Economy
New mega-refinery helps Kuwait to record capacity: minister
Kuwait said Wednesday its refining capacity had reached a record 1.8 million barrels per day as it inaugurated one of the region's biggest refineries which started operating at full capacity in recent months. It was officially inaugurated on Wednesday, months after its output reached full capacity of 615,000 bpd.
Why UK major firms are facing takeover attempts?
Mining giant Anglo American, cyber security firm Darktrace and Royal Mail parent IDS -- three major UK companies in the midst of big takeover bids. However, US private equity firm Thoma Bravo has struck a deal to buy cyber security company Darktrace for $5.3 billion in cash.
Royal Mail owner accepts Czech billionaire's takeover
The owner of Britain's struggling Royal Mail said Wednesday it had accepted a takeover proposal from Czech billionaire Daniel Kretinsky worth £3.6 billion ($4.6 billion).
BHP asks for more time to explore Anglo American takeover
Mining behemoth BHP on Wednesday sought a deadline extension in its takeover pursuit of Anglo American, outlining a suite of measures to soothe shareholder concerns that have derailed previous offers. With a May 29 deadline looming, BHP -- which is listed in London and Sydney -- on Wednesday made a last-ditch attempt to mollify these concerns and keep its bid alive.
Asian markets retreat on US rate concerns, oil rallies after attack
Most equities fell Wednesday on lingering worries about the outlook for US interest rates, while oil prices extended their rally after an attack on a ship in the Red Sea stoked fresh worries about supplies from the Middle East. Oil prices rose again on geopolitical concerns after a bulk carrier was attacked in the Red Sea, a key waterway for shipping and particularly crude.
'Two Mexicos' prepare to vote amid economic divide
One runs an aerospace parts maker, the other works in a restaurant near a major new oil refinery -- both women will vote in Mexican elections this weekend, but they could be from different countries. When the refinery was under construction, the restaurant where she works benefited from the arrival of hundreds of construction workers.
IMF lifts China's 2024 growth forecast to 5%
The International Monetary Fund on Wednesday raised its 2024 growth forecast for China to five percent, citing recent policy moves by Beijing to boost its struggling economy. The IMF on Wednesday welcomed official steps in recent weeks to boost the housing market.
Exxon plays hardball against climate NGOs. Will investors care?
ExxonMobil investors will have a chance to weigh in at Wednesday's annual meeting on the company's hardball approach to the latest shareholder challenge from environmentalists over climate change. ExxonMobil argued that the proposal was the same as one rejected by nearly 90 percent of company shareholders at the 2023 meeting.
US allows Cuban entrepreneurs conditional banking access
Private sector entrepreneurs in Cuba will be able to establish US bank accounts which they can remotely access, US officials said Tuesday, in announcing an update to the country's Cuba policy.
Economy
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