Latest Developments

Asia
The Hindu BusinessLine

At G20 meeting, Jaishankar pushes for transparent and diversified global supply chains

Japan's Foreign Minister Toshimitsu Motegi, India's External Affairs Minister S. Jaishankar, US Secretary of State Marco Rubio and Australia's Foreign Minister Penny Wong pose for photographs at the Quad Foreign Ministers’ Meeting on the sidelines of the G20 foreign ministers' meeting in Atlanta, Georgia, US, October 31, 2026. | Photo Credit: ERIK S. LESSER External Affairs Minister S Jaishankar on Saturday called on the G20 to resist “predatory practices”, promote “the right to industrialise” and work towards the “de-politicisation of markets” as the grouping’s Foreign Ministers’ Meeting in Atlanta concluded with a session on supply chains. “The @G20org #Atlanta today concluded with the Plenary III focused on Supply Chains,” EAM Jaishankar said in a post on X after the session. Outlining the issues he raised, he said, “Securing supply chains and ensuring their resilience is today central to the well-being of the global economy.” “The right to industrialise must be promoted; predatory practices and targeting competition should be firmly resisted,” he said. EAM Jaishankar said, “Diversification and de-risking, including in connectivity, is the key to supply chain resilience, threatened by pandemics, conflicts, climate events and mishaps.” He also said, “De-concentration of the global economy and optimisation of production across geographies can discourage the weaponisation of finance, resources, production and market share.” “G20 countries must reconcile their national interests for the collective good by promoting transparent and multiple supply chains, making the global economy truly multi-stakeholder,” EAM Jaishankar said. US Secretary of State Marco Rubio, who hosted the meeting, likewise placed supply chains at the centre of the closing session. “At the closing @G20org Foreign Ministers’ Meeting, I made clear to our partners that secure supply chains are essential for growth,” Rubio said in a post on X. “Critical trade routes, including the Strait of Hormuz and the Bab al-Mandeb Strait, must remain secure and open to commerce. And we must continue to strengthen and expand critical mineral supply chains to protect our future,” he said. Earlier on Saturday, EAM Jaishankar took part in the Quad Foreign Ministers’ Meeting in Atlanta with Rubio, Japan’s Foreign Minister Toshimitsu Motegi and Australia’s Foreign Minister Penny Wong.

At G20 meeting, Jaishankar pushes for transparent and diversified global supply chains
Asia-Pacific
Channel NewsAsia

Indonesia sends oxygen bus to aid residents choking on forest fire haze

An "oxygen bus" in Central Kalimantan is offering residents relief from choking wildfire haze, with medical staff administering oxygen as respiratory illnesses surge. A resident receives oxygen from a free mobile oxygen bus deployed by the city government amid haze from wildfires in Palangka Raya, Central Kalimantan province, Indonesia, Oct 23, 2026. (Photo: Reuters/Arief Rahman Septian Prathama) PALANGKA RAYA, Indonesia: A bus fitted out with oxygen tanks is providing a sanctuary in a city on Indonesia's Borneo island where people are choking from forest-fire-induced haze and the blazes show no sign of letting up. Indonesia regularly battles seasonal forest fires, predominantly on Sumatra and Borneo islands, but this year the infernos are the most intense in more than a decade. An intense El Nino weather phenomenon has driven up temperatures, leaving the country's vast forests and peatlands more vulnerable to fires that have turned skies orange across Indonesia, Malaysia and Singapore. As respiratory illnesses increased in the Central Kalimantan city of Palangka Raya, the local government provided an "oxygen bus" replete with oxygen tanks and medical professionals who offer residents a chance to be hooked up to a small tube around their nose for 5 to 10 minutes at a time. "The service is intended to help people access oxygen, particularly those experiencing respiratory problems or who need oxygen support amid unhealthy air quality conditions," the Central Kalimantan provincial health department said on Instagram this week. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less A mobile oxygen bus deployed by the city government is parked along a road amid haze from wildfires in Palangka Raya, Central Kalimantan province, Indonesia, Oct 23, 2026. (Photo: Reuters/Usep Hariadi) Residents receive oxygen from a free mobile oxygen bus deployed by the city government amid haze from wildfires in Palangka Raya, Central Kalimantan province, Indonesia, Oct 23, 2026. (Photo: Reuters/Arief Rahman Septian Prathama) Indonesia's air pollution index has shown some areas of Borneo and Sumatra registering pollution levels of over 1,000, with readings of 300 or more already categorised as hazardous. Respiratory illnesses linked to the fires have risen, with about 350,000 cases from August to Oct 25, the health ministry said. Central Kalimantan reported about 31,000 cases as of Oct 25. "This is a disaster from nature and there is not much we can do," Oktawina, 44, who like many Indonesians goes by one name, said with an oxygen tube hooked to her nose. Medical staff on the white-and-blue bus recorded patients' details and administered oxygen to residents reporting breathing difficulties. One of them, Yuda, said most residents who came to the bus coughing or had trouble breathing. Purnasari, 31, another patient on the bus, said: "If I've been out of the house lately I feel tightness and coughing ... because this morning the thick yellowish smoke so my breathing feels tight." Hundreds of students protested at the office of the provincial governor last week demanding a greater response to the fires, local news website Kompas reported.

Indonesia sends oxygen bus to aid residents choking on forest fire haze
Europe
BBC Business

Rosebank: Life on the oil field at the centre of a political storm

ByJames CookScotland editor, Reporting fromRosebank oil fieldPublished3 hours agoWhen we landed by helicopter at Rosebank, this oil field was at the centre of a political storm - and set to be in the path of a real one. We arrived on Wednesday morning, just a few hours after the UK government had granted consent for the production of gas from the Jackdaw field in the North Sea. But already attention was shifting to this wild and windy patch of the North Atlantic – the next big decision for Energy Secretary Miatta Fahnbulleh. Rosebank is bigger than Jackdaw, it would generate higher greenhouse gas emissions, and it could be far more lucrative for its owners, Adura and Ithaca. This summer, along with a camera crew, I travelled to Jackdaw, 150 miles east of Aberdeen. We came here - days before Storm Boelo arrived with strong winds and heavy rain - to scrutinise a controversial project which is at the heart of a national debate about climate change, energy policy and the economy. "It's good fun, it's interesting, every day can change," said Nicola Boyd, who runs the helideck, and greeted us as we struggled out of our lifejackets and survival suits. Boyd has worked offshore for nearly a decade, including a year on Rosebank - where she spends two weeks at a time followed by three weeks' leave. Unlike the fixed Jackdaw platform, this installation – 80 miles north west of Shetland – is a large ship, a floating production, storage and offloading vessel (FPSO) named the Petrojarl Rosebank. It's been chartered by the field's owners from Aberdeen-based Altera and, during my 48 hours on board, it was constantly but gently rolling on the North Atlantic swell. With the understatement typical of an Orkney islander, lead mechanical technician Ewan Leonard told me the winter weather could be "a bit of a challenge." "Last week we had a 30m heave coming through," he said, referring to the swell, "so we'll probably suffer more of that as the winter goes on."

Rosebank: Life on the oil field at the centre of a political storm
North America
CNBC Finance

Boeing wins FAA approval for 737 Max 10 after years of delays as Duffy says certification process should be faster

The Federal Aviation Administration on Tuesday signed off on the Boeing 737 Max 10 after years of delays, a major win for the manufacturer and the last in Boeing's best-selling family of jets to get government approval. The green light comes weeks after federal officials reviewed a navigation system glitch on the aircraft but deemed it was not a safety-of-flight issue. Transportation Secretary Sean Duffy told CNBC's Phil LeBeau that safety is paramount, but he also said the U.S. needs to improve its certification process. "It takes Boeing, to certify an aircraft in Europe, about half the time, less than half the time that it does in the U.S. You have China now playing to take over in aviation," Duffy said. "We have to certify aircraft more quickly if we're going to compete as Americans." The 737 Max 10, the largest model in the family that can seat up to 230 people, was set to start flying in 2020, but increased scrutiny following two Max crashes in 2018 and 2019 and other safety issues delayed its certification. Engineering changes were also required, including to an anti-icing system for the aircraft's engines. Max 10 customers include Alaska Airlines, American Airlines, United Airlines and Delta Air Lines. Boeing said the Max 10 makes up about 30% of its Max backlog. Airlines can finally start flying passengers soon after planes are certified, but it can take months for carriers to work them into schedules. "Completing the certification program clears the path for us to deliver a Boeing airplane that will set a new standard in commercial aviation," Stephanie Pope, CEO of Boeing's commercial airplane unit, said in a news release. United CEO Scott Kirby told CNBC in August that the airline had been waiting so long for the Max 10 that the lie-flat seats it expected for the plane no longer make sense and are sitting in a warehouse. Alaska Airlines last month said it plans to put lie-flat seats on some of its 737 Max 10s in a push for more premium offerings. The FAA approved the smallest model of the 737 Max family, the Max 7, in early August. Boeing has been working to ramp up production of its 737 Maxes and 787 Dreamliners, which are key to its recovery since airlines and other customers pay the bulk of the aircraft's price upon delivery. The manufacturer opened a fourth production line in Everett, Washington, in July for its 737 Max airplanes. Get this delivered to your inbox, and more info about our products and services.

Boeing wins FAA approval for 737 Max 10 after years of delays as Duffy says certification process should be faster
Asia
The Hindu BusinessLine

Sensex today | Stock Market Live: Sensex opens flat, Nifty 50 near 22,950 amid global headwinds; Reliance, Jio results in focus; Bitcoin sinks below $79,000

India’s top most valued companies — Reliance Industries and the recently-listed Jio Platforms — will announce their quarterly numbers that are most likely after market hours. However, global cues are weak, with Nasdaq plunging 365 points, dragged by Google’s Alphabet. With Brent crude hovering near $115.40 a barrel, the duration of the oil shock remains a key concern for Indian equities. Markets staged their strongest single-day rally in weeks on Thursday, with the Sensex closing at 74,151.04, up 905.01 points or 1.24 per cent, and the Nifty 50 ending at 22,936.75, gaining 237.90 points or 1.05 per cent, as a combination of the US Federal Reserve’s rate hold, easing crude oil prices and renewed institutional buying drove broad-based gains across sectors. Buzzing stocks update: NIIT completes Bluewater acquisition; Sagility stake sale planned; IDBI Bank bid round; NBCC e-auction success; OnMobile expands distribution; JV partnerships and key results. Sun Pharmaceutical Industries announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for ILUMYA® (tildrakizumab-asmn) for the treatment of adults with active psoriatic arthritis (PsA). Top gainers of Nifty 50: Trent (+5.60%), Sun Pharma (+1.98%), Infosys (+1.66%), TCS (+1.31%), Tech Mahindra (+1.24%), HCL Tech (+1.22%) Top losers: Coal India (-1.58%), BEL (-1.35%), Neslte (-1.24%), Tata Steel (-1.04%), Shriram Finance (-1.90%) Sensex inched up 18.92 pts or 0.03% to 74,169.96 at 9.19 am after opening flat at 74,199.69 from 74,151.04 previous close. Nifty 50 was up 1.85 pts or 0.01% to 22,938.60. “Gold prices remained volatile through the week but recovered some ground after the sharp correction in the previous week. Changing expectations around US interest rates, dollar movements and geopolitical developments continued to influence market sentiment. From the Indian bullion industry’s perspective, buying remains measured. While the recent correction has encouraged some consumers to return to the market, elevated prices are keeping buyers cautious. Overall, the market is showing signs of stabilisation, but volatility is likely to continue, with global economic cues and currency movements driving prices in the coming days.” Govt and LIC to retain residual IDBI Bank stakes amid strategic restructuring, aiming for upside gains from the Fairfax deal.

Sensex today | Stock Market Live: Sensex opens flat, Nifty 50 near 22,950 amid global headwinds; Reliance, Jio results in focus; Bitcoin sinks below $79,000
Europe
BBC Business

Faisal Islam: Inflation and borrowing figures illustrate chancellor's Budget challenge

Image source, Getty ImagesByFaisal IslamEconomics editorPublished21 October 2026, 11:03 BSTUpdated 1 hour agoThe Chancellor was on a early flight to North East Scotland on Wednesday to announce new North Sea energy approvals as the last set of major economic figures dropped. From a mile high, as well as close up, the figures for inflation and for the public finances set out his Budget balancing act in clear terms. The National Debt has topped £3 trillion for the first time in the official figures. The headline rate of inflation has hit 3.5% and is surely heading back up to 4% in the coming months. Borrowing is running ahead of forecasts, as spending and interest costs increase. These show the constraints for John Healey as he puts the finishing touches to his statement next week. On the one hand he says he wants to give "breathing space" to consumers yet again feeling the heat from cost of living pressures. The public finances remain under pressure, however, from the double whammy of rising inflation and borrowing costs. While inflation was of course expected to increase as petrol and diesel prices surged, in some cases, to records, other measures of underlying inflation also increased. From airfares to computer game download prices, there are the first signs of stickier forms of price pressure and of higher inflation becoming more embedded, suggesting elevated price rises are not temporary. Capital Economics now expects the main measure of inflation to peak at 4.2% next year. The Bank of England carefully watches services inflation and core inflation, and this ups the odds significantly for a rise in interest rates next month. The services sector, which includes everything from law and banking to retail, hospitality and tourism, makes up the vast majority of the UK's economic output.

Faisal Islam: Inflation and borrowing figures illustrate chancellor's Budget challenge
North America
CNBC Finance

United Airlines slashes 2026 profit outlook on fuel prices, but travelers keep booking despite higher fares

United Airlines is slashing its profit forecast for the year as fuel costs continue to bite, but the carrier said passengers keep booking. United said Tuesday that it expects to earn between 50 cents and $1.50 a share on an adjusted basis in the fourth quarter, well below the $1.76 a share Wall Street analysts expected. At the high end of that range, it would bring United's 2026 adjusted earnings to no more than $7.22 per share. In mid-July, United said it was expecting full-year earnings of $9 to $11 a share. The carrier expects to pay an average of $4.80 a gallon for fuel in the fourth quarter, up from an average price of $3.90 a gallon in the third. A surge in fuel prices this year has added billions of dollars to airlines' costs, eating into profits, despite strong demand, and driving up airfares. Here is what United Airlines reported for the quarter that ended Sept. 30 compared with what Wall Street was expecting, based on estimates compiled by LSEG: United's third-quarter net income rose 8.5% from a year earlier to $1.03 billion, or $3.14 a share. During the same period last year its net income totaled $949 million, or $2.90 a share. "Our employees met the challenge of our ever-changing environment and our results prove the resilience of focusing on building a brand-loyal airline for customers," United CEO Scott Kirby said in an earnings release. United's fuel bill rose close to 62% in the quarter from a year earlier to $4.84 billion. Revenue for the three months ended Sept. 30 rose 17.4% from a year earlier to $17.88 billion, compared with $15.23 billion the year before. Domestic passenger unit revenue rose 14.5% from a year earlier, while international unit revenue was up 17.4%, a sign of higher fares. Passengers continue to book, United said, with passenger counts up more than 2% from last year. Adjusting for one-time items, United reported net income of $833 million or $2.54 a share. Get this delivered to your inbox, and more info about our products and services.

United Airlines slashes 2026 profit outlook on fuel prices, but travelers keep booking despite higher fares
Europe
BBC Business

Inflation and government borrowing highest for a year ahead of next week's Budget

Image source, Getty ImagesByTom EspinerBusiness reporterPublished21 October 2026, 07:08 BSTUpdated 1 hour agoUK inflation and government borrowing both hit their highest in a year on Wednesday, adding to the pressure on Chancellor John Healey ahead of his first Budget in a week. The pace of UK price rises accelerated to 3.5% in the year to September, pushed up by sharp increases in petrol and diesel prices. The inflation figures came as UK government borrowing jumped to nearly £25bn in September, which means borrowing for the financial year to date is running £6bn above official forecasts. Healey has promised a Budget which will keep to Labour's commitment not to hike the three main taxes - income tax, National Insurance and VAT - while sticking to the party's fiscal rules. Inflation, the rate at which prices are rising, jumped from 3.1% in the year to August to 3.5% in the year to September. It is the highest inflation has been since October 2025, according to the Office for National Statistics (ONS). The cost of filling up a vehicle has soared in recent months as conflicts in the Middle East and Europe continue to squeeze global oil supplies. The effective closure of the Strait of Hormuz by Iran after US and Israeli attacks has severely disrupted a major global supply line for crude oil, while oil refining capacity has been hampered globally by Russian and Ukrainian attacks on each other's infrastructure after Russia's invasion of Ukraine. Petrol prices in September were the highest since August 2022, the ONS said, while diesel also rocketed. The average price of petrol rose by 8.2p per litre to 169.5p per litre between August and September, while diesel rose to 192.5p per litre. ONS chief economist Grant Fitzner said September's "notable" increase meant inflation was at its highest rate in almost a year. As well as fuel prices, the increase was driven by rising prices for airfares, computer games and live events, Fitzner said. September's inflation figure is also important because it suggests how benefits will increase next April.

Inflation and government borrowing highest for a year ahead of next week's Budget
Asia-Pacific
The Straits Times

ASEAN labour statistician network launched ahead of Singapore’s 2027 chairmanship

SINGAPORE - Businesses and workers can benefit from a more coordinated system of data collection and analysis, as ASEAN member states join a new network to strengthen workforce planning across the region. The ASEAN Labour Statisticians Network (ALSN), which launched on Oct 27, aims to help member states identify emerging trends jobs and skills earlier and ensure sustained cooperation among countries. This comes ahead of the Republic’s ASEAN chairmanship in 2027. The platform aims to create a stronger regional community where knowledge, methodologies and expertise can be shared. This comes amid rapid changes to jobs and skills across ASEAN and globally as demographic shifts and artificial intelligence reshape labour markets. Singapore has been endorsed to establish and lead the network in the next five years to foster and strengthen cooperation among labour experts, statistical communities and policymakers to navigate the future of work. “As the world of work evolves, our statistics must keep pace to support our policymakers,” said the Ministry of Manpower’s permanent secretary Stanley Loh in his welcome address at the network’s inaugural forum held at Sheraton Towers on Oct 27. “We need to review what we measure, improve how we collect information and ensure that our findings address the questions policymakers need answered,” he said. He noted that as ASEAN’s labour markets differ in economic structures, demographic profiles and policy priorities, their statistical systems bring different strengths and experiences. “Yet many of us are tackling similar measurement challenges. By sharing methods and testing approaches together, we can develop useful answers faster and make better use of our resources,” he said. A new office, led by MOM’s Manpower Research and Statistics Department, will support the implementation of the network’s priorities and maintain cooperation between meetings. Each ASEAN country may nominate up to two focal points from relevant labour statistical or research institutions to join ALSN, and the office will work with the respective representatives to identify priorities and develop joint projects. Ministry of Manpower’s permanent secretary Stanley Loh said ASEAN countries are tackling similar measurement challenges, and make better use of shared resources. At the forum, which brought together over 150 leading labour market experts from ASEAN, MOM’s Loh also announced the launch of a regional knowledge portal. It will serve as a platform which pulls together methodologies, research findings, practical tools and lessons from member states, making it easier for teams to access and build on one another’s work. Ritash Sarna, the Chief Statistician of the International Labour Organisation, said in his keynote speech that international statistical standards don’t require every country to adopt the same policy.

ASEAN labour statistician network launched ahead of Singapore’s 2027 chairmanship