Daily Buzz: 17 November 2025

UN Says Israel Still Restricting Gaza Aid Flow

Israel is still restricting flow of aid into Gaza, an official with the UN Agency for Palestinian refugees said, estimating that only about half of the required 500-600 daily truckloads of aid are getting through. Agency Deputy Commissioner General Natalie Boucly cited a dire need for food, medicine, tents and other life-saving commodities, especially as winter approaches. The Trump-brokered ceasefire between Hamas and Israel that came into effect on October 10 requires resumption of unrestricted aid to the war-ravaged enclave.

Israeli Prime Minister Benjamin Netanyahu said on Sunday his government remains resolutely opposed to the creation of a Palestinian state, following release of a draft UN resolution backing President Donald Trump's Gaza peace plan, which includes a clause envisioning future conditions that might provide a pathway to Palestinian statehood.

Washington Eyes Final Deal With China on Rare Earths

A final deal between China and the US on rare earths may be completed by the end of the month, US Treasury Secretary Scott Bessent said on Sunday. China has not yet responded to his latest comments. The two nations announced a framework accord last month in which Washington agreed not to impose 100 percent tariffs on Chinese imports and China agreed to suspend tighter restrictions on export licenses for rare earth minerals and industrial magnets. China is the world's largest refiner of rare earths needed in the manufacture of smart phones, electric cars, wind turbines, radar systems and other electronics products.

US Paves Way for Lukoil to Sell Foreign Assets

The Trump administration, which has sanctions on Russia's two biggest energy companies, Rosneft and Lukoil, said it will allow potential buyers to talk to Lukoil about purchasing its foreign assets as long as buyers sever all ties with the company and proceeds from the sale are placed in an escrow account that Lukoil can't touch until sanctions are lifted. The sanctions are aimed at squeezing Russian financing of its war in Ukraine. Moscow-based Lukoil, Russia's third largest company, said after the sanctions were imposed that it is seeking to sell its foreign assets, which comprise about 0.5 percent of global oil production and are believed to be valued at US$22 billion. The assets include refineries in Europe and stakes in oil projects in Iraq, Kazakhstan, Uzbekistan, Egypt, Nigeria, Ghana, and Mexico.

Shaolin Ex-Abbot Arrest Approved by Prosecutors

Chinese prosecutors approved the arrest of Shi Yongxin, former abbot of the famed Shaolin Temple, on charges including embezzlement, misappropriation of funds and bribery, the Supreme People's Procuratorate said Sunday. The temple announced in July that Shi was under investigation for diverting project funds, misusing temple assets and maintaining improper long-term relationships with several women, fathering at least one child. The following day, the Buddhist Association of China revoked his ordination certificate, effectively removing him from the monastic community. Shi, 59, became a monk in 1981 and had served as the 30th abbot of the 1,500-year-old Shaolin Temple since 1999. The temple is globally known as the birthplace of Zen Buddhism and the center of Shaolin kung fu.

Top Business

Alibaba Denies Report It's Helping China Military

Chinese tech and e-commerce giant Alibaba vehemently denied a Western media report that it provides technology assistance and customer data to the Chinese military for use against targets in the US. The Hangzhou-based company said, "The assertions and innuendos in the article are completely false" and a "malicious PR operation." The report appeared in the Financial Times, citing a White House memo.

China Gold International Posts Rise in Profit

China Gold International Resources said third-quarter revenue rose 36 percent to US$345 million from a year earlier, with net rising fourfold to US$142.3 million on higher ore prices. Gold production fell 18 percent to 41,150 ounces, but copper production increased to 19,204 tons from 17,361 tons. China Gold International Resources is registered in the Canadian province of British Columbia and operates gold mines in China. The company is listed on the Toronto and Hong Kong exchanges.

Huawei Teases Breakthrough in AI Computing

Huawei said it will unveil a breakthrough in AI computing technology on November 21 that can dramatically improve the utilization of graphic and neural processing units, addressing an issue limiting the efficiency of large-scale AI training and inference. The company says the technology can raise compute utilization from an industry average of 30-40 percent to about 70 percent, significantly unlocking the performance potential of existing hardware. The advance is achieved through software-based scheduling that unifies resource management across heterogeneous chips, such as Nvidia graphic processing units and Huawei Ascend neural processing units, while masking hardware differences from developers. People familiar with the product say Huawei's approach resembles the technology stack of Israeli startup Run:ai, acquired by Nvidia for US$700 million in late 2024.

Trump Exempts Some Food Imports from Tariffs

US President Donald Trump, who initially assured American consumers that his tariffs on imports wouldn't push up domestic prices, has exempted tariffs on coffee, cocoa, bananas, tomatoes, certain beef and other agricultural items as high prices persist in US grocery stores. Trump came into office promising lower consumer prices, but food inflation has remained stubbornly high. In September, food prices rose 2.7 percent from a year earlier. October data aren't available because of the long US government shutdown amid a political dispute over funding.

Economy & Markets

Shanghai Exports, Imports Beat National Average

Shanghai exports in the first 10 months of the year rose 10.5 percent from a year earlier to 1.6 trillion yuan (US$225 billion), and imports were up 1.3 percent to 1 trillion yuan. Total trade was up 5.2 percent, 1.6 points higher than the national average.

Temasek Invests in Chinese Robotaxi Firms

Singapore sovereign wealth fund Temasek Holdings invested in shares of Chinese robotaxi companies WeRide and Pony.ai in the third quarter, the South China Morning Post reported, citing stock exchange filings. The fund bought about 1.4 million shares of WeRide and 14,500 shares of Pony.ai, with a combined value of US$14 million. Temasek has a history of investing in autonomous driving, including Sweden's Einride and Israel's Autobrains. As of September 30, the fund had about US$2 billion in 16 US-listed Chinese stocks.

US Hedge Funds Retreat From Big Tech Stocks

Wall Street's largest hedge funds scaled back their investments in mega tech stocks, including Nvidia, Amazon, Alphabet and Meta, in the third quarter, Reuters reported. Their technology focus pivoted to application software, e-commerce and payments companies, according to regulatory filings from funds such as Bridgewater, Lone Pine Capital and Tiger Global and Balyasny Asset Management.

However, just when many people are arguing that investment in AI-related companies is coming off the boil, Warren Buffett's Berkshire Hathaway has disclosed the purchase of nearly 18 million shares, valued currently at about US$5 billion, in Google operator Alphabet. However, the investment company also disclosed a decrease in holdings of Apple shares.

Beijing's Business District Ranks Sixth in World

Beijing's central business district ranks sixth globally in the 2025 Global Business Districts Attractiveness Report, moving up one place from 2020. The survey ranked 30 major business districts in 19 countries on factors that include talent pool, urban amenities and innovation environment. New York City topped the list, followed by business districts in Tokyo, Paris and London. Hong Kong ranked 13, and Shanghai's Pudong-Lujiazui district was at 14.

Corporate

Maserati Slashes China Electric Car Prices

Maserati dealers in China are offering steep discounts on the Italian brand's first electric SUV, in a bid to revive slumping sales and raise the carmaker's profile in in the world's largest auto market. Several dealerships have advertised the Grecale Folgore at 358,800 yuan (US$50,542) before options, less than half its 898,800-yuan list price, according to posts circulating on social media and confirmed by several business outlets. Sales staff said the final on-road price approaches 400,000 yuan after options. That puts the Maserati model in direct competition with domestic rivals -- Xiaomi's SU7 series, Nio's ES6 and Li Auto's L7. The Grecale Folgore offers CATL battery technology and an official 533-kilometer range, or roughly 400 kilometers in mixed conditions.

Leadman Biochem to Buy Stake in Simcere

Beijing-based Leadman Biochemistry, a maker of in-vitro biochemical reagents, said it plans to spend 1.7 billion yuan (US$240 million) to buy a 70 percent stake in Simcere Sanroad Biological Products from Shanghai-based Baijiahui Investment Management and its affiliates in an all-cash deal. Nanjing-based Simcere's main product, TB-PPD, is widely used for tuberculosis screening in China.

Richemont Cites China in Quarterly Sales Growth

Swiss-based Richemont, the world's second-largest luxury-goods retailer, said its first sales growth in China in two years helped drive up third-quarter earnings, despite the headwinds of tariffs. The company reported a 14 percent rise in global sales to 5.2 billion euros (US$6.1 billion). It didn't break out specific figures for China but said sales in the Asia-Pacific region that includes China climbed 10 percent. Richemont's stable of brands includes Cartier, A. Lang & Söhne, Chloé, Piaget and Van Cleef & Arpels.

Shein Physical Store Expansion in France on Hold

China's online low-cost apparel platform Shein, which recently opened its first physical outlet in a a Paris mall under deal with Societe des Grands Magasins, has delayed plans to open five more stories in France. The French company said shoppers found prices at the Paris store too steep and put on hold opening additional outlets in Galeries Lafayette stores it owns in the provinces.