investment

Feb. 22 (Asia Today) — Major Japanese newspapers welcomed a U.S. Supreme Court ruling that struck down President Donald Trump’s reciprocal tariffs as illegal, but they diverged on whether Tokyo should reconsider its large-scale investment in the United States.

The court ruled Thursday that Trump’s tariffs imposed under the International Emergency Economic Powers Act violated Congress’s constitutional authority to levy taxes. As a result, Japan’s 15% reciprocal tariff lost its legal effect.

Trump, however, invoked Section 122 of the Trade Act and issued an executive order imposing an additional 10% tariff on all imports beginning Monday.

The conservative Yomiuri Shimbun said the ruling effectively curbed the “weaponization” of tariffs and could force Trump to recalibrate his deal-focused diplomacy. Citing Edward Fishman of the Council on Foreign Relations, the paper said using emergency economic powers to impose tariffs has now become “virtually impossible.”

The conservative Sankei Shimbun also welcomed the decision as a check on indiscriminate high tariffs on allies. However, it warned of “new turbulence” in U.S.-Japan trade ties as Trump moves forward with fresh duties under other trade provisions.

In a Feb. 22 editorial, Sankei urged the government of Prime Minister Sanae Takaichi to safeguard national interests at a planned summit in March. The paper called for reaffirming Japan’s $550 billion investment package in the United States, preventing additional unfavorable conditions and clarifying tariff refund procedures for Japanese firms.

William Cho, deputy director for Japan at the Hudson Institute, told Sankei in an interview that renegotiating the investment agreement in light of the court ruling would be unwise, describing projects such as natural gas power generation as both economic and political in nature.

By contrast, the liberal Asahi Shimbun characterized the ruling as a victory for the separation of powers, saying even a conservative Supreme Court had reaffirmed constitutional limits on executive authority. The paper urged Trump to withdraw tariff measures immediately and restore free trade principles, while calling on Tokyo to review the $550 billion investment deal.

The Mainichi Shimbun criticized what it described as Trump’s expansive legal interpretation of presidential authority and warned that continued reliance on Section 122 could undermine the premise of Japan’s 80 trillion yen investment plan.

Despite differing views on investment policy, the four major dailies – Yomiuri, Sankei, Asahi and Mainichi – described the ruling as a welcome brake on high tariffs.

On investment strategy, however, the dominant view expressed by Yomiuri and Sankei favors maintaining and managing U.S. investments in line with national interests, a stance that mirrors the Japanese government’s position.

Economy, Trade and Industry Minister Ryosei Akazawa recently reaffirmed that there is no change to the $550 billion investment agreement during talks with U.S. Commerce Secretary Howard Lutnick. A government official also said Japan’s overall investment plan remains intact.

With Takaichi planning a March visit to Washington and Trump expected to visit China around the same time, Japanese media are closely watching how Tokyo balances national interests within the evolving U.S.-Japan-China dynamic.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260222010006426

Global Finance has named the 27th annual World’s Best Investment Banks in an exclusive report to be published in the April 2026 print and digital editions, as well as online at GFMag.com. 

Goldman Sachs has been chosen as the Best Investment Bank in the World for 2026.

This year, for the first time, Global Finance has chosen Sector Award Winners by Region where outstanding organizations deserved recognition

“The investment banking sector remains resilient with selective deal-making strength and advisory growth, even as it grapples with persistent macroeconomic headwinds, regulatory scrutiny, and evolving market conditions that are reshaping how firms compete and innovate,” said Joseph D. Giarraputo, founder and editorial director of Global Finance. “The 2026 World’s Best Investment Bank honorees are the organizations that best serve their clients by pairing trusted advice and global reach with innovation and disciplined execution, while setting the standard for excellence, resilience, and leadership across the global investment banking landscape.” 

Winners will be honored at Global Finance’s 2026 Investment Bank and Sustainable Finance Awards Ceremony on April 21st in London at Landing 42.

Global Finance editors, with input from industry experts, used a series of criteria to score and select winners, based on a proprietary algorithm. These criteria include: entries from banks, market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings, and market reputation. Deals announced or completed in 2025 were considered.

For editorial information please contact: Andrea Fiano, editor, email: afiano@gfmag.com
###

About Global Finance

Global Finance, founded in 1987, has a circulation of 50,000 readers in 185 countries, territories and districts. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 38 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.

Logo Use Rights 

To obtain rights to use the Global Finance Investment Bank Awards 2026 logo or any other Global Finance logos, please contact Chris Giarraputo at: chris@gfmag.com. The unauthorized use of Global Finance logos is strictly prohibited.

Feb. 13 (Asia Today) — South Korea’s government maintained its assessment for a fourth straight month that the economy is on a recovery track, citing strong semiconductor-led exports and a gradual improvement in consumption, while warning that weak employment growth and sluggish investment remain key challenges.

The Ministry of Economy and Finance said in its February “Recent Economic Trends” report that “the recovery trend appears to be continuing,” repeating wording it has used since November.

Exports rise, consumption edges up

January exports, based on customs-clearance data, rose 33.9% from a year earlier, the report said. Average daily exports increased 14.0%. Semiconductor shipments more than doubled, up 103%, while computers, wireless communications devices and automobiles also posted gains.

South Korea recorded a trade surplus of $8.74 billion, or about 12.6 trillion won ($8.7 billion), extending the surplus streak to 12 consecutive months, the report said.

The ministry cautioned that export growth remains concentrated in a limited number of items, including semiconductors, leaving the trend vulnerable to shifts in the global technology cycle and changes in U.S. trade policy.

On the domestic side, December retail sales rose 0.9% from the previous month. Fourth-quarter private consumption, based on preliminary gross domestic product data, rose 0.3% from the prior quarter.

The consumer sentiment index came in at 110.8 in January, above the 100 baseline, up 1.0 point from the previous month. Domestic credit card approvals rose 4.7% from a year earlier in January, supporting signs of a modest pickup in spending.

Hiring slows, capital spending stays weak

Employment growth slowed in January, with the number of employed people rising 108,000 from a year earlier, down from a 168,000 increase in the previous month. The unemployment rate rose 0.4 percentage points to 4.1%.

Jobs growth was led by sectors such as health and social welfare and transportation and warehousing, while hiring difficulties persisted in weaker areas such as construction, the report said.

Investment indicators remained mixed. Facility investment fell 3.6% in December from the previous month, dragged down by reduced spending on transportation equipment. Facility investment also fell 1.8% in the fourth quarter from the prior quarter, though some leading indicators, including machinery orders, improved.

Construction output rose 12.1% in December from the prior month, but construction investment fell 3.9% for the fourth quarter. A decline in building permit area was cited as a potential headwind.

Inflation cools to 2.0%

Consumer inflation rose 2.0% in January from a year earlier, easing from 2.3% in the prior month, the report said. Core inflation, excluding food and energy, also rose 2.0%.

The ministry said it will continue macroeconomic support and efforts to boost consumption, investment and exports, while monitoring risks including tougher tariff conditions among major economies and geopolitical uncertainty.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260213010004994

Elaf fund will finance projects with buy-in from Saudi investors committing $2bn for two airports in Aleppo city.

Syria and Saudi Arabia have signed a major investment package spanning aviation, energy, real estate and telecommunications as Damascus’s new leadership seeks to rebuild after a devastating 14-year civil war.

Syrian Investment Authority chief Talal al-Hilali announced a swath of deals on Saturday, including the development of a new international airport in Aleppo, the launch of a low-cost Syrian-Saudi airline, and a telecommunications project called SilkLink aimed at turning the country into a regional hub.

Saudi Arabia has been a major backer of Syria’s new leaders, who took power after toppling longtime ruler Bashar al-Assad in December 2024, with this latest deal marking the biggest investment since the United States lifted sanctions on the country in December.

Saudi Investment Minister Khalid al-Falih said the newly launched Elaf fund, which aims to finance large-scale projects with participation from Saudi private-sector investors, would commit $2bn (7.5 billion Saudi riyals) to develop two airports in the Syrian city of Aleppo.

Rebuilding Syria’s economy

Abdulsalam Haykal, Syria’s minister of communications and information technology, said his country will see nearly $1bn in investment in the telecommunications sector, with plans to lay thousands of kilometres of cable to boost connectivity between Asia and Europe.

Saudi budget carrier Flynas and the Syrian Civil Aviation Authority announced they signed an agreement to establish a new airline called “Flynas Syria”, which would be 51 percent owned by the Syrian side and is slated to start operations in the fourth quarter of 2026.

Syria’s Ministry of Energy also signed a water agreement with Saudi Arabia’s ACWA Power, which is known for running projects in power generation and desalinated water production plants in the Middle East and beyond.

Al-Hilali said the agreements targeted “vital sectors that impact people’s lives and form essential pillars for rebuilding the Syrian economy”.

Tom Barrack, the US envoy to Syria, commended the Saudi-Syrian deal on X. “Strategic partnerships in aviation, infrastructure, and telecommunications will contribute meaningfully to Syria’s reconstruction efforts,” he said.

But Benjamin Feve, senior research analyst at Karam Shaar advisory, sounded a more cautious note, saying the deals mattered “far more as a political signal than as an economic game changer” in the short term.

The government has faced criticism over the past year for making broad development promises based on written pledges with foreign investors, many of which have yet to be converted into binding contracts.

Caracas, February 6, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez held meetings with oil executives from Repsol (Spain) and Maurel & Prom (France) on Wednesday as part of ongoing efforts to secure energy investments amid US pressure and unilateral sanctions.

“We discussed the models established in the reformed Hydrocarbon Law to strengthen production and build solid alliances toward economic growth,” Rodríguez wrote on social media.

State oil company PDVSA, represented at the meetings by its president, Héctor Obregón, touted the prospects of establishing “strategic alliances” and “win-win cooperation” with the foreign multinational corporations. 

The Rodríguez administration recently pushed a sweeping reform of Venezuela’s Hydrocarbon Law. Corporations are set to have increased control over crude extraction and exports, while the Venezuelan executive can discretionally reduce taxes and royalties and lease out oil projects in exchange for a cut of production.

Venezuelan leaders have defended the pro-business reform as a step forward to attract investment for a key industry that has been hard hit by US coercive measures, including financial sanctions and an export embargo, since 2017, as part of efforts to strangle the Venezuelan economy and bring about regime change.

Former President Hugo Chávez had overhauled oil legislation in 2001 to reestablish the state’s primacy over the sector with mandatory majority stakes in joint ventures, increased fiscal contributions, and a leading PDVSA operational role. Increased revenues financed the Bolivarian government’s aggressive social programs of the 2000s, which dramatically reduced poverty and expanded access to healthcare, housing, and education for the popular classes. 

Repsol and Maurel & Prom currently hold stakes in several oil and natural gas joint ventures in the South American country. The two firms, as well as Italy’s Eni, have operated in a stop-start fashion in recent years as a result of US sanctions. 

The European companies have consistently lobbied for increased control and benefits in their projects in the molds now established in the reformed energy legislation.

Since launching military attacks and kidnapping Venezuelan President Nicolás Maduro on January 3, the Trump administration has vowed to take control of the Venezuelan oil sector and impose favorable conditions for US corporations. Senior US officials have praised Caracas’ oil reform.

According to reports, the White House has dictated that proceeds from Venezuelan crude sales be deposited in US-run accounts in Qatar, with an initial agreement comprising 30-50 million barrels of oil that had built up in Venezuelan storage as a result of a US naval blockade since December.

On Tuesday, the US Treasury Department issued a license allowing Venezuelan imports of US diluents required to upgrade extra-heavy crude into exportable blends. On January 27, Washington issued a sanctions waiver allowing US companies to purchase and market Venezuelan crude. The exemption requires payments to be made to US-controlled accounts and bars dealings with firms from Russia, Iran, Cuba, and North Korea.

The US Treasury is additionally preparing a license to allow US companies to extract Venezuelan oil, according to Bloomberg.

The White House has urged US corporations to invest in the Venezuelan oil sector and promised favorable conditions. However, executives have expressed reservations over significant new investments. According to Reuters, US refiners have likewise not been able to absorb the sudden surge of Venezuelan heavy crude supplies, while Canadian WCS crude remains a competitive alternative. 

Vitol and Trafigura, two commodities traders picked by the White House to lift Venezuelan oil, have offered cargoes to European and Asian customers as well. India’s Reliance Industries is reportedly set to purchase 2 million barrels. In recent years, the refining giant has looked to Venezuela as a potential crude supplier but seen imports repeatedly curtailed by US threats of secondary sanctions.

US authorities have reportedly delivered US $500 million from an initial sale to Venezuelan private banks, which are offering the foreign currency in auctions that are said to prioritize private sector food and healthcare importers. Nevertheless, Venezuelan and US officials have not disclosed details about the remaining funds in a deal estimated at $1.2-2 billion.

Besides controlling crude sales, the Trump administration has also sought to impose conditions on the Venezuelan government’s spending of oil revenues. On Tuesday, US Treasury Secretary Scott Bessent told House Representatives that the flow of oil funds will be subject to outside audits. 

US Secretary of State Marco Rubio had told a Senate committee last week that US authorities would scrutinize Caracas’ public expenditure and claimed that Venezuelan leaders needed to submit a “budget request” in order to access the country’s oil proceeds.

Washington’s attempted takeover of the Venezuelan oil industry also has an expressed goal of reducing the presence of Russian and Chinese companies. On Thursday, Russian Foreign Minister Sergei Lavrov told media that the country’s enterprises are being “openly forced out” of the Caribbean nation at the behest of the US.

In mid-January, the US’ naval blockade drove away Chinese-flagged tankers on their way to Venezuela. With crude shipments partly used to offset longterm oil-for-loan agreements, Beijing has reportedly sought assurances of the repayment of debts estimated at $10-20 billion. For their part, independent Chinese refiners have moved to replace Venezuelan supplies with Iranian heavy crude.

Feb. 1 (Asia Today) — South Korea’s efforts to head off a proposed 25% U.S. tariff increase stalled after trade talks in Washington ended without agreement, prompting the auto industry to accelerate investment plans in the United States.

Trade, Industry and Energy Minister Kim Jeong-kwan returned to South Korea after two days of discussions with U.S. Commerce Secretary Howard Lutnick on President Donald Trump’s proposed reciprocal tariff hike. The talks, held Wednesday and Thursday in Washington, concluded without concrete results, the ministry said.

During the meetings, Kim stressed that South Korean companies were prepared to expand U.S. investment and said the government was coordinating with the National Assembly to swiftly pass a special law aimed at supporting large-scale Korean investment in the United States.

The proposed legislation is intended to reduce uncertainty for Korean firms and institutionalize strategic economic cooperation between the two countries. Seoul argued that the bill would boost U.S. job creation and economic growth.

U.S. officials, however, reportedly questioned whether the Korean government’s position would translate into concrete action, signaling that legislative intent alone would not be sufficient.

The stalled talks have heightened concerns in South Korea’s auto industry. Hyundai Motor Group, a major exporter to the U.S., is expected to adjust its existing investment strategy to accelerate the pace of spending.

Hyundai Motor President José Muñoz told The Wall Street Journal on Friday that he believes President Trump understands Hyundai’s commitment to the U.S. market and said the company is focused on speeding up its investment plans.

Hyundai previously announced plans to invest $26 billion (about 37.7 trillion won) in the United States by 2030, with a goal of locally producing 80% of the vehicles it sells there.

Industry analysts expect uncertainty surrounding the proposed tariff hike to continue until at least mid-March, as South Korea’s National Assembly plans to process the U.S. investment bill in late February or early March.

Democratic Party policy chief Han Jeong-ae said the bill would first be reviewed by the National Assembly’s finance and economy committee, adding that passage is likely within that timeframe.

The Trump administration has previously indicated it would not discuss tariff reductions until the legislation is approved, suggesting that negotiations on easing the proposed 25% tariff may resume only after the bill’s passage.

Some experts described the tariff threat as a temporary pressure tactic. Kim Pil-soo, a professor of automotive engineering at Daelim University, said the move appears aimed at showcasing policy achievements ahead of U.S. midterm elections, adding that continued investment and passage of the bill could eventually lead to a resolution.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260201010000191

Gold has risen more than 20% since the start of the year, surpassing the significant $5,500 milestone this week.

The precious metal’s rally, seen alongside a lift in commodities such as silver and platinum, is driven by a number of interlinking factors — including geopolitical tensions, rising government debt, and an uncertain outlook for interest rates and inflation.

Gold’s appeal is linked to the narrative that it is a safe haven asset, acting as a “hedge against inflation”. It typically increases in value when the dollar declines, it’s easily sold, and it’s also a tangible, finite commodity.

These factors are significant at a time when questions are being raised about the dollar, as well as fiat currencies like the Japanese yen. As government debt rises, so do fears around inflation and fiscal stability.

In the US, incendiary policies from the Trump administration are increasing market jitters around the health of the economy, prompting what some analysts view as a “sell America” trade. In recent weeks, the president has threatened to conquer Greenland, hinted at US intervention in Iran, sought to influence policy at the Federal Reserve, and launched an attack on Venezuela. To top that off, he’s also threatened more tariffs on trading partners, bringing back a well-worn tactic from 2025.

Although analysts argue that the dollar will not be unseated as the world’s reserve currency anytime soon, it seems investors are diversifying away from the greenback. The US’ next moves remain uncertain, and no one wants to be caught in the crosshairs. As an alternative to fiat currencies, gold may seem like a strong portfolio option.

“Investors previously bought US Treasuries as they were viewed as being quite risk-free. But especially because of the way that some wealth has been weaponised, certain countries are becoming more careful about how they allocate their capital,” said Simon Popple, managing director at Brookville Capital. “The dollar debasement helps the gold price,” he told Euronews.

Even so, Popple and other analysts stress that a major factor lifting the bullion price is far less complicated. As gold continues to make headlines, investors are caught up in the momentum, sparking a buying frenzy.

“People are naturally drawn to things they see moving and they’ve seen gold have an astonishing rally,” said Chris Beauchamp, chief market analyst at IG. “It’s bound to lead to an ignition of interest.”

He added that while gold has beneficial investment properties, the metal’s ability to hold its value is overstated, particularly in the short term. Gold’s position in the market notably shifted after former US president Richard Nixon decided to end direct dollar convertibility to gold in 1971. Put simply, countries no longer fixed their currencies to a specified amount of the precious metal.

“The gold standard is still invoked to suggest the metal is some kind of totemic asset we should have because it’s a fixed store of value. It’s not,” concluded Beauchamp.

Kenneth Lamont, a principal in Morningstar’s Manager Research Department, reiterated this message, also drawing comparisons between gold and crypto. While both are limited in supply, they are both “incredibly volatile”, he stressed.

“If you’re using either crypto or gold to buy something, it might be 30% less from one day to the next. It’s not actually a good store of value in the short term.”

While gold is much more established than bitcoin, and it has historically performed well over the long term, analysts stress that the unpredictability of both assets means the death knell is not yet ringing for fiat currencies.

Whether bullion’s price will continue to climb in the immediate future is a guessing game. Even so, given the precarious nature of global politics, it seems the metal may still have further to run.

Jan. 28 (Asia Today) — South Korea’s opposition People Power Party and the ruling Democratic Party traded accusations Wednesday over U.S. President Donald Trump’s remarks about restoring higher tariffs, with conservatives faulting the government’s diplomacy and liberals arguing Seoul must move quickly to pass pending legislation tied to a bilateral investment package.

The dispute unfolded at a National Assembly Foreign Affairs and Unification Committee hearing, where Foreign Minister Cho Hyun faced questions about what the opposition described as a sudden reversal after the government promoted a tariff outcome that did not require a formal agreement document.

People Power Party floor leader Song Eon-seok said the public had been led to believe tariffs would remain lower once legislation related to U.S.-bound investment was introduced and processed. He said Trump’s renewed tariff warnings felt like a betrayal to many South Koreans and criticized the government for opposing parliamentary ratification procedures, arguing major commitments should be handled through proper legislative channels.

Several People Power Party lawmakers pressed the government over the effectiveness of its communication channel with Washington, mocking earlier claims that a high-level “hotline” had been established and questioning whether Seoul had meaningful leverage if tariff threats resurfaced so quickly.

Rep. Ahn Cheol-soo said the government’s claim that negotiations were so successful they did not require a joint statement was not credible. He argued that if talks had been truly successful, the two sides would have presented the outcome publicly through a joint briefing.

Ruling party lawmakers countered that Trump’s unpredictability is well known and that repeated focus on ratification could slow Seoul’s ability to respond diplomatically and economically. They urged swift deliberation and passage of a special bill tied to U.S. investment commitments, saying similar memorandums and fact sheets with partners are often handled without full treaty-style ratification.

The dispute comes as South Korea moves to implement a bilateral memorandum and related measures that had been linked to tariff levels, while Seoul says it has not received an official U.S. notice of any change.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260129010013250