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☆ Asian stocks slump to 11-mth lows as higher-for-longer rate fears persist
▼ + stars: | 2023-10-26 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

Australian shares fell to a one-year low, as stronger-than-expected third-quarter inflation data raised bets that the central bank might raise rates next month. In the currency markets, the dollar index hit a two-week high of 106.77. By 0300 GMT the yen was trading at a one-year low of 150.43 per dollar. The Australian dollar fell to an almost one-year low of $0.6271 in morning trade. The New Zealand dollar also hit a nearly one-year low at $0.5776.

Persons: Androniki, Ben Luk, Seng, Brent, Gold, Xie Yu, Simon Cameron, Moore Organizations: Nikkei, REUTERS, Japan's Nikkei, Treasury, Multi, State Street Global, U.S, New Zealand, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, China, Hong Kong, Europe

[1/2] Hong Kong Chief Executive John Lee delivers his annual policy address at the Legislative Council in Hong Kong, China October 25, 2023. Chief Executive John Lee said Hong Kong's economy, which contracted 3.5 percent last year, would "resume growth this year" as inbound tourism and consumption improved, and unemployment fell. Hong Kong's economy grew 2.2% in the first half of the year, and is expected to grow four percent this year. "External forces continue to meddle in Hong Kong affairs," he said, without giving specifics or naming any country. Some Western governments have criticised the ongoing national security clamp down, which has led to the imprisonment of many opposition democrats and closure of liberal media outlets.

Persons: John Lee, Tyrone Siu, Hong, Lee, Hong Kong's, Clare Jim, Twinnie Siu, Jessie Pang, Donny Kwok, James Pomfret, Simon Cameron, Moore Organizations: Hong, Legislative, REUTERS, Tyrone, U.S, Thomson Locations: Hong Kong, China, HONG KONG, Hong

☆ Frail yen grazes 150 again as anxiety mounts over Middle East
▼ + stars: | 2023-10-23 | by ( Vidya Ranganathan | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. U.S. Treasuries were subdued as investors hunkered down for a European Central Bank meeting and U.S. GDP data later in the week. "Potentially there are two camps out fighting around 150, so that's why dollar-yen doesn't move from here," Yamamoto said. While there was some speculation the BOJ might once again tweak its yield-curve policy band at a scheduled policy review next week, the BOJ had also shown it will not let domestic yields rise sharply, he said. Yields dipped on Friday after the BOJ announced more loans to encourage financial institutions to buy JGBs.

Persons: Florence Lo, Jerome Powell, Masafumi Yamamoto, Yamamoto, Sean Callow, Shri Navaratnam, Simon Cameron, Moore Organizations: U.S, REUTERS, Rights, Hamas, United, European Central Bank, Bank of Japan, Mizuho Securities, Westpac, Brent, ECB, Reuters, Thomson Locations: Rights SINGAPORE, Asia, Gaza, United States, U.S, Tokyo, East

☆ In northeast China, Russian and Chinese firms ink deals from manufacturing to agriculture
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a meeting at the Belt and Road Forum in Beijing, China, October 18, 2023. Sputnik/Sergei Guneev/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - Chinese and Russian companies attending a regional conference in northeastern China signed a raft of cooperation deals on Monday in sectors ranging from manufacturing and logistics to e-commerce and agriculture, Chinese state media reported. The conference in Shenyang, the capital of Liaoning province, followed last week's meeting in Beijing between Russian President Vladimir Putin and China's President Xi Jinping. Russian local government officials, business representatives as well as nearly 800 Chinese companies hoping to enter the Russian market were attending the conference. In January to September, 40 Russian firms set up businesses in Liaoning, China's national broadcaster reported on Monday.

Persons: Vladimir Putin, Xi Jinping, Sergei Guneev, Xi, Ryan Woo, Ellen Zhang, Simon Cameron, Moore Organizations: Forum, Sputnik, Rights, West, China's, Chinese, Administration of Customs, Thomson Locations: Beijing, China, Rights BEIJING, Shenyang, Liaoning province, Russia, Ukraine, Liaoning, Heilongjiang, Jilin, Vladivostok, Russian, Zhoushan, Zhejiang

☆ China's Singles Day sales festival wraps up with e-commerce giants reporting sales growth
▼ + stars: | 2023-10-21 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

SHANGHAI, Nov 12 (Reuters) - Alibaba Group (9988.HK) reported that its Chinese e-commerce platforms Tmall and Taobao recorded "positive" year-on-year growth over this year's Singles Day sales period, which wrapped up at midnight on Saturday. Meanwhile competitor JD.com (9618.HK) said its festival GMV (gross merchandising volume) hit a "record high" over the sales period. A Bain and Company report released last week found that 77% of the 3,000 consumers it surveyed had planned to spend less or the same on Singles Day compared with last year. Though several consultancies were predicting Singles Day GMV growth across platforms would reach anywhere from 14% to 18% - returning to double-digit growth for the first time since the pandemic - the final sales picture will take longer to energe. Colour cosmetics, traditionally a strong performer throughout the Singles Day sales period, were expected to struggle this year as make-up demand remains low almost a year after China lifted strict COVID-19 restrictions.

Persons: Taobao, JD.com, Alibaba, Bain, Casey Hall, Simon Cameron, Moore Organizations: Alibaba, HK, PDD Holdings, Company, Nike, Thomson Locations: SHANGHAI, China

☆ Take Five: Another curve ball for markets
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +5 min

The European Central Bank looks set to sit tight after a string of interest rate hikes, while there's a slew of U.S. earnings and Argentina's presidential election. ECB chief economist Philip Lane says the central bank was still "quite some distance" from easing monetary policy. Canada's central bank, meeting on Wednesday, is tipped to leave rates steady as inflation eases. 2 economy, property turmoil threatens China's 5% growth target - even after a consensus-smashing 4.9% quarterly expansion. Milei, surprise victor in the August primary election, has pledged to dollarise the economy and get rid of the central bank.

Persons: Brendan McDermid, Amanda Cooper, Naomi Rovnick, Kevin Buckland, Lewis Krauskopf, Rodrigo Campos, Philip Lane, hasn't, Javier Milei, Sergio Massa, Patricia Bullrich, Vineet Sachdev, Sumanta Sen, Dhara Ranasinghe, Simon Cameron, Moore Organizations: New York Stock Exchange, REUTERS, European Central Bank, Hamas, ECB, Reuters Graphics Reuters, Microsoft, Apple, Nvidia, Tesla, General Motors, Merck, United Parcel Service, Investors, International Monetary, Massa, Thomson Locations: New York City, U.S, London, Tokyo, New York, Israel, Palestinian, Russia, Ukraine, China, Beijing, ARGENTINA, Argentina, Pasir Kongkunakornkul

☆ China ramps up yuan internationalisation under Belt and Road Initiative
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +4 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?

Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt

[1/5] Chinese President Xi Jinping greets Russian President Vladimir Putin as they attend the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su Acquire Licensing RightsBEIJING, Oct 18 (Reuters) - Chinese President Xi Jinping warned against decoupling from China as he opened the Belt and Road Initiative (BRI) forum in Beijing on Wednesday, criticizing Western efforts to reduce dependence on the Chinese economy. The trade disruptions of the pandemic years have also added urgency to the desire to limit their dependence on China. WESTERN SCEPTICISMWestern scepticism of Xi's grand plans stems from suspicions over the way it would extend China's global influence, analysts say. Xi is making the Belt and Road smaller and greener, moving away from big-ticket projects like dams to high-tech ones such as digital finance and e-commerce platforms.

Persons: Xi Jinping, Vladimir Putin, Edgar Su, Xi, Putin, BRI, Viktor Orban, Haji Nooruddin Azizi, Azizi, Xi's, Antoni Slodkowski, Simon Cameron, Moore Organizations: Initiative, of, People, REUTERS, Rights, EU, Washington, Thomson Locations: Beijing, Rights BEIJING, China, Asia, Africa, Europe, Tiananmen, Taiwan, Western Europe, Afghanistan, Northern

☆ SK Hynix denies report about approaching SoftBank on Kioxia merger
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

Memory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration Acquire Licensing RightsSEOUL, Oct 18 (Reuters) - South Korea's SK Hynix Inc (000660.KS), the world's second-largest memory chip maker, said on Wednesday it has not approached Japan's SoftBank Group (9984.T) to partner up in a possible deal with memory chipmaker Kioxia Holdings Corp.A Nikkei report earlier on Wednesday said SK Hynix is reluctant to back a merger between U.S. rival Western Digital's memory chip operations and Kioxia, in which SK Hynix holds a stake. The report went on to say that SK Hynix had sounded out SoftBank for a partnership in case the merger falls through. "SK Hynix denies Nikkei's report that the company approached SoftBank for collaboration with regard to the Kioxia-Western Digital deal," the company said in a statement, without commenting on its stance on the merger. Kioxia and Western Digital Corp (WDC.O) are pursuing a merger as a global chip glut and weak demand for flash memory chips strengthens pressure for chipmakers to consolidate.

Persons: Florence Lo, Japan's, SoftBank, Kioxia, Joyce Lee, Anton, Simon Cameron, Moore, Louise Heavens Organizations: SK Hynix, REUTERS, Rights, Korea's SK Hynix Inc, Japan's SoftBank, Kioxia Holdings Corp, Nikkei, Wednesday, U.S, Western, SoftBank Group, Western Digital Corp, Thomson Locations: Rights SEOUL

[1/5] Chinese President Xi Jinping greets Russian President Vladimir Putin as they attend the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. Putin and other foreign leaders sat with key Chinese officials from the 25-member Politburo on the front row, as Xi delivered his opening speech. The forum centres on the Belt and Road Initiative (BRI), a grand plan launched by Xi in 2013, that envisioned building global infrastructure and energy networks connecting Asia with Africa and Europe through overland and maritime routes. Western scepticism of Xi's grand plans stems from suspicions over the way it would extend China's global influence, analysts say. Xi is pushing to make the Belt and Road smaller and greener, moving away from big-ticket projects like dams to high-tech ones such as digital finance and e-commerce platforms.

Persons: Xi Jinping, Vladimir Putin, Edgar Su, Xi, Putin, BRI, Viktor Orban, Haji Nooruddin Azizi, Antoni Slodkowski, Simon Cameron, Moore Organizations: Initiative, of, People, REUTERS, Rights, Forum, EU, Washington, Thomson Locations: Beijing, Rights BEIJING, Tiananmen, Asia, Africa, Europe, China, Western Europe, United States, Ukraine

☆ Indonesian President's Son Among 'Strongest VP Candidates' for Prabowo - Party Official
▼ + stars: | 2023-10-17 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

JAKARTA (Reuters) - The eldest son of Indonesian President Joko Widodo is among the "strongest" potential running mates for Prabowo Subianto, a retired general who is a leading contender in next year's presidential election, a party official said on Tuesday. "Gibran is certainly one of the strongest candidates for Prabowo's VP... especially, after the Constitutional Court approved the petition that made him eligible to run," said Andre Rosiade, an official at Prabowo's Gerindra party. Besides Gibran, the shortlist of running mates for Prabowo includes East Java Governor Khofifah Indar Parawansa and State-owned Enterprises Minister Erick Thohir, he added. The same seven parties have agreed to back Gibran for Prabowo's vice president, according to a report in news portal Katadata citing an alliance party official. Candidates and their running mates are expected to register with the election commission between Oct 19-25.

Persons: Joko Widodo, Prabowo Subianto, Gibran Rakabuming Raka, Critics, Jokowi, Prabowo, Gibran, Andre Rosiade, Khofifah Indar, Erick Thohir, Andre said, Ananda Teresia, Kanupriya Kapoor, Simon Cameron, Moore Organizations: Prabowo, East Java, Reuters Locations: JAKARTA, Surakarta, State, Prabowo's

☆ Exclusive: China tells banks to roll over local government debts as risks mount - sources
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +6 min

Local government debt reached 92 trillion yuan ($12.58 trillion), or 76% of the country's economic output in 2022, up from 62.2% in 2019. Reuters is reporting these measures for banks to defuse local debt risks for the first time. Banks are being encouraged to issue new loans to LGFVs to repay bonds and non-standard debt, the sources said. And, Chinese investors are rushing to buy bonds of LGFVs, including from the riskiest issuers, as Beijing's attempts to reduce local debt risks encourages them to bet on an implicit government guarantee. Over 2.1 trillion yuan LGFV bonds matured in the first half of 2023, and another 1.75 trillion yuan in the second half of this year and 1.69 trillion yuan in the first half of 2024, the highest maturity pressure in history, the note said.

Persons: Tyrone Siu, ”, National Financial Regulatory Administration didn't, Banks, CLIFF LGFVs, LGFVs, Simon Cameron, Moore, Kim Coghill Organizations: AIA Central, China Construction Bank, Bank of China, Cheung, Cheung Kong Centre, HSBC, Standard Chartered Bank, REUTERS, Rights, People's Bank of China, Reuters, Treasury, National Financial Regulatory Administration, Communist Party, ANZ Research, UBS, Financial, Beijing, Shanghai, Thomson Locations: Cheung Kong, Hong Kong, China, Rights BEIJING, Beijing, Tianjin, Guizhou, Guangxi

☆ Putin visits 'dear friend' Xi in show of no-limits partnership
▼ + stars: | 2023-10-17 | by ( Ryan Woo | ) www.reuters.com time to read: +4 min

[1/3] Russia's President Vladimir Putin arrives at Beijing Capital International Airport to attend the Third Belt and Road Forum in Beijing, China, October 17, 2023. Xi last saw his "dear friend" in Moscow just days after the warrant was issued. At the time, Xi invited Putin to attend the third Belt and Road forum in Beijing, an international cooperation forum championed by the Chinese leader. As the forum's chief guest, Putin will speak after Xi on Wednesday and will meet with the Chinese president for bilateral talks later that day. It would be Putin's third attendance of the Belt and Road Forum, which runs through Wednesday.

Persons: Vladimir Putin, Parker, Xi Jinping, Putin, Wang Wentao, Xi, Ryan Woo, Lidia Kelly, Christopher Cushing, Simon Cameron, Moore Organizations: Beijing Capital International Airport, Forum, REUTERS Acquire, Rights, Court, ICC, Reuters, Chinese Commerce, Kremlin, Beijing, Olympics, Rosneft, Gazprom, Thomson Locations: Beijing, China, Rights BEIJING, Ukraine, Hague, Soviet Union, Kyrgyzstan, Soviet, Moscow, Vietnam, Thailand, Mongolia, Laos, Russia, Asia, Africa, Europe, Putin's, Melbourne

☆ Drug retailer Rite Aid files for bankruptcy amid rising debt, opioid litigation
▼ + stars: | 2023-10-16 | by ( Abinaya V | ) www.reuters.com time to read: +2 min

A woman shops inside a Rite Aid store underneath a DeepCam security camera in New York City, New York, U.S., June 25, 2020. Rite Aid, which began as a thrift shop in 1962, became the third largest U.S. chain of drugstores in less than two decades with more than 2,000 retail stores in 17 states. Rite Aid had a total debt of $8.60 billion as of June 3, according to a filing with the U.S. Bankruptcy Court for the District of New Jersey, some of which is due in 2025. It said it will transfer employees at underperforming stores that would be closed to other locations where possible. Rite Aid joins several companies, including Mallinckrodt, that have filed for bankruptcy due to lawsuits over the U.S. opioid crisis.

Persons: Lucas Jackson, Jeffrey Stein, Elizabeth Burr, Leroy Leo, Abinaya Vijayaraghavan, Mariam Sunny, Simon Cameron, Moore, Arun Koyyur Organizations: REUTERS, Rite, U.S, Bankruptcy, District of, Aid, Thomson Locations: New York City , New York, U.S, United States, District of New Jersey, Bengaluru

Reuters reported in July that Indian refiners began using yuan to pay for some oil from Russian sellers, while continuing to use dollars and dirhams to settle most of their Russian oil purchases. Indian refiners buy most of their Russian oil from traders, while making some direct purchases from Russian entities. State-run Indian Oil Corp (IOC.NS), the country's top refiner, has used yuan and other currencies to pay for Russian oil, Reuters reported previously. Private Indian refiners have continued to pay in yuan and other currencies for Russian oil imports, sources said, with most Indian purchases of Russian oil paid in dirham. Indian Oil, BPCL and HPCL and the country's oil and finance ministries did not immediately respond to Reuters' requests for comments.

Persons: Tatiana Meel, Nidhi Verma, Tony Munroe, Simon Cameron, Moore Organizations: REUTERS, European Union, Reuters, Gazprom Neft, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, DELHI, India, Moscow, Ukraine, United States, dirhams, Gazprom, dirham, Hong Kong, China

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTAIPEI, Oct 13 (Reuters) - Taiwan's TSMC (2330.TW) said on Friday it expects to receive permission from the United States to supply its China plant with U.S. chipmaking tools indefinitely, in an easing of Washington's restrictions on foreign chipmakers operating in China. "We expect to receive a permanent authorization through the VEU process," TSMC said, noting that it did not previously need to apply for VEU status. Taiwan Economy Minister Wang Mei-hua said earlier on Friday that TSMC has received the waiver from the United States to supply U.S. equipment to the company's factory in China. However, the United States is continuing efforts to cut China off from top AI technology and plug gaps in export controls. The United States last year shook relations with Beijing when it unveiled new restrictions on shipments of AI chips and chipmaking tools to China, seeking to thwart its military advances.

Persons: Dado Ruvic, TSMC, Wang Mei, Biden, chipmaker, Sarah Wu, Ben Blanchard, Sonali Paul, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, The U.S . Department of Commerce's, of Industry and Security, Reuters, Taiwan, Samsung Electronics, SK Hynix, Apple Inc, United, TSMC's, Thomson Locations: Rights TAIPEI, United States, China, The, KS, Nanjing, Beijing, TSMC's Taipei

☆ Sri Lanka president to visit China as debt talks progress - source
▼ + stars: | 2023-10-13 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCOLOMBO, Oct 13 (Reuters) - Sri Lankan President Ranil Wickremesinghe will visit China next week as the crisis-hit country makes progress on debt restructuring talks with its biggest lender, a source in his office told Reuters on Friday. The Sri Lankan leader could also meet China's finance and foreign ministers, the source added. The president's media office and Sri Lankan foreign ministry did not immediately respond to requests for comment. Sri Lanka owes Chinese lenders - bilateral and commercial - around $7 billion. Sri Lanka needs to reach agreements with creditors to push forward its first review of the IMF programme, which will release a second tranche of about $334 million.

Persons: Ranil Wickremesinghe, Brendan McDermid, Wickremesinghe, Xi Jinping, Xi, Uditha Jayasinghe, Simon Cameron, Moore Organizations: Sri, General Assembly, REUTERS, Rights, Monetary Fund, Forum, China's, Export, Import Bank of China, IMF, Thomson Locations: New York City, U.S, Sri, China, Beijing, Lankan, Sri Lanka, Japan, India

☆ Country Garden founding family provides $300 mln loan, selling jet - report
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Oct 13 (Reuters) - The founding family of Country Garden (2007.HK) recently loaned the embattled Chinese property developer $300 million interest free, and the family was also trying to sell its private jet, a Chinese online news outlet, The Paper, reported on Friday. Another online news outlet, Cailianshe, reported earlier that founder Yeung Kwok Keung had already sold a new jet and was trying to sell another. Country Garden declined to comment. Country Garden's 30-day grace periods to make the missed coupon payments will start expiring next week.

Persons: Aly, Yeung Kwok Keung, Yeung, Mo Bin, Yang Huiyan, Clare Jim, Simon Cameron, Moore Organizations: Shanghai Country Garden, REUTERS, HK, Thomson Locations: Shanghai, China, HONG KONG, Shunde, Guangdong province

☆ Malaysia says Goldman Sachs suit 'premature' amid dispute over 1MDB settlement
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Olivia Harris/File Photo Acquire Licensing RightsKUALA LUMPUR, Oct 12 (Reuters) - A Malaysian government task force said on Thursday it viewed Goldman Sachs' (GS.N) filing of arbitration proceedings as premature, after the firm sued Malaysia in a British court this week amid an escalating dispute over a 2020 settlement deal. Goldman Sachs in 2020 had agreed to pay $3.9 billion to settle Malaysia's criminal probe over its role in the multi-billion dollar 1MDB corruption scandal. Malayia's 1MDB task force said Goldman Sachs had requested an extension on a Nov. 8 deadline for discussions to settle the dispute. Goldman Sachs lodged its suit less than two months after Malaysian Prime Minister Anwar Ibrahim threatened to take the company to court. Goldman had helped 1MDB raise $6.5 billion in two bond offerings, earning itself $600 million in fees, according to the U.S. Justice Department.

Persons: Olivia Harris, Goldman Sachs, Goldman, Malayia's, Johari Abdul Ghani, Johari, Anwar Ibrahim, Rozanna Latiff, Martin Petty, Simon Cameron, Moore Organizations: Development, Exchange, REUTERS, Malaysia, Malaysian, U.S . Justice Department, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Malaysian, U.S

☆ Explainer: Goldman Sachs and its role in the multi-billion dollar 1MDB scandal
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +5 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. 1MDB was a sovereign fund set up in 2009 with the help of Malaysian financier Jho Low to promote economic development. The United States has said the 1MDB case was its largest ever kleptocracy investigation. Low, a fugitive, has been charged in Malaysia and the United States over his central role in the case. Goldman has been investigated by regulators in at least 14 countries for its role in underwriting the 1MDB bond issues.

Persons: Goldman Sachs, Andrew Kelly, Najib Razak, Goldman, 1MDB, Jho Low, Najib, Low, GOLDMAN, Tim Leissner, Roger Ng, Goldman's, Anwar Ibrahim, Simon Cameron, Moore Organizations: New York Stock Exchange, REUTERS, Goldman Sachs, Malaysia, Malaysian, 1Malaysia, U.S . Department of Justice, The United, DoJ, United Malays National Organisation, GOLDMAN, London Court, Thomson Locations: New York City , New York, U.S, KUALA LUMPUR, The United States, Malaysia, United States, China, Beijing, MALAYSIA, Malaysian

☆ Australian billionaire Gina Rinehart accumulates 19.9% stake in Albemarle target Liontown
▼ + stars: | 2023-10-11 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +1 min

Gina Rinehart poses in Western Australia in this undated handout photo obtained January 23, 2018. Hancock Prospecting/Handout via REUTERS/File Photo Acquire Licensing RightsSYDNEY, Oct 11 (Reuters) - Australian billionaire Gina Rinehart has taken a 19.9% stake in lithium miner Liontown Resources (LTR.AX), her company Hancock Prospecting said on Wednesday, potentially hindering a takeover bid launched by U.S. mining giant Albemarle Corp (ALB.N). Hancock has steadily built its stake since September, when Albemarle Corp lodged its bid for Liontown. The U.S. miner needs 75% support from Liontown investors who vote on the deal to succeed with its bid. Under Australian takeover rules, a single shareholder must declare its intention if its stake moves above 19.9%.

Persons: Gina Rinehart, Hancock, Albemarle's, Scott Murdoch, Jacqueline Wong, Simon Cameron, Moore Organizations: REUTERS, Rights, Corp, Albemarle Corp, Liontown, Australian, Thomson Locations: Western Australia, U.S, Albemarle

☆ Paraguay's biggest prison set ablaze, rioting inmates take guards hostage
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

[1/5] Police stand outside the Tacumbu penitentiary during a riot after inmates took hostage a dozen officials and caused a fire, in Asuncion, Paraguay October 10, 2023. REUTERS/Cesar Olmedo Acquire Licensing RightsASUNCION, Oct 10 (Reuters) - Inmates at Paraguay's largest prison rioted on Tuesday, taking 11 guards hostage and setting fire to facilities in the crowded Tacumbu penitentiary on the outskirts of the capital. Two hostages were later released as government and military forces responded to the revolt, according to Interior Minister Enrique Riera. Tacumbu houses nearly 4,000 inmates in a ramshackle, tin-roof building and, according to local security experts, gangs exert near-total influence over life inside. Interior Minister Riera said Paraguay would push for prison reform once the riot was quelled.

Persons: Cesar Olmedo, Enrique Riera, Riera, Daniela Desantis, Kylie Madry, Simon Cameron, Moore Organizations: Police, REUTERS, Rights, Thomson Locations: Asuncion, Paraguay, Rights ASUNCION

☆ Former Hamas chief calls for protests, neighbours to join war against Israel
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

Hamas leader Khaled Meshaal gestures as he announces a new policy document in Doha, Qatar, May 1, 2017. REUTERS/Naseem Zeitoon/File Photo Acquire Licensing RightsDOHA, Oct 11 (Reuters) - Former Hamas chief Khaled Meshaal called for protests across the Muslim world on Friday in support of the Palestinians and for the peoples of neighbouring countries to join the fight against Israel. This is a moment of truth and the borders are close to you, you all know your responsibility," Meshaal said. On Saturday, Hamas gunmen from the Gaza Strip rampaged through parts of southern Israel, in the deadliest Palestinian militant attack in Israel's history. "To all scholars who teach jihad... to all who teach and learn, this is a moment for the application (of theories)," Meshaal said.

Persons: Khaled Meshaal, Naseem Zeitoon, Meshaal, Jordan, Andrew Mills, Aziz El Yaakoubi, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Rights, Hamas, Israel, Reuters, Thomson Locations: Doha, Qatar, Jordan, Syria, Lebanon, Egypt, Israel, Gaza

[1/5] China's and Hong Kong's flags are seen on the pedestrian footbridge as decorations for the celebration of National Day, at the financial central district in Hong Kong, China October 3, 2023. "The last few years have created a very negative image of Hong Kong," said Inaki Amate, chairman of the European chamber in Hong Kong, one of the speakers at the M+ event. Executives point to the changing fabric of Hong Kong with mainlanders making up more than nine-out-of-ten of all those approved to work under government talent schemes. "If we believe that Hong Kong will be able to recover its most international Asia city status by continuing on this trend, we are very wrong," said Amate. “You’ve got what happened with the national security law, the pandemic and now you’ve got a pretty big problem with China’s economy.

Persons: Tyrone Siu, Inaki Amate, Paul Chan, haven’t, ”, Tara Joseph, “ You’ve, you’ve, Hong, Robert Walters, Patrick Ip, David Baverez, Baverez, Dorothy Kam, Scott Murdoch, Simon Cameron, Moore Organizations: REUTERS, Tyrone, European Union, Hong, Monetary, American Chamber of Commerce, Colliers, Companies, National Bank Australia, ASEAN Investment Cooperation, COVID ., COVID . Asia Pacific, Thomson Locations: Hong Kong, China, HONG KONG, Hong, British, Asia, Singapore, Dubai, COVID, COVID . Asia, Europe, “

☆ Another quake strikes western Afghanistan; official says more homes destroyed
▼ + stars: | 2023-10-11 | by ( Mohammad Yunus Yawar | ) www.reuters.com time to read: +3 min

[1/4] A general view of the quake-hit area in the district of Zinda Jan, in Herat, Afghanistan October 10, 2023. There were no details on casualties so far, disaster management spokesman Janan Sayeeq told Reuters, but provincial officials said hundreds of homes had been destroyed. Hemmed in by mountains, Afghanistan has a history of strong earthquakes, many in the rugged Hindu Kush region bordering Pakistan. Herat province borders Iran, which said it would send humanitarian aid. The United Nation's humanitarian office has also announced $5 million worth of assistance.

Persons: Zinda Jan, Ali Khara, Janan Sayeeq, Noor Ahmad Shahab, Shahab, Mohammad Yunus Yawar, Mrinmay Dey, Gibran Peshimam, Jacqueline Wong, Simon Cameron, Moore, Miral Organizations: REUTERS, Rights, Reuters, Mobile, World Health Organisation, German Research Center, Geosciences, United, Thomson Locations: Zinda, Herat, Afghanistan, Rights KABUL, Pakistan, Iran, Rubat, Turkey, China, Kabul, Bengaluru

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