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Xi calls on China to improve disaster prevention after floods and landslides hit the country
After a series of deadly floods this summer, Chinese President Xi Jinping urged the country to improve its?ability? to prevent, reduce and respond to?natural?disasters. Xi made his remarks on 'Saturday' in Qiushi - a 'journal central to Communist Party messaging. They follow China's most powerful typhoon of the year, and a series landslides which killed dozens. This highlights the increasing impact of extreme weather conditions on the second largest economy of the world. According to an article, "Global warming is causing extreme weather events, such as floods, typhoons and droughts. Their destructive effects are intensifying." Xi stated. The article cited Xi's call for a shift to pre-disaster preparation, stronger monitoring and early warning systems, as well as efforts to fill in gaps in flood control and drainage infrastructure in the north of China. The article cited Xi's remarks from a speech he delivered on April 28 at a Politburo Study Session. The capital of China was hit by the strongest typhoon of this year, which brought torrential rains that inundated roads and left vehicles stranded. In the northwest, flash floods caused landslides in Gansu Province that killed 25 people. And in Chongqing, in southwest China, a mountain collapsed and led to another landslide, which left 51 dead. China has been battling more destructive weather that scientists have linked to climate change. This is especially true this year as an emerging "El Nino" pattern boosts temperatures, fueling more frequent and fierce typhoons. Xi stated that China would "continuously improve its ability and level of response to natural disasters and effectively safeguard the lives and properties of the people as well as social stability" Xi warned that disaster risks'must be prevented from affecting economic, energy and food security and urged the use technologies such as artificial intelligence, drones, and satellite remote-sensing to aid in rescue efforts. (Reporting and editing by Jacqueline Wong, Ryan Woo, Xiangming Hu and Ziyi Tang)
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South Africa is betting on renewable energy, but the power grid in place is not yet ready
Grid gridlock could stall the renewable energy transition * Many green energy plants cannot connect to an overloaded grid * Government plans major grid expansion over next decade By Kate Bartlett The President Cyril Ramaphosa launched the latest green energy projects last month. He called it part of a "clean-energy revolution" and a 155 megawatt wind farm located in Mpumalanga Province. He said that "electricity which is reliable, affordable and becoming increasingly clean is the 'lifeblood' of a growing economic system." South Africa plans to add 105 Gigawatts to its grid by 2039. This will include nuclear, wind, and solar energy. It is more than double the current capacity. Experts say that there is a major obstacle: a lack in transmission lines for all this energy. Many green energy projects cannot connect to the grid. The CEO of Energy Exchange South Africa (a private sector energy trader) wrote in June that "gridlock" was the biggest obstacle to unlocking the renewable potential of the country. It could even cause further economic and electricity crises. He said that the grid capacity of most areas with high green energy resources has reached saturation. This makes it difficult to provide renewable power to those in need. The government has said that to fix the problem, thousands of kilometers of power lines will need to be added in the next ten years. This is estimated to cost 400 billion rand (18 billion PS). EXTENDING GRID Last week, Kgosientsho RAMOKGOPA, Minister of Electricity and energy, admitted that "we need 14,500 km (9,000 miles)" of transmission lines and that we build on average 200km per year. Kevin Mileham, spokesperson for South Africa’s second largest political party, Democratic Alliance, was asked why it took so long. He said that part of the delay is due to redtape. They're considering a partnership model to build this portion of the grid. He said that they have to follow a procedure to appoint these private contractors. The components required are not produced locally. He said that many of these items were on backorder. "We will have to wait for two or three years before we get some of this." Ramokgopa, who was in Beijing to court investment last week, said that six Chinese companies have agreed to establish factories in South Africa for the manufacture of transformers and pylons required to support grid expansion. China, which is the largest producer of renewable energy in the world, has already invested heavily in South Africa's green sector. A Chinese company supplied the turbines for the new Mpumalanga Wind Farm. Mileham stated that there was almost no capacity on the grid in the areas where renewable energy is best suited, such as the sunniest parts of the northern Cape, which are ideal for solar, and the Eastern Cape and Western Cape, which are perfect for wind. He added: "In Mpumalanga and other places, we are able to increase grid capacity as coal plants close." It's not an ideal place to add renewable energy. Unbundling ESKOM South Africa has long struggled with power shortages, due to an aging infrastructure and damage. The state-owned power utility Eskom, however, has suffered from mismanagement and financial losses, and has for a very long time been unable to meet the demand. In 2023, the government began introducing daily power cuts, also known as "load-shedding", to conserve electricity. This was a major blow to the country's economy. Mileham explained that this is now mostly a thing in the past. He explained that rooftop solar doesn't require a connection to the grid. Mileham pointed out, too, that if mining companies built solar power plants next to coal mines "you wouldn't have to transmit this over the transmission infrastructure". Ramaphosa announced this year that he would break up Eskom to create a separate company to manage the transmission grid. Mileham says that this is desperately needed because Eskom, as it stands now, is both "player and referee" in the competition for grid access between independent power producers. Eskom, however, is not backing down. Mteto Ntyati, Eskom's board chairperson, urged the government last week to delay the transfer. Ramaphosa, however, told industrialists in this week that a "competitive electricity market requires a transmission network that is independent and efficient, capable of providing a fair access to all participants on the market." (Editing by Jonathan Hemming).
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Third Point discloses Warner Bros Discovery share, adding to Alphabet exposure
Third Point, the hedge fund of billionaire investor Daniel Loeb, has taken a stake in Warner Bros. According to a Friday regulatory filing, Discovery took a stake in Warner Bros. during the second quarter. According to LSEG, the fund's position of 20,000,000 shares would make it one of the 20 largest investors in the media company. This is at a time when the $110 billion Paramount Skydance acquisition has been halted due to court challenges. Third Point is a long-time investor in the media industry. In 2022, it will push for changes at The Walt Disney Company. The New York-based Fund also revealed that it increased its stakes in Google parent Alphabet as well as boosted their holdings of Union Pacific and Norfolk Southern,?as both railway operators pursue their $85 billion merger. The 13F filing also revealed a new investment in Riot Platforms. This made 'Third Point' one of the 25 largest bitcoin miners.
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ADNOC, the UAE's national oil company, says that one of its vessels was attacked while transiting Hormuz
The Emirati news agency WAM reported that the Abu Dhabi National Oil Company of the UAE said on Saturday one of its vessels was attacked while transiting the Strait of Hormuz the day before. According to WAM, the state oil company reported that no injuries were reported and that the situation is now under control. This was the 'third incident of this kind involving ADNOC vessels within a week. The UAE accused Iran of being behind the earlier attacks. However, the UAE made no comment on the attack that took place Friday. Before the conflict, a fifth the world's oil & liquefied natural gas was transported through the narrow waterway that connects Oman to Iran. Shipping has been disrupted repeatedly since the U.S. and Israeli war?with _Iran erupted on February 28. This has raised freight rates, as well as created security concerns. ADNOC, one of the largest energy producers in the world, exports crude oil and natural gas as well as refined products to other countries. Reporting by Menna alaa el-Din, Editing by Mark Porter & Rod Nickel
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The resumption of Colombian coffee production could take several weeks. Processing is also affected.
Market participants stated on Friday that the normalization of Colombian coffee logistics, including the return of beans to a major exporting port, and then to export markets could take up to two weeks. Fixing processing installations may take even longer. Market participants said that the 7.4-magnitude quake in the Colombian coffee region?killed almost 300 people, caused landslides along dozens of roads and destroyed a number of warehouses and export ports. Carlos Santana is a director of global coffee trader ECOM. He said that he estimates it will take 15 days to normalize the coffee flow. Colombia supplies around 25% of coffee beans consumed in the United States. This is the largest market for the beans. He added, "The port is not closed but it's hard to get the coffee there and several warehouses have structural damage." ATM Terminals, which manages the Buenaventura Port, has said that operations have been gradually resumed. This includes movement in the port warehouses of coffee and sugar. However, it is not yet open to receiving more containers filled for export. According to the company, the earthquake caused structural and machine damage at the dry mill run by Caravela Coffee, located in Armenia, an area in the west-central region of Colombia's main "coffee belt". The?shared on social media a CCTV video showing the moment of tremor. The mill is used for processing green coffee to make it ready for export. "We don't know yet when we will be able to restart our operations safely. "We are still dealing with the lack of electricity in the mill," said Caravela's Chief Executive Alejandro Cadena. The coffee supply will be?tightened by the?temporary suspension of Colombian shipments. Expana, a price reporting and analyst agency, said that the event occurred amid ICE-certified arabica stock shortages. This kept nearby supply tight. Buyers looked to Brazil to offset any Colombian disruptions. (Reporting and editing by Alistair Bell; Marcelo Teixeira)
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Mexico races to remove record seaweed growth from Caribbean beaches
Mexico is battling a record amount of sargassum, a brown seaweed that has a foul smell. The seaweed is choking beaches along the Caribbean coast. According to new data, officials in Quintana-Roo, which is home to popular resorts such as Cancun, Playa del Carmen, and 'Tulum,' have cleared 105,000 metric tonnes of sargassum this year. This figure already surpasses the previous record of 92,783 metric tons set last year. This haul puts the state in a position to surpass earlier projections of 2026, and intensify what officials describe as one of "the worst sargassum season on record." The authorities had estimated that 119,000 tons of sargassum could wash up on the shore this year. Scientists believe the massive blooms have been fueled by fertiliser-rich runoff, including nitrogen and phosphorus from Brazil and other agricultural powerhouses. As the seaweed rots, it releases hydrogen sulfide which irritates the nasal airways. Oscar Rebora is the Quintana Roo environment minister. He said that forecasts are uncertain. Rebora added that the most recent tally as of Tuesday was the current one. He said that Playa del Carmen had the highest volume of seaweed collected to date. The seaweed is a constant for workers who are charged with cleaning the beaches. Vitinia Villemontes, a cleanup worker in Puerto?Morelos said that sargassum has been arriving non-stop. "This year, it just didn't stop." "Sargassum continued to arrive from July to July," she said. "It is virtually impossible to keep it under control." Sargassum is a weed that has been encroaching on beaches in the 'Caribbean for the last decade. It threatens the tourism industry, which underpins the economy of Quintana Roo. Some companies claim that creating a market to sell the algae could offset the high costs of collection. Carbonwave, a company that processes sargassum to?liquid biostimulants, fertilizers and other products, said: "We believe creating value out of it is one of the strategies we can use to reduce the sargassum issue." Mexico's Environment Ministry has identified dozens projects to turn sargassum products into bioplastics, biofuels, and fertilizers. The government's support for commercializing the sargassum is limited. Most of its funds are still used to clean up. (Reporting and Writing by Daina-Beth Solomon, Andrea Ricci and Paola Chiomante)
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India reduces windfall tax on petrol, diesel and aviation fuel exports
According to a government directive, India has reduced 'windfall taxes' on the export of?petrol?,?diesel? and?aviation?turbine fuel? with effect from Saturday. The government order showed that the duty on diesel exports was reduced to 24 Indian rupees ($0.2515) a litre (down from 25.5 rupees) and the duty on petrol was set at zero rupees per kilogram. The tax on "aviation turbine fuel" has been reduced to 19.5 rupees a litre, from 22 rupees previously. India introduced windfall taxes to capture the extraordinary gains from rising oil prices in July 2022. Two years later, it scrapped them. The levy was introduced in March 2026, after oil prices spiked during the U.S./Israeli war against?Iran. India revises its export levies based on the international price of?crude oil and petroleum-based products every two weeks.
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US puts pressure on EU to "deliver" on non-tariff commitments
On 'Friday, the United States called on the European Union to relax its laws that place a?responsibility? on large companies for the environmental and social?impact? of their global supply chain. The United States claimed the EU had promised such measures wouldn't hamper EU-U.S. commerce. U.S. U.S. Now it's up to the EU. "Under the Framework Agreement, EU pledged to?ensure that its Corporate Sustainability due Diligence Directive (CSR) and Corporate Sustainability reporting Directive (CSR) 'does not impose undue restrictions on the transatlantic trade", Puzder wrote. "Extraterritorial Provisions harm American businesses and workers but not only the U.S. will suffer." According to Puzder, EU laws require that large companies, including U.S.-based firms, operating in the EU disclose their environmental and societal impacts, as well as working conditions, across their supply chain. According to a spokesperson for the European Commission, the EU and U.S. continue to work together on non-tariff and tariff issues. The spokesperson stated that the EU had explained its non-tariff rules and stressed its willingness to work with the U.S. in order to increase trade wherever possible. The spokesperson added: "We have always been clear that our rules framework and regulatory autonomy are not negotiable." Washington also wants the EU to amend the Carbon Border Adjustment Method (CBAM), a system that imposes fees on goods imported without meeting EU standards for carbon emissions. New pressure is being applied as U.S. officials and EU officials focus on non-tariff obstacles after the tariff commitments made in July 2025 have taken effect. Three sources familiar with the talks said that they expect joint statements to be released in the fall covering the non-tariff components of the Turnberry Agreement. Brussels has already weakened some of the policies that Washington criticised over the last year, including its anti-deforestation laws and methane emission rules. Sources familiar with EU policy said that the bloc did not plan to make any further concessions. SUSTAINABILITY RULES Last year, the EU also reduced its corporate sustainability regulations, known as CSRD or CSDDD after being pushed by businesses and governments, including those of the U.S.A. and Qatar. Changes agreed in December restricted the scope of Corporate Sustainability Due diligence Directive (CSDDD), and delayed the deadline for compliance by two years, to mid-2029. Corporate Sustainability Reporting (CSRD), a directive that requires companies to disclose their environmental and social impact, will only apply to firms with more than 1,000 workers, compared to the original threshold of over 250 employees. U.S. firms, such as ExxonMobil, had sought more extensive changes including an exemption of foreign firms. A statement that accompanied Puzder's blog post stated: "While the United States recognizes some positive changes in the December 2020 Sustainability Omnibus (Sustainability Omnibus), these reforms did not fully address U.S. concern regarding these directives."
Ambrey reports that a drone hit a gas storage tanker in Egypt's Mediterranean Port.
Ambrey, a British maritime security company, said that a drone had hit a U.S. owned gas storage tanker in Egypt's Mediterranean port of Damietta. This was an initial assessment, which could indicate a new outbreak of conflict throughout the Middle East. Egypt's petroleum minister confirmed that there was a fire in the port, but did not mention a drone strike and did provide no explanation for the incident.
Inchcape, a port services company, said in an unrelated message that two gas tanks had caught fire at Damietta.
Three sources who were familiar with the incident confirmed that a drone struck the floating storage tanker Energos Winter and caused a fire which spread to another vessel Gaslog Salem. Two different security sources confirmed that a drone strike was the most likely cause of this explosion. Vanguard, a British maritime risk management company, said that the?Energos Winter had been struck on its starboard by an unknown projectile, which caused a fire. The fire was put out. The incident occurred after Iran launched a missile against U.S. troops in Jordan and Washington and Saudi Arabia struck Iran-backed paramilitary group in Iraq. Donald Trump, the U.S. president, threatened to retaliate and Yemen's Houthi declared a navy blockade against Saudi Arabia. This spread the conflict further than it had been since U.S. Israel and Iran began bombing Iran back in February. The video was posted on social media and verified the location based on the port infrastructure, storage tanks, and ship tracking data. These matched archive and satellite images. Archive images confirmed the identity of the vessels as "ENERGOS WINTER" (IMO: 9256614), and "GASLOG SALM" (IMO: 9638915). The mast, stern and foredeck matched the archive images. Media reports confirmed the date, and Egypt's petroleum ministry confirmed an fire in the port. There were no older versions of these videos posted online before July 29.
The Energos 'Winter' is a floating gas storage and regasification (FSRU) unit with a storage capacity of 138.250 cubic meters. Energos Infrastructure, a U.S. firm, owns the vessel. Wilhelmsen Ship Management is also a U.S.-based company that manages the technical, safety, and commercial operations.
In a statement, Egypt's Petroleum Ministry said that a fire broke on a vessel for gasification and another vessel for storage at the port of Damietta. The emergency response plan was immediately implemented by teams from both the firefighting and security departments.
The statement said that Karim Badawi, the Petroleum Minister, 'went to the site in order to supervise response efforts. The statement said that the fire did not cause any injuries or deaths, and that emergency and technical teams continued to assess the impact and work on the response. Reporting by Jonathan Saul; Marwa Rashad; and Mohamed Ezz. Additional reporting by Nathan Chiang; and Monica Naime. Editing by Alex Richardson, David Gregorio.
(source: Reuters)