BUSINESS

Iraq and British oil giant BP are set to finalise a deal by early February to develop four oil fields in Kirkuk and curb gas flaring, Iraqi authorities announced Wednesday.

Beijing on Wednesday said it "firmly opposes" a US move to effectively bar Chinese technology from smart cars in the American market, saying alleged risks to national security were "without any factual basis".

Britain's annual inflation rate unexpectedly fell to 2.5 percent last month, official data showed Wednesday, easing some pressure on the Labour government faced with economic unrest.

As Donald Trump's looming return to the White House promises to boost cryptocurrencies, a German stock exchange is on a mission to anchor them firmly in the staid world of traditional finance.

Asian and European markets sank Monday after an outsized US jobs report dealt another blow to hopes for more interest rate cuts, while oil extended a rally sparked by new sanctions on Russia's energy sector.

The Ruwais LNG plant will be one of the world's lowest-carbon-intensity LNG facilities, using artificial intelligence and advanced digital technologies to enhance safety, reduce emissions and improve efficiency.

Sales of electric and hybrid vehicles jumped more than 40 percent in China last year, as demand for new energy models continues to surge and the sector remains entrenched in a gruelling price war.

A top Waymo executive said Wednesday the United States could lead globally on autonomous driving, expressing hope that a national standard under the incoming Trump administration would boost safety.

Chinese companies have turned out in force again at this year's Consumer Electronics Show, with their prospects overshadowed by the threat of steeper tariffs from incoming US president Donald Trump.

South Korea's Samsung Electronics said Wednesday it expected fourth-quarter profits to fall sharply from the previous quarter and miss forecasts as it struggled to meet robust demand for chips used in artificial intelligence servers.

Social media giant Meta announced Monday the appointment of three new directors to its board, including Ultimate Fighting Championship (UFC) head Dana White, a close ally to US President-elect Donald Trump.

ADRA will also coordinate with relevant entities to simplify licensing processes and ensure full compliance with laws, including those related to anti-money laundering (AML), preventing the financing of suspicious activities and addressing illegal organizations.

Japan's prime minister on Monday urged Washington to dispel concerns that a decision by Joe Biden to block Nippon Steel's takeover of US Steel could impact future investments.

Tesla reported a dip in full-year auto sales Thursday, missing a company forecast in a sign of rising electric vehicle competition in China and other markets.

Asian markets gained on Friday, bucking retreats on Wall Street as the dollar advanced and markets reopened following the New Year's holiday.

Leading Chinese electric car maker BYD's vehicle sales surged in 2024, the company said in a statement, as the firm grows its overseas presence.

Asian stocks began 2025 mostly in the red on Thursday after worries about US interest rates, tariffs and China's economy gave Wall Street the holiday blues for a fourth straight session.

Asian stocks ended the year mainly in the red on Tuesday after worries about 2025 and profit-taking turned Wall Street's usual holiday period "Santa Claus rally" into a mini-rout.

European and Asia stock markets mostly fell Monday in jittery holiday trade ahead of a potentially tumultuous 2025 when Donald Trump returns to the White House.

The growing popularity of Chinese sport utility vehicles and pickup trucks has shaken up Mexico's luxury car market, hitting sales of traditionally dominant brands such as Mercedes-Benz and BMW. According to industry experts, Mexicans are increasingly switching from traditionally dominant sedans to Chinese vehicles due to a combination of comfort, technology and price.

Asian stocks rose in thin Boxing Day trade on Thursday, extending a "Santa Rally" with key markets Hong Kong and Sydney still shut for the holidays.

Global stocks were mostly higher on Tuesday boosted by a tech rally on Wall Street, but gains remained modest in thin Christmas Eve trade.

A US government panel failed to reach a consensus on whether US Steel's acquisition by Nippon Steel threatens Washington's national security, shifting the decision to the White House, the Japanese company said late Monday.

The United States said Monday it is opening an investigation into China's policies for its semiconductor industry, over concerns that Beijing is turning to "extensive anticompetitive and non-market means" to undermine other economies.

Japanese auto giant Honda and its struggling rival Nissan agreed Monday to launch talks on a merger seen as a bid to catch up with Chinese rivals and Tesla on electric vehicles.

Thousands of Amazon workers on Thursday launched what they called the "largest strike against Amazon in US history" seeking to maximize pressure on the retail behemoth at the height of the holiday shopping season.

Switzerland's financial regulator was ineffective in tackling the scandals at Credit Suisse, where executive mismanagement scuppered the bank and nearly triggered a global financial crisis, a Swiss inquiry concluded Friday.

Workers at Starbucks will walk off the job Friday in three US cities in a strike their union threatened could spread around the country in the busy run-up to Christmas.

European stock markets slid for a second session running Friday and the dollar dropped as investors grow concerned about the economic outlook for next year.