EUR/USD 1.15366
-0.042%
Gold 4402.67
0.793%
Oil 82.217
0.039%
USD/JPY 159.321
0.014%
GBP/USD 1.35092
0.015%
GBP/JPY 215.235
0.030%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Cheung Kong Infrastructure Holdings Limited (01038.HK): Net profit for the first half of the year was HK$21.252 billion, up 389% year-on-year; net cash holdings at the end of Q2 were HK$33.9 billion.August 12th - According to statistics from the Guangdong Branch of the General Administration of Customs, in the first seven months of this year, Guangdongs foreign trade import and export reached 6.49 trillion yuan, a year-on-year increase of 20.5%, accounting for 21.6% of the national total and contributing 24.9% to the national import and export growth. Guangdongs import and export scale continues to rank first in the country. Specifically, exports reached 3.8 trillion yuan, an increase of 10.8%; imports reached 2.69 trillion yuan, an increase of 37.4%; and the trade surplus was 1.11 trillion yuan, narrowing by 24.5%. Looking at the monthly data, the import and export scale has maintained double-digit growth from January to July this year. In July alone, Guangdongs import and export reached 1.01 trillion yuan, an increase of 19%, maintaining its position above one trillion yuan after breaking the one trillion yuan mark for the first time in June. Specifically, exports reached 582.48 billion yuan, an increase of 7%; and imports reached 423.46 billion yuan, an increase of 40.7%.Tencent Holdings (00700.HK) announced that in the second quarter of 2026, the Group recorded negative free cash flow of RMB13.8 billion. This was due to net cash generated from operating activities of RMB52.7 billion, which was over-offset by capital expenditure payments of RMB59.3 billion, media content payments of RMB5 billion, and lease liability payments of RMB2.2 billion. Our operating cash flow includes substantial AI-related prepayments used to provide infrastructure to support Hy model upgrades, WorkBuddy and CodeBuddy inference needs, WeChat AI initiatives, and the development of AI capabilities for our various products and services, while also meeting the continued growth in demand for our cloud services from external customers. Excluding prepayments for computing power procurement, our free cash flow was RMB37.6 billion.The onshore yuan closed at 6.7456 against the US dollar at 16:30 on August 12, up 1 point from the previous trading day.On August 12th, a research report from Yide Futures pointed out that ships passing through the Strait of Hormuz and the Bab el-Mandeb Strait have recently encountered frequent attacks, increasing navigational risks. Shipping data shows that only 6 ships passed through the Strait of Hormuz on Monday (August 10th), and the daily number of ships passing through has been 11 over the past 10 days, significantly lower than the normal level of 125-140 ships. Our tracked shipping data also shows that both Middle Eastern seaborne exports and imports from the four Asian countries (China, Japan, India, and South Korea) have declined compared to the previous month. Considering that Saudi Arabia and the UAE are using pipeline detours, it is estimated that the Strait of Hormuz only needs to recover to 70% to be considered normal, but the current navigation situation is far below the pre-war 70%. Our valuation model shows that WTIs valuation remains around $76/barrel, and the current geopolitical premium has returned to $7/barrel. Overall, under the influence of geopolitical disturbances, oil prices will continue to exhibit high volatility and wide-range fluctuations. (This content and opinion are for reference only and do not constitute any investment advice.)

Deutsche Bank Won't Fund African Oil Pipeline, Source Claims

Aria Thomas

May 16, 2022 09:50

D1.png


A person familiar with the situation stated on Sunday that Deutsche Bank (ETR:DBKGn) is not financing a pipeline in Africa that environmental activists claim will relocate thousands of communities and destroy nature reserves.


The largest financial institution in Germany is under pressure to clarify its position on the funding of the proposed $3.5 billion East African Crude Oil Pipeline (EACOP), which would span over 1,400 kilometers from Uganda to Tanzania.


Deutsche has not commented on the idea despite rising criticism ahead of Thursday's annual shareholder meeting. In the coming days, environmental activist organization 350.org will organize a series of demonstrations.


"Numerous large banks and insurers have already withdrawn from this disastrous scheme. As one of the only large European banks that has not yet withdrawn its support for EACOP, we are intensifying pressure on Deutsche Bank "350.org stated in advance of the planned demonstrations.


The French energy firm Total, which is developing the pipeline alongside China National Offshore Oil Corporation, has stated that it is taking measures to alleviate the project's environmental and human impacts.


Deutsche Bank has branded itself in recent years as a bank that businesses can turn to as they move to a greener future.


Last year, Chief Executive Officer Christian Sewing stated, "We have placed sustainability at the center of our business."


The individual, speaking anonymously, stated that Deutsche Bank has never been engaged in the financing of the project.


Deutsche Bank stated in a statement that it does not comment on its clients but that it "supports the transition to a low-carbon economy" and that its policies bar it from financing projects that deliberately remove primary forests, regions of high conservation importance, and peatlands.


On its website, #The STOPEACOP movement asserts that the pipeline threatens the water supply for millions of people and will cut through areas vital to elephants, lions, and chimpanzees.

Suggestion