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).
Trump's renewed trade war with China clouds IMF and World Bank meetings
The U.S. President threatened 100% tariffs on Chinese imports, sending the markets into a tailspin. Questions about whether Trump's threat to retaliate for China's dramatic expansion of export controls on rare Earths will lead to a full-blown war between the two world's largest economies are likely to dominate the annual meetings of the International Monetary Fund (IMF) and World Bank.
Washington and Beijing reached a delicate truce over the last five months, which brought down tariffs from triple-digits and led to an upgrade of the IMF's outlook for global growth. Trump's plans to meet Chinese President Xi Jinping in the latter part of this month fueled hope for a further thaw.
This optimism was dashed on Friday when Trump threatened to cancel this meeting and impose "massive increases" in tariffs against Chinese goods. He also announced other countermeasures. China's decision on Friday to charge the same port fees as the U.S. for vessels built in China or owned by Chinese companies, or by companies owned by more than 25% U.S. investment funds.
More than 10,000 people, including finance and central bank governors of more than 190 nations, will attend the IMF and World Bank Meetings in Washington.
Martin Muehleisen is a former IMF strategist who now works for the Atlantic Council. He said that Trump's threats could be a way to gain leverage in negotiations, but they would inject volatility into this week's proceedings.
"Let's pray that sanity will prevail." Muehleisen warned that if Trump returns to 100% tariffs, he will face a lot more pain on the markets. Trump's Friday threat triggered the largest U.S. share sell-off since months. This was at a moment when investors and policymakers were already becoming anxious about an artificial intelligence investment boom that could harm future employment.
Muehleisen stated that while China does have some leverage with Trump because of its global dominance over rare earths which are vital for manufacturing tech, it would not be in Beijing's best interest to return to a world of triple-digit duties.
Scott Bessent, the U.S. Treasury secretary who has led U.S. China trade talks, is not expected to meet any Chinese officials in Washington this week. A Treasury spokesperson declined comment on Bessent’s bilateral meeting schedule.
GROWTH PROSPECTS HOLD UP
Kristalina Georgeeva, IMF's Managing Director, had praised the global economy for its ability to handle multiple shocks. She cited a number of factors, including the slowing U.S. jobs market, the rising debt level, and the rapid changes brought about by AI adoption. Georgieva stated last week, in a preview to the IMF World Economic Outlook forecasts that are due on Tuesday: the global GDP growth for 2025 will be just slightly lower than the 3.3% rate of 2024. The IMF raised its GDP growth forecast for 2025 by two tenths of one percentage point in July, based on lower tariff rates than originally feared. This included the U.S. China duties.
In an interview, Georgieva said: "We are witnessing a world of demonstrable resilience." "But we also say it's a time when there is exceptional uncertainty and downside risks still dominate the forecast." Watch it and don't become too comfortable.
G7 FOCUS RUSSIA
The Group of Seven Industrial Democracies' finance ministers will meet on Wednesday in order to discuss ways to increase sanctions on Russia to end the war that Moscow is fighting against Ukraine.
According to a British government source, finance minister Rachel Reeves wants to ensure that G7 and European Union nations take joint action to reduce Russia's revenues from energy and to gain access to assets overseas that are compliant with international law. G7 ministers are expected to discuss a plan by the European Union to use frozen Russian sovereign assets as collateral for a loan to Ukraine of 162 billion euros.
BESSENT'S AGENDA for Institutions
The U.S. will have a large presence at the meetings, from the tariff discussions to Bessent’s call for the IMF to withdraw from climate change and gender issues and focus on its core mission of financial stability. Dan Katz, IMF's No. 2 official, will make his public debut at the meetings. 2 official. The member countries will watch to see if Katz, the former investment banker and Bessent's chief staff, can carry out the agenda of U.S. Treasury Chief, which calls for stronger IMF critique of China's government-led economic policies. The U.S. Treasury’s market intervention in favor of Argentina, IMF’s largest borrower will also take center stage during the meetings, as Argentine's libertarian right-wing president Javier Milei, will join Trump, his ally, two blocks away, at the White House, on Tuesday. Georgieva welcomed the move to keep Argentina's reforms based on market principles on track.
Muehleisen said that the Fund could be pushed to implement Trump's geopolitical objectives - increasing pressure on China, and possibly extending more assistance to U.S. Allies such as Argentina, without adequate reforms.
Is it still a multilateral, global organization or is it more like an appendage to the U.S. Treasury? Treasury?" "Treasury?" This will be a fascinating debate," he said. (Reporting and editing by Dan Burns, Paul Simao and Dan Burns; additional reporting by Andrea Shalal, David Milliken and David Lawder)
(source: Reuters)