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India is aggressively seeking trade deals to open markets for exporters and soften the blow of steep US tariffs, as efforts to secure an agreement with Washington remain elusive.Relations between Washington and New Delhi plummeted in August after President Donald Trump raised tariffs to 50 percent, a blow that threatens job losses and hurts India’s ambition of becoming a manufacturing and export powerhouse.That pressure, experts say, has pushed New Delhi into a rapid diversification drive beyond its biggest market.India signed or operationalised four trade agreements last year, including a major pact with Britain — the fastest pace of dealmaking it has seen in years — and is now eyeing fresh deals.Negotiations are underway with the European Union, the Eurasian Economic Union, Mexico, Chile and the South American Mercosur trade bloc, either for new deals or to expand existing agreements.If successful, India would have trade arrangements with “almost every major economy”, said Ajay Srivastava, from the New Delhi-based Global Trade Research Initiative (GTRI).Srivastava said 2025 was “one of the most active years” for trade agreements, which he said aimed to “spread risk” rather than to pivot from Washington.- ‘Expand its destinations’ -Washington’s punishing tariffs aimed at stopping India’s purchases of Russian oil — which it says finances Moscow’s invasion of Ukraine — have driven New Delhi’s desire to grow other markets.”The strategy was a reaction, as I read it, to what Trump did,” trade economist Biswajit Dhar told AFP. “This has now become an imperative for India to actually expand its destinations.”Major deals will help labour-intensive sectors hurt by tariffs.India’s apparel export promotion council projects that the UK trade deal could help double garment exports to Britain over the next three years.The gains from a potential EU agreement could be even bigger.European Commission President Ursula von der Leyen, expected to visit New Delhi later in January, has said it would be the “largest deal of this kind anywhere in the world”.Although the two sides missed a deadline to conclude talks by the end of 2025 — reportedly over disputes related to steel and auto exports — Indian negotiators remain optimistic.German Chancellor Friedrich Merz will visit India and meet Prime Minister Narendra Modi on Monday, holding talks on “intensifying cooperation in trade and investment”, Modi’s office said in a statement.Smaller agreements also matter.Trade between Oman and India totalled less than $11 billion last financial year, but a December deal with Muscat offers “a gateway to the broader Middle East and Africa markets”, and a template for a wider “Gulf engagement strategy”, analysts at Nomura suggested.And while a free trade agreement (FTA) with New Zealand added little to Indian export growth, it secured $20 billion in foreign investment, increased visa access and showed Washington that New Delhi is willing to compromise.”The New Zealand FTA makes concessions on agricultural produce like apples, even though farmers here may have concerns,” said an Indian commerce ministry official, who declined to be identified. “Who says we can’t be flexible?” – ‘Eggs in one basket’ -India’s goods exports rose a surprising 19 percent in November 2025, reversing an October decline.While the surge was helped by electronics shipments — still exempt from US tariffs — marine product exports also posted gains.”Diversification has certainly happened,” KN Raghavan, of the Seafood Exporter Association of India said.”We have increased exports to the EU and China,” he said, adding they were the top markets after the United States.But exporters caution that alternative markets cannot fully replace the United States, with Raghavan saying a US deal is “paramount”.That remains in limbo.India’s imports of Russian oil fell sharply in December to 1.2 million barrels per day from 1.8 million per day in November, according to Kpler trade data.It is unclear if that will be enough for Trump.Pankaj Chadha, chairman of the Engineering Export Promotion Council, said diversification had become a necessity to lessen dependence on the “biggest and the most lucrative” market.”It’s better not to put all your eggs in one basket,” he said.

Towering accordion steps and a fantastical spiral staircase greet visitors to a massive bookstore in northern China’s Tianjin, where its striking interior is a bigger draw for selfie snappers than scholars.Sales of hard-copy books across the country have failed to bounce back to pre-pandemic levels, data shows, despite authorities’ efforts to boost domestic consumption and an e-commerce boom.Yet in recent years the number of physical bookshops has “maintained steady growth”, the head of a publishing industry group said last January.”A wave of bookstores with unique characteristics” has emerged, Ai Limin said.Tianjin’s Zhongshuge, which opened in September 2024, on social media draws comparisons to Harry Potter’s gothic Hogwarts.”The photos come out looking really beautiful,” said graduate student Li Mengting, who stepped inside to snap some pictures when visiting the city with a friend.But the 24-year-old, wearing a fuzzy cropped parka and a matching shoulder bag, struggled to find the perfect spot because there were “truly a lot of people inside”, she said.Tourists wielding selfie sticks and tripods thronged the central cobalt-coloured stairs, which extend into massive three-storey columns that arch onto the ceiling.Faded prints that read “The Best Spot for Photos” were plastered on the ground.- Renewed shelf life -Some bookstores in China now invest in creating interiors meant to be photographed, said Beijing-based architect Zheng Shiwei.”This has become relatively mainstream,” Zheng, whose firm the China Architecture Design and Research Group is also involved in bookstore projects, said. But, he warned, “that might lead to a lot of people going not just for the purpose of reading, which may result in some unintended consequences”.Last June, a bookstore in the eastern city of Nanjing that had become a tourist hotspot posted a notice banning flash photography, tripods, loitering and photoshoots staged without permission.The nonstop pictures at Librairie Avant-Garde “interfered with reading,” said finance worker Yuan Jia, who is from Nanjing and an avid reader.But Zheng, the architect, said bookstores curating photo-taking spaces should be encouraged.”At least people are ‘punching in’ at bookstores, right? Instead of doing that elsewhere,” Zheng said.At a bookstore in the heart of Beijing converted from a former Taoist temple, dozens of tourists strolled in to browse tables of trinkets and order tea.”Books bring in relatively low profit,” said founder Juli Hu, who opened the store in 2024.She said she welcomes people who take photos to post online and frequently sets up new cultural displays.”Selling books definitely cannot be the core of what sustains an entire bookstore,” Hu said. “There must be other things.”

Prime Minister Mark Carney on Tuesday will begin a state visit to China, the first in eight years for a Canadian leader, with aims to talk trade and rebuild ties after years of diplomatic tensions.Chinese President Xi Jinping invited Carney last October during a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, which Carney described as a “turning point” in the two nations’ strained relationship.The January 13-17 trip seeks to “strengthen cooperation in the areas of trade, energy, agriculture and international security,” a Carney spokeswoman told AFP.”It’s a huge step forward,” said Gordon Houlden, a former Canadian diplomat and director of the University of Alberta’s China Institute.Houlden told AFP that if “some of the commercial problems that are affecting our exports had a political origin, then solving the political origin may, or should, have some positive effect on the trade.”The last Canadian leader to visit China was Justin Trudeau, in December 2017.Ties withered in 2018 after the arrest of a senior executive from Chinese tech giant Huawei on a US warrant in Vancouver and China’s retaliatory detention of two Canadians on espionage charges.China has also been accused of interfering in Canadian elections in recent years.- ‘The elephant in the room’ -Carney will meet with Chinese Premier Li Qiang and business leaders for the trade negotiations, which will focus on efforts to attract new investors and secure strategic partnerships.In the face of protectionism and attacks from US President Donald Trump, he also will seek to develop new markets in order to lessen Canada’s economic dependence on its neighbor to the south.China is currently Canada’s second-largest trade partner, with bilateral trade reaching $118.7 billion Canadian dollars ($85.3 billion) in 2024.”This visit is important because China is obviously an inescapable superpower,” Guy Saint-Jacques, Canada’s ambassador to China from 2012-2016, told AFP.He said a deal on Chinese energy supplies and electric vehicles were possible outcomes from the talks.But “the elephant in the room,” he mentioned, is the thorny issue of tariffs.Since the summer of 2024, Ottawa and Beijing have clashed on trade, with Canada imposing tariffs on electric vehicles and Chinese steel, while Beijing has retaliated with levies on agricultural products including canola.”Whatever agreements Canada has with China will be scrutinized in Washington and might have implications” for three-way talks with Washington and Mexico on a free trade agreement, set to be renegotiated this year, said Vina Nadjibulla, vice president of the Asia Pacific Foundation of Canada. Carney’s challenge is “going to be to advance economic objectives while not sacrificing our national security and economic security priorities,” she added.After his trip to Beijing, Carney is scheduled to travel to Qatar for a bilateral visit and then head to Switzerland to attend the World Economic Forum annual meeting in Davos.

Stock markets advanced Friday despite mixed US jobs data, while the Supreme Court held off from a widely-anticipated ruling on many of President Donald Trump’s global tariffs for now.Meanwhile, oil prices continued to surge higher as traders worried about conditions in Iran and Venezuela.Data released early Friday showed that the US economy added 50,000 jobs last month, below market expectations, capping off a year of labor market weakness that prompted the Federal Reserve to cut interest rates.However, the unemployment rate slipped to 4.4 percent and average wages continued to rise.”The key takeaway is that the low unemployment rate will temper concerns that consumer spending and the economy will slow rapidly due to a weak labor market,” said Briefing.com analyst Patrick O’Hare.”It will also likely keep the Fed’s next rate cut at bay,” he added.The report is expected to play a key role in the central bank’s decision-making at its next policy meeting this month.The Fed has indicated that its next move could be a pause after three successive cuts, and Friday’s data ended market hopes for a January reduction.Yet Wall Street’s main indices advanced to end the day, with the Dow and S&P 500 both closing at new highs.Expectations that the Fed will be gradually cutting rates in 2026 were reinforced by the mixed jobs numbers, said Angelo Kourkafas of Edward Jones.Kathleen Brooks, research director at XTB, added that the weakening labor market and strong GDP growth also signal that US productivity is surging.Most stock markets have enjoyed a solid start to the new year, with indices in Frankfurt, London, Paris and Seoul hitting record highs this week. This was largely on optimism for the tech sector and gains in defense sector shares.Swiss mining giant Glencore jumped to top London’s FTSE 100 index after confirming it was in merger talks with Australian-British rival Rio Tinto, which fell. Europe’s main markets closed higher, with Paris setting a fresh all-time high, even as France’s opposition failed to derail EU approval of the trade deal with Brazil and other nations in the Mercosur bloc.Investors are also keeping watch on a potential US Supreme Court ruling on the legality of many of Trump’s punishing tariffs. A ruling against the government would prove a temporary setback to its economic and fiscal plans, although officials have noted that tariffs can be re-imposed by other means.Oil prices extended their gains as growing geopolitical risks, which could disrupt supplies, outweighed concerns about oversupply.Political tensions in Venezuela and civil unrest in Iran — potentially tightening crude availability — pushed oil prices higher, said analyst Axel Rudolph at the IG trading platform.Oil prices already rallied more than three percent Thursday, following Trump’s threat to hit Iran “very hard” if authorities killed protesters amid mounting civil unrest over an economic crisis.- Key figures at around 2125 GMT – New York – Dow: UP 0.5 percent at 49,504.07 points (close)New York – S&P 500: UP 0.7 percent at 6,966.28 (close)New York – Nasdaq Composite: UP 0.8 percent at 23,671.35 (close)London – FTSE 100: UP 0.8 percent at 10,124.60 (close)Paris – CAC 40: UP 1.4 percent at 8,362.09 (close)Frankfurt – DAX: UP 0.5 percent at 25,261.64 (close)Tokyo – Nikkei 225: UP 1.6 percent at 51,939.89 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 26,231.79 (close)Shanghai – Composite: UP 0.9 percent at 4,120.43 (close)Euro/dollar: DOWN at $1.1635 from $1.1652 on ThursdayPound/dollar: DOWN at $1.3407 from $1.3432Dollar/yen: UP at 157.88 yen from 157.16 yenEuro/pound: UP at 86.78 pence from 86.75 penceWest Texas Intermediate: UP 2.4 percent at $59.12 per barrelBrent North Sea Crude: UP 2.2 percent at $63.34 per barrelburs-rl-bys/jgc

AI took over CES 2026, powering coffee machines to brew the perfect espresso, a device to create your perfect scent, and ball-hitting tennis robots that make you forget it’s human against machine.- Alexa, make me an espresso -German group Bosch presented a new feature for its fully automated 800 Series coffee machine (sold from $1,700) that can be synchronized with Amazon’s Alexa voice assistant. After a short night’s sleep, users can order a double espresso with voice commands only, and the coffee maker will deliver. Some 35 different espresso options are available.”We’re one of the first manufacturers to really lean in with AI,” explained Andrew de Lara, spokesperson for Bosch. The century-old company, positioned at the high end of the market in the United States, wants to gradually bring AI into the kitchen, notably through its Home Connect mobile app, which already allows users to control several appliances remotely. – Scent of AI -South Korean company DigitalScent has developed a machine, already available in some airports, that creates a personalized fragrance based on your mood and preferences. Once you have picked your preferences, it releases a scent that gives you an idea of the final result. You can then make adjustments before making your final decision. Once you have placed your order, the machine uses AI to produce a virtually unique fragrance in a matter of seconds, choosing from a range of over 1,150 combinations. The fragrance is contained in a small, portable vial, costing $3 to $4, according to a spokesperson.- Game, set, AI -Several start-ups unveiled new-generation ball machines powered by artificial intelligence. While Singapore-based Sharpa already offers a convincing humanoid table tennis robot with a reaction time of just two hundredths of a second, there is no equivalent on the market for tennis. A few days ago, China’s UBTech posted a video online of its Walker S2 robot playing rallies with a human, but at a slow speed and without any real movement. UBTech’s robots are designed for industrial use rather than tennis courts and, in all likelihood, the video was produced solely to demonstrate the agility of the Walker S2 to attract business customers.While we wait for the humanoid robot that can volley at the net, another Chinese company, Tenniix, is marketing a robot that sends balls at speeds of up to 75 miles per hour (120.7 kilometers per hour). It has 10 different shots, some with spin, and even a lob that reaches eight meters high. The basic version, which can hold up to 100 balls, will set you back $699, but the most complete version, at $1,600, includes cameras and wheels that allow it to move around. The fast-moving machine uses AI to analyze the trajectory of your cross-court forehand and fires off a ball from about where a real-life return shot would most likely come, giving the player the impression of a real rally. “There’s a real rhythm,” says Run Kai Huang, spokesperson for Tenniix, “as if you were playing with a real person.”

Stock markets advanced Friday despite mixed US jobs data and as traders awaited a possible Supreme Court ruling on US President Donald Trump’s sweeping global tariffs.The US economy added 50,000 jobs last month according to Labor Department, below market expectations, and capping off a year of weakness in the job market that had prompted the Federal Reserve to cut interest rates.However the unemployment rate slipped to 4.4 percent and average wages continued to rise.”The key takeaway is that the low unemployment rate will temper concerns that consumer spending and the economy will slow rapidly due to a weak labour market,” said Briefing.com analyst Patrick O’Hare.However, “It will also likely keep the Fed’s next rate cut at bay.”The report is expected to play a key role in the central bank’s decision-making at its next policy meeting this month.The Fed indicated last month that its next move could be a pause after three successive cuts, and Friday’s data failed to boost expectations of a January cut.Wall Street’s major indices opened higher, with the blue-chip Dow adding 0.2 percent.The US jobs data “keeps the goldilocks scenario intact for stocks”, said Forex.com analyst Fawad Razaqzada, as the labour market weakness enables the Fed to cut rates without threatening a recession.Most stock markets have enjoyed a solid start to the new year, with indexes in Frankfurt, London, Paris and Seoul hitting record highs this week, largely on optimism for the tech sector and gains in defence sector shares.Swiss mining giant Glencore jumped ten percent to top London’s FTSE 100 index after confirming it was in merger talks with Australian-British rival Rio Tinto, which fell two percent. Europe’s main markets were higher in afternoon trading, with Paris setting a new all-time high, even as France’s opposition failed to derail EU approval of the trade deal with Brazil and other nations in the Mercosur bloc.Investors were also keeping watch on a potential US Supreme Court’s ruling on the legality of many of Trump’s punishing tariffs.A ruling against the government could have a huge impact on its economic and fiscal plans, despite pledges that tariffs could be re-imposed by other means.Briefing.com’s O’Hare said to watch the reaction of the bond market to the ruling.”They will ultimately be the judge and jury on what any IEEPA ruling means in the near term for the economy and the market,” he said, referring to the International Emergency Economic Powers Act that Trump used to impose the tariffs.Asian markets also mostly rose, with Hong Kong and Shanghai helped by figures showing that Chinese inflation rose more than expected last month, extending a period of growth following months of deflationary pressure. The 0.8 percent increase in consumer prices was the fastest pace since February 2023, though analysts noted that the increase was mainly for food costs, masking broader weaknesses.Oil prices extended their gains after rallying more than three percent Thursday, after Trump threatened to hit Iran “very hard” if the authorities killed protesters amid mounting civil unrest over an economic crisis.They were up more than one percent on Friday after Trump said the world’s biggest oil companies pledged to invest $100 billion to revive Venezuela’s oil sector as he prepared for a meeting with top industry executives.- Key figures at around 1430 GMT – New York – Dow: UP 0.2 percent at 49,357.63 pointsNew York – S&P 500: UP 0.2 percent at 6,931.76New York – Nasdaq Composite: UP less than 0.1 percent at 23,491.13 London – FTSE 100: UP 0.6 percent at 10,104.42 Paris – CAC 40: UP 1.2 percent at 8,335.41Frankfurt – DAX: UP 0.5 percent at 25,262.83Tokyo – Nikkei 225: UP 1.6 percent at 51,939.89 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 26,231.79 (close)Shanghai – Composite: UP 0.9 percent at 4,120.43 (close)Euro/dollar: DOWN at $1.1638 from $1.1652 on ThursdayPound/dollar: DOWN at $1.3417 from $1.3432Dollar/yen: UP at 157.94 yen from 157.16 yenEuro/pound: UP at 86.76 pence from 86.75 penceWest Texas Intermediate: UP 1.8 percent at $58.82 per barrelBrent North Sea Crude: UP 1.7 percent at $63.03 per barrelburs-rl/js

Stock markets advanced Friday as traders awaited the release of crucial US jobs data and a possible Supreme Court ruling on US President Donald Trump’s sweeping global tariffs.Most stocks have enjoyed a solid start to the new year, with indexes in Frankfurt, London, Paris and Seoul hitting record highs this week, largely on optimism for the tech sector.Swiss mining giant Glencore jumped ten percent to top London’s FTSE 100 index after confirming it was in merger talks with Australian-British rival Rio Tinto, which fell two percent. Europe’s main markets were higher in early afternoon trading, with Paris setting a new all-time high”Global markets await two key events in the US later today which could significantly impact volatility,” said Emma Wall, chief investment strategist at Hargreaves Lansdown.Traders will pore over nonfarm payrolls figures for December, widely expected to play a key role in the Federal Reserve’s decision-making at its next interest-rate meeting this month.The central bank indicated last month that its next move could be a pause after three successive cuts, though analysts said that a big downside miss could revive talk of another reduction.The US Supreme Court’s possible ruling on the legality of many of Trump’s punishing tariffs is also keeping investors occupied.A ruling against the government could have a huge impact on its economic and fiscal plans.”Some may read it as an effective cut to inflation which would be good news for equities, but it also means a cut to government revenues — bad news for bonds,” Wall said.Wall Street ended Thursday on a mixed note, but Asia saw a more positive run ahead of the weekend.Stock markets in Tokyo, Singapore, Seoul, Bangkok and Manila rose, though there were losses in Wellington, Taipei, Mumbai and Jakarta.Hong Kong and Shanghai were helped by figures showing that Chinese inflation rose more than expected last month, extending a period of growth following months of deflationary pressure. The 0.8 percent increase in consumer prices was the fastest pace since February 2023, though analysts noted that the increase was mainly for food costs, masking broader weaknesses.Chinese AI startup MiniMax soared as much as 78 percent on its Hong Kong trading debut, a day after rival Zhipu AI enjoyed its own strong first day, a sign that healthy investor demand is rewarding the country’s rapidly developing sector.Oil prices extended their gains after rallying more than three percent Thursday, after Trump threatened to hit Iran “very hard” if the authorities killed protesters amid mounting civil unrest over an economic crisis.They were up 0.9 percent on Friday after Trump said the world’s biggest oil companies pledged to invest $100 billion to revive Venezuela’s oil sector as he prepared for a meeting with top industry executives.Crude prices had stumbled earlier in the week after Trump said Venezuela would ship millions of barrels to the United States following the toppling of the South American country’s leader.- Key figures at around 1100 GMT – London – FTSE 100: UP 0.5 percent at 10,098.46 pointsParis – CAC 40: UP 0.9 percent at 8,317.11Frankfurt – DAX: UP 0.4 percent at 25,229.65Tokyo – Nikkei 225: UP 1.6 percent at 51,939.89 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 26,231.79 (close)Shanghai – Composite: UP 0.9 percent at 4,120.43 (close)New York – Dow: UP 0.6 percent at 49,266.11 (close)Euro/dollar: DOWN at $1.1644 from $1.1652 on ThursdayPound/dollar: DOWN at $1.3410 from $1.3432Dollar/yen: UP at 157.65 yen from 157.16 yenEuro/pound: UP at 86.83 pence from 86.75 penceWest Texas Intermediate: UP 0.9 percent at $58.30 per barrelBrent North Sea Crude: UP 0.9 percent at $62.55 per barrelburs-rl/cw

Shares in Chinese AI startup MiniMax soared 109 percent as it went public in Hong Kong on Friday, raising US$619 million in a sign that strong investor demand is rewarding the country’s rapidly developing sector.Rival firm Zhipu AI also saw gains, jumping 20.6 percent on its second trading day after its own US$558 million initial public offering.This week’s flotations come before any IPO announcements from top US startups OpenAI, the maker of ChatGPT, and Anthropic, known for its Claude chatbot.Founded in 2022, MiniMax has 200 million users and runs several applications including its flagship video generator Hailuo AI. Its CEO Yan Junjie was previously an executive at leading AI software company SenseTime, which is blacklisted by the US Commerce Department. The advancement and application of artificial intelligence “depend on ongoing technological innovation, but even more so on the inclusivity and openness of the entire process”, Yan said in Friday’s listing ceremony.”We anticipate that over the next four years, the pace of progress in the AI industry will match that of the past four years,” Yan added.Co-founder and COO Yun Yeyi told Bloomberg that MiniMax had only spent around US$500 million to make optimisation and creative innovations.Proceeds from the IPO will be used for its research over the next five years to develop foundation models and AI-native products, the firm said.MiniMax’s team includes researchers who previously worked for tech giants such as Google and Microsoft as well as China’s Alibaba and DeepSeek.-‘Early stage’-Revenue from overseas markets grew from US$100,000 in the nine months ending September 2024 to US$7.8 million during the same period in 2025, the firm said.It recorded net losses of $512 million in September 2025.MiniMax said it may continue to record net losses as it is still expanding and investing to support its long-term growth.The startup also faces a US$75 million copyright lawsuit from Disney, Universal, and Warner Bros. Discovery over its video-generating tool.The firm has maintained “there is insufficient evidence to support” the claims.Analysts told AFP that profits were unlikely any time soon from Zhipu and MiniMax, the so-called Chinese “AI tigers” who compete with tech giants such as Alibaba and ByteDance.Friday’s shares performance shows investors have a “strong appetite for China’s tech sector and the AI story”, Gary Ng, senior economist at Natixis Corporate and Investment Banking, told AFP.The whole AI sector is still at an early stage of development, which requires massive investment, he said, adding that profitability is “not the primary focus” for these startups.”It is about the prospect of which country or firm has the upper hand in gaining market share and staying ahead of the tech curve,” he added.The large language model market in China is estimated to grow to 101.1 billion yuan (US$14.5 billion) by 2030, according to consultancy Frost and Sullivan.AI will cumulatively contribute US$19.9 trillion to the global economy through 2030 and drive 3.5 percent of global GDP in that year, according to International Data Corporation.

Stock markets were mixed Friday after a two-day stutter as traders look ahead to the release of crucial US jobs data and a possible Supreme Court ruling on Donald Trump’s sweeping global tariffs.A Beijing report on rising Chinese consumer prices and Chinese AI startup MiniMax’s soaring market debut in Hong Kong provided a boost to Shanghai and Hong Kong stocks.Equities have largely enjoyed a solid start to the new year, with Seoul hitting several record highs this week, thanks to optimism over the tech sector and earnings.But focus is now on the outlook for US interest rates, with closely watched non-farm payrolls figures due out later in the day. Traders will be poring over the figures as they could play a key role in the Federal Reserve’s decision-making leading up to its next policy meeting at the end of the month.The central bank indicated last month that its next move could be a pause — after three successive cuts — though analysts said that a big downside miss could revive talk of another reduction. A much bigger gain than expected could also deal a blow to such hopes.Still, Matt Weller at City Index said: “Traders have relatively high confidence that the Federal Reserve will pause its rate cutting cycle this month, and only a dramatic deterioration in the labour market (such as an outright decline in jobs or unemployment rising to 4.7 percent) could shake that confidence. “As a result, the market reaction to the release could be relatively limited.”Wall Street ended Thursday on a mixed note, with observers pointing out signs traders were shifting their positions from tech — which led last year’s rally to multiple records — and into smaller cap firms.But Asia enjoyed a more positive run.Tokyo, Singapore, Seoul, Bangkok and Manila all rose, though there were losses in Wellington, Taipei, Mumbai and Jakarta.London, Paris and Frankfurt edged up at the open.Hong Kong and Shanghai were helped by figures showing Chinese inflation rose more than expected last month and extended a period of growth following months of deflationary pressure. The 0.8 percent increase in consumer prices marks the fastest pace since February 2023, though analysts pointed out that the increase was mainly down to food costs, masking broader weaknesses.Chinese AI startup MiniMax soared as much as 78 percent on its Hong Kong debut, a day after rival Zhipu AI’s enjoyed its own strong first day, in a sign that healthy investor demand is rewarding the country’s rapidly developing sector.Sydney was marginally lower, with Australian-British mining giant Rio Tinto falling more than six percent after it confirmed merger with Swiss rival Glencore.The US Supreme Court’s possible ruling on the legality of many of Trump’s punishing tariffs is also keeping investors occupied.A ruling against the government could have a huge impact on its economic and fiscal plans.Oil prices rose, having rallied more than three percent Thursday, after Trump threatened to hit Iran “very hard” if it killed protesters amid mounting civil unrest over an economic crisis.The gains reversed losses earlier in the week that came after the president said Venezuela would ship millions of barrels to the United States following the toppling of the South American country’s leader at the weekend.- Key figures at around 0815 GMT – Tokyo – Nikkei 225: UP 1.6 percent at 51,939.89 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 26,231.79 (close)Shanghai – Composite: UP 0.9 percent at 4,120.43 (close)London – FTSE 100: UP 0.3 percent at 10,069.86 Euro/dollar: DOWN at $1.1644 from $1.1652 on ThursdayPound/dollar: DOWN at $1.3426 from $1.3432Dollar/yen: UP at 157.58 yen from 157.16 yenEuro/pound: DOWN at 86.72 pence from 86.75 penceWest Texas Intermediate: UP 0.8 percent at $58.24 per barrelBrent North Sea Crude: UP 0.8 percent at $62.49 per barrelNew York – Dow: UP 0.6 percent at 49,266.11 (close)

Japan embarks Sunday on what it says is the world’s first bid to tap deep sea rare earths at a depth of 6,000 metres — greater than the height of Mount Fuji — to curb dependence on China.A Japanese deep-sea scientific drilling boat called the Chikyu will set sail for the remote island of Minami Torishima in the Pacific, where surrounding waters are believed to contain a rich trove of valuable minerals.The test cruise comes as China — by far the world’s biggest supplier of rare earths — ramps up pressure on its neighbour after Prime Minister Sanae Takaichi suggested in November that Tokyo may react militarily to an attack on Taiwan, which Beijing has vowed to seize control of by force if necessary.Rare earths — 17 metals difficult to extract from the Earth’s crust — are used in everything from electric vehicles to hard drives, wind turbines and missiles.The mission by the Chikyu is “a first step toward our country’s industrialisation of domestic rare earths”, the Japan Agency for Marine-Earth Science and Technology (JAMSTEC) said in a statement last month.The agency touted the test as the world’s first at such depths.The area around Minami Torishima, which is in Japan’s economic waters, is estimated to contain more than 16 million tons of rare earths, which the Nikkei business daily says is the third-largest reserve globally.These rich deposits contain an estimated 730 years’ worth of dysprosium, used in high-strength magnets in phones and electric cars, and 780 years’ worth of yttrium, used in lasers, Nikkei said.”If Japan could successfully extract rare earths around Minami Torishima constantly, it will secure domestic supply chain for key industries,” Takahiro Kamisuna, research associate at The International Institute for Strategic Studies (IISS), told AFP.”Likewise, it will be a key strategic asset for Takaichi’s government to significantly reduce the supply chain dependence on China.”- Threat to sea life -Beijing has long used its dominance in rare earths for geopolitical leverage, including in its trade war with US President Donald Trump’s administration.China accounts for almost two-thirds of rare earth mining production and 92 percent of global refined output, according to the International Energy Agency.Media reports this week said Beijing was delaying Japanese imports as well as rare-earth exports to Tokyo, as their two-month-old spat escalates. China on Tuesday blocked exports to Japan of “dual-use” items with potential military uses, fuelling worries in Japan that Beijing could choke supplies of rare earths, some of which are included in China’s list of dual-use goods.An earlier spat in 2010 saw Japan move to lessen its dependence on Beijing for rare earths but more than 70 percent still come from China, according to Tokyo — a stat it is looking to change.During the test mission, the Chikyu will send a pipe beneath the water to ensure a “mining machine” attached to its tip can reach the seabed and retrieve the rare earth-rich muds, JAMSTEC said. The cruise is scheduled to last until February 14. Deep-sea mining has become a geopolitical flashpoint, with anxiety growing over a push by US President Donald Trump to fast-track the practice in international waters.Environmental campaigners warn it threatens marine ecosystems and will disrupt the sea floor.The International Seabed Authority (ISA), which has jurisdiction over the ocean floor outside national waters, is pushing for the adoption of a global code to regulate mining in the ocean depths.