The ⁠fire, which broke out on Tuesday, ⁠was ‌extinguished, ⁠the plant’s ​press ‌service said.

(Reporting ​by Marina ⁠Bobrova and Vladimir Soldatkin; Editing by Muralikumar ​Anantharaman)

HONG KONG/HANOI, Aug 26 (Reuters) – France’s BNP Paribas and South Korea’s KB Kookmin Bank are in separate talks to acquire at least a 15% stake in Vietnam’s Techcombank as strategic investors, in a deal that could be worth $2 billion, two sources said.

The potential deal, which has not been reported ​previously, would give the winner rare access to Vietnam’s fast-growing banking market and end Techcombank’s long search for ‌a foreign strategic partner.

Techcombank is seeking a valuation of about two times its book value, said the sources, who are familiar with the deal discussions but spoke on condition of anonymity as they were not authorised to speak to the media.

If agreed, that would value a 15% stake in Vietnam’s third-largest privately owned bank by total assets at around $2 billion, and would represent about a 55% premium over its current market price. Techcombank stock is ‌down 9% ​this year as of Tuesday.

KB Kookmin Bank said it would not comment on ⁠market rumours or speculation, as part of ⁠South Korea’s capital markets and disclosure rules. Spokespersons for Techcombank and BNP Paribas declined to comment.

The latest deal talks come as foreign banks are seeking a bigger foothold in Vietnam by extending hard-currency loans to local lenders squeezed between rising domestic funding costs and government pressure to expand credit.

Several foreign banks operate in Vietnam through branches, and more could enter ​under the government’s plan to establish international financial centres, analysts said, though key details remain unclear.

Japanese and South Korean banks are already strategic investors in some of the country’s largest lenders. Japan’s Sumitomo Mitsui Banking Corp bought a 15% stake in ⁠VPBank in 2023.

FAST-GROWING BANKING SECTOR

Vietnam caps foreign ownership at 30% for most ⁠banks. In Techcombank, foreign ownership currently stands at around 20.5%, and the sources said interested bidders ​are weighing several options including purchases from existing foreign investors.

No formal agreement has been reached and there is no certainty that the ​talks would result in a deal, they said, adding Techcombank was likely to select only one of ‌the two bidders.

Valuation remains the main hurdle as Techcombank is seeking a sharply higher premium to its current market value, one of the sources said, adding that a strategic buyer would be buying future growth and access to a scarce banking platform.

A deal could be reached by the end of 2026 or the first half of 2027, depending on negotiations, the sources said.

Techcombank has long ⁠said it is open to a foreign strategic investor. It is one of Vietnam’s few large privately owned banks without such a strategic partner.

For BNP Paribas or KB Kookmin, a Techcombank stake would offer exposure to Vietnam’s expanding middle class, rising wealth management ⁠demand and fast-growing private banking sector.

BNP Paribas and ‌KB Kookmin Bank already operate branches in Hanoi and Ho Chi Minh City, while KB ⁠Financial Group, Kookmin’s parent, has a majority-owned securities unit in Vietnam.

Founded in 1993, Techcombank had ​more than ‌18 million clients at the end of 2025 and covered well over half of Vietnam’s ​high-net-worth and affluent ⁠customers, according to its 2025 annual report.

Techcombank’s total assets were 1,273 trillion dong ($48.76 billion) at the end of June 2026, with customer deposits amounting to 697.4 trillion dong, according to its financial statements.

First-half pretax profit rose 22.5% from a year earlier to 18.5 trillion dong, driven by growth in net interest income and fee income, according to the bank.

($1 = 26,107.0000 dong)

(Reporting by Yantoultra Ngui in Hong Kong and Phuong Nguyen in Hanoi; Additional reporting by Francesco Guarascio in Hanoi, Tom Westbrook in Singapore and Joyce Lee in Seoul; Editing ​by Sumeet Chatterjee and Muralikumar Anantharaman)

LONDON/OSLO, Aug 26 (Reuters) – Six months into the U.S.-Iran war, Qatar is among the ​conflict’s biggest economic casualties, with its ‌liquefied natural gas exports slashed by 96%, data shows.

Saudi Arabia, the UAE, Iraq and Kuwait have seen their oil exports hit, but by nowhere ‌near ​as much.

Qatar has lost $24 billion ⁠in gas sales, ⁠which is about five months’ worth of income for the country based on 2025 data, Reuters calculations show.

While neighbouring Gulf exporters ​have managed to sneak oil secretly out of the Strait of Hormuz, Qatar ⁠has exported just 18 ⁠LNG cargoes, down from 509 ​in the same period last year, according to ​data intelligence firm ICIS. Two Qatari tankers ‌have been attacked.

State-owned LNG producer QatarEnergy did not respond to a Reuters request for immediate comment.

Before the war Qatar supplied about ⁠one-fifth of the world’s daily LNG. Exports from the U.S. have offset some of that lost ⁠supply.

Still, European ‌gas storage has fallen to ⁠a historic low for the time ​of ‌year, exposing the continent to possible ​gas price ⁠spikes in the event of a cold winter this year.

(USD 1 = QAR 3.64)

(Reporting by Marwa Rashad in London, Nora Buli in Oslo and Curtis Williams in Houston; editing by ​Jason Neely)

A holding pattern in global markets has emerged as traders await earnings from Nvidia that will ​be a test of confidence in the AI trade while ‌rising hopes of supplies moving through the Strait of Hormuz pushed oil prices lower in a reprieve for bond yields.

Brent crude futures fell for a third straight day on Wednesday, sliding more than $2 to $86.22 per barrel after Iran said it had ‌restarted ​talks with neighbour Oman to manage the ⁠Strait of Hormuz amid heightened ⁠economic pressure from U.S. President Donald Trump. [O/R]

The rising optimism in the face of little evidence of immediate relief to supply challenges suggests investors are setting themselves up, yet again, for disappointment.

Commodity vessel transits ​through the Strait of Hormuz hit their lowest level in three months, underscoring the supply constraints facing the world due to the ⁠nearly six-month long conflict.

Then there’s Wednesday’s ⁠main event, second-quarter results from Nvidia, the poster child ​of the AI frenzy. Over the previous 12 quarters, its market value ​has swung by an average 7.4% following its earnings report. ‌This time, options traders are pricing in a less manic reaction — only a $280 billion or 5.4% move in Nvidia’s market value after it reports.

The U.S. dollar was steady ahead of U.S. PCE inflation data later ⁠in the day and Jackson Hole over the weekend, as traders await cues for the monetary policy outlook. Markets have been grappling with the U.S. ⁠Treasury department’s move to ‌buy back bonds to help cap a surge ⁠in long-end yields.

The move to calm the bond market ​has ‌piled pressure on the dollar, catapulting spot gold ​and bitcoin near ⁠three-month highs as the “debasement trade” persists.

And finally, we end with the sad news that country music legend Dolly Parton died on Tuesday in Nashville. She was 80.

Key developments that could influence markets on Wednesday:

• U.S. PCE data

• UK CBI distributive trades for August

(By Ankur Banerjee in Singapore; Editing ​by Sonali Paul)

JAKARTA, Aug 26 (Reuters) – Destry Damayanti, the sole candidate nominated for Indonesia’s central bank governor, on Wednesday told a vetting panel she will look to support growth and job creation while ensuring financial stability if she becomes Bank Indonesia’s chief.

Destry, 62, currently interim governor, ​is undergoing a “fit and proper” hearing in parliament for the role, which could see her become ‌the first woman to take the top job.

It comes at a tumultuous time in Indonesia, with unease among businesses and investors about fiscal management, central bank autonomy, equity market transparency and the stewardship of the $1.4 trillion G20 economy.

“BI is not only tasked with maintaining the stability of the rupiah exchange rate, the stability of the payment system and the stability of the financial ‌system, but ​also with implementing a policy mix that can create an economic ⁠environment conducive to real sector growth and ⁠job creation,” Destry told parliament’s financial committee in her opening remarks.

With parliament dominated by parties allied with President Prabowo Subianto, senior deputy governor Destry is widely expected to be confirmed by legislators, who have not rejected a sitting president’s nominee for the post since 2008.

Destry needs to pass a plenary ​vote before being appointed by the president. The committee’s decision on Destry is expected on Thursday, with the interview process for the senior deputy chief slot expected later on Wednesday.

Reuters had reported Destry was the ⁠frontrunner for the job and the August 10 announcement of her ⁠candidacy gave a boost to the rupiah, which has plunged amid capital outflows ​triggered by anxiety and perceptions of policymaking uncertainty.

The rupiah is among Asia’s worst performing currencies, down about 6% against ​the U.S. dollar, while Indonesian stocks have fallen more than 25% so far this year.

EXCHANGE ‌RATE STABILISATION TO BE STRENGTHENED

Former economist Destry said exchange-rate stabilisation efforts will continue to be strengthened through smart intervention, while pro-market monetary operations will be optimised to improve policy transmission and ensure adequate liquidity for money markets, the banking sector and the real economy.

Sentiment took a hit with the sudden resignation last month of central ⁠bank governor Perry Warjiyo midway through his second term, which followed the exit last year of longtime Finance Minister Sri Mulyani Indrawati, who was widely respected for her fiscal prudence.

It is not clear whether the new governor would be ⁠appointed for a full five-year term, ‌or the remainder of Warjiyo’s tenure, which expires in 2028.

Economists have said the ⁠Cornell-educated Destry, a senior Bank Indonesia deputy governor since 2019, would bring ​continuity to ‌central bank policy and would prioritise stability while maintaining a good working relationship ​with the Prabowo ⁠administration.

At her first meeting as interim governor last week, the central bank held rates steady, prioritising rupiah stability while pledging to deploy other tools to support growth. Analysts said the policy tone was unchanged from that of Warjiyo.

The central bank has raised interest rates by 100 basis points since May to support the rupiah, including its first off-cycle benchmark rate hike in eight years in June.

(Reporting by Stefanno Sulaiman and Bernadette Christina; Writing by Gibran ​Peshimam; Editing by Martin Petty )

(Reporting ​by ‌Rishabh Jaiswal ​and ⁠Michelle Nichols; Editing by Muralikumar ​Anantharaman)

WASHINGTON, Aug 25 (Reuters) – Log Cabin Republicans, a conservative gay rights group, said it is ending advocacy ​and support for transgender causes, with ‌the decision coming at a time when Republican President Donald Trump’s administration has acted to limit transgender rights.

• Ross Hemminger, the conservative gay rights ‌group’s ​board president, said in ⁠an online essay ⁠that the board of directors has voted for its advocacy to “concentrate specifically on issues of sexual orientation and conservative values — in ​other words, we are an LGB advocacy organization.”

• Hemminger, who said Log ⁠Cabin Republicans first embraced ⁠transgender rights issues in 2015, wrote ​that the transgender movement now pushes a “radical ​gender ideology.”

• Trump has cast the gender ‌identity of transgender people as a lie, issued a series of executive actions targeting their rights and stated in a directive ⁠that the U.S. government will recognize only two sexes: male and female.

• He has also launched ⁠probes against ‌educational institutions and threatened to ⁠cut their federal funding over ​transgender ‌policies.

• Some rights groups have ​condemned moves ⁠by Trump and governors in Republican-led states, saying such actions in recent years have created an unsafe climate for the transgender community.

(Reporting by Kanishka Singh in Washington; Editing by ​Lincoln Feast.)

The ruling Communist Party ‌had called for the law’s enactment at a key conclave in 2024 and it has been lauded by state media as an item of “strategic importance”.

The legislation would help “prevent and punish cross-border corruption and deepen international anti-corruption cooperation,” state-run Xinhua news ‌agency ​said on Tuesday, citing an ongoing session of ⁠the National People’s Congress ⁠Standing Committee.

Draft laws typically undergo three separate readings by the top legislature, whose sessions are commonly held every two months, before being put to a vote. It would likely take at least several ​months before the bill becomes law.

Chinese President Xi Jinping has unleashed one of the most sweeping corruption crackdowns in modern Chinese history ⁠since coming to power in 2012. The ⁠campaign has ensnared senior party, government and military officials, ​and millions within China’s vast bureaucracy have been investigated to varying degrees.

Authorities have ​further said they are committed to tracking down and bringing ‌back those who have left the country.

Over 3,000 former Communist Party and government officials have been repatriated to China over alleged graft from some 120 countries since Beijing launched the so-called “Operation Sky Net” in 2015, ⁠according to official tallies, which said around $10 billion in illicit proceeds have been recovered in the process.

The national anti-graft watchdog also hosts on its website ⁠a “Red Notice” list ‌of the 100 most wanted suspected fugitive bureaucrats ⁠and state employees implicated in major corruption cases — the ​majority ‌of whom supposedly fled to the United States and ​Canada. Out ⁠of the 100, 62 have been brought back to China, authorities said last year.

Some foreign governments and human rights groups have, however, raised concerns that certain Chinese overseas fugitive recovery operations involved unauthorised surveillance, harassment and coercion while bypassing formal legal and extradition procedures.

(Reporting by Beijing Newsroom; Editing ​by Saad Sayeed)

The 26-year-old Ukrainian upset seventh-seeded Janice Tjen of Indonesia 6-4, 6-3 in the second round on Tuesday.

Starodubtseva ‌got ​to her first career ⁠WTA final in ⁠April, when she lost to Jessica Pegula for the title in Charleston, S.C. However, since winning her first-round ​match at Nottingham, England, in June, Starodubtseva had fallen in the ⁠opening round of ⁠five consecutive tournaments before beating ​Austria’s Lilli Tagger to open the ​Monterrey event.

On Tuesday, Starodubtseva finished with ‌a 5-0 edge in aces and converted four of her five break-point opportunities.

France’s Diane Parry also advanced to ⁠the quarterfinals, defeating Ukraine’s Oleksandra Oliynykova 6-4, 7-6 (3). One more second-round match was scheduled ⁠for Tuesday ‌night, with Taiwan’s En-Shuo ⁠Liang, a lucky loser from ​qualifying, ‌due to face the Czech ​Republic’s ⁠Nikola Bartunkova.

In first-round action, No. 8 seed Spaniard Cristina Bucsa, Hungary’s Panna Udvardy, Uzbekistan’s Maria Timofeeva and the Czech Republic’s Darja Vidmanova earned straight-set wins.

–Field ​Level Media

MELBOURNE, Aug 26 (Reuters) – Australia’s Yindjibarndi Indigenous group said on Wednesday it had lodged an appeal with the federal court over the amount of compensation awarded against Fortescue for mining on their lands without an agreement since 2012.

The ​Yindjibarndi people brought a native title claim against the miner and the Western ‌Australian state government for A$1 billion ($718 million) in cultural loss and in excess of A$800 million in economic loss, arguing it should be paid a share of the profits from the mine.

An Australian court in May ordered Fortescue, the world’s fourth biggest iron ore miner, to pay A$150 million in compensation to the group ‌for cultural ​losses caused by mining. It also awarded A$136,757 for economic ⁠losses, and A$217,152 in compound ⁠interest on the economic loss amount.

The decision marked one of the largest ever payouts in Australia’s history brought under native title laws recognising Indigenous rights and interests in certain parcels of land.

Australia is the world’s largest iron ore producer, most of which comes from ​Western Australia’s Pilbara region which is the traditional home of dozens of Indigenous groups. Miners have been updating their agreements with these groups since Rio Tinto destroyed two culturally significant rock ⁠shelters at Juukan Gorge in 2020 triggered a reckoning ⁠about cultural heritage damage and compensation.

YindjibarndiNgurra Aboriginal Corporation (YNAC) CEO Michael Woodley ​said YNAC’s appeal related to the amounts awarded by the Court for both economic and cultural ​loss.

The group argues the court should have tied its compensation to typical royalty ‌payments under Pilbara native title agreements. Instead, it assessed economic loss based on the value of the land, but disregarded any value for the iron ore deposits.

It also argues that it is entitled to compensation for social division in its community caused by the mine.

In its full judgment, ⁠the Federal Court found that significant damage had been done to Yindjibarndi song lines and other areas of cultural heritage, including 240 sites designated by FMG as heritage places, of which 124 ⁠had been completely destroyed. Song ‌lines are routes of cultural significance across the country.

The court noted ⁠that this damage was legal and approved through government processes, but ​without the ‌approval of YNAC, which holds exclusive native title rights over the ​land.

Fortescue has ⁠continued to mine on Yindjibarndi native title land since 2012 without an Indigenous Land Use Agreement or any other agreement with YNAC, the group said.

Fortescue had no immediate comment but has previously said it sought to reach settlement with YNAC for 15 years and has paid the awarded sum.

($1 = 1.3930 Australian dollars)

(Reporting by Melanie Burton in Melbourne and Renju Jose in Sydney; Editing by Jacqueline ​Wong and Lincoln Feast.)