The State Administration for Market Regulation released a list of cases in which business operator concentration was unconditionally approved between October 27 and November 2, 2025.

Novo Nordisk (NVO.N): Novo Nordisk India has reduced the price of WEGOVY by 37% to benefit patients, now costing only 2,712 Indian Rupees per week.

Energy: 1. The Trump administration plans to open California's coast to oil drilling for the first time in decades. 2. IEA: Under current policy scenarios, it believes oil demand will not peak before 2050. 3. Germany's Ministry of Economic Affairs has asked SEFE (Secure Energy Europe) to terminate its long-term gas import agreement with Russia. 4. According to sources and data, despite the latest sanctions, Russian oil exports have remained stable so far in November. 5. Commerzbank: It expects Brent crude to trade at $60 per barrel and WTI crude at $57 per barrel in 2026. 6. Sources: Saudi Arabia and Iraq have allocated their entire December crude oil supply to Indian refiners and are also supplying them with more oil under optional contracts. Precious Metals and Mining: 1. UBS: It expects global gold demand to reach its highest level since 2011 this year and next. 2. Stablecoin giant Tether poached a core team from HSBC Precious Metals, increasing its gold reserves to challenge existing players in the gold and silver markets. 3. AngloGold: Group gold production in the third quarter increased by 17% year-on-year to 768,000 ounces, with an average selling price of $3,490 per ounce. 4. Commerzbank: Expects gold prices to reach $4,200 per ounce over the next year. It raised its aluminum price forecast to $2,900 per ton (previously $2,600) and its zinc price forecast to $3,000 per ton (previously $2,800). 5. Citigroup: Expects copper prices to fluctuate around $11,000 per ton for the remainder of the year. It continues to expect copper prices to climb to an average of $12,000 per ton by the second quarter of 2026 (or $14,000 per ton in a bullish scenario). Other: 1. US President Trump: We will reduce some coffee tariffs. 2. Vietnamese Deputy Prime Minister: A trade agreement with the US is expected to be signed soon. 3. Brazil’s National Association of Grain Exporters (ANEC): Brazil’s soybean exports are expected to reach 4.26 million tons in November.