Category: finance
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Taiwan’s UMC Signs Pact with Polar Semiconductor to Explore U.S. 8-Inch Chip Production
Taiwan-based chipmaker United Microelectronics Corporation (UMC) announced on Thursday that it has entered a memorandum of understanding (MoU) with U.S.-based Polar Semiconductor to explore collaborative manufacturing of 8-inch wafers in the United States. This move highlights growing efforts to expand domestic semiconductor production amid global supply chain shifts and geopolitical concerns. Collaboration to Expand U.S.
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Sterling Steadies After Biggest Daily Jump Since April Amid Upbeat UK Economic Data
The British pound (GBP) held steady against the U.S. dollar on Thursday after surging over 1% the previous day, marking its largest daily gain since April 2025. The rebound was supported by an upward revision to UK business activity data, indicating a more robust economic outlook than previously expected. The pound was last trading marginally
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Dollar Steady Near Five-Week Low as Euro Hits Seven-Week High Amid Fed Rate Speculations
The U.S. dollar remained steady near a five-week low on Thursday, following lackluster economic data that strengthened expectations for a Federal Reserve interest rate cut next week. Meanwhile, the euro surged to a seven-week high, while the yen found temporary relief amid easing intervention concerns. Investors are also keeping an eye on potential leadership changes
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Turkey Extends Russian Gas Contracts, Eyes U.S. Investments to Diversify Energy Mix
Turkey Finalizes One-Year Extension with Russia December 4, 2025 – Istanbul – Turkey has finalized a one-year extension of two expiring natural gas contracts with Russia, covering a combined 22 billion cubic meters (bcm), Energy Minister Alparslan Bayraktar announced. These contracts with Gazprom (GAZP.MM) were due to expire at the end of this year. Despite
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Oil Prices Rise After Ukrainian Attacks on Russian Infrastructure, Peace Talks Stall
Oil Prices Firm Amid Ukraine Strikes and Geopolitical Tensions December 4, 2025 – New Delhi – Oil prices edged higher on Thursday following Ukrainian attacks on Russia’s oil infrastructure, signaling potential supply disruptions, while stalled peace talks limited expectations of a near-term resolution. Brent crude rose 41 cents (0.65%) to $63.08 per barrel, while U.S.
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ExxonMobil to Permanently Shut One Steam Cracker on Singapore’s Jurong Island
ExxonMobil Plans Permanent Shutdown of Steam Cracker Singapore, December 4, 2025 – ExxonMobil (XOM) is set to permanently shut down operations at the older of its two steam crackers on Jurong Island, Singapore, starting in March 2026, according to multiple sources familiar with the matter. The closure is expected to be completed by June 2026
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CIBC Quarterly Profit Rises on Strong Capital Markets Performance
CIBC Reports Higher Quarterly Profit Toronto, December 4, 2025 – The Canadian Imperial Bank of Commerce (CIBC) reported a strong rise in fourth-quarter profits, led by its capital markets division. The bank’s results reflect resilience amid ongoing market volatility and growing activity in trading and investment banking services. The adjusted net income for the quarter
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India Encourages States to Lead Clean Energy Expansion Amid Federal Power Glut
India Supports State-Led Clean Energy Initiatives New Delhi, December 4, 2025 – India’s federal government has confirmed that states will continue to lead the expansion of clean energy projects, even as federal agencies struggle with nearly 50 gigawatts (GW) of unsold renewable power. At a recent Confederation of Indian Industry (CII) event, Santosh Kumar Sarangi,
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China’s State-Owned Banks Buy Dollars to Moderate Yuan Gains
China’s State Banks Intervene to Smooth Yuan Strength December 4, 2025 – Major Chinese state-owned banks have been purchasing U.S. dollars in the onshore spot market in a concerted effort to rein in yuan gains, according to sources with direct knowledge of the matter. The intervention comes as the yuan reached a 14-month high earlier
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Indian Rupee Forwards Surge as Rate-Cut Bets Fade Amid Thin Liquidity
Indian Rupee Forwards Hit Highest Levels Since January Mumbai, December 4, 2025 – The Indian rupee’s forward premiums soared to their highest levels since January, extending a recent rally fueled by waning bets on a Reserve Bank of India (RBI) rate cut and a sharp decline in the spot rupee. Traders cited thin market liquidity
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