2025-10-05 08:10
TRIPOLI, Oct 5 (Reuters) - The North African branch of Italian energy company Eni(ENI.MI) , opens new tab has resumed its exploration drilling in an offshore area northwest of Libya after a five-year hiatus, the Libyan state-run National Oil Corporation (NOC) said on Sunday. In 2024, Eni and British oil giant BP (BP.L) , opens new tab have resumed exploration in Libya after onshore drilling was halted in 2014, the year when the North African country's civil war erupted and divided the country between two administrations. Sign up here. Eni resumed operations in a well where drilling operations were halted in 2020 due to the COVID-19 pandemic, NOC said. https://www.reuters.com/business/energy/italys-eni-resumes-drilling-offshore-area-northwest-libya-after-five-year-hiatus-2025-10-05/
2025-10-05 08:02
Foxconn's Q3, September revenue hit records Foxconn benefiting from surge in AI demand Foxconn to report broader Q3 results on Nov 12 TAIPEI, Oct 5 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker, reported record third-quarter revenue on strong demand for artificial intelligence products, though it missed the market forecast and offered caution about exchange rates. Revenue for Nvidia's biggest server maker and Apple's (AAPL.O) , opens new tab top iPhone assembler jumped 11% from the same quarter last year to T$2.057 trillion ($67.71 billion), Foxconn said in a statement on Sunday. Sign up here. While that was below the T$2.134 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate, Foxconn said the result was better than expected. On a U.S. dollar basis, Foxconn (2317.TW) , opens new tab said third quarter revenue rose 16.1% on year. The Taiwan dollar has strengthened some 8% so far this year against the greenback. Strong AI demand led to robust revenue growth for its cloud and networking products division. Smart consumer electronics, which includes iPhones, posted a slight revenue decline, affected by exchange rates, the company said. September revenue rose 14.2% on year to T$837.1 billion, a record for that month. Operations are expected to "maintain sequential quarterly growth as AI server shipments continue to ramp up in the fourth quarter" and due to the traditional peak season ahead of year-end holidays in major Western markets, the company said. "However, the impact of the global political and economic situation and exchange rate fluctuations will need continued close monitoring," it added, without elaborating. Foxconn, formally called Hon Hai Precision Industry, does not provide numerical forecasts. It will report third quarter earnings on November 12. Foxconn's shares have risen 23% this year, outperforming the 16% rise for the Taiwan market (.TWII) , opens new tab. The stock closed up 0.44% on Friday ahead of the revenue data release, compared with a 1.45% gain for the benchmark index. ($1 = 30.3800 Taiwan dollars) https://www.reuters.com/world/asia-pacific/foxconn-third-quarter-revenue-jumps-11-yryr-2025-10-05/
2025-10-05 07:37
DOHA, Oct 5 (Reuters) - QatarEnergy agreed with Shell (SHEL.L) , opens new tab to acquire a 27% participating interest in a block offshore Egypt from the oil and gas major, it said in a statement on Sunday. QatarEnergy has in recent years acquired stakes in oil and gas basins including in Guyana, Lebanon, Namibia and South Africa as part of a strategy to expand its global presence. Sign up here. It recently also acquired several exploration blocks offshore Egypt. The agreement, still subject to Egypt's approval, stipulated that Shell will retain a 36% participating interest as operator of the North Cleopatra block. Chevron (CVX.N) , opens new tab also holds a 27% participating interest and Egyptian oil and gas firm Tharwa Petroleum Company holds 10%. The North Cleopatra block is located in the frontier Herodotus basin in the eastern Mediterranean Sea. It covers an area of over 3,400 square km (1,313 square miles) in water depths of up to 2,600 m (8,530 ft), QatarEnergy said. https://www.reuters.com/business/energy/qatarenergy-acquires-27-participating-interest-offshore-egypt-block-shell-2025-10-05/
2025-10-05 07:16
SHANGHAI, Oct 5 (Reuters) - Typhoon Matmo hit southern China on Sunday, the state broadcaster said, after flights and many events had been cancelled in the island province of Hainan, causing disruption in a peak holiday season. Matmo, which caused flooding in the Philippines last week, made landfall on the east coast of Xuwen in Guangdong province around 2:50 p.m. (0650 GMT). Sign up here. It was generating winds of 151 kph (94 mph) as it approached China's coastline, the national meteorological centre said. The typhoon was arriving in the middle of the eight-day holiday that started with National Day on Wednesday, during which people are expected to make around 2.36 billion trips, according to estimates reported by state media. Flights and ferries in the holiday hub of Hainan had already been cancelled from Saturday evening in anticipation of Matmo's strong winds and heavy rains. https://www.reuters.com/business/environment/typhoon-matmo-hits-southern-china-during-peak-holiday-season-2025-10-05/
2025-10-05 05:54
Oct 5 (Reuters) - Bitcoin, the world's largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7% at $125,245.57 at 0512 GMT. Bitcoin's previous record was $124,480 in mid-August, buoyed by friendlier regulations from U.S. President Donald Trump's administration and strong demand from institutional investors. Sign up here. The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in U.S. equities and inflows into bitcoin exchange-traded funds. In contrast, the U.S. dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a U.S. government shutdown clouded the outlook and delayed key data releases, such as payrolls, critical for gauging the economy's direction. https://www.reuters.com/world/asia-pacific/bitcoin-hits-all-time-high-above-125000-2025-10-05/
2025-10-05 05:28
Rescue efforts in Nepal are ongoing, officials say In West Bengal in India, seven dead due to landslides, local media report Several roads blocked in Nepal and bordering areas KATHMANDU, Oct 5 (Reuters) - Heavy rains triggered landslides and flash floods blocking roads, washing away bridges and killing at least 47 people since Friday in Nepal, officials said on Sunday. Thirty-five people were killed in separate landslides in the Ilam district in the east bordering India, said Kalidas Dhauboji, a spokesperson for the Armed Police Force. Sign up here. Nine people were missing after being washed away by floods and three others were killed in lightning strikes elsewhere in Nepal, he added. “Rescue efforts for the missing persons are going on,” said Shanti Mahat, a National Disaster Risk Reduction and Management Authority spokesperson in Nepal. Across the border in the eastern Indian hill region of Darjeeling in West Bengal, at least seven people were killed due to landslides following heavy rainfall, according to local media reports. "Seven dead bodies have already been recovered from the debris. We have information about two more people. Work is being done to recover their bodies too," Abhishek Roy, a Darjeeling district police official said on Sunday, according to a post from Indian news agency ANI on social media platform X. Several highways have been blocked by landslides and washed away by floods, stranding hundreds of passengers, authorities said. "Domestic flights are largely disrupted but international flights are operating normally,” said Rinji Sherpa, a spokesperson for Kathmandu airport, Nepal's biggest international gateway. In southeastern Nepal, the Koshi River, which causes deadly floods in the eastern Indian state of Bihar almost every year, was flowing above the danger level, a district official said. Dharmendra Kumar Mishra, district governor of Sunsari district, said all 56 sluice gates of the Koshi Barrage had been opened to drain out water compared with about 10 to 12 during a normal situation, adding that authorities had banned vehicular traffic on the bridge. In hill-ringed Kathmandu, several rivers have flooded roads and inundated many houses, cutting the temple-studded capital off from the rest of the country by road. Hundreds of people die every year in landslides and flash floods that are common in mostly mountainous Nepal during the monsoon season, which normally starts in mid-June and continues through mid-September. Weather officials said rains were likely to lash the Himalayan nation until Monday and authorities said they were taking “maximum care and precautions” to help people affected by the disaster. https://www.reuters.com/business/environment/heavy-rains-kill-least-22-nepal-block-roads-2025-10-05/
