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On July 3, South Korea’s deputy prime minister and finance minister said the government will push major firms to invest over 312 tln won (~$204bn) in the southeast (Yeongnam) region to develop advanced manufacturing and AI. SK Group, Samsung, Hanwha

2026-07-03

On July 3, South Korea’s deputy prime minister and finance minister said the government will push major firms to invest over 312 tln won (~$204bn) in the southeast (Yeongnam) region to develop advanced manufacturing and AI. SK Group, Samsung, Hanwha and Hyundai Motor plans roughly 140 tln, 60 tln, 55 tln and 42 tln won targeting, semiconductors, AI and aerospace respectively; LG and Doosan are also expected to follow. The announcement includes a national space strategy centered on Sacheon to build a southern coastal space industry belt.

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2026-07-03

S&P Global euro-area services PMI rose to 49.4 in June from 47.7 in May, still in contraction for a third month but above the 48.9 estimate, signaling a slower pace of decline and a rapid drop in cost pressures that helped stabilize output after two

S&P Global euro-area services PMI rose to 49.4 in June from 47.7 in May, still in contraction for a third month but above the 48.9 estimate, signaling a slower pace of decline and a rapid drop in cost pressures that helped stabilize output after two months of contraction. Oil fell for a third session after Qatar said talks between Iran and the US over the Strait of Hormuz had made progress, easing supply-disruption concerns. S&P Global Market Intelligence chief business economist Chris Williamson said the easing in services weakness, together with manufacturing growth, indicates the economy has stabilized and that energy-driven inf pressures since the outbreak of the Middle East war cooled markedly in June.
2026-07-02

One of Texas's Oldest Oil Fields is Nearing Depletion: An assessment by the U.S. Geological Survey (USGS) indicates that the Buda oil reservoir in Texas is nearing depletion, with only 12 million barrels of technically recoverable crude oil and 184 b

One of Texas's Oldest Oil Fields is Nearing Depletion: An assessment by the U.S. Geological Survey (USGS) indicates that the Buda oil reservoir in Texas is nearing depletion, with only 12 million barrels of technically recoverable crude oil and 184 billion cubic feet of natural gas remaining. However, the Eagle Ford shale continues to maintain stable production. In the 12 months ending March 2026, total oil and gas production in the Eagle Ford region increased by 2.2% year-on-year, with daily production remaining stable at 2.36 million to 2.46 million barrels of oil equivalent. It is gradually shifting from a "oil-dominated" development model to a "stable oil and increasing gas" model. Leveraging its location near the Gulf Coast, its natural gas cost advantage, and an active M&A market, the Eagle Ford will remain a significant growth engine for the U.S. shale oil and gas industry.
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