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The euro is attempting a modest recovery, with EUR/USD rising to 1.1589 and moving back above its short-term moving averages, offering an early signal of returning bullish momentum. And although the pair remains within a broader consolidation range, momentum indicators have begun to improve — raising the prospect that the euro may be preparing for a breakout attempt in the coming days.   Technical outlook: bullish momentum rebuilding gradually   Price action shows a slight but meaningful shift:   The rise above the 15-day moving average at 1.1574 and the 20-day moving average at 1.1561 signals a short-term bullish turn.…

The euro is attempting a modest recovery, with EUR/USD rising to 1.1589 and moving back above its short-term moving averages, offering an early signal of returning bullish momentum. And although the pair remains within a broader consolidation range, momentum indicators have begun to improve — raising the prospect that the euro may be preparing for a breakout attempt in the coming days.   Technical outlook: bullish momentum rebuilding gradually   Price action shows a slight but meaningful shift:   The rise above the 15-day moving average at 1.1574 and the 20-day moving average at 1.1561 signals a short-term bullish turn.…

Heavy monsoon rains have pummelled Indonesia’s Sumatra island over the past week, causing widespread flooding and landslides, and leaving at least 72 dead with hundreds more missing.Villagers and residential areas were swept away or buried by mudslides, affecting more than 2,000 homes in North Sumatra, according to Indonesia’s Disaster Management Agency.Some 5,000 people across the province had taken refuge in government shelters, the agency added.On Friday, the agency confirmed 57 deaths in North Sumatra. Six people were also found dead in neighbouring Aceh province, where 11 remained missing, while West Sumatra reported nine fatalities.In the city of Medan, the provincial…

Global ratings agency S&P has downgraded China Vanke, as the troubled developer grapples with mounting debt and fragile cash flow, raising concerns about a renewed liquidity crisis across the country’s real estate industry.S&P on Friday cut Vanke’s long-term issuer rating to CCC- from CCC and likewise lowered the long-term issue rating on senior unsecured notes of its Hong Kong subsidiary, marking the second downgrade for the developer in less than a month.All ratings were placed on CreditWatch with negative implications, it said.“Over the next six months, the company faces a sizeable bond maturity wall while operating cash flow will be…

Hadynyah | E+ | Getty ImagesIn a quarter partially affected by the 50% U.S. tariffs, the Indian economy grew faster than expected at an annual rate of 8.2% in the quarter ending in September.The growth was an acceleration from 7.8% in the previous quarter, when a lower deflator unexpectedly boosted real growth. A deflator measures how inflation affects the value of total output.A Reuters poll of economists had pegged the July-September gross domestic product at 7.3%.India’s nominal GDP — which does not account for inflation or deflation — grew 8.7% in the September quarter compared to 8.8% in the previous…

Indonesia is looking to take a bite out of the lucrative durian trade to China following stronger bilateral cooperation in the sector, according to the Indonesian Durian Plantation Association.Since Indonesia signed a frozen durian export protocol with China’s General Administration of Customs last May, eight local companies have passed the verification process, according to an Antara news agency report on Wednesday.This means that Indonesian producers can export directly to China, bypassing intermediaries such as Thailand and Malaysia.Last year, Indonesia exported 600 tonnes of durian, valued at US$1.8 million, mainly to Thailand and Hong Kong, according to Statistics Indonesia. This figure…

Li Minyong, a prominent medicinal chemist and a fellow of multiple international research societies, died on November 16 at the age of 49.His sudden death marks China’s latest loss of a leading scientist at the height of their research career.Li, a professor and deputy dean of the school of pharmaceutical sciences at Hainan University, dedicated himself to pioneering drug discovery through light-controlled and bioactive visualisation technologies.He was elected a Fellow of Britain’s Royal Society of Chemistry in 2019 and of the Royal Society of Biology in 2021. In 2022, he was elected a Fellow of the International Association of Advanced…

Alex Lee, a Singaporean parent-blogger who has spent years documenting his children’s lives online, recently posted a video of his 12-year-old son opening the results of his Primary School Leaving Examination (PSLE) – a high-stakes test that shapes most pupils’ secondary school paths.In the clip, which has now drawn more than 3 million views, it cuts from his son, Daken, looking at his scores to him in his father’s arms as Lee asks, “Not as good as you expected?”Daken agrees as his father tells him, “But you’ve got to try harder in secondary school, OK?” The video then cuts to…

France hopes to establish a framework for ties between Brussels and Beijing “that serves mutual interests” when President Emmanuel Macron visits China next week, an Elysee Palace source said.“The purpose of [Macron’s] strategic conversation with President Xi Jinping is for Europe to be respected as a major partner of China and not as a variable in tensions,” the source – who chose to remain anonymous, citing professional norms in France – said during a briefing on Thursday.Macron will visit China from Wednesday to Friday next week and will meet Xi in both Beijing and Chengdu, Sichuan, in the southwest of…

Emperor International Holdings has secured bank approval to resume borrowing under existing terms by nearly two years, providing the embattled Hong Kong developer with much-needed breathing room after it failed to meet HK$16.6 billion (US$2.13 billion) in debt obligations in July.Meanwhile, shares of Lai Sun Development (LSD) resumed trading on the Hong Kong stock exchange on Friday, after the firm said it was negotiating a potential asset sale alongside its parent company, Lai Sun Garment (LSG). As of July, LSD reported total borrowings of about HK$25.38 billion.These filings showed the progress made by debt-laden Hong Kong developers in obtaining flexibility…