Hyundai Steel, in partnership with Hyundai Motor Group, announced a $5.8 billion investment to build a new steel plant in Louisiana, U.S., with an annual capacity of 2.7 million tonnes.
This move is part of a broader $21 billion investment plan by Hyundai Motor Group in the U.S., revealed during a meeting with U.S. President Donald Trump at the White House on Monday.
The news initially sent Hyundai Steel's shares up by more than 5%, but the gains were quickly reversed, with shares ultimately dropping 4.4% later in the session, despite Trump’s praise for the company’s investment. Meanwhile, Hyundai Motor and Kia Corp, which are expected to source steel from the new plant, saw their shares rally. Hyundai Motor's stock surged as much as 7.5%, reaching its highest point since October 2024, while Kia’s shares gained 4.3%.
The proposed plant marks a significant expansion for Hyundai Steel in the U.S., as the company continues to build its presence in the North American market amid growing demand for steel. The new facility is expected to support Hyundai Motor Group’s continued push for greater manufacturing and supply chain integration in the U.S.
U.S. President Donald Trump's envoy, Steve Witkoff, is traveling to Moscow this week for renewed peace talks with Russian President Vladimir Putin. The White House confirmed Tuesday that Witkoff will attempt to advance negotiations aimed at ending the war in Ukraine.
South Korean Finance Minister Choi Sang-mok departed for Washington on Tuesday to lead high-level trade negotiations with U.S. officials.
China’s pivot away from U.S. liquefied petroleum gas under new tariffs is shaking global energy flows, slashing demand, and fuelling a scramble for alternatives across Asia, with Middle Eastern suppliers and rival buyers seizing the moment.
In an unprecedented twist to U.S. immigration enforcement, hundreds of migrants, mostly Venezuelans, are being held in one of the world’s most notorious mega-prisons. It’s not in Texas or Arizona, but 70 kilometres east of San Salvador, under the iron grip of Nayib Bukele’s security state.
The Kremlin on Monday expressed satisfaction with recent statements from Washington indicating that Ukraine’s NATO membership is no longer under consideration — a position that aligns closely with Russia’s long-standing stance on the issue.
Kyrgyz and Azerbaijani cultural ministers signed a 2025–2026 roadmap to deepen bilateral cooperation during a meeting in Bishkek.
On April 23, President Ilham Aliyev of Azerbaijan and President Xi Jinping of China convened an expanded meeting at the Great Hall of the People in Beijing.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 23rd, covering the latest developments you need to know.
In India’s deadliest terrorist attack in nearly two decades, 26 people were killed and 17 injured when suspected militants opened fire on tourists in the Kashmir region, triggering national outrage and renewed concerns over security in the volatile territory.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Pope Francis's relationship with Azerbaijan has evolved significantly over the years, characterized by diplomatic exchanges, promotion of religious tolerance, and peace advocacy in the Caucasus region.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
Pope Francis, the first Latin American pope and a transformative figure in the Roman Catholic Church, has passed away at the age of 88, the Vatican confirmed in a video statement on Monday.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
The global economy, already fragile, now faces a new shock—this time from the United States. President Donald Trump’s latest tariff wave has dragged average U.S. duties to levels unseen in over a century. The trade war with China is escalating fast.
Sam Altman has stepped down as chair of nuclear start-up Oklo, citing a potential conflict of interest ahead of talks with OpenAI over a future energy supply deal. The move comes as the pressure mounts to power artificial intelligence with stable, low-carbon energy sources.
Toyota has signed a $2 billion deal to build a wholly-owned electric vehicle plant in Shanghai, as the Japanese automaker strengthens its position in China’s growing EV market during heightened US-China trade tensions.
The IMF has lowered global and U.S. economic growth forecasts, citing Trump-era tariffs and rising uncertainty. Global growth is expected at 2.8% this year, while U.S. growth may slow to 1.8%, with heightened recession and inflation risks.
The 18th meeting of the Joint Commission on Economic Cooperation between Iran and Russia is scheduled to take place in Moscow from April 23 to 25. The event aims to strengthen bilateral collaboration across a wide range of sectors.
Kyrgyz and Azerbaijani cultural ministers signed a 2025–2026 roadmap to deepen bilateral cooperation during a meeting in Bishkek.
On April 23, President Ilham Aliyev of Azerbaijan and President Xi Jinping of China convened an expanded meeting at the Great Hall of the People in Beijing.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 23rd, covering the latest developments you need to know.
In India’s deadliest terrorist attack in nearly two decades, 26 people were killed and 17 injured when suspected militants opened fire on tourists in the Kashmir region, triggering national outrage and renewed concerns over security in the volatile territory.
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