Financial News

China's Factory Gate Prices Return to Growth in March, Snapping Over Three-Year Decline

China's factory gate prices ended their 41 consecutive months of decline in March, mainly due to imported inflationary pressures and improved supply-demand dynamics in some domestic industries, according to data released Friday by the National Bureau of Statistics.The producer price index rose 0.5% last month, rebounding from the 0.9% decline in February.The March reading was higher than the 0.4% gain estimated in a Reuters poll.

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Air New Zealand Completes Trial of Digital Identity Technology to Ease Passport Checks

Air New Zealand (NZE:AIR, ASX:AIZ) said Friday it has completed the trial of a new digital identity technology designed to reduce repeated passport checks and make travel more seamless.The company said in a statement that the technology allows customers to add their passport information in the Air NZ app, securely share verified identity information during online check-in, and use it to support biometric verification at selected touchpoints across the journey.The trial also included integration with the New Zealand Traveller Declaration, making it easier for customers to complete the online form, with Air New Zealand working closely with government agencies and industry partners to develop the technology further.The airline said it is sharing insights from the trial with global aviation bodies, including the International Air Transport Association.The company's Kiwi shares fell 1% in recent Friday trade, while its Australian shares were down nearly 3%.

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Equities1d ago

Shell Targets First Gas by 2027 From Venezuela-Trinidad Project

Gerald Ramdeen, chairman of Trinidad and Tobago's National Gas Co., said Shell (SHEL.L, SHELL.AS) is working toward a first-gas timeline of 2027 for the Loran-Manatee offshore field that crosses the country's border with Venezuela, Reuters reported Thursday.Citing information from the British oil and gas company, Ramdeen said the daily pipeline capacity for gas transport to Trinidad from the project has been increased to 1 billion cubic feet from the original plan of 700 million cubic feet.Shell confirmed the 2027 production target to Reuters for the Manatee field, saying a final decision has yet to be made for the Loran site.Shell did not immediately respond to a request for comment from.

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China's March Consumer Inflation Slows to 1%, Missing Forecasts

China's consumer price index logged a 1% annual rise in March, slower than the 1.3% increase in February, according to data from China's National Bureau of Statistics.This was slower than the 1.2% rise expected by economists polled by Reuters.Core CPI, which excludes food and energy prices, went up 1.1%.On a monthly basis, CPI ticked down 0.7%.

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Equities1d ago

Whitehaven Coal Enters New $600 Senior Secured Syndicated Facility, Shares Fall 5%

Whitehaven Coal (ASX:WHC) entered into a new $600 million senior secured syndicated facility with a tenor of 4.5 years and with a headline rate of around 6%, according to a Friday Australian bourse filing.The facility includes a $475 million term loan and a $125 million revolving credit facility.It also received bank credit approvals for an additional $150 million and may upsize this facility as part of its current refinancing process.The facility will be used to repay a portion of Whitehaven's existing $1.1 billion acquisition term loan facility and replace its existing $100 million general corporate purpose revolving credit facility. Completion of the facility is subject to customary closing conditions.Its shares fell 5% in recent trading on Friday.

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Bank of Korea Keeps Base Rate Steady at 2.5%

The Bank of Korea's Monetary Policy Board on Friday decided to keep the base rate steady at 2.50% for the intermeeting period, taking into account the uncertainty surrounding the recent developments in the Middle East, which could fan inflation.The central bank's decision was largely expected by all 31 economists polled by Reuters. Most of the 30 economists expect no rate change through this year, with only four forecasting an increase--three to 2.75% and one to 3% by year-end.The Bank of Korea expects inflation to climb to the mid-upper 2% range amid higher global oil prices, though government measures may partly offset the pressure.Annual inflation is now projected to surpass the February forecasts of 2.2% for headline inflation and 2.1% for core inflation. However, uncertainty remains high due to oil prices, exchange rates, policy effects, and cost pass-through levels.

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Average Weekly Rent Across Auckland Falls 0.2% for Properties With Over Five Bedrooms, Barfoot & Thompson Says

The average weekly rent in March across Auckland for properties with over five bedrooms came in at about NZ$1,030, down 0.2% year over year, according to data from Barfoot & Thompson on Friday.The average weekly rent for four-bedroom properties in March rose 0.5% to NZ$843.39, for three-bedroom properties 1.2% to NZ$702.20, for two-bedroom properties 0.8% to NZ$587.71, and for single-bedroom properties 1.3% to NZ$466.15.In comparison, the average weekly rent for four-bedroom properties in the year-ago period was NZ$839, for three-bedroom properties was NZ$694, for two-bedroom properties was NZ$583, and for single-bedroom properties was NZ$460.The total number of rental properties as of March 31 with five bedrooms was 1,134, those with four bedrooms was 3,857, those with three bedrooms was 7,173, those with two bedrooms was 5,198, and those with a single bedroom was 1,811.In March 2025, the total number of rental properties with five bedrooms was 1,093, those with four bedrooms was 3,610, those with three bedrooms was 6,662, those with two bedrooms was 4,835, and those with only one bedroom was 1,729.

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ASX Midday Sector Update: Real Estate Stocks Marginally Higher, Information Technology Falls

Real estate stocks were marginally higher in midday trading Friday, as all other sectors flashed red amid continued uncertainty surrounding the US-Iran ceasefire and the passage of oil through the Strait of Hormuz.Shares of GPT Group (ASX:GPT) rose less than 1% after the company said it continues to expect full-year 2026 funds from operations of about AU$0.354 per security, representing growth of roughly 4%.Information technology stocks fell 3% to lead broader declines, followed closely by energy stocks, which were down 2%.NOVONIX (ASX:NVX) was up almost 4% after saying the US Government has certified its Riverside project in connection with $103 million in tax credits previously allocated under the Advanced Energy Project Credit Program.

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New Zealand's Fuel Price Driven by Global, Domestic Factors, ANZ Research Says

The fuel price in New Zealand is driven by a mix of global and domestic factors, including the price of crude oil in US dollars, refining margins, international freight, insurance costs, the New Zealand dollar exchange rate, as well as the cost of distributing fuel around the country, and other wholesaler and retailer costs and margins, ANZ Research said in a Friday report.The national weekly average price paid by consumers as of April 3 was NZ$3.41 per liter for petroleum products and NZ$3.53 per liter for diesel.With the closure of the Marsden Point refinery in 2022, New Zealand's fuel supply shifted from importing a mix of crude and refined products to importing refined fuels only. The country's petrol demand has been relatively stable, while diesel demand has been trending higher.The Asian oil refineries that supply New Zealand typically source the bulk of their crude oil from the Persian Gulf.More than 98% of imported petrol in 2025 came from South Korea, Singapore, and Malaysia. Meanwhile, almost 90% of imported diesel and jet fuel in 2025 came from South Korea, Singapore, Japan, and Malaysia.Diesel accounted for 59% of terajoule fuel end use in New Zealand in 2023, with petrol accounting for 41%. Road transport dominates fossil fuel use, followed by the agriculture and construction sectors.

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Sequoia Financial Confirms ASIC's Court Proceedings to Have Receiver Appointed Over Certain InterPrac Property; Shares Down 9%

Sequoia Financial Group (ASX:SEQ) confirmed the Australian Securities and Investments Commission (ASIC) began court proceedings to seek the appointment of a receiver over certain property of InterPrac Financial Planning, namely the guarantees in the ASIC cross deed of guarantee which Sequoia, InterPrac, and the other Sequoia group companies are party, according to a Friday Australian bourse filing.The company plans to divest InterPrac to Conquest Investment Partners. ASIC said on Wednesday that it plans to appoint a receiver to InterPrac to investigate the proposed sale of InterPrac. Sequoia noted that the regulator stated that it has a concern that the proposed sale of InterPrac may adversely affect the interests of InterPrac's creditors. The company said it believes such a concern was unfounded.The court proceeding seeks to secure those guarantees so that the receiver can prepare a report for the regulator as to whether the sale of InterPrac to Conquest announced on March 23 is a "bona fide sale and whether the consideration for the sale is fair and reasonable" within the meaning of the ASIC cross deed of guarantee. The receiver will also report on the financial position and solvency of InterPrac, per the filing.InterPrac will remain a party to the ASIC cross deed of guarantee immediately following the sale of InterPrac to Conquest. Seqouia continues to engage with ASX regarding whether shareholder approval is required for the sale of InterPrac.Sequoia Financial Group's shares tumbled 9% in recent Friday trade.

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NZX Midday Sector Update: Commercial Services Advance, Technology Services Decline

Commercial services shares gained the most on the New Zealand Exchange, rising 1% by midday Friday.PGG Wrightson (NZE:PGW) gained more than 1% in recent trade.Meanwhile, technology services shares fell past 2%.Westpac Banking (NZE:WBC, ASX:WBC) was down almost 4% in recent trade.

Australia Dwelling Approvals Up in February, Final ABS Data Shows

Seasonally adjusted data revealed that the total number of dwellings approved in Australia rose nearly 30% to 19,022 in February from 14,669 in the previous month, according to final figures released Friday by the Australian Bureau of Statistics (ABS).The final figures were unchanged from the preliminary data.Private sector housing approvals inched up 0.2% to 9,847 in February, while approvals for private sector dwellings excluding houses rose past 101% to 8,922, according to the ABS data.Meanwhile, the value of total non-residential building approvals fell 4.4% to AU$7.93 billion, and the value of total residential building approvals rose roughly 31% to AU$12.5 billion.

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AMP to Embrace AI Opportunity, Accelerate Wealth Business Growth

AMP (ASX:AMP) CEO Blair Vernon has outlined three near-term priorities for the company, including speeding up growth in its wealth businesses, reaping more benefits from artificial intelligence, and a greater focus on capital allocation and organizational efficiency, according to a Friday filing with the Australian bourse.The company plans to push for organic growth in its wealth division through customer acquisition and retention, as well as by expanding its adviser partnerships.It will also embrace the AI opportunity, an area where "no business can afford to sit on the sidelines," Vernon said."AI has been part of our business for nearly three years, and we need to continue to move fast to meet the accelerating pace of change," the executive said.He added that AMP Bank will place a greater emphasis on optimizing its balance sheet to release additional capital for shareholders.AMP shares gained 2% in recent Friday trading.

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Equities1d ago

Beetaloo Energy Australia to Raise AU$66.3 Million Via Institutional Placement, Shares Tumble 16%

Beetaloo Energy Australia (ASX:BTL) secured binding commitments from existing and new institutional and sophisticated investors for a AU$66.3 million single-tranche placement at AU$0.28 per share, according to a Friday Australian bourse filing.Beetaloo will issue a total of 236.8 million new shares under the placement, and its directors have committed to subscribe for 1.5 million new shares, subject to shareholder approval. The new shares will be issued under the firm's existing placement capacity.It also plans to launch a non-underwritten share purchase plan to raise up to AU$5 million to provide eligible shareholders an opportunity to participate at the same price as the placement, subject to shareholder approval.It also upsized a AU$45 million Midstream Infrastructure Facility with Macquarie Bank from AU$30 million. The firm will issue an additional 25 million options to Macquarie with an exercise price of AU$0.35 per share and expiry date of Dec. 31, 2029.It plans to use the funds for the completion of Carpentaria Gas Plant works and continuation of flow testing at Carpentaria-5H, among other things.Its shares fell 16% in recent trading on Friday.

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Aurum Resources Says Ivory Coast Project Mineral Resource Estimate Rises 34%; Shares Up 3%

Aurum Resources (ASX:AUE) said the total mineral resource estimate (MRE) for its Napie project in the Ivory Coast rose 34% to 1.2 million ounces of gold at 1.2 grams per tonne (g/t) grade of gold, bringing the company's group resource base to 4.2 million ounces of gold, according to a Friday filing with the Australian bourse.The Napie project's previous MRE stood at 868,000 ounces of gold at a grade of 1.2 g/t, an earlier filing showed.Further resource growth potential is expected from the ongoing Boundiali and Napie diamond drilling programs, per the filing.Shares rose 3% in morning trade Friday.

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Woodside's Shares Fall 1% Even as Occidental Reports Oil Discovery at US Prospect

Woodside Energy Group's (ASX:WDS) shares fell past 1% in recent trading on Friday after Occidental said late on Thursday that an oil discovery had been made at the Bandit prospect in the Gulf of America, south of the coast of Louisiana.The exploration well encountered high-quality, full-to-base oil-bearing Miocene sands, Occidental said.Woodside Energy holds a 17.5% stake in the Bandit prospect, while Occidental holds a 45.375% working interest and is the operator. The co-owners, which also includes Chevron USA, are evaluating the results to determine next steps.

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South Korean Shares Open Higher Ahead of US-Iran Ceasefire Talks in Islamabad

South Korean shares started the trading day on a higher note on Friday as Iran and the US gear up for ceasefire talks in Pakistan's Islamabad later in the day.The benchmark Korea Composite Stock Price Index, or Kospi, rose 98.11 points or 1.69% to open at 5,876.12. The KOSDAQ also increased 13.14 points or 1.22% to start trading at 1,089.14.Iran continues to tighten control over the Strait of Hormuz, requiring vessels to seek transit permission, while US President Donald Trump warned against imposing tolls on oil tankers.Tehran accused the US of breaching the ceasefire agreement by allowing Israel's attacks on Lebanon, which the White House refuted. Meanwhile, the US is planning to host talks aimed at securing a Lebanon-Israel truce.Israel's Prime Minister Benjamin Netanyahu said Israel seeks direct talks with Lebanon on disarming Tehran-backed Hezbollah and enforcing peace ties, adding that no ceasefire is in place. Lebanese officials said no formal invitation for talks has been received and stressed there will be "no negotiations under fire."

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Alkane Resources Falls After Earn-In Joint Venture With Nagambie Resources Clears Approvals

Alkane Resources (ASX:ALK) shares were down more than 1% in recent Friday trading after Nagambie Resources (ASX:NAG) said Thursday its earn-in joint venture with Alkane unit Mandalay Resources Costerfield Operations has obtained all required approvals.Shares of Nagambie Resources, meanwhile, were flat.As part of the deal, Alkane will subscribe for about 166.7 million Nagambie shares at AU$0.015 each for total cash consideration of AU$2.5 million.The transaction includes a 12-month option period that has now commenced, under which Alkane can elect to undertake sole‑funded exploration, evaluation activities and related studies over Nagambie's mining license MIN 5412 and exploration license EL 5511.Under the deal's earn-in structure, and based on Alkane's sole-funded decision, Alkane will own either a 60% interest or 80% interest in the two licenses, with Nagambie retaining the remainder.

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