Malaysian tankers allowed to sail through the Strait of Hormuz won’t be subject to a toll imposed by Iran, according to Transport Minister Anthony Loke . “The Iranian ambassador has mentioned that no toll is being imposed on Malaysian vessels,” Loke said at an event on Tuesday. “We are a friendly party, we have good diplomatic relationship with the Iranian government.” On Saturday, Malaysia’s fore...
Malaysian tankers allowed to sail through the Strait of Hormuz won’t be subject to a toll imposed by Iran, according to Transport Minister Anthony Loke . “The Iranian ambassador has mentioned that no toll is being imposed on Malaysian vessels,” Loke said at an event on Tuesday. “We are a friendly party, we have good diplomatic relationship with the Iranian government.” On Saturday, Malaysia’s foreign affairs minister said Iran has cleared seven Malaysian tankers to traverse the Strait of Hormuz, which has become a flashpoint of the war in the Middle East. The vessels, which are currently stranded in the vital waterway, include those owned by Malaysian energy giant Petroliam Nasional Bhd. , shipping firm MISC Bhd. and Sapura Energy Bhd. Iran has now passed a law introducing a toll and banning US and Israeli vessels from transiting the strait. The bill formalizes a system which multiple shipowners have already been reporting, as tankers are asked — through intermediaries — for detailed cargo and crew lists, and, in some cases, for payment. Malaysia has long had a pragmatic policy toward Iran. Prime Minister Anwar Ibrahim has recognized Tehran’s right to protect its sovereignty while also urging a rapid resolution to the conflict. Anwar, in a televised address on Thursday, thanked Iran’s president for facilitating early passage for the vessels.
Sharon Bell, senior European equity strategist at Goldman Sachs, says the Iran war will continue to have a negative economic impact even if there's a fast resolution. "You'll still see people seeing higher energy costs, etc., and therefore lower confidence and low growth," Bell tells Bloomberg Television. "PMI surveys, for example, have already started to come down. So I think there's already been...
Sharon Bell, senior European equity strategist at Goldman Sachs, says the Iran war will continue to have a negative economic impact even if there's a fast resolution. "You'll still see people seeing higher energy costs, etc., and therefore lower confidence and low growth," Bell tells Bloomberg Television. "PMI surveys, for example, have already started to come down. So I think there's already been damage. It's really a case of how permanent that is or not. (Source: Bloomberg)
2026 is proving to be a big year across the Elon Musk empire. Just a month ago, he merged xAI -- which also owns X (formerly Twitter) -- into SpaceX. Yes, the man likes the letter X. Now, Musk and the SpaceX team are planning the largest initial public offering ( IPO ) in history. SpaceX merged with xAI at a valuation of $1.25 trillion. Here's what that means for the upcoming IPO, and whether inve...
2026 is proving to be a big year across the Elon Musk empire. Just a month ago, he merged xAI -- which also owns X (formerly Twitter) -- into SpaceX. Yes, the man likes the letter X. Now, Musk and the SpaceX team are planning the largest initial public offering ( IPO ) in history. SpaceX merged with xAI at a valuation of $1.25 trillion. Here's what that means for the upcoming IPO, and whether investors should get in on the hype and buy some shares of this spaceflight company. Back in February, SpaceX and xAI surprised the financial world by completing a rapid merger, likely done quickly because both companies are controlled by Elon Musk and others close to him. The merger valued SpaceX at around $1 trillion and xAI at $250 billion, giving them a combined value of $1.25 trillion. Continue reading
Japanese companies including Mitsubishi Corp. , Sumitomo Mitsui Banking Corp. and Toyota Ventures LLC invested in a $147 million Africa-focused venture capital fund, in a sign of growing interest from the Asian nation in the continent’s startups. The Novastar Ventures fund also drew investors including SBI Holdings Inc. , Mitsui OSK Lines Ltd. and the Japan International Cooperation Agency , accor...
Japanese companies including Mitsubishi Corp. , Sumitomo Mitsui Banking Corp. and Toyota Ventures LLC invested in a $147 million Africa-focused venture capital fund, in a sign of growing interest from the Asian nation in the continent’s startups. The Novastar Ventures fund also drew investors including SBI Holdings Inc. , Mitsui OSK Lines Ltd. and the Japan International Cooperation Agency , according to partner Steve Beck. The Japanese investors “want access to knowledge and deal flow on the continent,” Beck said in an interview. “We are also giving them co-investment rights into the companies.” The backing by large Japanese firms underscores the growing interest from the nation in African companies as they contend with a shrinking market and relatively low interest rates at home. Last year, more than 60 Japanese investors backed over 190 deals on the continent, spanning corporate venture arms, banks and public agencies, according to research firm Briter. The fundraising comes after a subdued year for African venture capital, with firms raising only $107 million in 2025, according to the Venture Capital in Africa report . Read More: 25 African Startups to Watch This Year Novastar invests largely in green technology startups because if companies only replicate the industrial strategy of the global north, “we are all cooked,” said Beck. “If we attach some of the planet-positive technologies to the rapid growth engine in Africa, there can be an acceleration into the new economy.” Nairobi-based Novastar used the latest fund to invest in electric bus company BasiGo and the fleet manager for Uber ’s two-wheeler EV fleet Greenwheels in Kenya, said Beck. Another related investment was in ARC Ride, that does the battery swapping, he said. Novastar has also invested in Egypt’s Breadfast that raised $50 million recently, and Nigerian online food company Chowdeck , which is electrifying their fleet, said Beck. Biggest Off-Grid Solar Firm Enters Ethiopia in $150 Million Pact PE...
US gasoline climbed above an average of $4 a gallon for the first time since August 2022, one of the most visible measures of consumer pain in the world’s largest economy resulting from the war in Iran. The nationwide average retail price for regular unleaded gas rose to $4.018 a gallon on Monday, according to the American Automobile Association. Prices have surged by more than $1 since the start ...
US gasoline climbed above an average of $4 a gallon for the first time since August 2022, one of the most visible measures of consumer pain in the world’s largest economy resulting from the war in Iran. The nationwide average retail price for regular unleaded gas rose to $4.018 a gallon on Monday, according to the American Automobile Association. Prices have surged by more than $1 since the start of the war, up from $2.98 on the day before the US and Israel launched attacks against Tehran. The US and Israeli war against the Islamic Republic has rocked global energy markets, with crude and fuel prices surging as the Strait of Hormuz remains largely closed to traffic. US crude prices settled above $100 a barrel for the first time since 2022 on Monday, and the rally has been more acute in products that consumers use like gasoline and diesel. Already, retail diesel prices have risen above $5.40 a gallon, a key pain point for the broader economy. The surge in retail gasoline poses a political risk for President Donald Trump’s White House in a midterm-election year. In addition, the gains stand to complicate the challenge for the Federal Reserve , as Chair Jerome Powell and policymakers seek to both keep inflation in check while sustaining employment. The costlier US pump prices echo increases seen around the world since the outbreak of the war. Among them, gasoline in Japan surged to a record earlier this month. Elsewhere, shortages have emerged, with some fuel stations running dry in Australia. Prices have also spiked in Sri Lanka and Thailand. Retail US gasoline prices have risen by more than $1 in 30 days, on par with some of the sharpest spikes over the last 20 years. The surge has also been faster than the initial jump in prices in 2022, as oil markets anticipated and reacted to Russia’s invasion of Ukraine. The White House has unleashed a slew of measures looking to try to tamp down prices. They included a 60-day waiver of the Jones Act, which allows overseas-flagg...
EnerVenue – a rechargeable battery start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit – has raised US$300 million in its latest round of financing and appointed a new CEO to accelerate the large-scale industrial deployment of its cutting-edge energy storage technology. The California-based company – which also counts government-backed Hong Kong Inves...
EnerVenue – a rechargeable battery start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit – has raised US$300 million in its latest round of financing and appointed a new CEO to accelerate the large-scale industrial deployment of its cutting-edge energy storage technology. The California-based company – which also counts government-backed Hong Kong Investment Corporation (HKIC) as an investor – said it would set up a regional headquarters in the city...