2025-09-08 11:18

Sept 8 (Reuters) - Singapore's central bank said on Monday it has secured $510 million in committed capital for a fund that would deploy the money to support green and sustainable infrastructure opportunities in Southeast and South Asia. The Monetary Authority of Singapore said it secured funding from a number of regional players, including Asia-focused lender HSBC (HSBA.L) , opens new tab, (0005.HK) , opens new tab, the Australian government and Singapore's state-owned investor Temasek (TEM.UL), among other parties. Sign up here. The fund, named Green Investments Partnership, is part of Singapore's Financing Asia's Transition Partnership initiative launched by the central bank in 2023 , opens new tab, and will look to support investments in sustainable transport, renewable energy and storage. Pentagreen Capital, a sustainable infrastructure debt financing platform established by HSBC and Temasek, is serving as the fund manager. "Pentagreen has brought together a diverse group of partners, which are participating across the different commercial and concessional tranches of the capital structure to de-risk and finance marginally bankable green infrastructure projects in the region," said Gillian Tan, Assistant Managing Director (Development & International) and Chief Sustainability Officer at the central bank. The initiative was launched in 2023 with commitments to deliver on multiple environmental and social targets, including meeting the region's carbon reduction targets and creating jobs, among others. https://www.reuters.com/sustainability/climate-energy/singapore-central-bank-secures-510-million-back-green-infrastructure-asia-2025-09-08/

2025-09-08 11:17

Sept 8 (Reuters) - HashKey Group will launch its inaugural Digital Asset Treasury (DAT) focused fund with an initial target size of $500 million, the Hong Kong-based virtual asset firm said on Monday. The multi-currency fund's DAT strategy refers to public companies accumulating cryptocurrency assets to capitalise on higher token prices and a softening regulatory environment. Sign up here. The strategy has surged in popularity this year as many companies seek to replicate the success of U.S.-based Strategy (MSTR.O) , opens new tab, a software company that began accumulating bitcoin in 2020 and held more than $63 billion in cryptocurrency as of June. Strategy copycats have increased their bitcoin holdings to nearly 100,000 bitcoin collectively, according to Standard Chartered. The trend of DAT adoption is not happening only in the U.S. but in Hong Kong, Japan and many other equity markets, Binance founder Changpeng Zhao told a bitcoin conference in Hong Kong last month. Through investing in and operating top-tier DAT projects globally, HashKey aims to advance crypto asset standardisation and accelerate the development of a sustainable Web3 ecosystem, it said in a statement. Web3 refers to a version of the internet that is decentralised and operates on blockchain technology. "HashKey will build a diversified portfolio by initiating and investing in a range of DAT projects focused on mainstream crypto assets, with an initial emphasis on Ethereum and Bitcoin ecosystem projects," it said. Founded in 2018, HashKey Group offers a wide range of digital asset financial services including asset management, brokerage, tokenization, as well as running Hong Kong's largest licensed crypto exchange. https://www.reuters.com/sustainability/climate-energy/hong-kongs-hashkey-launch-500-million-digital-treasury-fund-2025-09-08/

2025-09-08 11:17

LONDON, Sept 8 (Reuters) - London's underground rail network came to a standstill on Monday as staff began a week of strikes over pay and working conditions, disrupting travel for commuters and tourists. Almost no underground trains are expected to run until Thursday, so that people who take 3.7 million daily journeys on the "Tube" were either working from home or finding other ways to get around. Sign up here. Forest, which operates 15,000 e-bikes in London, said it experienced four times its usual demand at 9 a.m. Other commuters switched to buses, or relied on the few other train lines that were working, with most reporting longer journeys. "The prospect of it being all week, it's a bit of a nightmare," said legal counsel Laura Sutton, 46, who was near London Bridge station. Transport for London, which operates the public transport network, said it had offered staff a 3.4% pay rise, but that the union would only accept a deal that led to a reduction in the working week. The RMT trade union said the dispute centred on pay, fatigue management, shift patterns and a reduction in hours. Prime Minister Keir Starmer's spokesperson told reporters that he wanted a resolution. "Londoners who are trying to get to work, trying to drop their kids off in school, businesses who rely on the Tube for work and footfall will be fed up with these strikes," they said. Outside the Tower of London, Peter Rolf, 58, from Germany, said his family had decided to cut their two-day trip to London to one, spending more time elsewhere in England. Patricia Ware, 75, who was visiting from her home near Chicago in the U.S., said it had taken much longer than it should to reach the historic castle. "We had trouble getting a taxi to get here," she said. But she was still enjoying London: "Traveling at best is a hassle, so we just go with the flow." https://www.reuters.com/business/world-at-work/londons-tube-network-shuts-workers-begin-week-strikes-2025-09-08/

2025-09-08 11:06

Gold breaches $3,600 for the first time Speculators raise long positions in bullion - CFTC A 88% chance of 25-bp rate cut in September - CME FedWatch Sept 8 (Reuters) - Gold's rally extended beyond the $3,600 level for the first time on Monday after soft U.S. jobs data cemented expectations of an interest rate cut by the U.S. Federal Reserve next week. Spot gold rose 0.9% to $3,617.79 per ounce at 1209 GMT after hitting a record high of $3,622.07 earlier in the session. Sign up here. Bullion has surged about 37% so far this year, building on a 27% gain in 2024, driven by a weaker dollar, strong central bank buying, a soft monetary policy backdrop, and geopolitical and economic uncertainty. U.S. gold futures for December delivery were unchanged at $3,657.20. U.S. job growth weakened sharply in August, data showed on Friday, and the unemployment rate rose to a nearly four-year high of 4.3%, confirming a softer labour market and sealing the case for a Fed rate cut next week. "(Rate cut bets) are boosting the demand of gold. Moreover, the overall geopolitical scenario is extremely uncertain ... we should consider that a significant part of the demand is also coming from central bank buying," said Carlo Alberto De Casa, an external analyst at banking group Swissquote. Traders have priced in a 88% chance of a 25-bp cut next week, according to the CME FedWatch tool. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies. "We look for gold to rise to $3,700/oz by mid next year," said UBS analyst Giovanni Staunovo. Benchmark 10-year U.S. Treasury yields, meanwhile, were near their lowest in five months. Focus now shifts to U.S. Producer Price Index data on Wednesday and the Consumer Price Index on Thursday, that could offer more clarity on the size of the Fed's expected rate cut. Meanwhile, China's central bank added gold to its reserves in August, extending purchases of bullion into a 10th straight month, official data showed on Sunday. Elsewhere, spot silver rose 0.6% to $41.22 per ounce. Platinum climbed 0.6% to $1,381.61, and palladium gained 1.4% to $1,125.19. https://www.reuters.com/world/india/gold-hits-record-high-above-3600oz-traders-weigh-fed-rate-cut-bets-2025-09-08/

2025-09-08 10:49

Eight OPEC+ members to lift output by 137,000 bpd from October Russia hits Ukraine with biggest air attack of war Trump says European leaders to visit US over Russia-Ukraine war LONDON, Sept 8 (Reuters) - Oil prices climbed more than $1 on Monday, regaining some of last week's losses, after OPEC+'s output hike was seen as modest and due to concerns over the possibility of more sanctions on Russian crude. OPEC+ flagged plans to further increase production from October but the amount was less than some analysts had anticipated. Reuters reported earlier this month that members were considering another hike. Sign up here. "The market had run ahead of itself in regard to this OPEC+ increase," said Ole Hansen, head of commodity strategy at Saxo Bank. "Today we're seeing a classic sell the rumour, buy the fact reaction." Brent crude climbed $1.45, or 2.2%, to $66.95 a barrel by 1200 GMT, while U.S. West Texas Intermediate crude rose $1.36, or 2.2%, to $63.23 a barrel. Both benchmarks fell more than 2% on Friday as a weak U.S. jobs report dimmed the outlook for energy demand. They lost more than 3% last week. OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, agreed on Sunday to further raise oil production from October. OPEC+ has been increasing production since April after years of cuts aimed at supporting the oil market. The latest decision comes despite a likely looming oil glut in the Northern Hemisphere winter months. The eight members of OPEC+ will lift production from October by 137,000 barrels per day. That, however, is much lower than increases of about 555,000 bpd for September and August and 411,000 bpd in July and June. The impact of the latest increase is expected to be relatively low, because some members have been overproducing. So the higher output level would likely include barrels that are already in the market, analysts said. "Expectations of tighter supply from potential new U.S. sanctions on Russia are also lending support," said Toshitaka Tazawa, an analyst at Fujitomi Securities. U.S. President Donald Trump said on Sunday he is ready to move to a second phase of sanctioning Russia, the closest he has come to suggesting he is on the verge of ramping up sanctions against Moscow or its oil buyers over the war in Ukraine. New sanctions on buyers of Russian oil could disrupt crude flows, energy trader Gunvor's [RIC:RIC:GGL.UL] global head of research and analysis, Frederic Lasserre, said on Monday. Russia launched its largest air attack of the Ukraine war over the weekend, setting the main government building on fire in central Kyiv and killing at least four people, Ukrainian officials said. Trump said on Sunday that individual European leaders would visit the United States on Monday and Tuesday to discuss how to resolve the conflict. In a note over the weekend, Goldman Sachs said it expects a slightly larger oil surplus in 2026 as supply upgrades in the Americas outweigh a downgrade to Russian supply and stronger global demand. It left its Brent/WTI price forecast unchanged for 2025 and projected the 2026 average at $56/$52 a barrel. https://www.reuters.com/business/energy/oil-gains-after-opec-output-hike-seen-modest-2025-09-07/

2025-09-08 10:46

BRUSSELS, Sept 8 (Reuters) - The European Union's sanctions envoy David O'Sullivan is in Washington with a team of experts to discuss further sanctions against Russia with U.S. counterparts, the European Commission said on Monday. On Sunday, U.S. President Donald Trump said he was ready to move to a second phase of restrictions, the closest he has come to suggesting he is on the verge of boosting sanctions against Moscow over its war in Ukraine. Sign up here. EU Council President Antonio Costa said new sanctions were being closely coordinated with the U.S., and EU officials are hopeful of better cooperation after several disappointments early in the year as Trump pursued his own peace talks with Russian President Vladimir Putin instead. The United States has not joined other Group of Seven nations (G7) - the EU, Britain and Canada - in lowering the price cap on Russian crude oil before sanctions are levied to $47.60 a barrel. However, Trump has announced steep tariffs on U.S. imports from India in part due to its major Russian energy purchases. The EU is currently drafting a 19th package of Russia sanctions, which EU diplomats said was likely to include more listings of Chinese companies, Russian banks and vessels in Moscow's sanctions-evading "shadow fleet", as well as a transaction ban on Russian oil. The Kremlin said on Monday that no sanctions would ever force Russia to change course. https://www.reuters.com/world/europe/eu-envoy-washington-talks-russia-sanctions-commission-says-2025-09-08/