As artificial intelligence (AI) adoption accelerates worldwide, Hong Kong is sharpening its focus on applying AI technologies across various domains to make life easier, more efficient and more connected for citizens and businesses alike. Building on Hong Kong’s smart city strategy and its role within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the Government and local industry are worki...
As artificial intelligence (AI) adoption accelerates worldwide, Hong Kong is sharpening its focus on applying AI technologies across various domains to make life easier, more efficient and more connected for citizens and businesses alike. Building on Hong Kong’s smart city strategy and its role within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the Government and local industry are working together to turn pilot projects into practical AI-driven solutions that support long-term...
Company earnings expected to soar to between $200m and $700m in first quarter Business live – latest updates Shell is expected to report “significantly higher” profits from its commodity trading desks in the first quarter of this year after weeks of market volatility triggered by the Iran crisis. The surge in energy commodity markets over recent weeks is expected to drive up trading results at She...
Company earnings expected to soar to between $200m and $700m in first quarter Business live – latest updates Shell is expected to report “significantly higher” profits from its commodity trading desks in the first quarter of this year after weeks of market volatility triggered by the Iran crisis. The surge in energy commodity markets over recent weeks is expected to drive up trading results at Shell’s chemicals and products unit, which includes its main oil trading desk. Continue reading...
China has granted independent refiners additional crude import quotas to allow them to continue to produce fuels at officially mandated levels, helping Beijing to cope with the impact of disrupted supplies from the Persian Gulf. The concession — given before the US, Israel and Iran agreed to a two-week ceasefire — is aimed at keeping fuel production high and bolstering domestic energy security, ac...
China has granted independent refiners additional crude import quotas to allow them to continue to produce fuels at officially mandated levels, helping Beijing to cope with the impact of disrupted supplies from the Persian Gulf. The concession — given before the US, Israel and Iran agreed to a two-week ceasefire — is aimed at keeping fuel production high and bolstering domestic energy security, according to people familiar with the matter. It will not, however, support profit margins at plants badly squeezed by rising crude prices and US waivers that have widened access to sanctioned supply. Teapots were told last week to keep fuel output stable at 2025 levels, even if they have to incur losses. The measures underscore Beijing’s push to secure fuel supply, even at the cost of significant strain for the independent processors, a sector which makes up about a fifth of China’s total refining capability and has long struggled with overcapacity. To cope with deteriorating margins, teapots have been aggressive in buying cargoes from Iran, Russia and Venezuela, taking advantage of cheap prices that are not accessible to larger, state-owned players unwilling to get tangled in US restrictions. Granting extra quotas should help those supplies keep arriving, said Liao Na, founder of GL Consulting. “Beijing wants to fully utilize the private refineries’ importing potential to offer a buffer for Chinese oil supply during this crisis,” Liao said. The cost advantage, though, is fading. US waivers on Iranian and Russian oil sanctions have narrowed discounts that once underpinned margins, with some grades now trading at premiums to Brent. Domestic fuel prices have also come under pressure, with the government recently passing along a smaller-than-expected increase to shield consumers. As a condition of the extra quota, teapots have been told to maintain current run rates for at least a month even after the Strait of Hormuz reopens, according to people familiar with the request. Exac...
Craig Bolton has joined the North American Team for Cashbook. Craig strengthens Cashbook's presence in North America with 25+ years of experience in finance, sales and ERP businesses. Craig's unique skill set will accelerate the acquisition of new business for Cashbook. Craig has deep ERP experience in Infor's XA, BPCS, LX, Oracle's JDE World, JDE Enterprise One and NetSuite.
Craig Bolton has joined the North American Team for Cashbook. Craig strengthens Cashbook's presence in North America with 25+ years of experience in finance, sales and ERP businesses. Craig's unique skill set will accelerate the acquisition of new business for Cashbook. Craig has deep ERP experience in Infor's XA, BPCS, LX, Oracle's JDE World, JDE Enterprise One and NetSuite.
Bjoern Wylezich/iStock Editorial via Getty Images Considering the ongoing escalation in the Middle East, we report positively on Air Products and Chemicals' ( APD ) share price performance (up by more than 20% since mid-December 2025 - Fig. 1). Here at the Lab, we downgraded Linde due to a pricey valuation, while we believe APD’s equity story remains underappreciated. Our team has long covered Air...
Bjoern Wylezich/iStock Editorial via Getty Images Considering the ongoing escalation in the Middle East, we report positively on Air Products and Chemicals' ( APD ) share price performance (up by more than 20% since mid-December 2025 - Fig. 1). Here at the Lab, we downgraded Linde due to a pricey valuation, while we believe APD’s equity story remains underappreciated. Our team has long covered Air Products and Chemicals. Still, we believe 2026 guidance came in ahead of Wall Street expectations, and the latest developments in Louisiana and NEOM reinforced project economics and mitigated commercial uncertainties. In our previous analysis, we viewed the stock more favorably given its lower CAPEX. Today, there are additional upside factors to consider. Mare Ev. Lab Rating Update Fig 1 Air Products Results and Our Upside The company reported its numbers at the end of January so that we will keep the commentary brief. Q1 adjusted EPS was +10% on a yearly basis (Fig. 2) and came in 4% above consensus. ADP reported flat volumes, as favorable on-site offsets lowered helium prices, and ADP reiterated its 2026 EPS guidance with a midpoint of $13.00. Divisionally, Americas volume was down by 4%, with price up 2%. The geo EBIT segment reached $404 million, driven by lower maintenance costs. European volumes were up 5%, with a 1% price increase. Asian volumes were flat, driven by higher on-site offset by lower helium, while price was down 1%. All in all, the company delivered an adjusted operating EBIT of $757 million, with a margin 140 basis points higher than last year. APD Q1 Results in a Snap Fig 2 Why Are We Positive? Taking advantage of our Linde follow-up note, we report that "approximately 30% of the global helium supply is reportedly offline due to the Strait of Hormuz being closed. This is due to Qatar LNG assets, where the helium is extracted along with natural gas." Linde communicated that the helium supply is insufficient to meet market demand. This is key to APD bec...
Smoke billows after an Israeli strike on Beirut's southern suburbs, following an escalation between Hezbollah and Israel amid the U.S.-Israeli conflict with Iran, Lebanon, March 9, 2026. Mohamed Azakir | Reuters Lebanon is seeking urgent clarity on whether it's part of the ceasefire pausing the Iran war, its economy minister told CNBC, adding it was getting "mixed signals." Israel, which has been ...
Smoke billows after an Israeli strike on Beirut's southern suburbs, following an escalation between Hezbollah and Israel amid the U.S.-Israeli conflict with Iran, Lebanon, March 9, 2026. Mohamed Azakir | Reuters Lebanon is seeking urgent clarity on whether it's part of the ceasefire pausing the Iran war, its economy minister told CNBC, adding it was getting "mixed signals." Israel, which has been striking Iranian-allied Hezbollah targets within Lebanon, has said the two-week truce does not apply to the country and on Wednesday issued an evacuation order for the southern city of Tyre ahead of potential strikes. "We're getting mixed signals, or mixed reports," Amer Bisat, Lebanese economy minister, told CNBC on Wednesday. "Some are suggesting that Lebanon is part of a ceasefire, others, including from Israel, are suggesting that it's not. This is something we need to be confirming over the next few hours. Obviously, our hope, our demand, has always been to end hostilities," he told CNBC's Dan Murphy. watch now VIDEO 7:36 07:36 Lebanon's Economy Minister reacts to Iran ceasefire Access Middle East Lebanon's status in the ceasefire seems uncertain after the deal was announced late on Tuesday. Pakistani Prime Minister Shehbaz Sharif, who helped to broker the agreement, announced on social media platform X overnight that the U.S., Iran and their regional allies "have agreed to an immediate ceasefire everywhere, including Lebanon and elsewhere." But Israeli Prime Minister Benjamin Netanyahu's office contradicted that statement, with a post on X earlier Wednesday claiming "the two-week ceasefire does not include Lebanon." 'Devastating' setback Lebanon and its capital Beirut have been the target of Israeli-led attacks against Iranian proxy Hezbollah over the last five weeks. Israeli ground forces have invaded the south of the country as part of a parallel campaign against Tehran. Hezbollah reportedly halted fire against northern Israel and Israeli troops in Lebanon early on ...