Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday. &nbsp;

Martine Aubry, his daughter,&nbsp;confirmed that Delors died in his sleep at his home in Paris.&nbsp;

Delors, known for his unwavering support for European integration, served as the President of the European Commission for three terms, from January 1985 to the end of 1994.&nbsp;

His dynamic leadership during this decade saw the completion of the integrated single market, the agreement to introduce the euro, and the establishment of a common foreign and security policy. &nbsp;

During Delors's influential term leading the EU executive, the union grew and the groundwork was laid for the eventual admittance of the former communist republics of central and eastern Europe following the collapse of the Berlin Wall in 1989. &nbsp;

A staunch federalist, Delors championed the concept of an "ever closer union", leading to occasional clashes with then-UK Prime Minister Margaret Thatcher, who vigorously resisted any transfer of power to Brussels. &nbsp;

Delors' vision for monetary union drew attention, with The Sun tabloid in Britain famously running a front-page headline in 1990 reading 'Up Yours Delors'.&nbsp;

French President Emmanuel Macron hailed him as the "inexhaustible architect of our Europe" and a champion for human justice.

Michel Barnier, the EU's chief negotiator during Brexit, described Delors as an inspiration and a symbol of a certain idea of politics, France, and Europe.&nbsp;

Delors' influence extended beyond national borders, shaping the trajectory of European politics and fostering collaboration among member states. &nbsp;

In an interview marking the 50th anniversary of the Treaty of Rome in 2007, Delors expressed concerns about the EU unravelling unless institutional reforms were implemented. &nbsp;

Delors had foreseen the challenges facing the EU, warning of potential unravelling without reforms. Despite subsequent geopolitical shifts and the departure of member states, including Britain, Delors' legacy endures, with European Commission President Ursula von der Leyen acknowledging him as a 'visionary who made Europe stronger'.&nbsp;

(With inputs from Reuters)&nbsp;

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Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday. Martine Aubry, his daughter, confirmed that Delors died in his sleep at his home in Paris.

Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday. Martine Aubry, his daughter, confirmed that Delors died in his sleep at his home in Paris. Delors, known for his unwavering support for European integration, served as the President of the European Commission for three terms, from January 1985 to the end of 1994. His dynamic leadership during this decade saw the completion of the integrated single market, the agreement to introduce the euro, and the establishment of a common foreign and security policy. During Delors's influential term leading the EU executive, the union grew and the groundwork was laid for the eventual admittance of the former communist republics of central and eastern Europe following the collapse of the Berlin Wall in 1989. A staunch federalist, Delors championed the concept of an "ever closer union", leading to occasional clashes with then-UK Prime Minister Margaret Thatcher, who vigorously resisted any transfer of power to Brussels. Delors' vision for monetary union drew attention, with The Sun tabloid in Britain famously running a front-page headline in 1990 reading 'Up Yours Delors'. French President Emmanuel Macron hailed him as the "inexhaustible architect of our Europe" and a champion for human justice. Michel Barnier, the EU's chief negotiator during Brexit, described Delors as an inspiration and a symbol of a certain idea of politics, France, and Europe. Delors' influence extended beyond national borders, shaping the trajectory of European politics and fostering collaboration among member states. In an interview marking the 50th anniversary of the Treaty of Rome in 2007, Delors expressed concerns about the EU unravelling unless institutional reforms were implemented. Delors had foreseen the challenges facing the EU, warning of potential unravelling without reforms. Despite subsequent geopolitical shifts and the departure of member states, including Britain, Delors' legacy endures, with European Commission President Ursula von der Leyen acknowledging him as a 'visionary who made Europe stronger'. (With inputs from Reuters) WATCH WION LIVE HERE

Former EU Commission President Jacques Delors, architect of euro project, dies at 98 

WION's&nbsp;Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;<o:p></o:p>

Guyana-Venezuela tensions: How oil discovery revived&nbsp;Essequibo&nbsp;crisis<o:p></o:p>

On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/guyana-venezuela-tensions-how-oil-discovery-revived-essequibo-crisis-674201">Read more here</a><o:p></o:p>

Former EU Commission President Jacques Delors, architect of euro project, dies at 98<o:p></o:p>

Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday. <o:p></o:p>

<a href="https://www.wionews.com/business-economy/former-eu-commission-president-jacques-delors-architect-of-euro-project-dies-at-98-674182">Read more here</a><o:p></o:p>

Dollar slides to 5-month low against Euro as Fed signals possible rate cuts<o:p></o:p>

The US dollar hit a five-month low against the euro and a basket of currencies on Wednesday, driven by expectations that the Federal Reserve might consider cutting interest rates. &nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/dollar-slides-to-5-month-low-against-euro-as-fed-signals-possible-rate-cuts-674246">Read more here</a><o:p></o:p>

General Motors sues San Francisco for $121 mn over alleged tax overcharge<o:p></o:p>

General Motors (GM) has initiated legal proceedings against the city of San Francisco, seeking to recover over $100 million, alleging an unjustly inflated tax bill. <o:p></o:p>

<a href="https://www.wionews.com/business-economy/general-motors-sues-san-francisco-for-121-mn-over-alleged-tax-overcharge-674218">Read more here</a><o:p></o:p>

Amazon Prime Video subscribers will soon see ads unless they pay extra in these countries<o:p></o:p>

Amazon's Prime Video subscribers will no longer enjoy the ad-free experience unless they pay an additional $3.83 (£2.99) in some countries.<o:p></o:p>

<a href="https://www.wionews.com/trending/amazon-prime-video-subscribers-will-no-longer-have-an-ad-free-experience-unless-they-pay-extra-674272">Read more here</a>

Turkey raises minimum wage by 49pc amid soaring inflation<o:p></o:p>

In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year.&nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/turkey-raises-minimum-wage-by-49pc-amid-soaring-inflation-674277">Read more here</a><o:p></o:p>

Apple wins reprieve in smartwatch battle as appeals court lifts import ban<o:p></o:p>

Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/apple-wins-reprieve-in-smartwatch-battle-as-appeals-court-lifts-import-ban-674287">Read more here</a><o:p></o:p>

Maersk resumes Suez Canal routes amid global shipping concerns<o:p></o:p>

Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/maersk-resumes-suez-canal-routes-amid-global-shipping-concerns-674300">Read more here</a><o:p></o:p>

China unveils plan to boost domestic demand, technological self-reliance<o:p></o:p>

China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday. &nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/china-unveils-plan-to-boost-domestic-demand-technological-self-reliance-674302">Read more here</a><o:p></o:p>

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WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Guyana-Venezuela tensions: How oil discovery revived Essequibo crisis On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Guyana-Venezuela tensions: How oil discovery revived Essequibo crisis On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now. Read more here Former EU Commission President Jacques Delors, architect of euro project, dies at 98 Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday. Read more here Dollar slides to 5-month low against Euro as Fed signals possible rate cuts The US dollar hit a five-month low against the euro and a basket of currencies on Wednesday, driven by expectations that the Federal Reserve might consider cutting interest rates. Read more here General Motors sues San Francisco for $121 mn over alleged tax overcharge General Motors (GM) has initiated legal proceedings against the city of San Francisco, seeking to recover over $100 million, alleging an unjustly inflated tax bill. Read more here Amazon Prime Video subscribers will soon see ads unless they pay extra in these countries Amazon's Prime Video subscribers will no longer enjoy the ad-free experience unless they pay an additional $3.83 (£2.99) in some countries. Read more here Turkey raises minimum wage by 49pc amid soaring inflation In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year. Read more here Apple wins reprieve in smartwatch battle as appeals court lifts import ban Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo. Read more here Maersk resumes Suez Canal routes amid global shipping concerns Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms. Read more here China unveils plan to boost domestic demand, technological self-reliance China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday. Read more here WATCH WION LIVE HERE

WION Business Wrap | Guyana-Venezuela tensions, The Dollar’s 5-month low, General Motors & more

China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday. &nbsp;

China will prioritise the restoration and expansion of consumption, stabilise bulk consumption, and promote service consumption, Zheng Shanjie, head of the state economic planning body, said.

In recent months, China has implemented a series of measures to bolster its post-pandemic economic recovery.&nbsp;

However, the full recovery has been hindered by challenges in the property sector, risks associated with local government debt, and sluggish global growth.

Reiterating the importance of resolving the crisis in the property sector and keeping local debt under control, China's state planning body stressed on the need for deeper market-oriented reforms to boost development. &nbsp;

The country is also set to coordinate the resolution of risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions.

Addressing concerns over technology exports, Zheng stated, "(China) must accelerate breakthroughs in key core technologies, achieve a high level of scientific and technological self-reliance, and avoid technologies and industries being 'locked' in the low-end and middle-end." &nbsp;

This call comes amid rising tensions between the US and China over key technologies.

Meanwhile, industrial profits in China witnessed double-digit growth in November, marking the fourth consecutive month of positive trends.&nbsp;

The 29.5 per cent rise in profits, following a 2.7 per cent increase in October, signals an improvement in overall manufacturing. &nbsp;

These industrial profit numbers cover firms with annual revenues of at least $2.80 million.

However, weak demand continues to constrain business growth, prompting calls for more macro policy support.&nbsp;

State-owned firms reported a 6.2 per cent decline in earnings this year, while foreign firms saw an 8.7 per cent fall. &nbsp;

In contrast, private-sector companies posted a 1.6 per cent gain, providing a mixed outlook for China's industrial sector in 2023.

(With inputs from Reuters)

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China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday.

China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday. China will prioritise the restoration and expansion of consumption, stabilise bulk consumption, and promote service consumption, Zheng Shanjie, head of the state economic planning body, said. In recent months, China has implemented a series of measures to bolster its post-pandemic economic recovery. However, the full recovery has been hindered by challenges in the property sector, risks associated with local government debt, and sluggish global growth. Reiterating the importance of resolving the crisis in the property sector and keeping local debt under control, China's state planning body stressed on the need for deeper market-oriented reforms to boost development. The country is also set to coordinate the resolution of risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions. Addressing concerns over technology exports, Zheng stated, "(China) must accelerate breakthroughs in key core technologies, achieve a high level of scientific and technological self-reliance, and avoid technologies and industries being 'locked' in the low-end and middle-end." This call comes amid rising tensions between the US and China over key technologies. Meanwhile, industrial profits in China witnessed double-digit growth in November, marking the fourth consecutive month of positive trends. The 29.5 per cent rise in profits, following a 2.7 per cent increase in October, signals an improvement in overall manufacturing. These industrial profit numbers cover firms with annual revenues of at least $2.80 million. However, weak demand continues to constrain business growth, prompting calls for more macro policy support. State-owned firms reported a 6.2 per cent decline in earnings this year, while foreign firms saw an 8.7 per cent fall. In contrast, private-sector companies posted a 1.6 per cent gain, providing a mixed outlook for China's industrial sector in 2023. (With inputs from Reuters) WATCH WION LIVE HERE

China unveils plan to boost domestic demand, technological self-reliance

Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms. &nbsp;

The move follows a disruption in Red Sea routes, with major shipping companies, including Maersk and Hapag-Lloyd ceasing operations due to attacks by Yemen's Houthi militant group.

Maersk's decision has, however, led to a 5 per cent drop in its share price, sparking concerns of a potential correction in freight rates.

Maersk's share price decline has also impacted other shipping stocks, with Hapag-Lloyd witnessing a 6 per cent drop, Frontline falling by 5.3 per cent, and Hoegh Autoliners down by 3 per cent. &nbsp;

The market reaction reflects apprehension about the economic impact of a return to shorter routes through the Suez Canal, a move that might reverse the gains made in the past week.

On December 24, Maersk announced that it would resume Red Sea routes for both eastbound and westbound journeys, citing a US-led military operation aimed at protecting vessels from Houthi attacks. &nbsp;

The company, however, provided limited details, and the schedule is subject to change based on contingency plans that may be developed in the coming days.

France's CMA CGM is also increasing the number of vessels using the Suez Canal, signifying a broader trend of shipping companies reassessing their routes.

Maren Maersk, among the vessels listed in the advisory,&nbsp;departed Tangiers on December 24. It is expected to continue via the Suez Canal, arriving in Singapore on Jan&nbsp;14. &nbsp;

Despite this, many of Maersk's vessels are still set to circumnavigate Africa.

Since December 19, Maersk has rerouted its ships around Africa through the Cape of Good Hope to avoid attacks, imposing additional fees on customers and extending transportation times. &nbsp;

The company introduced a $700 charge for a standard 20-foot container travelling from China to Northern Europe, consisting of a $200 transit disruption surcharge and a $500 peak season surcharge. The impact of resuming some Red Sea shipments on these surcharges remains unclear.

Meanwhile, German rival Hapag-Lloyd deems the situation too risky to use the Suez Canal, opting to reroute vessels via the Cape of Good Hope. &nbsp;

Continuous assessments are being made, with a review scheduled for Friday to determine the feasibility of a Suez Canal passage.

(With inputs from Reuters)

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Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms.

Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms. The move follows a disruption in Red Sea routes, with major shipping companies, including Maersk and Hapag-Lloyd ceasing operations due to attacks by Yemen's Houthi militant group. Maersk's decision has, however, led to a 5 per cent drop in its share price, sparking concerns of a potential correction in freight rates. Maersk's share price decline has also impacted other shipping stocks, with Hapag-Lloyd witnessing a 6 per cent drop, Frontline falling by 5.3 per cent, and Hoegh Autoliners down by 3 per cent. The market reaction reflects apprehension about the economic impact of a return to shorter routes through the Suez Canal, a move that might reverse the gains made in the past week. On December 24, Maersk announced that it would resume Red Sea routes for both eastbound and westbound journeys, citing a US-led military operation aimed at protecting vessels from Houthi attacks. The company, however, provided limited details, and the schedule is subject to change based on contingency plans that may be developed in the coming days. France's CMA CGM is also increasing the number of vessels using the Suez Canal, signifying a broader trend of shipping companies reassessing their routes. Maren Maersk, among the vessels listed in the advisory, departed Tangiers on December 24. It is expected to continue via the Suez Canal, arriving in Singapore on Jan 14. Despite this, many of Maersk's vessels are still set to circumnavigate Africa. Since December 19, Maersk has rerouted its ships around Africa through the Cape of Good Hope to avoid attacks, imposing additional fees on customers and extending transportation times. The company introduced a $700 charge for a standard 20-foot container travelling from China to Northern Europe, consisting of a $200 transit disruption surcharge and a $500 peak season surcharge. The impact of resuming some Red Sea shipments on these surcharges remains unclear. Meanwhile, German rival Hapag-Lloyd deems the situation too risky to use the Suez Canal, opting to reroute vessels via the Cape of Good Hope. Continuous assessments are being made, with a review scheduled for Friday to determine the feasibility of a Suez Canal passage. (With inputs from Reuters) WATCH WION LIVE HERE

Maersk resumes Suez Canal routes amid global shipping concerns

In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year. &nbsp;

According to Bloomberg, the monthly net minimum salary will now stand at 17,002 liras ($578), as declared by Labour Minister Vedat Isikhan during a televised press conference in the capital.

This move comes at a critical juncture, with inflation projected to exceed 70 per cent in the months ahead, making it a crucial factor in the country's economic landscape.&nbsp;

This decision, crucial for over a third of the nation's workforce earning the minimum wage, marks a deviation from the previous years' dual adjustments.

Labour Minister Isikhan emphasised the government's commitment to preventing the workforce from being adversely impacted by inflation. "We fulfilled our promise not to allow our workers to be crushed by inflation," the minister affirmed.&nbsp;

The spotlight is now on credit rating agencies and investors seeking insights into Turkey's economic trajectory. The decision to increase the minimum wage is seen as a significant indicator of the country's economic policies post the May elections and in the lead-up to the municipal ballot in March.

Analysts from Wall Street, including Goldman Sachs Group Inc. and Morgan Stanley, have cautioned that a minimum wage adjustment exceeding 40-50 per cent could complicate the central bank's efforts to control inflation.&nbsp;

The challenge facing Turkey's economic leadership lies in striking a balance between addressing the cost-of-living crisis faced by the population and avoiding hindrance to the ongoing efforts to slash inflation by nearly half by the end of the next year.

Unlike previous years, where two wage adjustments were made, the government is planning a single hike for 2024.&nbsp;

Turkey's chronic inflation, reaching its highest point in almost a quarter of a century last year, has significantly eroded the purchasing power of its citizens. The decision to raise the minimum wages is a strategic move by the government to retain popular support. &nbsp;

President Recep Tayyip Erdogan, known for advocating cheap money, has revamped the economic leadership team after his re-election in May. The renewed focus is on curbing domestic demand, with the central bank drastically increasing interest rates to counter inflation. &nbsp;

The central bank projects that inflation will end this year at 65 per cent, peak above 70 per cent in May, and subsequently conclude 2024 at 36 per cent.&nbsp;

(With inputs from Bloomberg)&nbsp;

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In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year.

In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year. According to Bloomberg, the monthly net minimum salary will now stand at 17,002 liras ($578), as declared by Labour Minister Vedat Isikhan during a televised press conference in the capital. This move comes at a critical juncture, with inflation projected to exceed 70 per cent in the months ahead, making it a crucial factor in the country's economic landscape. This decision, crucial for over a third of the nation's workforce earning the minimum wage, marks a deviation from the previous years' dual adjustments. Labour Minister Isikhan emphasised the government's commitment to preventing the workforce from being adversely impacted by inflation. "We fulfilled our promise not to allow our workers to be crushed by inflation," the minister affirmed. The spotlight is now on credit rating agencies and investors seeking insights into Turkey's economic trajectory. The decision to increase the minimum wage is seen as a significant indicator of the country's economic policies post the May elections and in the lead-up to the municipal ballot in March. Analysts from Wall Street, including Goldman Sachs Group Inc. and Morgan Stanley, have cautioned that a minimum wage adjustment exceeding 40-50 per cent could complicate the central bank's efforts to control inflation. The challenge facing Turkey's economic leadership lies in striking a balance between addressing the cost-of-living crisis faced by the population and avoiding hindrance to the ongoing efforts to slash inflation by nearly half by the end of the next year. Unlike previous years, where two wage adjustments were made, the government is planning a single hike for 2024. Turkey's chronic inflation, reaching its highest point in almost a quarter of a century last year, has significantly eroded the purchasing power of its citizens. The decision to raise the minimum wages is a strategic move by the government to retain popular support. President Recep Tayyip Erdogan, known for advocating cheap money, has revamped the economic leadership team after his re-election in May. The renewed focus is on curbing domestic demand, with the central bank drastically increasing interest rates to counter inflation. The central bank projects that inflation will end this year at 65 per cent, peak above 70 per cent in May, and subsequently conclude 2024 at 36 per cent. (With inputs from Bloomberg) WATCH WION LIVE HERE

Turkey raises minimum wage by 49pc amid soaring inflation 

Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo.

The tech giant swiftly filed an emergency request with the US Court of Appeals for the Federal Circuit, seeking a halt to the US International Trade Commission's (ITC) order that claimed Apple had violated Masimo's patents. &nbsp;

The ITC had banned imports and sales of certain Apple Watches featuring blood-oxygen level reading technology, citing patent infringement.

While a final decision could potentially lead to significant financial repercussions for both companies, analysts note that the adverse publicity generated by the lawsuit may overshadow any financial impact on Apple. Following the court's decision, Masimo shares closed 4.6 per cent lower, while Apple's shares remained flat.

Apple expressed its enthusiasm to reintroduce the Apple Watch line-up to customers, stating, "We are thrilled to return the full Apple Watch line-up to customers in time for the new year." &nbsp;

The company plans to resume sales of the Apple Watch Series 9 and Apple Watch Ultra 2, featuring the blood oxygen feature, in the US.

Masimo, based in Irvine, California, refrained from commenting on the court decision. The ITC's ban, in place since Apple's Series 6 model in 2020, centred on technology for blood-oxygen level monitoring. &nbsp;

Masimo accused Apple of coaxing its employees, stealing pulse oximetry technology, and incorporating it into Apple Watches. Apple, in turn, countersued, characterising Masimo's legal actions as a strategy to pave the way for its own competing smartwatch.

Stuart Cole, Chief Macro Economist at Equiti Capital, noted that Apple's focus is not just on the blood oxygen monitoring software but also on the broader implications for its future health-wearable products. He emphasised that Apple, with its financial strength, can develop its blood monitoring software, but the public relations aspect remains a significant concern.

In response to Apple's motion for a longer-term pause during the appeals process, the appeals court issued a four-paragraph ruling, temporarily lifting the ban. The court has given the ITC until January 10 to respond to Apple's request. &nbsp;

Meanwhile, the Biden administration opted not to veto the ban, allowing it to take effect. Apple is actively exploring legal and technical options, and the US Customs and Border Protection is evaluating redesigned versions of Apple Watches to determine potential patent infringement.

This legal battle has led to a temporary pause in Apple's sales of the affected devices in the US, though they remain available through various retailers. The ban specifically targets Apple Watches with blood-oxygen monitoring, leaving the less-expensive Apple Watch SE unaffected. A jury trial earlier this year in California federal court regarding Masimo's allegations against Apple ended with a mistrial.

(With inputs from Reuters)

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Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo.

Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo. The tech giant swiftly filed an emergency request with the US Court of Appeals for the Federal Circuit, seeking a halt to the US International Trade Commission's (ITC) order that claimed Apple had violated Masimo's patents. The ITC had banned imports and sales of certain Apple Watches featuring blood-oxygen level reading technology, citing patent infringement. While a final decision could potentially lead to significant financial repercussions for both companies, analysts note that the adverse publicity generated by the lawsuit may overshadow any financial impact on Apple. Following the court's decision, Masimo shares closed 4.6 per cent lower, while Apple's shares remained flat. Apple expressed its enthusiasm to reintroduce the Apple Watch line-up to customers, stating, "We are thrilled to return the full Apple Watch line-up to customers in time for the new year." The company plans to resume sales of the Apple Watch Series 9 and Apple Watch Ultra 2, featuring the blood oxygen feature, in the US. Masimo, based in Irvine, California, refrained from commenting on the court decision. The ITC's ban, in place since Apple's Series 6 model in 2020, centred on technology for blood-oxygen level monitoring. Masimo accused Apple of coaxing its employees, stealing pulse oximetry technology, and incorporating it into Apple Watches. Apple, in turn, countersued, characterising Masimo's legal actions as a strategy to pave the way for its own competing smartwatch. Stuart Cole, Chief Macro Economist at Equiti Capital, noted that Apple's focus is not just on the blood oxygen monitoring software but also on the broader implications for its future health-wearable products. He emphasised that Apple, with its financial strength, can develop its blood monitoring software, but the public relations aspect remains a significant concern. In response to Apple's motion for a longer-term pause during the appeals process, the appeals court issued a four-paragraph ruling, temporarily lifting the ban. The court has given the ITC until January 10 to respond to Apple's request. Meanwhile, the Biden administration opted not to veto the ban, allowing it to take effect. Apple is actively exploring legal and technical options, and the US Customs and Border Protection is evaluating redesigned versions of Apple Watches to determine potential patent infringement. This legal battle has led to a temporary pause in Apple's sales of the affected devices in the US, though they remain available through various retailers. The ban specifically targets Apple Watches with blood-oxygen monitoring, leaving the less-expensive Apple Watch SE unaffected. A jury trial earlier this year in California federal court regarding Masimo's allegations against Apple ended with a mistrial. (With inputs from Reuters) WATCH WION LIVE HERE

Apple wins reprieve in smartwatch battle as appeals court lifts import ban

Honda Motor's American unit has initiated a global recall of approximately 4.5 million vehicles due to potential risks associated with fuel pump failure, according to the Japanese automaker. <o:p></o:p>

The recall encompasses 2.54 million vehicles in the United States and follows previous recalls in 2021 and 2020, totalling 628,000 and 136,000 U.S. vehicles, respectively, all for the same fuel pump issue. <o:p></o:p>

Earlier this month, Honda also issued recalls in China and Japan over the same issue.<o:p></o:p>

The recall involves various models, spanning the 2018-2020 model years, such as the Honda Accord, Civic, CR-V, HR-V, Insight, Ridgeline, Odyssey, Passport, and various Acura models, including the ILX, MDX, RDX, RLX, TLX, and NSX vehicles. <o:p></o:p>

Honda is set to replace the fuel pump module in affected vehicles, with plans to notify owners of the recall in early February. The automaker assures that the replacement parts feature greater density and expanded clearance, addressing the fuel pump issue.<o:p></o:p>

Despite the recall, Honda has reported no injuries related to the fuel pump problem but disclosed 4,042 warranty claims linked to the issue since 2018. The proactive measures aim to prevent potential safety hazards, and the recall comes just a day after Honda recalled approximately 106,030 CR-V hybrid vehicles due to the risk of fire or injury resulting from an overheated battery cable or short circuit.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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Honda Motor's American unit has initiated a global recall of approximately 4.5 million vehicles due to potential risks associated with fuel pump failure, according to the Japanese automaker.

Honda Motor's American unit has initiated a global recall of approximately 4.5 million vehicles due to potential risks associated with fuel pump failure, according to the Japanese automaker. The recall encompasses 2.54 million vehicles in the United States and follows previous recalls in 2021 and 2020, totalling 628,000 and 136,000 U.S. vehicles, respectively, all for the same fuel pump issue. Earlier this month, Honda also issued recalls in China and Japan over the same issue. The recall involves various models, spanning the 2018-2020 model years, such as the Honda Accord, Civic, CR-V, HR-V, Insight, Ridgeline, Odyssey, Passport, and various Acura models, including the ILX, MDX, RDX, RLX, TLX, and NSX vehicles. Honda is set to replace the fuel pump module in affected vehicles, with plans to notify owners of the recall in early February. The automaker assures that the replacement parts feature greater density and expanded clearance, addressing the fuel pump issue. Despite the recall, Honda has reported no injuries related to the fuel pump problem but disclosed 4,042 warranty claims linked to the issue since 2018. The proactive measures aim to prevent potential safety hazards, and the recall comes just a day after Honda recalled approximately 106,030 CR-V hybrid vehicles due to the risk of fire or injury resulting from an overheated battery cable or short circuit. (With inputs from Reuters) WATCH WION LIVE HERE

Honda recalls 4.5 mn vehicles globally over fuel pump concerns

Bayer has emerged victorious in a Roundup weedkiller cancer trial, putting an end to a troubling five-trial losing streak for the company, Reuters reported.<o:p></o:p>

The verdict was delivered on Friday by a jury in San Benito County, California Superior Court, marking a crucial win for Bayer in trials related to claims of cancer development due to Roundup exposure. <o:p></o:p>

The company, in a statement, emphasised that the verdict aligns with the evidence, asserting that "Roundup does not cause cancer and is not responsible for the plaintiff's illness." <o:p></o:p>

The plaintiff, Bruce Jones, had alleged that Roundup led to his non-Hodgkin lymphoma.<o:p></o:p>

The victory is a pivotal moment for Bayer, which had faced mounting legal challenges with around 165,000 claims asserting personal injuries attributed to Roundup. The weedkiller became part of Bayer's portfolio through its acquisition of U.S. agrochemical company Monsanto for $63 billion in 2018. <o:p></o:p>

Prior to the recent losses, Bayer had a track record of winning nine consecutive trials. With the latest win, the company has secured victory in 10 out of the last 15 trials. <o:p></o:p>

More cases are scheduled for trial in the coming year.<o:p></o:p>

The legal battles have had financial implications for Bayer, with recent losses resulting in verdicts totalling over $2 billion. Investors had expressed concerns over the company's legal strategy, prompting Bayer to reaffirm its commitment to fighting the Roundup cases in court rather than opting for settlements. <o:p></o:p>

Bayer is currently appealing the unfavourable verdicts, including punitive damages that exceed U.S. Supreme Court guidance. The outcome of these appeals will likely have more financial consequences for Bayer. <o:p></o:p>

The company however, has expressed "no appetite to write humongous checks" to settle the claims.<o:p></o:p>

While Bayer settled most Roundup cases in 2020 for up to $9.6 billion, the agreement did not cover future cases, leaving over 50,000 claims pending. <o:p></o:p>

The recent victory in the Roundup cancer trial provides a glimmer of hope for Bayer, but the legal battles are far from over.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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Bayer has emerged victorious in a Roundup weedkiller cancer trial, putting an end to a troubling five-trial losing streak for the company, Reuters reported. The verdict was delivered on Friday by a jury in San Benito County, California Superior Court, marking a crucial win for Bayer in trials related to claims of cancer development due to Roundup exposure.

Bayer has emerged victorious in a Roundup weedkiller cancer trial, putting an end to a troubling five-trial losing streak for the company, Reuters reported. The verdict was delivered on Friday by a jury in San Benito County, California Superior Court, marking a crucial win for Bayer in trials related to claims of cancer development due to Roundup exposure. The company, in a statement, emphasised that the verdict aligns with the evidence, asserting that "Roundup does not cause cancer and is not responsible for the plaintiff's illness." The plaintiff, Bruce Jones, had alleged that Roundup led to his non-Hodgkin lymphoma. The victory is a pivotal moment for Bayer, which had faced mounting legal challenges with around 165,000 claims asserting personal injuries attributed to Roundup. The weedkiller became part of Bayer's portfolio through its acquisition of U.S. agrochemical company Monsanto for $63 billion in 2018. Prior to the recent losses, Bayer had a track record of winning nine consecutive trials. With the latest win, the company has secured victory in 10 out of the last 15 trials. More cases are scheduled for trial in the coming year. The legal battles have had financial implications for Bayer, with recent losses resulting in verdicts totalling over $2 billion. Investors had expressed concerns over the company's legal strategy, prompting Bayer to reaffirm its commitment to fighting the Roundup cases in court rather than opting for settlements. Bayer is currently appealing the unfavourable verdicts, including punitive damages that exceed U.S. Supreme Court guidance. The outcome of these appeals will likely have more financial consequences for Bayer. The company however, has expressed "no appetite to write humongous checks" to settle the claims. While Bayer settled most Roundup cases in 2020 for up to $9.6 billion, the agreement did not cover future cases, leaving over 50,000 claims pending. The recent victory in the Roundup cancer trial provides a glimmer of hope for Bayer, but the legal battles are far from over. (With inputs from Reuters) WATCH WION LIVE HERE

Bayer breaks losing streak with victory in roundup cancer trial

The anticipated completion of Yandex's restructuring, a Nasdaq-listed Russian tech company is likely to be postponed until early 2024, Reuters reported.<o:p></o:p>

Often dubbed ‘Russia's Google’, Yandex has been in talks with the Kremlin for over a year to separate its Russian businesses from its Dutch parent company, Yandex NV. <o:p></o:p>

The restructuring, initially set&nbsp;for December, is a strategic move by Yandex NV to ensure certain businesses maintain access to Western markets amid sanctions related to the conflict in Ukraine. <o:p></o:p>

While progress has been made, the company is now eyeing a resolution in the first quarter of 2024. <o:p></o:p>

The delay in restructuring indicates the challenges faced by Yandex and it remains impacted by geopolitical tensions following Russia's military intervention in Ukraine in February 2022.<o:p></o:p>

Yandex aims to divest its main revenue-generating Russian businesses, including search and ride-hailing operations, to recover shareholder funds. The company then plans to focus on developing four other business lines on the international stage. <o:p></o:p>

Approval from shareholders and the Russian government remains a prerequisite for any finalised deal. <o:p></o:p>

The company has been working for months on the restructuring to ensure compliance with Western sanctions while maintaining strategic business interests. <o:p></o:p>

Reuters cited an anonymous source, who revealed&nbsp;progress made in handing over documents to lawyers. The source further&nbsp;acknowledged uncertainty about the&nbsp;completion within the month. <o:p></o:p>

Another source indicated a revised goal to conclude the deal in the first quarter of 2024.<o:p></o:p>

In a related development, Russia's central bank registered an issuance of ordinary and preferred shares for a new entity named MKAO Yandex. This new company, formed in Kaliningrad as part of the ongoing restructuring, marks a crucial step in the transformation of Yandex's business structure. <o:p></o:p>

The registration aligns with the broader strategy to reposition key assets and streamline operations.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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The anticipated completion of Yandex's restructuring, a Nasdaq-listed Russian tech company is likely to be postponed until early 2024, Reuters reported. Often dubbed ‘Russia's Google’, Yandex has been in talks with the Kremlin for over a year to separate its Russian businesses from its Dutch parent company, Yandex NV.

The anticipated completion of Yandex's restructuring, a Nasdaq-listed Russian tech company is likely to be postponed until early 2024, Reuters reported. Often dubbed ‘Russia's Google’, Yandex has been in talks with the Kremlin for over a year to separate its Russian businesses from its Dutch parent company, Yandex NV. The restructuring, initially set for December, is a strategic move by Yandex NV to ensure certain businesses maintain access to Western markets amid sanctions related to the conflict in Ukraine. While progress has been made, the company is now eyeing a resolution in the first quarter of 2024. The delay in restructuring indicates the challenges faced by Yandex and it remains impacted by geopolitical tensions following Russia's military intervention in Ukraine in February 2022. Yandex aims to divest its main revenue-generating Russian businesses, including search and ride-hailing operations, to recover shareholder funds. The company then plans to focus on developing four other business lines on the international stage. Approval from shareholders and the Russian government remains a prerequisite for any finalised deal. The company has been working for months on the restructuring to ensure compliance with Western sanctions while maintaining strategic business interests. Reuters cited an anonymous source, who revealed progress made in handing over documents to lawyers. The source further acknowledged uncertainty about the completion within the month. Another source indicated a revised goal to conclude the deal in the first quarter of 2024. In a related development, Russia's central bank registered an issuance of ordinary and preferred shares for a new entity named MKAO Yandex. This new company, formed in Kaliningrad as part of the ongoing restructuring, marks a crucial step in the transformation of Yandex's business structure. The registration aligns with the broader strategy to reposition key assets and streamline operations. (With inputs from Reuters) WATCH WION LIVE HERE

Yandex's restructuring faces delay, expected to extend into 2024

Russian President Vladimir Putin has given the green light for Rosbank to acquire stakes in key Russian companies previously owned by Societe Generale, according to a decree signed on Sunday. <o:p></o:p>

The decree specifically enables Rosbank, a part of the Societe Generale group, to purchase SocGen's interests in major Russian firms, including energy giants like Rosneft and Gazprom, as well as leading metal companies like Norilsk Nickel and Severstal. While Societe Generale chose not to comment, it was revealed that the bank had a significant exposure of 22.4 billion euros to Russia as of June 2021, as reported by the European Banking Authority (EBA).<o:p></o:p>

Societe Generale's decision to offload its separate stakes in various Russian companies was confirmed in May 2022 when it exited Russia and finalised the sale of its local unit, Rosbank, to the Interros group, linked to Russian oligarch Vladimir Potanin. <o:p></o:p>

Putin's decree is particularly noteworthy as transactions involving Russian assets by companies from nations deemed "unfriendly" due to sanctions against Russia require special approval from Moscow. <o:p></o:p>

While Societe Generale's individual holdings in Russian companies were relatively small, the combined value of the assets under consideration is said to be in the "billions of roubles."<o:p></o:p>

Although specific details of the transaction remain undisclosed, the move aligns with Russia's broader geopolitical landscape. Putin has previously characterised Western sanctions as an "economic war" against Russia, leading to frozen assets worth hundreds of billions of dollars in the West, including state assets and those of Russian businessmen.<o:p></o:p>

Societe Generale's decision to divest its Russian assets is part of a broader trend, where Western companies are adjusting their positions in Russia amid geopolitical tensions. <o:p></o:p>

It's worth noting that the acquisition comes at a time when Russian entrepreneurs are strategically gaining control of major Western assets in Russia. Examples include Russian control over Carlsberg's eight breweries and Danone's enterprises.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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Russian President Vladimir Putin has given the green light for Rosbank to acquire stakes in key Russian companies previously owned by Societe Generale, according to a decree signed on Sunday.

Russian President Vladimir Putin has given the green light for Rosbank to acquire stakes in key Russian companies previously owned by Societe Generale, according to a decree signed on Sunday. The decree specifically enables Rosbank, a part of the Societe Generale group, to purchase SocGen's interests in major Russian firms, including energy giants like Rosneft and Gazprom, as well as leading metal companies like Norilsk Nickel and Severstal. While Societe Generale chose not to comment, it was revealed that the bank had a significant exposure of 22.4 billion euros to Russia as of June 2021, as reported by the European Banking Authority (EBA). Societe Generale's decision to offload its separate stakes in various Russian companies was confirmed in May 2022 when it exited Russia and finalised the sale of its local unit, Rosbank, to the Interros group, linked to Russian oligarch Vladimir Potanin. Putin's decree is particularly noteworthy as transactions involving Russian assets by companies from nations deemed "unfriendly" due to sanctions against Russia require special approval from Moscow. While Societe Generale's individual holdings in Russian companies were relatively small, the combined value of the assets under consideration is said to be in the "billions of roubles." Although specific details of the transaction remain undisclosed, the move aligns with Russia's broader geopolitical landscape. Putin has previously characterised Western sanctions as an "economic war" against Russia, leading to frozen assets worth hundreds of billions of dollars in the West, including state assets and those of Russian businessmen. Societe Generale's decision to divest its Russian assets is part of a broader trend, where Western companies are adjusting their positions in Russia amid geopolitical tensions. It's worth noting that the acquisition comes at a time when Russian entrepreneurs are strategically gaining control of major Western assets in Russia. Examples include Russian control over Carlsberg's eight breweries and Danone's enterprises. (With inputs from Reuters) WATCH WION LIVE HERE

Putin clears Rosbank's acquisition of Societe Generale's Russian holdings

In a boost to Thailand's electric vehicle (EV) ambitions, major Japanese automakers are set to invest 150 billion baht ($4.34 billion) over the next five years, according to a Thai government spokesperson. <o:p></o:p>

The investment is poised to accelerate Thailand's transition to electric vehicles, with industry giants Toyota Motor and Honda Motor committing approximately 50 billion baht each. Additionally, Isuzu Motors and Mitsubishi Motors will contribute 30 billion baht and 20 billion baht, respectively, signalling a collective commitment to the production of electric pickup trucks.<o:p></o:p>

Thai government spokesperson Chai Wacharoke revealed that the investment aligns with the country's policy to shift from traditional combustion engine vehicles to a more sustainable EV landscape. This move comes on the heels of Thailand's Prime Minister Srettha Thavisin's recent trip to Japan, solidifying the strategic partnership between the two nations in the automotive sector. <o:p></o:p>

While Japanese automakers Toyota, Honda, Isuzu, and Mitsubishi did not comment on the matter, the investment is expected to bolster Thailand's status as the largest car producer and exporter in Southeast Asia. <o:p></o:p>

The Southeast Asian nation, eager to embrace the green revolution, aims to convert approximately one-third of its annual vehicle production, totalling 2.5 million vehicles, into electric vehicles by 2030. <o:p></o:p>

To encourage further investment and facilitate the shift to EV manufacturing, Thailand is rolling out tax cuts and subsidies. This move not only supports the government's environmental goals but also positions Thailand as an attractive destination for automotive investment. The investment by Japanese automakers comes at a crucial juncture when Chinese EV manufacturers are increasingly making substantial inroads into the Thai auto sector.<o:p></o:p>

The influx of Japanese investment complements Thailand's broader strategy of attracting global players in the electric vehicle space. Beyond Japanese automakers, Chinese companies such as BYD and Great Wall Motor have committed to investing $1.44 billion in new production facilities in Thailand. <o:p></o:p>

The government's proactive stance, coupled with the allure of incentives, has turned Thailand into a key battleground for international automakers vying for a stake in the growing EV market. <o:p></o:p>

This month, Thailand's Prime Minister Srettha showcased industrial estates to executives from U.S. EV maker Tesla, indicating the nation's openness to further international collaborations and investments in the electric vehicle sector.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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In a boost to Thailand's electric vehicle (EV) ambitions, major Japanese automakers are set to invest 150 billion baht ($4.34 billion) over the next five years, according to a Thai government spokesperson.

In a boost to Thailand's electric vehicle (EV) ambitions, major Japanese automakers are set to invest 150 billion baht ($4.34 billion) over the next five years, according to a Thai government spokesperson. The investment is poised to accelerate Thailand's transition to electric vehicles, with industry giants Toyota Motor and Honda Motor committing approximately 50 billion baht each. Additionally, Isuzu Motors and Mitsubishi Motors will contribute 30 billion baht and 20 billion baht, respectively, signalling a collective commitment to the production of electric pickup trucks. Thai government spokesperson Chai Wacharoke revealed that the investment aligns with the country's policy to shift from traditional combustion engine vehicles to a more sustainable EV landscape. This move comes on the heels of Thailand's Prime Minister Srettha Thavisin's recent trip to Japan, solidifying the strategic partnership between the two nations in the automotive sector. While Japanese automakers Toyota, Honda, Isuzu, and Mitsubishi did not comment on the matter, the investment is expected to bolster Thailand's status as the largest car producer and exporter in Southeast Asia. The Southeast Asian nation, eager to embrace the green revolution, aims to convert approximately one-third of its annual vehicle production, totalling 2.5 million vehicles, into electric vehicles by 2030. To encourage further investment and facilitate the shift to EV manufacturing, Thailand is rolling out tax cuts and subsidies. This move not only supports the government's environmental goals but also positions Thailand as an attractive destination for automotive investment. The investment by Japanese automakers comes at a crucial juncture when Chinese EV manufacturers are increasingly making substantial inroads into the Thai auto sector. The influx of Japanese investment complements Thailand's broader strategy of attracting global players in the electric vehicle space. Beyond Japanese automakers, Chinese companies such as BYD and Great Wall Motor have committed to investing $1.44 billion in new production facilities in Thailand. The government's proactive stance, coupled with the allure of incentives, has turned Thailand into a key battleground for international automakers vying for a stake in the growing EV market. This month, Thailand's Prime Minister Srettha showcased industrial estates to executives from U.S. EV maker Tesla, indicating the nation's openness to further international collaborations and investments in the electric vehicle sector. (With inputs from Reuters) WATCH WION LIVE HERE

Japanese automakers inject $4.3 billion into Thailand's EV transition

Libya's Stock Market reopened its doors on Monday in the capital, Tripoli, after being closed for over nine years due to political and security challenges. The reopening ceremony was marked by the Prime Minister of the Government of National Unity, Abdulhamid al-Dbeibah, and the Chairman of the Board of Directors, Bashir Mohamed Ashour, along with other officials ringing the bell to signify the resumption of trading.<o:p></o:p>

During the ceremony, Prime Minister al-Dbeibah expressed the importance of the stock market as a key economic instrument, stating, "The importance of the stock market is embodied in doubling the gross domestic product and helping to close the budget deficit, which reduces the burden on the state’s general budget." <o:p></o:p>

He highlighted the role of the stock market in contributing to economic growth and fiscal stability. Ashour, the Chairman of the Board, emphasised that the market's success would hinge on the "stability and development of the various sectors of the state".<o:p></o:p>

The stock market's impact is expected to extend beyond Tripoli, as it also operates a trading hall in Libya's second-largest city, Benghazi. <o:p></o:p>

According to sources, trading is anticipated to resume in Benghazi next week, marking a broader effort to restore financial activities across the country. As the market strives for success, Ashour outlined its commitment to increasing the volume of listings, signalling potential growth opportunities for companies looking to participate in the revived market.<o:p></o:p>

Despite the reopening, the initial trading day saw limited activity. Out of the ten listed companies, only three actively traded, according to Lamin Haman, the market's media adviser. <o:p></o:p>

The market, originally launched in 2006, faced interruptions in the aftermath of the NATO-backed uprising in 2011 and subsequent civil strife in 2014, leading to the suspension of trading on multiple occasions. Notably, the conflict also resulted in the division of Libya between warring eastern and western factions, complicating the nation's economic recovery.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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Libya's Stock Market reopened its doors on Monday in the capital, Tripoli, after being closed for over nine years due to political and security challenges. The reopening ceremony was marked by the Prime Minister of the Government of National Unity, Abdulhamid al-Dbeibah, and the Chairman of the Board of Directors, Bashir Mohamed Ashour, along with other officials ringing the bell to signify the resumption of trading.

Libya's Stock Market reopened its doors on Monday in the capital, Tripoli, after being closed for over nine years due to political and security challenges. The reopening ceremony was marked by the Prime Minister of the Government of National Unity, Abdulhamid al-Dbeibah, and the Chairman of the Board of Directors, Bashir Mohamed Ashour, along with other officials ringing the bell to signify the resumption of trading. During the ceremony, Prime Minister al-Dbeibah expressed the importance of the stock market as a key economic instrument, stating, "The importance of the stock market is embodied in doubling the gross domestic product and helping to close the budget deficit, which reduces the burden on the state’s general budget." He highlighted the role of the stock market in contributing to economic growth and fiscal stability. Ashour, the Chairman of the Board, emphasised that the market's success would hinge on the "stability and development of the various sectors of the state". The stock market's impact is expected to extend beyond Tripoli, as it also operates a trading hall in Libya's second-largest city, Benghazi. According to sources, trading is anticipated to resume in Benghazi next week, marking a broader effort to restore financial activities across the country. As the market strives for success, Ashour outlined its commitment to increasing the volume of listings, signalling potential growth opportunities for companies looking to participate in the revived market. Despite the reopening, the initial trading day saw limited activity. Out of the ten listed companies, only three actively traded, according to Lamin Haman, the market's media adviser. The market, originally launched in 2006, faced interruptions in the aftermath of the NATO-backed uprising in 2011 and subsequent civil strife in 2014, leading to the suspension of trading on multiple occasions. Notably, the conflict also resulted in the division of Libya between warring eastern and western factions, complicating the nation's economic recovery. (With inputs from Reuters) WATCH WION LIVE HERE

Libya's stock market resumes trading after 9-year hiatus

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