Apple plans $1 billion manufacturing plant investment in Indonesia, minister says

JAKARTA (Reuters) -Tech giant Apple <AAPL.O> plans to invest $1 billion in a manufacturing plant in Indonesia that produces components for smartphones and other products, Indonesia’s investment minister said on Thursday. In October, Indonesia banned sales of the iPhone 16 because it said Apple had not adhered to rules that require phones sold domestically to …

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Mitsui CEO says final push underway with TotalEnergies to revive Mozambique LNG project

TOKYO (Reuters) – Japan’s Mitsui & Co is collaborating with TotalEnergies and the Mozambique government to finalise plans for restarting construction of the $20 billion Mozambique liquefied natural gas (LNG) project, CEO Kenichi Hori said on Thursday. The project, led by TotalEnergies, has faced delays due to concerns over violent unrest in the region. “We …

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Financials, IT drive Indian shares higher ahead of cenbank policy decision

By Bharath Rajeswaran (Reuters) -Indian shares advanced on Thursday as U.S.-focused IT stocks jumped on a rosy picture of the U.S. economy, while financials extended their rally to a fifth session on hopes of domestic policy easing. The benchmark NSE Nifty 50 jumped 0.98% to 24,708.4, while the BSE Sensex added 1% to 81,765.86, logging …

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Philippines files diplomatic protest against China over South China Sea incident

MANILA (Reuters) -The Philippines’ foreign ministry said on Thursday it has filed a diplomatic protest against China over a Dec. 4 maritime incident in the contested Scarborough Shoal in the South China Sea. Thursday’s protest is the latest in nearly 200 the Philippines has lodged against China under President Ferdinand Marcos Jr who has increasingly …

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Factbox-Global companies likely to be affected by Trump’s promised tariffs

(Reuters) – President-elect Donald Trump in late November pledged tariffs on the United States’ three largest trading partners – Canada, Mexico and China – detailing how he will implement campaign promises that could trigger trade wars. Here are companies that may be affected (by sector, in alphabetical order): AUTOMAKERS AUDI Volkswagen’s Audi plant in San …

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Italy and African Development Bank sign $420 million co-financing deal

RABAT (Reuters) – Italian state lender CDP and the African Development Bank (AfDB) signed on Thursday a co-financing deal worth 400 million euros ($420 million) to promote climate finance, sustainable farming, education and technical assistance, AfDB’s vice president for finance Hassatou Diop N’Sele said. The deal, signed during the AfDB’s Africa Investment Forum in Rabat, …

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Inditex temporarily closes some franchise-operated stores in Algeria

MADRID (Reuters) -Spain’s Inditex has temporarily closed some of its franchise-operated stores in Algeria due to operational problems though it is not considering ceasing operations in the country, the company told Reuters on Thursday. The owner of Zara and other brands, which according to its latest annual report has 20 stores in Algeria, has at …

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Rupee little changed as cenbank rate decision, growth commentary looms

By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee ended little changed following a rangebound trading session on Thursday, with market players speculating whether the country’s central bank will initiate an interest rate easing cycle on Friday to stimulate economic growth. The rupee, ended at 84.7325 to the U.S. dollar, from Wednesday’s close of 84.74. …

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Russia’s Rosneft invested $20 billion in India, Indian government quotes Putin as saying

By Sakshi Dayal NEW DELHI (Reuters) -Russian oil producer Rosneft invested $20 billion in India recently, the Indian government quoted Russian President Vladimir Putin as saying in a statement on Thursday, without giving details. Putin said in January that Rosneft planned to expand its presence in India and Indian government officials said in July that …

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