Latest News
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Indian EV maker Greaves Electric Movement submits IPO papers
Indian electricvehicle maker Greaves Electric Mobility prepares to raise 10 billion rupees ($ 117.5. million) through a going public, according to the. draft papers it filed on Monday. Greaves Electric is known for its 'Ampere' brand of. e-scooters and also makes three-wheelers under a. different brand. The company's leading investor-- publicly noted Greaves. Cotton-- and investment group Abdul Latif Jameel Green. Mobility Solutions will sell around 189.4 million shares through. the IPO. Greaves Electric joins larger rival Ather Energy. in hopping onto India's primary problem bandwagon, with profits. more than doubling year-on-year to $17.5 billion by mid-December. this year, according to data compiled by LSEG. Ola Electric Mobility's IPO, the first by a. pure-play Indian EV maker, saw investors bid for 4.3 times the. shares available. Greaves Electric plans to invest the IPO proceeds into. product research study and development and construct battery assembly. capabilities, with a smaller part allocated to increase. producing capability. Prior to the concern, Greaves Cotton owned a 62.5% stake in. Greaves Electric, with Abdul Latif Jameel Green Movement. Solutions owning the rest.
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Black Sea oil spill volunteers in Russia ask Putin to send immediate aid
Volunteers helping to clean up a significant oil spill along Russia's Black Sea coast appealed in a video released on Monday for President Vladimir Putin to urgently send out federal aid, stating that they and local authorities were overwhelmed. The contamination, which has coated sandy beaches at and around Anapa, a popular summer season resort, has actually triggered serious issues for seabirds and everything from dolphins to cetaceans. The oil is from two ageing tankers hit by a storm on Dec. 15. Among the vessels split in half, while the other ran aground. On Thursday, Putin called the incident an ecological catastrophe and authorities from Russia's Emergency Situations Ministry say over 10,000 individuals are now involved in the clean-up. However a group of around 30 regional volunteers, who recorded their appeal on a beach strewn with sacks full of polluted sand, told Putin and Prime Minister Mikhail Mishustin that they thought the scale of the disaster was too huge for local authorities to cope and demanded Moscow send urgent aid. The regional authorities do not have the expert resources and technical methods to neutralise the consequences of such a large-scale catastrophe and have been required to compensate for the absence of manpower by utilizing volunteers with shovels, a. spokesperson for the group said, reading out a list of demands. He said professional clean-up workers required to be sent in. in addition to scientists specialising in contamination and. veterinarians to deal with seabirds. Russia, he stated, should also. attract other nations for assist with equipment. This is a cry from the soul. Such a catastrophe can not be. defeated with shovels, a female volunteer added in the same. video appeal. Alexander Kozlov, the minister for natural deposits and. ecology, checked out Anapa on Monday to oversee the clean-up and. stated that 366 products of equipment were being used in the. operation. State television said 40 km (25 miles) of coastline had already been. cleaned, but Kozlov stated the weather were hard. which oil was still washing up on beaches in spite of the. erection of barriers at sea to try to keep it from the coast. Scuba divers were due to examine among the tankers that entered into. problem on Dec. 15 to see if it was still leaking oil. State TV stated six dead dolphins had washed up on the coast. in the last 24 hr which an over night storm had actually ripped open. sacks loaded with polluted sand gathered by volunteers.
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Brazil airline company Gol upbeat on capacity as Boeing delivers new 737 MAXs
Brazilian airline company Gol is ending 2024 with good prospects for including capacity to its network, Chief Executive Celso Ferrer told Reuters, as planemaker Boeing delivered brand-new 737 MAX aircraft this month after long hold-ups. Gol, which is under insolvency defense in the United States, received three MAXs in December and expects to get another one in January, finally reaching the mark of 53 airplane it had actually hoped to strike a year ago. The carrier applied for Chapter 11 in early 2024, struck by a. fall in traffic due to COVID and delays in Boeing shipments. Earlier this month, it said it would submit a preliminary proposed. reorganization plan with a U.S. court. The shipment of these brand-new airplane will reinforce our. operation. Our focus now is to take advantage of the potential of. our current fleet, Ferrer stated. The new aircraft, at first slated for delivery early in the. second half of this year, represent a financial investment of around 1. billion reais ($ 163 million), the executive added. Airlines have been eager to include capability in order to satisfy. robust travel demand and restore their fleets to cut expenses, however. planemakers have actually been facing supply chain bottlenecks. and production disturbances. Boeing was specifically hit in 2024 with extra problems,. consisting of a seven-week strike, production security issues and. increased regulatory examination. The strike affected our plans, but we handled to overcome. it with short-term solutions, Ferrer stated, adding that Gol. increased capacity by 6.7% year-on-year in the third quarter. When the strike ended, Boeing managed to maintain the. shipment of 4 airplane in the short term, but there are still. unpredictabilities about the medium and long terms. The brand-new airplanes will reinforce Gol's operations in the. Brazilian high season and allow it to keep expanding its. worldwide network after adding destinations such as Bogota,. San Jose, Aruba and Cancun in 2024. We want to have more news to reveal in 2025 in our. global network, Ferrer stated, dubbing it a crucial focus for. the coming years. Gol, whose fleet is made up completely of 737s, is the largest. operator of Boeing aircraft in Latin America. The shipment. hold-ups seriously constrained the carrier's growth in 2023. Embraer and the Brazilian federal government this year. revealed the regional planemaker had held speak to potentially sell. its local airplane to Gol. Asked about the conversations, Ferrer kept in mind that Gol has. always operated only 737 aircraft which standardization has. been a vital part of the carrier's company model, but is. always examining options for other models.
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After Trump danger, Mexican president says Panama Canal belongs to Panamanians
Mexican President Claudia Sheinbaum revealed support for Panama's federal government on Monday after U.S. Presidentelect Donald Trump threatened to reassert U.S. control over the Panama Canal on Sunday. Undoubtedly, the Panama Canal belongs to the Panamanians, Sheinbaum stated, speaking during her routine early morning press conference. Sheinbaum's comments came one day after Trump accused Panama of charging excessive rates to use the Main American passage while speaking with a crowd of supporters in Arizona. After the event, he published an image on Reality Social of an American flag flying over a narrow body of water, with the comment: Invite. to the United States Canal! Trump's comments were an exceedingly rare example of a. U.S. leader saying he could press a sovereign country to hand. over area. Panamanian President Jose Raul Mulino swiftly denounced. Trump's comments. Every square meter of the Panama Canal and the. surrounding location comes from Panama and will continue belonging. ( to Panama), Mulino said in a statement released on X.
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Rome finishes marquee project in contentious city overhaul for Catholic Holy Year
Rome has actually finished the most ambitious of thousands of building and construction works that have disrupted life in the Eternal City in preparation for the millions of travelers expected throughout the 2025 Catholic Holy Year that starts this week Mayor Roberto Gualtieri opened a major new roadway junction near the Vatican on Monday, marking completion of an 85 million euro ($ 88.4 million) centrepiece project amongst 3,200 public building works ahead of the Holy Year, otherwise known as the Catholic Jubilee. The brand-new underpass near the medieval Castel Sant' Angelo. redirects traffic underground and produces a pedestrian zone from. the Tiber River towards St. Peter's Basilica, the centre of. Catholicism and one of the world's most visited tourist sites. The craze of work, nevertheless, has actually irritated citizens and left. some visitors feeling short-changed in current months due to the fact that. lots of tourist destinations have actually lagged scaffolding. The Vatican anticipates 32 million tourists to descend on the. Italian capital for the Holy Year, which will be opened by Pope. Francis during Christmas Eve Mass at St. Peter's on Tuesday and. will run up until Jan. 6, 2026. The very first Holy Year was declared in 1300 as a chance. for pilgrims pertaining to Rome to get unique indulgences, or. remission of their sins. The occasion now usually takes place every 25. years and is thought about a time of peace, forgiveness and pardon. Gualtieri said building employees, who began the. underpass in August 2023, worked 24 hr a day for 450 days to. win a race versus time to complete it on schedule. The Jubilee will now give Rome a brand-new beautiful public. square, he informed press reporters. Under the new design, much of the Via della Conciliazione,. the main boulevard leading towards the Vatican, will end up being a. traffic-free pilgrims' path expected to be strolled by as much as. 100,000 travelers daily. Beyond the new road construction, Rome has actually pooled 3.7 billion. euros of state and European funds to revamp traveler sites,. parks and even rubbish bins. The Trevi Fountain has actually likewise been brought back and was resumed on. Sunday.
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Brazil's Petrobras to sign offer for four new assistance vessels built locally
Brazil's Transpetro, a system of staterun oil company Petrobras, stated on Monday that regional shipbuilding firms Ecovix and Mac Laren had won a tender to develop four new coastal vessels for $69.5 million per vessel. WHY IT is necessary The quote is the first step of Petrobras' strategy to renew its fleet of support vessels, and is a win for Brazil's federal government as it seeks to renew the country's shipbuilding sector. ESSENTIAL QUOTE It is a milestone for our management to resume the acquisition of ships in Brazil after ten years without contracting vessels to expand the fleet, stated Transpetro Chief Executive Sergio Bacci in a declaration. CONTEXT The 4 'helpful' class vessels will have capacity of 15,000 to 18,000 deadweight tonnage. They become part of the company's plan to commission 25 new ships, with 16 currently listed in Petrobras' tactical plan for the 2025-2029 period. WHAT'S NEXT Transpetro said it is set to release a 2nd tender in January for 8 pressurized and semi-refrigerated gas tankers.
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Rome completes marquee task in contentious city overhaul for Catholic Holy Year
Rome has actually completed the most ambitious of thousands of building and construction works that have actually disrupted daily life in the Eternal City in preparation for the millions of travelers anticipated throughout the 2025 Catholic Holy Year that starts this week Mayor Roberto Gualtieri opened a significant new roadway junction near the Vatican on Monday, marking completion of an 85 million euro ($ 88.4 million) centrepiece task among 3,200 public building and construction works ahead of the Holy Year, otherwise called the Catholic Jubilee. The brand-new underpass near the medieval Castel Sant' Angelo. reroutes traffic underground and produces a pedestrian zone from. the Tiber River toward St. Peter's Basilica, the centre of. Catholicism and among the world's most checked out traveler sites. The frenzy of work, nevertheless, has irritated residents and. left some visitors feeling short-changed in current months. since lots of tourist destinations have lagged scaffolding. The Vatican anticipates 32 million tourists to descend on the. Italian capital for the Holy Year, which will be opened by Pope. Francis during Christmas Eve Mass at St. Peter's on Tuesday and. will run until Jan. 6, 2026. The very first Holy Year was announced in 1300 as an opportunity. for pilgrims coming to Rome to acquire unique extravagances, or. remission of their sins. The occasion now usually happens every 25. years and is considered a time of peace, forgiveness and pardon. Gualtieri said construction employees, who started the. underpass in August 2023, worked 24 hours a day for 450 days to. win a race against time to finish it on schedule. The Jubilee will now give Rome a brand-new stunning public. square, he informed reporters. Under the brand-new layout, much of the Via della Conciliazione,. the main boulevard leading towards the Vatican, will become a. traffic-free pilgrims' course anticipated to be walked by as much as. 100,000 travelers daily. Beyond the new road building, Rome has pooled 3.7 billion. euros of state and European funds to upgrade tourist websites,. parks and even rubbish bins. The Trevi Fountain has also been brought back and was resumed on. Sunday.
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What happens when Russian gas to Europe by means of Ukraine stops?
Russian President Vladimir Putin fulfilled Slovak Prime Minister Robert Fico in the Kremlin on Sunday, an uncommon visit by a European Union leader to Moscow as a. agreement allowing for Russian gas to transit through Ukraine. nears expiration. Ukrainian President Volodymyr Zelenskiy had stated on Thursday. that Kyiv might think about continued transit of Russian gas, but. just on condition that Moscow did not receive payment up until. after the war - a condition it was unlikely to accept. Putin. said that day that it was clear there would be no new deal with. Kyiv to send out Russian gas through Ukraine to Europe. Here is what happens if Russian gas transit by means of Ukraine is. totally shut off and whom will be impacted most. HOW BIG ARE THE VOLUMES? Russian gas products to Europe by means of Ukraine are fairly. little. Russia shipped about 15 billion cubic metres (bcm) of gas. by means of Ukraine in 2023 - only 8% of peak Russian gas flows to. Europe through different paths in 2018-19. Russia invested half a century developing its European gas market. share, which at its peak stood at 35%. Moscow has lost its share to rivals such as Norway, the. United States and Qatar given that the Russian invasion of Ukraine in. 2022, which spurred the EU to cut its dependence on Russian gas. EU gas costs rallied in 2022 to record highs after the loss. of Russian materials. The rally will not be repeated offered modest. volumes and a little number of consumers for the staying. volumes, according to EU authorities and traders. UKRAINIAN PATH The Soviet-era Urengoy-Pomary-Uzhgorod pipeline brings gas. from Siberia by means of the town of Sudzha - which is now under control. of Ukrainian military forces - in Russia's Kursk area. It then. flows through Ukraine to Slovakia. In Slovakia, the gas pipeline divides into branches going to. the Czech Republic and Austria. Russia's general gas exports via the path have held. constant regardless of the blockage of flows from Gazprom to Austria's OMV in. mid-November over a contractual conflict, and legal wranglings as. other buyers stepped in to buy the volumes. Austria still gets most of its gas via Ukraine, while. Russia accounts for around two-thirds of Hungary's gas imports. Slovakia takes around 3 bcm from energy huge Gazprom. each year, also about two-thirds of its requirements. The Czech Republic practically totally cut gas imports from. the east in 2015, but began taking gas from Russia in 2024. Most other Russian gas paths to Europe are shut consisting of. Yamal-Europe through Belarus and Nord Stream under the Baltic. The only other functional Russian gas pipeline path to. Europe is the Blue Stream and TurkStream to Turkey under the. Black Sea. Turkey sends out some Russian gas volumes onward to. Europe including to Hungary. WHY DOES THE UKRAINIAN ROUTE STILL WORK? While staying Russian gas transit volumes are little, the. issue stays a problem for the EU. Lots of EU members such as. France and Germany have said they will not purchase Russian gas. anymore however the stance of Slovakia, Hungary and Austria, which. have closer ties to Moscow, challenges the EU typical technique. The nations, who still get Russian gas, argue it is. the most economic fuel and likewise blame neighbouring EU countries. for high transit costs imposed on alternative materials. Ukraine still makes $0.8-$ 1 billion in transit fees each year. from Russian gas transit. According to Reuters computations, Gazprom's total. pipeline gas exports to Europe by means of all paths in 2024 have. increased to 32 bcm from 28.3 bcm in 2023, when they collapsed. to the most affordable level since the 1970s. Russia could make around $5 billion on sales by means of Ukraine. this year based on a typical Russian federal government gas price. forecast of $339 per 1,000 cubic metres, according to Reuters. estimations. Russia's gas pipeline export monopoly Gazprom plunged to a. net loss of $7 billion in 2023, its very first annual loss given that. 1999, because of the loss of EU gas markets. Russia has said it would be prepared to extend the transit offer. however Kyiv has consistently stated it will not do it. Another alternative is for Gazprom to provide a few of the gas through. another path, for instance via TurkStream, Bulgaria, Serbia or. Hungary. Nevertheless, capability via these paths is limited. Hungary has actually been eager to keep the Ukrainian path open, but stated it. would continue to get Russian gas from the south, by means of the. TurkStream pipeline on the bed of the Black Sea. The EU and Ukraine have also asked Azerbaijan to help with. discussions with Russia regarding the gas transit offer. A senior source at Azeri energy business SOCAR informed Reuters. on Friday that Moscow and Kyiv have failed to settle on the deal. brokered by Azerbaijan to continue Russian gas exports to Europe. through Ukraine.
Russia's Rusagrotrans forecasts record high wheat exports in 2024/25 season first half
Russia will export a record 29.4 million metric tons of wheat in the very first half of the 2024/25 exporting season, experts from rail carrier Rusagrotrans stated on Monday, after raising their December export quote.
The country has actually exported wheat at a record speed, in spite of low global rates in the existing exporting season, ahead of the intro of a quota on Feb. 15 that becomes part of steps to improve domestic supply and fight inflation, presently at 9.5%.
For the 2nd half of the season from Feb. 15 to June 30, the government has set the wheat and meslin export quota at 10.6 million heaps.
Rusagrotrans raised its December export price quote to 3.7-3.8. million loads from 3.4-3.5 million loads, listed below last year's volume. of 4.06 million heaps. The estimate consists of exports to ex-Soviet. nations forming the Eurasian Economic Union (EEU).
In the first half of the 2023/24 exporting season, Russia. exported 27.7 million lots. Russia approximates this year's wheat. harvest at 83 million lots, below 92.8 million in 2023.
(source: Reuters)