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OilPrice.com2d

Australia Set to Include Existing LNG Deals in Gas Reservation Scheme

Australia plans to include existing LNG contracts in its so-called Domestic Gas Reservation scheme, expected to come into force in July 2027, to ensure local supply. The new Australian regulation, which is still a draft proposal subject to consultation from industry and other stakeholders, requires that local producers set aside 20% of their domestic production for the Australian gas market. Under the draft Design Framework, the Australian government published on Monday, the Government has been

middle-east · russia · usa
South China Morning Post Business2d

As Chinese EV makers expand in Europe, are local automotive suppliers set to benefit?

European automotive suppliers are set to benefit from an influx of Chinese carmakers, thanks to growing demand for electric vehicles (EVs) and persistent local protectionism, according to Vulcan Energy Resources, a lithium and renewable energy producer in Germany. Chinese EV makers – from BYD to Xpeng – are planning to aggressively expand into Europe in search of higher profit margins, even as Brussels advances measures to protect local manufacturing amid a slower pace of electrification. On...

china · asia · germany
South China Morning Post Business2d

China ‘crazy boss’ shares AI images of him in women’s outfits, aims to become world’s richest

The founder of a fast-rising Chinese tech firm has become known as China’s “crazy boss” after a string of online stunts. Yu Hao, 39, from Jiangsu province in eastern China, is the founder and CEO of Dreame Technology, a smart home appliance maker best known for high-end robot vacuum cleaners. Founded in 2017, Dreame has grown rapidly in China’s crowded smart appliance sector. Public records show the company was once valued at about 45 billion yuan (US$6.6 billion) and it is reportedly aiming for

china · asia · usa
South China Morning Post Business2d

Hong Kong school to investigate potty-mouthed principal before deciding on action

The manager of a Hong Kong secondary school whose principal swore at security guards during a trip with students to Singapore will investigate the incident, but said it is too early to decide whether he should face any disciplinary action. Edmund Wong Chun-sek, a former lawmaker and school manager of San Wui Commercial Society Secondary School in Tuen Mun, added that the school wanted to ensure students on the trip were not affected by the incident. His remarks came after education authorities..

china · asia · usa
OilPrice.com2d

Rubio Plays Down Imminent U.S.-Iran Deal

The U.S. will deal with Iran “another way” if it does not reach a good deal with the Islamic Republic, U.S. Secretary of State Marco Rubio said on Monday, playing down hopes that an agreement is imminent. Following signals from Washington during the weekend that the U.S. and Iran could be nearing a framework agreement, oil prices plunged on Monday in Asian trade, with Brent Crude prices slipping below the $100 per barrel mark. However, losses were being contained at about 3-4% in the morning in

middle-east · russia · usa
South China Morning Post Business2d

Philippine rescuers race to free workers trapped after hotel collapse

Philippine rescuers were racing against time on Monday in a search for possible signs of life more than 24 hours after the collapse of a building under construction in the city of Angeles, with crews carefully removing rocks and surrounding debris by hand. The painstaking manual operation around 80 km (50 miles) north of the capital Manila underscored the difficulty of the rescue effort, ‌carried out under scorching heat, with authorities unable to rely on excavators and other machinery for fear

china · asia
South China Morning Post Business2d

China boosts services for migrant workers to spur consumption

China will improve access to healthcare, education and other public services for the nation’s 357 million-plus migrant workers, potentially boosting urban living standards and stimulating consumer spending. Local governments will end their restrictions on employee social security and expand access to public schools for the children of migrants, according to an announcement on Friday by the State Council, China’s cabinet. They will also remove bureaucratic restrictions affecting migrant residents

china · asia · usa
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