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Israeli airstrikes kill 4 in Gaza after new ceasefire talks
Israeli airstrikes in Gaza Strip killed at least 4 Palestinians on Monday, according to health officials, while mediators met with Hamas leaders to reinforce a U.S.-brokered ceasefire agreement. Three men were killed by the strike, according to medics. The strike was launched at a group outside a Deir al-Balah school in central Gaza Strip. They added that a second strike in Gaza City killed one person and wounded another. The Israeli military has not commented on either incident. In Deir al-Balah's Al-Aqsa Hospital, relatives and friends gathered to say goodbye as the dead bodies were covered in white shrouds. Some people kissed their foreheads and held special prayers before they laid the bodies of those killed on the ground in white shrouds outside Al-Aqsa Hospital in Deir al-Balah. "This is not a truce, it's a trap for our young men. Every single day, there are martyrs. "How long can this go on?" asked Umm Hussam Abu El-Rous a female relative of one of those killed. "Isn’t it unfair that a child of three years old is afraid to see his (dead father)? She?added that he said, "My father went to the shop to bring me something." The ceasefire, which began in October last year, ended two years of war. However it left Israeli troops in charge of a?depopulated zone delineated by yellow-painted block that?makes up over half of Gaza. Hamas is in power on a narrow strip of coastal land and Israeli airstrikes continue. Since the agreement came into effect, more than 750 Palestinians were killed. Meanwhile, militants killed four Israeli soldiers. Israel and Hamas are trading blame for ceasefire violation. Palestinians claim that Israeli forces have moved some yellow concrete markers to the west. Israel denies that this has happened. HAMAS DISARMAMENT IS AN OBSTACLE The violence occurs as Hamas leaders and other Palestinian factions meet in Cairo since Saturday with mediators from Egypt and Turkey to discuss implementing phase two of the Gaza agreement. According to a plan proposed by President Donald Trump’s Board of Peace in the United States, a U.S. backed?committee of Palestinian technocrats would take control of Gaza and require Hamas to disarm in phases over a period of eight months. Hamas disarmament is a major obstacle in the progress of Trump's Gaza ceasefire plan and deal. This has also been affected by the war in Iran. Hamas told two officials who were present at the latest talks that the discussions on disarmament would only be possible after Israel implemented the first phase in Trump's October agreement, which included a ceasefire of all sorts in Gaza. Israeli military officials said that they are preparing to return to a full-scale war if Hamas doesn't lay down its arms. According to Israeli statistics, the Gaza?war started on October 7, 2023 with a Hamas led attack on Israel, which killed 1200 people. According to Gazan authorities, Israel's two-year war left Gaza in ruins and killed over 72,000 Palestinians. Reporting by Nidal Al-Mughrabi from Cairo and Mahmoud ISSA in Gaza, Editing by Aidan Lewis and Rod Nickel
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Sources: HSBC hires ICBC Standard Bank's trader to head global metals trading
Two sources familiar with the matter said that HSBC is hiring Mark Augustynak to head its global metals business. Augustynak was a metals 'trader' at iCB Standard Bank. HSBC is a market-maker and clearer, alongside ICBC Standard Bank and JPMorgan, in London. This is the world's biggest over-the counter gold trading hub. Market?players are able to trade directly between each other, rather than through an exchange. One source said that Augustynak is expected to join HSBC by mid-2026. He has 20 years' experience in linear precious metal trading. HSBC didn't immediately respond to a comment request sent outside of normal?business hours. HSBC is looking for a new metals?trading head after Vincent Domien, a gold investor who joined the crypto group Tether in late 2025, left to join. Sources told us last month that Tether let Domien leave in March. Two sources confirmed that Domien will be joining ICBC Standard Bank as the?head metals trading. Reporting by Polina Devlin; editing by Veronica Brown, Chizu Nomiyama
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Codelco copper prices in Chile rise due to Middle East conflict
Codelco's Chairman Maximo Pacheco said that despite the price increases due to the Middle East conflict, the firm was still on track to reach its 2026 production target. The company hopes to increase production to 1.7 millions tons by 2030 after falling to a quarter century low in 2022-2023. However, the Middle East war pushed Codelco’s cash costs up by at least ten cents per pound. "That's a lot," Pacheco stated. He added that the biggest challenge facing the industry was operational continuity. "We've seen copper production becoming more difficult every day," he said. Codelco was able to protect itself from rising prices by purchasing enough sulfuric acid to last the entire year. Pacheco stated that "we can weather the current situation with sulfuric acid relatively easily." Codelco produced 271 300 tons of copper in the first quarter. This was a slight drop from last year, but still within expectations, Pacheco stated. He refused to give an estimate of when El Teniente would reach its production capacity after an accident at the "flagship" mine last year killed six workers. He said, "It will take us as long as we need to do extensive geosciences, modeling and redesigning of our mining plan." Codelco estimated that it would take eight years for the mine to reach its capacity before the accident. Pacheco said that the Middle East conflict has not hurt the demand for copper. The fundamentals are still strong in the world and Codelco's shipment haven't changed much. He said that Codelco was open to the possibility of assisting in the transport of copper from Argentina where several mines were under development. He said: "I think there will be a point when they bring it up to discuss." (Reporting and Writing by Fabian Cambero; Editing by Brendan O'Boyle).
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French central bank forecasts 0.3% growth in the first quarter
In its monthly outlook, the central bank said that France's economy grew slightly faster in the first quarter as businesses placed orders ahead of anticipated price increases following the outbreak of the Middle East?war. Bank of France forecast that the euro zone's 2nd largest economy will likely grow by 0.3% in the second quarter of this year, up from 0.2% growth in the last quarter of the previous year. This is consistent with earlier estimates. Francois Villeroy De Galhau, Governor of the Central Bank, said that the outlook is in line with the central bank's prediction that the economy would grow by 0.9% this coming year "despite the uncertainty linked to the conflict?in the Middle East". The central bank, using its monthly survey of 8,500 companies, said that activity in industry, services, and construction held steady in March, with factory output exceeding expectations for the previous month. Aeronautics and nuclear power, as well as defence, were all strong sectors in the manufacturing sector, and services and construction remained generally supportive. The central bank did warn that the conflict in?the Middle East is weighing down on sentiment. Businesses are more cautious about April. Uncertainty indicators have risen to levels last seen in the early months following Russia's invasion of Ukraine. As transport disruptions and rising energy costs rippled throughout industry, Villeroy also flagged new supply-chain strains. He said that more firms were signaling they would increase their prices in April. The survey showed that while?11% industrial companies increased prices in March, this was in line with historic norms. This month, it is expected to increase to 23%. Reporting by Leigh Thomas, Editing by Peter Graff
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US-Iran talks of peace falter as US dollar gains strength
Gold prices fell on Monday due to a'stronger dollar' and renewed inflation concerns, which clouded future interest rate cuts following the collapse of the U.S. - Iran peace talks over the weekend. As of 1:37 pm, spot gold was down by 0.3% to $4,734.50 an ounce. ET (1737 GMT), having hit its lowest level since April 7, earlier in the session. U.S. Gold futures settled at $4,767.40, a?0.4% decrease. Holders of other currencies will now pay more for metals priced in greenbacks. It's a headline-driven market. "All eyes are on crude oil price because crude oil will direct inflation, and that will direct Federal Reserve policy," said Phillip Streible. Chief market strategist at Blue Line Futures. After the negotiations failed, the U.S. The military announced that it would blockade ships leaving Iran's port, while Tehran warned of retaliation against its Gulf neighbours. The announcement sparked a spike in oil prices, which fueled inflation fears and limited the ability of central banks to lower interest rates. The higher rates make zero-yield gold less appealing, despite the fact that it is a good inflation hedge. According to CME's FedWatch Tool?, the markets now expect a rate cut in the U.S. by year-end. This is down from 40% one month ago. Since the U.S. and Israel?war on Iran began on February 28, spot gold has dropped over 10%. Analysts at SP Angel stated that they saw the war-induced gold selloff as a positive for its long-term prospects. They noted that speculative positions had been reduced. Silver spot was down 0.2% to $75.71 an ounce. In a recent note, Paul Wong, market strategist for Sprott Asset Management said that uncertainty over the future of oil supply will likely drive a'strong structural demand' for silver, through increased investment in solar photovoltaics. Palladium rose 3%, to $1,566.15, while platinum gained 0.3%, to $2,050.80. Ashitha Shivaprasad reported from Bengaluru, and Jonathan Ananda, Diti Pjara and Janane Venkatraman edited the article.
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KoBold, a US-backed company, launches a $50 million lithium exploration campaign in Congo
KoBold Metals has announced that it will spend more than $50,000,000 by the beginning of 2027 to launch a lithium exploration campaign in Democratic Republic of Congo. The company is backed by Jeff Bezos, Bill Gates and other?billionaires. In an effort to reduce China's dominance in the global market for minerals, the United States has given Congo a high priority in its efforts to stockpile vital minerals. The country is Africa's biggest copper supplier and the top cobalt producer in the world. It also has vast, but mostly unexplored, lithium reserves. This makes it an important part of global supply chains, especially for electric vehicles. Last year, the U.S. signed a formal agreement to work with Congo's Government. KoBold is an AI-driven mining company already active in copper exploration. The lithium exploration program spans 13 exploration licences, and includes airborne surveys across 30,000 sq km (18,640 sq mi), extensive drilling, and large-scale geological sampling. Lithium is the primary target. Kurt House, KoBold's chief executive, said that the company had already paid over $20 million in taxes to the Congolese government, making it one of the biggest new investors in exploration in central Africa in recent years. House stated in a press release that "A year before, KoBold had no employees or land in Congo." Today, we are the biggest American investor in the Congo and have launched 'the most ambitious mining exploration programme ever attempted. The campaign focuses on the 'Manono region' of Tanganyika Province, which is home to some world-class lithium pegmatites. It's expected that KoBold will expand its licence footprint by about 5,000 square kilometers by the end of this year. AVZ Minerals, based in Australia, is pursuing international arbitration to determine the rights to the Manono Block. The company claims that a July agreement reached between the Congolese Government and KoBold breaches an existing order. Previous reports?that China’s Zijin would start Congo’s first lithium production in June will be based in the northeastern region of Manono. KoBold uses proprietary airborne sensors and real-time AI updated drilling targets, as well as a mobile lab to accelerate exploration.
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Dominican Republic rains forces 30,000 to evacuate; 3 deaths reported
Over the past few days, 30,000 people in the Dominican Republic have been forced to evacuate their homes due to torrential rainfall from weather systems which have been hovering over the Caribbean nation for over a month. Three people were reported dead by local media, including a girl aged seven who was trying to cross a stream, a man aged 19 who attempted to cross the river on horseback and an infant girl, who died in the capital when the wall of her house collapsed because of the rain. The office of President Luis Abinader said that the government's priority is to protect lives, property, and infrastructure at this time. They urged people to stay clear of vulnerable areas. Abinader declared an?emergency' in five provinces and the capital. The Emergency Operations Center Director Juan Manuel Mendez had told a news conference a day earlier that 30,500 people were evacuated. 14 communities had been left isolated. 6,100 homes flooded. Highways and bridges also suffered damage. Gloria Ceballos, the chief of the Meteorological Institute, said that rains would continue on Monday. She noted that they should be a little less intense before intensifying on Saturday. She said, "We have a frontal storm system that is stationary in the Northeast." The soil is already saturated. "We have experienced 45 days of rain in some areas of the country." Authorities in the U.S. territory of Puerto Rico warned that heavy rains and thunderstorms could cause urban flooding on Monday. Reporting by Paul Mathiasen, Ricardo Arduengo and Sarah Morland from Mexico City to Santo Domingo; editing by David Gaffen
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US-Iran talks of peace falter as US dollar gains strength
Gold prices fell 'on Monday due to a'stronger dollar, and renewed inflation concerns that clouded future interest rate cuts following the collapse of the U.S. - Iran peace talks over the weekend. As of 11:36 am, spot gold was down by 0.8% to $4,711.24 per ounce. ET (1536 GMT), having hit its lowest level since April 7, earlier in the day. U.S. gold futures fell 1.1% to $4733.40. As the U.S. Dollar climbed, metals priced in greenbacks became more expensive for holders of other currencies. It's a headline-driven market. "All eyes are on crude?oil, because crude oil will direct inflation and Federal Reserve policy," said Phillip Streible. After the negotiations collapsed, the U.S. military announced that it would blockade ships from Iran's port. Meanwhile, Tehran has threatened to retaliate by attacking the ports of its Gulf neighbors. Following the announcement, oil prices rose above $100 per barrel, fueling inflation fears and limiting central banks' ability to reduce interest rates. The higher rates make?zero yield bullion less appealing, despite the fact that it is a good inflation hedge. According to CME's FedWatch Tool (formerly 40%), the market now expects a U.S. interest rate cut by year-end. This is down from 40% one month ago. Since the U.S. and Israel war against Iran began, February 28, spot?gold is down 11%. Analysts at?SP Angel stated that they saw the war-induced gold selloff as a positive for long-term gold prospects. They said this was because speculative positions had been reduced. Silver spot fell 2.5% to $73.97 an ounce. Paul Wong of Sprott Asset Management said that uncertainty over the future supply of oil is likely to lead to a strong demand for silver, resulting from accelerated investment into solar photovoltaics. Palladium rose 1.1% to $1,538.00, while platinum fell 0.8%. Ashitha Shivaprasad, Bengaluru (Reporting and editing by Janane Vekatraman, Jonathan Ananda).
Minister: Greece will deploy record number firefighters this year due to global warming
Greece's climate crisis minister announced on Thursday that the country will deploy an unprecedented number of firefighters in anticipation of "bad scenario" scenarios. This comes after a series of destructive wildfires.
The World Meteorological Organization said that the weather has become more extreme and erratic due to climate change. 2024 was also the hottest recorded year.
The summers in Greece are becoming increasingly hotter and drier, while the winds change rapidly, causing more destructive wildfires. In August last year, Greece experienced its hottest summer ever. A woman was killed and 10,000 acres of land burned in a wildfire which raged from a forest to the northern suburbs of Athens.
Giannis Kefalogiannis, Minister for Civil Protection and Climate Crisis, said that this year there will be 18,000 firefighters, the highest number ever, with thousands of volunteers.
He said: "We should not be fooled that the climate conditions seem milder this year than they were in previous years." "The worst scenarios are yet to come."
Kefalogiannis' comments were made during a discussion with Greek Prime Minister Kyriakos Mistitakis about preparations ahead of the official wildfires season that begins on May 1.
Last year, Greece decided to change its traditional firefighting strategy and began dispatching air and ground forces within the first few hours of a fire breaking out. It also increased patrols. These measures have helped contain damages to land and property.
The Mediterranean nation has also allocated around 2 billion euros ($2.3billion) for the purchase of new aircraft, weather stations and drones in order to improve their capabilities against wildfires.
Kefalogiannis said that 80 drones equipped with thermal cameras, nearly twice as many as last year, will be available in 2019. The aim is to speed up the detection of forest fires. ($1 = 0.8783 euro) (Reporting and editing by Gareth Jones).
(source: Reuters)