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China targets 50% growth in computing power in race against the US

The plan, released by six departments in Beijing including the Ministry of Industry and Information Technology (MIIT), has set a target for China's total computing power to reach 300 EFLOPS by 2025

Israel on war footing, Hamas threatens to kill hostages if houses attacked

After hours of intense bombardment by Israeli jets, Hamas, the Islamist movement which controls Gaza, said it would execute an Israeli captive if civilian houses were bombed

Bank of Israel to sell up to $30 billion of forex to stabilise shekel

The shekel fell 2.8% versus the dollar to 3.95 - its weakest level since February 2016 - after the announcement and matching its biggest one-day move since March 2020

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

Renewables funds see record outflows as rising rates, costs hit shares

Renewable energy firms with high growth potential are vulnerable to rising interest rates as they eat into the value of future cash flows

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

Dollar gains against euro in flight to safety on Israel-Palestinian clashes

The Japanese yen - another traditional safe-haven currency - edged 0.28% higher to 148.89 per dollar

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

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

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