Global

  Oil Prices Extend Losses Amid Oversupply and Weak U.S. Demand Crude benchmarks continued their downward trend on Friday, extending the sharp losses recorded in the previous session. The market remains under pressure from oversupply concerns and muted demand in the United States, even as geopolitical risks persist in the Middle East and Ukraine. As of 07:03 GMT, Brent crude was trading at $65.82 per barrel , down 55 cents (0.83%), while West Texas Intermediate (WTI) slipped 57 cents (0.91%) to $61.80 per barrel . Commenting on the market outlook, Priyanka Sachdeva, Senior Market Analyst at Phillip Nova, noted: “The U.S. inflation battle does not appear to be over, which weakens the demand outlook for oil. Even with geopolitical unrest, the underlying fundamentals of oversupply and subdued demand continue to dominate.” Latest government data added to the cautious sentiment. U.S. consumer prices in August recorded their sharpest rise in seven months, while jobless claims increa...

  Rothschild Strengthens Wealth Management Presence in Dubai Rothschild & Co has strengthened its footprint in the Middle East with the acquisition of Liechtensteinische Landesbank’s (LLB) UAE subsidiary , a strategic move designed to expand its wealth management presence in Dubai. The deal brings in approximately 20 employees and their associated clients, potentially adding close to CHF 1 billion (around US$ 1.2 billion) in assets under management to Rothschild’s operations in the region. According to reports in Financial News London and the Financial Times , the acquisition highlights Rothschild’s commitment to tapping into Dubai’s growing role as a global financial hub. With favorable tax policies, a robust regulatory framework, and a reputation for stability, the UAE has become a preferred destination for high-net-worth individuals and global wealth managers alike. Following the acquisition, Rothschild’s Dubai-based team has expanded to 25 professionals , enabling the...

  Air travel has long been celebrated as one of the safest modes of transportation, with technological innovations and stringent safety standards drastically reducing accident rates over the decades. However, the year 2024 has shaken that confidence , as new data from the International Civil Aviation Organization (ICAO) reveals a staggering 311% increase in air travel fatalities compared to the previous year. Fatalities and Accidents at a Record High According to ICAO’s latest safety report, 296 people lost their lives in commercial aviation incidents in 2024 , a sharp rise from just 72 in 2023 . The number of scheduled flight accidents also rose significantly—from 66 in 2023 to 95 in 2024 . In terms of frequency, the global accident rate climbed to 2.56 accidents per million departures , up from 1.87 the year before. While aviation remains statistically safe, the surge underscores new vulnerabilities in the system. Asia-Pacific Region Hardest Hit The Asia-Pacific region ...

  Canada to Eliminate Tariffs on U.S. Goods Starting September 1 Ottawa, August 23, 2025 — In a significant development for North American trade, Canada has announced that it will eliminate 25% retaliatory tariffs on a wide range of U.S. goods beginning September 1, 2025 . The move, announced by Prime Minister Mark Carney , comes after high-level discussions with U.S. President Donald Trump and is seen as a step toward easing trade tensions between the two neighbors. Affected Goods The tariff rollback will apply to consumer and agricultural products , including orange juice, peanut butter, wine, spirits, beer, motorcycles, and household appliances. Officials estimate the measure will impact over $20 billion worth of American exports to Canada. Tariffs Still in Place Despite the broader rollback, Canada confirmed that tariffs on steel, aluminum, and automobiles will remain in force. These sectors, considered strategically vital, are expected to be central in the upcoming ...

  Kotak Mahindra (International) Ltd. , a global subsidiary of Kotak Mahindra Bank, has been granted a license by the UAE Securities & Commodities Authority (SCA) to provide investment fund management and portfolio management services within the UAE. This marks the first time an Indian institution has secured such direct access for retail investors in the region. Key Details & Significance Market Access Expansion Until now, Kotak Mahindra primarily served UAE-based HNWIs through intermediaries like wealth managers and insurance platforms. This license allows them to directly target retail clients with a low entry threshold of around USD 500 . Reuters +1 Initiatives like these democratize access to professional investment opportunities in the UAE’s previously high-barrier market. India-Focused Fund Launch Kotak plans to launch India‑centric retail funds , aligning with its successful UCITS (Luxembourg-domiciled) and India-domiciled strategies. Subscriptions are ...

The International Energy Agency (IEA) has revised its global oil supply forecasts for 2025 and 2026 upward, prompting fresh debate over the potential for a substantial market surplus. The updated outlook suggests a looming imbalance—one that carries critical implications for investors, producers, and economies worldwide. Key Forecast Highlights The IEA now projects global oil supply to grow by 2.5 million barrels per day (bpd) in 2025—an upward revision of 0.4 million bpd from its previous estimate—driven largely by OPEC+ dismantling its production cuts and increased output from non-OPEC countries. In 2026, supply is expected to rise by 1.9 million bpd . Investopedia +10 Reuters +10 TASS +10 Reuters +1 On the demand side, the agency lowered its 2025 growth forecast to 680,000 bpd , down from earlier estimates, with a modest rise to 700,000 bpd expected in 2026. Reuters +2 Reuters +2 This mismatch between supply and demand foreshadows a widening surplus. Reports indicate in...