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Asian markets trod water Thursday as euphoria over the end of a record US government shutdown petered, with focus back on Federal Reserve interest rates and tech bubble worries.Lawmakers in Washington voted Wednesday night to send Donald Trump legislation to end the 43-day stoppage that shuttered key services and suspended the release of data crucial to gauging the state of the world’s top economy.However, even with the US president expected to sign the bill, the mood on trading floors was less upbeat than earlier in the week, when a deal was announced.Investors will now be able to get a long-awaited glimpse of the reports that have been held up by the closure, particularly the Fed as it decides whether or not to meet expectations and cut rates next month.Even then, the White House said figures on jobs and consumer prices for October were not likely to be released as statistics agencies were unable to collect the necessary data.”Reopening also doesn’t mean an instant snap-back to normal for the real economy. When you starve a system of staffing and pay for six weeks, the backlog doesn’t vanish just because a bill passed at 8 pm,” wrote Stephen Innes at SPI Asset Management.”The shutdown ends with a vote and a signature; the aftershocks show up in queues, call centres and cash-flow stress far away from the Capitol dome.”Meanwhile, concerns continue to mount that this year’s AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time.Some have warned that the hundreds of billions invested in artificial intelligence has been overdone and the return could take time to come through.Observers suggested that the recent tepid performance in several high-flying firms may be a sign of that, with the Nasdaq dropping for two days.The S&P 500 has also struggled of late, though the Dow on Wednesday ended at a record amid speculation that traders are shifting from tech into industrials.The mixed showing on Wall Street was reflected in Asia, where Hong Kong, Sydney, Seoul, Singapore, Taipei, Manila and Wellington fell.Tokyo edged up while Jakarta and Shanghai were flat.Oil prices extended losses after plunging around four percent Wednesday after OPEC’s monthly crude market report forecast an oversupply in the third quarter.That came just a month after it had predicted a deficit in the period. The commodity has come under pressure of late amid easing tensions in the Middle East and increasing output by OPEC and other key producers.And the International Energy Agency earlier this year estimated a record surplus in 2026.Attention is also on Tokyo after Japanese Finance Minister Satsuki Katayama said Wednesday the government was keeping an eye on currency markets as the yen continued to weaken.She told parliament that “the government is watching for any excessive and disorderly moves with a high sense of urgency”. Since her remarks, the unit has weakened further to around 155 per dollar, prompting speculation that authorities could step in to provide support. The currency has come under pressure following dovish comments from Japan’s central bank that tempered best on another interest rate hike and as the US moved towards reopening its government.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: UP 0.2 percent at 51,166.78 (break)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 26,894.91Shanghai – Composite: FLAT at 4,000.55Dollar/yen: UP at 154.90 yen from 154.80 yen on WednesdayEuro/dollar: DOWN at $1.1585 from $1.1587 Pound/dollar: DOWN at $1.3118 from $1.3129Euro/pound: UP at 88.32 pence from 88.25 penceWest Texas Intermediate: DOWN 0.3 percent at $58.29 per barrelBrent North Sea Crude: DOWN 0.3 percent at $62.55 per barrelNew York – Dow:  UP 0.7 percent at 48,254.82 (close)London – FTSE 100: UP 0.1 percent at 9,911.42 (close)

Wall Street stocks finished mostly higher Wednesday with the Dow climbing to a fresh record on hopes a US government shutdown would soon end, while oil prices fell sharply on oversupply worries.The Dow rose 0.7 percent to finish at 48,254.82, its first close above 48,000 as some market watchers pointed to a rotation to industrial names amid worries that artificial intelligence stocks are overvalued.The Nasdaq finished down for the second straight day.Traders broadly welcomed an expected congressional vote to reopen the government, after the longest shutdown in US history effectively stemmed the flow of official economic data and closed down vital services.The House of Representatives appeared likely to vote Wednesday on a spending bill to solve the budget standoff after eight Democrats broke ranks in the Senate to pass a short-term funding bill.Around 670,000 furloughed civil servants and a similar number who were kept at their posts with no compensation — including more than 60,000 air traffic controllers and airport security staff — will get back pay.Meanwhile, in Europe, Paris hit a new record and Frankfurt also rose after a mixed day on Asian markets.”The end of the shutdown is positive for financial markets as we should get a clear read on economic data in the next week or so,” said Kathleen Brooks, research director at trading group XTB.However, she said the prospect of a resumption of government services was fueling demand for “risk assets.”Oil prices tumbled after the monthly oil market report of the Organization of the Petroleum Exporting Countries projected a jump in supply in the third quarter. In its November report, the group sees oversupply in this period after forecasting a deficit in its October report. Among individual companies, Advanced Micro Devices surged 9.0 percent after projecting greater than 35 percent revenue in annual compound growth rate amid the surge in AI investment.- Key figures at around 2110 GMT -New York – Dow:  UP 0.7 percent at 48,254.82 (close)New York – S&P 500: UP 0.1 percent at 6,850.92 (close)New York – Nasdaq Composite: DOWN 0.3 percent at 23,406.46 (close)London – FTSE 100: UP 0.1 percent at 9,911.42 (close)Paris – CAC 40: UP 1.0 percent at 8,241.24 (close)Frankfurt – DAX: UP 1.2 percent at 24,381.46 (close)Tokyo – Nikkei 225: UP 0.4 percent at 51,063.31 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,922.73 (close)Shanghai – Composite: DOWN 0.1 percent at 4,000.14 (close)Euro/dollar: UP at $1.1587 from $1.1582 on TuesdayPound/dollar: DOWN at $1.3129 from $1.3150Dollar/yen: UP at 154.80 yen from 154.16 yenEuro/pound: UP at 88.25 pence from 88.07 penceWest Texas Intermediate: DOWN 4.2 percent at $58.49 per barrelBrent North Sea Crude: DOWN 3.8 percent at $62.71 per barrel

Stock markets fluctuated Wednesday as optimism that the US government shutdown was nearing an end and another Federal Reserve interest rate cut was on the horizon failed to sustain a rally.Traders broadly welcomed an expected vote to reopen the government, after the longest shutdown in US history effectively stemmed the flow of official economic data and closed down vital services.The House of Representatives appeared likely to vote Wednesday on a spending bill to solve the budget standoff after eight Democrats broke ranks in the Senate on Monday.But the news failed to sustain a rally across the board on US markets — the Dow rising while the tech heavy Nasdaq and the S&P 500 fell back in the first few hours of trading. In Europe, Paris hit a new record and Frankfurt also rose after a mixed day on Asian markets.”The end of the shutdown is positive for financial markets as we should get a clear read on economic data in the next week or so,” said Kathleen Brooks, research director at trading group XTB.However, she said the prospect of a resumption of government services was fuelling demand for “risk assets”.The dearth of key data points left investors and the Federal Reserve unable to make informed decisions on policy.Adam Sarhan of 50 Park Investments said traders were now waiting for another possible tech rally later in the month.”Investors are going to wait for the next bullish catalyst, which could be Nvidia, arguably the most important AI stock out there right now,” Sarhan said. The chipmaker is set to report earnings on November 19.Traders had been spooked on Tuesday by news that Japanese investment titan SoftBank had sold all its shares in US chip giant Nvidia for $5.8 billion, without giving a reason.Shares in Nvidia fell three percent on Tuesday but clawed that back Wednesday, and SoftBank plunged as much as 10 percent in Tokyo after Wednesday’s open before closing down 3.5 percent.Meanwhile, expectations grew that the Fed would cut rates in December after data from private payrolls firm ADP pointed to a slower rate of hiring.”Is it a problem? It depends for whom,” said Ipek Ozkardeskaya, Senior Analyst at Swissquote bank. “It’s certainly a problem for politicians, but not for investors.”She said investors needed that kind of jobs data to justify a rate cut, which in turn would lower the cost of the borrowing and make their huge AI investments more affordable.- Key figures at around 1640 GMT -New York – Dow:  UP 0.7 percent at 48,247.24 pointsNew York – S&P 500: DOWN 0.2 percent at 6,835.20New York – Nasdaq Composite: DOWN 0.7 percent at 23,304.46London – FTSE 100: UP 0.1 percent at 9,911.42 (close)Paris – CAC 40: UP 1.0 percent at 8,241.24 (close)Frankfurt – DAX: UP 1.2 percent at 24,381.46 (close)Tokyo – Nikkei 225: UP 0.4 percent at 51,063.31 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,922.73 (close)Shanghai – Composite: DOWN 0.1 percent at 4,000.14 (close)Euro/dollar: UP at $1.1591 from $1.1588 on TuesdayPound/dollar: DOWN at $1.3130 from $1.3168Dollar/yen: UP at 154.66 yen from 154.10 yenEuro/pound: UP at 88.28 pence from 87.99 penceWest Texas Intermediate: DOWN 4.1 percent at $58.50 per barrelBrent North Sea Crude: DOWN 3.8 percent at $62.71 per barrel

World stock markets mostly rose Wednesday on optimism the US government shutdown was nearing an end and on hopes of another Federal Reserve interest rate cut.Wall Street stocks edged ahead after the opening bell ahead of a congressional vote expected to reopen the government after the longest shutdown — six weeks — in US history.The House of Representatives appeared likely to vote Wednesday on a spending bill to solve the budget standoff, after eight Democrats broke ranks in the Senate on Monday.Around 20 minutes into trading, the Dow Jones Industrial Average had added around 0.8 percent while the broad-based S&P 500 added 0.3 percent, while the tech-rich Nasdaq edged into the red after several days of gains.Adam Sarhan of 50 Park Investments said the market needed concrete signals about the economy after the shutdown resulted in a dearth of economic data.”Investors are going to wait for the next bullish catalyst, which could be Nvidia, arguably the most important AI stock out there right now,” Sarhan said. The chipmaker is set to report earnings on November 19Paris and Frankfurt both gained just over one percent, while London was up 0.3 percent.In Asia, Hong Kong and Tokyo ended higher but Shanghai edged lower.”The prospect of an end to the US government shutdown later today is fuelling demand for risk assets,” said Kathleen Brooks, research director at trading group XTB.After passing the Senate, a spending bill to reopen the US government is due before the House of Representatives and then President Donald Trump, with hopes services can resume as soon as Friday.Investors have welcomed the deal, which would end a shutdown that began on October 1 and saw a million federal workers unpaid, food benefits for low-income Americans threatened and thousands of flights cancelled.The dearth of key data points has left traders and the Federal Reserve unable to make informed decisions on policy.”The end of the shutdown is positive for financial markets as we should get a clear read on economic data in the next week or so,” Brooks said.Adding to the upbeat mood were expectations for a Fed rate cut in December after data from private payrolls firm ADP added to recent reports pointing to a softening US labour market.”Investors want — and need — this data to be soft enough to justify another 25 basis point rate cut from the Federal Reserve in December,” said Ipek Ozkardeskaya, senior analyst at Swissquote bank.Wall Street had closed mixed Tuesday amid worries about elevated tech valuations following a breathtaking AI-fuelled rally this year.Traders were also spooked by news that Japanese investment titan SoftBank had sold all its shares in US chip giant Nvidia for $5.8 billion, without giving a reason.Shares in Nvidia fell three percent on Tuesday but clawed that back Wednesday, and SoftBank plunged as much as 10 percent in Tokyo after Wednesday’s open before closing down 3.5 percent.- Key figures at around 1500 GMT -New York – Dow:  UP 0.8 percent at 48,288.93 pointsNew York – S&P 500: UP 0.3 percent at 6,864.49New York – Nasdaq Composite: DOWN 0.3 percent at 23,395.49London – FTSE 100: UP 0.2 percent at 9,924.84 pointsParis – CAC 40: UP 1.3 percent at 8,262.33Frankfurt – DAX: UP 1.3 percent at 24,399.44Tokyo – Nikkei 225: UP 0.4 percent at 51,063.31 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,922.73 (close)Shanghai – Composite: DOWN 0.1 percent at 4,000.14 (close)Euro/dollar: DOWN at $1.1569 from $1.1588 on TuesdayPound/dollar: DOWN at $1.3092 from $1.3168Dollar/yen: UP at 154.99 yen from 154.10 yenEuro/pound: UP at 88.37 pence from 87.99 penceWest Texas Intermediate: DOWN 2.3 percent at $59.59 per barrelBrent North Sea Crude: DOWN 2.2 percent at $63.71 per barrel

Equities rose in Asia on Wednesday as the US shutdown nears an end and after fresh jobs data boosted the chances of a third successive Federal Reserve interest rate cut.However, a mixed day on Wall Street highlighted worries about elevated tech valuations following a breathtaking AI-fuelled rally this year.After passing the Senate, a spending bill to reopen the US government is due before the House of Representatives and then Donald Trump, with hopes services can resume as soon as Friday.In a dig at Democrats who he blamed for the closure, the US president said in a Veterans Day speech at Arlington National Cemetery on Tuesday: “We’re opening up our country — it should have never been closed.””Only people that hate our country want to see it not open,” he told ESPN later.Investors have welcomed the deal, which will end a shutdown that began on October 1 and saw a million federal workers unpaid, food benefits for low-income Americans threatened and thousands of flights cancelled.It has also meant a string of key data points have not been released, leaving traders and the Fed unable to make informed decisions on policy.However, analysts pointed out that while some reports could come out soon, others remained unclear.”September payrolls should be relatively quick, it was set to be published the day after the start of the shutdown,” said Taylor Nugent at National Australia Bank.”Data where collection was disrupted could take longer and it is not clear yet what approach will be taken for missing data.”The unemployment rate for October, which relies on household surveys, and many October consumer prices which are actively surveyed, are key challenges.”Adding to the upbeat mood were expectations for a Fed rate cut in December after data from private payrolls firm ADP showed US companies shed 11,250 jobs per week on average in the four weeks ended October 25.The figure followed a number of reports pointing to a softening labour market, which is putting pressure on the Fed to cut, even as it looks to keep a lid on stubbornly high inflation.A report this month from outplacement firm Challenger, Gray & Christmas revealed US layoffs hit the highest level in 22 years in October.Markets in Hong Kong, Tokyo, Seoul, Mumbai, Singapore, Taipei, Wellington and Manila were all in the green. However, Shanghai, Sydney and Bangkok dipped.The gains continued in London, Paris and Frankfurt.Wall Street was less euphoric, ending on a mixed note, with tech firms struggling to match the soaring performances that have characterised this year.The Nasdaq ended slightly down and the broader S&P 500 marginally higher, but the Dow closed more than one percent higher, with observers saying that suggested a shift into industrial sectors.Tech’s tepid run of late has come amid talk that a bubble has formed in the sector, with some warning it could burst, as investors worry that investment returns could take time to be realised.”Valuation concerns have intensified as the (S&P 500) index has climbed higher throughout the year,” said Fabien Yip, a market analyst at IG.”Investors are questioning whether current price levels can be sustained, particularly on stocks boosted by the AI boom if interest rates remain elevated for longer than expected.”Traders were also spooked by news that Japanese tech investment titan SoftBank had sold all its shares in US chip giant Nvidia for $5.8 billion, without giving a reason.Shares in Nvidia fell three percent, and SoftBank plunged as much as 10 percent in Tokyo after opening Wednesday but finished just 3.5 percent off.Mary Pollock of CreditSights said that “while the picture today is rosy, the risk that AI valuations are frothy cannot be disregarded”.”It is far from certain that confidence in AI’s value proposition, the timeline by which revenues are achieved, and investors’ expectations for growth all continue to evolve in-step.”- Key figures at 0815 GMT -Tokyo – Nikkei 225: UP 0.4 percent at 51,063.31 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,922.73 (close)Shanghai – Composite: DOWN 0.1 percent at 4,000.14 (close)London – FTSE 100: UP 0.2 percent at 9,914.53 Euro/dollar: DOWN at $1.1582 from $1.1588 on TuesdayPound/dollar: DOWN at $1.3144 from $1.3168Dollar/yen: UP at 154.62 yen from 154.10 yenEuro/pound: UP at 88.12 pence from 87.99 penceWest Texas Intermediate: DOWN 0.5 percent at $60.76 per barrelBrent North Sea Crude: DOWN 0.4 percent at $64.89 per barrelNew York – Dow:  UP 1.2 percent at 47,927.96 (close)

A Cambodian conglomerate whose founder has had more than $15 billion of allegedly ill-gotten assets seized said it “categorically rejects” claims he amassed his fortune running an internet scam empire.A frenzy of asset confiscations in Europe, the United States and Asia have targeted Cambodia’s Prince Holding Group — with authorities alleging its founder Chen Zhi was running a transnational criminal organisation.The US Justice Department in October unsealed an indictment against the tycoon, accusing him of presiding over forced labour camps in Cambodia where trafficked workers conduct online scams.US investigators seized around $15 billion worth of Bitcoin they allege are criminal proceeds — the largest forfeiture action in the Justice Department’s history.Britain also froze business and property assets worth more than $130 million while Taiwan, Singapore and Hong Kong each swooped with national seizures as high as $350 million.”The Prince Group categorically rejects the notion that it or its Chairman, Chen Zhi, has engaged in any unlawful activity,” said the company on Tuesday.”The recent allegations are baseless and appear aimed at justifying the unlawful seizure of assets worth billions of dollars,” added the statement — the first by the company since the crackdown began.”We are confident that when the facts come out, the Prince Group and its Chairman will be fully exonerated.”One of Cambodia’s largest conglomerates, Prince Holding Group has operated across more than 30 countries with interests in real estate, financial services and consumer businesses since 2015.The business empire is ubiquitous in the Southeast Asian country, boasting $2 billion in real estate investments, including a large shopping mall, Prince International Plaza, in the capital Phnom Penh.The company said allegations against it “have caused undue harm to thousands of innocent employees, partners and communities who the Group serves”.But prosecutors accuse the company of being a corrosive influence — running elaborate online networks that target people with romance or business cons and launder the proceeds through cryptocurrency.Cyber-scam operations have mushroomed across Southeast Asia — often operating from unassuming office blocks or warehouses, where con artists target marks living on the other side of the world.Some workers go willingly to the scam hubs, while others are trafficked and held in prison-like conditions.The US Justice Department last month called Prince Group “one of Asia’s largest transnational criminal organizations” and said Chen — a joint British-Cambodian national — remains “at large”.

Equities rose in Asia on Wednesday as the US shutdown nears an end and after fresh jobs data boosted the chances of a third successive Federal Reserve interest rate cut.However, a mixed day on Wall Street highlighted ongoing worries about elevated tech valuations following a breathtaking AI-fuelled rally this year.After passing the Senate, a spending bill to reopen the US government is due before the House of Representatives and then to Donald Trump, with hopes services can resume as soon as Friday.In a dig at Democrats who he blamed for the closure, the US president said in a Veterans Day speech at Arlington National Cemetery on Tuesday: “We’re opening up our country — it should have never been closed.”He added: “Only people that hate our country want to see it not open,” he told ESPN.Investors have welcomed the deal, which will end a shutdown that began on October 1 and saw a million federal workers unpaid, food benefits for low-income Americans threatened and thousands of flights cancelled.It has also meant a string of key data points have not been released, leaving traders and the Fed unable to make informed decisions on policy.However, analysts pointed out that while some reports could come out soon, it was unclear about others.”September payrolls should be relatively quick, it was set to be published the day after the start of the shutdown,” said Taylor Nugent at National Australia Bank. “Data where collection was disrupted could take longer and it is not clear yet what approach will be taken for missing data.”The unemployment rate for October, which relies on household surveys, and many October consumer prices which are actively surveyed, are key challenges.”Adding to the upbeat mood was expectations for a Fed rate cut in December after data from private payrolls firm ADP showed US companies shed 11,250 jobs per week on average in the four weeks ended October 25.The figure followed a number of reports pointing to a softening labour market, which is putting pressure on the Fed to cut, even as it looks to keep a lid on stubbornly high inflation.A report this month from outplacement firm Challenger, Gray & Christmas revealed US layoffs hit the highest level in 22 years in October.In early Asian trade, Hong Kong, Tokyo, Shanghai, Sydney, Seoul, Singapore, Taipei, Wellington and Manila were all in the green.Still, Wall Street was less euphoric, ending on a mixed note, with tech firms struggling to match the soaring performances that have characterised this year.The Nasdaq ended slightly down and the broader S&P 500 marginally higher, but the Dow closed more than one percent higher, with observers saying that suggested a shift into industrial sectors.Tech’s tepid run of late has come amid talk that a bubble has formed in the sector, with some warning it could burst.”Valuation concerns have intensified as the (S&P 500) index has climbed higher throughout the year,” said Fabien Yip, a market analyst at IG.”Investors are questioning whether current price levels can be sustained, particularly on stocks boosted by the AI boom if interest rates remain elevated for longer than expected.”Traders were also spooked by news that Japanese tech investment titan SoftBank had sold all its shares in US chip giant Nvidia for $5.8 billion, without giving a reason.Shares in Nvidia fell three percent, and SoftBank plunged as much as 10 percent in Tokyo on Wednesday.- Key figures at 0230 GMT -Tokyo – Nikkei 225: UP 0.2 percent at 50,927.29Hong Kong – Hang Seng Index: UP 1.1 percent at 26,983.76Shanghai – Composite: UP 0.3 percent at 4,015.03Euro/dollar: DOWN at $1.1579 from $1.1588 on TuesdayPound/dollar: DOWN at $1.3143 from $1.3168Dollar/yen: UP at 154.37 yen from 154.10 yenEuro/pound: UP at 88.09 pence from 87.99 penceWest Texas Intermediate: DOWN 0.2 percent at $60.94 per barrelBrent North Sea Crude: DOWN 0.1 percent at $65.07 per barrelNew York – Dow:  UP 1.2 percent at 47,927.96 (close)London – FTSE 100: UP 1.2 percent at 9,899.60 (close) 

Syrupy aromas drift across the guarded compound of Bangladesh’s only licensed distillery, a state-owned producer posting record profits in the Muslim-majority nation, where Islamists are staging a political comeback.That’s a surprising success in a country where the vast majority of its 170 million people are barred from buying its products.Alcohol is tightly regulated in Bangladesh, the world’s fourth most populous Muslim nation.Carew and Co, established under British rule 87 years ago, produced $10 million in profit in 2024–25, and paid the same again in taxes, said managing director Rabbik Hasan.”This is the highest profit since the company’s establishment,” Hasan told AFP. “We expect further growth in the coming year.”Bangladesh has faced turbulent times.A mass uprising in August 2024 ousted the autocratic government of Sheikh Hasina, who had been criticised for extensive human rights abuses and had taken a hard line against Islamist movements during her 15-year rule.Since she fled to India — defying extradition orders to attend her crimes against humanity trial — Islamist groups have grown increasingly assertive.Alcohol, forbidden under Islam, has escaped their condemnation, but they have demanded restrictions on cultural activities they consider “anti-Islamic” —  including music and theatre festivals, women’s football matches, and kite-flying celebrations.An interim government is leading the South Asian nation towards elections expected in February 2026.But at the sprawling Darsana facility near the Indian border, humming machines fill bottles.Carew’s popular brands range from the golden-hued “Imperial Whisky” to “Tsarina Vodka”, distilled from sugarcane with flavourings imported from the Netherlands.”We never encourage anyone to drink — we only sell to those who already do,” Hassan added.- ‘Zero doubt’ -Buying an alcoholic drink in Bangladesh requires a government permit, issued only to those aged over 21, and mainly granted to non-Muslims, who require a medical prescription.”Alcohol is forbidden,” said Hasan Maruf, director general of the Department of Narcotics Control, but added that “exemptions exist for certain communities”.That includes foreigners and workers on the country’s tea estates, where Carew’s low-cost liquor is popular among the 150,000 mainly Hindu workers.Around 10 percent of Bangladeshi are not Muslims, mainly Hindus.This year, only the company’s sugar division suffered losses — with its mills also producing fertiliser, vinegar, and industrial alcohol.Carew provides the only source of regulated liquor — alongside a separate brewery producing Hunter, Bangladesh’s only beer, owned by the Jamuna Group conglomerate.Those are reliable products in a country where illegal moonshine stills — or the dangerous adulteration of imported liquor — has been a persistent problem.Fish trader Prince Mamun, 42, said he has been drinking Carew for two decades. “It’s cheaper and safer than imported brands,” he said, adding that he holds a permit and drinks about 20 days a month.”I drink Carew products with zero doubt.”Shah Alam, a devout Muslim and 38-year employee in the bottling unit, has never tasted the products.Yet he praises the distillery for its contributions to the local community, from education to employment.”I don’t drink anything from here, nor am I involved with the selling,” Alam, 59, said. “All I am doing here is my job.”

France’s foreign minister criticized “military operations” in the Caribbean at a G7 meeting on Tuesday, as the deployment of a US aircraft carrier strike group escalated an arms buildup in the region.Speaking to reporters at the start of a Group of Seven gathering in Canada, top French diplomat Jean-Noel Barrot said it was crucial to avoid “instability caused by potential escalations,” after Venezuela warned the US deployments could trigger a full-blown conflict.”We have observed, with concern, military operations in the Caribbean region because they disregard international law,” Barrot said, without citing specific US actions.But the comments at the meet near Niagara Falls came after the USS Gerald R. Ford, the world’s largest aircraft carrier, entered an area under control of the US Naval Forces Southern Command, which encompasses Latin America and the Caribbean.President Donald Trump’s administration is conducting a military campaign in the Caribbean and eastern Pacific, deploying naval and air forces for an anti-drugs offensive.Venezuelan President Nicolas Maduro has accused the Trump administration of “fabricating a war” while pursuing a regime change plot in disguise.Barrot said it was essential for the G7 club of industrialized democracies to “work in concert” to confront the global narcotics trade, noting that more than a million French citizens live in the Caribbean and could be impacted by any potential unrest. – Ukraine, Sudan -Canadian Foreign Minister Anita Anand, the meeting host, said bolstering Ukraine would feature prominently at the talks, but has stopped short of promising concrete G7 action to support Kyiv’s efforts against invasion by Russia.As the meeting began, the UK announced £13 million ($17.1 million) of funding to help repair Ukraine’s energy sector, which has sustained massive Russian attacks in recent days.Britain also announced a maritime services ban on Russian liquid natural gas.Foreign Secretary Yvette Cooper said Russian President Vladimir Putin “is trying to plunge Ukraine into darkness and the cold as winter approaches.”At the G7, Cooper plans “to galvanise (Britain’s) closest partners to continue to stand up for Ukraine in the face of Putin’s mindless aggression,” the foreign office said.Anand told reporters that Sudan’s escalating crisis will be addressed Tuesday at a working dinner on global security.She said Canada was “absolutely horrified” by the conflict that has triggered one of the world’s worst humanitarian crises, and that the G7 would work “to support those who are suffering and dying needlessly in Sudan.”Anand is set for a bilateral meeting with US Secretary of State Marco Rubio before the G7 meeting closes on Wednesday. But she said she did not expect to press the issue of Trump’s trade war, which has forced Canadian job losses and squeezed economic growth.”We will have a meeting and have many topics to discuss concerning global affairs,” Anand told AFP.”The trade issue is being dealt with by other ministers.”Trump abruptly ended trade talks with Canada last month — just after an apparently cordial White House meeting with Prime Minister Mark Carney.The president has voiced fury over an ad, produced by Ontario’s provincial government, which quoted former US president Ronald Reagan on the harm caused by tariffs.

Wall Street stocks mostly rose Tuesday as optimism over a likely end to the US government shutdown offset weakness in some leading technology equities.After Monday’s rally, US stocks opened mostly lower on lingering unease about the stratospheric valuation growth of major players in artificial intelligence.Those worries ebbed a bit as the session progressed, with some large tech equities finishing in positive territory. But the tech-heavy Nasdaq Composite was down 0.3 percent, the only one of the three main US indices to retreat. “There’s definitely concern over valuations but that valuations don’t mean the market’s going to sell off,” said Tim Urbanowicz of Innovator Capital Management, adding “it just leaves a lot less room for bad news.”Japan’s SoftBank announced it sold $5.8 billion worth of shares in US chip giant Nvidia last month. SoftBank did not give a reason for the Nvidia stock sale in its earnings statement.Shares in Nvidia, whose processors are prized by companies training and operating AI models, fell 3.0 percent.”For the wider investment community, when big investors cash out of their AI positions, they will take notice, and this is why the stock is declining today,” said Kathleen Brooks, research director at XTB trading group.More broadly, Brooks said tech stocks were no longer providing market momentum.”Without momentum helping US indices move higher, volatility could take hold, so we are not expecting stocks to move in a straight line for now, and the market correction may not be over,” she said in a note to clients.Some market watchers viewed Tuesday’s strong rise in the Dow as evidence of a rotation to industrial names from tech.Investors have been cheered by the progress on legislation on Capitol Hill to reopen the government.On Monday night several Democratic senators broke ranks to join Republicans in a 60-40 vote passing legislation to reopen the government, which would trigger a release of US economic reports on labor, consumer prices and other key benchmarks in the coming weeks.Tuesday’s session was held on Veteran’s Day, a US holiday, resulting in lower volumes than normal.Europe’s main stock markets climbed Tuesday.London’s top-tier FTSE 100 index reached a fresh record high as a weakening pound boosted multi-nationals earning in dollars, while Paris won solid gains in a day that is also a public holiday in France.- Key figures at 2110 GMT -New York – Dow:  UP 1.2 percent at 47,927.96 (close)New York – S&P 500: UP 0.2 percent at 6,846.61 (close)New York – Nasdaq Composite: DOWN 0.3 percent at 23,468.30 (close)London – FTSE 100: UP 1.2 percent at 9,899.60 (close) Paris – CAC 40: UP 1.3 percent at 8,156.23 (close)Frankfurt – DAX: UP 0.5 percent at 24,088.06 (close)Tokyo – Nikkei 225: DOWN 0.1 percent at 50,842.93 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 26,696.41 (close)Shanghai – Composite: DOWN 0.4 percent at 4,002.76 (close)Euro/dollar: UP at $1.1588 from $1.1557 on MondayPound/dollar: DOWN at $1.3168 from $1.3175Dollar/yen: DOWN at 154.10 yen from 154.15 yenEuro/pound: UP at 87.99 pence from 87.72 penceBrent North Sea Crude: UP 1.7 percent at $65.16 per barrelWest Texas Intermediate: UP 1.5 percent at $61.04 per barrelburs-jmb/jgc