Afp Business Asia

Tokyo and Seoul led equity losses on Tuesday, while bitcoin fell below $90,000 as investors grow increasingly worried about frothy tech valuations, with focus on earnings this week from AI chip titan Nvidia.Building anxiety that this year’s record rally linked to all things artificial intelligence has made some traders question whether the billions spent on the industry might not see the big returns as soon as hoped.Compounding the negativity are concerns that the Federal Reserve will decide against a third straight interest rate cut next month, as stubborn inflation plays up against a weakening jobs market.The rally this year has been driven by fears of missing out on the AI bandwagon and bets on US borrowing costs coming down.That has put two major events this week well in the spotlight.Wednesday sees Nvidia — at the forefront of the AI push with its top-end chips — release its latest earnings report, which will be pored over for an idea about the outlook for the sector.Reports from retailers Home Depot, Target and Walmart will also give an insight into consumer sentiment.Investors have become sensitive to any negative news surrounding the AI universe and were given a jolt this week when it emerged that tech billionaire Peter Thiel’s hedge fund had offloaded all its Nvidia stake, which Bloomberg valued at about $100 million.”Analysts are sounding upbeat ahead of the report,” Neil Wilson at Saxo Markets said in a note. “But the bar is set very high and we know that if investors are starting to wobble the whole house of cards can come crashing down at any point.”Profitability at the stocks at the heart of the AI bubble remains very strong, but any weakness evident in the (third quarter) from Nvidia would be punished hard by markets.”Thursday is expected to see the release of the US September jobs report after delays due to the government shutdown. The data will provide a fresh snapshot of the world’s number one economy and give an idea about the chances of another rate cut.The chances of a December reduction are around 50-50, with Fed officials recently flagging concerns about inflation more than the jobs market.Bank boss Jerome Powell said last month that another cut at its December policy meeting was not a “foregone conclusion”, a comment that has been echoed by a number of colleagues.- Keeping powder dry? -Still, Fed governor Christopher Waller said on Monday that “my focus is on the labour market, and after months of weakening, it is unlikely that the September jobs report later this week or any other data that’s going to come out in the next few weeks is going to change my view that another cut is in order”.Reserve vice chair Philip Jefferson said that, while he saw further downside risks to jobs, he wanted decision makers to proceed carefully, suggesting he is keeping his powder dry.After a day deep in the red on Wall Street, Asia also struggled with Tokyo and Seoul — which have enjoyed hitting numerous records this year — at the forefront of the selling.Tokyo tumbled more than three percent, with investors nervously looking at Japanese bond markets as Prime Minister Sanae Takaichi prepares to unveil an economic stimulus package.Yields on the 20-year government bond hit their highest since 1999 amid speculation the spending bill will ramp up borrowing. The yields on other long-dated notes also jumped.Takaichi is due to meet BoJ head Kazuo Ueda to discuss bank policy, with its plans to raise rates likely to be on the agenda.The yen slipped to around 155.38 per dollar, its weakest since January, amid fading expectations for more Bank of Japan interest rate hikes. The unit’s retreat has also raised the possibility of officials intervening to provide support.The selling comes amid a deepening spat between Japan and China over Takaichi’s comments on Taiwan, which have seen the two warn their citizens about visiting the other’s country.Seoul also tanked more than three percent, having enjoyed a spectacular rally of more than 60 percent so far this year led by chip titans Samsung and SK hynix, which were both hammered on Tuesday.Taipei was another casualty, shedding more than two percent as market heavyweight chip firm TSMC suffered selling pressure.Hong Kong and Sydney each lost close to two percent, while Shanghai, Singapore, Wellington, Mumbai, Manila and Bangkok were well down.London, Paris and Frankfurt all fell more than one percent.Bitcoin continued to struggle with the risk-averse atmosphere, and fell below $90,000 for the first time in seven months.The unit has been on a rollercoaster this year, having struggled in the first half to hit as low as $74,424 in April before soaring to a record high of $126,251 last month.- Key figures at around 0815 GMT -Tokyo – Nikkei 225: DOWN 3.2 percent at 48,702.98 (close)Hong Kong – Hang Seng Index: DOWN 1.7 percent at 25,930.03 (close)Shanghai – Composite: DOWN 0.8 percent at 3,939.81 (close)London – FTSE 100: DOWN 1.0 percent at 9,575.69 Dollar/yen: DOWN at 155.10 yen from 155.23 yen on MondayEuro/dollar: UP at $1.1597 from $1.1589Pound/dollar: DOWN at $1.3157 from $1.3156Euro/pound: UP at 88.14 pence from 88.09 penceWest Texas Intermediate: DOWN 0.8 percent at $59.45 per barrelBrent North Sea Crude: DOWN 0.7 percent at $63.75 per barrelNew York – Dow: DOWN 1.2 percent at 46,590.24 (close)

Gangs in Haiti are profiting from a lucrative trade in baby eels caught in the crime-ridden country’s rivers and estuaries and sold abroad for thousands of dollars.Demand for the worm-like creatures with dots for eyes comes largely from Asia and is filling the coffers of the criminal organizations terrorizing Haiti, experts warn.Known in Haitian creole as “Zangi,” the glass eels drift each year from the Sargasso Sea in the North Atlantic to the ocean’s coasts — including along the coasts of the island of Hispaniola, shared by Haiti and the Dominican Republic.They infiltrate the rivers where they grow until they return to sea to reproduce.The global trade of European eels has been strictly controlled since 2009 by the CITES convention on endangered species, but the trade of American eels is not.They are however classed as endangered on the International Union for Conservation of Nature’s Red List of Threatened Species — primarily due to overfishing of the species which commercial fish farms cannot breed in captivity.They are used to supply farms where they are fattened up for sale in Asia where eels are a highly sought delicacy.Haiti along with the Dominican Republic has become a key exporter of American eels in recent years, CITES says.    To protect American and European eels, indistinguishable to the naked eye, from continuing to be shipped to Asia under false labels, the EU and Panama want CITES to restrict the trade of all eels. If their move is adopted at a meeting in Uzbekistan starting on November 24 “it will certainly penalize several stakeholders — exporters in particular — as well as poor and vulnerable small-scale fishermen” in Haiti, Natural Resources Minister Vernet Joseph told AFP. To protect the species Haiti — which is not a party to CITES — has implemented a “modest approach,” significantly reducing the overall harvest, while acknowledging a lack of reliable data on exploitation of the species.- ‘Like the Mafia’ -Haiti’s glass eel industry is entirely geared to export, is not “organized” and does not record “clear and reliable data — whether at the level of fishermen or the government,” an environmental activist told AFP on condition of anonymity.”It’s a sector like the Mafia.”Ghada Waly, the outgoing head of the UN’s drugs and crime office, warned “there is growing evidence that several Haitian nationals are part of a wider criminal network connected to lucrative eel trafficking, operating in Haiti and beyond.”Evidence showed “powerful political and economic figures in Haiti use the eel industry to launder drug profits,” she added.UN experts charged with enforcing sanctions have stepped up their monitoring of fishermen, intermediaries, customs officers and airlines.In a report published in October, they criticized how the opaque and unregulated sector had created “an ideal environment for criminals to launder money.”The government is responsible for fishing licenses — but a lack of controls allows for money laundering, fishermen and couriers to be extorted by gangs, with contraband often added to their outbound shipments, the experts said.Reliable data is scanty, but experts point to a 2009 government estimate of an export “capacity” of 800 tonnes — enough to make the trade highly lucrative.One gram of exported Haitian eels — seven to 10 actual specimens — can be sold for between $3.60 and $4.50, with the fishermen paid between 50 cents and $1.50 a kilogram.Though paid a fraction of the eels’ true value, the sums earned by the fishing community are still significant and attractive at a time of deep crisis in Haiti. Between fall and spring, the fishermen “spend 12 hours in challenging conditions, barefoot in the waters of the river mouths, from 6 pm until sunrise — all without appropriate kit,” said the environmental campaigner.To catch the minute, translucent fish, fishermen often use mosquito nets in wooden frames. A fisherman in Bas-Limbe anonymously told the UN sanctions report’s authors it was “every man for himself” and that he had seen hundreds of people hospitalized for various ailments including infections.The campaigner said “it would be better to put an end to eel fishing and help supply fishing communities with equipment to catch other species of seafood.”

Shares in the South Korean studio behind the ultra-catchy “Baby Shark” — YouTube’s most-viewed video — surged as much as 60 percent on Tuesday as the company made its market debut in Seoul.Beloved by young children, “Baby Shark Dance” has racked up more than 16 billion views on YouTube, roughly double the second-place clip “Despacito”.It was posted on the platform nearly a decade ago by The Pinkfong Company, which owns a portfolio of children’s animation and educational franchises.In morning trade, the company’s shares were up around 17 percent from their offering price of 38,000 won ($26), having earlier soared over 60 percent.”Baby Shark”, in which a shark family is introduced one by one to a chirpy tune, is a global megahit and has featured as a Macy’s parade balloon in New York.The Pinkfong Company was founded in 2010 and most of its income comes from selling content online and for live shows.Analysts said the surge in share price was normal for an initial public offering (IPO).”In theory, newly listed stocks are supposed to rise by around 30 to 40 percent on their first day of trading,” Choi Jong-kyung at Heungkuk Securities told AFP.”The level of gain (for The Pinkfong Company) is, textbook-wise, a very natural phenomenon.”The Pinkfong Company posted revenue of 97.4 billion won last year, up 11 percent, and operating profit of 18.8 billion won, nearly quadruple the previous year.Last month, CEO Kim Min-seok said the firm has “a structure that generates profit from the content itself”.”We recoup production costs through our own channels like YouTube and apps, which lowers our dependence on external distributors and reduces variable-cost burdens,” Kim told South Korea’s Edaily.South Korea is a global popular culture powerhouse, home to K-pop band BTS and the origin of recent Netflix TV hits such as “Squid Game” and “KPop Demon Hunters”.

Asian stocks sank Tuesday, tracking more losses on Wall Street as investors grow increasingly worried about frothy tech valuations, with focus turned to earnings this week from AI chip titan Nvidia.Building anxiety that this year’s record rally linked to all things artificial intelligence has made some traders question whether the billions spent on the industry might not see the big returns as soon as hoped.Compounding the downbeat mood are concerns that the Federal Reserve will decide against a third-straight interest rate cut next month, as stubborn inflation plays up against a weakening jobs market.The rally this year has been driven by the fears of missing out on the AI bandwagon and bets on US borrowing costs coming down.That has put two major releases this week well in the spotlight.Wednesday sees Nvidia — at the forefront of the AI push with its top-end chips — release its latest earnings report, which will be pored over for an idea about the outlook for the sector.Earnings from retailers Home Depot, Target and Walmart will meanwhile give an insight into consumer sentiment.Investors have become sensitive to any negative news surrounding the AI universe, and were given a jolt this week when it emerged that tech billionaire Peter Thiel’s hedge fund had offloaded all its Nvidia stake, which Bloomberg valued at about $100 million.Neil Wilson at Saxo Markets said in a note: “Analysts are sounding upbeat ahead of the report. But the bar is set very high and we know that if investors are starting to wobble the whole house of cards can come crashing down at any point. “Profitability at the stocks at the heart of the AI bubble remains very strong, but any weakness evident in the (third quarter) from Nvidia would be punished hard by markets.” Thursday is expected to see the release of the US September jobs report after delays due to the government shutdown. The data will provide a fresh snapshot of the world’s number one economy and give an idea about the chances of another rate cut.The chances of a December reduction are around 50-50, with Fed officials recently flagging concerns about inflation more than the jobs market.Bank boss Jerome Powell said last month that another cut at its December policy meeting was not a “foregone conclusion”, a comment that has been echoed by a number of colleagues.Still, Fed governor Christopher Waller said Monday that “my focus is on the labour market, and after months of weakening, it is unlikely that the September jobs report later this week or any other data that’s going to come out in the next few weeks is going to change my view that another cut is in order”.Meanwhile, Fed vice chair Philip Jefferson said that while he saw further downside risks to jobs, he wanted decision makers to proceed carefully, suggesting he is keeping his powder dry.After a day deep in the red on Wall Street, Asia also struggled.Tokyo, Sydney, Seoul and Taipei all shed more than one percent, while there were also big losses in Hong Kong, Shanghai, Singapore and Wellington.Bitcoin continued to struggle with the risk-averse atmosphere on markets, and was sitting at around $91,300, having wiped out all its gains for the year. The crypto coin has lost more than a quarter of its value since hitting a record high of $126,251 last month.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: DOWN 1.8 percent at 49,432.56 (break)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 26,128.79Shanghai – Composite: DOWN 0.4 percent at 3,957.29Dollar/yen: UP at 155.25 yen from 155.23 yen on MondayEuro/dollar: UP at $1.1591 from $1.1589Pound/dollar: DOWN at $1.3152 from $1.3156Euro/pound: UP at 88.13 pence from 88.09 penceWest Texas Intermediate: DOWN 0.5 percent at $59.64 per barrelBrent North Sea Crude: DOWN 0.4 percent at $63.92 per barrelNew York – Dow: DOWN 1.2 percent at 46,590.24 points (close)London – FTSE 100: DOWN 0.2 percent at 9,675.43 points (close)

Global stock markets pulled back Monday as traders awaited key earnings reports, notably from chip giant Nvidia, amid concerns that the US Federal Reserve could hold off on further rate cuts this year.On Wall Street, the Dow retreated 1.2 percent while the tech-heavy Nasdaq lost 0.8 percent. The broader-based S&P 500 slid 0.9 percent.Europe lacked inspiration too with the DAX closing off 1.2 percent while London and Paris lost marginal ground.Major Asian indices had earlier finished lower as well amid simmering tensions between China and Japan which hit tourism and retail firms on Tokyo’s exchange.Besides Nvidia, which dropped 1.9 percent, US retailers Home Depot, Target and Walmart are also set to release their earnings reports.Those will be monitored for signs of how consumers are faring as President Donald Trump’s tariffs bite.Traders are also awaiting US government data on how the labor market fared in September. The numbers are due for publication Thursday, after the end of the longest government shutdown in US history.”It’ll be the first glimpse of some macro news” that could provide hints on the Fed’s preferred path for interest rates moving forward, said Peter Cardillo from Spartan Capital Securities.Among companies, he added: “It’s all up to Nvidia, whether or not it can turn the souring negative sentiment on the AI sector.”Dave Grecsek of wealth management firm Aspiriant added that if Nvidia could meet high expectations, “that could sort of stabilize the market a little bit.”The European Union on Monday cut its eurozone growth forecast for 2026 as risks from international trade and geopolitical tensions weighed on Europe’s economy.Investors have in recent weeks reconsidered prospects for US rate cuts and the AI-fueled tech rally that had lifted several markets to record highs.Traders are keenly awaiting the release of several reports — including on jobs and inflation — that had been held up by the record US government shutdown that ended last week.With data releases delayed, “chances are growing that the Fed will avoid changing monetary policy when the economic outlook remains murky,” said Kathleen Brooks, research director at trading group XTB.Fed boss Jerome Powell signaled last month that a December cut to borrowing costs was not assured, adding to uncertainty.All eyes are on this week’s earnings update from Nvidia, the world’s most valuable company, which late last month hit a market capitalization of $5.0 trillion before slipping back.For now, Bitcoin suffered from the uncertain climate on trading floors.The cryptocurrency had climbed to a record high of $126,251 on October 6, buoyed by Trump’s pledges to ease regulation on the crypto sector, but has fallen from that level to around $91,634.45.- Key figures at around 2105 GMT -New York – Dow: DOWN 1.2 percent at 46,590.24 points (close)New York – S&P 500: DOWN 0.9 percent at 6,672.41 (close)New York – Nasdaq Composite: DOWN 0.8 percent at 22,708.08 (close)London – FTSE 100: DOWN 0.2 percent at 9,675.43 points (close)Paris – CAC 40: DOWN 0.6 percent at 8,119.02 (close)Frankfurt – DAX: DOWN 1.2 percent at 23,590.52 (close)Tokyo – Nikkei 225: DOWN 0.1 percent at 50,323.91 (close)Hong Kong – Hang Seng Index: DOWN 0.7 percent at 26,384.28 (close)Shanghai – Composite: DOWN 0.5 percent at 3,972.03 (close)Dollar/yen: UP at 155.23 yen from 154.55 yen on FridayEuro/dollar: DOWN at $1.1589 from $1.1621Pound/dollar: DOWN at $1.3156 from $1.3171Euro/pound: DOWN at 88.09 pence from 88.22 penceWest Texas Intermediate: DOWN 0.3 percent at $59.91 per barrelBrent North Sea Crude: DOWN 0.3 percent at $64.20 per barrel

Global stock markets marked time Monday as traders awaited key earnings reports, notably from chip giant Nvidia, amid concerns the US Federal Reserve could hold off on further rate cuts this year.On Wall Street the Dow was flat two hours into the session while the tech-heavy Nasdaq had added a paltry 0.2 percent. The broader-based S&P 500 Index was off by just under of 0.1 percent.Europe lacked inspiration with the DAX closing off 1.2 percent while London and Paris lost marginal ground.Major Asian indices had earlier finished down amid simmering tensions between China and Japan which hit tourism and retail firms on Tokyo’s exchange.Besides Nvidia, which was off 1.1 percent, US retailers including Home Depot, Target and Walmart are also set to release their earnings reports.Those will be monitored for signs of how consumers are faring as President Donald Trump’s international trade tariffs bite.Traders are also awaiting US government data on how the labour market fared in September. The numbers are due for publication Thursday, after the end of the longest government shutdown in US history.”It’ll be the first glimpse of some macro news” that could provide hints on the Fed’s preferred path for interest rates moving forward, said Peter Cardillo from Spartan Capital Securities.Among companies, he added: “It’s all up to Nvidia, whether or not it can turn the souring negative sentiment on the AI sector.”The tepid mood on trading floors dragged on the crypto sector, with bitcoin briefly erasing all its gains this year — just over a month after hitting a record high.The European Union on Monday cut its eurozone growth forecast for 2026 as risks from international trade and geopolitical tensions weighed on Europe’s economy.Investors have in recent weeks reconsidered prospects for US rate cuts and the AI-fuelled tech rally that had lifted several markets to record highs.Traders are keenly awaiting the release of several reports — including on jobs and inflation — that had been held up by the record US government shutdown that ended last week.With data releases delayed, “chances are growing that the Fed will avoid changing monetary policy when the economic outlook remains murky”, said Kathleen Brooks, research director at trading group XTB.Federal Reserve boss Jerome Powell signalled last month that a December cut to borrowing costs was not assured, adding to uncertainty.All eyes are on this week’s release of earnings from chip titan Nvidia, the world’s most valuable company, which late last month hit a market capitalisation of $5.0 trillion before slipping back.Bitcoin suffered from the uncertain climate on trading floors, with the digital unit briefly dropping to $92,935.51.It bounced back slightly to sit above $94,000 on Monday. The cryptocurrency had climbed to a record high of $126,251 on October 6, buoyed by Trump’s pledges to ease regulation on the crypto sector.- Key figures at around 1650 GMT -New York – Dow: FLAT at 47,141.61 pointsNew York – S&P 500: UP 0.2 percent at 6,745.31 New York – Nasdaq Composite: UP 0.2 percent at 22,962.65London – FTSE 100: DOWN 0.2 percent at 9,675.43 points (close)Paris – CAC 40: DOWN 0.6 percent at 8,119.02 (close)Frankfurt – DAX: DOWN 1.2 percent at 23,590.52 (close)Tokyo – Nikkei 225: DOWN 0.1 percent at 50,323.91 (close)Hong Kong – Hang Seng Index: DOWN 0.7 percent at 26,384.28 (close)Shanghai – Composite: DOWN 0.5 percent at 3,972.03 (close)Dollar/yen: UP at 155.19 yen from 154.55 yen on FridayEuro/dollar: DOWN at $1.1598 from $1.1621Pound/dollar: UP at $1.3174 from $1.3171Euro/pound: DOWN at 88.01 pence from 88.22 penceWest Texas Intermediate: FLAT at $60.11 per barrelBrent North Sea Crude: FLAT at $64.43 per barrel

Global stock markets fell back Monday as traders awaited key earnings reports notably from chip giant Nvidia and amid concerns the US Federal Reserve could hold off on further rate cuts this year.On Wall Street the Dow was off 0.2 percent at 47,033.52 points a few minutes into trading, with the tech-heavy Nasdaq down by a similar margin. The broader based S&P 500 Index pulled back 0.3 percent to 6,711.92.Besides Nvidia, which was off 1.6 percent, US retailers including Home Depot, Target and Walmart are also set to release their earnings reports, which will be monitored for signs of how consumers are faring as President Donald Trump’s tariffs bite.Traders are also awaiting US government data on how the labour market fared in September. The numbers are due for publication Thursday, after the end of the longest government shutdown in US history. “It’ll be the first glimpse of some macro news” that could provide hints on the Fed’s preferred path for interest rates moving forward, said Peter Cardillo from Spartan Capital Securities.Among companies, he added that “it’s all up to Nvidia, whether or not it can turn the souring negative sentiment on the AI sector”.London and Paris were marginally into the red two hours out from the European close while the DAX was off 0.8 percent in Frankfurt.Major Asian indices earlier finished down amid simmering tensions between China and Japan which hit tourism and retail firms on Tokyo’s exchange.The tepid mood on trading floors dragged on the crypto sector, with bitcoin briefly erasing all its gains this year — just over a month after hitting a record high.The European Union on Monday cut its eurozone growth forecast for 2026 as risks from international trade and geopolitical tensions weigh on Europe’s economy.Investors have in recent weeks reconsidered prospects for US rate cuts and the AI-fuelled tech rally that had lifted several markets to record highs.Traders are keenly awaiting the release of several reports — including on jobs and inflation — that had been held up by the record US government shutdown that ended last week.With data releases delayed, “chances are growing that the Fed will avoid changing monetary policy when the economic outlook remains murky”, said Kathleen Brooks, research director at trading group XTB.Federal Reserve boss Jerome Powell signalled last month that a December cut to borrowing costs was not assured, adding to uncertainty.All eyes are on this week’s release of earnings from chip titan Nvidia, the world’s most valuable company, which late last month hit a market-capitalisation of $5.0 trillion before slipping back a bit.Bitcoin suffered from the uncertain climate on trading floors, with the digital unit briefly dropping to $92,935.51. It bounced back slightly to sit above $95,000 on Monday.The cryptocurrency had climbed to a record high of $126,251 on October 6, buoyed by US President Donald Trump’s pledges to ease regulation on the crypto sector.- Key figures at around 1450 GMT -New York – Dow: DOWN 0.2 percent at 47,033.52 pointsNew York – S&P 500: DOWN 0.3 percent at 6,711.92 New York – Nasdaq Composite: DOWN 0.2 percent at 22,867.59 London – FTSE 100: DOWN 0.1 percent at 9,686.52 pointsParis – CAC 40: DOWN 0.4 percent at 8,134.06Frankfurt – DAX: DOWN 0.8 percent at 23,691.12Tokyo – Nikkei 225: DOWN 0.1 percent at 50,323.91 (close)Hong Kong – Hang Seng Index: DOWN 0.7 percent at 26,384.28 (close)Shanghai – Composite: DOWN 0.5 percent at 3,972.03 (close)Dollar/yen: UP at 155.17 yen from 154.55 yen on FridayEuro/dollar: DOWN at $1.1585 from $1.1621 Pound/dollar: DOWN at $1.3168 from $1.3171Euro/pound: DOWN at 87.97 pence from 88.22 penceWest Texas Intermediate: FLAT at $60.06 per barrelBrent North Sea Crude: FLAT at $64.40 per barrel

Emirates, the Middle East’s biggest airline, topped up its order of Boeing 777X planes on Monday despite years of delays, delivering a vote of confidence to the US manufacturer at the Dubai Airshow.The order of 65 777-9s, valued at $38 billion including engines, came despite last month’s announcement that delivery was now due in 2027 — seven years behind the original schedule.Emirates, already the biggest customer for the Boeing 777, now has 270 777X, 10 777 freighters and 35 Boeing 787s on order.The 777X deliveries will start in the second quarter of 2027, Emirates Group chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said.”Some people may have doubts about Emirates’ huge backlog of aircraft orders,” he told a press conference. “But I assure that each and every aircraft on order has been carefully factored into Emirates’ growth plans.”The announcement on day one at the biennial airshow, the biggest in the Middle East, came as China showcased its COMAC C919 for the first time in the region.China’s first domestically produced passenger jet is a stab at challenging the decades-long dominance of Boeing and its European rival Airbus.Brazil’s Embraer unveiled orders from Air Cote d’Ivoire for four passenger planes and another three for Switzerland’s Helvetic Airways.Boeing also announced smaller deals with Ethiopian Airlines, which ordered 11 737 MAX jets, and nine 737-8s for Air Senegal on Monday.The US plane-maker is trying to turn the page on a torrid period including deadly crashes, court cases and a strike in its defence arm, as well as the delivery delays.- ‘Do more business’ -“I don’t think there was any convincing that needed to be done, frankly,” Brad McMullen, Boeing’s senior vice-president of sales and marketing, said of the negotiations with Emirates.”I think they’ve committed to the 777-9, their future depends on it. Our future depends on Emirates. “So, when two parties depend on each other, you can normally find a way to do more business.”Boeing’s delays have forced Emirates to refurbish much of its existing fleet, including its Airbus A380s which are now out of production.As it searches for ways to replace the giant A380s, the latest order includes the option to upgrade to a bigger version of the 777X, if Boeing chooses to build it.Boeing will take a “hard look” at building a bigger plane, but has not made any commitments, McMullen said.”We have committed that we’re gonna study it. And that’s what we’re gonna do,” he said.”It’s probably no secret that Emirates has wanted a bigger aircraft to replace the A380s, and we’re gonna see if that’s our airplane.”Emirates also said it would start rolling out free in-flight wifi via Starlink, Elon Musk’s satellite-powered network, from Sunday.

Stock markets struggled on Monday on concerns the US Federal Reserve could hold off on further rate cuts this year and fears of a tech bubble.Meanwhile, simmering tensions between China and Japan hit tourism and retail firms on Tokyo’s exchange.The tepid mood on trading floors dragged on the crypto sector, with bitcoin briefly erasing all its gains this year — just over a month after hitting a record high.Major European indices edged lower, tracking losses in Asia.The European Union on Monday cut its eurozone growth forecast for 2026 as risks from international trade and geopolitical tensions weigh on Europe’s economy.Investors have in recent weeks reconsidered prospects for US rate cuts and the AI-fuelled tech rally that had lifted several markets to record highs.Traders are keenly awaiting the release of several reports — including on jobs and inflation — that had been held up by the record US government shutdown that ended last week.With data releases delayed, “chances are growing that the Fed will avoid changing monetary policy when the economic outlook remains murky”, said Kathleen Brooks, research director at trading group XTB.Federal Reserve boss Jerome Powell signalled last month that a December cut to borrowing costs was not assured, adding to uncertainty.There is also growing unease surrounding lofty tech valuations, with warnings that an AI bubble could soon burst.All eyes are on this week’s release of earnings from chip titan Nvidia, which this month became the first $5.0 trillion company.After a tepid end to the week on Wall Street, major Asian indices closed lower on Monday.Tokyo fell as figures showed Japan’s economy shrank 0.4 percent in the three months to September.Tourism and retail firms were among the worst hit after China advised its citizens not to travel to Japan amid a diplomatic spat over comments by Prime Minister Sanae Takaichi about Taiwan.Cosmetics firm Shiseido dived more than nine percent and Uniqlo-owner Fast Retailing shed 4.8 percent.Department store group Mitsukoshi fell 11.3 percent and Pan Pacific, behind discount retail chain and tourist magnet Don Quijote, slid 5.3 percent.China is the biggest source of tourists to Japan.The diplomatic feud between China and Japan was ignited by Takaichi’s suggestion that Tokyo could intervene militarily in any attack on Taiwan.Bitcoin suffered from the uncertain climate on trading floors, with the digital unit briefly dropping to $92,935.51. It bounced back slightly to sit above $95,000 on Monday.The cryptocurrency climbed to a record high of $126,251 on October 6, buoyed by US President Donald Trump’s pledges to ease regulation on the crypto sector.- Key figures at around 1130 GMT -London – FTSE 100: DOWN 0.1 percent at 9,684.69 pointsParis – CAC 40: DOWN 0.4 percent at 8,137.73Frankfurt – DAX: DOWN 0.5 percent at 23,755.81Tokyo – Nikkei 225: DOWN 0.1 percent at 50,323.91 (close)Hong Kong – Hang Seng Index: DOWN 0.7 percent at 26,384.28 (close)Shanghai – Composite: DOWN 0.5 percent at 3,972.03 (close)New York – Dow: DOWN 0.7 percent at 47,147.48 (close)Dollar/yen: UP at 154.83 yen from 154.55 yen on FridayEuro/dollar: DOWN at $1.1598 from $1.1621 Pound/dollar: DOWN at $1.3165 from $1.3171Euro/pound: DOWN at 88.09 pence from 88.22 penceWest Texas Intermediate: FLAT at $60.07 per barrelBrent North Sea Crude: FLAT at $64.36 per barrel

Bangladesh signed on Monday a 30-year lease with global shipping giant Maersk to run a new container terminal at its largest port, a major deal inked despite dockers’ concerns.”It will be our economic gateway. It will open doors to the future” and help boost economic growth, interim leader Muhammad Yunus said in a statement.Bangladesh, the world’s second-largest garment exporter, relies heavily on Chattogram port — formerly known as Chittagong and strategically located on the Bay of Bengal — for the vast majority of imports and exports.The port is Bangladesh’s main trade gateway and a vital hub in the global garment supply chain.Shipping giant A.P. Moller–Maersk will develop the Laldia Container Terminal on the city’s outskirts through its APM Terminals subsidiary, according to Yunus’s statement.”This is a new beginning for the country,” the interim leader said.The lease agreement “opens a new door for larger and more diversified investment”, he added.Officials at the Chattogram Port Authority said the contract involves APM Terminals investing about $550 million over the next three years to develop the site, boosting cargo-handling efficiency, safety and transparency.APM Terminals will then operate the facility for the remainder of the 30-year concession.This is the first major port deal signed with foreign firms under Yunus, whose interim administration took over after the government of Sheikh Hasina was toppled in a mass uprising in August 2024.The role of foreign operators has sparked anger among some, with dockers this month escalated a strike, worried for their jobs.But supporters of the project say foreign expertise and investment would modernise operations.UAE-based DP World has expressed interest in operating another facility, Chattogram’s New Mooring Container Terminal, and port officials say contract negotiations continue.The government is also in talks with Medlog SA, part of the Switzerland-based Mediterranean Shipping Company (MSC), for an inland terminal on the outskirts of the capital Dhaka.