Finance news

Proposed Sai Kung marine park to cover most coral reefs: Hong Kong authorities

A planned marine park in waters surrounding Sharp Island in Sai Kung will cover most coral reefs, Hong Kong authorities have said, allaying a green group’s concerns about insufficient protection of ecologically sensitive areas. Janet Lee Ka-wai, senior marine conservation officer at the Agriculture, Fisheries and Conservation Department, also said on Wednesday that underwater mapping technology had been used to assess coral coverage and identify ecological sites. Major coral spots identified in.

Weekly mortgage demand surges nearly 11% higher, despite volatile interest rates

Mortgage demand from both current homeowners and potential buyers rose sharply, even though interest rates climbed as well.

Gold, silver and bitcoin fall as traders up Fed rate hike bets

Precious metals were firmly in negative territory, as fears about inflation and the Federal Reserve's interest rate path weighed on investor sentiment.

China Begins Tapping Oil Stockpiles as Middle East Crisis Drags On

China began tapping its huge oil reserves in May, three months after the Middle East conflict wiped out about a tenth of global supply, in a sign that Beijing is still refraining from paying top-dollar for prompt crude deliveries. Over the next few months, China is expected to draw an average of about 1 million barrels per day (bpd) from its massive oil stockpiles, according to estimates by energy consultants and energy flow-tracking firms Energy Aspects, Kpler, and Vortexa cited by Bloomberg. C

Current gold price: Gold price falls to three-month low – interest rate fantasy depresses precious metal

The price of gold falls below a psychologically important level. Meanwhile, the market is awaiting the US Federal Reserve's interest rate decision. Current news about the gold price in the news blog.

Alberta Eyes General Corridor for New Pacific Oil Pipeline

Alberta is more likely to propose a “general corridor” rather than a specific route for the new 1 million-barrels-per-day oil pipeline to the British Columbia coast that’s expected to receive federal government approval as a project of national interest. Canada’s oil heartland, Alberta, has been seeking to advance the new pipeline for months, but it doesn’t have a firm route hashed out yet, because it needs talks and consultations with indigenous communities and British Columbia’s provincial aut

Setting sea border with Japan vital: Philippine foreign secretary

China’s factory price jump contrasts with muted consumer inflation

China’s factory gate prices rose by the most since 2022, surpassing expectations, as higher oil costs stemming from the war in Iran help manufacturers escape years of deflation. The producer price index rose by 3.9 per cent from a year earlier in May, more than the 3.5 per cent forecast of economists surveyed by Wind. Consumer prices rose by 1.2 per cent, the same as in April and below the 1.4 per cent forecast. Manufacturers have raised prices for three months in a row after the conflict in the

Beijing detects suspected Japanese spy jets near Taiwan

Mainland Chinese maritime authorities detected what analysts believed to be Japanese surveillance aircraft southeast of Taiwan on Monday, after Beijing bolstered patrols around the waters following border talks between Japan and the Philippines. Beijing’s maritime law enforcement twice detected what appeared to be fixed-wing aircraft belonging to the Japan Coast Guard during its patrol southeast of Taiwan on Monday, according to a video published on Tuesday by Yuyuan Tantian, a social media...

Indonesian union boss defends joining Prabowo’s government

Prabowo Subianto has brought one of Indonesia’s most prominent labour leaders into his administration, giving organised labour a voice inside the presidential palace while also fuelling concerns that the country’s unions are being pulled away from street-level activism. Said Iqbal, former president of the Indonesian Trade Union Confederation (KSPI), defended his appointment as special adviser on labour affairs in an exclusive interview with This Week in Asia, arguing that workers needed direct..

Energy prices take center stage as the ECB prepares to decide on rates

The ECB is expected to raise rates by 25 basis points as higher energy prices drive inflation and raise concerns about broader price pressures.

Interest rate comparison: Savings banks and Volksbanks pay little interest for overnight money

Savers often receive significantly less interest at savings banks and Volksbanks than at national banks. The ECB's key interest rates are now expected to rise - and some customers are benefiting.

Chinese economy: China's producer prices rise sharply in almost four years

High energy prices and the AI ​​boom are driving China's producer prices: the strongest increase since 2020 is causing new inflation concerns.

Markets: Dax firmer at opening – US inflation in sight

The Dax is off to a stronger start than expected. The expected US inflation data is still causing excitement. The price of oil remains relatively unchanged.

Inflation: Inflation in China remains stable – producer prices are rising significantly

The high oil prices continue to keep inflation high, even if experts expected even higher inflation. Prices could rise even more significantly in the coming months.

Filipino ex-cop in South Korean businessman’s 2016 murder caught after 2 years on the run

A dismissed high-ranking Filipino police officer convicted of orchestrating the 2016 killing of South Korean businessman Jee Ick-joo was arrested in the Philippine capital of Manila after nearly two years on the run, authorities said on Wednesday. President Lee Jae Myung welcomed the arrest, vowing to seek justice for criminals targeting South Koreans abroad and expressing gratitude to officials in both countries for their joint efforts. Rafael Dumlao, who was a top official of an anti-drug unit

Teacher gets good behaviour bond after slapping 13-year-old son in Hong Kong

A teacher in Hong Kong has been spared a criminal conviction for slapping her 13-year-old son during a heated dispute last year after entering into a three-year good behaviour bond. The 35-year-old was bound over for HK$1,000 (US$128) at Kwun Tong Court on Wednesday for three years on a charge of assault by a person in charge of a child or young person. Court documents identified her only as MBC and did not disclose her nationality. She was accused of slapping her son at their Sai Kung home on..

Fake June CPI leak? June 10

I've seen a lot of rumors on reddit that an insider has leaked the June CPI numbers, and that this could've played a part for the decline in stocks today. However, I can't find any source or evidence that the CPI was leaked. Given what I currently know, I believe that this could be a case of misinformation spreading fast. Are my beliefs justified or have I missed something? submitted by /u/Competitive_Use9387 [link] [comments]

China May wholesale inflation hits near 4-year high on Iran war, AI costs; CPI misses

Price growth has been boosted by a surge in global commodity costs, as the Middle East conflict disrupted energy and raw material flows.

Are Hong Kong civil servants being punished for Tai Po fire with flat 2% pay rise?

Factoring Hong Kong’s deadly Tai Po fire into a civil service pay review has dealt a blow to staff morale and risks creating perceptions of populism, unions have warned, saying a proposed 2 per cent across-the-board rise fails to offset inflation or reflect overall performance. Human resources experts, however, said public sentiment had to be considered as pay adjustments involved allocating taxpayers’ money, while the modest rise would have very limited impact on the private sector. The...

Interest rate comparison: Savings banks and Volksbanks pay little interest for overnight money

Savers often receive significantly less interest at savings banks and Volksbanks than at national banks. The ECB's key interest rates are now expected to rise - and some customers are benefiting.

Oil choppy after U.S. completes Iran strikes following Apache helicopter attack

Oil prices rose after the U.S. launched military strikes against Iran, raising concerns that renewed clashes may threaten shipping through the Strait of Hormuz.

China to bust Yangtze River chokepoint with US$11 billion ‘water staircase’ project

Eyeing massive new shipping facilities near the Three Gorges dam, China has formally begun construction on an ambitious project to enable the passage of larger vessels and streamline logistics along the nation’s most critical waterway. The centrepiece of the planned 77.2 billion yuan (US$11.4 billion) infrastructure buildout, which looks to span nearly a decade, is a series of mega ship locks – colossal structures also known as “water elevators” or “water staircases” that are built into a...

Super Micro stock tumbles on $7 billion financing plans as company touts AI server orders

Super Micro is the latest company tied to the AI boom to announce that it's tapping the capital markets.

US Crude Oil, Gasoline Inventories Keep Sinking, but Prices Don’t Care

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 9.119 million barrels in the week ending June 5. Analysts had expected a 3.4 million draw. In the week prior, US crude oil inventories fell by 6.75 million barrels. Despite inventories dropping by a hard-to-stomach 44 million barrels over the last 8 weeks according to API data, US crude inventories are still up almost 7 million barrels so far this year, according to API data. Inventories in t

Federal Reserve Board announces that results from its annual bank stress test will be released on Wednesday, June 24, at 4 p.m. EDT.

Federal Reserve Board announces that results from its annual bank stress test will be released on Wednesday, June 24, at 4 p.m. EDT.

Sales of million-dollar homes suggest inflation is spurring the wealthy to buy now

Inflation is pulling rich buyers and struggling renters in different directions in housing market.

The May inflation numbers are due out Wednesday morning. Here's what to expect

If the Wall Street consensus is correct, the consumer price index is expected to show inflation running at a 4.2% annual rate.

BLM Opens Review of 126,744 Acres for Colorado Oil and Gas Lease Sale

The Bureau of Land Management has opened a 30-day public scoping period for a proposed December 2026 oil and gas lease sale in Colorado, putting more than 126,000 acres on the table for potential future development. The agency said Tuesday it is seeking public input on 114 parcels totaling 126,744 acres that could be included in the sale. The comment period runs through July 9. The acreage spans federal lands managed by the BLM and represents the latest step in a leasing process that has become

Coast Guard, Saildrone team up in northern waters to boost border security, surveillance

The Voyager is equipped to conduct persistent coastal surveillance and nearshore mapping missions while remaining at sea for roughly 100 days at a time.