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Oil prices surges more than 2% as Middle East turmoil roils markets

Brent crude was up $2.28, or 2.7%, to $86.86 a barrel by 0859 GMT, while U.S. West Texas Intermediate crude was at $85.23 a barrel, up $2.44 or nearly 3%

Gold rises more than 1% as Middle East conflict spurs safe-haven demand

Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when gunmen from Hamas rampaged through Israeli town

India watching military conflict in Middle East closely, says Hardeep Puri

"The place where action is taking place is in many respects the centre of global energy... as we go along we will navigate through this," Puri told reporters at an industry event in New Delhi

Adani Ports stock drops 4.5% on Haifa port worries over Israel conflict

Adani Ports is closely monitoring the conflict in Israel and is prepared with a business continuity plan, the company said in a statement

OPEC raises oil demand view in long term, says $14 trn of investment needed

Another decade or more of rising consumption would be a boost for OPEC, whose 13 members depend on oil income

HPCL aims to cut diesel purchase from other cos following output boost

Vizag refinery will operate at 13.5 mtpa capacity in the current fiscal year and at full capacity of 15 mtpa in the next fiscal, Bharathan said

Citigroup to sell China's consumer wealth business worth $3.6 bn to HSBC

The deal covers total deposits and investment AUMs of about $3.6 billion, and is expected to close in the first half of 2024. Financial details of the transaction were not disclosed

Attack on Israel may boost appeal of gold, safe haven assets, say analysts

The Hamas attack was openly praised by Iran and by Hezbollah, Iran's Lebanese allies

Israel stock and bond markets sink, businesses shut after Hamas attack

Gaza militants also fired thousands of rockets into Israel, some reaching as far as Tel Aviv, prompting airlines to suspend flights to and from Israel

Norris Medicines recalls toxic cough syrups, says only sold in India

Tests by India's Central Drugs Standard Control Organisation showed the medicines were contaminated either with diethylene glycol or ethylene glycol

Mukesh Ambani's Reliance Retail Ventures to raise $598 million from ADIA

The investment by ADIA at a valuation of $100.8 billion will translate into a stake of 0.59% in company, the retail unit of oil-to-retail conglomerate Reliance Industries said in a regulatory filing

Exxon Mobil nears $60 bn acquisition of shale driller Pioneer Natural

The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998

ChatGPT-owner OpenAI is exploring making its own AI chips: Report

CEO Sam Altman has made the acquisition of more AI chips a top priority for the company. He has publicly complained about the scarcity of graphics processing units, a market dominated by Nvidia

Gold price slides as dollar, treasury yields rise after strong jobs data

Benchmark Treasury yields edged higher and the dollar index rose 0.4%, denting appeal for gold

Crude oil prices hold steady, Russia rolls back diesel export ban

On Friday, Brent futures were down 11 cents, or 0.13%, at $83.96 at 1203 GMT, while U.S. West Texas Intermediate crude futures were down 13 cents, or 0.16%, at $82.18

US unemployment rate unchanged at 3.8%, job growth beats Sept expectations

Nonfarm payrolls increased by 336,000 jobs last month, the Labor Department said in its closely watched employment report on Friday

Rate-sensitive sectors lead rise in stock market on RBI's repo rate pause

The NSE Nifty 50 index closed 0.55% higher at 19,653.50 points, while the S&P BSE Sensex rose 0.55% to 65,995.63. Both the benchmarks logged weekly gains, snapping a two-week losing streak

Emerging economies face China and rate pressures as IMF, World Bank meet

Restructuring efforts for defaulted countries could reach a breakthrough before year-end as talks continue, while the finances of nations like Pakistan and Egypt will also be under scrutiny

Dabur flags weak Q2 operating profit on delayed monsoon, festive season

Dabur, which sells Vatika Shampoo and Honitus cough syrup brands, said improving macro economic indicators and positive consumer sentiment will help in "gradual" recovery in urban and rural markets

Indian steel companies plan price rises as coking coal costs surge

Steel mills are likely to raise rates by $25 to $50 a metric ton by December, said the officials, who did not wish to be named as they are not authorised to speak to media