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After Heathrow Power Outage, UK sets up an energy resilience taskforce
The government announced on Tuesday that Britain would set up a taskforce in order to improve the resilience of the energy grid following a fire at a substation which cut off power to Heathrow Airport for nearly a day. In March, the fire at Heathrow Airport forced Heathrow, Europe's most busy airport, to cancel flights and cause delays, revealing weaknesses in Britain's power grid. The Government said that the Energy Security and Resilience Taskforce, headed by Ed Miliband as energy minister, will coordinate upgrades of infrastructure and emergency response protocol across the country. The team will also be responsible for auditing asset management, fire safety and restoration procedures and ensuring critical national infrastructure operators are armed with robust business continuity plans. The energy department responded to an independent report commissioned to determine lessons learned from the incident with the following statement: "The energy resilient strategy will embed resilience in the design of future energy systems by taking a comprehensive approach to identifying key opportunities for the sector and setting clear ambitions for system resilience." As part of the clean energy transition, the government said it will publish a long-term strategy for energy resilience in 2026. This is to reduce cascading failures that could affect sectors like transport and telecoms. A report from July stated that the UK power grid failed to maintain a substation. The report also said that the problem that caused the fire was found in 2018, but not corrected.
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Polish PM: two of those responsible for the railway blast were Russian intelligence agents
The Prime Minister Donald Tusk announced on Tuesday that Poland had identified two individuals responsible for the explosion that occurred on a rail route leading to Ukraine. He added that these were Ukrainians that collaborated with Russian intelligence, and that they fled to Belarus. The explosion on the Warsaw-Lublin Line, which connects Poland's capital with the Ukrainian border, came after a wave arson, cyberattacks and sabotage in Poland and other European nations since the beginning of the conflict in Ukraine. Warsaw said that Poland is now one of Moscow's main targets because it acts as a hub to aid Kyiv. Russia has denied responsibility for sabotage acts. Tusk said to lawmakers, "The most important thing is that...we have identified the individuals responsible for acts of sabotage." He said: "We are certain that in both cases, the attempts to blow up rails and the violation of the railway infrastructure were deliberate and intended to cause a railroad traffic disaster." A spokesperson for Poland's Special Services Minister said earlier on Tuesday that everything pointed towards Russian intelligence services ordering sabotage against Polish railways. (Reporting by Anna Wlodarczak-Semczuk, Alan Charlish, Pawel Florkiewicz; Editing by Conor Humphries)
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Emirates and Safran Sign Deal for Aircraft Seat Plant in Dubai
Safran, a French aerospace company, and Emirates airline have signed a Memorandum of Understanding to establish a seat manufacturing and assembly plant in Dubai. Safran announced this on Tuesday. Safran and Emirates, based in Dubai, will benefit from the plant's growing capacity. The cabin refurbishment project will initially focus on the business and economy classes, but plans are to expand in future. Safran plans to finish the plant in the fourth quarter 2027. Initial plans include assembling up to 1,000 seats per annum for business class. Seat production must be increased to help clear the logjam, which has caused billions in delays and costs for Airbus and Boeing. Emirates could take delivery of aircraft without seating and then fly them to Dubai for the installation of seats at the new facility. This is something that normally happens at Airbus or Boeing before planes are shipped. Reporting by Tim Hepher. Ahmed Elimam wrote the article. Mark Potter (editing)
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Rostec reports that defence exports have halved in the last 20 years as Russian orders dominate
Rostec, a Russian state-owned conglomerate, said that on Tuesday its defence exports had fallen by half since the year 2022 due to domestic orders becoming a priority in light of the conflict in Ukraine. However, Rostec expects a recovery within upcoming months. Sergey Chemezov, Rostec's chief executive officer, told reporters that until 2022 Russia ranked second in the world in terms of defence exports after the United States. However the volume has dropped "because we had to supply the majority of our production to our own army". He said that sanctions have caused problems in both the civil and defense sectors but they did not impact on overall production. "I can assure you that we will begin to recover in the near term (with exports). "We have increased our production and expanded our capacity, so that we can not only supply our military, but also our partners," Chemezov stated, speaking at the Dubai Airshow. Rostec reported to Russian state agencies in early November that the company's backlog for export orders exceeded $60 billion. He said that Rostec is seeing a large demand for its fifth-generation stealth Sukhoi Su-57 fighter jet from several countries, but he did not give any details. United Aircraft Corporation, a subsidiary of Rostec, continues to develop the MS-21 aircraft. It is set to replace the Airbus A320 in Russia as well as the Boeing 737. The MS-21 is expected to reach commercial use by 2026. Chemezov stated that the MS-21 is undergoing flight tests, and that a smaller 140-seater version will be available within two years. (Reporting and writing by Federico Maccioni, Gleb Stolyarov, Editing by Joe Bavier/Guy Faulconbridge).
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IATA chief: EU is doing "very little" to improve airline competitiveness
Willie Walsh (Director General of the International Air Transport Association, IATA) said that on Tuesday the European Union had taken "very few actions" to improve airline competitiveness. He also criticised the compensation policy for passengers. In recent years, European airlines have faced many challenges, from strikes in France, particularly in the air traffic control sector, to engine issues, and delays with new fuel-efficient Boeing aircraft. The EU institutions are currently in negotiations to reform the 20-year-old passenger rights regulation of the EU, known as EU261. Walsh claimed that it was outdated. Walsh stated that the compensation scheme for delayed flights punishes 99 percent of passengers, as less than one percent of flights exceed the three-hour mark. In June, the European Parliament and the member states agreed to extend the threshold for flight delays from three hours to four for short-haul flights. The current threshold is three hours. In a Tuesday morning statement, IATA stated that this would "reduce the perverse incentives for airlines to cancel late flights and be consistent with the passengers' preference to come late rather than never arrive." IATA called for thresholds of 5 hours and 9 hours, respectively. However, the European Parliament wants to remove the thresholds, and allow passengers to bring in a free cabin baggage, among other things. On Wednesday, the parliament and commission will meet to continue discussions.
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China receives the first shipment of Argentine soy meal since import approval in 2019
Two China-based traders confirmed that a cargo of Argentine soymeal had cleared Chinese customs. This is the first shipment since Beijing authorized such imports in 2019. It also signals a new trading channel with the top exporter of soybean meal. According to NABSA's and LSEG's ship tracking data, the Sumatra ship, which was carrying 30,000 metric tonnes of Argentine soy meal, left Argentina in September. It arrived in Nansha, a port in southern Guangdong Province, in late October. One source familiar with the situation said, "The cargo cleared customs." Mysteel, a consultancy, said in a Tuesday note that the Argentinean soymeal had entered the market at "highly competitive prices" and with good quality. China is the largest consumer of animal feeds rich in protein, but it produces the majority of them by crushing soybeans imported primarily from Brazil and the United States. Argentina is one of the top exporters of soy meal and oil in the world. Earlier, it was reported that Chinese feedmakers purchased three Argentinean soymeal shipments to diversify their supply in anticipation of possible disruptions due to the U.S./China trade war. Bunge, a U.S. grains dealer, sold all three loads. Bunge had sent a soybean meal shipment to China in July but diverted it later to Vietnam, citing "commercial reasons". It did not respond immediately to a comment request. China is currently dealing with a glut of soybeans after months of record imports. Buyers feared that if the ongoing trade war with Washington continued, they would be left shortchanged. Johnny Xiang of Beijing's AgRadar Consulting said that clearing customs confirmed the opening of a new trading route. If the price is right, and quality does not matter, then future purchases are still possible. Reporting by Ella Cao and Naveen Thupkral, both in Beijing; editing by Joe Bavier
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US board determines cause of deadly Maryland bridge collapse
Tuesday, the National Transportation Safety Board (NTSB) will hold a hearing to determine the probable causes of the collapse of Baltimore’s Francis Scott Key Bridge in March 2024 that was caused by the cargo vessel Dali. Six people were killed. The board was prompted by the incident to demand urgent safety assessments for 68 bridges across 19 states, including iconic crossings such as the Golden Gate Bridge. Chesapeake Bay Bridge. Brooklyn Bridge. and George Washington Bridge. The review is focused on bridges that were built before 1991, and are frequented frequently by ocean-going ships. These bridges have not been subjected to vulnerability assessments. The May crash of a Mexican Navy Training Ship into the Brooklyn Bridge raised concerns over bridges being damaged by vessels. The Dali experienced a blackout several times prior to the crash, including during port maintenance and just before the crash. The NTSB is considering new recommendations for preventing catastrophic collisions when power outages occur at sea. The NTSB reported that last year, the Dali cargo vessel experienced other power outages. About four minutes prior to the crash, electrical breakers tripped unexpectedly and caused a loss of all shipboard equipment including lighting. This occurred when the ship was only 0.6 miles (1 km) away from the bridge. The initial estimate was that a replacement bridge would cost between $1.7 billion and $1.9 billion, with completion expected by the end of 2028. State officials announced on Monday that they expect the bridge to cost between $4.3 billion and $5.2 billion, with traffic opening only in late 2030. The increased cost was attributed to a new pier-protection system and a longer, more complex design. Maryland Governor Wes Moore expressed disappointment over the slower rebuilding schedule. Sean Duffy, the U.S. Transportation secretary, raised concerns in September about the cost of the project. The FBI began a criminal investigation into the collapse in April 2024. (Reporting and editing by Lincoln Feast; Reporting by David Shepardson)
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Maguire: China's battery exports are at new heights.
China's exports have reached a new record for 2025. They have risen by 24% over the previous year in the first nine month of the year. Ember, an energy think tank, shows that batteries have been China's top clean energy export since mid-2022. This year, they have generated export revenues of about $60 billion for the country. This is a significant increase in exports of electric vehicles, grid components and renewable energy infrastructure. China is a global leader in the manufacturing and export of battery technology. It is also benefiting from a boom in worldwide demand for batteries that are used in EVs or power networks. Here is a list of top markets for China’s battery exports. These are expected to continue growing in most major markets by 2026. WIDE SPAN In 2025, 23 different countries have purchased batteries made in China worth $500 million or higher. This shows the reach and profitability of the battery export market. Germany has been the largest market for China's battery sales so far in 2025. Sales of $10.5 billion have been recorded in just September. The top battery customers in Germany include the leading car manufacturers, such as Volkswagen and BMW, as well as grid operators who are expanding Germany's BESS network. Vietnam ($3.6 billion) and the United States ($9.3 billion) are the two next biggest markets for China's battery products. Germany also saw the biggest annual increase in the purchase of China's battery this year. Receipts were up by $2.5 Billion compared to 2024. The Netherlands, Australia, and India all saw steep increases in their imports year over year. Each country has spent more than $1 billion in 2025 as compared to the previous year. RAPID GROWTH Europe has been the number one destination for China's batteries exports in recent years, accounting for 42 percent of total China battery exports. Asia has the second largest market with 26% of all sales in 2025. North America is next (with 17%). The Middle East and Latin America, however, have seen the highest growth rates in 2025. They posted 107% and 99% increases respectively, when compared with the previous year. Battery exports from Saudi Arabia, the Middle East's biggest battery buyer, are nearly fourfold higher than in 2024. Meanwhile, Chile is Latin America's number one buyer and has seen a 320% increase in imports since 2024. Oceania, mainly driven by Australia, and Africa, mainly driven by Nigeria, South Africa and the Democratic Republic of Congo, have both seen rapid growth in 2025. CRITICAL MASS China's battery exporters are enjoying rapid growth in a number of countries outside of those noted above. These markets will continue to be a lucrative market for battery sellers. Spain, United Arab Emirates (UAE), Pakistan, Mexico, and The Philippines are all countries with ambitious plans for solar energy generation and electric vehicles, which heavily depend on batteries. China's extensive distribution and services networks in these countries will ensure that further sales are possible. Greece, Egypt and Italy are also fast-growing markets. Each of these countries has seen its sales exceed $100 million this year. They look set to continue being promising destinations for the growth of EVs and energy batteries systems. The United States is one of the few countries that has seen a decline in China battery imports in 2018. It is involved in a trade dispute with China and has reduced federal support for EVs. In total, 114 countries and territories have bought Chinese batteries worth $10 million or higher in 2025. This has given China a significant sales outlet to distribute its leading battery sector. China is likely to remain the main supplier of EV and BESS battery for many years. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
President says that Tanzania's damaged image may make it difficult to attract funding.
Tanzania may have difficulty securing funding from international institutions due to its damaged global reputation, said President Samia Suluhu Hassan on Tuesday as he swore in new ministers following last month's disputed elections.
Hassan, 65 years old, was declared the winner by a landslide of the October elections that were marred with clashes between security forces and her main rivals over their exclusion. She did not say what tarnished Tanzania's reputation.
The United Nations, rights groups and opposition parties have all said that hundreds of people are likely to have been killed during the clashes. However, the government has disputed these figures, calling them exaggerated.
"Most of time, we depend on outside sources." Hassan: "We have received loans from international institutions and banks. But what happened to our country has damaged our image."
The bad reputation we created might make us return.
African Union observers stated that the vote was not credible, and they documented evidence of ballot box stuffing. The government has rejected criticism and claimed that the elections were fair.
Hassan promised to investigate election violence, and offered condolences last week to bereaved family members. This was her most public acknowledgment of the turmoil that has led to the biggest political crisis the country has experienced in decades.
She urged officials, during the swearing in of ministers on Tuesday in Dodoma's administrative capital, to focus instead on raising money from domestic sources.
The finance ministry announced in June that it had planned to borrow 8.7 trillion Tanzanian Shillings ($3.6billion) for the fiscal year 2025/26. (July - June). The 2024/25 budget set the amount of external grants and loans to be made at 5.13 trillion Tanzanian shillings.
(source: Reuters)