TOKYO: Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after U.S. President Donald Trump's decision to pull out of a nuclear deal with Iran.MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, while Japan's Nikkei climbed 0.5 percent.Elsewhere in Asia, a stunning election upset in Malaysia by the opposition sent ringgit forwards sliding more than 2 percent in offshore trade and the cost to insure against a Malaysian debt default rose.Moody's ratings agency said the country was now in uncharted territory after an alliance of opposition parties led by former prime minister Mahathir Mohamad shocked the ruling coalition."The surprise win by Mahathir's coalition party is likely to see an increase in policy uncertainty at least in the short term with market volatility likely to be higher," said Sian Fenner, lead Asian economist at Oxford Economics.Special public holidays were declared for Thursday and Friday … [Read more...] about Asia stocks rise on crude oil rally; Malaysia ringgit slides
Crude oil
News Asia stocks rise as crude oil extends rally on Iran worries
TOKYO - Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after US President Donald Trump's decision to pull out of a nuclear deal with Iran. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, while Japan's Nikkei climbed 0.5 percent. Elsewhere in Asia, a stunning election upset in Malaysia by the opposition sent ringgit forwards sliding more than 2 percent in offshore trade and the cost to insure against a Malaysian debt default rose. Moody's ratings agency said the country was now in uncharted territory after an alliance of opposition parties led by former prime minister Mahathir Mohamad shocked the ruling coalition. "The surprise win by Mahathir's coalition party is likely to see an increase in policy uncertainty at least in the short term with market volatility likely to be higher," said Sian Fenner, lead Asian economist at Oxford Economics. Special public holidays were declared for Thursday and Friday … [Read more...] about News Asia stocks rise as crude oil extends rally on Iran worries
Asia stocks rise as crude oil extends rally on Iran worries
Business Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after U.S. President Donald Trump's decision to pull out of a nuclear deal with Iran. 10 May 2018 08:45AM Bookmark TOKYO: Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after U.S. President Donald Trump's decision to pull out of a nuclear deal with Iran.MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, while Japan's Nikkei climbed 0.5 percent.Elsewhere in Asia, a stunning election upset in Malaysia by the opposition sent ringgit forwards sliding more than 2 percent in offshore trade and the cost to insure against a Malaysian debt default rose.Moody's ratings agency said the country was now in uncharted territory after an alliance of opposition parties led by former prime minister Mahathir Mohamad shocked the ruling coalition."The surprise win by Mahathir's coalition party is likely to … [Read more...] about Asia stocks rise as crude oil extends rally on Iran worries
Bumi Armada’s Nigeria-based FPSO vessel ordered to halt operations, crude oil seized
PETALING JAYA: Bumi Armada Bhd’s wholly owned subsidiary Bumi Armada (Singapore) Pte Ltd has received a notice for the immediate shutdown of operations of its Nigeria-based floating production storage and offloading (FPSO) vessel, Armada Perdana, and a notice of seizure of crude oil produced and to be produced there. The group said in a stock exchange filing today that it received a notice from Erin Petroleum Nigeria Ltd on April 11 advising it of a purported “force majeure event” and requesting the immediate and orderly shutdown of operations on Armada Perdana. In addition, it also received a notice of seizure/attachment of goods from a third party informing it that the entire crude oil produced, to be produced and stored in the vessel has been seized. This came with a writ of attachment in relation to legal proceedings to which the Bumi Armada group is not a party from the Federal High Court, Lagos. Bumi Armada said it is of the view that the purported force … [Read more...] about Bumi Armada’s Nigeria-based FPSO vessel ordered to halt operations, crude oil seized
Bumi Armada’s Nigeria-based FPSO vessel order to halt operations, crude oil seized
PETALING JAYA: Bumi Armada Bhd’s wholly owned subsidiary Bumi Armada (Singapore) Pte Ltd has received a notice for the immediate shutdown of operations of its Nigeria-based floating production storage and offloading (FPSO) vessel, Armada Perdana, and a notice of seizure of crude oil produced and to be produced there. The group said in a stock exchange filing today that it received a notice from Erin Petroleum Nigeria Ltd on April 11 advising it of a purported “force majeure event” and requesting the immediate and orderly shutdown of operations on Armada Perdana. In addition, it also received a notice of seizure/attachment of goods from a third party informing it that the entire crude oil produced, to be produced and stored in the vessel has been seized. This came with a writ of attachment in relation to legal proceedings to which the Bumi Armada group is not a party from the Federal High Court, Lagos. Bumi Armada said it is of the view that the purported force … [Read more...] about Bumi Armada’s Nigeria-based FPSO vessel order to halt operations, crude oil seized