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Oct 6 (Reuters) – France's former finance minister Bruno Le Maire is no longer an advisor at ASML, a spokesperson for the Dutch chip equipment maker told Reuters on Monday. Le Maire, who was poised to be part of the latest French government that collapsed just hours after being appointed on Sunday, had been named as a special advisor to ASML's executive board in 2024. (Reporting by Nathan Vifflin in Gdansk, editing by Milla Nissi-Prussak)

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NAIROBI, Oct 6 (Reuters) – Kenya is setting up a sovereign wealth fund and an infrastructure fund, President William Ruto said, to invest in key sectors without repeating a debt binge that has strained public finances in recent years. The East African nation has one of the highest debt repayments to revenue ratios on the continent, after it ramped up borrowing to construct infrastructure over the past decade. "We are in the process of having two important funds. One, infrastructure fund, and the other, which we are going to roll out, sovereign wealth fund," Ruto said over the weekend. Lawmakers have pushed through a law governing privatisation of state assets, he said, giving the government an opportunity to raise funds to set up the two vehicles. "As responsible citizens of the present, we must think about the generations of tomorrow and we must keep for them something, so that tomorrow, they have a place to start," he said. The privatisation drive will kick off with the sale of shares in Kenya Pipeline Company, a state firm that manages petroleum products' transportation infrastructure in Kenya and into neighbouring states. The share offer is expected to raise as much as 130 billion shillings ($1.01 billion), Ruto said. The infrastructure fund will be used to boost farming – the biggest economic sector in Kenya – especially to improve production of crops so some can be exported, Ruto said. Funds will also be used to increase electricity production, the president said, adding Kenya, which has a generation capacity of 2,300 megawatts of power, requires a minimum of 10,000 megawatts in new production in order to industrialize. "For far too long we have been on an average trajectory and that is why we are not making progress," he said. Ruto did not give details on when the funds would become operational. ($1 = 129.0000 Kenyan shillings) (Reporting by Duncan Miriri, editing by Karin Strohecker and Alexandra Hudson)

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Oct 6 (Reuters) – ARZAN INVESTMENT MANAGEMENT: * SECURES DEBT FINANCING FROM OAKTREE TO ACCELERATE GROWTH OF ITS HOSPITALITY PLATFORM * AIM- FUNDING WILL ENABLE TO ACCELERATE ITS STRATEGY OF ACQUIRING AND REPOSITIONING VALUE-ADD HOSPITALITY ASSETS ACROSS GCC

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* UBS expects bullion to reach $4,200/oz by year-end * Fed's Miran wants aggressive rate cuts * Silver hits over 14-year high (Updates for EMEA morning session) By Anmol Choubey Oct 6 (Reuters) – Gold prices touched an all-time high on Monday, soaring above $3,900-per-ounce level, as investors flocked to safe-haven bullion amid the U.S. government shutdown, broader economic uncertainty, and prospects of further Federal Reserve rate cuts. Spot gold was up 1.2% at $3,932.40 per ounce, as of 0730 GMT, after hitting $3,944 earlier in the session. U.S. gold futures for December delivery climbed 1.2% to $3,956.50. Washington will start mass layoffs of federal workers if U.S. President Donald Trump decides negotiations with congressional Democrats to end a partial government shutdown are "absolutely going nowhere," a senior White House official said on Sunday. "There are concerns that (the U.S. government shutdown) could become protracted with a negative impact on U.S. growth," said independent analyst Ross Norman, adding that a pervading sense of caution in financial markets helping gold. Gold has climbed nearly 50% so far this year, underpinned by strong central bank buying, increased demand for gold-backed exchange-traded funds, a weaker dollar and growing interest from retail investors seeking a hedge amid rising trade and geopolitical tensions. This rally, characterised by low participation and primarily driven by central banks with a long-term outlook and steady investors rather than speculative buyers, indicates that any pullback might be milder than expected, Norman said, adding that this could present a buying opportunity on dips while the rally maintains its momentum. Fed Governor Stephen Miran pressed for an aggressive rate-cut trajectory again on Friday, citing the impact of Trump administration's economic policies. Alternative data from both public and private sources indicate signs of weakness in the U.S. labor market amid the government shutdown. Investors are now pricing in a 25-basis-point cut at the Fed meeting this month, with an additional 25 bp cut anticipated in December. "We see both fundamental and momentum-based reasons for gold to rally further, and now expect bullion to reach $4,200/oz by the end of this year," UBS said in a note. Non-yielding gold thrives in a low-interest-rate environment and during economic uncertainties. Spot gold broke the $3,000-per-ounce level for the first time in March. Many brokerages have turned bullish on the rally. Spot silver climbed 1.5% to $48.67 per ounce, hitting its highest level in more than 14 years. Platinum rose 0.7% to $1,616 and palladium gained 1.2% to $1,276.10. (Reporting by Anmol Choubey in Bengaluru; Editing by Sherry Jacob-Phillips)

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PRAGUE, Oct 6 (Reuters) – The Czech Republic is likely to start 2026 on a provisional budget, according to a senior official from the opposition ANO party that won a parliamentary election at the weekend. The outgoing centre-right government submitted a 2026 central state budget plan targeting a deficit of 286 billion crowns ($13.81 billion), up from 241 billion seen in the 2025 budget. Prime Minister Petr Fiala's government has cut the overall fiscal gap below the European Union limit of 3% of gross domestic product and expects a 1.9% deficit this year. But the ruling parties lost the election to the populist party of former Prime Minister Andrej Babis, who has promised lavish spending to lift wages, cut taxes and kick-start economic growth. That would upend the central European country's frugal mindset that made it a fiscal standout recently. "Everything will depend on the formation of a new government, which is now the number one priority," ANO official Alena Schillerova, who was finance minister in a previous Babis-led government, was quoted as telling CTK news agency on Sunday. "Avoiding an interim budget regime, even given the low quality of the budget of the outgoing minister, is very unlikely." ANO, which won 80 of the 200 seats in the lower house, is seeking partners to secure a majority and talks are expected to last weeks or months, leaving little time to resubmit and approve a new 2026 budget plan. A provisional budget will limit discretionary spending at the previous year's level until lawmakers approve a new budget. ($1 = 20.7090 Czech crowns) (Reporting by Jason Hovet; editing by Mark Heinrich)

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(.) * Peso weakens 0.6% * Indonesian rupiah loses 0.4% * Investors await BSP and BOT meetings ahead By Rishav Chatterjee Oct 6 (Reuters) – Philippine equities dropped more than 1% and the peso weakened against the U.S. dollar on Monday, as investors stayed away from the archipelago over concerns tied to a corruption scandal and persistent social unrest. The MSCI Emerging Asia Index and a broader MSCI Asia-Pacific ex-Japan Index both eased about 0.5%, retreating from their highest levels since 2021 hit in the previous session. Trading volumes in emerging Asia equities stood well below the 30-day average as market closures in China, Taiwan, and South Korea affected momentum, with the latter two heavyweights being the major beneficiaries of the recent AI-driven rally. In the Philippines, the equity benchmark gauge dropped as much as 1.8%, snapping a three-day winning streak. The index lost 3.3% over the past month amid widespread protests pertaining to a widening corruption scandal. The Philippine president appointed a former Supreme Court justice in mid-September to head a new commission which will investigate alleged corruption in infrastructure projects, focusing on flawed flood control facilities exposed after monsoon rains and storms flooded towns and cities. "The market (Philippines) continues to be out of favour despite the recent sell off and unlikely to see improvement in the near term in my view," said Rajat Agarwal, Asia equity strategist at Societe Generale. Its currency, the peso, weakened 0.6% against the dollar on Monday, after having fallen over 2% in September. Investors are now focused on the Bangko Sentral ng Pilipinas (BSP) policy decision later this week. Maybank and DBS expect the central bank to hold rates steady, while Standard Chartered forecasts another cut. It is a tough call between a dovish hold or a hawkish cut, Aris Dacanay, an economist with HSBC, said, adding that the bank expects the BSP to hold its policy rate at 5.00%. Jakarta stocks were trading just below their all-time high scaled in early trade. The index was on track to end the session at a record closing level, as of 0706 GMT. Bangkok’s SET Index slipped 0.4%. In currency markets, the peso and Indonesian rupiah led declines in emerging Asia. The Singapore dollar eased 0.3%, while the Malaysian ringgit and Thai baht edged lower. Most ASEAN currencies, including the peso and rupiah, are under pressure, tracking weaker local equities and recent foreign outflows, said Christopher Wong, a currency strategist with OCBC. The Bank of Thailand meets later this week. Policymakers are widely expected to cut rates by 25 basis points, according to a Reuters poll, amid months of negative inflation, tepid exports, and a dovish tilt under the new governor. The baht, one of Asia’s best-performing currencies this year, had gained over 5% year-to-date by September before easing slightly in recent sessions. In other news, investor attention turned squarely to Japan, where the yen JPY= tumbled and stocks surged more than 4% after fiscal and monetary dove Sanae Takaichi was elected leader of the ruling party. HIGHLIGHTS: ** Indonesian 10-year benchmark flat at 6.327% ** Thai Sept headline CPI drops 0.72% y/y, more than forecast Asia stock indexes and currencies at 0706 GMT COUNTRY FX RIC FX DAILY FX YTD % INDEX STOCKS STOCKS % DAILY YTD % % Japan -1.71 +4.79 4.75 21.97 China India +0.01 -3.55 0.46 5.76 Indonesi -0.45 -3.10 0.30 15.01 a Malaysia -0.17 +6.05 0.03 -0.41 Philippi -0.55 -0.23 -1.78 -8.09 nes S.Korea Singapor -0.31 +5.62 0.12 16.62 e Taiwan — +7.77 — 16.18 Thailand -0.02 +5.97 -0.36 -7.94 (Reporting by Rishav Chatterjee in Bengaluru Editing by Shri Navaratnam and Mrigank Dhaniwala)

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(Updates with share move, previous forecast in paragraphs 1,6,8) By Gianluca Lo Nostro Oct 6 (Reuters) – Shares of Tefal pan manufacturer SEB plunged more than 22% on Monday after it cut its annual profit and sales forecast, saying business has been slower than expected in Europe and a "wait and see" attitude among U.S. consumers and business clients has significantly impacted the company. SEB, which also makes Rowenta irons and Krups coffee machines, slashed its annual operating profit forecast to between 550 million euros and 600 million euros ($702.90 million), from 700 million to 750 million euros ($878.63 million) previously. Consumers in the euro zone have reduced their spending on non-essentials, according to a European Central Bank survey published in September. Consumer confidence in France has also dropped to its lowest level in nearly two years. SEB said sales growth in 2025 will be stable to slightly positive, having previously forecast growth of between 2% and 4%. Better sales in Asia and South America and successful recent product launches are not sufficient to offset the negative trends in Europe and the U.S., the company said in a statement. Western Europe accounted for 35% of SEB's consumer sales in 2024. SEB's shares were down 22.7% in early Paris trading. The stock gained during the pandemic as lockdowns drove a surge in home cooking but has since fallen back. It has lost around 25% of its value since the start of this year. The French group expects a "slight" decline in third-quarter sales, set to be reported on October 23. The company had already lowered its annual sales growth forecast in July, but said at the time that it expected a rebound in the second half of the year despite U.S. tariffs on imports creating uncertainty over consumer demand. ($1 = 0.8536 euros) (Reporting by Gianluca Lo Nostro; Editing by Helen Reid)

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Oct 6 (Reuters) – Mandom Corp: * MURAKAMI-RELATED INVESTORS RAISE STAKE IN MANDOM TO 16.59% FROM 15%, REGULATORY FILING SHOWS Source text: Further company coverage:

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RUSSIA'S MEDVEDEV TO VISIT NORTH KOREA THIS WEEK – RIA

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Oct 6 (Reuters) – Islandsbanki hf: * BOD OF ISLANDSBANKI, SKAGI HAVE APPROVED INITIATION OF MERGER DISCUSSIONS BETWEEN TWO COS * SKAGI'S OPERATIONS TO BE MERGED WITH ISLANDSBANKI * SKAGI SHAREHOLDERS TO GET 323.9 MLN NEW SHARES IN ISLANDSBANKI IN EXCHANGE FOR SKAGI SHARES, CORRESPONDING TO AROUND 15% OF ISSUED SHARE CAPITAL IN MERGED ENTITY Source text for Workspace: Further company coverage: (Gdansk Newsroom)

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