Latest News
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Official: India does not plan to increase coal power beyond 2035.
A top official in the power ministry said that India has no immediate plans to increase coal power generation beyond 2035. Pankaj Agarwal told an audience at a power ministry function that India wants to meet its energy needs. "By 2035, our goal is to have coal capacity of 307 Gigawatts." He said that it was "premature" to predict what the future holds beyond 2035. India proposed this year to increase its coal power by 46%, from its current 210 GW. It also doubled its non-fossil energy capacity of 500 GW. Agarwal stated that the coal power plans were in line with India's energy needs. India has reduced power production for the majority of this year due to grid challenges caused by the integration surplus clean energy in the grid. Agarwal said that the country could decide to add more coal capacity once it has studied the power demand growth and the rate of integration of renewable energy into the grid for three years. He said that India should evaluate grid challenges as well as the costs of storing clean energy in batteries before adding additional coal capacity after 2035. The annual decline in India's coal-fired electricity generation, which accounts for 75% of its output, was the highest since 2020, as the mild weather decreased cooling demand. Even so, some Indian utilities have signed long-term contracts to purchase coal-fired generators in order to meet the projected increase in evening demand. Reporting by Sethuraman NR from Delhi and Jayshree Upadhyay from Mumbai; editing by William Mallard
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Israeli soldiers kill a 55-year old Palestinian and teen in West Bank
According to an Israeli official, Israeli soldiers killed a Palestinian teen who was driving his car toward them and a Palestinian passerby in the West Bank Saturday. The military claimed that a "non-involved" person was also hit, in addition to a driver who "accelerated" his car towards soldiers at a Hebron checkpoint. The military initially claimed that two "terrorists", who were shot by soldiers, had been killed, but later clarified that it was only one. Unidentified Israeli security officials said that a 17-year old was driving and a 55 year-old bystander. The Palestinian news agency WAFA said that Ziad Nim Abu Dawood (55), a 55-year old municipal street cleaner who was working, died while doing his job. The report said that another Palestinian had been killed, but it did not mention the circumstances which led the soldiers open fire. The Palestinian Ministry of Health identified the second Palestinian, Ahmed Khalil Al-Rajabi, as a 17-year-old. The military has not reported any injuries among the soldiers. No militant group has claimed responsibility for the actions of this 17-year old. This year, violence has increased in the Israeli-occupied West Bank. Israeli settler violence against Palestinians has increased sharply. The military has also tightened restrictions on movement and conducted sweeping raids across several cities. According to the Palestinian Health Ministry, Israeli forces have killed 51 Palestinian minors under 18 years of age in the West Bank since January. Palestinians have also attacked Israeli soldiers and civilians in some cases resulting in fatalities. Reporting by Ali Sawafta and Alexander Cornwell, both in Ramallah; editing by Christina Fincher
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Israeli soldiers kill a 55-year old Palestinian and teen in West Bank
According to a senior Israeli security official, Israeli soldiers killed in the West Bank a Palestinian teenager driving a vehicle towards them and a Palestinian passerby. The military claimed that a "non-involved" person was also hit, in addition to the driver who "accelerated" his car towards soldiers at a Hebron checkpoint. The military initially claimed that two "terrorists", but later clarified that it was only one individual. Unidentified Israeli security officials said that a 17-year old was driving and a 55 year-old bystander. The Palestinian news agency WAFA said that Ziad Nim Abu Dawood (55), a 55-year old municipal street cleaner who was working, died while doing his job. The report said that another Palestinian had been killed, but it did not mention the circumstances which led the soldiers open fire. The Palestinian Ministry of Health identified the second Palestinian, Ahmed Khalil Al-Rajabi, as a 17-year-old. The military has not reported any injuries among the soldiers. No militant group has claimed responsibility for the actions of this 17-year old. According to the Palestinian Health Ministry, Israeli forces have killed 51 Palestinian minors under 18 years of age in the West Bank since January. This year, violence has increased in the Israeli-occupied West Bank. Israeli settler violence against Palestinians has increased sharply. The military has also tightened restrictions on movement and conducted sweeping raids across several cities. Palestinians have also attacked Israeli soldiers and civilians in some cases resulting in fatalities. Reporting by Ali Sawafta and Alexander Cornwell, both in Ramallah; editing by Christina Fincher
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US envoy Kellogg claims that a peace agreement with Ukraine is very close
The outgoing U.S. President Donald Trump’s Ukraine envoy stated that a deal for the end of the Ukraine war is "really close". It now depends on the resolution of two major outstanding issues: the future in Ukraine's Donbass region and the Zaporizhzhia Nuclear Power Plant. After eight years of fighting in the Donbas region, which includes the Donetsk-Luhansk region, between separatists backed by Russia and Ukrainian troops, Russia invaded Ukraine on February 20, 2022. The Ukraine War is the deadliest European Conflict since World War Two. It has also triggered the largest confrontation between Russia and Western since the Cold War. U.S. Special Representative for Ukraine Keith Kellogg told the Reagan National Defense Forum, that the last 10 meters of the conflict are the most difficult. Kellogg stated that the two most important issues were the territory, namely the future Donbas, and the future Zaporizhzhia Nuclear Power Plant, Europe's biggest, which is currently under Russian control. Kellogg, speaking on Saturday in Simi Valley at the Ronald Reagan Presidential Library & Museum, said: "If those two issues are resolved, I believe the rest of things will go well." "We're nearly there." Kellogg said, "We are really, really close." Kellogg, retired lieutenant-general who served in Vietnam and Iraq and Panama, described the Ukraine conflict as "horrible" and unprecedented for a war in a region. Kellogg stated that Russia and Ukraine together have suffered over 2 million casualties including dead and injured since the beginning of the war. Russia and Ukraine do not provide credible estimates of losses. Moscow claims that Western and Ukrainian estimates exaggerate its losses. Kyiv claims that Moscow inflates Ukrainian losses estimates. Russia controls 19.2% Ukraine. This includes Crimea (which it annexed last year), all of Luhansk and Donetsk. It also controls more than 80% Kherson, Zaporizhzhia and about 75% Kherson. There are also slivers in Kharkiv Sumy Mykolaiv Dnipropetrovsk. Last month, a leaked set 28 U.S. peace proposals was revealed. This alarmingly bowed down to Moscow's demands, including Russian control over a fifth part of Ukraine, and restrictions on Ukraine’s army. According to the Kremlin, these proposals, of which Russia says they now contain 27 points have been divided into four components. It is not known what the exact content of these proposals are. According to the initial U.S. proposal, the Zaporizhzhia Nuclear Plant, whose reactors currently are in cold shutdown would be relaunched, under the supervision and control of the International Atomic Energy Agency. The electricity produced would then be shared equally between Russia, Ukraine, and other countries. The Ukrainian president Volodymyr Zelenskiy stated on Saturday that they had a "substantive and long" telephone call with Steve Witkoff, Trump's Special Envoy and Jared Kushner, Trump's Son-in-law. The Kremlin stated on Friday that it expects Kushner will be the one to do most of the work in drafting any possible deal. (Reporting and editing by Elaine Hardcastle in Moscow, with Guy Faulconbridge reporting from Moscow)
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Australia lowers wildfire alerts for New South Wales
The Australian authorities downgraded the alert level for wildfires on Sunday that destroyed infrastructure and homes in Australia's most populous State, burning through thousands of acres of bushland. On Sunday night, more than 60 wildfires were burning throughout New South Wales, just a day after they had destroyed 12 homes on the Central Coast Region of the state, located about 45 km (about 30 miles) north-east of Sydney, the capital and largest city in Australia. More than 350,000 people live in the region. Rural Fire Service of the state said that fires did not pose an immediate threat to residents. The alerts have been downgraded to the "advice level", which is the second lowest danger rating. Speaking on Australian Broadcasting Corporation TV on Sunday, Prime Minister Anthony Albanese said that it was fortunate that no lives had been lost during the emergency. Albanese stated that "this summer is going to be difficult, as it has been in the past." After several seasons of relative calm, authorities have warned that Australia is in for a bushfire season with high risk. Extreme heat will be forecast across large areas of the country. In a joint statement, the federal and New South Wales Labor Governments said that disaster assistance had been activated in six states regions affected by Saturday's fires which caused extreme heat. Initial assessments show that a number homes were destroyed, with extensive damage done to private property, critical assets, fencing, agricultural assets, and National Parks, according to the statement. It added that the extent of the damage would be clearer once impact assessments are completed. According to the statement, "immediate financial assistance as well as cleaning-up, reconstruction and recovery assistance" was included in the aid. Climate change has increased the risk of wildfires in New South Wales. The "Black Summer" Australian fires in 2019-2020 destroyed an entire area as large as Turkey and killed over 33 people.
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Kremenchuk mayor: Russian strike cuts utilities in the city, resulting in a Russian strike.
Vitalii Maltskyi, the mayor of Kremenchuk in central Ukraine, said that Russian forces had launched a combined airstrike overnight on infrastructure, causing water and power outages. Kremenchuk, located on the Dnipro River in Ukraine, is a major industrial center and home to a large oil refinery. The city was repeatedly targeted by Russian missiles. In 2022, a strike on a busy shopping mall killed at least 21. Maletskyi stated in a post on social media that the details of the strike's consequences would be revealed later Sunday, after damage assessments are completed. He added that city services were working on restoring electricity, water, and heating to districts where supplies had been disrupted. Russia is intensifying long-range attacks on Ukraine's water, power and heating infrastructure in advance of winter. It wants to undermine public morale and disrupt the industry. Previous cold seasons during the war had seen nationwide blackouts. The mayor posted a photo of a nighttime blaze that engulfed what appeared to be industrial buildings. He wrote: "We will restore all." Maletskyi’s report could not be independently verified. Ukraine's Air Force warned on Telegram several times over night that the city is under threat by Russian drone and missile strikes. Reporting by Lidia Kelley in Melbourne, editing by Chizu Nomiyama
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Chief Minister of Goa, India: At least 23 dead in fire that killed at least 23 people
The chief minister of Goa, India said that at least 23 people had died in a fire that broke out in a nightclub. Videos on social media showed ambulances waiting to assist the injured. Reporters were told that the incident took place around 12:04 local time on Saturday (1834 GMT) in Arpora. Chief Minister Pramod Sawant stated in a X post that the state government had ordered an investigation into this incident. The police chief stated that fire trucks and ambulances rushed to the scene after receiving information about the fire. ANI reported that the injured were transported to hospitals nearby for treatment while authorities worked throughout the night to control the situation. The police chief said that the fire was put out and all bodies were recovered. Goa is a small Indian state located on the western coast. It's a popular destination for tourists, especially foreigners. According to government statistics, Goa welcomed 5.5 million tourists in the first half year. 271 000 of these were foreign tourists. Reporting by Devika Nair Bengaluru, Kanjyik Gaosh in Barcelona and Alistair Bell & Chizu Nomiyama.
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Boeing: Trump's plan to increase the equity stake in US defense companies does not apply
Boeing's head of defense said that the plan by U.S. president Donald Trump to acquire government stakes in strategic sectors does not apply to major defence firms. This is in stark contrast to comments made previously by senior government officials. Steve Parker, CEO of Boeing Defense, Space & Security, spoke on a panel during the Reagan National Defense Forum, a yearly industry event held in Simi Valley, California. Parker said, "I don’t think it applies to the Primes", referring to large legacy defense contractors such as Boeing, Lockheed Martin and Northrop Grumman. U.S. commerce secretary Howard Lutnick announced in August that the Trump administration is considering equity stakes with major defense contractors including Lockheed Martin. This announcement sent Lockheed, Boeing, and other defense companies' shares higher. In an effort to prioritise national security, the Trump Administration has acquired equity stakes this year in chipmaker Intel, and rare earths firm MP Materials. Trump has stated that the government will invest in more companies. (Reporting and editing by Mike Stone, Joe Brock and Deepa Babington).
Guggenheim Asset Management plans Saudi Arabian presence as part Gulf Investment Push
Guggenheim Investments in the United States, which has assets worth $357 billion and is looking to expand in the Gulf, is considering opening an office in Saudi Arabia. It wants to take advantage of investment opportunities, particularly in infrastructure and transport, as part of this expansion.
The firm is based in Dubai, which is the financial and trade capital of the region. It's also pursuing a license in Abu Dhabi, home to the UAE's oil rich capital and sovereign wealth funds that manage around $2 trillion.
Anne Walsh, Chief Investment Officer at Guggenheim Partners Investment Management told the Milken Institute Middle East and Africa Summit in Abu Dhabi that she was "very, very optimistic about the region".
"I see a lot of opportunity." "I see great opportunities."
Walsh replied that Guggenheim is "actively considering" Riyadh.
"We are also looking at deploying capital in Saudi Arabia." Not just a simple office, but also actual investments in transportation equipment and infrastructure. This makes sense to us."
In November, Saudi Arabian and U.S. officials hailed billions of dollars worth of new investments as well as the growing financial ties that exist between both countries.
Gulf States have increased their efforts to diversify away from hydrocarbons in order to achieve sustainable long-term growth. They are investing heavily into non-oil industries such as financial services, tourism and technology.
Guggenheim Investments, earlier this year, became a partner in the Future Investment Initiative Institute. This institute organizes Riyadh’s annual investment conference.
(source: Reuters)