Author: Arabian Media staff
The south-east Asian country benefited hugely from US-China tensions, but the Trump tariffs strike at the heart of its economy Source link
Image: Getty Images/ For illustrative purposes Heightened trade tensions and persistent policy uncertainty are set to drag global growth down in 2025 to its weakest level since 2008, excluding outright global recessions, the World Bank said in its latest Global Economic Prospects report. Growth forecasts have been downgraded in nearly 70 per cent of economies across all regions and income groups, with global output now expected to expand by just 2.3 per cent in 2025 — nearly half a percentage point lower than projected at the start of the year. While the report does not forecast a global recession, it…
Stay informed with free updatesSimply sign up to the Oil myFT Digest — delivered directly to your inbox.Oil prices surged on Friday in the biggest move in more than three years as Israel’s air strikes against Iran threaten supplies across the region and sparked a rush to safe haven assets. In early afternoon in Asia Brent crude, the international benchmark, rose about 8 per cent to $74.88 and US marker West Texas Intermediate rose more than 8 per cent to $73.67, with traders concerned the conflict could hit energy supplies in one of the world’s most important oil and gas…
Stay informed with free updatesSimply sign up to the Mining myFT Digest — delivered directly to your inbox.Canada is fast-tracking development of a critical minerals reserve over indigenous opposition to generate much-needed revenue in response to US President Donald Trump’s devastating tariffs.Trump is a “wake-up call” for the country to kick start its economy and developing the Ring of Fire” project in the far north of Ontario is “a top priority”, the province’s premier Doug Ford told the Financial Times. Ring of Fire “has more critical minerals than anywhere else in the world”, Ford said. “Our goal is to get…
One scoop to start: A $35bn US semiconductor industry merger is being delayed by Beijing’s antitrust regulator, after Donald Trump tightened chip export controls against China in a move that exacerbated trade tensions between the world’s two largest economies.A crypto scoop: Anthony Pompliano, one of America’s most prominent crypto influencers, is set to be installed as chief executive of a new publicly traded company that is seeking to raise $750mn to fund a bitcoin buying spree.And another scoop: Thermo Fisher Scientific has put part of its diagnostics unit up for sale for about $4bn in the latest move by a…
This article is an on-site version of our Europe Express newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday and fortnightly on Saturday morning. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. Europe is waking up to a fresh crisis in the Middle East after Israel attacked Iranian military commanders and nuclear sites in a series of air strikes. Tel Aviv says it is trying to stop the Islamic regime’s nuclear programme before it is too late.Meanwhile in Brussels the European Commission’s powerful competition arm is blocking demands to subsidise…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A quarter of the biggest companies in London’s bumper crop of 2021 listings have since left the stock market while those remaining have lost £10bn in value, highlighting the exchange’s struggle to retain top-tier businesses. This week alone two businesses in the 2021 vintage have succumbed to cut-price takeovers. Electric vehicle charging firm Pod Point, which floated with a £352mn market capitalisation agreed on Thursday to be bought for just £10mn by EDF. It followed chip designer Alphawave, which on Monday agreed…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A $35bn US semiconductor industry merger is being delayed by Beijing’s antitrust regulator, after Donald Trump tightened chip export controls against China in a move that exacerbated trade tensions between the world’s two largest economies.China’s State Administration for Market Regulation has postponed its approval of the proposed deal between Synopsys, a maker of chip design tools, and engineering software developer Ansys, according to two people with knowledge of the matter.The transaction between the American groups, which has received the blessing of authorities…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Back in 1857, the Bank of Austria loaded 10mn ounces of silver on to a train and dispatched it to Hamburg. The reason? The city’s banks were about to collapse, having run out of reserves.So Austria sent that “silver train” to provide liquidity. And 30 years later the French central bank did the same with a boat of gold, during Britain’s Barings crisis.Might such aid be needed again, in a 21st-century dollar form? It is a question now being quietly mulled among…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The organisers of the Wimbledon tennis championships are targeting India for growth due to the country’s strong cultural ties to the UK and its huge number of sports fans. Sally Bolton, chief executive of the All England Lawn Tennis Club, told the Financial Times that India had joined the US as a main focus for growing the audience of the sport’s oldest Grand Slam tournament, which begins later this month. The AELTC is exploring a range of things “both physically and digitally” to expand…