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OPEC+ yesterday approved a fresh increase in production, albeit a limited one of 137,000 barrels per day. And although oil prices rose slightly after the announcement, they still remain in a narrow trading range, with Brent crude hovering just above $65 per barrel.   This development carries a two-edged implication. On one side, it is good news for energy-consuming nations — including the United States. On the other, it is bad news for oil producers — including, paradoxically, the US itself.   The Wall Street Journal reported that Saudi Arabia’s strategy to lead the rollback of production cuts amounts to…

DuPont’s long-awaited breakup is finally around the corner. The separation of DuPont ‘s electronics business, now called Qnity Electronics, from the broader company is targeted for Nov. 1. The two will trade independently, starting on Monday, Nov. 3. DuPont shareholders of record as of Oct. 22 will receive Qnity shares at a ratio that has yet to be determined. Qnity’s ticker symbol will be “Q.” The remaining DuPont will continue to trade under the “DD” ticker. This split is a long time coming for DuPont. We’ll save you the details around the 2017 Dow Chemical-DuPont mega merger and subsequent breakup,…

Britain’s domestic spy agency MI5 issued a rare public warning to members of parliament on Monday that they are being targeted by spies from China, Russia and Iran in an attempt to undermine the country’s democracy.The warning comes a week after prosecutors said they had to abandon the trial of two British men charged with spying on members of parliament for China because the British government had not provided evidence showing China was a threat to its national security.MI5 warned politicians and their staff to look out for spies seeking to elicit information from them by blackmail or phishing attacks,…

The US dollar rose gradually on Monday after fears of a renewed escalation in the trade war between the United States and China eased, while political developments in France and Japan weighed on both the euro and the yen.   The dollar index — which measures the performance of the US currency against a basket of six major peers — climbed 0.2% to 99.2, recovering from last week’s losses that followed President Donald Trump’s announcement of 100% tariffs on China.   That announcement revived memories of “Liberation Day” last April, when Trump imposed sweeping tariffs on Chinese imports, triggering a…

The US dollar rose gradually on Monday after fears of a renewed escalation in the trade war between the United States and China eased, while political developments in France and Japan weighed on both the euro and the yen.   The dollar index — which measures the performance of the US currency against a basket of six major peers — climbed 0.2% to 99.2, recovering from last week’s losses that followed President Donald Trump’s announcement of 100% tariffs on China.   That announcement revived memories of “Liberation Day” last April, when Trump imposed sweeping tariffs on Chinese imports, triggering a…

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday began a series of official meetings in Washington DC, focusing on investment and development financing as part of his participation in the annual gatherings of the International Monetary Fund (IMF) and the World Bank. According to a statement issued by the Finance Division, Aurangzeb met with Riccardo Puliti, Regional Vice President of the International Finance Corporation (IFC) for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, to review ongoing collaboration and explore new investment avenues. The minister highlighted Pakistan’s improving macroeconomic indicators and appreciated IFC’s role in scaling…

The US dollar rose gradually on Monday after fears of a renewed escalation in the trade war between the United States and China eased, while political developments in France and Japan weighed on both the euro and the yen.   The dollar index — which measures the performance of the US currency against a basket of six major peers — climbed 0.2% to 99.2, recovering from last week’s losses that followed President Donald Trump’s announcement of 100% tariffs on China.   That announcement revived memories of “Liberation Day” last April, when Trump imposed sweeping tariffs on Chinese imports, triggering a…

VIENNA (AP) — The U.N. nuclear watchdog is pushing Ukraine and Russia to agree to local ceasefires so that external power can be restored to Ukraine’s huge nuclear power plant in Zaporizhzhia, two diplomats familiar with the plan told The Associated Press.The plant is in an area under Russian control since early in Moscow’s full-scale invasion of Ukraine and is not in service, but it needs reliable power to cool its six shutdown reactors and spent fuel, to avoid any catastrophic nuclear incidents. It has been operating on diesel generators since Sept. 23 when its last remaining external power line…

China’s ambassador to Brazil used a keynote speech in São Paulo on Monday to reaffirm Beijing’s support for investment and export certifications aimed at helping South America’s largest economy weather US President Donald Trump’s tariff offensive.Speaking at the opening of the annual Brazil-China Business Council meeting, Ambassador Zhu Qingqiao told business leaders, senior Brazilian officials and diplomats that Beijing was committed to sustainable development and building a “world-class” business environment while jointly tackling challenges posed by an increasingly fractious global trade landscape.In a thinly veiled broadside against the US, the diplomat also warned about “some major powers, obsessed with power…

Alibaba Group Holding chairman Joe Tsai has expressed optimism about US-China trade tensions.“I’m actually quite optimistic that we’re not going to devolve into kind of a race to the bottom”, he said during an interview with CNBC dated October 10 and published on Monday. “The two countries’ leaders have the wisdom to come to a point where they recognise that this is a hugely symbiotic relationship,” he added.Tsai, who owns the Brooklyn Nets basketball team, spoke on the sidelines of an NBA pre-season game.On the subject of the race for dominance in artificial intelligence, Tsai said that “having large adoption…