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Crude soars, stocks drop after US strikes on Iran
enca38d ago

Crude soars, stocks drop after US strikes on Iran

Crude soars, stocks drop after US strikes on IranEstelle.BronkhorstMon, 03/02/2026 - 09:00 HONG KONG - Oil prices soared and stocks fell in Asia on Monday after US-Israeli strikes on Iran sent investors fleeing the prospect of an extended conflict in the crude-rich Middle East.Brent briefly spiked almost 14 percent and West Texas Intermediate nearly 12 percent at the start of business after the attack on the Islamic Republic, which killed supreme leader Ayatollah Ali Khamenei and other senior officials.The bombings have also seen the vital Strait of Hormuz -- through which around 20 percent of global seaborne oil passes -- effectively shut and several ships attacked, fanning supply fears.Equity markets across Asia sank, with Tokyo, Hong Kong, Singapore, Wellington and Taipei all deep in the red. US futures were down more than one percent.However, energy firms rallied, with Australia's Woodside Energy jumping more than five percent and Santos climbing nine percent, while PetroChina added almost four percent in Hong Kong. Inpex in Japan was up more than 10 percent.Gold -- a key go-to safe haven in times of turmoil -- climbed two percent.While the strikes have ramped up geopolitical worries, traders wound down their initial bets, with crude sitting around five percent higher and stock markets paring losses.Brent, the international benchmark for crude, had already rallied last week on growing concerns Trump would order an attack as talks aimed at curtailing Iran's nuclear programme stuttered."If higher oil prices persist, it raises the risk of stickier headline inflation and can slow the pace at which inflation prints improve," wrote Saxo Markets' Charu Chanana."That does not automatically mean policy tightening, but it can make the Fed more cautious about cutting quickly, because energy-driven inflation can spill into expectations and broader pricing behaviour over time."The US president has called on Iranians to rise up against their government and said the war could last "four weeks".Iran's retaliatory missile and drone campaign in the Gulf killed four people and wounded dozens more, the UAE foreign ministry said.While Iran has not officially closed the Strait of Hormuz, its Revolutionary Guards have warned against transiting the waterway.

#COMMODITIES
miningweekly38d ago

China’s ‘encouraging’ hydrogen progress witnessed first-hand by Northam Platinum

The ‘encouraging’ recent developments of the hydrogen economy in China have been witnessed first-hand by South Africa’s platinum group metals (PGM) miner and marketer Northam Platinum. This was highlighted by the Johannesburg Stock Exchange-listed company during last week’s presentation of record production and record sales volumes for the six months to December 31.

#ECONOMY
Central Phuket Unveils US$836 Million Expansion to Drive Phuket's Transformation into a Global Luxury Living and Investment Hub
en_prnasisa38d ago

Central Phuket Unveils US$836 Million Expansion to Drive Phuket's Transformation into a Global Luxury Living and Investment Hub

PHUKET, Thailand, March 2, 2026 /PRNewswire/ -- Central Pattana Plc., the retail-led real estate arm of Central Group—a multi-format retail, real estate, and hospitality conglomerate with a presence across Asia and Europe—has announced an approximately US$836 million expansion of Central Phuket, underscoring Phuket's structural shift toward becoming a global luxury living and investment hub.Click: https://youtu.be/yD8HS8kyGXY Central Phuket Unveils US$836 Million Expansion to Drive Phuket’s Transformation into a Global Luxury Living and Investment Hub The expansion will increase the mixed-use development's total space by 40% to approximately 500,000 square meters, with full completion targeted for 2028. Long established as Phuket's commercial anchor, Central Phuket has operated at the core of the island's retail economy across 44 acres for more than two decades. The new investment signals a broader urban transition: from a tourism-led resort market to a year-round coastal economy supported by long-stay residents, high-net-worth individuals, second-home buyers, and growing international capital inflows. A central component of the expansion is the development of Phuket's largest culinary hub outside Bangkok, spanning more than 20,000 square meters. The project will introduce premium international dining concepts and Michelin-recognized restaurants, further strengthening the island's global lifestyle positioning. The development comprises three core components: Central Phuket Floresta will double its luxury footprint by Q4 2026, consolidating flagship luxury boutiques and exclusive brand concepts within what is emerging as Phuket's downtown luxury district. Central Phuket Festival, scheduled for completion in Q1 2028, will house more than 250 fashion and bridge-line brands, including Southeast Asia's largest ZARA flagship alongside ALO, COS, H&M, LULULEMON, ORLEBAR BROWN, and UNIQLO—positioning Phuket as an increasingly strategic entry point for global brands expanding in Thailand. A 5.5-acre Attractions Zone, due in Q3 2028, will introduce a purpose-built arena for entertainment and culture, designed to attract tourists from around the world. Central Pattana positions the project not merely as a retail expansion but as core urban infrastructure underpinning Phuket's downtown formation. Supported by expanding residential supply and airport capacity upgrades, Central Phuket is expected to function as an integrated luxury ecosystem where global brands establish flagship presences and institutional capital consolidates. By 2028, the development is projected to stand at the center of Phuket's emergence as a globally competitive luxury coastal economy. #CentralPhuket #CentralPattana

#ECONOMY
When The Return Flight Is The Only Goal: Merz Ends China Trip
zerohedge38d ago

When The Return Flight Is The Only Goal: Merz Ends China Trip

When The Return Flight Is The Only Goal: Merz Ends China Trip Submitted by Thomas KolbeIt took some time for the supposed difference between Annalena Baerbock’s feminist foreign policy and the approach that the diplomatic corps under Chancellor Friedrich Merz would take to become clear. What has changed is less the substance than the performative act. Under the Sauerland-born Merz, tone and gestures shifted—the staging is meant to appear more masculine, sober in style, perhaps more professional, less embarrassingly activist—but the content remains largely unchanged.Ironically, arch-enemy Donald Trump became the spiritus rector of a new theatrical element in the Chancellor’s media showcase. In Trump-style, Friedrich Merz announced on February 25 the climax of his China trip: the conclusion of a major order for the European aerospace giant Airbus. China will acquire 120 aircraft, models A320, A350—details to follow later—ordered from the company that has become the most successful “success child” of the European project.The Chinese hosts are politely attentive: they don’t let the Chancellor return home empty-handed and grant him quick fame in the 2026 super-election year. Images, headlines, pathos—the stage is set. The Chancellor as doer, as promoter of German and European interests, as a foreign-policy acquirer in global competition—a German Donald Trump?A sober look at the numbers puts the theatrics in perspective. Year after year, Chinese customers fill Airbus’s order books with hundreds of aircraft. Major orders from China are no exception; they are part of a long-established procurement rhythm. Demand is structural, not spontaneous—the production slots had long been planned and coincided with the Chancellor’s trip by chance.A media storm in Trump-style, with the small but crucial difference that the U.S. president returns from foreign trips with real investments in his industry’s production capacity. Factories are built, sites expanded, capital flows measurably into American value creation. Whatever the magic formula—tariffs, deregulated economy, robust growth—America attracts real investments, binding capital and industrial substance domestically.Friedrich Merz, by contrast, presents routine industrial orders as personal triumphs. He frames scheduled large orders as the result of his diplomatic prowess—a German deal-maker in action. But the crucial difference is that for career politician Merz, only media impact counts. One brings production capacity home; the other brings press releases.Let’s credit Merz: his trip falls during a critical election phase. In such moments, images, gestures, and quickly digestible wins matter. Fleeting triumphs feed the narrative of the doer in the chancellery, regardless of catastrophic domestic performance.It is also reassuring that Germany continues to receive the highest protocol honors in China and that Beijing evidently values German history more than the sad present. Reception in the Great Hall of the People by Premier Li Qiang, a personal audience with President Xi Jinping, evening dinner, military welcome at the airport. The choreography is flawless: flags, honor guards, carefully staged images. Protocol-wise, Germany still plays in the Champions League.Geopolitically, however, the picture is different. Merz called China a “strategic partner” before the trip without defining what this means in the current world situation. Beijing firmly backs Moscow in the Ukraine war. How does the Chancellor think the EU’s 20 sanction packages against Russia affect relations with Beijing? Every new measure against Russia is not just a signal to the Kremlin but also a geopolitical marker toward China.Merz could personally observe China’s perspective on Germany and the EU’s growing isolation in geopolitics. Protocol pomp does not reverse strategic erosion. From Beijing’s perspective, the question is simple: what offer should one make to a delegation from a country that has weakened its industrial base through self-inflicted dismantling while simultaneously complaining about trade disadvantages?The consequences of European eco-socialism are immense. Germany has become a net importer of capital in trade with China. The trade balance increasingly tilts against it. In key industrial sectors, competitive advantages have eroded; energy-intensive value creation is under pressure.Against this backdrop, sympathy for the Chancellor and his economic representatives is limited. The misery is homegrown. Every new regulation, levy, or transformation mandate tightens industry further, reducing Germany’s flexibility in global competition.In China—a political dictatorship under a single party but economically largely guided by market efficiency—German-European moralizing meets maximum incomprehension. There, scale effects, productivity, market share, and technological sovereignty matter. Moral self-assurance does not replace industrial strength.Merz lamented unfair Chinese trade practices given Germany’s deep trade deficit. Market access must be fair, disadvantages avoided. The words sound determined, aimed at reciprocity in global trade. And they sound naive.Because isn’t it worth asking whether Europeans have long been world champions of hidden protectionism? Whether German and European policies repeatedly sparked the grotesque race toward emission-free economies via maximal repression? Regulatory hurdles, taxonomies, supply-chain laws, CO2 border adjustments—all form a dense mesh of indirect market barriers.It is by no means China’s fault that Germany’s economic propulsion—industry, engineering, machinery, automotive—has, under EU regulations and energy-transition fanaticism, disassembled at accelerated speed. Those who systematically eliminate their own cost advantages lose ground globally and geopolitically.Merz exemplifies a European political class eager to blame external actors for structural weaknesses. He is living proof that Europe and Germany have a long way to go before a brutally honest assessment of problems.Flattering China and the apparent alignment on population surveillance and censorship expansion makes Europe, at best, an unloved vassal of Beijing.Europe, as a cultural entity, should seek salvation in alignment with Americans. In the bastion of free markets, deregulation, and rational energy policy—in the land of ICE and Christian-humanist cohesion—lies the most likely, only acceptable future for European policy.China sees Europe as a dumping ground for surplus production—Europe as a decaying heir of the colonial era. European markets absorb domestic overcapacity. Structural dependency on resources like rare earths and energy grows. The leverage is not in Europe.The era of European dominance is over. Moral self-assertion against factual dependence? Helpless. Puerile. Expensively paid.Friedrich Merz’s visit to China was a campaign appearance for the CDU. He followed diplomatic protocols but was substantively unremarkable. The images were staged; strategic impact remains limited. Europe deserves better policy.* * * About the author: Thomas Kolbe, a German graduate economist, has worked for over 25 years as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination. Tyler DurdenMon, 03/02/2026 - 02:00

#ECONOMY
Greenland is 'open for business' -- kind of, says business leader
enca38d ago

Greenland is 'open for business' -- kind of, says business leader

Greenland is 'open for business' -- kind of, says business leaderEstelle.BronkhorstMon, 03/02/2026 - 09:00 NUUK - As Greenland's rare earths and minerals are sized up, the head of the Arctic territory's main business group has warned against deals simply shipping its resources and profits overseas.Christian Keldsen, head of the Greenland Business Association, told AFP that the government must avoid saying that Greenland is "open for business" when in reality, long and difficult negotiations lie ahead.Some other countries may become frustrated, Keldsen said, calling for balanced development in the autonomous Danish island in the global spotlight since US President Donald Trump returned to power.Trump, who said Greenland should come under US control for security reasons, alarmed Denmark and other European nations by at one point refusing to rule out the use of force. As its ice covering melts, Greenland's mineral resources are increasingly coveted.Greenland has long survived on subsidies from the Danish government that account for about 20 percent of its economy. It knows it needs massive investment to survive on its own. "The risk obviously is that if you open the floodgates too much, you're going to get companies in and they're going to take everything out and all the revenue goes out of the country as well," said Keldsen, whose office is in a wooden house in the capital Nuuk. "So finding the right balance of creating local value and wealth and at the same time being attractive to investors and to the projects -- that's what we need to be finding." - 'Interested in business' -Fishing, mainly cod, is Greenland's main industry, and the key Royal Greenland fishing company is a semi-state enterprise.The island's telecoms and electricity companies are also state-owned, given the difficulties in providing services to the many isolated corners of the territory of just 57,000 people.Greenland wants to develop tourism and its mining sector -- but not for nothing. AFP | Florent VERGNES In November, the parliament passed a law restricting the purchase of property and land use rights of foreign entities.And Keldsen said the public-dominated economic model is not suited to a sudden opening up."So our government is saying, 'we're open for business'. And we say, please don't say 'open for business'. Please say 'we're interested in business'."Because it takes five minutes of due diligence for any lawyer in France or the US or Canada or Denmark to say, it's not very open for business."According to Keldsen, Greenland was "always in control of everything domestically"."We were in control of the offering, the pricing, demand, everything. But now we have to trade with the outside world." - Mineral resources -North American and European companies are interested in Greenland's vast mineral resources that could play a crucial role in many new tech and defence industries. AFP | Florent VERGNES A lot of people think that "the money is just going to come flooding out of the underground", said Keldsen, who predicted disappointment for many.Mining can take decades to become profitable, and the high cost makes revenues uncertain.In mid-February there were 138 mining licences, but only two operating mines. Most of the licences are held by small speculative concerns hoping to sell on their rights later at a profit.And Greenlandic authorities tightly control the allocation of licences and who they go to, said Keldsen. - Interference 'not good' -According to Keldsen, the US leader's ambitions in the Arctic region have also led to a tourism boom. He sees the US as a key partner for Nuuk, which is seeking to attract more American investors."The interference in domestic politics is not good," the business leader said."But the good things coming out of this is there is a dialogue with Denmark to a much better degree," as well as with the EU, Canada, and the US itself.While some businesses see an opportunity to strengthen US ties, others are "second-guessing" their decisions to work with American customers or investors as they are "afraid of what would that do to their reputation".The fraught context has resulted in closer dialogue between Nuuk and Copenhagen, particularly on defence, and has stimulated European business interest.European Commission chief Ursula von der Leyen is expected in Greenland to discuss new strategic investments in March.by Florent Vergnes

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Why Banking Cannot Go Fully Digital In India Yet
businesstoday38d ago

Why Banking Cannot Go Fully Digital In India Yet

As India targets a 30 trillion dollar economy under the Viksit Bharat 2047 vision, the banking sector faces a critical challenge — how to scale loan growth nearly tenfold without triggering a surge in bad loans. Speaking at the BT Banking Summit, Nidhu Saxena, MD and CEO of Bank of Maharashtra, emphasises that this growth must be sustainable, compliant and risk-aware. She highlights that banks must carefully balance expansion with strong regulatory discipline, while also preparing for emerging risks, including those linked to rapid digital adoption.Saxena points out that banks alone cannot fund India’s ambitious growth journey. A broader financial ecosystem, including development finance institutions and innovative financing models, will be essential, particularly for long-gestation infrastructure projects. She also reflects on the digital transformation of banking post-COVID, noting that while technology has improved efficiency and reduced customer acquisition costs, physical branches continue to play a crucial role, especially in rural and semi-urban India. The discussion underlines that India’s path to becoming a developed economy will depend not just on faster credit growth, but on building a resilient and well-balanced financial system.

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Head to Head Survey: Nextdoor (NXDR) and The Competition
defenseworld38d ago

Head to Head Survey: Nextdoor (NXDR) and The Competition

Nextdoor (NYSE:NXDR – Get Free Report) is one of 48 public companies in the “Services – Computer Programming And Data Processing” industry, but how does it compare to its competitors? We will compare Nextdoor to similar companies based on the strength of its earnings, profitability, analyst recommendations, dividends, risk, institutional ownership and valuation. Profitability This [...]

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Fortis (NYSE:FTS) Stock Rating Upgraded by Wall Street Zen
themarketsdaily38d ago

Fortis (NYSE:FTS) Stock Rating Upgraded by Wall Street Zen

Fortis (NYSE:FTS – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday. Several other analysts have also issued reports on the company. TD Securities reissued a “buy” rating on shares of Fortis in a report on Tuesday, February [...]

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Head-To-Head Analysis: Medical Properties Trust (MPT) and Its Competitors
defenseworld38d ago

Head-To-Head Analysis: Medical Properties Trust (MPT) and Its Competitors

Medical Properties Trust (NYSE:MPT – Get Free Report) is one of 90 publicly-traded companies in the “Real Estate Investment Trusts” industry, but how does it weigh in compared to its competitors? We will compare Medical Properties Trust to similar businesses based on the strength of its risk, earnings, analyst recommendations, dividends, valuation, profitability and institutional [...]

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Token Cat (NASDAQ:TC) and D-MARKET Electronic Services & Trading (NASDAQ:HEPS) Head to Head Review
defenseworld38d ago

Token Cat (NASDAQ:TC) and D-MARKET Electronic Services & Trading (NASDAQ:HEPS) Head to Head Review

D-MARKET Electronic Services & Trading (NASDAQ:HEPS – Get Free Report) and Token Cat (NASDAQ:TC – Get Free Report) are both small-cap retail/wholesale companies, but which is the better investment? We will compare the two businesses based on the strength of their dividends, risk, analyst recommendations, institutional ownership, profitability, valuation and earnings. Valuation & Earnings This [...]

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