Latest News
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Ukraine steps up air defence advancement in response to Russian rocket implementation, Zelenskiy states
President Volodymyr Zelenskiy stated on Friday that Ukraine was dealing with establishing brand-new types of air defence to counter brand-new threats following Russia's release of a new mediumrange rocket in the 33month war. Zelenskiy, in his nighttime video address, stated testing a brand-new weapon for purposes of terror in another country was an worldwide criminal activity and provided a brand-new call for a world-wide severe response to keep Russia from broadening the war. On my behalf, the Minister of Defence of Ukraine is currently holding meetings with our partners concerning brand-new air defence systems efficient in protecting lives from new dangers, Zelenskiy said. When somebody starts utilizing other countries not just for terror, however likewise for evaluating their brand-new missiles through acts of horror, then this is clearly a worldwide crime. He stated the world required to come up with a major reaction so that (Russian President Vladimir) Putin will truly be afraid to expand the war and feels the real consequences of his actions. Zelenskiy gotten in touch with Ukrainians to be vigilant in the face of ongoing Russian attacks. There is no other way in war, he stated. We need to be mindful that 'associate' Putin will keep trying to intimidate us. That is how he developed all his power.
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In Mali, at least seven Russian mercenaries were killed
Site Intelligence Group said that at least seven mercenaries of the Wagner private military contractor group from Russia were killed in a central Mali attack, which was claimed by a group affiliated with al Qaeda North Africa. Wagner suffered heavy losses during a battle in July with mainly Tuareg rebels, and Islamists at the border of Mali with Algeria. This battle exposed the dangers that mercenaries who work for military juntas face in West Africa’s Sahel Region. Mali, Burkina Faso, and Niger struggle to contain powerful Islamic State and Al Qaeda offshoots that have occupied large swathes in the Sahel region over the last 12 years. SITE Intelligence Group, which monitors extremist activity in the region said in a press release that al Qaeda affiliate JNIM had claimed responsibility for Thursday's attack. SITE reported that JNIM had killed seven Russian Wagner mercenaries, and also seized weapons. The video shown by showed the bodies of at minimum five white men dressed in army fatigues, lying around a vehicle after an attack. The authenticity of the video could not be verified. The photos shared by SITE Intelligence, purportedly taken from JNIM, showed dead soldiers with blood on their bodies and several boxes of ammunition and arms. No one could be reached to comment on the army of Mali. Two local administrators confirmed that the attack took place. A Malian army officer said he had seen seven bodies, including Russian fighters. One of them claimed that five Wagner fighters had been killed. According to a consultant who works on security in the area, the attack was carried by Katiba-Macina, an offshoot of JNIM. At least six Russians were killed. The consultant claimed that the Russians were Africa Corps soldiers, referring to the paramilitary Kremlin force which has replaced Wagner's forces in Africa during the last year. Mali previously stated that Russian forces in the country are not mercenaries, but rather trainers who help local troops with equipment purchased from Russia. Reporting by Tiemoko Diallo, Abdollah A. Ag. Mohamed, and Portia Crowe; Additional reporting in Cairo by Yomna ehab; Writing by Anait Miridzhanian; Editing by Bate F. Felix, Sofia Christensen, and Angus MacSwan
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US energy infrastructure firms to record record profits as AI power demand soars
Investors are betting on the long-term growth of energy-guzzling technologies like generative AI to fuel demand. They also hedge against the volatility in commodity markets. Alerian Midstream Energy Index (which tracks North American major pipeline and storage companies) is up 46% in this year, after reaching a record high last March. Comparatively, the S&P 500 index has gained nearly 25% during the same time period. Kinder Morgan, Targa Resources and Williams Co are on course for their best years in the last two decades. Kenny Zhu is a research analyst for Global X ETFs in New York, a provider of exchange traded funds. The fixed-fee structure of energy infrastructure firms shields them against the volatile oil and gas price fluctuations, while also benefiting from the surge in U.S. production. Experts say that small investors are also attracted by dividends and buybacks, which result from stable cash flow. Artificial intelligence's explosive growth and the data center's insatiable need to run these power-hungry apps has boosted the appeal of this segment. Rob Thummel is a senior portfolio manager with asset management company Tortoise. He said, "There is no artificial intelligence without the energy infrastructure. AI needs power 24 hours per day, 7 days per week." In the second half of this decade, pipeline demand will be further increased by several liquefied gas export projects. In the U.S. however, it is difficult to build new large-scale pipes due to regulatory obstacles. Existing infrastructure becomes even more valuable. If you already have pipelines, you are in a good position because they will become even more valuable with the continued growth of demand, said Zack Van Everen.
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Italy frets over fate of porn star jailed in Egypt
The arrest of an ItalianEgyptian pornographic star in Cairo is raising concern amongst officials in Italy, where feelings are still running high over the unsettled killing of trainee Giulio Regeni who was jailed and eliminated in Egypt eight years back. Elanain Sherif, 44, known by his phase name of Sheri Taliani, was gotten at Cairo airport on Nov. 9 and taken to prison with no official explanation, his legal representative stated on Friday, confirming reports in Italian papers. Online publication of porn is unlawful in Egypt, and Sherif's legal representative, Alessandro Russo, told Reuters this might have been the reason for the arrest, though he had gotten no notice from the Egyptian authorities. The Egyptian foreign ministry did not instantly react to a request for a remark. Italian Foreign Minister Antonio Tajani stated the government and Italy's embassy in Cairo were following the case with the utmost attention. Sherif was moved from a Cairo jail to another penitentiary near Alexandria a few days after his arrest and has not been become aware of because, the legal representative said, including that the last individual known to have seen him was his mother, the day after he was apprehended. Sherif was born in Egypt but resides in Italy and holds both Egyptian and Italian passports. Russo stated he was trying to contact an Egyptian attorney appointed by Sherif's mother, who had accompanied him to Egypt. From Italy we can only attempt to verify that Elanain Sherif is being treated well, the Egyptian lawyer will take care of the case there, he said. It's clear that we are believing with concern about the cases of Giulio Regeni and Patrick Zaki. Italy has actually charged 4 Egyptian security agents with kidnapping and eliminating Regeni, a postgraduate trainee at Britain's Cambridge University, in Cairo in 2016. Egyptian police detained him because they believed he was a. British spy, according to Italian district attorneys, while Egypt. blamed the killing on a group of gangsters after initially. recommending he had died in a roadway accident or in a sex attack. Zaki, an Egyptian researcher who had been studying in Italy,. was arrested during a journey home to Egypt in 2020. In 2015 he. gotten a pardon from the Egyptian president a day after he was. handed a three-year jail term on charges of spreading false. news.
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Czechs not aiming to extend waiver for Russian-based oil items
The Czech Republic is not wanting to extend an EU exemption permitting it to import diesel and other products made from Russian oil, its industry and trade ministry said on Friday, taking a position that might end such imports from neighbouring Slovakia. The European Union prohibited most oil imports from Russia after the nation's major invasion of Ukraine in 2022. But the Czech Republic, Slovakia and Hungary are utilizing an exemption to sanctions since of a lack of other supply. A waiver also permits the Czechs to import Russian oil-based improved products, which come generally from Slovnaft, a Slovakian unit of Hungarian oil and gas group MOL. But that ends on Dec. 5, and the Czechs are not seeking an extension, the ministry said. In the context of the present situation and steps that Czechia is requiring to protect independence from imports of oil from Russia, the Czech Republic does not see a reason why the exemption ought to be extended, the ministry informed Reuters. The Czech Republic has actually been upgrading a pipeline from Italy to Germany to transfer more oil that method and wean itself totally off Russian crude by the 2nd half of 2025. Slovakia, on the other hand, does not prepare to end Russian oil supply quickly. It is also seeking the derogation enabling item shipments to the Czech Republic be extended, Slovak Foreign Minister Juraj Blanar has actually stated. The Slovak ministry on Friday declined to comment beyond what Blanar has actually previously stated. The Czech position does not dismiss an extension, as there might be additional talks amongst parties consisting of Poland, whose Orlen owns the Czech Republic's only 2 refineries, 2 Czech federal government sources stated. One source said one option might be an extension till June 2025, when the Czechs anticipate to end their own purchases of Russian crude. A unanimity of EU members is needed to extend the waiver. The 2 sources said the Czech Republic might replace any reduction in Slovnaft fuel products by rail from other sources. Slovnaft has also been raising its proportion of non-Russian crude. Its annual report stated it processed 0.82 million tonnes of non-Russian crude in 2023, 15% of the overall.
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Bomb team sent out to London's Gatwick Airport as terminal left
British authorities sent out a bomb disposal group to London's Gatwick Airport after a thought forbidden item was discovered in baggage, authorities said on Friday, following the earlier evacuation of a passenger terminal. Gatwick, Britain's second busiest airport which is located about 30 miles south of London, stated earlier it had actually left a. large part of its South terminal, mentioning a security event. The occurrence disrupted weekend itinerary for countless. passengers, with more than 600 flights due to land or remove. on Friday from Gatwick, totaling up to more than 121,000 guest. seats, according to information from aviation analytics firm Cirium. Sussex Police, the local force, said a security cordon would. stay in location while the matter is dealt with. Cops were contacted us to the South Terminal at Gatwick Airport. at 8.20 am on Friday following the discovery of a thought. forbidden product in travel luggage, it said in a declaration. As a safety measure, an EOD (Explosive Ordnance Disposal) group. is being deployed to the airport. Airport authorities said on X that passengers were being. stayed out of the structure while the incident was ongoing, while. cops stated there was significant traffic interruption in the area. and advised individuals to prevent it. In videos posted online, thousands of travelers can be seen. outside the terminal and the surrounding location. Emergency foil. blankets were distributed to some of the passengers to assist. shield themselves from the cold, social media photos revealed. In a separate incident previously on Friday, London police. carried out a regulated explosion near the U.S. embassy in. south London after discovering a suspect bundle. Police later. stated they believed it was a scam.
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Asian area LNG gains amidst cooler weather condition, more powerful Europe gas costs
Asian spot melted gas (LNG) rates increased today to their greatest level of the year so far, tracking gains in European gas and amidst colder temperatures in both regions. The average LNG rate for January shipment into northeast Asia rose to $14.60 per million British thermal systems ( mmBtu), market sources estimated. Today's more escalations in between Russia and Ukraine have returned a high danger premium to European gas and by default Asia's JKM market, regardless of actual gas products being continuous, said Florence Schmit, energy strategist at Rabobank London, of the Asian Japan-Korea-Marker benchmark. European benchmark gas costs at the Dutch TTF hub have been trading at 1 year highs on issues over Russian gas supply and as cold temperatures reduced gas stockpiles. Russia's Gazprom last weekend halted gas supplies to Austrian gas importer OMV in a dispute over payments, while Russia's war with Ukraine heightened. While the danger of Europe losing more Russian gas has lifted the TTF consistently above the JKM market for the very first time considering that end-2022, the spread remains narrow and might reverse to a JKM premium in the short-term if Russian circulations continue and the circumstance stabilises, added Schmit. However provided the accumulation of fighting today we might equally see the TTF maintain its premium over the JKM for a while as Europe scrambles to import LNG freights. In either case, markets will be higher for longer. A minimum of 5 LNG cargoes have actually diverted from Asia to Europe on greater gas prices after Gazprom halted products to OMV. However northeast Asian delivered markets have risen in competition with Europe, with a minimum of one diverted provider appearing to have changed back to head for Asia again, said Samuel Good, head of LNG prices at product rates agency Argus. In Japan, while lower temperatures have actually just recently resulted in greater gas usage and power prices, nuclear restarts could decrease dependence on gas-fired power generation and ease LNG need, stated Rystad Energy in a note. It included that the Japan Meteorological Firm still projections a 50-60% likelihood of above-average temperatures till Nov. 29. On The Other Hand, S&P Global Commodity Insights assessed its day-to-day North West Europe LNG Marker (NWM) price standard for freights delivered in January on an ex-ship (DES) basis at $14.800/ mmBtu. on Nov. 21, a $0.25/ mmBtu discount rate to the January gas rate at. the Dutch TTF center. Argus examined the price at $14.790/ mmBtu, while Spark. Commodities examined the December shipment cost at. $ 14.635/ mmBtu. The U.S. arbitrage, diverting a physical cargo from one. market to another, is signalling prompt month U.S. cargoes are. incentivised for a ninth straight week to trip to Northwest. Europe, said Glow Commodities analyst Qasim Afghan. Nevertheless, it is much more minimal than recently due to. a significant week on week increase in the JKM-TTF spread, as. well as record low freight rates in the Atlantic basin, he. added. In LNG freight, Atlantic rates fell to $15,500/ day on. Friday, erasing gains made in the last two weeks, Afghan. stated. Pacific rates decreased to $23,000/ day.
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Asian area LNG gains in the middle of cooler weather, stronger Europe gas rates
Asian area liquefied natural gas (LNG) rates rose this week to their highest level of the year so far, tracking gains in European gas and in the middle of cooler temperature levels in both areas. The average LNG price for January delivery into northeast Asia rose to $14.60 per million British thermal systems ( mmBtu), industry sources approximated. This week's additional escalations between Russia and Ukraine have returned a steep threat premium to European gas and by default Asia's JKM market, regardless of actual gas supplies being continuous, stated Florence Schmit, energy strategist at Rabobank London, of the Asian Japan-Korea-Marker standard. European benchmark gas prices at the Dutch TTF center have been trading at 1 year highs on concerns over Russian gas supply and as cold temperature levels decreased gas stockpiles. Russia's Gazprom last weekend stopped gas supplies to Austrian gas importer OMV in a disagreement over payments, while Russia's war with Ukraine heightened. While the danger of Europe losing more Russian gas has lifted the TTF regularly above the JKM market for the first time since end-2022, the spread remains narrow and could turn back to a JKM premium in the short-term if Russian flows continue and the circumstance stabilizes, included Schmit. However offered the increase of combating this week we might equally see the TTF preserve its premium over the JKM for a while as Europe scrambles to import LNG freights. In any case, markets will be greater for longer. At least 5 LNG cargoes have actually diverted from Asia to Europe on greater gas costs after Gazprom halted supplies to OMV. But northeast Asian provided markets have risen in competitors with Europe, with at least one diverted carrier appearing to have switched back to head for Asia once again, said Samuel Good, head of LNG pricing at commodity rates firm Argus. In Japan, while lower temperatures have actually recently caused higher gas intake and power rates, nuclear restarts could lower reliance on gas-fired power generation and ease LNG need, said Rystad Energy in a note. It included that the Japan Meteorological Company still projections a 50-60% likelihood of above-average temperature levels until Nov. 29. Meanwhile, S&P Global Product Insights examined its day-to-day North West Europe LNG Marker (NWM) price benchmark for cargoes provided in January on an ex-ship (DES) basis at $14.800/ mmBtu. on Nov. 21, a $0.25/ mmBtu discount to the January gas price at. the Dutch TTF center. Argus assessed the price at $14.790/ mmBtu, while Spark. Products assessed the December shipment cost at. $ 14.635/ mmBtu. In LNG freight, Atlantic rates fell to $15,500/ day on. Friday, erasing gains made in the last 2 weeks, stated Glow. Products expert Qasim Afghan. Pacific rates declined to. $ 23,000/ day.
British Business - Aug 21
The following are the leading stories on business pages of British papers. Reuters has not verified these stories and does not attest their precision.
The Times
- Nearly 1 billion pounds ($ 1.30 billion) was rubbed out the stock exchange value of BT Group after Sky struck a deal with among its most significant competitors to provide fibre broadband to homes throughout Britain.
The Guardian
- Rachel Reeves is planning to raise taxes, cut costs and get tough on advantages in October's spending plan amid Treasury alarm that the pickup in the economy has actually failed to enhance the bad state of the general public financial resources.
- UK residents taking a trip to the EU next summer season will need to pay a 7 euro ($ 7.78) visa-waiver charge after the EU exposed its timeline for the intro of new border checks and entry requirements for some visitors.
The Telegraph
- Labour-run Newham Council is considering legal action against the federal government after Angela Rayner gave London City Airport the thumbs-up to fly millions of extra guests a. year.
Sky News
- A pilot scheme scrapping peak-time ScotRail fares will end. next month following a limited degree of success.
(source: Reuters)