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.
Finnish Prime Minister Petteri Orpo has called on the United States to implement tougher sanctions against Russia, as the EU prepares its next sanctions package.
Australia pushes back on U.S. request to raise defence budget, saying strategic needs must come first.
China has issued a formal protest against the United States over recent remarks by Defence Secretary Pete Hegseth, accusing Washington of “vilifying” Beijing and promoting confrontation in the Indo-Pacific.
A Chinese military official on Saturday rejected U.S. allegations about Beijing’s regional behavior, accusing Washington of destabilizing the Asia-Pacific region.
U.S. Defense Secretary Pete Hegseth told Indo-Pacific allies Saturday they won’t be left alone against growing military and economic pressure from China—but they must also boost their own defense efforts.
Uzbekistan’s trade, accommodation, and food service industries maintained robust growth in the first quarter of 2025, with Gross Value Added (GVA) in these sectors reaching 39.1 trillion soums (approximately $3.8 billion), according to data from the National Statistical Committee.
A Swedish government-appointed commission has called for the phased end of international adoptions, citing decades of illegal and unethical practices that harmed children and their biological families.
Afghanistan and China have taken steps to deepen financial and banking cooperation, as acting central bank governor Noor Ahmad Agha met with Chinese Ambassador Zhao Xing in Kabul to discuss expanding economic ties, investment opportunities, and bilateral collaboration.
A federal judge ruled that Homeland Security Secretary Kristi Noem likely exceeded her authority by revoking documents granted under the Temporary Protected Status program—offering relief to thousands of Venezuelans facing potential deportation.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
Azerbaijan’s state oil company SOCAR and Canada’s Gran Tierra Energy Inc. have signed a memorandum of understanding (MoU) to conduct joint research focused on the technical and economic assessment of a project to explore, develop, and produce hydrocarbon resources in the Guba-Caspian region.
The Food and Agriculture Organization of the United Nations (FAO) has warned that, without immediate and sustained support, thousands of rural households in Ukraine may be unable to plant or harvest on schedule—threatening both national food security and rural livelihoods.
Tesla’s new car registrations in Norway jumped by 213% year-on-year in May, reaching 2,600 vehicles, boosted by strong demand for the revamped Model Y SUV.
Switzerland’s economy outperformed expectations in Q1 2025, driven by a surge in exports to the United States and strong growth in the chemical and pharmaceutical sectors.
Russian stocks and the ruble fell as investors reacted cautiously to upcoming negotiations between Russia and Ukraine in Istanbul.
Uzbekistan’s trade, accommodation, and food service industries maintained robust growth in the first quarter of 2025, with Gross Value Added (GVA) in these sectors reaching 39.1 trillion soums (approximately $3.8 billion), according to data from the National Statistical Committee.
A Swedish government-appointed commission has called for the phased end of international adoptions, citing decades of illegal and unethical practices that harmed children and their biological families.
Afghanistan and China have taken steps to deepen financial and banking cooperation, as acting central bank governor Noor Ahmad Agha met with Chinese Ambassador Zhao Xing in Kabul to discuss expanding economic ties, investment opportunities, and bilateral collaboration.
A federal judge ruled that Homeland Security Secretary Kristi Noem likely exceeded her authority by revoking documents granted under the Temporary Protected Status program—offering relief to thousands of Venezuelans facing potential deportation.
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