World News

Hormuz reopening quickly floods oil markets with supply, weighing on prices

An increase in crude shipments from the Persian Gulf, combined with weak Chinese demand and inventory releases, is putting downward pressure on oil prices worldwide

$24.6 bn clean energy financial flows to developing nations in 2024: UN rpt

International public financial flows for clean energy reached $24.6 billion in 2024, while progress on electricity access and clean cooking remained too slow to meet SDG 7 targets

At least 32 killed, 700 injured as powerful twin quakes strike Venezuela

Acting Venezuela President Rodriguez warned the toll was expected to rise as rescuers searched collapsed buildings and emergency crews reached devastated areas

Powerful 7.2 magnitude earthquake hits Venezuela, 'high casualties' likely

Twin earthquakes measuring 7.2 and 7.5 magnitude struck near Caracas, triggering building collapses and emergency rescue efforts; USGS warns of widespread destruction and potential mass casualties

US would reject Iran deal with shipping tolls on Hormuz: Trump warns Tehran

Iran sought to claim control of the strait after US and Israel launched strikes, denying passage to ships that hadn't been pre-authorised and effectively shutting down the waterway

Thailand, Philippines and Argentina primed as supply chain 'rising stars'

A new analysis says several Southeast Asian and Latin American economies are well positioned to attract investment as companies seek more resilient supply chains

Trump-endorsed de la Espriella wins Colombia's presidential runoff election

The businessman and first-time candidate defeated progressive rival Ivan Cepeda, signalling voter dissatisfaction with outgoing President Gustavo Petro's administration

White House seeks $87.6 bn for Iran war, farmers' aid and Ebola response

The supplemental spending request includes $67 billion for defence needs linked to the Iran conflict alongside funding for farmers, Ebola response efforts and domestic projects

Alibaba sues Pentagon in bid to remove 'Chinese military company' label

The Chinese technology company argues that its designation as a military-linked entity lacks a factual or legal basis and was made without a fair process

Magnitude 6.9 earthquake strikes northeast Japan, no tsunami warning issued

Authorities reported no injuries, tsunami threat or abnormalities at nuclear facilities after the strong offshore earthquake struck the Tohoku region

Asian stocks rally as Micron earnings, Qualcomm forecast boost AI optimism

Investor concern that valuations for AI-related companies have become stretched following years of gains has weighed on markets in recent days, leading to volatile sessions

Federal judge blocks Trump bid to require proof of citizenship for voting

A federal judge permanently blocked key provisions of Trump's election order, including a requirement for documentary proof of citizenship to vote

US President Donald Trump says Iran is making very big concessions

U.S. President Donald Trump said Iran is making "very big concessions", adding that developments remain uncertain

Zuckerberg eyeing prediction markets, Meta to create Polymarket-like app

Meta is developing a prediction-market app modelled on Polymarket and Kalshi as Zuckerberg seeks new avenues for growth beyond Facebook and Instagram

SK Hynix plans to raise $29 billion in landmark US listing amid AI boom

SK Hynix plans a $29.4 billion US listing to expand chip capacity, as soaring AI demand fuels one of the biggest share sales in history

AI riches fuel economic divide in chip powerhouse countries of Asia

AI-driven chip demand is powering South Korea and Taiwan's economies, but the windfall is deepening inequality and exposing a widening K-shaped divide

TikTok developer ByteDance seeks $20 billion in its largest offshore loan

ByteDance is in talks to raise a $20 billion offshore loan, potentially its largest ever, as it ramps up investments in AI and infrastructure

Burnham's rival Jones steps aside, clearing his route to 10 Downing

Darren Jones ruled out a Labour leadership bid, leaving Andy Burnham on course to succeed Keir Starmer as UK prime minister by mid-July

Mamdani clout grows after his picks sweep New York City primaries

Mamdani-backed candidates won key New York Democratic primaries, signalling the growing clout of the mayor's progressive coalition

Israel insists on troops in Lebanon; Rubio defends Iran deal in W Asia

Israel says troops will stay in southern Lebanon despite US-backed talks, complicating Iran-US peace efforts as disputes over nuclear inspections persist