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New Czech government takes a tough stand on EU emission rules and migration
In its first meeting, the new Czech government rejected on Tuesday both the EU's migration pact as well as a plan for trading emissions, which could lead to a conflict with Brussels. As promised, the billionaire prime minister Andrej "Babis"?populist ANO and his right-wing ruling coalition partners immediately took aim at immigration and ETS2 emissions trading. The Czech government claims that the EU's ETS2 emissions allowances will increase energy prices and threaten the competitiveness?of?European Industry. Babis said at a press conference that "we will not implement this provision further of the EU directive". He added that his new government, which was sworn in on Monday, would seek allies within the 27-nation block to get the plan scrapped. Babis stated that multiple countries demanded?changes, and that his government had a plan on how to proceed. He did not elaborate. A TOUGHER POSITION ON MIGRATION Babis' government could face infringement proceedings, a possible loss of EU funding and financial penalties if it rejects the agreed EU policies. Babis' cabinet called for a more aggressive stance against migration to the Czech Republic. It also demanded a stricter return policy and more stringent EU migration rules. Babis did not provide any details on the impact of the government's refusal to sign the migration pact. The EU's Migration Pact, which is due to take effect in 2026, will rewrite the rules on how illegal migrants are handled. The "solidarity measures" include relocating migrants to other countries, or providing financial and operational assistance. The Czech Republic was exempted for the next year from any payments of solidarity due to its?acceptance of 400,000 Ukrainian refugees. The Czech Republic, and other Eastern European countries have long refused to accept migrants from Brussels. Most of them want to settle in the wealthier Western EU states. (Reporting and editing by Gareth Jones, Jan Lopatka, Jason Hovet)
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Russia claims that Zaporizhzhia Nuclear Plant runs on a single power line
According to its 'Russian management', the Zaporizhzhia Nuclear Power Plant in Ukraine is currently only receiving electricity via a single of two external power lines. The management stated that the other line had been disconnected due to military activities, and added that radiation levels were?normal. The repair work will start as soon as possible. Since March 2022 when Russian forces seized much of the southeast Ukraine, this nuclear plant, Europe’s largest, has been under Russian control. It is not currently producing electricity, but it relies on external energy to keep the material cool and prevent a meltdown. Both sides have accused each other of destroying the facility. The facility experienced two complete 'power outages' earlier this month, but it was later reconnected. The plant had to rely on diesel generators for 30 days in September and October, but a damaged power line was repaired during a local truce arranged by the U.N. Nuclear Agency.
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Data shows that Swedish greenhouse gas emission are on the rise again following government relaxation of fuels policies
The government relaxed rules for mixing biofuels with petrol and diesel in Sweden, according to data released on Tuesday. This reversed a downward trend in recent years. Swedish Environmental Protection Agency stated that the increase in emissions would make it more difficult for Sweden to meet its EU-mandated goals on climate change. Since 1990, Sweden's CO2 emissions and other greenhouse gas emissions have declined. However, the right-of-centre government reversed many of the measures taken in the fight against climate change. The Swedish Environmental Protection Agency (SEPA) reported that emissions from domestic transport rose by 24% between 2024 and 2030, while heavy machinery emissions rose by 33%. In a recent statement, Roger Sedin of the Swedish Environmental Protection Agency's climate goals unit said that "the last 15 years saw a downward trend in emissions (in transportation) and that we had a good chance to meet both our national milestone target and our EU-related commitments." The increase in emissions by 2024 makes it harder to achieve these goals. Sweden has committed to reducing emissions in the transport sector 50% by 2030 compared with 2005 levels under the EU Effort-Sharing Regulation (ESR). The total emissions, excluding the CO2 taken in by land and forests (LULUCF), increased around 3 million tonnes from 2024 to 47.5 millions tonnes. Positive Development The amount of carbon sequestered in forests and other land uses has increased from 54.3 million tons to 8 million tonnes since 2023. Sweden's forests are spread over 70% of the country, but their capacity to absorb CO2 has decreased in recent years because of climate-induced droughts and increased logging. Sweden's goal is to achieve net-zero emissions of greenhouse gases by 2045. The emissions must be reduced by 85% compared with 1990, and the remaining 15% will come from CO2 absorption in the LULUCF industry. Since 1990, Sweden's emissions have been reduced by 33%. (Reporting and editing by Susan Fenton; Simon Johnson)
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Document shows that Italy is planning to invest 2.4 billion Euros in frigates.
A document seen by revealed that the Italian government had asked for approval of a 2,4 billion-euro investment (US$2,82 billion) over 15 years to maintain and modernise its frigate fleet. Italy is preparing to?increase defense?spending in order to meet higher NATO targets. This comes after allies agreed to the U.S. request to increase their annual defence budgets up to 5%. Document stated that the programme is to be implemented until 2039 and aims at "maintaining operational conditions, logistical support, as well as the'mid-life upgrading' of FREMM type frigate naval units. It stressed the need for Italy to continue to operate vessels that are capable of monitoring maritime areas of national interest. FREMM is a multi-purpose warship designed jointly by Italy's Fincantieri, and France's Naval Group. The shipbuilding joint venture along with Leonardo won a contract worth 1.5 billion euros last year to build two frigates in Rome. The document stated that the industry's cooperation is expected to continue in accordance with existing arrangements including through OCCAR, the European procurement agency. Both the Italian defence and industry ministries will fund this new investment. The program is described as being "vital", and it will deliver "clear benefits" in one of the defence sectors with highest strategic value. According to the website of the lower house, the defence committees in the parliament must approve the request before January 12. The lower house website states that drones, subs and remotely-piloted aircraft are included in other spending plans. The opposition parties criticised the new defense spending plans of the 'government', which are worth over 3 billion euros. They claimed that the government was not investing enough in the'social services'. This is a real slap on the faces of Italian families, I think. A truly unpalatable gift", Nicola Fratoianni said, a member of the Green-Left Alliance. $1 = 0.8498 euro (Reporting and editing by Giulia Segriti, Ros Russell).
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Fincantieri's new five-year plan targets a 40% increase in revenue by 2030
Italian shipbuilder Fincantieri set on Tuesday a goal of a 40% increase in revenues and a near-doubling?of core profit in its new five year plan. It also expanded?to?the defence business and underwater business while maintaining its leadership in cruise ships. The 2026-2030 Strategy, also known as "F4 Fast forward Further Future", is expected to be revealed in the first few months of the next year. It forecasts new orders of more than 50 billion Euros ($58.79billion), primarily?in defence. In a press release, Chief Executive Officer Pierroberto?Folgiero stated that "with this plan, we are entering a new stage of growth.?We strengthen production capacity, improve competitiveness, and remain focused on our core business, and operational efficiency." The group is expecting revenues to increase to 12.5 billion euro in 2030 from 9 billion euro in 2025. Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA), are expected to rise by 90% to 1.25 million euros at the end five years. Profit margins of 4% or more were predicted for 2030. The state-controlled company said that it would invest in its Italian shipsyards to?double production capacity for the defense segment and reduce delivery time, to meet increasing domestic and international demands. The company stated that it expects new orders for defence from Italy and the United States by?2026. The company's underwater unit was formed at the start of the year and is expected to benefit from a market that will?double in 2026-2030, to 43 billion Euros, due to?traditional products, as well as a new demand for defense systems and solutions to deal with hybrid threats. Fincantieri stated that its traditional cruise sector will be supported by an average growth rate of 4.5% per year in passengers. It said that the company has already 34 units in its fleet and delivery schedules up to 2036. The exchange rate is $1 = 0.8506 euro. (Reporting and editing by Alvise Armllini, Ros Russell).
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Final report on the 1994 Estonian ferry disaster shows that bow failure was responsible for the tragedy.
Authorities said that the failure of the 'bow section' of the Estonia ferry was the cause of its sinking in 1994, and not an explosion or collision, as some claimed. Investigators from Estonia, Sweden and Finland said that the MV Estonia sank due to the collapse of bow construction. "There's no need to launch a full-scale... investigation into the accident," said Estonian, Swedish and Finnish investigators. The roll-on/roll-off ferry, which was a roll-on/roll-off, sank during a storm in the Baltic Sea on the night of the 28th of September 1994. 852 people lost their lives. A 1997 official investigation concluded that the bow shield of the ferry had failed, causing flooding and sending the vessel to its bottom. Alternative theories continue to thrive. In 2020, a video clip from a TV documentary revealed previously unseen holes on the ship's hull. This prompted authorities to re-examine the wreck. The report concluded that rocks at the seabed caused the damage to hull. It was based on six different examinations of wreck site, interviews with the survivors, modelling, and technical analysis. Investigators stated that "the inspections did not reveal any evidence" that the MV Estonia had collided with a vessel or object on its 'journey. "Nor is there any sign that an explosion took place on the ship." In 2023, a preliminary report blamed the rocks for the holes. The report also concluded that it was not seaworthy when the ferry made its final trip.
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Dassault Aviation CEO uncertain if FCAS Fighter will proceed
The head of Dassault Aviation raised doubts on Tuesday over ?the ?future of a troubled Franco-German-Spanish fighter programme, saying it partly depended on whether Germany was willing to rethink its reliance on U.S. arms imports. "Will it ever happen?" "I don't know," Eric Trappier, CEO of Trappier International, told a corporate security conference. He reiterated calls for a clearer leadership in the core fighter component, which also includes drones, and combat connectivity, of the Future Combat Air System. Trappier said: "Nobody's ever talked to me about two planes." When asked about reports that France, Germany and Airbus could build two jets to bridge the differences between Dassault & Airbus regarding plans for a single system, Trappier replied: The FCAS 100 billion-euro ($116-billion) programme is mired in disputes over technology and workshare between the two major industrial partners. After the failure of defence ministers to resolve their differences last week over industrial control, it is expected that German Chancellor Friedrich Merz will discuss with French President Emmanuel Macron this week about the fate and future of FCAS (SCAF in French) Trappier, in a speech to officials from the corporate world and public safety, recalled Dassault’s pivotal role in France’s independent defense. He welcomed European Union's efforts to strengthen defence, but added that "Europe isn't a nation" and the task of protecting the continent was primarily with its nations. "Do France? Germany? And Spain? Share a complete willingness to defend Europe?" I believe they do. He told the CDSE conference that "the way this is done is more complex". Trappier has criticized Germany for selecting U.S. F35 fighters to fill a NATO Nuclear-Sharing?role. He said that one question mark about FCAS is: "Is Germany prepared to set aside its transatlantic relationships in defence matters?" Dassault said that it wants to reestablish a clear control over the core fighter component of FCAS while leaving Airbus to manage other pillars, such as combat drones. Trappier said at the conference: "I ask for leadership based on the capabilities of the Dassault Company." "I'm not against cooperation but it must be effective co-operation", said Trappier. Airbus accused Dassault on Monday of trying to undermine existing agreements on FCAS governance, as the parties attempt to reach an agreement on the next phase of the program, a flyable demonstration aircraft. Reporting by Florence Loeve, Tim Hepher and Mark Potter. Editing by Mark Potter.
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ROI-Global coal exports post rare decline in 2025 on China cuts: Maguire
The first decline in global thermal coal shipments - used in power plants - has been recorded since 2020, due to lower coal-fired electricity generation in major Asian markets. Data from commodities intelligence company Kpler show that total?seaborne?exports of so-called Steam coal will be around 945 million metric tonnes in 2025. This represents a 5% drop or about?50million ton from 2024. The main reason for the decline was a 7% decrease in imports from countries in Asia, the top coal-consuming region. This suggests that the global export volume of coal may have reached its peak and continue to shrink. ASIAN DOMINANCE The concentration of coal shipments is evident in the fact that 89% all thermal coal imported for this year came from Asia. The total imports of thermal coal fell by 7%, or 60 million tons from the 2024 figures. China was this year's top coal importer, with a total of 305 million tonnes. India (157 millions tons), Japan (100,00 tons), South Korea (76,000 tons), and Vietnam (45 tons) were all close behind. Only two of the five largest coal-importing markets, South Korea and Vietnam, saw an increase in their imports for the year. This shows the depressed tone of the coal market, even in the region that consumes the most coal. While other countries such as?Malaysia and Thailand, and Turkey, have also seen an increase in their coal imports year over year, China and India remain the two main drivers of global coal import trends. CHINA AND INDIA IN FOCUS China and India, the two largest thermal coal importers, accounted for 48 percent of all thermal imports. Both countries registered a contraction in imports this year as a result of heightened domestic coal production combined with increased power supply from other sources. China's thermal imports dropped by 12%, or almost 43 million tons in 2025 compared to the previous year. This equates to 305 millions tons. India's thermal imports fell by 3%, or 4.3 million tonnes to 157 million. China and India both have government policies that encourage domestic coal production. This generates jobs, but they also face the danger of an overproduction of low grade coal that increases pollution levels when it is burned. China's ongoing war against overcapacity will likely lead to a shrinkage of domestic coal production in the coming years, which in turn could limit further declines in coal imports in the near-to-medium term. China's rapid rollouts of clean energy - including record deployments of solar and nuclear power - are expected to continue to shrink coal's share in the domestic power mix. Data from the energy think tank Ember show that coal's share in China's electricity production has dropped to a new record low of just 55.3% in 2025. This is down from 59% in 2024. In India, the combination of record coal production in India and declining coal consumption in electricity generation has resulted in a rare issuance for coal export permits. These export permits are likely to increase competition between exporters in early 2026. They could also become more common if mine production increases continue to be maintained while the domestic demand for coal to generate electricity continues to decline. In 2025, coal has produced just over 70% of India's electric power. This compares to a share of more than 77% in the last two years. The rapid roll-out of solar and wind farms in India, along with the highest hydro dam generation in more than six year's time has led to coal's loss as India's largest generator. Further coal cuts could be made in India, both for the coal share of the mix of generation and the total coal consumption. This could lead to India exporting even more coal in the near future, which would reduce the profits of other coal exporters like Indonesia and Australia. Over time, any sustained decline in coal consumption in China, India, and other former major coal consumers, will likely result in a steady shrinkage of coal export volumes, and a wider contraction of the coal industry. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
Polish power grid targets zero-emissions transmission network by 2035
PSE, the Polish power grid operator, said Tuesday that it plans to transform Poland's transmission system into a zero-emission mix of energy by 2035. This is part of a longer-term strategy.
PSE stated that it would need to integrate 80 gigawatts of new renewable energy capacity by 2034, and 15 gigawatts of storage.
Even though coal's share in electricity is declining, conventional plants can still be used to provide backup power for intermittent power sources, and stabilise the?frequency? during power outages.
In a recent statement, PSE's chief executive Grzegorz?Onichimowski said: "We need to prepare the system for stable grid operation without conventional energy sources. They will still be required, but they are primarily needed to maintain energy balance in periods of lower renewable energy production."
PSE plans to manage grid-connected systems in 2030, with 1.5 million?prosumer installation - homes that produce and consume electricity, like those with solar panels. PSE will also implement grid forming measures in order to integrate intermittent sources and stabilise voltage and frequency.
Grid said that "failure to adapt operational mechanisms to the reality of a system with high renewable energy share led to one the most severe power outages in Europe - the blackout on Iberian Peninsula." PSE reported that a complete blackout could result in 'economic losses up to 40 billion Zloty ($11.13billion) per day.
PSE will examine the feasibility of constructing new cross-border links and expanding the existing ones, including increasing the capacity of the cable undersea with Sweden.
By February, the grid will have implemented a model for infrastructure protection. ($1 = 3.5934 zlotys) (Reporting by Marek Strzelecki, Editing by Louise Heavens)
(source: Reuters)