Category: finance
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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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ADB and World Bank Launch Pacific Islands Projects Under Innovative Cofinancing Model
Asian Development Bank and World Bank Introduce Cofinancing Framework for Pacific Islands Manila, December 4, 2025 – The Asian Development Bank (ADB) and the World Bank have launched two major projects in the Pacific Islands under a first-of-its-kind cofinancing model, designed to streamline lending processes and accelerate project delivery. The launch follows approval of the
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China Streamlines Rare Earth Export Licenses to Boost Trade
China Introduces Streamlined Export Licenses for Rare Earths Beijing, December 4, 2025 – China announced it is issuing streamlined export licenses for rare earth elements, a move aimed at facilitating global trade after easing tensions between the U.S. and China. The announcement, reported by state media Xinhua, follows a high-level meeting between U.S. President Donald
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