A Scottish man, described as a senior figure in an international crime syndicate, was arrested shortly after landing on the resort island of Bali, according to authorities in Indonesia. The 45-year-old, identified as Steven Lyons, was taken into custody by immigration officers at Ngurah Rai International Airport on Saturday on arrival from Singapore, Untung Widiyatmoko, head of Indonesia’s branch ...
A Scottish man, described as a senior figure in an international crime syndicate, was arrested shortly after landing on the resort island of Bali, according to authorities in Indonesia. The 45-year-old, identified as Steven Lyons, was taken into custody by immigration officers at Ngurah Rai International Airport on Saturday on arrival from Singapore, Untung Widiyatmoko, head of Indonesia’s branch of Interpol, said on Tuesday. The immigration system had flagged him as the subject of an Interpol...
Manufacturing across much of Asia expanded in March, with activity improving in South Korea, Malaysia and Thailand, even as other economies saw the impact of energy supply disruptions from the US-Israeli war on Iran that have pushed oil prices higher. The conflict appeared to weigh on activity in Vietnam, Indonesia and semiconductor hub Taiwan, where readings eased from February while remaining ab...
Manufacturing across much of Asia expanded in March, with activity improving in South Korea, Malaysia and Thailand, even as other economies saw the impact of energy supply disruptions from the US-Israeli war on Iran that have pushed oil prices higher. The conflict appeared to weigh on activity in Vietnam, Indonesia and semiconductor hub Taiwan, where readings eased from February while remaining above the 50 threshold that separates expansion from contraction, S&P Global data published Wednesday showed. Thailand led the region with a reading of 54.1, while Malaysia returned to expansion after contracting the previous month. The March reports mark the first full month of manufacturing PMI data since the US-Israeli war on Iran began on Feb. 28 and subsequently escalated, disrupting shipping through the Strait of Hormuz, a key oil transit route. The conflict has pushed oil prices above $100 a barrel, raising the risk of renewed inflationary pressures. Following February’s record-high reading of 53.8, the S&P Global ASEAN Manufacturing Purchasing Managers’ Index fell to 51.8 in March. Despite signaling a moderate improvement in the health of ASEAN’s manufacturing sector and extending the current run of expansion to nine months, it was the lowest figure since last September and highlighted a notable loss of growth momentum since February. “The initial signs of the war in the Middle East were visible across the ASEAN economies,” Maryam Baluch, economist at S&P Global Market Intelligence, said in a statement. “The regions’ outlook remains uncertain and will be influenced by the intensity and duration of the war in the Middle East.” Australia Manufacturing Slips to Contraction on War Disruptions Data from China’s National Bureau of Statistics had shown factory activity expanded for the first time this year in March despite higher energy prices and disruptions caused by the escalating conflict in the Middle East. The non-manufacturing measure of activity in construction and s...
Philip Steury/iStock via Getty Images Volatility Without Deterioration The goal of this letter is to provide transparency into our market views and portfolio positioning for our investors. In an environment dominated by headlines and short-term narratives, long-form communication allows us to better contextualize both macro developments and company-specific fundamentals. To start we'll state that ...
Philip Steury/iStock via Getty Images Volatility Without Deterioration The goal of this letter is to provide transparency into our market views and portfolio positioning for our investors. In an environment dominated by headlines and short-term narratives, long-form communication allows us to better contextualize both macro developments and company-specific fundamentals. To start we'll state that we're not taking the Middle East conflict lightly. The majority of the G10 central banks were expected to cut interest rates this year but higher oil prices will boost inflation and those rate cuts have been put on pause. Renewed inflation and therefore higher interest rates can have extreme impacts on stocks, which was seen in full force in 2022. The market was pricing in 2 rate cuts for the Fed this year, but with Iran and the price of oil, the market is now pricing in zero rate cuts. We view this as the main reason behind the broad sell-off in the stock market. There are left tail risks if this war escalates and broadens geographically, compounding the oil shock and supply chain disruption. As an investor, you have to ask yourself what is your edge in a market like this? Our edge in this environment is not macro forecasting – it is depth of understanding. We run a concentrated portfolio, allowing us to underwrite each business with a level of detail that gives us confidence in forward earnings power, regardless of short-term macro volatility. Each of our largest investments is set to have their best financial performance in their history in 2026. 1 Iran, Oil, & Inflation – Middle East Conflict The stock market is currently in the shakeout phase. This is similar to the liberation day tariff debacle or the start of the Russia Ukraine war. At the time no one knew what the overall impact would be. Both from degree and length of time. Each time there is an “event” like this, the investor’s reaction is to sell stocks, which means the stock market’s reaction is to broadly decli...
With the conflict in the Persian Gulf still ongoing, it's a good idea to buy some protection for a portfolio in case of an extended conflict, or even a relatively short one that results in lasting structural damage to the economic activity that preceded it. Following that line of thought, here's a whistle-stop tour through 10 stocks that can help investors in the current environment. It's hard not...
With the conflict in the Persian Gulf still ongoing, it's a good idea to buy some protection for a portfolio in case of an extended conflict, or even a relatively short one that results in lasting structural damage to the economic activity that preceded it. Following that line of thought, here's a whistle-stop tour through 10 stocks that can help investors in the current environment. It's hard not to come across as Captain Obvious here, but oil and gas exploration and production companies are a good place to start, particularly those operating in the U.S., such as Permian Basin-focused Devon Energy (NYSE: DVN) and Diamondback Energy (NASDAQ: FANG) . Those two companies are not only attractive as a tactical way to manage the risk of an oil price spike; they also look like a great value based on the price of oil before the conflict . Continue reading
(RTTNews) - The China stock market on Tuesday ended the two-day winning streak in which it had gained almost 35 points or 0.9 percent. The Shanghai Composite Index now sits just above the 3,890-point plateau although it's expected to bounce higher again on Wednesday.
(RTTNews) - The China stock market on Tuesday ended the two-day winning streak in which it had gained almost 35 points or 0.9 percent. The Shanghai Composite Index now sits just above the 3,890-point plateau although it's expected to bounce higher again on Wednesday.