Latest news with #TrafiguraGroup
GMA Network
3 days ago
- Business
- GMA Network
40 PH companies in Fortune Southeast Asia 500 list
Forty companies from the Philippines were included in the Fortune Southeast Asia 500 list for 2025, which ranks the 500 biggest companies in the region based on their revenues, at the average exchange rate during the year. According to Fortune, the latest list shows a snapshot of a region that it described as 'ready to take advantage' of shifts in the global supply chain, and booming industries such as mining, electric vehicles, and artificial intelligence. This year's list was topped for the second straight year by Singapore-headquartered Trafigura Group with $243.201 billion. It was followed by Thailand's PTT with $87.635 billion, Indonesia's Pertamina with $75.327 billion, and Singapore-based Wilmar International with $67.379 billion, and Olam Group with $42.028 billion. Revenue and profit figures for the companies reporting in their local currency were converted to US dollars at the average exchange rate during each company's fiscal year, with the minimum revenue threshold set at $349.4 million. The collective companies on the 2025 list recorded $1.82 trillion in revenue in 2024, higher than the $1.79 trillion in 2023. 'Together, the Southeast Asia 500 companies are playing an increasingly important role in global supply chains — capturing manufacturing capacity from shifting from China, which is drawing significant capital flows and reshaping global trade dynamics,' Fortune said. Below is a list of the Philippine companies included in the list: — RSJ, GMA Integrated News
Bloomberg
02-05-2025
- Business
- Bloomberg
Traders Draw Down LME Copper Stocks as Chinese Market Tightens
Traders including Trafigura Group and Mercuria Energy Group Ltd. are drawing down stocks of copper on the London Metal Exchange, as strong Chinese buying tightens the market for the bellwether metal despite fears of recession. Trafigura was behind a major part of the just over 20,000 tons requested for withdrawal on Friday, according to people familiar with the matter who asked not to be named as the information isn't public. The orders cut available inventories of copper on the LME in Asia to the lowest in a year.
Bloomberg
14-04-2025
- Business
- Bloomberg
Billionaire Economou Seeks to Replace Trafigura As Partner in Italy's Top Oil Refinery
The main investor in Italy's biggest oil refinery is sounding out trading firms to replace Trafigura Group as the plant's supply partner. Greek shipping billionaire George Economou, the main investor in a fund that controls the owner of ISAB Srl, is exploring potential tie-ups with alternative oil traders, according to people familiar with the matter, who asked not to be named because the talks are private.
Bloomberg
31-03-2025
- Business
- Bloomberg
Trafigura Agrees to Pay Brazil $49 Million Over Bribery Scandal
Trafigura Group agreed to pay Brazil's government $49 million after last year admitting to paying bribes to win business in the nation. The payment will be made through its former Dutch holding company, Trafigura Beheer BV, and closes investigations by Brazil's authorities into the commodity trading powerhouse, the company said in a statement Monday.
Bloomberg
26-03-2025
- Business
- Bloomberg
Trafigura Starts Review of Ailing Australian Smelting Assets
Trafigura Group has launched a strategic review of its struggling Nyrstar zinc and lead smelting assets in Australia, with Chief Executive Officer Richard Holtum calling for government intervention. 'Smelting capacity is a national security issue and therefore there probably needs to be significant government support for it,' Holtum, who became Trafigura CEO at the start of this year, said at the Financial Times Commodities Global Summit in Lausanne, Switzerland.
