India called comments by U.S. Vice President J.D. Vance about immigrants from the country “deeply offensive” in an official government statement published on Friday.
Vance said on Thursday that the Trump administration wants foreign and local companies to “employ American workers,” and that they “cannot lay off American workers and then replace them with foreign indentured servants.”
He was speaking as the U.S. Department of Labor announced it would suspend Microsoft, Adobe and several major Indian information technology companies from its Permanent Labor Certification program, meaning they cannot apply for permanent residency for their employees on H-1 B visas.
Around 70% of H-1B beneficiaries in 2025 were born in India, per official data.
In a statement on Friday, India’s Ministry of External Affairs accused Vance of using “terminology that carries painful historical and colonial legacy connotations.”
“Such descriptions are unwarranted and ignore the fact that Indian professionals in the United States are highly educated and skilled contributors to its economy and innovation ecosystem,” the statement said.
Vance’s office did not immediately respond to a comment request from CNBC.
Vance was critical of Microsoft, accusing the company of replacing 6,000 laid-off workers with people on H-1B visas.
The Indian foreign ministry assured its citizens that measures announced by the U.S. will not affect the validity of existing H-1B visas or the status of H-1B visa holders and their dependents.
“Talent mobility adds value to both economies,” the statement said, adding that the suspensions “do not advance the shared ambitions of both countries.”
The Indian companies affected by the ban include Cognizant, Infosys, Capgemini, Tata Consultancy Services, Wipro and HCL.
NASSCOM, the IT industry body, said in a statement that Indian technology companies have “significantly reduced their dependence on H-1B visas” over the last few years, and are expanding domestic hiring to their U.S. workforces.
The largest Indian IT company, Tata Consultancy Services, said its H-1B applications were in “single digits” in the last two years, and it intends to hire another 15,000 people in the U.S. over the next five years.
In June, a federal judge blocked the $100,000 H-1B visa fee U.S. President Donald Trump imposed last year.
By CNBC
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Hello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
In Samuel Beckett’s tragicomedy, two men wait beside a barren tree for someone called Godot who never arrives. With the midterms nearing, Americans are waiting for a sustained drop in fuel prices that remains out of sight.
U.S. President Donald Trump has promised not to attack Iran until voters have had their say. That’s supposed to ease energy prices, but speculators on prediction market platform Kalshi aren’t convinced, placing more than 80% odds that gas will remain above $4 per gallon on Election Day next month.
Worries also arose in the AI trade. OpenAI told investors it reached about $50 billion in annualized revenue, not the $68 billion widely reported last month — dragging other heavyweight tech stocks down with it.
Trump said Thursday the U.S. will not attack Iran before the Midterm Elections, adding that the two sides were having “productive discussions.”
The president, whose approval ratings have fallen to career-lows, has sought to calm the rising energy costs weighing on American households. But speculators on prediction market platform Kalshi are not buying it, pricing in an 87% chance that the average gas prices will stay above $4 per gallon heading into the elections in November.
A day before, reports said that the Pentagon had recently told U.S. Central Command to finish preparations to resume major combat operations against Iran.
Oil eased off its highs after the post, but it didn’t give up its gains. Brent crude futures, the international benchmark, gained 4% to top $104 a barrel. U.S. West Texas Intermediate futures advanced 3.6% to settle at $91.49 per barrel.
The U.S. Treasury Department, meanwhile, sanctioned more than a dozen vessels that it says are connected to Iran’s “shadow fleet” used to transport oil and gas out of the country, as Washington seeks to further squeeze Tehran’s economy to end the war that is now in its eighth month.
Stock futures were near flat after an underwhelming revenue report from OpenAI rattled the AI trade. S&P 500 futures were up 0.09%, while Nasdaq 100 futures added 0.05%. Dow Jones Industrial Average futures advanced 23 points, or 0.04%.
OpenAI told investors that it reached roughly $50 billion in annualized revenue at the end of September, well short of the $68 billion figure widely reported late last month. Shares of Nvidia, Oracle, CoreWeave and other artificial intelligence names sank.
Vice President JD Vance announced the suspension of Microsoft, Adobe and six IT services firms from a program that helps skilled foreign workers get green cards.
“You’re a great American company, but you’ve got to hire great American workers,” Vance said of Microsoft.
“So we’re going to continue to support Microsoft and have a great relationship with Microsoft, but we’re also going to deny them the ability to apply for these permanent residencies until they show that they are going to get serious about putting American workers first,” Vance said.
SpaceX agreed to purchase a nationwide spectrum portfolio as it pushes its Starlink service deeper into the U.S. telecommunications market.
The deal involves the acquisition of a spectrum portfolio from Grain Management, which specializes in digital infrastructure, and is subject to approval by the Federal Communications Commission.
Elsewhere, Musk accused India’s “oligarchs” of blocking the launch of his company’s satellite internet service, Starlink, to protect their dominance in the market. The country’s telecom and internet service market is dominated by Reliance Chairman Mukesh Ambani’s Jio and Sunil Mittal’s Airtel, with both companies together holding over 80% market share.
“We are being blocked by certain oligarchs in order to maintain their monopolistic chokehold on the Indian people,” Musk said Wednesday stateside in a post on X, without naming his rivals. “You can guess who they are,” he said.
— Anniek Bao
The Indian billionaire investing in Trump’s refinery project is also buying more Venezuelan crude
Indian billionaire Mukesh Ambani’s Reliance Industries, which is investing in a historic U.S. oil refinery project proposed by President Donald Trump, has now emerged as the biggest buyer of Venezuelan crude outside the U.S.
Trump has been pushing India to buy more Venezuelan oil, but while state-owned oil companies are making opportunistic purchases, Reliance has been the primary buyer, according to Kpler data shared with CNBC. It shows that outside the U.S., India is the biggest destination for these supplies, with Reliance purchasing the bulk of that crude.
“Reliance’s Jamnagar complex has been the main destination for Venezuelan crude in India, and we expect it to remain the primary buyer,” Sumit Ritolia, lead research analyst at Kpler, told CNBC.
— Priyanka Salve
By CNBC
]]>WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of securities of Celsius Holdings, Inc. (NASDAQ: CELH) between February 21, 2025 and June 3, 2026, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 3, 2026.
SO WHAT: If you purchased Celsius securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Celsius class action, go to https://rosenlegal.com/cases/celsius-holdings-inc-2/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 3, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that: (1) defendants’ products failed to adequately disclose the cardiac risks of consuming Alani Nutrition LLC (“Alani Nu”) products; (2) by marketing Alani Nu drinks to consumers under the age of 18, Celsius was marketing its products to individuals who were particularly susceptible to known health risks posed by those products; (3) the foregoing created a non-speculative risk that Alani Nu consumers would suffer potentially fatal adverse health events; (4) the foregoing, once revealed, was likely to have a significant negative impact on Celsius’ business and reputation; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Celsius class action, go to https://rosenlegal.com/cases/celsius-holdings-inc-2/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
——————————-
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
WUHU, China, Oct. 08, 2026 (GLOBE NEWSWIRE) — The iCAUR V series is set to welcome a new member. The All-Way SUV iCAUR V25 will make its official debut on October 19 during the 2026 iCAUR International User Summit in Wuhu, China, appearing alongside the iCAUR V23 and iCAUR V27 for global users and media, further expanding the iCAUR V series lineup.
As the latest member of the iCAUR V series, the V25 carries forward the brand’s iconic boxy design DNA while further integrating the Future-Classic design philosophy. It also offers multiple powertrain options, including REEV and BEV, and is equipped with the i-AWD system. Combined with open ecosystem interfaces and personalized expansion space, the V25 delivers a richer all-scenario mobility experience.
An Unforgettable Boxy Silhouette, Defining Future-Classic Design
The iCAUR V25 carries forward iCAUR’s unforgettable classic boxy silhouette, with a near 1:1 body ratio and classic round headlamps creating a squared, upright and highly distinctive visual stance. Paired with a wider, more substantial tire profile beyond its class, it presents a high-stance design that embodies “Confident Stance.”
Its classic boxy design further integrates with future-oriented design language, giving full expression of the Future-Classic design philosophy. Classic is not a simple replication of the past, but rather a response to present and future lifestyles through new design language while preserving distinctive design identity.

[iCAUR V25 Exterior]
i-AWD with Multiple Powertrain Options, Seamless Switch Between Urban and Outdoor Drives
Facing diverse mobility scenarios such as urban commuting and outdoor exploration, the iCAUR V25 offers richer powertrain options. The Golden REEV (Range-Extended Electric Vehicle) powertrain delivers a fuel-and-electric mobility experience, enabling more flexible switching between daily commuting and long-distance travel. A BEV (Battery Electric Vehicle) option is also available for the V25, allowing users to freely choose the powertrain that suits their lifestyle and mobility needs.
The iCAUR V25 is also equipped with the class-leading i-AWD system, tackling diverse road conditions from urban roads to suburban exploration with stronger all-scenario capability. Whether for daily urban commuting or exploring farther outdoors, the V25 confidently handles diverse mobility scenarios. Reliable body safety provides trustworthy assurance for every journey.

[iCAUR V25 Exterior]
From Mobility Tool to Life Companion, Expanding Life’s Boundaries on Your Terms
For iCAUR, a vehicle is more than a means of getting from place to place. It is a way for users to explore and define life on their own terms.
Carrying forward iCAUR’s longstanding philosophy, of user co-creation, the V25 evolves from a mobility tool into a life companion. Its rich ecosystem interfaces and personalized modification space allow camping, cycling, outdoor exploration, towing and more lifestyles to integrate naturally. The high view, spacious, and flexible cabin leaves more possibilities for loading and use across different scenarios.
The V25 does not seek to define how users should use a vehicle, but rather leaves more choices to users. It can be a daily commuting partner or a weekend outdoor exploration companion; it can also retain its original character or integrate into users’ unique interests and lifestyles through different designs and functional expansions.
For iCAUR users, a vehicle is therefore not just a product, but an expression of personal lifestyle.

[iCAUR V25 Interior]
Every iCAUR Has Its Own Story
Different users build unique connections with their iCAUR through different interests, experiences and lifestyles. Behind every iCAUR, there can be a different story; and every user is able to define their vehicle in their own way.
From the V23 to the V27, and now to the V25, the iCAUR V series continues to enrich not only the product lineup, but also the possibilities for exploration, expression and creation for users with different lifestyles.

[iCAUR V25 Interior]
Serena Wang
Email: wangjieyun2@mychery.com
Website: iCAUR GLOBAL WEB
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8732e6be-784f-4d8b-8e20-6c7de1bd4a18
https://www.globenewswire.com/NewsRoom/AttachmentNg/2b54241f-9086-45c5-a4d4-74df86dacd71
https://www.globenewswire.com/NewsRoom/AttachmentNg/187f6a80-6e6f-4e2d-9739-468f2c74f5d6
https://www.globenewswire.com/NewsRoom/AttachmentNg/3016df1d-8955-4a92-9777-a29f08105616
At around 3:15 a.m. that day, heavy rain caused water to enter rental room No. 84/6 in Alley 84 on Street 11, Quarter 32, Thu Duc Ward. After noticing the flooding, Nguyen Thanh Gian and Nguyen Le Ngan Ai woke up to move their belongings and clean up.
While Gian was pushing his motorbike outside to a safe place, Ai went up to the loft to spread a plastic sheet in preparation for moving their belongings to higher ground.
While she was on the loft, Ai heard Gian calling for help. Looking down, she saw him standing in the water, his left hand tightly gripping an electrical wire while being electrocuted.
Ai immediately switched off the circuit breaker on the loft, but the section of wire was still carrying electricity. Hearing the calls for help, other residents in the neighborhood rushed over and switched off the main circuit breaker serving the row of rental rooms.
When people entered the room, Gian had collapsed in the water, with his hand still stuck to the electrical wire.
The victim was quickly taken to Thu Duc Regional General Hospital for emergency treatment but could not be saved.
After receiving the report, Thu Duc Ward Police coordinated with the PC01 Division, the Criminal Technical Division of Ho Chi Minh City Police and the Regional People’s Procuracy No. 2 to cordon off and examine the scene.
At an electrical outlet above the washing machine beneath the staircase, authorities collected a 48-centimeter section of red twin-core electrical wire. Its plastic insulation had peeled away in several places, exposing the copper core.
According to the initial assessment, Gian may have slipped while moving the belongings and grabbed the damaged wire, which was leaking electricity. Emergency medical records from the hospital also confirmed that Gian died from electrocution.
Following the incident, the Thu Duc Ward People’s Committee directed relevant agencies to coordinate support for the victim’s family in making funeral arrangements.
Source: laodong.vn
Source: Vietnam Insider
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Image: WILDx VOLTARA
Held at the historic Fine Arts Theatre in Beverly Hills, the event showcased WILDx Talks’ growing influence as a platform designed to discover, develop, and amplify extraordinary speakers. Often described as the “American Idol for Speakers,” WILDx gives emerging and established voices a high-profile stage to share their ideas with influential leaders, industry experts, media, and decision-makers.

Image: Jules Schroeder and Rhonda Swan
At the conclusion of the event, Glenda Radigonda was named the WILDx VOLTARA winner, recognized for the strength of her message, stage presence, and ability to connect with the audience.

Image: Glenda Radigonda
“WILDx is about far more than delivering a speech,” said Rhonda Swan, co-founder of WILDx Talks. “It is about creating a platform where powerful ideas meet meaningful relationships, visibility and opportunity. Every speaker who stepped onto this stage brought something unique, and Glenda embodied the authenticity, resonance and impact that WILDx represents.”
A Powerful Lineup of Speakers Takes the WILDx Stage
WILDx VOLTARA featured a dynamic lineup of speakers representing leadership, entrepreneurship, health, transformation, business, innovation, purpose, and global impact.
Taking the WILDx stage were:
The event also featured Russ Davis as a keynote speaker, bringing another high-profile voice to the WILDx VOLTARA stage.

Image: Brian Swan, Rhonda Swan and Russ Davis
Each speaker was given a focused window to deliver a powerful TED-style presentation designed to communicate one central message, move the audience, and create opportunities that extend well beyond the stage.
The speakers were evaluated not simply on presentation skills, but on the strength of their message, authenticity, delivery, resonance, and ability to create meaningful impact.
Glenda Radigonda Named WILDx VOLTARA Winner
The event culminated with the announcement of Glenda Radigonda as the WILDx VOLTARA winner.
Radigonda stood out for a presentation that connected deeply with both the audience and the judging panel, ultimately earning her the top recognition of the event.
Her win represents the central purpose of WILDx: to identify powerful voices, provide them with a meaningful platform, and create opportunities for their message to reach a much larger audience.
The winning moment was celebrated on stage alongside fellow speakers, WILDx leadership, judges, and guests, creating one of the defining moments of WILDx VOLTARA.
More Than a Speaking Competition
WILDx Talks was created to transform the traditional speaking experience by combining the excitement of a live competition with the credibility, visibility and opportunities of a global media and business platform.
The WILDx experience is built around the principle of Return on Connection
, the belief that the most valuable outcome of an event is not simply what happens on stage, but what becomes possible because of the relationships created in the room.
WILDx VOLTARA brought that mission to life through powerful talks, celebrity and industry participation, media interviews, red-carpet appearances, entertainment, networking, and high-level conversations.
The event was hosted by Berké Brown, with leadership from WILDx founders Rhonda Swan and Jules Schroeder.

Image: Berké Brown
Celebrities, Media and Industry Leaders Join WILDx VOLTARA
WILDx VOLTARA also attracted established leaders from entertainment, media, business, wellness and personal development who participated in the experience as judges, guests, media personalities and supporters.
The judging panel brought substantial experience from the worlds of entertainment, entrepreneurship, communication, health, media and global business, providing speakers with direct feedback after their presentations.
Rather than existing separately from the speakers, the judges served as part of the larger WILDx ecosystem — connecting speakers with experienced leaders capable of opening conversations, relationships, and opportunities beyond the event.
Red Carpet and Media Attention in Beverly Hills
The WILDx VOLTARA experience extended beyond the theater stage.
Speakers, celebrity guests, judges, and VIP attendees participated in red-carpet arrivals, photography, media interviews, and press coverage surrounding the event.
Media teams captured interviews with speakers and notable attendees, while photographers documented the stage, audience, red carpet, winner announcement, and behind-the-scenes moments throughout the day.
The event created an additional media platform for speakers to discuss their work, businesses, missions, and messages beyond their individual presentations.
Creating Success Beyond the Stage
For WILDx, success is not limited to who wins the competition.
The platform is intentionally designed to put speakers into rooms with people who can help accelerate their next chapter.
Through the WILDx experience, speakers can connect with:
Previous WILDx experiences have generated speaking opportunities, strategic partnerships, media exposure, investor conversations, international collaborations, and business relationships.
This is the foundation of Return on Connection
.
“Success at WILDx is not measured only by applause,” said Jules Schroeder. “It is measured by what happens after the event, the conversations that continue, the partnerships that form and the opportunities that emerge because the right people were brought together.”
WILDx Continues to Build a Global Stage
WILDx VOLTARA represents the continued evolution of WILDx Talks as a platform for speakers, entrepreneurs and leaders ready to bring important ideas to a larger audience.
Footage and interviews captured throughout the Beverly Hills event will continue to amplify the voices of the WILDx VOLTARA speakers across digital media, social platforms, press, television, YouTube and future WILDx campaigns.
The event will also serve as a launching point for the next generation of WILDx speakers.
About WILDx Talks
WILDx Talks is a global speaking and media platform designed to discover, develop and amplify powerful voices.
Combining the excitement of a live speaker competition with the reach of media, PR and an international business network, WILDx provides speakers with opportunities for visibility, credibility, connection and growth.
Often described as the “American Idol for Speakers,” WILDx is built around the belief that the right message, delivered to the right audience, can create meaningful change.
Through live events, speaker development, media exposure, strategic relationships, and its global community, WILDx helps speakers turn their ideas into influence and opportunity.
Media Contact
WILD Global Inc.
support@wildxtalks.com
WildXTalks.com
wildglobalinc.com
CONTACT: support(at)wildxtalks.com
Identify, Assess, Act in the Community
HeartEye’s Dr.Noon CVD test, developed by Mediwhale, uses AI to estimate cardiovascular risk from a retinal scan taken during a routine visit to a participating optician. When a patient is flagged at elevated risk, their Dr.Noon report QR code can now be scanned into HealthTab at a nearby pharmacy. The pharmacist carries out a point-of-care cholesterol test, which feeds an automatic QRISK3 calculation, with all results displayed together on the patient’s HealthTab dashboard to provide a more complete assessment of their cardiovascular risk.
With newly qualified pharmacists in England registering as independent prescribers from September 2026, the pathway has the potential to take patients from identification and assessment through to treatment, where appropriate, within the community. This directly supports all three of the NHS 10 Year Health Plan’s major shifts: from hospital to community, from analogue to digital, and from sickness to prevention.
For pharmacy partners, the pathway brings in new patients with identified clinical need, helping them grow their clinical services and opening a new route for patients into the HealthTab network.
“Screening is only valuable if it leads to action,” said Rodger Seccombe, CEO of Avricore Health. “Too often, people found to be at risk are told to book a GP appointment, and many never do. The expanding Barts Health programme has shown what is possible when pharmacies can assess risk and, where appropriate, start treatment in the same visit. This integration extends that model to people identified through their optician, and we believe it can be replicated across other community-based screening initiatives that identify patients upstream of the pharmacy.”
HealthTab
at the Core of Scalable, Integrated PoCT
HealthTab
provides a complete, turnkey solution underpinning national pharmacy-based PoCT networks, including best-in-class instruments, consumables, onboarding, training, and ongoing support for participating sites.
At its centre is a secure cloud-based platform that seamlessly connects point-of-care analyzers, patient results, QC data, and pharmacist workflows, creating a unified digital infrastructure for community-based testing.
This integrated approach ensures quality-assured testing, consistent data capture across locations, and real-time analytics to support public-health reporting and performance monitoring, while reducing implementation complexity for pharmacy partners.
Commitment to Quality and Accuracy
HealthTab
is designed to meet the highest standards of analytical performance and reliability. Through its partnership with CEQAL Inc., a world-leading reference method laboratory and member of the CDC Cholesterol Reference Method Laboratory Network (CRMLN), HealthTab operates a comprehensive quality management program that mirrors the rigour of accredited clinical laboratories.
This includes centralized lot monitoring of reagents, mandated internal quality control, and regular external quality-assessment (EQA) events, ensuring that results generated across every participating pharmacy are accurate, traceable, and consistent with internationally recognized reference standards.
About Avricore Health Inc.
Avricore Health Inc. (TSXV: AVCR) is a pharmacy service innovator focused on acquiring and developing early-stage technologies aimed at advancing pharmacy practice and patient care. Through its flagship offering HealthTab
, a wholly owned subsidiary, the Company’s mission is to make actionable health information more accessible to everyone by creating the world’s largest network of rapid testing devices in community pharmacies.
Contact:
Avricore Health Inc.
info@avricorehealth.com
avricore.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including statements regarding: the potential for the integration to create a new referral pathway and support the growth of pharmacy partners’ clinical services; the potential for pharmacist prescribing to enable treatment within the pathway; the anticipated benefits for patients and the NHS; the planned showcase of the integration at The Pharmacy Show 2026; and the development of further referral pathways into the HealthTab
network. Forward-looking information can generally be identified by words such as “will,” “may,” “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” “scheduled,” “targets,” and similar expressions.
Forward-looking information is based on the Company’s current expectations, estimates, and assumptions, including that general business and economic conditions will not change materially, that the Company will be able to execute its business strategy and growth plans, that required regulatory and third-party approvals will be obtained, and that key personnel will be retained. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors that may cause actual results to differ materially, including: failure to meet regulatory requirements; changes in market conditions; potential downturns in economic conditions; dependence on key partnerships; competition; and other factors described in the Company’s public filings available at www.sedarplus.ca.
Forward-looking information is provided as of the date of this news release and the Company does not undertake to update such information except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Indian billionaire Mukesh Ambani’s Reliance Industries, which is investing in a historic U.S. oil refinery project proposed by President Donald Trump, has now emerged as the biggest buyer of Venezuelan crude outside the U.S.
Trump has been pushing India to buy more Venezuelan oil, but while state-owned oil companies are making opportunistic purchases, Reliance has been the primary buyer, according to Kpler data shared with CNBC. It shows that outside the U.S., India is the biggest destination for these supplies, with Reliance purchasing the bulk of that crude.
“Reliance’s Jamnagar complex has been the main destination for Venezuelan crude in India, and we expect it to remain the primary buyer,” Sumit Ritolia, lead research analyst at Kpler, told CNBC.
In September, India imported 257,000 barrels per day of Venezuelan crude, of which 76% went to Reliance Industries, data showed. The Jamnagar refinery is the world’s “largest and most complex single-site refinery” with crude processing capacity of 1.4 million barrels per day, according to Reliance.
Venezuelan heavy and extra-heavy grades of crude are relatively difficult barrels to process and are not universally suitable across India’s refining system, Ritola said, adding that the Jamnagar complex is particularly well configured for these barrels.
In March, Trump had announced that the U.S. will build its first refinery in 50 years with investment from India’s Reliance Industries. The president had thanked Reliance for this “tremendous investment.”
While Reliance has not confirmed the size of investment, Trump in a Truth Social post had said that “THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY.”
Reliance is the most valued company in India, with a market capitalization of more than $169 billion.
Reliance’s Venezuelan purchases come at a time when India’s procurement of Russian oil has drawn the ire of the U.S., where lawmakers have given Trump the power to impose up to 100% tariffs on countries buying energy from Moscow.
Despite mounting pressure to buy more energy from the U.S. and cut its dependence on Russian oil, the Indian government has insisted that its decisions are driven by the need to ensure energy security for its people.
While oil supplies in September from Russia to India have “moderated” from exceptionally high levels in June and July, that is largely driven by the stronger competition between Beijing and New Delhi and not the threat of tariffs, Ritolia said.
India is the largest destination for Russian crude, securing a supply of 1.82 million barrels per day in September versus China’s 1.49 mbd, according to Kpler data, much more than Venezuelan purchases.
For October, 350,000 barrels per day of crude supplies from Venezuela are bound for India, though some of these could land in November because of the long voyage time, Ritolia said.
By CNBC
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AI agent startup Manus has raised more than $500 million in its first funding round since Meta was forced to abandon its acquisition of the company.
Butterfly Effect, Manus’ parent company, said Thursday that the round was led by private equity firm Boyu Capital and venture investor IDG Capital, with follow-on investment from existing shareholders Tencent, HSG and ZhenFund.
The company did not disclose its post-funding valuation. Bloomberg reported last month that Manus was set to double its valuation to $4 billion in this financing round, making it the country’s most valuable AI agent maker.
The raise suggests investors aren’t deterred by Beijing’s unprecedented order to block Meta’s short-lived $2 billion acquisition. Meta was working to integrate Manus’ team and technology into its system when authorities blocked the deal. It also shows that appetite for AI-agent startups has held up, even as the underlying foundation models improve quickly and price competition intensifies.
“The fundraising shows that the short-term fallout of the Meta case has been contained and investors are willing to back Manus as an independent company,” said Dan Wang, China director at Eurasia Group, also noting the renewed confidence in the commercial potential of AI agents.
Manus could ultimately aim for a public listing but the more imminent task would be revamping its business and ownership structure to prove profitability and align with Beijing’s regulatory requirement, analysts say.
“The immediate task for Manus now is proving scale, profitability and regulatory alignment,” said Han Lin, China country director at The Asia Group.
Earlier this month, Manus said it had resumed independent operations after its split from Meta and that its founding team would continue to push forward generative AI agents for users globally.
Once seen as a blueprint for Chinese startups seeking global reach, Manus has become a cautionary tale for companies squeezed between regulators in Beijing and Washington.
The company launched in early 2025 in China, then moved its staff to Singapore after winning backing from U.S. venture firm Benchmark. Meta announced the acquisition in December. Chinese regulators later blocked it. The National Development and Reform Commission said it had decided to “prohibit foreign investment in the Manus project.” By then, Meta had begun integrating Manus’ team and technology into its own.
Since the split, the AI startup has unveiled Manus 2.0, built on a new in-house execution system called Cascade. It also launched Cue, a standalone personal-agent app in which each agent has its own email address, phone number, and mobile wallet.
Meta has pressed ahead with its own personal AI agent, launching its Muse agent in early September, modeled on the open-source AI agent OpenClaw.
The “close integration” with Manus “does not disappear when the transaction is reversed,” said Matthias Hendrichs, a Singapore-based adviser to global AI firms.
“You can separate companies, but you cannot make engineers forget what they learned.”
By CNBC
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