1:18 pm
Taiwan considering chip cooperation with Eastern European countries
Taiwan is looking to collaborate with three Eastern European countries on semiconductors, a move that is likely to gain favor in Brussels, prompting Taiwanese semiconductor firms to build in the bloc.
Tech powerhouse Taiwan, which is home to companies such as Taiwan Semiconductor Manufacturing Company Limited (TSMC), has become the focus of efforts to solve a chip crisis that has affected many industries such as automobiles and consumer electronics.
1:08 pm
Chinese regulator tries to avoid US delisting of Chinese firms
Chinese officials are working with US counterparts to prevent Chinese companies from delisting from US stock exchanges amid controversy over auditing standards.
US officials are moving to remove foreign companies from US stock exchanges if their audits fail to meet US standards.
The Public Company Accounting Oversight Board and US policymakers have long complained of a lack of access to audit working papers for US-listed Chinese companies. However, Chinese officials have been reluctant to allow foreign regulators to inspect working papers from local accounting firms, citing national security concerns.
12:55 pm
CSR budget of companies should create social, environmental, commercial value: NITI Aayog member
NITI Aayog member VK Sarawat said on Thursday that corporate social responsibility budgets of companies should create social, environmental and business values.
Addressing the ‘National CSR Network’ virtual round table, he said that Corporate Social Responsibility (CSR) should also promote Artificial Intelligence and Automation activities.
12:15 pm
Responsibility for content on social media platforms, websites should be clearly defined: Vaishnav
IT Minister Ashwini Vaishnav said the responsibility for the content posted on social media platforms and websites should be “clearly defined”.
The Minister further said that the changes in technology and the Internet over the past few decades require a fundamental rethinking of the governance framework of the Internet.
According to Vaishnav, the country, one of the largest users of the Internet, should be a major stakeholder in the way Internet governance is defined across the world.
11:30 am
UAE fully committed to OPEC+ agreement
According to a news report by the state news agency, the United Arab Emirates is fully committed to the OPEC+ agreement and has no “former stand” ahead of the upcoming meeting on December 2. WAM,
“The Ministry of Energy confirms that the United Arab Emirates is fully committed to the cooperation agreement with OPEC+ and has no prior stance on the upcoming meeting,” the agency said, citing a statement from the Ministry of Energy.
The ministry “reiterates that any decision will be taken collectively by the OPEC+ group at its next ministerial meeting,” it added.
10:45 am
Rupee slips to 74.55 against US dollar
The Indian rupee fell by 15 paise to 74.55 against the US dollar in early trade on softening of domestic equity markets and strength in the US currency.
The rupee opened on a weak note at 74.55 after closing at 74.40 against the US dollar the previous day.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14% to 96.74.
10:15 am
China not committed to US oil release, OPEC+ adamant
China, the world’s biggest crude oil importer, did not commit to releasing oil from its reserves as requested by the United States, while OPEC producers stuck to their current strategy.
On Tuesday, the US said it would release millions of barrels of oil from strategic reserves in coordination with other large consuming countries, including China, Japan and India, to try to cool prices.
The United States would issue 50 million barrels of pre-approved sales with loans to the market, while China said it was working on issuing its own reserves.
9:30 am
market update | Sensex, Nifty open lower
India’s benchmark equity indices, Sensex and Nifty opened lower amid mixed global cues. At 9:16 IST, Sensex was down 94.53 points or 0.16% at 58246.46 and Nifty was down 18.50 points or 0.11% at 17396.50.
Asian stocks fell mainly on the back of a rising US dollar as investors bet on rising interest rates in the United States compared to Japan and the euro area.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.18% to a six-week low, while Japan’s Nikkei rose 0.8%. Australia lost 0.1%, Hong Kong 0.35% and Chinese blue chips 0.3%.
9:15 am
Slight decline in oil from investors awaiting OPEC+ response
Oil prices fell as investors waited to see how major consumers respond to emergency crude oil releases by major consumer countries.
US West Texas Intermediate (WTI) crude futures fell 0.1% to $78.30 a barrel and Brent crude futures at $82.20 a barrel.
All eyes are now on OPEC+, the Organization of the Petroleum Exporting Countries, Russia and allies, who are due to meet next week to discuss oil demand and supply.
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Amazon asked the Supreme Court to block a speedy review of allegations that the US firm hid information while seeking antitrust clearance for its 2019 deal with Future Group. The Office of the US Trade Representative is ending its trade retaliation case against India after Washington and New Delhi agreed to a global tax deal transition regime that would roll back India’s digital services tax. The government’s plan for a new bill that would bar most private cryptocurrencies led to a massive sell-off in digital currency markets, as investors tried to exit positions despite losses.
, Edited by John Xavier
(With inputs from Reuters, PTI and other news agencies.)