Trump secures deal for 15% tariff on South Korean imports
The U.S. will impose a 15% tariff on imports from South Korea under a new trade deal that also includes a $350bn (about £264bn) South Korean investme...
Malaysia’s palm oil stocks fell to 1.51 million tons in February, the lowest in nearly two years, due to lower production and exports. Crude palm oil output dropped 4.16%, while exports fell 16.27%. The decline may impact global prices, with supply and demand shaping future trends.
Malaysia’s palm oil stocks fell to their lowest level in nearly two years at the end of February, reaching 1.51 million metric tons, according to the Malaysian Palm Oil Board (MPOB). This marks a 4.31% decline from January, reflecting a downward trend in both production and exports.
Crude palm oil production in February dropped by 4.16% to 1.19 million tons, while exports saw a significant decline of 16.27%, totaling just over 1 million tons. Industry experts had predicted even lower stock levels at 1.48 million tons, but actual figures remained slightly higher than forecasts.
Comparing year-on-year data, Malaysia’s palm oil inventory was significantly lower than the 1.92 million tons recorded in February 2024, highlighting tighter supply conditions. Imports also fell to 66,784 tons, down from 88,474 tons in January.
The declining stock levels could influence global palm oil prices and trade flows, with demand and weather conditions playing a crucial role in shaping market trends in the coming months. As Malaysia remains a key player in the palm oil industry, these shifts may have wider economic implications.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
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A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
The World Bank has announced that Tajikistan's medium-term outlook remains favourable, with growth projected to moderate to 7% in 2025 and converge toward a growth rate of 4.5% in 2026 and 5% in 2027.
Adidas saw its shares drop 7.5% in early Wednesday trading after second-quarter sales came in below expectations and the company warned of an added €200 million ($231 million) cost burden from new U.S. tariffs in the second half of 2024.
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Türkiye is pressing Iraq to include a clause in a new energy deal that guarantees full utilization of the Kirkuk-Ceyhan oil pipeline, which has remained idle since 2023 due to legal disputes.
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