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China consumer prices rise at slower rate in Sept

BEIJING, Oct 13 (AFP): China's consumer inflation rate slowed in September, official data showed Sunday, in a sign that demand remains fragile in the world's number two economy.The slowdown comes as authorities have been seeking to boost domestic activity and shore up China's ailing property sector, with officials on Saturday...

Iraq produces 3.94m barrels per day of oil in Sept

DUBAI, Oct 13 (Reuters): Iraq produced 3.94 million barrels per day (bpd) of oil in September, less than its OPEC+ output quota of about 4 million bpd, an Iraqi official said on Saturday, as the country seeks to boost its compliance with the target.The production figure given by the official,...

Reliance lobbies India minister on satellite spectrum in new face-off with Musk

NEW DELHI, Oct 13 (Reuters): Indian billionaire Mukesh Ambani's Reliance has privately argued that the telecom regulator incorrectly concluded that home satellite broadband spectrum should be allocated by New Delhi and not auctioned, intensifying a face-off with Elon Musk's Starlink.How spectrum for satellite services in India will be given out...

Russia sets price floor for wheat at int’l tenders

MOSCOW, Oct 13 (Reuters): Russia's agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters.The recommendation introduces a de-facto price floor of $250 per metric ton on...

TikTok cuts hundreds of jobs in AI shift

KUALA LUMPUR, Oct 13 (AFP): Social media platform TikTok said it will slash hundreds of jobs, with a significant number of employees in Malaysia expected to be affected, as the company shifts to AI-assisted content moderation.TikTok, owned by China-based ByteDance, said Friday it would cut several hundred jobs around the...

Car sales of Beijing snap five-month decline on subsidy boost

BEIJING, Oct 13 (Reuters): China's passenger vehicle sales rose 4.3 per cent in September from a year earlier, snapping five months of decline with a boost from a government subsidy to encourage trade-ins as part of a broader stimulus package.All the gains came from battery-powered vehicles, whose buyers and manufacturers...