International News 29 April 2025
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Oil Prices Rise on Monday (28/4) Morning, Investors Watch for New Trade War Signals
Oil prices began the week stronger, with the price of WTI oil for June 2025 delivery increasing to $63.20 per barrel, up 0.28% from the previous week. The recent rise in oil prices can be attributed to traders taking into consideration the latest signals in the ongoing trade war, as well as waiting for further details on China's strategy to support its economy. Geopolitical developments in Iran are also being taken into account. Additionally, the price of Brent oil rose above $67 per barrel after experiencing a 1.6% decline the previous week. US Treasury Secretary Scott Bessent has confirmed that trade negotiations with several US trading partners, especially those in Asia, are progressing well. In China, officials are expected to announce measures to stabilise employment and ensure economic growth at a press conference.
Saudi Arabia's non-oil exports soar to highest level in history
Saudi Arabia has achieved a record high in non-oil exports, reaching 515 billion riyals ($137.29 billion) by 2024. This is a significant step towards the country's goal of diversifying its economy and reducing its dependence on oil. As part of its Vision 2030 plan, Saudi Arabia has made substantial investments in sectors such as tourism, sports, manufacturing, and infrastructure. The annual growth rate of non-oil exports has been 13%, and has increased by over 113% since the launch of Vision 2030. Abdulrahman Althukair, the head of the Saudi Export Development Authority, has attributed this surge in exports to the ongoing efforts to diversify the national economy. Furthermore, the government has successfully attracted foreign direct investment of 77.6 billion riyals ($20.69 billion) in 2024, as part of its target to reach $100 billion of foreign investment annually by the end of the decade. These achievements are a testament to Saudi Arabia's commitment to fostering a vibrant and diverse economy.
Toyota to acquire Toyota Industries for US$ 42 Billion
Toyota Motor Co has confirmed its plans to explore potential investments, including partial investments, in the planned takeover of Toyota Industries. The estimated transaction value is approximately ¥6 trillion, or US$42 billion. Toyota has disclosed this information to the Tokyo Stock Exchange, stating that it is considering various possibilities, including a partial investment. As reported by Bloomberg News, Akio Toyoda, Chairman of Toyota, and his family, the company's founders, had proposed the acquisition of Toyota Industries through a special purchase scheme. However, Toyota Industries, with a current market value of ¥4 trillion, has denied receiving an official proposal from Akio Toyoda or the Toyota group. The company has acknowledged receiving several proposals for going private through a special purpose company. Anonymous sources have revealed that Toyota Industries is considering partnering with Toyota, its group companies, and major banks to fund the buyout. Analysts have suggested that if Toyota Industries were to become a private company, it could enhance the corporate governance of the Toyota group as a whole.