on Thursday reported surging profits in the first quarter, as the Iran war led to a rise in oil prices, while the most significant impacts for the British energy company have been in Qatar.
· Kyle Fitzgerald
South Sudan's President Kiir fires army chief and finance minister
More changes at the top of South Sudan’s government on Wednesday as President Salva Kiir fired the country’s army chief and a finance minister who’d been in office for less than three months, Reuters news agency reported.
· AfricaNews
Middle East war will slow down economic growth in Africa as cost of living crisis soars, IMF warns
A new wave of global shocks mainly caused by the war in the Middle East is pushing up the cost of living once again and bringing about a revised economic outlook, the IMF's outlook report for sub-Saharan Africa titled 'Hard-Won Gains Under Pressure' shows.
· AfricaNews
Gold futures set for Hong Kong comeback as mainland China’s appetite for the metal grows
City aims to broaden gold offerings and expand clearing and storage facilities to seize opportunities in the surging market
· Julie Zhang
Gold futures set for Hong Kong comeback as mainland China’s appetite for the metal grows
City aims to broaden gold offerings and expand clearing and storage facilities to seize opportunities in the surging market
· Julie Zhang
Iran's grip on the Strait of Hormuz has jolted the world economy
Hundreds of merchant ships remain bottled up in the Persian Gulf as the United States and Iran appear to be moving closer to an initial agreement to end the war. The Strait of Hormuz is the narrow mouth of the Persian Gulf through which a fifth of all traded oil and natural gas passes, as Iran has restricted movemen…
· Melanie Lidman
Can Israel's war economy survive its growing global isolation?
Can a nation remain on a permanent war footing and survive, even thrive?
· Middleeasteye
South Sudan's President Kiir fires army chief and finance minister in latest reshuffle
More changes at the top of South Sudan’s government on Wednesday as President Salva Kiir fired the country’s army chief and a finance minister who’d been in office for less than two weeks.
· AfricaNews
Dawn airport drinkers call out Ryanair boss on proposal to ban ‘holiday ritual’
Stansted passengers disagree that stopping airports serving alcohol before early flights will reduce bad behaviour
· Sammy Gecsoyler
Trump rips $1,000 World Cup ticket prices, tells The Post: ‘I wouldn’t pay it either, to be honest’
President Trump blasted sky-high 2026 FIFA World Cup ticket prices in an exclusive interview with The Post, saying even he wouldn’t pony up the $1,000 needed to watch the US play in the team’s opening game against Paraguay next month.
· James Franey
Goldman Cuts ARM To Sell On Shocking Smartphone Weakness
Arm Holdings ADRs sank nearly 9% in premarket trading, on track for the largest intraday decline in almost a year, after the chip-architecture company reported softer-than-expected fiscal fourth-quarter royalty revenue tied to a slowdown in the smartphone industry, while assuring investors that data center demand ca…
· Tyler Durden
FDA announced food dyes changes, but rules haven't followed
Health and Human Services Secretary Robert F. Kennedy Jr. testifies before a Senate Committee on Finance hearing on Capitol Hill, Wednesday, April 22, 2026, in Washington. (AP Photo/Jose Luis Magana)
· Matthew Perrone
Oil Market: Africa facing new turbulence [Business Africa]
Across Africa, economies remain closely tied to the oil market. OPEC and its allies recently announced a production increase of 188,000 barrels per day, though the move remains largely symbolic, as actual output still falls below quotas.
· AfricaNews
Over 80% Of Young Adults Believe Economy Is 'Bad/Terrible' And We're Seeing The Consequences All Over America
Authored by Michael Snyder via The Economic Collapse blog,
· Tyler Durden
Private firms can help stop Western sanctions from ‘strangling’ China’s military: general
The authorities should give companies a greater voice in civilian-military collaboration, Major General Zhang Zhan argues
· Liu Zhen
Private firms can help stop Western sanctions from ‘strangling’ China’s military: general
The authorities should give companies a greater voice in civilian-military collaboration, Major General Zhang Zhan argues
· Liu Zhen
Paul Tudor Jones says AI bull market has 'another year or two to run'
Paul Tudor Jones said the artificial intelligence-fueled bull market still has further to run, adding that he recently bought more related stocks as he looked for parallels to earlier tech booms.
· Yun Li
Kremlin Offers Thoughts and Prayers to Businesses Hurting From Constant Internet Outages
The Kremlin said Thursday that it is not planning to offer financial support to businesses that have seen their bottom lines negatively impacted by persistent mobile internet outages in Moscow and other cities throughout the country in recent months.
· The Moscow Times
Jobless Claims & JOLTs Confirm 'Higher Hire, No Fire' Economy
With JOLTs data showing record hiring (and ADP signaling acceleration in job additions), today we get some signal on firings as the number of Americans filing for unemployment benefits for the first time was at 200k last week (below the 205k exp) and continuing to languish near multi-decade lows (near 1967 lows!!)...
· Tyler Durden
Indonesia prepares Bond Stabilization Fund amid rupiah depreciation
Indonesia hopes to stymie capital outflows by activation of its Bond Stabilization Fund. (Photo by Akira Kodaka)
· Staff Writer
Indonesia prepares Bond Stabilization Fund amid rupiah depreciation
Indonesia hopes to stymie capital outflows by activation of its Bond Stabilization Fund. (Photo by Akira Kodaka)
· Staff Writer
Albanese to tip $3.8 billion into Suburban Rail Loop ‘locked box’
Prime Minister Anthony Albanese will pour $3.8 billion into the Suburban Rail Loop despite inflation and debt fears, money that Labor will place in a “locked box” only to be spent on a project that federal and state Coalition parties have remained steadfast against.
· Kieran Rooney, Paul Sakkal
China vows action after EU cuts funding for green projects using Chinese inverters
The commerce ministry warns the move will backfire on the EU, hitting its energy security and green transition
· Xiaofei Xu
China vows action after EU cuts funding for green projects using Chinese inverters
The commerce ministry warns the move will backfire on the EU, hitting its energy security and green transition
· Xiaofei Xu
Boaz Weinstein’s Saba pauses activism against 9 UK funds after Herald deal
Saba Capital, the hedge fund led by Boaz Weinstein, has agreed to a three-year pause to its activist campaign against up to nine London-listed funds after a deal to secure the future of the Herald Investment Trust.
· Mike Sheen
"Semi-Irrational Chase" Sends Futures To Another Record High, Oil Drops On Iran Optimism
The global market meltup is rolling on. US stock futures inch higher, but are off session highs, with oil falling for a third straight day as traders waited for updates on a potential US-Iran peace deal that would reopen oil flows through the Strait of Hormuz. As of 8:00am ET, S&P and Nasdaq futures were 0.1% higher…
· Tyler Durden
DP World launches cargo war risk insurance for Middle East routes amid trade disruption | The National
Dubai ports operator DP World has launched cargo war risk insurance as Middle East trade routes remain severely disrupted by the fallout from the Iran war.
· The National
China, US drive global debt to record $353 trillion as Iran war adds pressure: report
New report warns that rising conflicts, AI spending and energy security push are all expected to further increase global debt levels
· Ralph Jennings
China, US drive global debt to record $353 trillion as Iran war adds pressure: report
New report warns that rising conflicts, AI spending and energy security push are all expected to further increase global debt levels
· Ralph Jennings
Angola and Gabon strengthen ties with new cooperation agreements
Angola and Gabon on Wednesday signed three new agreements aimed at deepening collaboration in key economic sectors, as the two oil-producing nations seek to diversify their economies and strengthen regional partnerships.
· AfricaNews
Whirlpool says Iran war causing 'recession-level industry decline.' The shares are down 20%
Whirlpool shares tumbled Thursday after the iconic appliance maker warned that the war in Iran triggered a severe downturn, underscoring how sharply higher fuel prices and collapsing consumer confidence are beginning to weigh on big-ticket purchases.
· Yun Li
Roskomnadzor Is Coming for Your Sims
Russia’s media regulator Roskomnadzor has filed lawsuits against some of the world’s largest video game companies for refusing to store the personal data of Russian gamers on servers inside the country, the Kommersant business newspaper reported Thursday.
· The Moscow Times
WATCH: PH Coast Guard challenges illegal Chinese activities in economic zone
The Philippine Coast Guard says it challenged alleged illegal Chinese marine scientific research activities and monitored dozens of Chinese maritime militia vessels during a maritime domain awareness flight over the Kalayaan Island Group on May 7, 2026. The agency said the activities violated the United Nations Conv…
· The Manila Times
S. Korea vital for India’s 2047 vision
South Korea is emerging as a key partner in India’s long-term economic and strategic transformation, one central to India’s Viksit Bharat vision of becoming a developed nation by 2047, Indian Ambassador to Korea Gaurang Lal Das said Thursday.
· Sanjay Kumar
Appeals court sides with Google in corporate tax cancellation case
An appeals court on Thursday upheld a lower court ruling siding with Google Korea in a corporate tax cancellation case worth over 150 billion won ($103 million).
· Yonhap
Whirlpool Crashes After Iran Shock Sparks "Recession-Level" Appliance Slump
Whirlpool shares crashed as much as 20% in premarket trading after the appliance maker slashed its full-year outlook and posted weaker-than-expected first-quarter results. Management directly blamed the three-month war in the Middle East for triggering a collapse in U.S. appliance demand.
· Tyler Durden
Hong Kong’s secondary luxury home deals pick up as business families hunt for value
Family behind Nameson buys Tai Po flats at prices near 2014 levels, while Tat Ming-linked couple sells Repulse Bay unit for HK$170 million
· Peggy Ye
Hong Kong’s secondary luxury home deals pick up as business families hunt for value
Family behind Nameson buys Tai Po flats at prices near 2014 levels, while Tat Ming-linked couple sells Repulse Bay unit for HK$170 million
· Peggy Ye
Appeals court sides with Google in corporate tax cancellation case
SEOUL, May 7 (Yonhap) -- An appeals court on Thursday upheld a lower court ruling siding with Google Korea in a corporate tax cancellation case worth over 150 billion won (US$103 million).
· Chae Yun-hwan
Airlines still have to pay compensation if flights cancelled due to fuel crisis, EU says
Ryanair says that unlike others it will not be cancelling summer flights, as it hedged fuel contracts before Iran war
· Lisaocarroll
Gold and silver's historic rally could resume 'as fog of war lifts', market watchers say
The rally that propelled gold and silver to record-breaking highs in 2025 could pick up again if a U.S.-Iran peace deal is reached, market watchers told CNBC as prices ticked higher on Thursday.
· Chloe Taylor, Joseph Wilkins
EU agreement on US trade deal within reach, says top lawmaker
BRUSSELS — An agreement to implement the EU’s trade deal with the United States is on track to be finalized later this month, senior lawmaker Bernd Lange told POLITICO.
· Camille Gijs
Wuliangye majority shareholder steps in with large-scale stake purchase
Investors welcome Wuliangye’s multibillion-yuan share purchase plan after weak earnings and industry destocking hit sentiment
· Zhu Wenqian
Wuliangye majority shareholder steps in with large-scale stake purchase
Investors welcome Wuliangye’s multibillion-yuan share purchase plan after weak earnings and industry destocking hit sentiment
· Zhu Wenqian
First Turkey-Japan defense event in Istanbul signifies closer cooperation
The first Turkey-Japan Defense Industry Cooperation Day took place on the sidelines of the 5th edition of the biennial SAHA International Defense & Aerospace Exhibition that is ongoing until Saturday. (Photo by Kana Watanabe)
· Staff Writer
Hong Kong to open applications for restaurant dog-friendly licences on May 18
First phase of new scheme capped at 1,000 eateries, with successful applicants expected to be able to admit pets from July
· Danny Mok
Hong Kong to open applications for restaurant dog-friendly licences on May 18
First phase of new scheme capped at 1,000 eateries, with successful applicants expected to be able to admit pets from July
· Danny Mok
Adnoc Distribution 'optimistic' about higher fuel demand despite price rise | The National
Adnoc Distribution, the UAE's largest fuel and convenience retailer, is “optimistic” about higher fuel demand despite recent price increases as a result of higher oil prices, its chief executive has said.
· Fareed Rahman
Prosecution again rejects arrest warrant request for Hybe chairman
Prosecutors said Thursday they have again rejected a police request for an arrest warrant for Bang Si-hyuk, chairman and founder of K-pop powerhouse Hybe, citing a lack of supplementary investigation into his alleged unfair stock trading case.
· Yonhap