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US expands list of Chinese technology companies under export controls

The U.S. Commerce Department has expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity list” are nearly all based in China. The revised rules were posted Monday on the website of the U.S. Federal Register for publication later this week.

Associated Press Finance 11 minutes ago

China lifts final trade restrictions on Australian meat processors

China has lifted trade restrictions on two Australian meat processing facilities, allowing the full resumption of red meat exports to the country, the Australian government said on Tuesday. Beijing has now removed restrictions from all 10 Australian abattoirs it banned between 2020 and 2022. The bans were imposed around the time that China blocked imports of commodities including coal, barley and wine from Australia after Canberra called for an independent investigation into the origin of COVID-19.

Speculation Over RBI Chief’s Future Heats Up After GDP Miss

(Bloomberg) -- Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionOne of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gott

Thanks to peace, two unexpected words are echoing across Afghanistan's capital: Luxury housing

In a town that has been through it all and is clawing its way back, a man named Omidullah is looking to hit paydirt. The Kabul real estate agent is selling a nine-bedroom, nine-bath, white-and-gold villa in the Afghan capital. The villa is listed at $450,000, a startling number in a country where more than half of the population relies on humanitarian aid to survive, most Afghans don’t have bank accounts, and mortgages are rare.

Buy ‘Magnificent Seven’ on Corrections, NYU’s Damodaran Says

(Bloomberg) -- The “Magnificent Seven” stocks are a buy during corrections as most of them will keep generating money, according to a New York University professor known for his expertise on valuations.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban Destruction“As a value investor, I have never seen cash machines as lucrative as these companies are,” Aswath Damodaran, a finance professor at NYU’s Stern Schoo

Asian Stocks Take US Tech Curbs on China in Stride: Markets Wrap

(Bloomberg) -- Most Asian shares rose, led by tech firms as new US curbs on Chinese access to vital components for chips and AI proved to be less punitive than feared.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionEquity benchmarks gained in markets from Japan to Australia, while Chinese stocks were under pressure after the yuan fell to a one-year low against the dollar on concerns about a weak e

Indonesia to increase local component requirement for smartphones

Indonesia plans to increase requirements on local components for smartphones made and sold in the country, its deputy industry minister said on Tuesday, a move aimed at boosting the domestic manufacturing sector. The plan follows Indonesia's banning last month of sales of Apple's iPhone 16 after it failed to meet a requirement that smartphones sold domestically must comprise at least 40% locally-made parts.

DBS Hires Private Bankers for Rich Russians as Rivals Balk

(Bloomberg) -- DBS Group Holdings Ltd. has beefed up its wealth management team to cater to rich Russians at a time when many global rivals are staying away from the business amid concerns over widening sanction risks.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionSingapore’s biggest lender hired two people in recent months, expanding the number of Russian-speaking private bankers in the city-sta

China Needs New Clean Tech Investments After Wind and Solar Boom

(Bloomberg) -- China needs to boost investment in a new generation of clean energy technology including storage, hydrogen and sustainable aviation fuel, according to executives speaking at the BloombergNEF Summit in Shanghai.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionHuge funding for renewables and electric vehicles has already put the country on the cusp of peaking emissions years before its

Stock market today: Asian shares rise after tech stocks pull Wall Street to another record

Asian shares mostly rose Tuesday, after technology stocks pulled Wall Street to another record finish. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Tokyo Electron issues surged 4.4%.

Fuel oil smuggling network rakes in $1 billion for Iran and its proxies

A sophisticated fuel oil smuggling network that some experts believe generates at least $1 billion a year for Iran and its proxies has flourished in Iraq since Prime Minister Mohammed Shia al-Sudani took office in 2022, five sources with knowledge of the matter told Reuters. The operation exploits a government policy under which Iraq allocates fuel oil to asphalt plants at heavily subsidised prices and involves a network of companies, groups and individuals in Iraq, Iran and Gulf states, according to the five people and three Western intelligence reports, two from August this year and one which was undated.