Trump unveils $19.16 billion planned Iowa steel project
Donald Trump unveiled Mesabi Metallics' planned $15 billion steel mill in Iowa, touting a massive manufacturing boost ahead of midterm elections.
Business
Oil prices slide about 2% as US, Iran explore path out of war
Oil prices fell about 2% amid hopes of a US-Iran truce and talk of a potential US diesel export ban, offsetting Middle East supply disruption concerns.
Investment alone not enough for ASEAN firms to capture opportunities: Gan Kim Yong
DPM Gan Kim Yong stated that ASEAN businesses must upgrade value chains, build capabilities, and upskill workers, as investment alone is insufficient to capture emerging opportunities.
Singapore’s core inflation climbs to 2.2% in August
Singapore’s core inflation rose to 2.2% in August, driven by higher costs for services, retail, and food. Overall inflation also increased to 2.3%.
South Korea plans to cut its reliance on Middle crude oil imports to 50% by 2035
South Korea aims to reduce its reliance on Middle Eastern crude oil imports to 50% by 2035 to diversify its energy supply chains.
US stocks: Nasdaq reaches record high close, AI stocks rally
Boosted by a rally in AI-related chip stocks, the Nasdaq closed at a record high. Meanwhile, the S&P 500 ended flat and the Dow Jones declined.
Binance under US scrutiny over possible Iran sanctions violations, Bloomberg News reports
US prosecutors are investigating whether cryptocurrency exchange Binance violated sanctions on Iran by allowing prohibited trading on its platform, according to Bloomberg.
US stocks: Nasdaq notches record-high close, AI optimism reignites and Treasury yields retreat
The Nasdaq hit a record-high close on Monday, driven by surging AI chip stocks. All major US indices rose, while Treasury yields and oil prices declined.
Alibaba unveils powerful AI chip to drive global data centre expansion
Alibaba launched its most powerful AI chip, the Zhenwu V900, to compete with Nvidia and power a massive global data center expansion.
Asia stocks rise on AI, US-China trade talks optimism
Asian stock markets rose on Monday, boosted by global demand for AI and optimism surrounding constructive trade and technology talks between US and Chinese officials.
AI gains' distribution will shape inflation, ECB's Panetta says
ECB's Fabio Panetta says central banks must understand who benefits from AI, as the distribution of its gains will shape aggregate demand and inflation.
Meta's Facebook, Instagram recover after brief outage in US
Meta's Facebook and Instagram have recovered after a brief outage on Sunday that disrupted services for thousands of users in the United States.