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Chinese-born tycoon Chen Zhi, who was indicted by the United States on fraud and money-laundering charges for running a multibillion-dollar cyberscam network from Cambodia, has been arrested there and extradited to China, Phnom Penh said Wednesday.Chen allegedly directed operations of forced labour compounds across Cambodia, where trafficked workers were held in prison-like facilities surrounded by high walls and barbed wire, according to US prosecutors.Since the US indictment and sanctions by Washington and London in October, authorities in Europe, the United States and Asia have targeted Chen’s firm, Prince Holding Group, with a frenzy of asset confiscations.Chen founded Prince Group, a multinational conglomerate that authorities say served as a front for “one of Asia’s largest transnational criminal organizations,” according to the US Justice Department.Cambodian authorities “have arrested three Chinese nationals namely Chen Zhi, Xu Ji Liang, and Shao Ji Hui and extradited (them) to the People’s Republic of China,” Cambodia’s interior ministry said in a statement on Wednesday.The operation was carried out on Tuesday “within the scope of cooperation in combating transnational crime” and according to a request from Chinese authorities “following several months of joint investigative cooperation,” it said.Chen’s Cambodian nationality was “revoked by a Royal Decree” in December, the interior ministry added.Chinese authorities did not immediately comment late Wednesday on Chen’s arrest and extradition.US authorities in October unsealed an indictment against Chen, a businessman accused of presiding over compounds in Cambodia where trafficked workers carried out cryptocurrency fraud schemes that have netted billions of dollars.He faces up to 40 years in prison if convicted in the United States on wire fraud and money laundering conspiracy charges involving approximately 127,271 bitcoin seized by Washington, worth more than $11 billion at current prices.Prince Group has denied the allegations.According to the US charges, scam workers were forced — under threat of violence — to execute so-called “pig butchering” scams, cryptocurrency investment schemes that build trust with victims over time before stealing their funds.The schemes target victims worldwide, causing billions in losses.Scam centers across Cambodia, Myanmar and the region use fake job ads to attract foreign nationals — many of them Chinese — to purpose-built compounds, where they are forced to carry out online fraud.Since around 2015, Prince Group has operated across more than 30 countries under the guise of legitimate real estate, financial services and consumer businesses, US prosecutors said.Chen and top executives allegedly used political influence and bribed officials in multiple countries to protect their illicit operations. In Cambodia, Chen has served as an adviser to Prime Minister Hun Manet and his father, former leader Hun Sen.The Southeast Asian nation hosts dozens of scam centres with tens of thousands of people perpetrating online scams — some willingly and others trafficked — in the multibillion-dollar industry, experts say.

Oil prices fell further Wednesday after President Donald Trump said Venezuela would turn over millions of barrels to the United States.Meanwhile equities wobbled after a record-breaking start to the year.Crude has seen wild swings since Trump ordered the toppling of Nicolas Maduro, his counterpart in Caracas, on Saturday and said Washington would run the country while demanding “total access” to its oil.Both main oil contracts dropped on Wednesday, having already lost ground Tuesday, after Trump announced the latest development.”The Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” he wrote on his Truth Social platform.”This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.”US Energy Secretary Chris Wright said Wednesday that Washington will control sales of Venezuelan oil “indefinitely”.Analysts said the shipments lowered the risk that Caracas would have to cut output owing to its limited storage capacity, easing supply concerns.But they added that the outlook for the commodity pointed to lower prices, as the market remains well stocked after OPEC+ agreed to boost output.Venezuela sits on about a fifth of the world’s oil reserves, but observers pointed out that a quick ramp-up of output would be hamstrung by several issues including its creaking infrastructure, low prices and political uncertainty.Crude prices only briefly picked up after US forces seized a Russian-flagged oil tanker in the North Atlantic for alleged sanctions violations, before sinking again.US forces said they also seized another tanker in the Caribbean.In equities trading, the Dow initially edged higher from a record closes on Tuesday, but then turned lower.”US job openings falling to their lowest level since December 2020 and modest — below expectations — US private sector jobs growth dampened the bullish mood,” said IG trading platform analyst Axel Rudolph.The broader S&P 500 managed to edge higher from its record close Tuesday and set another all-time high, while the tech-heavy Nasdaq rose.In Europe, Frankfurt hit a record high above 25,000 points.Paris traded flat and London slid from a record high set on Tuesday as lower oil prices dragged on British heavyweights BP and Shell, which both fell more than three percent. Equity markets have had a strong start to the year thanks to the relentless rush into all things artificial intelligence.Shares in Warner Bros. Discovery edged higher after its board urged shareholders to reject an improved hostile takeover bid by rival Paramount, saying it was still inferior to Netflix’s offer.Shares in both Netflix and Paramount shares dipped lower.- Key figures at around 1630 GMT – West Texas Intermediate: DOWN 1.3 percent at $56.40 per barrelBrent North Sea Crude: DOWN 0.7 percent at $60.25 per barrelNew York – Dow: DOWN 0.3 percent at 49,305.05 pointsNew York – S&P 500: UP less than 0.1 percent at 6,949.00New York – Nasdaq Composite: UP 0.4 percent at 23,643.75 London – FTSE 100: DOWN 0.7 percent at 10,048.21 (close)Paris – CAC 40: FLAT at 8,233.92 (close)Frankfurt – DAX: UP 0.9 percent at 25,122.26 (close)Tokyo – Nikkei 225: DOWN 1.1 percent at 51,961.98 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 26,458.95 (close)Shanghai – Composite: UP 0.1 percent at 4,085.77 (close)Euro/dollar: DOWN at $1.1688 from $1.1693 on TuesdayPound/dollar: DOWN at $1.3474 from $1.3503 Dollar/yen: UP at 156.74 yen from 156.59 yenEuro/pound: UP at 86.73 pence from 86.58 penceburs-rl/jh

Oil prices wavered Wednesday after President Donald Trump said Venezuela would turn over millions of barrels to the United States and seized a Russian-flagged oil tanker.Meanwhile equities continued a record-breaking start to the year.Crude has seen wild swings since Trump ordered the toppling of Nicolas Maduro, his counterpart in Caracas, on Saturday and said Washington would run the country while demanding “total access” to its oil.Both main oil contracts dropped on Wednesday, having already lost ground Tuesday, after Trump announced the latest development.”The Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” he wrote on his Truth Social platform.”This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.”Analysts said the shipments lowered the risk that Caracas would have to cut output owing to its limited storage capacity, easing supply concerns.But they added that the outlook for the commodity pointed to lower prices, as the market remains well stocked after OPEC+ agreed to boost output.Venezuela sits on about a fifth of the world’s oil reserves, but observers pointed out that a quick ramp-up of output would be hamstrung by several issues including its creaking infrastructure, low prices and political uncertainty.But crude prices briefly picked up as US forces seized a Russian-flagged oil tanker in the North Atlantic for alleged sanctions violations, raising supply concerns.US forces said they also seized another tanker in the Caribbean.In equities trading, the Dow and S&P 500 edged higher from record closes on Tuesday as trading got underway on Wall Street.”The bull market carries on in spite of the geopolitical drama and notwithstanding a possible Supreme Court ruling this Friday on President Trump’s tariff authority,” said Briefing.com analyst Patrick O’Hare.”In short, there is a lot of sound and fury in the background, but in the foreground is a stock market that has kept calm and carried on,” he added.In Europe, Frankfurt hit a record high above 25,000 points.Paris traded flat and London slid from a record high set on Tuesday as lower oil prices dragged on British heavyweights BP and Shell, which were both down more than three percent. Equity markets have had a strong start to the year thanks to the relentless rush into all things artificial intelligence.Shares in Netflix rose more than one percent as trading got underway in New York after the board of Warner Bros. Discovery urged shareholders to reject an improved hostile takeover bid by rival Paramount, saying it was still inferior to Netflix’s offer.Shares in Warner Bros. dipped while Paramount shares wobbled.- Key figures at around 1430 GMT – West Texas Intermediate: DOWN 0.8 percent at $56.70 per barrelBrent North Sea Crude: DOWN 0.3 percent at $60.51 per barrelNew York – Dow: UP 0.2 percent at 49,573.77 pointsNew York – S&P 500: UP less than 0.1 percent at 6,949.46New York – Nasdaq Composite: FLAT percent at 23,547.02 London – FTSE 100: DOWN 0.8 percent at 10,045.35Paris – CAC 40: FLAT at 8,236.88Frankfurt – DAX: UP 0.8 percent at 25,100.52Tokyo – Nikkei 225: DOWN 1.1 percent at 51,961.98 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 26,458.95 (close)Shanghai – Composite: UP 0.1 percent at 4,085.77 (close)Euro/dollar: DOWN at $1.1691 from $1.1693 on TuesdayPound/dollar: DOWN at $1.3488 from $1.3503 Dollar/yen: DOWN at 156.51 yen from 156.59 yenEuro/pound: UP at 86.68 pence from 86.58 penceburs-rl/js

Oil prices extended losses Wednesday after President Donald Trump said Venezuela would turn over millions of barrels to the United States, while equities wavered after a record-breaking start to the year.Frankfurt was a rare riser, hitting a record high above 25,000 points, while London fell and Paris was flat. Lower oil prices dragged on British heavyweights BP and Shell, which were both down more than three percent. Crude has seen wild swings since Trump ordered the toppling of Nicolas Maduro, his counterpart in Caracas on Saturday and said Washington would run the country while demanding “total access” to its oil.But both main oil contracts dropped on Wednesday, having already lost ground Tuesday, after Trump announced the latest development.”The Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” he wrote on his Truth Social platform.”This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.”Analysts said the shipments lowered the risk that Caracas would have to cut output owing to its limited storage capacity, easing supply concernsBut they added that the outlook for the commodity pointed to lower prices, as the market remains well stocked after OPEC+ agreed to boost output.Venezuela sits on about a fifth of the world’s oil reserves, but observers pointed out that a quick ramp-up of output would be hamstrung by several issues including its creaking infrastructure, low prices and political uncertainty.”Today’s move lower is a sign that the oil price continues to be sensitive to any shift in supply dynamics,” said Kathleen Brooks, research director at the trading group XTB. Equity markets fluctuated after a strong start to the year that has already seen Seoul follow London and New York in hitting record highs thanks to the relentless rush into all things artificial intelligence.Shanghai also edged up, while Hong Kong closed lower and Tokyo shed more than one percent after China imposed tougher export controls on products sent to Japan with potential military uses.Still, despite rising geopolitical tensions, analysts remain upbeat about the outlook for equities this year.”Participants remained squarely focused on what remains a robust bull case of resilient economic growth and robust earnings growth, largely in keeping with that which powered the market higher last year,” wrote Michael Brown, senior research strategist at Pepperstone.He pointed to “expectations for considerably looser monetary and fiscal backdrops through the next twelve months”.- Key figures at around 1100 GMT – West Texas Intermediate: DOWN 0.7 percent at $56.73 per barrelBrent North Sea Crude: DOWN 0.4 percent at $60.47 per barrelLondon – FTSE 100: DOWN 0.6 percent at 10,058.55 pointsParis – CAC 40: FLAT at 8,240.23Frankfurt – DAX: UP 0.7 percent at 25,057.40Tokyo – Nikkei 225: DOWN 1.1 percent at 51,961.98 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 26,458.95 (close)Shanghai – Composite: UP 0.1 percent at 4,085.77 (close)New York – Dow: UP 1.0 percent at 49,462.08 (close)Euro/dollar: DOWN at $1.1691 from $1.1693 on TuesdayPound/dollar: DOWN at $1.3501 from $1.3503 Dollar/yen: DOWN at 156.49 yen from 156.59 yenEuro/pound: UP at 86.60 pence from 86.58 pence

President Prabowo Subianto said on Wednesday that Indonesia’s rice production met all domestic demand, hailing a landmark achievement for food security — one of his key campaign promises.In a speech to farmers in Karawang, east of the capital Jakarta, Prabowo celebrated an “important victory” in achieving rice self-sufficiency within just over a year since he entered office in October 2024.”No nation is truly free if food is not available to its people. A nation cannot be independent if its food supply depends on other countries,” he said.Indonesia last achieved rice self-sufficiency in 2008, and before that in the mid-1980s.Rice is a staple food in the Southeast Asian nation of 286 million people.According to the National Food Agency, a government body aimed at advancing food security, Indonesia produced 34.71 million tonnes of rice in 2025, exceeding annual consumption needs of 31.19 million tonnes.”Today is a happy day for me,” said Prabowo, who at the start of his administration set a four-year target for rice self-sufficiency.It was achieved years ahead of schedule, with the government citing increased subsidies for farmers and streamlined regulations.”If many critics sneer and say we can’t achieve food self-sufficiency, today we prove that we are food self-sufficient,” Prabowo said.According to Statistics Indonesia, Southeast Asia’s largest economy used to import rice from major exporters Vietnam, Thailand and India.But according to the government, Indonesia did not import any rice at all in 2025.On the campaign trail, Prabowo put food security and agricultural self-sufficiency at the forefront.After assuming the presidency he launched a free meal initiative aimed at tackling child malnutrition, which he said provided nutritious food to 55 million people.But critics have argued that Prabowo’s flagship programme took away financial resources from other important initiatives, and pointed to more than 10,000 cases of food poisoning linked to the free meal scheme.

Oil extended losses Wednesday after Donald Trump said Venezuela would turn over millions of barrels to the United States, while equities were mixed after a record-breaking start to the year.Crude has seen wild swings since the US president ordered the toppling Saturday of Nicolas Maduro, his counterpart in Caracas, and said Washington would run the country while demanding “total access” to its key resource.But both main contracts sank more than one percent Wednesday — having lost 1.7-2.0 percent Tuesday — after Trump announced the latest development.”The Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” he wrote on his Truth Social platform.”This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.”Analysts said the shipments lowered the risk that Caracas would have to cut output owing to its limited storage capacity, easing supply concerns, but added that the outlook for the commodity was lower prices.That comes as the crude market remains well stocked after OPEC+ agreed to boost output.Venezuela sits on about a fifth of the world’s oil reserves, but observers pointed out that a quick ramp-up of output would be hamstrung by several issues including its creaking infrastructure, low prices and political uncertainty.Equity markets fluctuated after a strong start to the year that has already seen Seoul following London and New York in hitting record highs thanks to the relentless rush into all things artificial intelligence.South Korea’s Kospi index continued its run-up Wednesday, while Shanghai, Sydney, Wellington, Bangkok, Manila and Jakarta also rose.However, Hong Kong sank with Singapore, Taipei and Mumbai. Tokyo shed more than one percent after China imposed tougher export controls on products sent to Japan with potential military uses.Frankfurt hit a record high above 25,000 points at the open.London was down and Paris rose.Still, despite rising geopolitical tensions, analysts remain upbeat about the outlook for equities this year.”Participants remained squarely focused on what remains a robust bull case of resilient economic growth and robust earnings growth, largely in keeping with that which powered the market higher last year,” wrote Michael Brown at Pepperstone.He pointed to “expectations for considerably looser monetary and fiscal backdrops through the next twelve months”.”My view remains that the ‘path of least resistance’ continues to lead to the upside, and that any dips — were they to occur — continue to represent buying opportunities.”- Key figures at around 0815 GMT – West Texas Intermediate: DOWN 1.4 percent at $56.31 per barrelBrent North Sea Crude: DOWN 1.1 percent at $60.06 per barrelTokyo – Nikkei 225: DOWN 1.1 percent at 51,961.98 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 26,458.95 (close)Shanghai – Composite: UP 0.1 percent at 4,085.77 (close)London – FTSE 100: DOWN 1.2 percent at 10,107.51 Euro/dollar: DOWN at $1.1680 from $1.1693 on TuesdayPound/dollar: DOWN at $1.3489 from $1.3503 Dollar/yen: DOWN at 156.46 yen from 156.59 yenEuro/pound: DOWN at 86.57 pence from 86.58 penceNew York – Dow: UP 1.0 percent at 49,462.08 (close)

Lenovo, the world’s top PC maker, unveiled its own AI assistant Tuesday at the CES tech show in Las Vegas, promising a tool that follows users seamlessly across laptops, smartphones and connected devices.The Beijing-based company commanded 28 percent of global PC market share in the third quarter of 2025, ahead of rivals HP at 21.5 percent and Dell at 14.5 percent, according to US research firm Gartner.Lenovo’s new artificial intelligence agent, dubbed Qira, is designed as an autonomous interface capable of performing tasks rather than simply generating content on demand, a move Lenovo hopes will showcase the breadth of its product portfolio.Unlike rivals focused on single categories, Lenovo was the only major manufacturer whose offering spanned laptops, tablets and smartphones — under its Motorola brand, acquired in 2014 — as well as servers and even supercomputers.The company also unveiled prototypes of connected glasses and an AI-powered pendant, still in testing, that captures “important moments” with user consent by recording conversations, said Motorola’s Angelina Gomez.Codenamed the AI Perceptive Companion, the pendant features a microphone and camera and “sees what you see and hears what your hear,” Lenovo vice president Luca Rossi told reporters.An interaction with Qira can start via the pendant, continue on a smartphone and end on a laptop, with the agent retaining user context across devices.It can summarize the highlights of a user’s day, draft and send emails, or even select photos from archives to post on social media.Lenovo stressed it is not positioning Qira as a rival to Microsoft’s Copilot and announced the integration of Copilot into Motorola smartphones.For major hardware makers, the challenge now is proving the utility of generative AI in everyday applications rather than simply flaunting cutting-edge tech.Amid lingering geopolitical tensions with Washington, Lenovo was the only Chinese firm to take center stage at CES, choosing Las Vegas’s futuristic Sphere venue for its showcase. Executives emphasized the company’s global footprint, with most revenue generated outside China and several top managers from overseas.

Oil extended losses Wednesday after Donald Trump said Venezuela would turn over millions of barrels to the United States, while equities wobbled after a record-breaking start to the year.Crude has seen wild swings since the US president ordered the toppling Saturday of Nicolas Maduro, his counterpart in Caracas, and said Washington would run the country while demanding “total access” to its key resource.But it sank as much as two percent Tuesday and around one percent Wednesday after Trump announced the latest development.”The Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” he wrote on his Truth Social platform.”This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.”Analysts said the shipments lowered the risk that Caracas would have to cut output owing to its limited storage capacity, easing supply concerns, but added that the outlook for the commodity was lower prices.That comes as the crude market remains well stocked after OPEC+ agreed to boost output.Venezuela sits on about a fifth of the world’s oil reserves, but observers pointed out that a quick ramp-up of output would be hamstrung by several issues including its creaking infrastructure, low prices and political uncertainty.Equity markets fluctuated after a strong start to the year that has already seen Seoul following London and New York in hitting record highs thanks to the relentless rush into all things artificial intelligence.South Korea’s Kospi index continued its run-up Wednesday, while Sydney, Singapore, Shanghai, Wellington and Jakarta also rose.However, Hong Kong dipped along with Taipei and Manila, while Tokyo slid after China imposed tougher export controls on products sent to Japan with potential military uses.Still, despite rising geopolitical tensions, analysts remain upbeat about the outlook for equities this year.”Participants remained squarely focused on what remains a robust bull case of resilient economic growth and robust earnings growth, largely in keeping with that which powered the market higher last year,” wrote Michael Brown at Pepperstone.He pointed to “expectations for considerably looser monetary and fiscal backdrops through the next twelve months”.”My view remains that the ‘path of least resistance’ continues to lead to the upside, and that any dips — were they to occur — continue to represent buying opportunities.”- Key figures at around 0230 GMT – West Texas Intermediate: DOWN 1.2 percent at $56.47 per barrelBrent North Sea Crude: DOWN 1.0 percent at $60.10 per barrelTokyo – Nikkei 225: DOWN 0.5 percent at 52,257.11 (break)Hong Kong – Hang Seng Index: DOWN 1.0 percent at 26,431.70Shanghai – Composite: UP 0.1 percent at 4,088.40Euro/dollar: UP at $1.1700 from $1.1693 on TuesdayPound/dollar: UP at $1.3511 from $1.3503 Dollar/yen: UP at 156.68 yen from 156.59 yenEuro/pound: UP at 86.60 pence from 86.58 penceNew York – Dow: UP 1.0 percent at 49,462.08 (close)London – FTSE 100: UP 1.2 percent at 10,122.73 (close)

Global stock markets advanced on Tuesday to fresh record highs while oil prices eased as investors tracked developments surrounding crude-rich Venezuela as well as the outlook for the global economy.Brushing off geopolitical concerns triggered by the surprise US raid Saturday on Caracas that saw Venezuelan president Nicolas Maduro and his wife taken to New York, some major stock markets have begun the new year with all-time highs, having already smashed records in 2025.Wall Street extended an upbeat start to the 2026 campaign, with both the Dow and S&P 500 ending at all-time records.”It’s just an upward bias to start the year here as people are putting money to work in areas that might have been left behind last year,” said Briefing.com analyst Patrick O’Hare. “People are broadening out their buying efforts.”Seoul rose more than one percent to top 4,500 points for the first time, helped by another strong rally in chip giant SK hynix.London’s benchmark FTSE 100 index reached a new high Tuesday above 10,000 points, with investors expecting more cuts to British interest rates to bolster growth in 2026.”Global equities are likely to keep looking through the geopolitical shock unless it threatens the broader supply chain or tightens financial conditions, because geopolitics has become a persistent feature rather than a surprise,” said Charu Chanana, chief investment strategist at Saxo Markets.”Equities can continue grinding higher if earnings expectations, liquidity, and rate expectations remain supportive, especially in tech,” she added.A presentation by Nvidia at the Consumer Electronics Show in Las Vegas lent new buzz to the artificial intelligence industry, while an announcement that Microchip Technology lifted its sales outlook spurred major gains by semiconductor stocks.Traders are awaiting key US jobs data due Friday for clues on the outlook for interest rates.The Federal Reserve is expected to keep cutting American borrowing costs this year, but how many times remains unclear.But oil prices pulled lower as markets continued to digest the upheaval in Venezuela since Saturday’s US raid.While Venezuela sits on about a fifth of the world’s oil reserves, observers pointed out that a quick ramp-up of output would be hamstrung by several issues including its creaking infrastructure, low prices and political uncertainty.”With the country pumping less than one percent of the world’s oil after years of underinvestment, any major near-term disruption looks more bark than bite,” Matt Britzman, senior equity analyst at Hargreaves Lansdown, said Tuesday.Chevron, the sole US company still operating in Venezuela, dropped 4.5 percent, reversing Monday’s surge in the stock.- Key figures at around 2130 GMT – Brent North Sea Crude: DOWN 1.7 percent at $60.70 per barrelWest Texas Intermediate: DOWN 2.0 percent at $57.13 per barrelNew York – Dow: UP 1.0 percent at 49,462.08 (close)New York – S&P 500: UP 0.6 percent at 6,944.82 (close)New York – Nasdaq Composite: UP 0.7 percent at 23,547.17 (close)London – FTSE 100: UP 1.2 percent at 10,122.73 (close)Paris – CAC 40: UP 0.3 percent at 8,237.43 (close)Frankfurt – DAX: UP 0.1 percent at 24,892.20 (close)Tokyo – Nikkei 225: UP 1.3 percent at 52,518.08 (close)Hong Kong – Hang Seng Index: UP 1.4 percent at 26,710.45 (close)Shanghai – Composite: UP 1.5 percent at 4,083.67 (close)Euro/dollar: DOWN at $1.1693 from $1.1722 on MondayPound/dollar: DOWN at $1.3503 from $1.3542 Dollar/yen: UP at 156.59 yen from 156.38 yenEuro/pound: UP at 86.58 pence from 86.56 penceburs-jmb/iv

Oil prices climbed and stock markets hit new heights Tuesday as investors tracked developments surrounding crude-rich Venezuela as well as the outlook for the global economy.The United Nations voiced deep concern over the dramatic US operation in Venezuela, warning that it clearly “undermined a fundamental principle of international law”.”States must not threaten or use force against the territorial integrity or political independence of any state,” Ravina Shamdasani, spokeswoman for the UN rights office, told reporters in Geneva.Oil prices have experienced choppy trading since the surprise US raid Saturday on Caracas that saw Venezuelan president Nicolas Maduro and his wife taken to New York.They pleaded not guilty to drug trafficking and other charges at a court hearing on Monday, where a judge ordered them to remain behind bars until the next hearing due March 17.While Venezuela sits on about a fifth of the world’s oil reserves, observers pointed out that a quick ramp-up of output would be hamstrung by several issues including its creaking infrastructure, low prices and political uncertainty.”With the country pumping less than one percent of the world’s oil after years of underinvestment, any major near-term disruption looks more bark than bite,” Matt Britzman, senior equity analyst at Hargreaves Lansdown, said Tuesday.Brushing off geopolitical concerns, some major stock markets have begun the new year with all-time highs, having already smashed records in 2025.Seoul rose more than one percent Tuesday to top 4,500 points for the first time, helped by another strong rally in chip giant SK hynix.That came after the Dow ended at a record high Monday on Wall Street, boosted by a rally of technology titans Amazon and Meta.London’s benchmark FTSE 100 index reached a new high Tuesday above 10,000 points, with investors expecting more cuts to British interest rates to bolster growth in 2026.”Global equities are likely to keep looking through the geopolitical shock unless it threatens the broader supply chain or tightens financial conditions, because geopolitics has become a persistent feature rather than a surprise,” said Charu Chanana, chief investment strategist at Saxo Markets.”Equities can continue grinding higher if earnings expectations, liquidity, and rate expectations remain supportive, especially in tech,” she added.Shares in Nvidia climbed 1.1 percent after the world’s most valuable company unveiled its latest AI platform the previous evening. Wall Street opened mixed, with the Dow dipping from its record close, but quickly stabilising.Traders are awaiting key US jobs data due Friday for clues on the outlook for interest rates.The Federal Reserve is expected to keep cutting American borrowing costs this year, but how many times remains unclear.- Key figures at around 1340 GMT – Brent North Sea Crude: UP 0.7 percent at $62.20 per barrelWest Texas Intermediate: UP 0.7 percent at $58.72 per barrelNew York – Dow: FLAT at 48,966.58 pointsNew York – S&P 500: UP 0.1 percent at 6,910.63New York – Nasdaq Composite: UP 0.2 percent at 23,448.82London – FTSE 100: UP 1.2 percent at 10,121.46 Paris – CAC 40: UP less than 0.1 percent at 8,216.11Frankfurt – DAX: UP 0.3 percent at 24,954.31Tokyo – Nikkei 225: UP 1.3 percent at 52,518.08 (close)Hong Kong – Hang Seng Index: UP 1.4 percent at 26,710.45 (close)Shanghai – Composite: UP 1.5 percent at 4,083.67 (close)Euro/dollar: DOWN at $1.1705 from $1.1714 on MondayPound/dollar: DOWN at $1.3517 from $1.3525 Dollar/yen: UP at 156.43 yen from 156.31 yenEuro/pound: DOWN at 86.56 pence from 86.57 penceburs-rl/js