Asia and Africa’s Winners and Losers

DUBAI, UAE – Media OutReach Newswire – 15 May 2025 – A 24% crash in Brent crude prices, a 13% drop in Asian bitumen costs, and a 30% surge in Vietnam’s demand—since Donald Trump’s sweeping trade tariffs took effect on April 2, 2025, the global bitumen market has been thrust into unprecedented volatility. Infinity Galaxy, a UAE-based leader in bitumen market analysis and supply, provides critical insights into how these shifts are reshaping opportunities for suppliers and buyers across Asia and Africa.

Crude Collapse Reshapes Asia’s Bitumen Trade
Amid fears of a global recession, Brent crude oil prices dropped from around $79 to $60 per barrel from February to mid-April 2025, a decrease greater than 24%.

Simultaneously, the Singapore HSFO 180cst, the main index for Asian bitumen pricing, fell from $450/t to $390/t, down 13%. As a result, the bulk bitumen prices in Singapore dropped from around $450/t to below $400/t.

In South Korea, bitumen prices decreased from about $425/t to $395/t.

Southeast Asia experienced major changes. Vietnam boosted its bitumen consumption by up to 30% due to large-scale infrastructure and road projects. Bitumen consumption in Vietnam is expected to exceed 1.2 million tons in 2025.

In contrast, China and India saw weaker demand. In China, the yuan’s depreciation, construction slowdown, and the onset of a trade war with the US reduced domestic consumption. Also, reports mentioned China exporting bitumen to neighboring countries, further contributing to price declines across East Asia.

Tariffs Opened Africa’s Gates
The shutdown of South Africa’s “Natref refinery” brought domestic production to zero, making the country fully dependent on imports.

As a result, bitumen imports from the Middle East to South Africa surged by more than 25% during March and April 2025.

Europe’s Prices Light Dip Amid Global Shocks
Europe saw a milder decline in bitumen prices. Mediterranean bitumen prices fluctuated between $410/t and $450/t. European buyers experienced only minor changes, with most bulk deals closing at a $10 to $15 discount compared to prices before Trump’s tariff announcement.

Global Bitumen Market’s Shifts
Clear changes emerged in export routes. South Korea’s bitumen exports to Vietnam increased by about 20% in recent months, while Singapore’s market share in Vietnam declined from around 55% last year to below 45%.

On the demand side, African and Asian buyers benefited from increased supply options. Consequently, offered prices at some East African ports dropped by up to 10%, and payment terms became more favorable.

As these conditions persist, the global bitumen market is expected to undergo further volatility and adjustments throughout 2025.
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Following the record-breaking success of Stage 1, Mirah Investment & Development is thrilled to announce the official launch of Stage 2 sales for FINNS Bali Resort — the island’s most anticipated resort.

BALI, INDONESIA – Media OutReach Newswire – 15 May 2025 – Located on the in the ultra-hip Berawa region in Bali, and developed in partnership with Bali’s iconic hospitality brand, FINNS Bali, this resort brings together luxury accommodation, world-class facilities, and premium investment opportunities in a one-of-a-kind setting.

Stage 1 has sold out of 88 units, making it one of the top selling developments with its launch only a few months earlier. Stage 2 continues that momentum, driven by lifestyle-focused buyers and seasoned investors eager to be part of the FINNS Bali legacy drawing strong interest from both local and international investors. With construction moving swiftly, Stage 2 now offers a limited release of suites for those who missed out on the initial launch.

Set on a prime 1.7-hectare site in Berawa, FINNS Bali Resort is a lifestyle-driven destination offering 274 hotel suites with a full spectrum of facilities for wellness, sports, recreation, family, and entertainment. Guests and owners will enjoy exclusive access to FINNS Beach Club, FINNS VIP Beach Club, and the soon-to-launch Empire Day & Night Club — a hospitality lineup unmatched anywhere else in Bali. It is set to become one of the leading holiday destinations in Bali.

A launch event was held to celebrate the Stage 2 opening, attended by industry leaders, investors, and stakeholders from FINNS Bali and Mirah Investment & Development. The evening was hosted at FINNS’ Monsoon with drinks and entertainment continuing at FINNS VIP Beach Club.

Owners will enjoy a range of exclusive privileges, including complimentary stays, preferred rates at FINNS venues, and strong passive returns generated through the resort’s operations — all backed by the unmatched performance history of the FINNS brand. Owners will be part of an exclusive owner’s community with lifestyle benefits accessible immediately. An offering unmatched on the island and with a cash annual value of around US$10,000.

Elliot Sheehan, International Sales Director, of Mirah Investment & Development has said, “we are blown away by the demand for [FINNS Bali Resort], although it should be of no surprise. The speed of sales reflects just how strong the demand is for premium, lifestyle-led investments in Bali.”

With limited availability, interested buyers are encouraged to contact the sales team at Mirah Investment & Development. For more information or to book a private consultation, visit mirahdevelopments.com or contact sales@mirahdevelopments.com

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Mirah Investment & Development

As Bali’s leading property developer , Mirah Investment & Development are well established as the market leader with years of experience in bringing luxury developments to the most sought-after locations across the Indonesian archipelago. An extensive in-house team of locals and expatriates offer end-to-end services from architecture and design to professional property management as well as legal, taxation and immigration support.

BEIJING, CHINA – Media OutReach Newswire – 14 May 2025 – The National Centre for the Performing Arts (NCPA) in Beijing on Tuesday welcomed Peng Liyuan, wife of Chinese President Xi Jinping, and Rosangela Lula da Silva, wife of Brazilian President Luiz Inacio Lula da Silva, as CGTN reported.

Rosangela is accompanying the Brazilian president on his state visit to China.

Peng and Rosangela appreciated the centre’s interior architecture and viewed “Stage of Glory,” an exhibition on the achievements of the NCPA, which has played a major role in China-Brazil and China-Latin America cultural and people-to-people exchanges in recent years.

They also learned about the work of the NCPA in promoting international cultural exchange and art popularization. For example, in 2023, the NCPA launched its artists’ first South American cultural exchange tour in Brazil and Argentina. In 2024, a special concert was held at the NCPA to celebrate the 50th anniversary of the establishment of diplomatic relations between China and Brazil.

Noting that both China and Brazil are major cultural countries, Peng said that people-to-people and cultural exchange between the two sides has been active in recent years, and that mutual understanding and friendship between the peoples of the two countries have deepened.

In recent years, China and Brazil have collaborated on a range of cultural exchange initiatives, including the China-Latin America Cultural Festival and film programs among BRICS nations.

Brazilian cultural icons, such as adorable capybaras, bossa nova music, samba dance and capoeira, have gained widespread popularity in China. Meanwhile, traditional Chinese celebrations like the Spring Festival and cultural treasures such as traditional Chinese medicine are becoming increasingly familiar and appreciated in Brazil.

In 2022, the City of Rio de Janeiro designated September 28 – widely recognized as Confucius’ birthday – as Mandarin Day, reflecting the deepening cultural ties between China and Brazil. Additionally, in the state of Rio de Janeiro, the Spring Festival, or Chinese New Year, has been officially recognized as a public holiday.

Bilateral cultural and people-to-people exchanges between China and Brazil were further strengthened in 2024 as the two countries celebrated the 50th anniversary of diplomatic relations.

Marking the occasion, they signed an agreement to issue 10-year multiple-entry visas for their citizens in January, facilitating business, tourism and family visits, and boosting economic and commercial ties. In April, Air China also resumed its Beijing-Madrid-Sao Paulo route, enhancing connectivity between the two nations.

A total of 76,000 Chinese tourists visited Brazil in 2024, an increase of 79 percent compared to 2023, according to Embratur, also known as the Brazilian Tourist Board.

Next year, the China-Brazil Year of Culture will be held to enhance bilateral cooperation in fields such as culture, education, tourism and media and to facilitate personnel exchanges between the two countries.

Looking ahead, Peng expressed the hope that both sides will maintain this good momentum and bring the two peoples closer.

Appreciating Peng’s arrangements, Rosangela spoke highly of China’s development and splendid culture. She also expressed her willingness to actively promote people-to-people and cultural exchanges between the two countries, and to continue contributing to the deepening of friendship between Brazil and China.

https://news.cgtn.com/news/2025-05-13/Peng-Liyuan-Rosangela-visit-National-Center-for-Performing-Arts-1DlErzF0RlC/p.html
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