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Asian shares up on dovish Fed chair, oil up as hurricane batters Louisiana

Asian shares started the week with gains and the dollar was not far off two-week lows after US Fed Reserve Chairman Powell struck a more dovish tone than some investors expected in long-awaited speech

China's Sinopec posts $6 bn profit on rebounding oil prices, better demand

Revenue in the first six months rose 22.1% from last year's low base to 1.26 trillion yuan, following a recovery in global oil prices and robust demand for fuel and petrochemical products

Bharat Biotech scouts international Covid-19 vaccine partners

Bharat Biotech said it was exploring opportunities with its international partners who have expertise in commercial-scale manufacturing of inactivated viral vaccines.

Okinawa in Japan finds contaminants in Moderna Covid-19 vaccines: Report

The Okinawa vaccines are from different Moderna lots already suspended by the Japanese government due to reports of contamination, NHK said

Google Play app store revenue hit $11.2 billion in 2019, lawsuit says

In its quarterly financial disclosures, Google groups Play app revenue with that of other services and accounts for the store's ad revenue as part of another broader category.

China regulator swoops on algorithms in latest tech clampdown

In China, state media have accused companies of using algorithms to pressure people into purchases and promotions

Toyota halts self-driving e-Palette vehicles after Olympic village accident

In a YouTube video, Toyota Chief Executive Akio Toyoda apologized for the incident and said he offered to meet the person but was unable to do so

Govt selects 10 banks to manage LIC IPO to raise up to Rs 90,000 cr: Report

A ministerial panel, called the Alternative Mechanism on strategic Divestment, is expected to decide soon on the size of the stake to be sold.

Fed Chair gives no signal on start of bond-buying taper, weighs Delta risks

In a speech to the annual Jackson Hole economic conference, Powell indicated the Fed will remain cautious in any eventual decision to raise interest rates

S&P 500 hits record high as 'prudent Powell' stands pat on policy

All the 11 major S&P sectors were up, with energy, materials and communication services jumping 1% each.

Oil price jumps as storm approaches Gulf of Mexico production hub

Oil prices rose on Friday and were on track to post big gains for week on worries about supply disruptions as energy companies began shutting production in Gulf of Mexico ahead of possible hurricane

Oil prices jump as storm approaches Gulf of Mexico production hub

For the week, Brent is on track for a rise of 11%, its biggest weekly jump since June 2020. WTI is headed for a weekly gain of more than 10%, also the strongest since June 2020.

Indian rupee posts best week in 4 months ahead of Jackson Hole speech

In the domestic bond market, the benchmark 10-year bond yield ended steady on the day but rose 2 bps on the week.

Southeast Asia tech dealmaking booms as investors place post-Covid bets

Region's Internet economy forecast to triple by 2025; about a dozen startups set to list over two years

China may ban overseas IPOs for tech firms with data security risks: Report

The ban is also expected to be imposed on companies involved in ideology issues, said the person, declining to be identified as the matter is private.

Gold prices firm above $1,800 on softer dollar, safe-haven demand

U.S. gold futures rose 0.7% to $1,807.00.

Asian shares inch up, caution prevails ahead of Jackson Hole

US stock futures were up 0.2%, suggesting some optimism after sentiment on Thursday was dented by a deadly attack in Afghanistan, and after Fed's hawkish policymakers urged an end to stimulus

Safe-haven demand buoys gold; investors await Fed chief's speech

Spot gold gained 0.3% to $1,798.22 per ounce by 0341 GMT, and was up about 1% for the week. U.S. gold futures rose 0.4% to $1,801.30

US plans Covid-19 booster shots at six months instead of eight: Report

Pfizer and BioNTech have already started the application process for the approval of its booster shot in people 16 and older

Oil down 1%; Covid-19 pandemic surge, renewed Mexico supply end rally

Fresh COVID-19 outbreaks fueled by the Delta variant are raising concerns about the strength of the economic recovery globally