(RTTNews) - Air Canada (AC.TO) said it has strengthened its licence verification procedures after Transport Canada imposed a monetary penalty on a former pilot who lacked the required certification to serve as a captain.
(RTTNews) - Air Canada (AC.TO) said it has strengthened its licence verification procedures after Transport Canada imposed a monetary penalty on a former pilot who lacked the required certification to serve as a captain.
South Korea's cabinet on Tuesday approved an enforcement decree to implement Seoul's $350B investment commitment in the U.S., a key part of a bilateral trade agreement that secured lower U.S. tariffs on South Korean exports. The decree will take effect on June 18 alongside the Special Act for Korea-U.S. Strategic Investment Management, which was passed by the National Assembly in March. The invest...
South Korea's cabinet on Tuesday approved an enforcement decree to implement Seoul's $350B investment commitment in the U.S., a key part of a bilateral trade agreement that secured lower U.S. tariffs on South Korean exports. The decree will take effect on June 18 alongside the Special Act for Korea-U.S. Strategic Investment Management, which was passed by the National Assembly in March. The investment package stems from a Korea-U.S. agreement reached last year and consists of two components: $200B earmarked for investments in strategic U.S. industries and $150B dedicated to shipbuilding cooperation. The new decree outlines criteria for evaluating projects, including their "commercial viability," and establishes procedures for managing and overseeing the investments. Under the regulations, projects will qualify as "commercially viable" if the total income allocated to South Korea over the life of the investment is sufficient to cover both the principal and interest. The interest rate used in that calculation will be based on the yield of 20-year U.S. Treasury bonds, plus an additional spread to be agreed upon by Seoul and Washington when each investment is initiated. In addition, Soeul will establish the Korea-U.S. Strategic Investment Corporation, a new entity that will operate for 20 years and be seeded with 2T won (~$1.3B) in government funding. More on South Korea South Korean stocks plunge as traders scale back AI bets Most global central banks remain above inflation targets, BofA says
Indonesia’s central bank unexpectedly raised its benchmark interest rate in an off-cycle decision, seeking to shore up the rupiah after a selloff rattled the nation’s currency and bonds. Bank Indonesia lifted the benchmark BI-Rate by 25 basis points to 5.5%, it said in a statement on Tuesday, ahead of the scheduled June 17-18 policy review. The central bank had raised the key rate by a larger-than...
Indonesia’s central bank unexpectedly raised its benchmark interest rate in an off-cycle decision, seeking to shore up the rupiah after a selloff rattled the nation’s currency and bonds. Bank Indonesia lifted the benchmark BI-Rate by 25 basis points to 5.5%, it said in a statement on Tuesday, ahead of the scheduled June 17-18 policy review. The central bank had raised the key rate by a larger-than-expected 50 basis points in May. “Bank Indonesia sees the need to take further steps to strengthen the stabilization of the rupiah exchange rate by raising yields and offering various incentives to encourage foreign inflows,” the central bank said in a statement. “The stabilization of the rupiah exchange rate is also intended to maintain the external resilience of the Indonesian economy and ensure that the inflation targets for 2026 and 2027 are met,” it added. The rupiah extended gains to 0.2% after the decision, while the yield of five-year government bonds held their increase of 13 basis points. Stocks rallied 4.8%, before heading into the noon break. The emergency action reflects escalating concerns among policymakers after the rupiah’s slump drained foreign exchange reserves, which fell for the fifth consecutive month in May, the longest losing streak since 2018. The surprise move comes a day after Indonesia’s 10-year government bond yield jumped to the highest in more than a year, underscoring pressure on local assets as investors reassess exposure to emerging markets. The rupiah has weakened about 8% this year, while foreign investors have pulled more than $3.5 billion from Indonesian stocks, as the benchmark equity index tumbled more than 30%. Bank Indonesia and the government had recently pledged to join forces to boost the appeal of Indonesian assets to attract portfolio inflows. It is the second off-cycle rate increase under Warjiyo since he took the the reins at Bank Indonesia about eight years ago. In May 2018, the central bank raised the benchmark rate by 25 ...
Revego Fund Managers is exploring a merger with H1 Holdings that would create one of South Africa’s largest renewable energy-focused funds. The transaction would combine the portfolios of Investec-backed Revego’s Africa Energy Fund with those of H1, creating a fund with assets exceeding 13.3 billion rand ($807 million) and featuring 36 projects with interests spanning solar, wind, hydro and batter...
Revego Fund Managers is exploring a merger with H1 Holdings that would create one of South Africa’s largest renewable energy-focused funds. The transaction would combine the portfolios of Investec-backed Revego’s Africa Energy Fund with those of H1, creating a fund with assets exceeding 13.3 billion rand ($807 million) and featuring 36 projects with interests spanning solar, wind, hydro and battery-storage projects across southern Africa. “It’ll allow both of us to invest on a primary basis in new infrastructure build,and new energy generation, but also allow sponsors and existing investors to recycle their capital,” H1 Chief Executive Officer Reyburn Hendricks said in an interview. Regulatory approval for the transaction is expected by 2028. Revego, an open-ended fund that began in August 2021, has a portfolio of 2.4 billion rand, thanks to investments from UK development-finance institution British International Investment Plc and South African pension administrator Alexander Forbes Group Holdings Ltd. Its initial backers include Investec, Eskom Pension and Provident Fund — which manages the retirement savings of workers at South Africa’s state-owned power utility — and UK Climate Investments LLP , a joint venture between the British government and Macquarie Asset Management Ltd. It has 10 investments in South Africa, which has the biggest renewable-energy industry in the sub-Saharan African region. As part of the new structure, it will take on H1’s 26 projects, which will grow its scale, and give investors access to a de-risked and diversified portfolio. The new vehicle’s target yield will be inflation plus 5% to 7%, Revego Chief Investment Officer Ziyaad Sarang said. H1 — which began in 2011 and has been structuring projects across natural resources, energy, agriculture and infrastructure — will become Revego’s majority shareholder after increasing its stake to 51% from 36% currently. Read more: Investec-Backed Revego Lands $62 Million for South Africa Energy In...
peshkov/iStock via Getty Images Executive summary • The Nationwide International Small Cap Fund (IS share class) outperformed the MSCI EAFE® Small Cap Index 1.54% versus -1.25% for the quarter. • Weak selection in industrials, consumer staples, and utilities was more than offset by selection in information technology, materials, and communication services. • On a regional basis, stock selection wa...
peshkov/iStock via Getty Images Executive summary • The Nationwide International Small Cap Fund (IS share class) outperformed the MSCI EAFE® Small Cap Index 1.54% versus -1.25% for the quarter. • Weak selection in industrials, consumer staples, and utilities was more than offset by selection in information technology, materials, and communication services. • On a regional basis, stock selection was weakest in the Middle East and Europe. Market Environment International equities edged higher in the first quarter of 2026, navigating a complex macro backdrop shaped by geopolitical tensions and renewed inflation concerns. The escalation of military actions in the Middle East triggered a global energy shock, driving oil prices sharply higher and shifting investor focus back toward inflation and macroeconomic risk. This shock unfolded alongside a more protectionist global trade environment, complicating cross-border commerce and clouding the outlook for trade-dependent economies. At the same time, divergence in monetary policy across major regions reinforced an increasingly fragmented macroeconomic environment, with central banks in inflation- and energy-sensitive countries maintaining tighter policy stances while others moved more cautiously toward easing. Although corporate fundamentals remained broadly resilient across international markets, equity performance was tempered by valuation discipline as higher risk premia limited multiple expansion. As a result, the global economy faces a more challenging path forward, marked by potentially tighter financial conditions and heightened downside risks. The MSCI EAFE® Small Cap Index returned -1.25% for the period. Within the Index, six out of 11 sectors declined for the quarter. Consumer discretionary and communication services were the bottom performing sectors, while energy and utilities were the top performing sectors for the period. Performance Review Weak selection in industrials, consumer discretionary, and utilities wa...
A US Army Apache attack helicopter crashed near the Strait of Hormuz, with President Donald Trump saying the two crew members abroad were “fine” after the incident involving the strategic waterway, which remains under a chokehold by Iran. What caused the crash remained unclear Tuesday morning in the Middle East, which was still reeling after Iran and Israel exchanged fire the previous day in the b...
A US Army Apache attack helicopter crashed near the Strait of Hormuz, with President Donald Trump saying the two crew members abroad were “fine” after the incident involving the strategic waterway, which remains under a chokehold by Iran. What caused the crash remained unclear Tuesday morning in the Middle East, which was still reeling after Iran and Israel exchanged fire the previous day in the biggest blow yet to the straining ceasefire in the Iran war. Iranian state media, relying on foreign...
(RTTNews) - Baidu, Inc. (BIDU) said the the Deputy Secretary of Defense in the U.S. has included Baidu on the Department of Defense's list of Chinese Military Companies, or the CMC List. Baidu believes there is no justification for its inclusion on such list as the company is nei
(RTTNews) - Baidu, Inc. (BIDU) said the the Deputy Secretary of Defense in the U.S. has included Baidu on the Department of Defense's list of Chinese Military Companies, or the CMC List. Baidu believes there is no justification for its inclusion on such list as the company is nei
A worker operates a machine tool in a workshop producing rubber tires in Jining, Shandong province. Photo: VCG China’s industrial output likely accelerated in May, while consumption and investment remained weak, according to a Caixin survey, suggesting the country’s economic recovery continues to rely heavily on external demand. The survey of 11 domestic and international institutions showed an av...
A worker operates a machine tool in a workshop producing rubber tires in Jining, Shandong province. Photo: VCG China’s industrial output likely accelerated in May, while consumption and investment remained weak, according to a Caixin survey, suggesting the country’s economic recovery continues to rely heavily on external demand. The survey of 11 domestic and international institutions showed an average forecast for industrial production growth of 4.3% year-on-year in May, up from the previous month’s actual reading of 4.1%.
XtockImages/iStock via Getty Images China’s trade surplus expanded to $105.43 billion in May 2026, up from $102.72 billion in May 2025, comfortably beating market forecasts of $92.1 billion. However, due to higher import costs earlier in the year, the cumulative trade surplus for the first five months of 2026 (January–May) declined to $451.71 billion, compared to $471.9 billion during the same per...
XtockImages/iStock via Getty Images China’s trade surplus expanded to $105.43 billion in May 2026, up from $102.72 billion in May 2025, comfortably beating market forecasts of $92.1 billion. However, due to higher import costs earlier in the year, the cumulative trade surplus for the first five months of 2026 (January–May) declined to $451.71 billion, compared to $471.9 billion during the same period in 2025. Exports grew sharply by 19.4% year-on-year to a record $376.78 billion in May 2026. This performance outpaced expectations, propelled by robust global demand for semiconductors and AI hardware, alongside a surge in front-loading shipments by exporters racing to outrun upcoming foreign tariff deadlines. Meanwhile, imports climbed 27.4% year-on-year to $271.35 billion, beating consensus estimates and marking the 12th consecutive month of import expansion due to resilient domestic demand. For the first five months of the year, total imports rose 24.5% to $1,261.69 billion. On Tuesday, the Shanghai Composite rose 0.2% to 3,965 on Tuesday, while the Shenzhen Component advanced 1.2%, and the offshore yuan held its gains around 6.78 per dollar , as stronger-than-expected trade data highlighted the resilience of China's export sector despite signs of an economic slowdown. ETFs: (NYSEARCA: FXI ), (NYSEARCA: KWEB ), (NYSEARCA: CQQQ ), (NASDAQ: MCHI ), (NYSEARCA: ASHR ), (NYSEARCA: YINN ), (NYSE: TDF ), (NYSEARCA: CHIQ ), (NYSEARCA: GXC ), (NYSEARCA: EWH ), (NYSEARCA: KBA ), (NYSEARCA: YANG ), (NASDAQ: CXSE ), (NYSE: CAF ), (NYSEARCA: CWEB ), (NASDAQ: PGJ ), (NYSEARCA: KURE ). Currency: ( CNY:USD ) More on China markets and economy: GXC: Deflation And Unemployment Spiral Risks For China FXI And MCHI: China Is A Perfect Example Of A Value Trap Trump-Xi Summit: Rare Earths, Oil, And A Fragile Truce China says overseas holdings won't face forced liquidation Asian stock markets plunge as South Korea's KOSPI triggers halt amid global tech rout, geopolitical shock