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Malaysia's Khazanah will direct more capital towards power grids and chip firms, says the chief of Malaysia's Khazanah in Davos
Malaysia's sovereign fund Khazanah Nasional Bhd plans to channel additional capital into strengthening the?power?system and supporting local semiconductor companies as AI drives next investment cycle. Khazanah's Managing Director Amirul Feisal Wan Zahir stated in an interview during the World Economic Forum annual meeting in Davos that energy supply and grid reliability were central to competitiveness. "What is needed for it to work well, is computing power. And what does computing power mean? Energy. Amirul Feisal said at the Global Markets Forum that this is when we should think about how to capture some of this growth. Khazanah will instead concentrate on infrastructure, while global investors pour money into data centers. He said that the AI infrastructure would be able to scale up only if it had cheap, reliable, and renewable power. SEMICONDUCTORS, not DATA CENTRES Amirul Feisal, Amirul's partner in the firm, said that the company was "looking at how we can fund some of the capital needs of our semiconductor players so they can move up the value-chain to advanced packaging". Malaysia has developed industrial policies to strengthen its position in the global chip supply chains. Anwar Ibrahim, the Prime Minister, said that in May 2024, the government plans to attract at minimum 500 billion ringgit (123.40 billion dollars) in semiconductor investments, supported by at lease $5.3 billion in fiscal incentives. It also stated that it intends to develop local capabilities in chip designing and advanced packaging. Khazanah's portfolio includes Malaysia Aviation Group, the second largest lender in Malaysia, CIMB Group, and a number of other companies. In 2024, its net asset value rose 22% from 84.8 billion to 103.6 billion Ringgit ($25.57billion) from a year ago. Amirul Feisal stated that Khazanah expects its international portfolio share to gradually increase over time. He said that the ringgit could strengthen if the U.S. Dollar was uncertain. However, he did not specify the level.
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What happened in Spain's high speed train crash?
The Sunday train derailment and collision in southern Spain left at least 122 people injured and 39 dead. Officials cited the "strangeness" of the accident, which occurred on a straight section of rail, and one theory suggested that the cause was a broken rail joint. What we know about the situation so far is: The accident occurred at 7:45 pm (1845 GMT), near the town Adamuz, in the province of Cordoba. This is about 360 km (225 miles) south of Madrid. Two high-speed trains were involved, one operated by the private consortium Iryo and the other by Alvia which is run by Spain's national railway company Renfe. The Alvia train was hit by the last two of eight carriages from the red Iryo, which had been travelling between Malaga and Madrid. This caused the first two carriages on the Alvia to fall and derail up to a five-metre (16.4-foot) embankment. What Officials Are Saying According to Renfe Chief Alvaro Fernandez Heredia who said that human error is virtually eliminated, there was only a 20 second interval between the derailment of the train and the impact. He said that it would take some time to determine whether the failure was in the rolling stock or infrastructure. Officials stated that the Alvia appeared to have hit the Iryo's derailed carriages, or debris under the Iryo's chassis. Renfe reported that the 27-year old driver of the Alvia train was killed in the accident. Iryo was a train that carried around 300 passengers and just left Cordoba, a historic city. The train was travelling at 110 kph when the accident occurred, which is well below the 250 kph maximum speed limit on this stretch. Renfe reported that the oncoming train was traveling at a speed 205 km/h. In the first Alvia carriage, there were 37 people and in the second, 16 people. The majority of the injured and dead came from the first Alvia carriages. Oscar Puente, the Transport Minister, said the Iryo is less than four-years-old and the railway track was completely renovated in May last year with an investment of 800 million euros. Iryo stated that the train's last inspection was on January 15th. Puente described the accident as "tremendously bizarre" and stated that the derailment may not have caused any deaths if it wasn't for the approaching train. Faulty Joint a Possible Cause? Sources briefed on the initial investigations said experts found a broken join, which may have created a gap in the rail sections. They believed this was key to determining the exact cause of the accident. Transport Ministry would only confirm that the joint broke as a result the accident and not earlier. They refused to provide any further comments. The ADIF, the state-owned administrator of rail infrastructure, did not immediately respond to a question about this claim. Jose Trigueros said that his preliminary analysis indicated "failure of undercarriage of back units" of Iryo train. He did not exclude a track problem, but said that nightly inspections using tamping machines were intended to detect rail fatigue. In this case, the control center automatically reduces circulation speed. Previous problems The train drivers' union SEMAF warned ADIF last August that the track at the collision site was severely damaged by potholes, bumps and imbalances of overhead power lines. ADIF didn't?respond immediately to a comment request. A review of ADIF's X alerts shows that it previously reported infrastructure problems at Adamuz - from signal failures and overhead power lines to other issues - which caused high speed trains to be delayed between Madrid, Andalusia, 10 times, since 2022. Iryo is a joint-venture between the Italian state railway operator Ferrovie dello Stato and Spanish infrastructure investment funds Globalvia. The service began in November 2022 with the Madrid to Barcelona route, and expanded to other major cities. Iryo's ETR1000 trains are manufactured in Europe by Hitachi Rail and Bombardier for Ferrovie unit Trenitalia. Renfe's Alvia train is manufactured by local manufacturers CAF and Talgo. Everest Insurance, the leading insurer for Renfe provides compensation to passengers and their beneficiaries. Everest declined to provide details on the policy period and deductible when The Insurer contacted them. (Reporting and writing by Victoria Waldersee; editing by Sharon Singleton, Ros Russell, Aislinn Laing; David Latona; Emma Pinedo; Andrei Khalip)
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Chile fires kill 19 people in extreme heat
Authorities in Chile said that at least 19 people have died as a result of wildfires. The government has carried out mass evacuations, and is battling nearly 20 fires, which are exacerbated by high winds and intense heat. At a Monday morning news conference, Luis Cordero, Minister of Security, said that while the?weather conditions over night helped to control some fires but the largest ones were still active and adverse conditions are expected all day. Cordero stated that the forecast for today was high temperatures, and the primary concern was the possibility of new fires igniting in the entire region. Extreme heat warnings were issued for parts of central and south Chile, with temperatures expected to reach as high as 37 Celsius (99 Fahrenheit). HUNDREDS of Homes Destroyed The majority of those who died were from Penco, which is a small coastal city located just north of Concepcion, the regional capital. On Monday, residents of the area began to sift through the rubble from their homes while firefighters continued to put out nearby fires. Ana Caamano (51), one of these residents, was rummaging in the ashes of her home in Lirquen, which she had inherited later from her parents. The wreckage included the corpses of two of her four dogs, a few charred rings, and a metal ladle. Ana Caamano, staring at the rings she held in her hands, said: "They're just not important." "But they're memories." Caamano, her husband Luis and their children were visiting relatives on Saturday, when the fires started. They had been cleaning up the wreckage in their garage so that they could build a temporary home. Franco, their son, was at home. He was attempting to hose the house down when he saw the fire getting closer. A sudden, strong wind brought in a cloud of black smoke, forcing him to leave everything behind. It was lightning fast, said Franco, echoing the memories of many residents who were caught up in a fire that moved so quickly they had little time to escape. Authorities report that 325 homes were destroyed, and another 1,100 are currently being assessed. STATE OF EMERGENCY IS DECLARED IN BIO BIO, NUBLE Chile's CONAF forest agency reported that as of Monday afternoon firefighters were fighting 26 fires throughout the country. The largest were in the regions of Nuble, Bio Bio and Nuble, where President Gabriel Boric had declared a?state of catastrophe. The largest fire, which engulfed 14,000 hectares, was on the outskirts of Concepcion, a coastal city. The authorities are battling a fire that threatens the Manzano Prison on the edge Concepcion, and the town Tome in the north. Heat waves have continued in both Chile and Argentina into the month of January. Wildfires erupted in Argentina's Patagonia earlier this month and burned around 15,000 acres. (Reporting and editing by Bernadettebaum and Andrea Ricci; Alexander Villegas)
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Church leader claims more than 160 people have been seized in Nigerian church attacks
Police said that armed bandits kidnapped dozens of worshippers in Kaduna State, Nigeria, on Monday. A senior church leader estimated the missing number at over 160. Kaduna police reported that gunmen with "sophisticated" weapons attacked two churches in Kurmin Wali - a forest village in Afogo Ward - at 11:25 am. On Sunday. The officers said they were still trying to determine how many people were taken. The police spokesperson stated that the area is remote and difficult to access?due?to bad roads making it difficult to get reliable information immediately after a?such an attack. Reverend John Hayab of the Christian Association of Nigeria in the northern part of the country told reporters by phone that 163 worshippers had been kidnapped. Nine of them escaped and the remaining 172 were still being held. Hayab stated, "I received information from the elders in the churches that 172 worshippers had been abducted and?nine had escaped." After mass kidnappings, initial figures in Nigeria can vary greatly. Early numbers are usually conservative, but local groups and religious organizations sometimes give higher figures. The pattern was similar during the previous abduction of a Catholic School in Kaduna. The police said that troops and other security agencies were deployed in the area. They also stated that they were working to find the kidnappers and free the hostages. Northwest Nigeria has seen an increase in mass kidnappings. Armed gangs are operating out of forest enclaves and attacking villages, schools, and places for worship. (Additional reporting and writing by Garba Mohammed; Editing, Alex Richardson; Tomasz Januaryowski, William Maclean).
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Floods in Mozambique force thousands of people to flee their homes as the rising waters cut communities off
Witnesses and aid workers said that severe floods caused by heavy rains in Mozambique forced thousands of people to leave their homes and some were left stranded on roofs. The waters were swollen and swamping settlements. According to the International Federation of Red Cross and Red Crescent Societies, which is assisting in relief efforts, floods directly affected more than 620,000 individuals, with 72,000 homes flooded and extensive damage caused to bridges, roads and health centers. Rachel Fowler, IFRC's Program and Operations Manager, told reporters in Maputo that the situation was likely to worsen as the dams were already full. This could put more people at risk. Boats and helicopters used to reach survivors Fowler said that Red Cross volunteers have been using small boats to reach the survivors, but that access has become increasingly difficult. South Africa, which is nearby, has sent an air force helicopter to assist. Celeste Maria, a hospital worker, said that she and her family left their home in Chokwe (in the southern province Gaza) after authorities issued flood warnings. The 25-year old said, "Our home has been completely submerged... We have left behind neighbours that are now telling us that they are sheltering in rooftops because the water continues rising." The aerial video showed vast areas submerged under water with only the tops and branches of trees showing. No immediate estimate was made of the number of deaths or injuries caused by recent flooding. PRESIDENT CANCELS TRAVEL, PORT OPERATIONS SLOWED Daniel Chapo, the president of Venezuela, cancelled his trip to Davos to attend the World Economic Forum and stated on social media late Sunday night that "the absolute priorities at this time are to save lives". Scientists say climate change has exacerbated the frequent weather disasters in southern Africa. The Portuguese news agency Lusa quoted Agostinho Vilanculos, the National Director for Water Resources Management. He compared water levels in 2000 to those last week that killed 700 people. Maputo Port's spokesperson, who is a hub for commodities export, stated that operations were slower than normal but not stopped. Two major foreign companies operating in the country, namely?Sasol, a petrochemical company, and Grindrod Logistics, a logistics firm, have said that their operations are not affected. South Africa has also been affected by heavy rains, especially in the northeast. The renowned Kruger Park was reopened Monday after several days of closure. (Additional reporting from Nellie Peyton and Wendell Roelf; editing by Olivia Kumwenda Mtambo, and Andrew Heavens).
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Source: Investigators found broken joints on the track at Spanish rail crash scene
According to a source briefed about the initial investigations, experts investigating the cause of the Sunday derailment in Spain of a high speed train, which killed at least 39 people found a cracked joint on the rails. According to a source briefed on the initial investigations into the disaster, experts investigating the cause of Sunday's derailment of a high-speed train in Spain found?a broken joint on the rails. The accident occurred near Adamuz, in the southern province Cordoba. It is about 360 km (230 miles) south of Madrid. The source said that technicians on site examining the rails found some wear at the joint between sections of rails, called a "fishplate", which showed the fault was present for some time. The researchers found that the defective joint caused a gap to widen as the trains traveled along the track. Source, who declined to be named due to the sensitive nature of the subject, stated that the technicians believed the faulty joint was key to identifying the exact cause of the accident. The Commission of Investigation of Rail Accidents in Spain (CIAF), tasked with investigating the cause of the disaster, has not responded to requests for comment. Adif, Spain's rail operator and the Spanish Transport Ministry, which supervises CIAF, did not reply to any requests for comments. Alvaro Fernandez Heredia told Cadena Ser that it is too early to discuss the cause. He said that the accident occurred in "strange circumstances", adding that "human errors are practically ruled out." Initial Findings from the Inspection According to the source, the first carriages of a train operated by the Spanish company Iryo crossed the gap between the rails. However, the eighth carriage, which was the last carriage, derailed and brought with it the sixth and seventh carriages. Iryo, a private?rail company, is majority owned by the Italian state-controlled rail group Ferrovie dello Stato. Sources pointed out a photo showing a gap in the vertical rail, which was also included in a picture that Guardia Civil Spain shared with the media. As forensic inspectors?photograph the area, police incident numbers are marked. The crash site was visited by the Spanish Prime Minister Pedro Sanchez, and Transport Minister Oscar Puente on Monday morning. Sanchez cancelled his trip the World Economic Forum at Davos in Switzerland following the accident. Puente stated that the Iryo?train was under four years old, and that the rail track had been completely reconstructed last May. Source: Hitachi Rail, the manufacturer of the train, performed a routine inspection on the train, which was conducted on January 15, and found that there were no anomalies. It is the Frecciarossa 1000 model, which is also used in Italy's high speed network. (Reporting and Editing by Josephine Mason, London, and Jon Boyle).
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Snowfall in the Russian Far East is a record, bringing with it fun, frustration and massive snow drifts
According to weather stations and visuals, the biggest snowfall in 60 years occurred on 'Russia's Far Eastern Kamchatka Peninsula. This resulted in a metre-high sand drift that buried cars and blocked building entrances. According to weather monitoring stations, in some areas over 2 m of snow (6.5 feet) has fallen during the first half January. This is after December's?3.7 m. Pictures showed four-wheel drive vehicles struggling to 'traction or being blocked by huge drifts of snow. Locals had to dig paths up to apartment building entrances. "I plan to go on a walk around ?the city tomorrow, though unfortunately the car has been parked in a ?snowdrift for a month," said Lydmila Moskvicheva, a ?photographer in Petropavlovsk-Kamchatsky, a port city 6,800 km (4,200 miles) east of Moscow. A video posted on Russian media showed locals walking along snow drifts and traffic lights, with?great snow piles several meters high lining the roads. Some people jumped down the slopes just for fun. (Reporting and writing by Guy Faulconbridge, editing by Jan Harvey).
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After the crash of a train in Spain, passengers describe their terror and screams.
The survivors of the high-speed train crash in southern Spain described Sunday night the impact moment as a violent jolt followed by screaming, flying objects, and blood. When the accident occurred, the trains were carrying 400 people. It happened in Cordoba province, around 360 km south of Madrid. According to emergency services, 122 people were injured. 48 are still hospitalized and 12 remain in intensive care. On Monday, most survivors admitted that they had no idea of the magnitude of the tragedy until they went outside to see the injured or dead passengers and the rescuers at work under floodlights. "I began to get up and thought, This isn't right. I then looked for my younger sister. It was the last thing I remembered before everything went "dark", said Ana Garcia Aranda (26), who had just returned from Malaga after visiting her family with her sister, and their dog. She was rescued by other passengers who had broken the windows of her carriage. "Some people were okay and others were very, extremely badly injured." "You knew they would die and you could do nothing," she said while wearing plasters to her face. Later, firefighters rescued her sister and brought her to the hospital where she is currently in intensive care. Emergency vehicles filled the narrow roads as sirens echoed throughout the night. Residents of Adamuz say the entire town mobilised to bring water, food, and blankets to the stranded passengers. Salvador Jimenez said, "That will not be forgotten", a journalist from the Spanish public broadcaster RTVE who was rescued from one of those trains. In the end, this is a lottery. "Many of us were lucky." Paqui, whose farm is in the region and who rushed with her husband to the scene, remembers the horrific scenes inside and around the train. "Pieces of people, they weren't any more people. You found arms." "My husband saw a child who died inside... Another child calling for his mom, searching for his mom," she said. "I cannot sleep. Those are images that you will never forget." Raquel, another passenger, told Cadena Ser radio: "I was thrown out of the back cabin, and I opened the door with the top of my head." She added that she briefly fell unconscious before walking towards the firefighters. (Reporting and writing by Nina Lopez; Leonardo Benassatto; Susana Vera; Jesus Calero. Editing by Andrei Khalip, Sharon Singleton, and Sharon Singleton.)
Trump Administration appeals to limit agents' tactics towards Minnesota protesters
The Trump administration announced on Saturday that it would appeal a ruling made by a federal judge who had placed limits on the tactics used by US immigration agents. Immigration agents are operating in Minneapolis.
Lawyers for the Department of Justice filed a brief filing in court to appeal an order that was issued on Friday by a judge prohibiting federal officers from arresting and tear-gassing peaceful protesters and?observers.
The order was issued in response to a suit filed on December 17 against the U.S. Department of Homeland Security, and other federal agencies. Three weeks later an immigration agent fatally stabbed Renee Good (37-year-old) in Minneapolis. Waves of protests followed the shooting.
In recent weeks, the Trump administration has sent thousands of immigration agents to Minneapolis as part of an effort to increase deportations for people who are in the country illegally.
Since an ICE agent allegedly shot Good, tensions have risen over the deployment.
Six protesters and observers brought the case in court, claiming that ICE agents had violated their constitutional rights.
The order prohibits federal officers detaining peaceful protesters or people who are observing officers unless they have a reasonable suspicion that the person is interfering with police or has committed a criminal offense.
Federal agents are prohibited from using tear gas, pepper spray or any other crowd control munitions on peaceful protesters or innocent bystanders who observe and record immigration enforcement operations. (Reporting and editing by Caitlin Gregorio, David Gregorio and Jason Lange)
(source: Reuters)