Latest News
-
US Admiral Leading US Troops in Latin America to Step Down
Admiral John F. Kelly, commander of U.S. forces in Latin America, will retire on Friday two years earlier than planned. This is due to the rising tensions with Venezuela. Three?U.S. Two people who are familiar with the situation and three?U.S. Hegseth was said to have grown frustrated by Southern Command's efforts to expand U.S. military planning and operations in the region. A senior official confirmed that the discussion about whether Hegseth was going to dismiss Holsey began roughly two weeks prior to his surprise departure. Holsey's early retirement has not been explained publicly. Some officials privately speculated that he was against recent U.S. attacks on suspected drug ships in the Caribbean. According to Politico, Holsey claimed that in a meeting held behind closed doors with senior lawmakers, his decision had nothing to with the operations under his command. Holsey's deputy, Air Force Lieutenant General Evan Pettus will officially take over the command of U.S. Southern Command during a Friday morning ceremony. Pettus will be the acting head of U.S. Southern Command. According to a source with knowledge of the situation, President Donald Trump will nominate Lieutenant-General Frank Donovan as Holsey’s permanent successor. The source warned that the nomination was not finalized yet and could still change. Holsey’s premature retirement is not only rare, but also not unprecedented. In 2008, Central Command Commander Admiral William Fallon retired after a year of overseeing U.S. forces in the Middle East. He had made comments about Iran and other issues which irked Bush administration. Holsey's departure is the latest of a number of senior officers who have left their posts since Hegseth assumed control over the Pentagon. C.Q., the Chairman of the Joint Chiefs of Staff and others have left abruptly. Brown and Lisa Franchetti who was the top naval officer at the time, the first woman in that position, were both sacked. MONROE DOCUMENT REVIVAL? Holsey leaves as Trump signals a major shift in foreign policy. This week, a strategy document called for reviving 19th century Monroe Doctrine that declared the Western?Hemisphere Washington's zone. The U.S. has increased its military presence in the Caribbean, including deploying an aircraft carrier strike force. This policy change is also reflected by the new U.S. deployments of training to a revived jungle?school?in Panama. Trump has increased pressure in recent months on Venezuelan president Nicolas Maduro. Washington accuses Maduro of drug trafficking, which Maduro denies. Maduro says the U.S. military buildup is aimed at toppling him and grabbing Venezuela's oil. The U.S. Coast Guard seized an oil tanker from Venezuela on Wednesday, the first time the country has interdicted Venezuelan crude oil since the U.S. sanctions have been in place. Trump's military actions against alleged drug traffickers have come under scrutiny after a decision on September 2 to launch a second attack on a suspected boat of drugs in the Caribbean. The Law of War Manual of the Defense Department forbids attacking combatants who are incapacitated or unconscious, or those who have been shipwrecked as long as these individuals abstain from hostile acts and do not try to escape. The manual lists firing on shipwreck survivors among the "clearly unlawful" orders that should be rejected. The Trump administration has described the attacks as an attack on drug cartels. They have called them armed groups, and said that the drugs brought to the United States killed Americans. (Reporting and editing by Ros Russell; Additional reporting by Idrees Al; Reporting by Phil Stewart)
-
AfDB loans Morocco $316 Million for airport improvements ahead of the 2030 FIFA World Cup
The African Development Bank (AfDB), announced on Friday that it would lend Morocco 270 millions euros ($316 million) to upgrade the country's airport infrastructure before hosting FIFA World Cup 2030. Morocco will invest $4 billion to increase the capacity of its airports to 80 million passengers by 2030. The current number is 38 million. This investment is part of a plan to prepare for an influx in tourists ahead of the World Cup which Morocco will be co-hosting with Spain and Portugal. Morocco, the most visited country in Africa last year, is already on track to'set a new record for tourism' by 2025. The country has reported 18 million arrivals as of November, compared to 17.4 million total arrivals during 2024. AfDB announced in a statement that the loan would help modernise airport equipment and expand passenger terminals at key tourist hubs such as Marrakech, Agadir and Tangier. This financing brings the total AfDB commitments this year to?Morocco to 1.3 billion euro, reaffirming the position of the country as the largest client of the?bank. The Moroccan government is also expanding the fleet of the state-owned airline Royal Air Maroc in order to strengthen its role as a regional hub connecting Africa with Europe, the Americas and Asia through its Casablanca based. $1 = 9.1922 Moroccan Dirham (Reporting and editing by Susan Fenton; Ahmed El Jechtimi)
-
Asia spot prices near 2-year low due to ample supply and mild weather
The Asian spot price of liquefied gas fell to its lowest level in 20 months due to ample supplies and mild temperatures, which encouraged some importers who were 'price sensitive'. Average LNG price for delivery to northeast Asia in January Industry sources estimate that the price per million British thermal units was $10, down from $10.66/mmBtu last week. Estimated price for February was $9.60/mmBtu. Kesher Sumeet is a senior LNG analyst with Energy Aspects. He said that the mild weather and continued global LNG loadings continue to exert downward pressure on Asian gas prices. The 10-year average for heating degree days in the region is expected to be below that of the next two weeks following a brief cold spell in the first week December. HDDs are used to estimate the demand for heating?homes or businesses' by measuring how many degrees below 65 degrees Fahrenheit ( 18 degrees Celsius) a day’s average temperature. Sumeet?added softer prices had encouraged some Indian buyers as well as Chinese importers to increase their purchases. Martin Senior, Argus' head of LNG pricing, said that this spot demand is mainly driven by price-sensitive buyers, but the utilities in northeast Asia are well stocked. S&P Global Energy's daily Northwest Europe LNG Marker price benchmark (NWM) for cargoes to be delivered in January, on an ex ship (DES) basis, was $8.702/mmBtu as of December 11. This represents a discount of $0.525/mmBtu compared to the TTF hub price. Spark Commodities set the price at $8.78/mmBtu while Argus put it at $8.781/mmBtu. Aly Blakeway is the manager of Atlantic LNG, S&P Global Energy. She said: "Continued investment fund pressure, milder temperatures, and strong LNG and pipeline gas supplies are keeping the market bearish despite winter's lower storage levels. Blakeway added that Egypt also saw multiple diversions, as well as a cargo heading west, which has created uncertainty about its actual demand. According to independent gas analyst Seb K Kennedy, physical gas players are buying up the TTF drop, creating record net longs. Commercial operators are stocking up on cheap feedstock or winter hedges for cheaper prices, or as a way to lock in margins from their physical operations. Hedge funds, meanwhile, have extended their net short positions. According to Spark Commodities analyst Qasim Afghanistan, the U.S. arbitrage to Northeast Asia via Cape of Good Hope is widening and now points more to Europe. The arbitrage via Panama, on the other hand, has shrunk to breakeven levels. He added that the rates for LNG freight in the Atlantic fell to $115.750/day while rates in Pacific dropped to $84.500/day. (Reporting and editing by Emily Chow)
-
Hensoldt will supply radars to Rheinmetall's Air Defence Division
The German companies announced on Friday that Hensoldt would?supply? the air defence division at Rheinmetall with radars for ground-based applications. Hensoldt SPEXER radars will be used to equip Rheinmetall Skyranger 30 Systems, providing target detection and tracking as well as the laser-based HoWiSM Drone Defence System. The companies did not provide a timeline for delivery. In late October, Rheinmetall and MBDA announced that the HoWiSM could be fully operational by 2029. Hensoldt & Rheinmetall released a joint statement saying that "different companies within the Rheinmetall Group can place orders" under the framework agreement. Drone incursions at airports and other sensitive sites across Europe have heightened the pressure on governments to increase protection against such threats. The companies stated that the agreement would be valid until 2030. Reporting by Maria Rugamer. (Editing by Matthias Williams, Mark Potter and Mark Williams)
-
Ukraine claims it has hit two Russian vessels transporting military equipment on the Caspian Sea
Ukraine's Special Forces?said?Friday that they conducted an operation with what they called a local resistance group to strike two Russian ships transporting military equipment and weapons?into the Caspian Sea. They did not specify the date of the'strike. On Thursday, a Ukrainian official claimed that Kyiv had used drones to strike a Russian oil platform in the Caspian Sea for the first-ever time. This disabled the extraction of oil and gas from around 20 wells. The statement by the special forces on Telegram didn't say how or to what extent they hit the vessels. The ships were said to have been hit off the coasts of Russia's?republic Kalmykia. The Composer Rakhmaninoff, and Askar-Sarydzha were named as vessels that the U.S. sanctioned for carrying military cargo between Iran and Russia. The statement stated that the "Black Spark" movement of resistance had provided detailed data on the movements and cargoes of the ships. (Reporting and editing by Alison Williams, William Maclean; Max Hunder and Pavel Polityuk)
-
Berlin eyes TenneT Germany majority stake, Boersen-Zeitung says
Boersen-Zeitung, a German newspaper, reported that the German government was in early discussions to 'acquire' a majority stake of?TenneT Germany power grid operations after agreeing in principle to take 25.1%. The financial paper cited sources that said 'Berlin was considering building a consortium with financial investors like Apollo, Blackstone, or Brookfield. Companies and the German Economy Ministry did not respond immediately to a request for comment. Boersen-Zeitung cited sources who said that the German government has also agreed to buy in principle a 25,1% stake in grid company's Dutch parent. Last month, a document from the Ministry of Economy stated that such a deal was close to completion. Berlin is 'considering' buying a 25% stake in order to maintain greater control over critical energy infrastructure, and to secure funding for the?massive investment needed to make the switch to renewable energy. (Reporting and writing by Holder Hansen, Tom Sims; editing by Thomas Seythal).
-
Sources say that a vessel caught fire after the Russian attack on Ukraine’s Odesa Region
Two sources familiar with the situation said that a bulk carrier in Ukraine's Odesa area suffered damage and was on fire following a Russian attack on Friday. Sources said that the vessel was anchored in Chornomorsk - one of Odesa's three major Black Sea ports. Last week, Russia threatened to "cut Ukraine?off?from the ocean" in retaliation to Kyiv's attacks on unlicensed oil tankers headed to Russia to export their?oil. The attack on the ship was not clear at first. One source identified the vessel Cenk T. According to MarineTraffic's website, a Panama flagged vessel with that name was identified in the Black Sea about 21 hours ago. Could not independently confirm the flag of the vessel. Sources familiar with the situation have told? The vessel's Turkish owner. Ukraine's airforce reported Friday?missile and a drone attack on Odesa Region. (Reporting and writing by Yuliia Dyesa and Pavel Polityuk; Editing, Alison Williams, Kirby Donovan).
-
LSEG data show that Russia's Sibur has shipped LPG to China from Ust-Luga for the first ever.
According to traders and LSEG's ship-tracking data, Sibur, Russia’s largest producer and supplier of liquefied gas, delivered a.first cargo to China via the Baltic Sea port of Ust-Luga. Sibur mainly supplies LPG to Turkey. However, the demand for LPG has declined by?5%-6% per year, according to traders. Algeria and the U.S. also dominate its market. A trader commented that it was becoming increasingly difficult to export additional LPG volumes to Turkey. According to LSEG the large gas?carrier Pacific Moon has arrived in the Chinese port of Quanzhou, located in?the southern Fujian area at the end November. According to industry sources, the company delivered approximately 33,000 metric tonnes of propane at Ust-Luga by mid-October. Sibur didn't immediately respond to a comment request. Sibur began supplying LPG in Ghana, West Africa, and India earlier this year. The company used medium gas carriers capable of transporting up to 20,000 tonnes of cargo. According to industry sources and LSEG, Sibur increased LPG'supplies' from Ust-Luga from January to November by 70%, to 860,000 tonnes, on an annual basis, after reducing them by 37% in 2024 to 570,000 tones from 2023. Reporting by. Mark Potter (Editing by Mark Potter).
Wall Street closes greater, buoyed by banks, small-caps
The Dow Jones Industrial Average increased on Wednesday, as Wall Street's three benchmark indexes ended higher, weathering decreases in megacap tech shares thanks to small-caps gains and financial shares buoyed by strong earnings.
The Dow once again closed above 43,000 points, recovering losses in the previous session. The S&P 500 was a hair far from setting another closing milestone, but eventually closed just short.
According to initial information, the S&P 500 gotten 27.07 points, or 0.47%, to end at 5,842.33 points, while the Nasdaq Composite got 50.92 points, or 0.28%, to 18,366.51. The Dow Jones Industrial Average increased 338.18 points, or 0.79%, to 43,078.60.
On a broadly favorable day for Wall Street, it was financial stocks which blazed a trail.
I believe financiers have turned a bit out of some of the big tech business and into the big financial companies, said Michael Kantrowitz, chief investment strategist at Piper Sandler.
He said some motion from investors made sense as the rate environment has actually become more conducive for bank incomes, while a great deal of optimism around expert system (AI) is priced into tech companies.
Morgan Stanley jumped after it signed up with peers such as JPMorgan Chase in reporting strong revenues following a. sharp increase in financial investment banking revenue.
Bigger regional banks, typically less reliant on. financial investment banking activities, were likewise greater. First Horizon. and U.S. Bancorp increased after reporting. third-quarter outcomes.
The broader Banks index was up, as was an index. tracking regional banks.
Beyond the banks, investor attention was seen in. small-cap stocks, with some rotation from costly tech. megacaps to more economical sectors.
Both the Russell 2000 index and the S&P Small Cap 600. climbed.
While acknowledging some purchasing in current days, Piper. Sandler's Kantrowitz stated he was yet to be persuaded of a larger. rotation into little caps.
I believe people are broadening out their portfolio. direct exposure, however still sticking with the very same flavor of. principles, including individuals were purchasing premium small-caps. but not digging into the kinds of deep-value names you would. anticipate to attract attention if the complete rotation was underway.
Amongst the big-tech names which dragged, Apple. dipped after striking a record high in the previous session. Microsoft and Meta Platforms also fell.
Chip heavyweight Nvidia, however, bucked the. megacap slide, rising after dropping almost 5% in the previous. session.
Gains in the so-called Magnificent Seven group of tech. stocks have driven most of Wall Street's record-breaking run. this year. However, with assessments increasingly stretched and a. brighter economic outlook, financiers have been looking for. chances elsewhere.
Energies led sectoral gains, with Rule. Energy's increase amongst the drivers after it was one of. the power companies with which Amazon.com announced. agreements for establishing nuclear innovation to power data. centers.
Among the best-performing S&P sectors year to date, Piper. Sandler's Kantrowitz said he stays bullish on energies as. they gain from both the higher power demand coming from AI,. however likewise the lower interest rate environment.
The financially delicate Transportation index jumped,. lifted by United Airlines after it forecast. better-than-expected fourth-quarter revenue and revealed a. $ 1.5-billion share buyback program on Tuesday.
Delta Air Lines and American Airlines also. benefited.
Attention now turns to more corporate profits are due. through the week, in addition to key financial data including the. retail sales and commercial production figures for September on. Thursday.
(source: Reuters)