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Global equities stalled Wednesday while bitcoin hit a fresh high as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies amid fears his policies may reignite US inflation, which rose on latest data.The prospect of higher prices on the back of Trump’s planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Adding to concerns on the impending transfer of White House power, key US October consumer price data saw a 2.6-percent rise, up from 2.4 percent in September, the Labor Department said.Although the figure was in line with the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal, the data complicates the US Federal Reserve’s plans to cut interest rates, even if it remains broadly on track to slow the rate of price increases, EY chief economist Gregory Daco told AFP. “It’s particularly pertinent given concerns that Trump’s tariff policies will be inflationary,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.”If prices are already looking unruly, expectations will rise for Trump’s threats to be watered down.”For Srijan Katyal, global head of strategy and trading services at ADSS brokerage, “this (inflation data) reading has slightly disrupted the disinflationary pattern we have seen in the last few months but continues to remain stable around the targeted level”.Yet, given Trump’s election victory, “inflation worries could return to markets,” Katyal said.As inflation edged up, bitcoin, the world’s premier cryptocurrency, soared to fresh heights in topping $90,000, hitting an all-time peak above $93,400 before easing back slightly.Trump has notably pledged to ease regulation around digital tokens.With main European indices hardly budging — Frankfurt and Paris lost minor ground and London closed barely ahead — FOREX.com analyst Fawad Razaqzada suggested that “this week’s US inflation data may impact Wall Street but will likely have limited implications for European indices.”But one factor that is certainly weighing on sentiment on this side of the pond is political uncertainty in Germany,” which faces elections in February.On Wall Street, the Dow stood 0.4 percent in the green two hours into the session as traders digested the inflation data but the tech heavy Nasdaq was flat.Asian markets had mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.- Key figures around 1645 GMT -New York – Dow: UP 0.4 percent at 44,101.90 points New York – S&P 500: UP 0.2 percent at 5,997.42 New York – Nasdaq Composite: FLAT at 19,286.38 London – FTSE 100: UP 0.1 percent at 8,030.33 (close)Paris – CAC 40: DOWN 0.1 percent at 7,216.83 (close)Frankfurt – DAX: DOWN 0.2 percent at 19,003.11 (close)Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)Dollar/yen: UP at 155.19 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0570 from $1.0625Pound/dollar: DOWN at $1.2714 from $1.2748Euro/pound: DOWN at 83.13 pence from 83.34 penceBrent North Sea Crude: UP 0.1 percent at $71.99 per barrelWest Texas Intermediate: UP 0.1 percent at $68.20 per barrel

Global equities stalled Wednesday as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies amid fears his policies could also reignite US inflation, which rose on latest data.The prospect of higher prices on the back of Trump’s planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Adding to concerns on the impending transfer of White House power, key US October consumer price data saw a 2.6-percent rise, up from 2.4 percent in September, the Labor Department said.Although the figure was in line with the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal, the data complicates the US Federal Reserve’s plans to cut interest rates, even if it remains broadly on track to slow the rate of price increases, EY chief economist Gregory Daco told AFP. “It’s particularly pertinent given concerns that Trump’s tariff policies will be inflationary,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.”If prices are already looking unruly, expectations will rise for Trump’s threats to be watered down.”For Srijan Katyal, global head of strategy and trading services at ADSS brokerage, “this (inflation data) reading has slightly disrupted the disinflationary pattern we have seen in the last few months but continues to remain stable around the targeted level”.Yet, given Trump’s election victory, “inflation worries could return to markets,” Katyal said.As inflation edged up, bitcoin, the world’s premier cryptocurrency, soared to fresh heights in topping $90,000, hitting an all-time peak above $91,000 before easing to $90,670.Trump has notably pledged to ease regulation around digital tokens.Wall Street lacked direction in early trading as traders digested the inflation data. Its three main indices had finished in the red Tuesday as investors took a breather from a week-long rally to more record highs, with the Dow barely in the green and the tech heavy Nasdaq off 0.2 percent.Major European indices all were trading down some two hours out from the close, although Siemens Energy shares surged more than 15 percent after the German company posted positive annual results and upgraded its outlook.Asian markets mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.”We expect the effective tariff rate on US imports from China to rise to around 40 percent,” said Harry Murphy Cruise at Moody’s Analytics.”That would effectively double the rate today,” he told AFP.Cruise said, “China would almost certainly follow suit.”The threat of another standoff comes as Beijing struggles to kickstart growth at home, unveiling a raft of measures at the end of September but leaving traders disappointed.China’s state media on Wednesday reported that Beijing had announced a raft of tax policies aimed at boosting the country’s ailing property market.- Key figures around 1445 GMT -New York – Dow: UP 0.1 percent at 43,948.32 points New York – S&P 500: FLAT 0.2 percent at 5,982.53 New York – Nasdaq Composite: DOWN 0.2 percent at 19,243.48 London – FTSE 100: DOWN 0.2 percent at 8,008.47Paris – CAC 40: DOWN 0.7 percent at 7,179.08Frankfurt – DAX: DOWN 0.8 percent at 18,890.76Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)Dollar/yen: UP at 154.98 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0617 from $1.0625Pound/dollar: DOWN at $1.2741 from $1.2748Euro/pound: DOWN at 83.31 pence from 83.34 penceBrent North Sea Crude: UP 1.0 percent at $71.21 per barrelWest Texas Intermediate: DOWN 1.0 percent at $67.45 per barrel

Indian food delivery firm Swiggy rose nearly 17 percent on its market debut Wednesday after raising $1.34 billion in the country’s second-biggest IPO this year, as investor optimism offset profit concerns.A booming stock market in the world’s fifth-largest economy has stoked an IPO frenzy over the past two years, with start-ups and established companies alike raking in billions of dollars at rich valuations.Swiggy, which is backed by Japan’s SoftBank and investment giant Prosus, has pushed the limits of rapid commerce in India, with the help of a network of local warehouses and tens of thousands of delivery riders.The tech firm, like many of its rivals, has expanded beyond traditional food delivery business into having everything from groceries to electronics dropped off at doorsteps in under 20 minutes.Group chief executive Sriharsha Majety, speaking at the listing ceremony in the financial capital Mumbai, said India had “so much economic growth” ahead, and that “growth is obviously going to show up in the cities” — a boost for firms like Swiggy.The company’s shares defied an overall weak market and closed at 456 rupees($5.4), 16.9 percent higher than the issue price, on their first day of trade.In the run-up to the listing, analysts had raised concerns over stiff competition from industry leader Zomato and unlisted rival Zepto.”Swiggy’s initial focus on in-house innovation gave it an edge, but competitors like Zomato and Zepto have since overtaken it in food delivery and quick commerce,” Ninad Sarpotdar, an analyst at Aditya Birla Capital, wrote in a pre-listing note.Sarpotdar said that ongoing losses and a “slightly high valuation” were also negative factors.Swiggy’s financial filings show its losses increased to 6.1 billion rupees ($72.3 million) in the June quarter.The delivery app plans to use $66 million from its IPO proceeds to expand its warehouse network as it looks to boost revenue and cut losses. 

Global stock markets diverged Wednesday as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.The prospect of higher prices on the back of Trump’s planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Focus is now on the release of key US October consumer price data due later in the day, with expectations for a slight uptick from the previous month.”It’s particularly pertinent given concerns that Trump’s tariff policies will be inflationary,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.”If prices are already looking unruly, expectations will rise for Trump’s threats to be watered down.”The reading will be pored over for an idea about the Federal Reserve’s plans for borrowing costs when it meets again in December.Major European indices edged higher around midday Wednesday.Shares in Siemens Energy surged more than 15 percent after the German company posted positive annual results and upgraded its outlook.Asian markets mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.”We expect the effective tariff rate on US imports from China to rise to around 40 percent,” said Harry Murphy Cruise at Moody’s Analytics.”That would effectively double the rate today,” he told AFP.”It’s likely the threat of further tariffs up to the touted 60 percent would be used as a negotiating tool.” Cruise said “China would almost certainly follow suit, imposing tariffs of its own of equal magnitude”.The threat of another standoff comes as Beijing struggles to kickstart growth at home, unveiling a raft of measures at the end of September but leaving traders disappointed.China’s state media on Wednesday reported that Beijing had announced a raft of tax policies aimed at boosting the country’s ailing property market.Wall Street provided a negative lead, with its three main indices finishing in the red Tuesday as investors took a breather from a week-long rally to more record highs.Traders are keeping tabs on bitcoin after it came within a whisker of breaking $90,000 for the first time on Tuesday owing to Trump’s pro-crypto campaign pledges.- Key figures around 1100 GMT -London – FTSE 100: UP 0.1 percent at 8,062.73Paris – CAC 40: UP 0.3 percent at 7,248.33Frankfurt – DAX: UP 0.3 percent at 19,096.11Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)New York – Dow: DOWN 0.9 percent at 43,910.98 (close)Dollar/yen: UP at 154.98 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0617 from $1.0625Pound/dollar: DOWN at $1.2741 from $1.2748Euro/pound: DOWN at 83.31 pence from 83.34 penceBrent North Sea Crude: UP 0.7 percent at $72.38 per barrelWest Texas Intermediate: UP 0.7 percent at $68.61 per barrel

Airlines cancelled flights to and from the Indonesian resort island of Bali on Wednesday, leaving travellers stranded after a nearby volcano catapulted an ash tower miles into the sky.At least 16 international routes were affected after Mount Lewotobi Laki-Laki on Flores island spewed a nine-kilometre (5.6-mile) tower a day earlier, the general manager of Bali’s international airport said in a statement.Flights from Singapore, Hong Kong, Qatar, India, Australia, Malaysia, China’s Pudong and South Korea’s Incheon were all either delayed or grounded, Ahmad Syaugi Shahab said Wednesday.Animal clinic worker Samsudin, 52, from Indonesia’s main island was transiting in Bali to Malaysia and forced to spend the night at the airport.”I’m sleeping here rather than going back to Java. It is far,” he told AFP.”I’m waiting here, until tomorrow,” he added, saying he bought a new flight after his AirAsia ticket was refunded.Australia’s Jetstar, Qantas and Virgin Australia all grounded flights, while Malaysia Airlines, AirAsia, India’s IndiGo and Singapore’s Scoot also listed flights as cancelled on Wednesday, an AFP journalist at Bali’s airport said.”Volcanic ash poses a significant threat to safe operations of the aircraft in the vicinity of volcanic clouds,” said AirAsia as it announced several cancellations.Hong Kong’s Cathay Pacific also listed its flights as cancelled, rescheduling routes to and from Bali until Thursday.Multiple eruptions from the 1,703-metre (5,587-foot) twin-peaked volcano in recent weeks have killed nine people, with 31 injured and more than 11,000 evacuated, Indonesia’s disaster mitigation agency said Tuesday.Eruptions can pose serious risks to flights, disgorging fine ash that can damage jet engines and scour a plane’s windscreen to the point of invisibility.The island’s tourism head called for calm after the cancellations, saying the island was “very safe” because the volcano is far away.”Bali’s tourism activity is still running normally,” Tjok Bagus Pemayun said in a statement Wednesday.But airlines said the situation was too dangerous to keep their planes in the sky.Jetstar said all flights to and from Bali would be halted until noon on Thursday as it was “currently not safe to operate flights”.Malaysia Airlines said it had cancelled six flights Wednesday in a statement on its website, while Scoot said it scrapped two flights and rescheduled four more.The airlines said they would monitor the volcano’s status and provide updates.Singapore Airlines was still listing its flights as running on Wednesday.- ‘Refunds, rescheduling, re-routing’ -Bali airport’s Shahab said 26 domestic and 64 international flights had been affected by recent eruptions as of Wednesday afternoon.”Due to this natural event impacting flight operations, airlines are offering affected passengers the options of refunds, rescheduling, or re-routing,” he added in a statement.But some said they were set to be stranded for days, with little help forthcoming.”There’s nobody helping us, nobody is providing us accommodation or food, we are kind of stranded,” said IT consultant Arsh Khurana, 39, from Delhi whose Air India flight was rescheduled to Saturday.”There is nothing from Air India, there is absolutely no support,” he told AFP, adding that he and his wife were set to lose money as the airline’s travel insurance did not cover disruptions caused by volcanic eruptions.Local media reported thousands of passengers were affected but Balinese officials gave no estimate.Bali’s international airport operator PT Angkasa Pura Indonesia said Wednesday it had conducted tests in its airspace and no volcanic ash was detected, saying the airport was “operating as normal”.But the airport in the tourist hotspot of Labuan Bajo on Flores island was shuttered on Wednesday until 8pm local time (1200 GMT) because of the volcanic ash from Lewotobi, according to the airport’s Instagram.Lewotobi erupted again from midnight Wednesday until early morning, and a large ash column could be seen pouring from its crater, an AFP journalist nearby said.Laki-Laki, which means “man” in Indonesian, is twinned with a calmer volcano named after the Indonesian word for “woman”.The island’s economy is heavily reliant on tourism but Indonesia is one of the most disaster-prone nations on Earth, straddling the Pacific Ring of Fire where tectonic plates collide.

Asian markets fell again Wednesday as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.The prospect of prices spiking again on the back of tax cuts, import tariffs, and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Traders are also keeping tabs on bitcoin after it came within a whisker of breaking $90,000 for the first time, though observers are betting on it hitting $100,000 owing to Trump’s pro-crypto campaign pledges.After an initial rally in the wake of the tycoon regaining the White House, Asian markets have pulled back this week as his cabinet begins to emerge.The naming of known China hawks to key positions has fuelled concerns about another debilitating trade war between the economic superpowers.”We expect the effective tariff rate on US imports from China to rise to around 40 percent,” said Harry Murphy Cruise at Moody’s Analytics.”That would effectively double the rate today and be a similar increase to that seen during the first trade war. It’s likely the threat of further tariffs up to the touted 60 percent would be used as a negotiating tool,” he told AFP.”China would almost certainly follow suit, imposing tariffs of its own of equal magnitude.”The threat of another standoff comes as Beijing struggles to kickstart growth at home, unveiling a raft of measures at the end of September but leaving traders disappointed with anything new at a much-anticipated announcement Friday.Uncertainty about the outlook heading into 2025 was weighing on Asian equities, with Hong Kong, Tokyo, Sydney, Seoul, Taipei, Wellington and Mumbai all in the red.Still, Shanghai, Singapore, Manila and Bangkok rose, while London opened higher. Paris and Frankfurt dipped at the open.The selling came after a negative lead from Wall Street, where all three main indexes finished in the red as investors took a breather from a week-long rally to more record highs.Bitcoin was sitting at 87,654.The dollar extended gains against its peers, having tapped a one-year high versus the euro, while it pushed back above 155 yen.The greenback has risen as dealers pare bets on Federal Reserve interest rate cuts after Trump’s win, with two seen through to June, compared with four forecast before the election, according to Bloomberg.Focus is now on the release of key US October consumer price data due later in the day, with expectations for a slight uptick from the previous month.The reading will be pored over for an idea about the central bank’s plans for borrowing costs when it meets again in December.It cut rates 25 basis points last week, having slashed them by 50 points in September, the first since the start of the pandemic.- Key figures around 0810 GMT -Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)London – FTSE 100: UP 0.1 percent at 8,034.76Dollar/yen: UP at 155.07 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0606 from $1.0625Pound/dollar: DOWN at $1.2737 from $1.2748Euro/pound: DOWN at 83.27 pence from 83.34 penceWest Texas Intermediate: UP 0.1 percent at $68.18 per barrelBrent North Sea Crude: UP 0.1 percent at $71.96 per barrelNew York – Dow: DOWN 0.9 percent at 43,910.98 (close)

The Japanese owner of 7-Eleven said Wednesday its founding family had offered a counter-bid to a takeover attempt by Canadian convenience store rival Alimentation Couche-Tard (ACT).With around 85,000 outlets, 7-Eleven is the world’s biggest convenience chain. If realised, Couche-Tard’s seven trillion yen ($45 billion) takeover would be the largest foreign buyout of a Japanese firm.Bloomberg News said up to nine trillion yen could be spent on taking the retail group private instead.Seven & i said on Wednesday it had received a non legally binding acquisition proposal from its vice president Junro Ito, the founder’s son, and his company Ito-Kogyo.A special committee “has been reviewing the proposal carefully and thoroughly with its financial and legal advisors”, its statement said.”No determination has been made at this time to pursue a transaction with either Mr Ito and Ito-Kogyo, ACT, or any other party, and there can be no assurance that any such transaction will be entered into or consummated,” it cautioned.Ito-Kogyo holds a stake of around eight percent in the Japanese retail giant. “Mr Ito has been excluded from all discussions within the Company… relating to any proposal,” the statement said.Seven & i stocks closed more than 11 percent higher, having soared as much as 17 percent following the news.The 7-Eleven franchise began in the United States, but it has been wholly owned by Seven & i since 2005.Around a quarter of 7-Eleven stores are in Japan, where the stores are a cherished one-stop shop for everything from rice balls to concert tickets.Couche-Tard, which began with one store in Canada’s city of Laval in 1980, now runs nearly 17,000 convenience outlets worldwide.The Nikkei, citing sources close to Seven & i, said the company had begun talks with financial institutions to procure the necessary resources to go private.But it said potential obstacles could include whether the banks would agree to the huge loans required.Seven & i is Japan’s biggest retailer, with a current market cap of 6.5 trillion yen.In September, it rejected an initial takeover offer from Couche-Tard, saying the proposal “grossly” undervalued its business and could face regulatory hurdles.Then the group said last month it had received a revised offer that reportedly totalled around seven trillion yen.To boost its share price and fend off Couche-Tard, Seven & i has also announced a major restructuring, including plans to spin off its non-core businesses.To allow it to focus on 7-Eleven, its new holding company will comprise its supermarket food business, speciality stores and other businesses.

Airlines in Australia, Hong Kong, India, Malaysia and Singapore cancelled flights to and from the Indonesian resort island of Bali on Wednesday, after a nearby volcano catapulted an ash tower miles into the sky.Australia’s Jetstar, Qantas and Virgin Australia all grounded flights after Mount Lewotobi Laki-Laki on Flores island spewed a nine-kilometre (5.6-mile) tower a day earlier.Malaysia Airlines, AirAsia, India’s IndiGo and Singapore’s Scoot also listed flights as cancelled on Wednesday, according to an AFP journalist at Bali’s international airport.”Volcanic ash poses a significant threat to safe operations of the aircraft in the vicinity of volcanic clouds,” said AirAsia as it announced several cancellations.Multiple eruptions from the 1,703-metre (5,587-foot) twin-peaked volcano in recent weeks have killed nine people, with 31 injured and more than 11,000 evacuated, Indonesia’s disaster mitigation agency said Tuesday.Eruptions can pose serious risks to flights, disgorging fine ash that can damage jet engines and scour a plane’s windscreen to the point of invisibility.Hong Kong’s Cathay Pacific also listed its flights as cancelled, rescheduling routes to and from Bali until Thursday.”Virgin Australia has made some changes to its current flight schedule, due to the impacts of the volcano in Indonesia,” the airline said, listing scrapped flights to Sydney and Melbourne.Jetstar said all flights to and from Bali would be halted until noon on Thursday.”Due to volcanic ash caused by the Mount Lewotobi eruption in Indonesia, it is currently not safe to operate flights to and from Bali,” the company said in an advisory.Qantas said “a number of flights to and from Denpasar Airport in Bali have been disrupted” due to volcanic ash from Lewotobi.Malaysia Airlines said it had cancelled six flights Wednesday in a statement on its website.The airlines said they would monitor the volcano’s status and provide updates.Singapore’s Scoot and Malaysia’s AirAsia did not immediately respond to an AFP request for comment. Singapore Airlines was still listing its flights as running on Wednesday.- refunds, rescheduling, re-routing -Ahmad Syaugi Shahab, general manager of Bali’s international airport, said 12 domestic and 22 international flights had been affected on Tuesday, without identifying the routes.He did not provide details about affected flights on Wednesday’s schedule. “Due to this natural event impacting flight operations, airlines are offering affected passengers the options of refunds, rescheduling, or re-routing,” he added in a statement.Bali’s international airport operator PT Angkasa Pura Indonesia said Wednesday it had conducted tests in its airspace and no volcanic ash was detected, saying the airport was “operating as normal”.Lewotobi erupted again from midnight Wednesday until early morning, and a large ash column could be seen pouring from its crater, an AFP journalist nearby said.Laki-Laki, which means “man” in Indonesian, is twinned with a calmer volcano named after the Indonesian word for “woman”.The island’s economy is heavily reliant on tourism but Indonesia is one of the most disaster-prone nations on Earth, straddling the Pacific Ring of Fire where tectonic plates collide.Lombok, an island neighbouring Bali, was rocked by earthquakes in 2018 that killed more than 500 and sparked a mass exodus of foreigners from the tropical paradise.

Several Australian airlines on Wednesday cancelled their flights to and from the Indonesian resort island of Bali, after a nearby volcano catapulted an ash tower miles into the sky.Jetstar, Qantas and Virgin Australia all issued advisories announcing changes to their flight schedules after Mount Lewotobi Laki-Laki on Flores island spewed a nine-kilometre (5.6-mile) tower a day earlier.”Virgin Australia has made some changes to its current flight schedule, due to the impacts of the volcano in Indonesia,” the airline said, listing scrapped flights to Sydney and Melbourne.Jetstar said all flights to and from Bali would be halted until noon on Thursday.”Due to volcanic ash caused by the Mount Lewotobi eruption in Indonesia, it is currently not safe to operate flights to and from Bali,” the company said in an advisory.Qantas said “a number of flights to and from Denpasar Airport in Bali have been disrupted” due to volcanic ash from Lewotobi.Ahmad Syaugi Shahab, general manager of Bali’s international airport, said in a statement Wednesday 12 domestic and 22 international flights were affected a day ago, without identifying the routes.He did not provide details about affected flights on Wednesday’s schedule. “Due to this natural event impacting flight operations, airlines are offering affected passengers the options of refunds, rescheduling, or re-routing,” he added.Bali’s international airport operator PT Angkasa Pura Indonesia said Wednesday it had conducted tests in its airspace and said no volcanic ash was detected, saying the airport was “operating as normal”.Australian tourists make up one of the biggest groups of tourists that visit the resort island every year.Lewotobi erupted again from midnight Wednesday until early morning, and an large ash column could be seen pouring from its crater, an AFP journalist nearby said.Multiple eruptions from the 1,703-metre (5,587-foot) twin-peaked volcano in recent weeks have killed nine people with 31 injured and more than 11,000 evacuated, Indonesia’s disaster mitigation agency said Tuesday.Laki-Laki, which means “man” in Indonesian, is twinned with a calmer volcano named after the Indonesian word for “woman”.Indonesia, a vast archipelago nation, experiences frequent seismic and volcanic activity due to its position on the Pacific “Ring of Fire”. 

Chinese leader Xi Jinping headed to Peru on Wednesday, bound for a meeting of Asia-Pacific Economic Cooperation (APEC) organisation leaders overshadowed by fears of renewed global trade tensions under Donald Trump.Xi will join leaders from the United States and other Asia-Pacific nations in the Peruvian capital Lima for the APEC gathering, after which he will go to Brazil for a G20 summit.China — the world’s second-largest economy — is grappling with a prolonged housing crisis and sluggish consumption that could worsen under Trump, who has promised to slap 60 percent tariffs on Chinese imports.While in Peru, the Chinese leader will also inaugurate South America’s first Chinese-funded port, in Chancay, around 50 miles (80 kilometres) north of Lima.Expected to serve as a major trade hub, the $3.5-billion complex is seen as symbolic of Beijing’s growing influence in South America, where it has built a vast array of railways, highways and other infrastructure.Bilateral trade between the Asian giant and Peru, one of Latin America’s fastest-growing economies over the past decade, stood at nearly $36 billion in 2023, making Peru China’s fourth-largest Latin American trading partner.The Chancay port will also serve Chile, Colombia and Ecuador, among other South American countries, allowing them to skirt ports in Mexico and the United States for trade with Asia.Starting Wednesday, Lima will receive government ministers and business leaders of APEC member countries, which also include Russia, Japan, South Korea, Indonesia, Chile and Australia.Ministerial meetings will take place Thursday, followed by talks at the level of heads of state the following two days.State broadcaster CCTV said Xi will be accompanied in Peru by Foreign Minister Wang Yi.- Peru to Brazil -After Lima, Xi will go to the Brazilian coastal city of Rio de Janeiro from November 17 to 21 for a summit of G20 leaders.China is Brazil’s top trading partner, exceeding $180 billion in each-way trade in 2023, with semiconductors, phones and pharmaceuticals dominating exports to the South American country.Since returning to power last year, Brazilian President Luiz Inacio Lula da Silva has carried out a delicate balancing act as he seeks to deepen ties with China while improving relations with the United States.Both Brazil and China have sought to position themselves as mediators in the conflict in Ukraine, while declining to sanction Russia for its invasion.A visit this year by Vice President Geraldo Alckmin was seen as paving the way for Brazil to join China’s massive Belt and Road Initiative infrastructure project.A number of South American nations, including Peru, have signed up to the initiative, a central pillar of President Xi’s bid to expand China’s clout overseas.