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Argentina to offer stake in bulk state-owned power transport company
Argentina will put up for sale its entire 51% stake in majority state-owned power transport firm Transener in the coming days, energy and mining federal government coordination secretary Daniel Gonzalez said on Friday. Transener is the South American country's main high voltage power transmission company, with a grid that consists of some 12,400 kilometers of transmission lines, according to the government. This statement remains in line with the national federal government's policy of advancing in a model where the state ceases to play the role of business owner, promoting private involvement in tactical sectors, Gonzalez stated in a. declaration. The libertarian government of President Javier Milei has. pressed a plan to considerably lower the role of the state as. Argentina battles its worst economic crisis in decades, with. inflation well into the triple digits. Under Milei, inflation has boiled down from a peak near. 300% and is expected to end this year closer to 100%. Nevertheless,. the economy has slowed and hardship rates have surged past 50%. amidst cuts in public costs.
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Russia launches first ammonia sea terminal in the Baltic Sea
Russia introduced the country's. first ammonia sea terminal at the port of UstLuga on Friday,. intending to increase export capability amid Western sanctions. Previously, Russia exported ammonia utilizing the Baltic sea. ports and a pipeline which linked the Russian city of. Togliatti with the Ukrainian port of Odesa, however access to. western ports as well as to the pipeline, was cut off for. Russian suppliers by sanctions. The terminal was built by Russian fertiliser manufacturer. Eurochem, according to its 2023 monetary report. The launch of. the terminal was announced by a company called Port Alliance,. whose owners have actually not been disclosed. The total production capability of the terminal, which is. created for all kinds of fertilisers, will amount to 14 million. metric heaps, according to the Leningrad region administration's. statement on Friday. The shortage of port facilities for harmful chemical products. in Russia has to do with 6 million lots per year, according to Russian. authorities.
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Kinhult opens three-shot lead at Alfred Dunhill Championship
Sweden's Marcus Kinhult carded a 68 in his second round to open a threeshot lead at the middle of the DP World Tour's Alfred Dunhill Championship dipped into a blistering Leopard Creek Country Club on Friday. Kinhult, 28, sunk 7 birdies but also carded three bogeys as he moved to 11 under-par for the competition, opening some daytime in between himself and a trio of gamers on 8 under-par-- South African Dean Burmester (67 ), Dale Whitnell (67) from England and Italian Andrea Pavan (69 ). Kinhult is hunting a 2nd win on the European circuit, his first coming at the British Masters in 2019. It was hot, Kinhult said. It was in fact OK today, but after five or six holes I got the umbrella up and attempted to hide under that for the majority of the day. It was an excellent score today and I'm eagerly anticipating 2 more rounds, he added. Ideally we can keep enhancing and we'll see where that takes us. Over night leader Andy Sullivan carded a superb blemish-free 64 on Thursday but might just manage a 73 in his 2nd round and is 4 shots back.
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Gupta granted hold-up on document disclosure in long-running Trafigura case
Prateek Gupta, who is accused of fraud by commodity trading company Trafigura, on Friday secured a delay up until completion of February in disclosure of documents appropriate to the longrunning case. Gupta's attorneys told a London court in March that he had run out of funds for legal fees and wanted to reach a settlement. Trafigura filed the case in February 2023, alleging systematic. scams by the Indian business owner and companies managed by him. Gupta has stated in his defence that Trafigura personnel created. the scheme at the centre of the case, to substitute low-value. products such as scrap for top-quality nickel. Trafigura and its. employees have actually denied any knowledge of fraud. The delay is the most recent in the event, with the trial itself. due to start in November next year. Justice Robert Bright agreed to set Feb. 28 as the brand-new. deadline for the disclosure by both celebrations at a London court. hearing on Friday after an application by Gupta's attorneys. Gupta has actually worked with new attorneys at London law firm Preston. Turnbull, who did not respond to a Reuters request for remark. Trafigura decreased to comment. Geneva-based Trafigura scheduled a disability charge last year. of $590 million due to the supposed fraud including nickel freight. that turned out to be product of much lower value.
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Asian area LNG falls on muted demand, strong inventories
Asian spot liquefied natural gas (LNG) rates fell this week amid weak need and the availability of more supply in the spot market. The average LNG price for January delivery into north-east Asia was at $14.50 per million British thermal units ( mmBtu), down from $15.00/ mmBtu last week, industry sources approximated. The price for February shipment was approximated even lower at $ 13.50/ mmBtu, the sources said. Rates in Asia have actually continued to move due to weak demand, combined with sufficient storage, and exacerbated by majors using out for prompt into Q1 freights. We're most likely to see further dips as the winter season has been reasonably moderate, stated Toby Copson, an independent LNG specialist. Samuel Good, head of LNG prices at Argus, stated that acquiring interest across Asia more broadly has actually deteriorated in the face of current greater prices. There has actually likewise been more supply provided on the area market both from the Asia-Pacific and also the Atlantic as sellers in the basin look to Asia amid weaker European need. In Europe, gas rates have fallen nearly 9% over the week on a sell-off in net long positions by investment funds and milder weather forecasts reducing heating demand. Incremental revisions to weather report for north-west Europe over the rest of this month have taxed heating need expectations, assisting to relieve issues for the region's quick underground gas storage withdrawals in recent weeks, which would need to be made up once again next summertime, Excellent stated. EU gas storage inventories are presently around 80.16% full, data from Gas Facilities Europe showed, down from 91% at the very same time last year and listed below the 5-year average of 83%. The question now is at what levels stocks will be at completion of the winter season and whether there will suffice time to reconstruct before the next winter season, said Hans Van Cleef, chief energy economist at PZ - Energy. The fact is that the forward curve remains in contango (where. the LNG futures cost is greater than the spot rate) leaves no. incentive to start buying gas in the summer for storage and. use in winter season 25-26. This could result in even more upward cost. pressure in the course of next year, Van Cleef stated. S&P Global Commodity Insights examined its everyday North West. Europe LNG Marker (NWM) price benchmark for cargoes provided in. January on an ex-ship (DES) basis at $12.962/ mmBtu on Dec. 12, a. $ 0.14/ mmBtu discount to the January gas cost at the Dutch TTF. hub. Argus assessed the price at $12.900/ mmBtu, while Glow. Products examined it at $12.914/ mmBtu. The U.S. arbitrage to north-east Asia through the Panama Canal. is presently closed, signalling U.S. freights are incentivised to. provide to north-west Europe, stated Spark Commodities analyst. Qasim Afghan. In LNG freight, Atlantic rates increased for the 3rd week. running to $22,750/ day on Friday, while Pacific rates was up to. $ 21,250/ day, Afghan added.
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Austria uses Syrian refugees 1,000 euros to return home
Austria's conservativeled government stated on Friday it is offering Syrian refugees a. return benefit of 1,000 euros ($ 1,050) to move back to their. home nation after the fall of Bashar alAssad. Conservative Chancellor Karl Nehammer responded quickly to. Assad's topple on Sunday, stating the same day that the. security situation in Syria need to be reassessed so regarding enable. deportations of Syrian refugees. Deporting people against their will is not possible until it. ends up being clearer what instructions Syria is taking. In the meantime,. Austria's federal government has said it will focus on voluntary. deportations. It has also stopped processing Syrians' asylum. applications, as have more than a lots European nations. Like many conservatives in Europe, Nehammer is under. pressure from the far right, with the 2 groups typically appearing. to try to outbid each other on tough-sounding migration. policies. Syrians are the most significant group of asylum-seekers in. Austria, a European Union member state. Austria will support Syrians who want to return to their. home country with a return perk of 1,000 euros. The nation now. requires its residents in order to be rebuilt, Nehammer stated in an. English-language post on X. The number of Syrians will use up the deal stays to be seen. With nationwide flag-carrier Austrian Airline companies having actually suspended. flights to the Middle East since of the security scenario,. the Austrian benefit might not even fully cover travel. An economy class one-way ticket in a month's time to Beirut,. a common starting point for those heading overland to Damascus,. currently costs a minimum of 1,066.10 euros ($ 1,120.58) on Turkish. Airlines, according to the company's website. Austria's reactionary Liberty Party came first in September's. parliamentary election with around 29% of the vote but, as no. prospective union partner was upcoming, Nehammer is leading. coalition talks with the Social Democrats and liberal Neos.
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Rome's Jews reveal anger at union strike over Israeli 'genocide'.
Rome's Jewish community revealed discouragement on Friday after two unions called an across the country strike to protest versus Italy's support for the genocidal Israeli federal government amongst other problems. Friday's strike by the USB and Cobas unions has primarily hit public transportation and is because of last 24 hours. Ours is a strike against the war economy and thus also against our federal government's support for the Israeli state, a. representative for the USB union told Reuters. Along with a need for greater wages and a shorter working. week, a lengthy strike manifesto published online singled out. Israel in the unions' opposition to Italy's growing participation. in war theatres. Victor Fadlun, president of the Jewish Neighborhood of Rome,. implicated the unions of stirring anti-Semitism. Dismay and confusion. There are no other words to. describe what we feel, Fadlun said in a declaration. We are faced with the emergence of hatred towards Israel. that ignores any reasonable context, which can have no. other explanation than the seriousness of revealing, even if it is. lost, an anti-Semitism that has been simmering all along,. he included. Israel's military project in the Gaza Strip has killed more. than 44,800 people since it started 14 months back, according to. Palestinian health authorities. The war started after Hamas gunmen stormed into southern. Israel, eliminating around 1,200 individuals and taking about 250. captives back to Hamas-run Gaza, according to Israeli tallies. Italy has stayed company in saying Israel had a right to. safeguard itself, however has consistently called for a ceasefire and has. urged Israel to limit civilian casualties. Friday's strike had a minimal effect on transportation, with. some, however not all city lines shut in Rome and Milan, while bus. and tram services were running in the majority of cities albeit with. delays.
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Ukraine 2024/25 grain crop seen at 55 mln T, exports 40.3 mln T, minister states
Ukraine's grain harvest could total around 55 million metric lots in 2024, against the previous estimate of 54 million heaps, Ukrainian farming minister Vitaliy Koval said on Friday. Koval told Reuters the nation's grain exportable surplus is seen at 40.3 million lots in the 2024/25 July-June season, consisting of 16.2 million lots of wheat, 20.5 million tons of corn and 2.9 million lots of barley. Ukraine is major global grain grower and exporter and it offered abroad about 51 million tons of grain in 2023/24. Koval informed Reuters in September that Ukraine can export 21.7 million tons of corn in 2024/25 season. Expert APK-Inform has actually stated that Ukrainian grain export could be at 37.3 million lots and the volume may consist of 14.4 million tons of wheat, 2.6 million tons of barley and 20 million tons of corn. The ministry's data showed on Friday Ukraine had exported 19.4 million lots of grain as of Dec. 13, including 9.2 million tons of wheat, nearly 8 million tons of corn and 1.9 million tons of barley.
Descartes reported that goods from China increased U.S. ocean exports in October.
Descartes Systems Group, a trade data provider, said Monday that shipments from China contributed to the U.S. exceeding 2.4 million 20-foot equal units (TEUs), for the fourth consecutive monthly in October.
Container imports in the United States totaled 2,49 million TEUs last month, a decline of 1% from September but only 2.4% below this year's peak reached in July.
The volume of imports from China increased by 8.3% compared to October 2023, reflecting a general upward trend. Descartes data revealed that the most common Chinese imports include bedding, furniture, toys, sports equipment and games.
Donald Trump, the President-elect of the United States, has pledged to impose a 60% tariff on Chinese products and other products imported from Mexico. Importers have already rushed to ship their products in order to avoid additional tariffs on Chinese goods.
China's share of U.S. container exports fell to 38.5% in October from the peak of 41.5% reached in February 2022.
Transit time delays in seven of the 10 largest U.S. port cities increased in October. This includes the top five East Coast and Gulf Coast ports where operations were affected by a 3-day strike at the start of the month.
A wage agreement was reached between the United States Maritime Alliance and the International Longshoremen's Association. They set a Jan. 15 deadline for a tentative agreement on port automation and the remaining issues. (Reporting and editing by Aurora Ellis in Los Angeles, Lisa Baertlein from Los Angeles)
(source: Reuters)