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Home > Latest

Lates News

date
30/04/2025
The WTI crude oil futures price fell below $60 per barrel, hitting the lowest level since April 11th.
Latest
2 m ago
World Gold Council: Global gold demand in Q1 reached its highest level of any quarter since 2016.
2 m ago
On Wednesday, the World Gold Council (WGC) stated that global gold demand (including OTC trading) in the first quarter of 2025 increased by 1% year-on-year to 1,206 tons, reaching the highest level since 2016. The significant increase in gold ETF inflows drove total investment demand to grow by 170% to 552 tons, the highest level since the first quarter of 2022. Demand for gold bars and coins in the first quarter remained at a high level of 325 tons, 15% higher than the five-year quarterly average. Global gold jewelry demand (the main category of physical demand) decreased by 21% to 380.3 tons, the lowest level since the 2020 pandemic. Another major source of gold demand, central bank purchases in the first quarter, decreased by 21% to 243.7 tons.
2 m ago
The U.S. International Trade Commission issues a final ruling on Section 337 for smart TVs.
2 m ago
The Australia Standard & Poor's/ASX 200 index closed up 0.7% at 8,126.20 points.
2 m ago
Citigroup released a report stating that PetroChina's net profit in the first quarter of 2025 was 46.8 billion yuan, an increase of 2% compared to the previous year, exceeding the bank's forecast by a few percentage points and a 25% decrease compared to Sinopec during the same period. The bank believes that this performance is quite impressive despite a decrease in oil and gas prices by 8% and 3% respectively year on year. Exploration and Production (E&P) and natural gas marketing's Earnings Before Interest and Taxes (EBIT) still increased by 7% and 10% year on year. This reflects solid cost control (E&P extraction costs decreased by 6% to $9.8 per barrel) and an integrated natural gas business model, while downstream (refining, chemicals) profit margins continue to outperform Sinopec. Citigroup predicts that with more favorable annual natural gas contract revisions from April 2025 to March 2026, PetroChina's domestic natural gas unit EBIT will remain stable, and losses from imported natural gas will narrow further as import prices may start to decline from the second quarter of 2025. With a dividend yield of over 8% and positive free cash flow, PetroChina remains Citigroup's top choice for Chinese oil and gas companies. Looking ahead to the next quarter, impacted by falling oil prices, but with natural gas business providing a cushion, the bank maintains a "buy" rating with a target price of HK$8.20 for PetroChina's H shares.
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