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SEBI Chairman Sees 2,000 More Companies Listing in Next Two Years as Fundraising Hits ₹3.15 Lakh Crore

• SEBI Chairman Tuhin Kanta Pandey said India could see another 2,000 companies enter the capital market over the next couple of years, as more businesses turn to equity financing.
• He said several promising mid-sized companies across different regions and industrial clusters need guidance to strengthen financial reporting, accounting practices and corporate governance before going public.
• Between April and September 30, 2026, 189 companies raised ₹98,038 crore through main-board and SME listings, compared with 186 companies raising ₹71,085 crore during the same period last year.
• Including preferential issues and qualified institutional placements (QIPs), 914 companies raised ₹3.15 lakh crore from the capital market so far this fiscal year.
• The momentum continued with the Jio Platforms IPO, which raised a record ₹30,213 crore.
• Pandey said SEBI has urged industry bodies such as CII and FICCI to help promising businesses prepare for public listings. India currently has around 5,300 companies listed on the BSE.
• In West Bengal, the securities market investor base has grown to more than 90 lakh from around 12 lakh in FY15, with nearly 36% of investors below 30 years of age. The state has 379 listed companies, while over 40 SMEs have raised more than ₹1,400 crore through SME IPOs.

SEBI Plans to Delist Companies With No Economic Activity; AI Tools to Track Pump-and-Dump Operators bigbreakingwire.in

SEBI Plans to Delist Companies With No Economic Activity; AI Tools to Track Pump-and-Dump Operators

• SEBI is working towards removing listed companies with no economic activity from stock exchanges, Chairman Tuhin Kanta Pandey said.
• Pandey warned that such companies pose risks to investors and their continued listing could expose retail investors to fraudulent activities.
• He said these stocks are often used by market manipulators for pump-and-dump operations, including through social media groups.
• SEBI is deploying artificial intelligence (AI) tools to track suspicious accounts and strengthen surveillance to protect retail investors.
• On the SME listing platform, Pandey said SEBI has proposed several changes through a consultation paper to improve the regulatory framework, while acknowledging concerns involving some older companies.
• SEBI will also issue another consultation paper in the coming weeks proposing relaxations in certain FPI regulations, particularly disclosure requirements and concentration limits.

IMD Warns of Below-Normal November Rainfall and Above-Normal Temperatures; Cyclone Threat Near Andhra Pradesh

• The India Meteorological Department (IMD) has forecast above-normal maximum temperatures and rainfall below 77% of the long-period average across most parts of India in November.
• The weather office attributed the outlook to very strong El Niño conditions, which are expected to peak this month.
• The forecast follows a nearly 13% rainfall deficit during the 2026 southwest monsoon.
• The northeast monsoon over the southern peninsula is also expected to remain weak.
• Despite the largely dry outlook, a developing weather system over the Bay of Bengal could intensify into Cyclone Murasu and approach the Andhra Pradesh coast around November 3, according to the IMD.

UPI Hits Record 25.47 Billion Transactions Worth ₹31.53 Lakh Crore in October

• India's Unified Payments Interface (UPI) processed a record 25.47 billion transactions worth ₹31.53 lakh crore in October, according to NPCI data.
• Average daily transaction value reached ₹1,01,707 crore.
• Transaction volumes surpassed the previous record of 24.51 billion set in August, supported by festive spending and October having 31 days.
• The record comes as NPCI postponed its proposed 0.4% Merchant Discount Rate (MDR) on merchant payments above ₹2,000 until after Diwali, following industry opposition.

Yorkville Ives Says Tech Stocks Are Not Overvalued; AI Investment Returns Could Become Clearer in 2027

• Research firm Yorkville Ives urged investors not to panic over recent weakness in technology stocks, saying market volatility can trigger indiscriminate selling of previous outperformers.
• The firm said recent earnings results from major hyperscale cloud providers reinforce the investment case for enterprise AI infrastructure and continued capital expenditure.
• Yorkville Ives believes overall technology sector valuations are not elevated and sees strong growth potential over the next few years.
• The firm expects returns from AI investments to become clearer in 2027, potentially providing stronger evidence to justify the massive infrastructure spending by technology companies.
• Analysts said investors may need patience as the financial benefits of current AI investments take time to materialise.

South Korea's October Exports Surge 93.7%; Semiconductor Shipments Jump 259% to $56.4 Billion

• South Korea's exports surged 93.7% year-on-year in October, while working-day-adjusted exports rose 76.1% to $115.3 billion, according to the Ministry of Trade, Industry and Energy.
• Adjusted exports were below September's record $121.1 billion, while September's annual export growth was revised upwards to 83.7%.
• Imports increased 36%, resulting in a trade surplus of $42.5 billion.
• Semiconductor exports jumped 259% year-on-year to $56.4 billion, driven by strong global demand for AI-related chips.
• Computer exports surged 497%, while petroleum product exports rose 80% and automobile exports increased 18%.
• Strong export performance has strengthened market expectations of a Bank of Korea interest rate hike this month.

North Korea Tests Tactical Ballistic Missile Warhead Capable of Destroying 12–13 Hectares

• North Korea conducted a destructive-power assessment test of a tactical ballistic missile's dispersal warhead on October 31, according to state media KCNA.
• The North Korean Missile General Bureau said the test evaluated the destructive capability of a standard Type-2 dispersal warhead.
• Results from the country's Ballistic Missile Systems Research Institute and Warhead Research Institute reportedly showed that the warhead could level an area of approximately 12–13 hectares.
• North Korea described the test as part of routine research and development aimed at increasing the missile system's destructive power.

Marco Rubio Accuses Iran of Attacking Commercial Ships, Says Diplomatic Talks Remain Ongoing

• US Secretary of State Marco Rubio accused Iran of attacking commercial vessels, including ships carrying Indian sailors and energy supplies destined for multiple countries.
• Rubio said Iran's threats and attacks on commercial shipping affect all countries and create wider risks for global trade and energy security.
• He said discussions between Washington and Tehran have never stopped, with communication taking place directly as well as through intermediaries.
• Rubio said President Donald Trump prefers a diplomatic and peaceful resolution but acknowledged that some international conflicts may not be resolved through diplomacy.
• He accused Iran of supporting Hezbollah in Lebanon, the Houthis in Yemen and Iran-backed militias in Iraq, alleging that Tehran is contributing to instability across the Middle East.
• Rubio also accused Iran of seeking nuclear weapons and warned that the US would not allow Tehran to acquire weapons of mass destruction under Trump's presidency.

FBI Blames North Korea's TraderTraitor for $6.3 Billion Binance Hack; Exchange Says 90% of Funds Replenished

• The FBI said North Korea-linked hacking group TraderTraitor was responsible for the October 29 attack on Binance, which resulted in approximately $6.3 billion in stolen assets.
• Investigators said the hackers drained an internet-connected wallet in around 20 minutes and are converting the stolen assets primarily into Ethereum.
• Binance said it has replenished approximately 90% of the stolen funds using company resources and plans to resume withdrawals on Sunday.
• Tether and Circle have frozen more than $2.3 billion worth of assets linked to the attack, according to Reuters.
• The FBI's attribution has raised concerns that proceeds from the theft could support North Korea's weapons programmes.
• The incident has prompted other crypto exchanges to review security measures. Coinbase adjusted its offline key-storage systems, Kraken examined previous industry incidents, and OKX's CEO called for a real-time industry alert system to help exchanges freeze stolen funds faster.
• CFTC Chairman Michael Selig said the hack reinforced his concerns about crypto regulation, while US Representative Maxine Waters described it as a wake-up call for the industry.

Big Seven Tech Earnings Growth Set to Trail Rest of S&P 500 for First Time Since Q4 2022

• The combined earnings per share (EPS) growth forecast for the Big Seven technology companies has fallen to 22.6% from 33.6% a month ago, according to market analyst John Butters.
• In comparison, the remaining 493 companies in the S&P 500 are expected to report combined EPS growth of 32.6%.
• Five of the Big Seven companies have already reported or are expected to report third-quarter EPS growth below the broader S&P 500, while Nvidia and Apple are yet to announce their latest results.
• If current estimates hold, the Big Seven's earnings growth will trail the rest of the index for the first time since the fourth quarter of 2022.
• Analysts expect this trend to continue into the fourth quarter.

Fitch Warns of Emerging Market Financing Risks; Forecasts Growth to Slow to 3.3% in 2027

• Fitch Ratings said emerging market issuers demonstrated resilience in the third quarter but could face financing pressures if the US Federal Reserve adopts a more hawkish stance and developed-market government bond yields rise.
• The rating agency expects financing conditions across most emerging markets to become more accommodative in 2027 as global inflation eases and pressure on central banks declines.
• However, Fitch warned that its economic forecasts face significant downside risks.
• Fitch projects emerging market economies, excluding China, to grow by 3.3% in 2027, below its upwardly revised 3.6% forecast for 2026.

Trump Says US Is in No Hurry for Iran Talks; Warns Pickaxe Mountain Can Be Targeted Within 10 Minutes

• US President Donald Trump said Washington is in no rush to advance Qatar-mediated negotiations with Iran, claiming US forces have already destroyed much of Iran’s military capabilities, including its navy, air force and air-defence systems.
• Trump also claimed that US strikes had severely damaged Iran’s military manufacturing capabilities and nuclear facilities, although one or two remaining sites still need to be addressed.
• Referring to Pickaxe Mountain, a suspected underground nuclear-related site, Trump said the US has a plan to deal with it and could resolve the issue within 10 minutes.
• Asked whether the US would resume military action against Iran this week, Trump declined to give a direct answer, telling a New York Times reporter: “Even if I did, would I tell you?”

Germany Proposes AI Tax That Could Target US Technology Companies

• German Education and Family Affairs Minister Karin Prien has proposed imposing a new tax on the value generated by artificial intelligence.
• The proposed tax could affect US companies providing AI services to German customers, as well as American firms conducting AI-related business activities in Germany.
• According to Stanford University's AI Index 2026, US private-sector investment in AI reached $285.9 billion in 2025, compared with just $20.9 billion across Europe.
• The tax could reduce returns for US AI service providers or increase the cost of delivering services to German customers.
• Critics could also argue that such a tax may penalise businesses adopting AI technologies to improve productivity.
• No concrete implementation plan has been announced, and the proposed tax's rate, scope and structure remain undecided.

US Warns Russia of Possible Terrorist Attack in Moscow; FSB Says It Is Taking Precautionary Measures

• Russia’s Federal Security Service (FSB) said it received information from the United States about preparations for a possible terrorist attack in Moscow through established intelligence cooperation channels.
• The FSB said it is taking appropriate measures in response to the warning, according to RIA Novosti.
• Separately, the US Embassy in Moscow said it had received information about a credible threat of a mass-casualty incident at the Tsaritsyno Museum Reserve on Saturday.
• The US government is coordinating its response with relevant Russian authorities, the embassy said.

Binance Plans Phased Withdrawals on Sunday; Bitcoin ETFs See $643 Million Outflows; Coinbase and Kraken Tighten Security After $6.3 Billion Crypto Heist

• Binance plans to begin restoring withdrawals in phases on Sunday, November 1, subject to the completion of security checks, following a proof-of-reserves snapshot.
• The exchange confirmed a complex attack involving approximately $6.3 billion in stolen assets, described as the largest crypto theft on record.
• Blockchain analysts have linked the attack to North Korea’s TraderTraitor unit, which reportedly drained wallets across 10 blockchains in around 20 minutes.
• Binance co-CEOs Yi He and Richard Teng said approximately 80% of the stolen assets had been replenished as of October 31. Circle and Tether have also frozen portions of the stolen funds.
• The breach triggered wider market pressure, with Bitcoin falling to a six-week low and more than $1.6 billion in leveraged positions liquidated.
• US spot Bitcoin ETFs recorded $643 million in net outflows on Friday, their biggest single-day withdrawal since June, led by BlackRock’s iShares Bitcoin Trust.
• Rival exchanges are reviewing their security measures. Coinbase adjusted its offline key storage as a precaution, while Kraken said it is studying recent industry incidents.

SEBI Monitoring Tata Sons Developments Ahead of November 26 Board Meeting

• SEBI Chairman Tuhin Kanta Pandey said the regulator is monitoring developments at unlisted Tata Sons, while listed Tata Group companies remain subject to the Listing Obligations and Disclosure Requirements (LODR) norms.
• The September 17 Tata Sons board meeting reportedly backed N. Chandrasekaran’s reappointment as chairman and a potential listing of the holding company, with Noel Tata opposing both proposals, according to The Economic Times.
• Noel Tata reportedly wants the November 26 board meeting to consider restructuring options aimed at avoiding a stock market listing.
• The meeting is also expected to take up the Shapoorji Pallonji Group’s proposed ₹25,000 crore partial exit from its investment in Tata Sons.

Iran Reviews Vance's Proposals as Tehran Seeks Ceasefire Guarantees; Trump Weighs Military Options

• Iran is reviewing proposals outlined in a letter from US Vice President JD Vance, according to sources cited by Al Arabiya on October 31. The letter reportedly sets out broad principles and a framework for negotiations rather than a complete agreement.
• Iranian Foreign Minister Abbas Araghchi described the letter as a constructive step but said Tehran has no current plans to meet US officials. He warned that any attempt to create divisions within Iran would be a mistake.
• Iran is discussing US proposals concerning its nuclear programme and seeking guarantees of a permanent, comprehensive end to hostilities in exchange for reopening the Strait of Hormuz.
• Tehran insists on a full ceasefire before negotiations begin. Araghchi said no meeting date has been set and that Iran will decide between direct or indirect negotiations if Washington accepts its conditions.
• Iranian and Qatari representatives are continuing discussions in Doha, with mediators working to bridge differences between the two sides.
• Separately, Iran's military leadership said its forces are prepared to respond to US and Israeli threats without geographical limits and have prepared an expanded list of potential targets.
• Axios reported that a US official believes a major Republican defeat in the midterm elections could make President Donald Trump more inclined to order large-scale military action against Iran. A White House official, however, said the election results would not influence Trump's decisions on Iran.

Iran Sends Delegation to Qatar for Talks; Demands Sanctions Relief, Asset Unfreeze and Changes to Hormuz Shipping Routes

• An Iranian delegation travelled to Doha to continue discussions with Qatar, with reports indicating that it will not hold direct negotiations with the United States during this visit.
• The visit follows more than 12 hours of talks between Qatari mediators and Iranian representatives in Tehran. Qatar is continuing its mediation efforts and remains in contact with the White House.
• Iran’s Foreign Minister said Tehran is seeking an end to the war on all fronts, including Lebanon, along with the lifting of sanctions imposed after the Islamabad Memorandum.
• Iran is also demanding a reduction in US military presence in the region, restoration of oil sanctions waivers and the unfreezing of all Iranian assets, including funds held in Qatar.
• On the Strait of Hormuz, Iran wants recognition of newly demarcated shipping lanes agreed with Oman and closure of the remaining routes. The Foreign Minister said Iran’s proposal is currently the only one on the table.
• Qatar has reportedly proposed reducing the implementation period of Iran’s proposal to five days.
• The US and Iran have yet to agree on resuming direct negotiations, and the arrival date of a US delegation in Doha remains undecided.

Binance Hack: $6.3 Billion Crypto Theft Triggers Insurance Concerns; $2.4 Billion Frozen

• Binance co-CEO Richard Teng said investigators discovered additional points of breach beyond the initially identified compromised engineer’s laptop. Hackers reportedly used self-destructing tools, according to the BBC.
• The October 29 attack reportedly drained approximately $6.3 billion across 10 blockchains in around 20 minutes, making it one of the largest crypto thefts on record.
• Blockchain intelligence firm TRM Labs attributed the attack to North Korea’s TraderTraitor unit.
• Tether and Circle have frozen nearly $2.4 billion combined, while Binance says approximately $3 billion of the stolen funds has been frozen.
• Withdrawals remain paused. Teng has promised a proof-of-reserves report by Monday, while Binance has pledged to use company funds to cover user losses.
• The incident has raised concerns about crypto insurance coverage. Standard crime policies generally cover physical property, while conventional cyber policies may exclude digital-asset fund transfers unless specific coverage is added.
• Bermuda-based Relm Insurance described the incident as an inflection point that could accelerate demand for specialised crypto insurance.

Iran's Supreme Leader Mujtaba Khamenei Orders Immediate Retaliation to Any Enemy Threat

• Iran’s Supreme Leader Mujtaba Khamenei has instructed senior military commanders to maintain high alert and respond swiftly and forcefully to any potential enemy threat, without geographical limitations.
• According to Iran’s Tasnim News Agency, he ordered the armed forces to maximise deterrence and ensure that any further military or terrorist attacks receive an immediate and effective response.
• Khamenei warned that if adversaries launch further attacks, Iran’s armed forces and people will determine the timing and conditions for ending the conflict.
• He directed the military to expand intelligence capabilities, strengthen domestic defence development, update military doctrines and accelerate the adoption of new technologies.
• He also called for stronger morale and logistical support, alongside an updated target list covering the tangible and intangible assets of US and Israeli forces within Iran’s strike range.

Iran Warns of More Devastating Retaliation if War Resumes; Germany Urges Diplomatic Resolution

• Iran’s Supreme National Security Council Secretary Rezaei warned that any renewed conflict would trigger a stronger and more destructive Iranian response against the United States and Israel.
• He claimed Iran’s missile capabilities have improved, with greater speed and destructive power, as well as enhanced ability to penetrate enemy air-defence systems.
• Rezaei said Iran’s defensive and offensive capabilities are now more advanced and that its adversaries would face greater losses in any future confrontation.
• German Chancellor Friedrich Merz said on October 30 that Germany is coordinating through multiple channels to intensify diplomatic efforts to end the US-Israel-Iran conflict.
• Merz said the conflict has pushed up energy prices, costing Europe more than €100 billion over the past eight months.
• He urged all parties to pursue a diplomatic solution, saying the conflict should end quickly on economic grounds.

Trump Administration Reportedly Briefs Gulf Allies on Possible November 4 Strikes Against Iran bigbreakingwire.in

Sam Altman Meets Samsung Executives to Deepen AI Cooperation Amid Global Memory Chip Shortage

• OpenAI CEO Sam Altman met Samsung Group executives in Yongin, South Korea, on Saturday to discuss expanding cooperation in memory chips and AI infrastructure.
• Samsung hosted a meeting with around 50 executives from Samsung Electronics, finance, biotechnology and other business units, focusing on AI-driven industry transformation and business opportunities over the next decade.
• The discussions build on an existing agreement under which Samsung will supply memory chips for OpenAI’s Stargate infrastructure project and collaborate on AI data centres, including proposed floating data centres.
• Speaking on the Cheeky Pint podcast, Altman criticised the allocation of DRAM in personal computers, saying much of it remains unused while data centres could utilise memory more intensively.
• He also argued that memory manufacturers are reluctant to expand production despite the potential profits, describing the situation as a failure of market incentives.
• His remarks drew criticism from commentators who argue that OpenAI’s massive AI infrastructure demand is contributing to the global memory shortage. Some users also favour local AI systems for greater privacy and to avoid recurring subscription costs.

Kotak Raises FY27 Crude Oil Assumption to $100; BlackRock Sees Scope to Turn More Positive on India

• Kotak Institutional Equities raised its FY27 crude oil price assumption to $100 per barrel from $90, citing prolonged West Asia supply disruptions and renewed attacks on Saudi infrastructure and oil tankers.
• This is Kotak’s second upward revision in about four weeks, following its October 2 increase to $90. Dated Brent averaged $126 per barrel in October, according to BusinessLine.
• Kotak maintained Buy on ONGC, with its target implying around 57% upside, and Sell on Oil India, implying approximately 20% downside.
• BlackRock Investment Institute’s Ben Powell said the firm is poised to turn tactically constructive on Indian equities but wants clearer evidence on corporate earnings, oil prices and foreign investor flows.
• The Sensex and Nifty 50 have declined in 2026, while foreign investors have sold ₹4.55 lakh crore worth of Indian equities.
• Powell highlighted elevated crude prices as a key risk for India, a major energy importer. His latest comments mark a shift from July, when he said India's valuation premium had disappeared.

• India's central government fiscal deficit stood at ₹7.14 lakh crore during April–September, equivalent to 42.1% of the FY27 Budget Estimate, according to Controller General of Accounts (CGA) data.
• The deficit had reached 36.5% of the annual target during the corresponding period last year.
• Net tax revenue grew just 3.8%, partly due to lower excise collections following cuts in petrol and diesel duties.
• Urea subsidy expenditure crossed 73% of its full-year budget allocation, adding pressure to government finances.
• ICRA Chief Economist Aditi Nayar estimates that the government could face fiscal slippage of ₹1.3–1.4 lakh crore against its budget target.
• Government capital expenditure growth also slowed, with Q2 growth reportedly tapering to 2.8%.

• London-based hedge fund Arini Capital Management has reportedly sold approximately $800 million in debt assets in recent weeks, partly to meet margin calls from banks, according to The Wall Street Journal.
• Its flagship fund has declined around 26% this year, hit by distressed investments in Altice International, Brightspeed and Aston Martin.
• Bloomberg reported that major investment firms Pimco and Oaktree have submitted bids for some of Arini's holdings.
• The asset sales highlight growing liquidity pressures as lenders seek additional collateral against the fund's positions.
• Arini has maintained that paper losses on its investments do not necessarily indicate that the underlying investments have deteriorated.

• OpenAI has reportedly reduced its latest fundraising target from $30 billion to approximately $20 billion, while lowering its proposed valuation from $1.4 trillion to $1.25 trillion, according to the Financial Times.
• The ChatGPT developer had initially planned to raise $30 billion at a $1.4 trillion valuation, presenting the round as an opportunity for investors to participate before a potential IPO next year.
• OpenAI had justified its higher valuation by pointing to rapid revenue growth since July, with its valuation nearly doubling from the previous $852 billion.
• However, the sell-off in publicly traded AI stocks and growing concerns over the scale of AI infrastructure spending have reportedly weakened investor appetite.
• Sources familiar with the matter said some investors have reduced their proposed commitments, meaning the first closing of the funding round could raise less than $20 billion.
• OpenAI had set the previous Friday as the deadline for investor subscriptions and is now working to finalise the fundraising.

• Apple closed Friday with a market capitalisation of $5.03 trillion, surpassing Nvidia's $4.93 trillion to reclaim the title of the world's most valuable publicly traded company.
• This marks the first time Apple has overtaken Nvidia since the end of July.
• Apple's shares fell 1.2% on Friday, compared with a 4.2% decline in Nvidia.
• Concerns over returns on massive AI infrastructure investments have intensified following disappointing market reactions to earnings from Intel and Amazon, while Alphabet and Meta have also faced selling pressure.
• Apple's relatively restrained AI infrastructure spending and strong free cash flow have helped its shares demonstrate greater resilience during the technology-sector correction.
• Apple shares have gained approximately 27% year-to-date, while Nvidia has declined more than 10% over the past month.

• Microsoft, Alphabet, Amazon, Meta and Oracle returned just 9.3% of operating cash flow to shareholders this year, down sharply from 27.4%, according to Reuters analysis.
• Combined capital expenditure by the five technology giants doubled to $556.9 billion, exceeding their record operating cash flow.
• The surge in AI infrastructure investments resulted in a combined $14 billion free cash flow deficit, with capital spending outpacing operating cash flow for the first time since 2011.
• Share buybacks plunged 83%, reflecting the growing priority given to data centres, AI chips and computing infrastructure over shareholder returns.
• Despite mounting cash-flow pressures and the technology sell-off, Amazon and Meta continue to plan heavier AI-related spending.

• Anthropic's IPO filing has disclosed nearly $900 billion in future financial commitments related to servers, data-centre construction, electricity and computing infrastructure.
• These obligations include future lease and purchase agreements covering data centres, GPUs and power supply, and are detailed in the notes to its financial statements rather than appearing as conventional balance-sheet debt.
• The commitments highlight the enormous capital requirements involved in expanding Anthropic's AI infrastructure and supporting its growing computing needs.
• David Trainer, CEO of investment research firm New Constructs, described the commitments as massive, warning that the company must invest heavily in AI training, inference and energy.
• The disclosures raise questions about long-term infrastructure costs, financing requirements and the financial risks associated with the AI expansion race.

• Turkish Foreign Minister Hakan Fidan met US Secretary of State Marco Rubio on the sidelines of the G20 foreign ministers' meeting in Atlanta to discuss developments in ongoing US-Iran negotiations.
• The two officials also discussed bilateral relations, the situation in Gaza, the Russia-Ukraine war and other regional issues.
• Meanwhile, Iranian state-linked Tasnim News Agency accused Axios journalist Barak Ravid of conducting a media-driven psychological campaign against Iran by reporting on ongoing negotiations and the possibility of renewed US military action.
• Tasnim claimed reports about disagreements over Iran's nuclear programme and the US naval blockade were intended to increase pressure on Tehran.
• Iranian officials reportedly disputed the account that nuclear concessions were central to the current round of indirect negotiations, claiming the nuclear issue was not on the agenda.
• The competing accounts highlight continuing uncertainty over the scope of negotiations and the conditions Washington and Tehran are setting for renewed dialogue.