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Indonesia agrees deal with Apple that could end iPhone sales ban: reports
Indonesia has struck a deal with Apple for the tech giant to invest in the country, local media reported a minister as saying Wednesday, in a move that could end a ban on iPhone 16 sales in Southeast Asia's biggest economy. The MoU allows for the revoking of the iPhone 16 sales ban under certain conditions, according to the reports.
Hong Kong to slash public spending, build AI institute
Hong Kong will cut public spending and restore fiscal balance by mid-2027 after a string of huge deficits, the city's finance chief said Wednesday as he unveiled growth plans including an artificial intelligence institute.
Most Asian markets rebound as Hong Kong tech rally resumes
Asian markets mostly rose on Wednesday after a poor start to the week, with Hong Kong boosted by a rebound in tech firms that had taken a hit from US moves to curb Chinese investments in the country.
Under pressure, EU to take axe to green rules
The EU is expected to roll back a slew of environmental rules on Wednesday as it charges ahead with a deregulation drive in a bid to keep up with the United States and China. Climate groups oppose paring back the rules.
Shunned by US, Europe courts India over trade and security
The EU's top team is to embark on an "unprecedented" visit to India this week, as the bloc seeks to broaden its commercial and diplomatic ties to hedge against souring relations with the United States. The trip is the latest sign of a Brussels push to diversify ties away from the United States and position itself as a reliable partner for others looking to do business.
BP to unveil strategy shakeup amid energy transition
British energy giant BP is set Wednesday to announce a shakeup to its strategy after a difficult trading year and as countries transition to cleaner energy. Last year, BP announced it would "significantly reduce" investment in renewable energy through the end of the decade.
Nauru sells citizenship to fund climate change mitigation
Pacific microstate Nauru is selling citizenship to fund its retreat from rising seas, President David Adeang told AFP, opening a contentious "golden passport" scheme as other climate financing runs dry. - Golden passports - Existing climate funding efforts are "not sufficient" to address the challenge, said Edward Clark, who runs Nauru's new Economic and Climate Resilience Citizenship Program.
Leading rare earths miner sees profits fall as prices sag
One of the world's largest rare earths producers outside China reported slumping net profits Wednesday, pointing to a "challenging" market for the hard-to-source metals used in renewable energy technologies. It bills itself as the "world's only significant producer of separated rare earth materials outside China".
US to probe need for tariffs on copper imports
Donald Trump ordered an investigation Tuesday into possible levies on US copper imports, with officials citing a need to rebuild domestic production and safeguard national security -- the latest salvo of the president's tariff threats. Trump on Tuesday signed an executive order tasking his commerce secretary with studying copper imports in order to end unfair trade.
AFP
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