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Japan releases oil stocks after US orders to buy American
Japan will begin releasing oil on Monday to ease the shock of?the U.S. and Israeli war on Iran. This is a stark reminder of the oil shortage that occurred half a century earlier, which prompted Tokyo's creation reserves. Tokyo announced that it would release 80 million barrels of crude oil to Japan, which is enough to last the nation for 45 days. The war in the Gulf has disrupted supplies through the Strait of Hormuz. The Japanese government has instructed refiners to use the crude oil released, which will reduce Japan's national reserves by 17 percent, to ensure domestic supplies. The amount of oil that will be released by the International Energy Agency for a global supply release of 400,000,000 barrels to combat the war's price volatility and supply shock is unknown. RESERVES STABILISE SUPPLY, BUT "MAINLY BUILD TIME" Yuriy?Humber, CEO of Tokyo-based consultancy Yuri Group, says that Japan's release demonstrates how seriously Tokyo views disruption. The reserves are mainly there to buy time, but can help stabilize supplies and prices on a short-term basis. He said that they couldn't "fully offset" a disruption of the Strait of Hormuz. The Ministry of Economy, Trade and Industry states that any potential release of 12 million barrels held jointly by Saudi Arabia, United Arab Emirates and Kuwait in Japan would be additional to the 80 million barrels announced. Japan began its national oil reserves system in 1978, several decades after the Arab oil embargo. The Group of Seven nation is reliant on Middle East oil for 90% of its consumption. It now stockspiles enough to last 254 days. METI reports that the government will begin releasing oil from its reserves to cover 15 days of consumption by the private sector on Monday. METI Minister Ryosei Acazawa stated that private companies are preparing to?tap Japan's stockpiles?, but they also want supplies from Central Asia, South America, and Gulf countries, which can bypass the Strait of Hormuz. Japan buys around 4% its oil from the U.S., after ceasing to purchase it from Russia in 2022 following Moscow's invasion of Ukraine. Lee Zeldin, the U.S. Environmental Protection Agency's Administrator, said: "When you consider the conflict in the Middle East.....you are reminded that all the crude oil..that went from Alaska to Japan..was never..targeted by a successful terrorist.attack." This conflict is a reminder to other nations that the United States has the resources they need. (Reporting and editing by William Mallard; Yuka Obayashi, Katya Golubkova)
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Palestinian Health Authorities say that Israeli forces killed four Palestinians in West Bank.
Palestinian health officials said that Israeli forces killed four Palestinians on Sunday. They included a mother, a father, and two children, while they were driving in the occupied West Bank. Palestinian health officials report that a mother and father aged 35 and 37 and two of their children ages?5 or 7 were shot in the head in the village Tammun. Two of their other children also sustained injuries. The Israeli military said that it would be examining the reports. According to the Palestinian Health Ministry, a Palestinian also died in an overnight attack by settlers. Rights groups and medics claim that Israeli settlers are using the restrictions on movement imposed by the U.S./Israeli war against?Iran as an excuse to attack Palestinians. Military 'roadblocks' prevent ambulances from reaching the victims quickly. According to the Palestinian Health Ministry, settlers have killed at least five 'Palestinians' in the West Bank ever since the Iran War began on February 28. Reporting by Ali Sawafta and Emily Rose, Editing by Shri Navaratnam, Editing By William Mallard
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Palestinian Health Authorities say that Israeli forces killed four Palestinians in West Bank.
Israeli forces killed 4?Palestinians?, including 2 children?, during a raid on the occupied West Bank?on Sunday. Palestinian health officials report that a mother and father aged 35 and 37 were killed in Tammun village in the West Bank, along with two of their children, ages 5 and 7, while two other children from the same household sustained injuries. The Israeli military stated that it was examining the reports. According to the Palestinian Health Ministry, a Palestinian died in an attack carried out by settlers over night on Saturday. Medical groups and rights groups say that Israeli settlers are using military roadblocks to prevent ambulances from reaching Palestinians in the West Bank. According to the Palestinian Health Ministry, settlers have killed "at least five" 'Palestinians since Israel and the United States began airstrikes on 'Iran in February. Reporting by Ali Sawafta and Emily Rose, Editing by Shri Navaratnam
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US and China's economic chiefs will meet in Paris, clearing the way for a Trump-Xi Summit
The top U.S. economic officials and Chinese leaders will launch a second round of negotiations in Paris on Sunday. They hope to smooth out the kinks of their trade truce, and prepare for Donald Trump's visit to Beijing at the end March to meet Chinese President Xi Jinping. Discussions between U.S. Treasury Secretary Scott Bessent, and Chinese Vice Premier He Lifeng are expected to center on the shifting of?U.S. Tariffs, the flow of Chinese rare earth minerals and magnetics to U.S. customers, American export controls, and Chinese purchases of U.S. agriculture products are all expected to be discussed. A source familiar with the planning of the two parties said that the two sides would meet at the Paris headquarters for the Organisation for Economic Cooperation and Development. China does not belong to the club of 38 mostly rich democracies, and it considers itself as a developing nation. U.S. trade representative Jamieson Greer is also expected to join the discussions. The talks will continue a series of meetings held in European cities during the last year, aimed at easing the tensions between the two world's largest economies. U.S. and China trade analysts say that there is little time for preparation, as Washington's focus is on the U.S. - Israel war against Iran. The prospects of a major breakthrough in trade are therefore limited at either the Paris or Beijing summit. Scott Kennedy, an expert in China economics at the Center for Strategic and International Studies, Washington, said, "Both sides have a minimal goal of holding a meeting. This keeps things together and prevents a rupture and reescalation of tensions." Kennedy said that Trump might want to leave Beijing with a commitment from China to buy new Boeing planes and more U.S. soybeans and liquefied gas, but he would need to make some concessions on U.S. Export Controls. Kennedy, however, said that the chances of a summit "that superficially appears to be making progress" but in reality leaves things at their current state for the past four months were good. Trump and Xi may meet at least three more times in 2018. This includes a China hosted APEC Summit in November?and a U.S. hosted G20 Summit in December, which could result in tangible progress. IRAN WAR OIL CONCERNS It is likely that the U.S. and Israel's war against Iran will be discussed at the Paris talks. This is especially true in relation to the recent spike in oil -prices, as well as the closing of the Strait of Hormuz through which China receives?45% of her oil. Bessent announced on Thursday that sanctions would be waived for 30 days to allow the sale Russian oil in tankers stranded out at sea. This was done to increase supplies. Trump called on other countries to protect shipping in the Strait of Hormuz after Washington bombed military sites at Iran's Kharg Island, a hub for oil loading. Iran had threatened to retaliate. In a Sunday commentary, China's Xinhua state-run news agency stated that "meaningful" progress could be made in Sino-U.S. Economic Cooperation to restore confidence in an economy which is becoming increasingly fragile. TRADE TRACE REVIEW Both sides will review their progress on meeting the commitments made under the October 2025 Trade truce that was declared by Trump and Xi at Busan in South Korea. The agreement prevented a major flare up in tensions. It lowered U.S. import tariffs and suspended for a whole year China's export controls of rare earths. The deal also halted the expansion of a U.S. list of Chinese companies that are banned from purchasing high-tech U.S. products such as semiconductor manufacturing machinery. China has also agreed to purchase 12 million metric tonnes of U.S. soya beans during the marketing year 2025 and 25 millions tons for the season 2026, which begins with the harvest in the fall. Bessent and other U.S. officials have stated that China has met its commitments in the Busan agreement, citing initial soybean purchases. While some industries receive rare earth exports from China - which dominates the global production - U.S. aerospace firms and semiconductor firms are not receiving them and are experiencing a worsening shortage of key materials, such as yttrium used in heat resistant coatings for jet engine. William Chou said that the U.S. will focus on agricultural purchases from China and greater access for Chinese rare earths at the Paris talks. NEW TRADE PROBES Greer and 'Bessent bring a fresh irritant into the Paris talks: a "Section 301", a new investigation into unfair trading practices that targets China and 15 major trading partners based on alleged excess industrial capacities. This could lead to a second round of tariffs in a matter of months. Greer has also launched a probe into allegations of forced labor in 60 countries including China that could lead to the ban on certain imports. The investigations aim to rebuild Trump’s tariff pressure against trading partners after the U.S. Supreme Court ruled that Trump's global trade tariffs were illegal under an emergency law. The ruling effectively'reduced Trump’s tariffs on Chinese products by 20 percentage points. But he immediately imposed an?global tariff of 10% under another trade law. China denounced Friday the investigations and stated that it reserves the right to take countermeasures. China Daily, the state-run newspaper, added in an editorial that these investigations were unilateral actions that complicate negotiation. Xinhua reported that "the new round of discussions is both an opportunity as well as a test." The U.S. will have a major role to play in determining whether the talks are successful. Washington must approach the talks with a pragmatic and rational mindset, and act in accordance with the principles which underpin stable China-U.S. Economic Relations." (Reporting and editing by Andrea Ricci; Additional reporting in Beijing by Ryan Woo; Reporting by David Lawder)
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US and China economic chiefs to meet in Paris to prepare for Trump-Xi Summit
?Top U.S. economic officials and Chinese officials will launch a second round of talks on Sunday in Paris to smooth out the kinks 'in their trade truce, and to prepare for Donald Trump to travel to Beijing at the end of March to meet with Chinese president Xi Jinping. The U.S. Treasury secretary Scott Bessent, and the Chinese Vice Premier He Lifeng are expected to lead discussions on a number of issues, including shifting U.S. Tariffs, the flow of Chinese rare earth minerals to U.S. buyers and American export controls for high-tech products, and Chinese purchases U.S. agriculture products. A source familiar with the planning of the two parties said that the two sides would meet at the Paris headquarters for the Organisation for Economic Cooperation and Development. China does not belong to the club of 38 mostly rich democracies, and it considers itself as a developing nation. U.S. trade representative Jamieson Greer is also expected to join the discussions. The talks will continue a series of meetings held in European cities during the last year, which were aimed at easing the tensions between the two world's largest economies. U.S. and China trade analysts say that there is little time for preparation, as Washington is focused on the U.S. - Israel war against Iran. The prospects of a major breakthrough in trade are limited at either the Paris or Beijing summits, because Washington's focus will be on this conflict. Scott Kennedy, an expert in China economics at the Center for Strategic and International Studies, Washington, said, "Both sides have a minimal goal of holding a meeting. This keeps things together and prevents a rupture and reescalation of tensions." Kennedy said that Trump might want to leave Beijing with a commitment from China to buy new Boeing planes and more U.S. soybeans and liquefied gas. But to achieve this, he may have to make a concession on U.S. Export Controls. Kennedy, however, said that the chances of a summit "that superficially appears to be making progress" but in reality leaves things at their current state for the past four months were good. Trump and Xi may meet at least three more times in 2018. These meetings could include a G20 summit hosted by the U.S. in December and an APEC summit held in China in November. IRAN WAR OIL CONCERNS At the Paris talks the U.S. and Israel's war against Iran is likely to be discussed, particularly in relation to the "spike" in oil prices, as well as the closing of the Strait o'Hormuz through which China receives 45% of its crude oil. Bessent announced on Thursday that sanctions would be waived for 30 days to allow the sale Russian oil in tankers stranded out at sea. This was done to increase supplies. Trump called on other countries to protect shipping in the Strait of Hormuz after Washington bombed military sites at Iran's Kharg Island, a hub for oil loading. Iran had threatened to retaliate. In an editorial, China's China Daily newspaper called for continuity of the U.S. - China dialogue to serve as a "stabilizing pillar" in the midst of uncertainty surrounding the "ongoing Middle East crisis" and how best to resolve specific differences, including those relating to strategic materials, technology and market access, and agriculture. China Daily stated that "in a time like this, a trade conflict between the two world's largest economies is the last thing we need." TRADE TRUCE OVERVIEW Both sides will review their progress on meeting the commitments made under the October 2025 Trade truce announced by Trump and Xi at Busan in South Korea. The agreement prevented a major flare up in tensions. It lowered U.S. import tariffs and suspended for a whole year China's export controls of rare earths. The deal also halted the expansion of an American blacklist of Chinese firms banned from buying high-tech U.S. products such as semiconductor manufacturing machinery. China has also agreed to purchase 12 million metric tonnes of U.S. soya beans during the 2025 season and 25 millions tons for the '2026 season. This will begin with the fall harvest. Bessent and other U.S. officials have stated that China has met its commitments in the Busan agreement, citing soybean sales that met initial goals. While some industries receive rare earth exports, mainly from China which is the world's largest producer, U.S. semiconductor and aerospace firms do not. They are experiencing a worsening shortage of key materials such as yttrium used to make heat-resistant coatings on jet engines. William Chou said that the U.S. will focus on agricultural purchases from China and access to Chinese rare Earths, in the "short term", at the Paris talks. William Chou is a senior fellow with the Hudson Institute. NEW TRADE PROBE Greer and Bessent bring a new irritant into the Paris talks. A new "Section 301", investigation into unfair trading practices targeting China and other major trading 'partners, over alleged excess capacity in their industries. This could lead to a second?round tariffs in a matter of months. Greer launched a second investigation into alleged forced-labor practices in 60 countries, including China. This could lead to a ban on certain imports from the U.S. The investigations aim to rebuild Trump’s tariff pressure against trading partners, after the U.S. Supreme Court declared illegal Trump’s global tariffs under emergency laws. The ruling reduced Trump's tariffs against Chinese goods by 20%, but he immediately implemented a 10% tariff on a global basis under another trade law. China denounced Friday the investigations and stated that it reserves the right to take countermeasures. China Daily's editorial said that the investigations were "representative unilateral actions that complicate negotiation." Reporting by David Lawder, Editing by Andrea Ricci
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CNBC reports that Fertitta Entertainment is in talks with Caesars to purchase the company for $6.5 billion.
CNBC, citing 'close sources', reported on Saturday that Fertitta Entertainment was negotiating to buy Caesars Entertainment at $32 per share. This would represent an equity value $6.5 billion. The report stated that Fertitta’s terms for Caesars include a value of $31.5billion, based on the substantial debt the gaming company has. Caesars responded to an emailed question by saying: "As a policy, we do not comment on rumors and market speculation." Could not verify the report immediately. Fertitta Entertainment has not responded to the request for comment made outside of regular business hours. CNBC reported that deal talks will take place this weekend, within a 45 day exclusive window, at Fertitta’s headquarters in Houston. The Wall Street Journal reported earlier this week that Fertitta Entertainment was considering paying $34 per share for Caesars. This would give it a market value of $7 billion. Journal reported that the casino operator received a cash offer from Icahn Enterprises - the publicly listed company which houses billionaire Carl Icahn’s investments. Icahn made his first friendly bid for Caesars back in January. He offered $28.50 per share with the promise that the current management would continue to be in place, according to a report by CNBC. Icahn Enterprises didn't immediately respond to our request for comment. Icahn?is interested in partnering up with a digital gaming company, which could combine Caesars digital gambling operations and theirs. Caesars reported a?net loss for four consecutive quarters, hurt because of the softening visitor number in Las Vegas which dropped significantly in 2025.
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Tedros, WHO chief Tedros, says that 12 people were killed in a strike at a primary healthcare center in Lebanon
On Saturday, the head of the 'World Health Organization' said that it had'verified 12?doctors and nurses? who were killed during a strike against Bourj Qalaouiyeh Primary Healthcare Center in Lebanon on Friday evening. In a post published on X, Director-General Tedros Adhanom?Ghebreyesus noted that two paramedics were killed earlier in the day in an attack on a hospital in Al Sowana. Israel has launched a massive bombing campaign against the powerful Lebanese group Hezbollah. This has resulted in the deaths of more than 770 people and the displacement of hundreds of thousands of others. Hezbollah also fired hundreds of rockets across the border.
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Trump: 'Many countries' are sending warships to the Strait of Hormuz.
Donald Trump, the U.S. president, said on Saturday that a number of countries would send warships in order to maintain the Strait of Hormuz as a shipping route. He did not specify which countries would be doing this. Trump posted a message on Truth Social saying that "Many Countries will be sending War Ships in conjunction with United States of America to keep the Strait safe and open." Trump said that he hopes China, France Japan South Korea and Britain will send ships to the region. He wrote: "The United States will continue to bomb the hell out of the shoreline and shoot Iranian Boats and Ships into the water." The White House did not respond immediately to a question about whether countries had agreed to ship ships. Western nations have boosted their military presence in eastern Mediterranean as the conflict in Iran continues. They are focusing on the safety of Cyprus after an Iranian drone struck a British base on the island in March. John Healey, the British defence minister, said that Britain was also looking at additional options to deploy in the Gulf following an increase in Iranian attacks against vessels. A spokesperson for the Ministry of Defence said that on Saturday, the British government was in discussions with allies and partners to discuss "a range of possible options" to ensure "the security of shipping within the region". As part of its defensive support for allies, the French Navy has deployed about a dozen vessels, including 'its aircraft carrier strike groups, to the Mediterranean Sea, Red Sea, and possibly 'the Strait of Hormuz. French officials have been in consultation with European, Asian, and Gulf 'Arab countries over the last week to develop a plan to eventually have warships escort oil tankers through this strait. Trump stated on Thursday that the U.S. is?willing' to escort vessels through the Strait?of Hormuz in order to protect them against Iranian attack. His administration is looking for ways to reduce high oil prices caused by the U.S. and Israeli war on Iran. (Reporting from Bhargav Asharya in Toronto, and Milana Vinn, in New York. Editing by Toby Chopra. Sergio Non. Rod Nickel.)
Canada's mild winter interrupts crucial ice roadway to remote Arctic diamond mines
An unusually warm winter in Canada this year has postponed the opening of a 400kilometer ( 250mile) ice road that is rebuilt every year as the primary avenue for Rio Tinto, Burgundy Mines, and De Beers to access their diamond mines in the remote Arctic area.
The Winter Road, which serves the region available just by air for 10 months of the year, opened with a two-week delay in the middle of February, interrupting movement of items along the ice road developed over 64 frozen lakes.
Earlier today, the Tlicho federal government in Northwest Territories (NWT) restricted motion of commercial trucks for few days in among the winter roadways due to awaited warmer weather throughout the North Servant Region.
While diamond production remains unaffected, the hold-up underscores the difficulties that companies face as the mines that make Canada the world's third biggest diamond manufacturer pertained to the end of their efficient life.
It also highlights the facilities difficulty for the NWT and Nunavut that are placing themselves as the next frontiers in the exploration of vital metals, such as rare earth, cobalt and lithium, in the shift to a greener future.
The hold-ups in developing the Winter Road, which initially became operational in 1982, have taken place in the past, but this year's. is the longest delay recently, according to Tom Hoefer,. senior advisor to the NWT and Nunavut Chamber of Mines.
We did begin the road a bit later on as an outcome, he stated.
Environment modification, driven by the burning of fossil fuels,. coupled with the development of the natural El Nino environment. pattern, pushed the world into record heat area in 2023.
The effect of El Nino this year led to Yellowknife, the. capital of the NWT, taping an optimum temperature of no. degrees Celsius (32 degrees Fahrenheit) in December and minus. 8.7 degrees Celsius (17.6 F) in February, making it the warmest. winter season days in a decade, according to data from Environment. Canada.
The Winter Road opens in between late January and early April. and requires minimum of 29 inches (74 cm) of ice for automobiles. that can bring 26,000 kilograms (57,320 lbs) of gross automobile. weight, to carry diesel and dynamite required to operate the. mines.
On warmer days, the engineers have found methods to technique. nature by developing artificial ice utilizing huge sprinklers to. spray water high up in the air so that they cool and form thick. layer of ice when they fall.
Paul Gruner, CEO of the Native corporation Tlicho. Investment Corp & & Group of Companies stated this year the warm. winter season at the start and if there is a warmer end of the season. or an early spring, it might run the risk of an early closure.
So when you're munching away on both sides of that, you. start to create a very brief season, Gruner said.
The Winter Road is jointly run by Burgundy Diamond. Mines, Rio Tinto and De Beers of Anglo American group. which run the Ekati, Diavik and Gahcho Kue diamond mines. respectively.
De Beers and Burgundy Diamonds stated operations at their. mines have not been affected by the mild winter season. Rio Tinto. decreased comment.
The Winter Road costs C$ 25 million ($ 18.54 million) to. operate for two months, which is shared by the 3 business. based upon goods transferred on the roadway and distance took a trip.
Nevertheless, the mines have a functional life of around 20. years and as they reach completion of life, they need to be shut. down.
Rio Tinto has said it will close the Diavik mine in 2026. and De Beers prepares to shut Snap Lake end of this year, while. seeking to extend the life of Gahcho Kue.
CHICKEN AND EGG
Canada's remote Arctic region, home to around 86,000 individuals,. is facing the complete closure of all the diamond mines by 2030. and is looking for ways to keep mining alive.
The lack of facilities is an obstacle and the reduced. seasonal usage of the ice road could harm financial investments needed to. my own critical minerals.
If you're in the expedition stage ... and taking a look at utilizing. the winter road as part of your core organization design, the threats. begin to come into ... your choice making whether or not to. advance a task, Tlicho Investment's Gruner stated.
Hoefer of NWT and Nunavut Chamber of Mines stated the 2. Northern territories, which are as huge as Europe, have the. highest facilities deficits in Canada - among the reasons. for the extremely high expenses of living and doing company in the. North.
It is a chicken-and-egg situation, the mining business. most likely won't come unless there is some infrastructure, it's. just too expensive, stated Heather Exner-Pirot, director of. Energy, Natural Resources and Environment program at. Macdonald-Laurier Institute.
It costs C$ 3 million a kilometer to develop gravel roads,. Pirot said.
Mining groups are pushing for a mega facilities project. that connects NWT to Nunavut that goes through the diamond mines. could assist unlock the mineral riches in the area. A minimum of 23. of the 31 crucial minerals listed by the Canadian federal government is. discovered in the NWT.
When the task turns up, it would change the roads that. have actually served mining for 40 years, however up until that happens, the ice. roads are needed, Hoefer stated.
(source: Reuters)