AFP Asia Business

A mining mogul engaged in a years-long dispute with the Australian government over a blocked project had his case thrown out by an international tribunal on Saturday, the attorney general said.Flamboyant billionaire and right-wing politician Clive Palmer had sought to challenge legislation in Western Australia, which prevented him from suing the government over losses related …

Australian magnate loses legal bid to fight govt over mining case Read More »

Stocks climbed Friday as investors digested a new tariffs blitz by US President Donald Trump and data showing a key US inflation metric rose in line with expectations.Wall Street pushed higher after slumping for three straight sessions, with relief about inflation data offsetting the tariff developments and rising concerns about a US government shutdown due …

Stocks rise as traders weigh US inflation, Trump tariffs Read More »

President Donald Trump insists he has found a solution to keep TikTok alive in the United States through a group of investors who will buy the short-video app from its Chinese owners in accordance with US law.But questions remain unresolved about how this will play out and what it means for American users.- Is there …

More questions than answers surround Trump’s TikTok deal Read More »

Moored off a Manhattan pier for New York’s annual Climate Week is one of the world’s first ammonia-powered vessels — a green flagship for an Australian tycoon’s drive to decarbonize his mining empire.Even as President Donald Trump’s second term has triggered environmental backtracking among many corporations, iron ore giant Fortescue — founded by Andrew “Twiggy” …

An Aussie tycoon bets billions on cleaning up iron ore giant Read More »

The United Nations on Friday released a long-awaited update of its database of companies with activities in Israeli settlements in Palestinian territories, listing 158 firms from 11 countries.UN rights chief Volker Turk has condemned as a war crime Israel’s policy of settlements on Palestinian territory in the occupied West Bank.While several companies including Alstom and …

UN identifies 158 firms linked to Israeli settlements Read More »

Donald Trump has shocked the global drug industry by announcing 100-percent tariffs on all branded, imported pharmaceutical products — unless companies are building manufacturing plants in the United States.With just five days left until the US president is set to impose the harshest measures yet in his global trade war, analysts have been racing to …

The nations and firms threatened by Trump’s pharma tariffs Read More »

US President Donald Trump’s announcement of steep new tariffs on medicines and other goods drew pushback from some allies on Friday, with the EU claiming immunity for its pharmaceutical industry under an earlier trade deal.The announcement late on Thursday evening, which included a 100 percent levy on pharmaceuticals, is the harshest trade policy by the …

Trump announces steep new tariffs, EU claims pharmaceutical immunity Read More »

Canada has signed a bilateral free trade agreement with Indonesia, which aims to eliminate or reduce tariffs on over 95 percent of Ottawa’s exports to its largest market in Southeast Asia.Several experts told AFP the strategic agreement is being made in the context of global economic turmoil, exacerbated by the protectionist policies of the United …

Canada signs free trade agreement with Indonesia Read More »

Stencilled just above the stairs, the red mark in Mumbai’s Dharavi slum is tantamount to an eviction notice for residents like Bipinkumar Padaya.”I was born here, my father was born here, my grandfather was born here,” sighed the 58-year-old government employee.”But we don’t have any choice, we have to vacate.”Soon, bulldozers are expected to rumble …

In India’s Mumbai, the largest slum in Asia is for sale Read More »

The Trump administration is in talks to take an equity stake in Lithium Americas, which would insert the government into another private enterprise in the latest challenge to American free-market traditions.The move comes on the heels of Trump announcements establishing government holdings in struggling semiconductor giant Intel and the rare earth company MP Materials. Trump …

Heavy hand: Free-market US tested as Trump takes stakes in private companies Read More »