Latest News
-
Who are the Greenland, Denmark and Trump team foreign ministers?
Greenland’s Foreign Minister Vivian Motzfeldt, and her Danish counterpart Lars Lokke Rasmussen met with U.S. Secretary of State Marco Rubio and Vice President JD?Rubio in Washington on Wednesday. This is despite President Donald Trump's repeated threat to seize Greenland. Analysts have described it as the most significant meeting in Danish modern history. The two ministers are working on the crisis for the Kingdom of Denmark. GREENLAND’S FOREIGN MINISTER VIVIAN MOTZFELDT Vivian Motzfeldt grew up in southern Greenland as the daughter of a sheep farmer. According to an interview that she gave to Sermitsiaq, she attended boarding school at the age of seven and then went to America on a student exchange program when she was 17. She worked as a Greenlandic teacher from 1997 to 2014?before she entered politics. She is married with four children. Motzfeldt is the minister of foreign affairs of Greenland since 2022. He previously served as speaker of Inatsisartut (the parliament of Greenland) and chair of the constitutional committee of Greenland. Motzfeldt is a politician who knows how to play the game, according to Mette Marie Staehr, an assistant professor from the University of Copenhagen, who analysed her social media posts. Motzfeldt did not hesitate to criticize Denmark publicly when she felt Greenlandic interest were being ignored. Harder stated that "if she has a good case, she will not be afraid to take on whoever she may have to face." Motzfeldt repeatedly stated that Greenland is not interested in joining the United States, but is open to greater cooperation. Sermitsiaq reported her saying, "My greatest wish is that this meeting will result in a normalisation our relationship." LARS LOKKE RASMUSSEN, DENMARK’S FOREIGN MINISTER Lars Lokke Rasmussen is 61 years old, and has served as Denmark's Foreign Minister since 2022. He was twice prime minister of the country, and also a former Finance Minister. He is a law graduate and a highly skilled negotiator. From 2009 to 2011, he was the leader of a center-right coalition, and from 2015 to 2019, he was the head of Denmark's Liberal Party. After his government lost in the 2019 elections, he resigned and formed a new group of centrists, the Moderate Party. He is now its leader. Rasmussen, a'strong advocate of the rule of law both at home and abroad', adheres to "pragmatic idealism" in foreign affairs, which means that Denmark should view the world as it is and be realistic and pragmatic, while maintaining the principles of democracy, and human rights. He has faced many controversies in his long career, including the use of party funds on underwear, drinks and taxis. But he always bounced back with a humble image that is appreciated by most Danes. Reporting by Stine Jacobsen and Anna Ringstrom, editing by Terje Solsvik & Alison Williams.
-
OPEC data indicates that Russian oil production will decline by 0.7% in 2025.
OPEC's monthly?data on Wednesday showed that Russian oil production dropped by 0.7% to 9.129?million bbls per day. Russia has'managed' to keep its oil production largely steady, and this, along with natural gas, accounts for about a quarter (or more) of the federal budget tax revenues, despite drone attacks by Ukraine against energy infrastructure, as well as lower crude prices. Russia is a part of OPEC+, a group of leading oil producers that decided earlier this month to maintain its?production steady. The oil price dropped by more than 18% in 2025, the steepest drop since 2020. According to OPEC, the Russian oil production fell by 73,000 bpd in December to 9.304 millions bpd. OPEC's monthly report also stated that Kazakhstan's oil production last month fell by 237,000?bpd, to 1.522 millions bpd. The data revealed that Central Asia's oil production?rose from 1.539 millions bpd in 2024 to 1.776million bpd?last year. According to a source in the industry, the oil and gas condensate production in Kazakhstan fell by 35% between January 1-12 compared to December's average. This was primarily due export restrictions via a Black Sea Terminal. Reporting by. Mark Potter (Editing by Mark Potter).
-
CDP data shows that Japanese companies are leading in climate leadership
22% of companies achieve 'climate Leadership' More companies signing up for SBTi helps CEO: Corporates continue to move forward despite politics By Sharon ?Kimathi LONDON (Jan 14) - Japanese companies topped a ranking of corporate climate efforts, in part due to the fact that?more? have had their targets?signed off by an independent validator. Non-profit data tracker CDP announced this on Wednesday. Japan topped the list with 22% of its companies having achieved what CDP defines as "climate-leadership", followed by UK with 17% and the European Union with 16%. China and Southeast Asia were at 8%. CDP is the only independent system in the world that assesses companies' environmental awareness, management practices and transparency. CDP Chief Executive Sherry M. Madera stated that the?targets are also checked to see if they have been approved by the Science-Based Targets Initiative, a 'leading independent standard-setter. This is what helped the Japanese companies outperform. She said that despite the recent climate regulation rollbacks by the U.S., and Europe, and the geopolitical, economic, and political uncertainty, the rankings still showed global companies prioritising sustainability. The companies were also evaluated on their climate, water, and forest performance. This includes emissions and climate strategy; water use and risk management; and deforestation in key commodities such as palm oil and soy; timber and cattle. The report revealed that the majority of companies achieving the highest levels of performance on water and forests, as well as the majority of those who are?leading in climate change issues, tied their executive pay to environmental goals. Madera said that "perhaps companies are becoming more quiet when they celebrate their market wins, but they are still working toward sustainability. Year-on-year the leaders of the Corporate Health Check have been the ones to link their executive compensation with climate leadership, and this trend has solidified." (Reporting and editing by Simon Jessop, Tomaszjanowski)
-
Gold and silver reach historic highs amid geopolitical tensions and Fed uncertainty
Silver broke $90 for the first time and gold jumped to an all-time high. The escalating tensions in Iran, coupled with concerns about the Federal Reserve’s autonomy, fueled demand for safe havens, while lower inflation numbers boosted bets on rate cuts. Gold spot rose by 1.1%, to $4,636.78 an ounce, at 1210 GMT. This was after the gold price had reached a session high of $4.639.48. U.S. gold futures for delivery in February rose by 1% to $4643.90. Jamie Dutta is the chief market analyst for?Nemo.money. He said that prices are rising because of "well-known haven characteristics" amid increased geopolitical risk, elevated 'fiscal uncertainties, and concerns over Fed independence. The Federal Reserve Chair Jerome Powell was backed by central bankers from all over the world on Tuesday, issuing a unprecedented statement of support after the Trump Administration threatened him with criminal charges, a move that could reduce trust in U.S. investments such as the dollar. Dutta said that "protests in Iran maintain geopolitical tensions, resulting in a strong demand for bullion." HRANA, a rights group based in the United States, said that the death toll has now reached 2,571, sparking U.S. threats of intervention. The Bureau of Labor Statistics reported on Tuesday that the core Consumer Price Index in the United States rose by 0.2% from one month to the next and 2.6% over the past year. Powell, the Fed's chairman, reiterated President Donald Trump's call for Powell to "meaningfully" cut interest rates. The traders expect two rate cuts in this year. Low interest rates are usually in favour of non-yielding gold. Spot silver rose 4.8%, to $91.11 an ounce. This is a drop from the previous record high of $91.53. It has risen by nearly 27% within just 14 days this year. Forecasts Many other large?brokers expect gold prices to rise above $5,000 an ounce by the second half 2026. Expecting Similar numbers are attributed to global unrest. After touching a session high of $2,403.26 per ounce earlier, spot platinum rose 3.4%. It hit a record $2,478.50/oz on December 29. Palladium increased 0.1% to $1.841.80 per ounce.
-
Caledonia will spend $132m on Zimbabwe's largest gold mine in this year
Caledonia Mining Corporation announced on Wednesday that it will spend $132m this year to launch the development of Zimbabwe's biggest gold mine once it is operational. The record gold prices are helping miners expand production. Gold spot prices reached a new record of $4,639.48 per ounce on early Wednesday. This was fueled by the escalating tensions in Iran, concerns over the Federal Reserve’s autonomy, and softer inflation data that boosted bets for rate cuts. Caledonia stated in a production report that the planned expenditure, which is part of an overall capital expenditure programme of $162.5 millions for 2026, was subject to approval by the board and funding availability. Caledonia, which already operates ?the 80,000-ounce-per-year Blanket mine in Zimbabwe, plans to develop the Bilboes mine at a projected total capital cost of $584 million. The new mine will begin production in late 2028. A steady-state annual output of 200,000 ounces is anticipated starting from 2029, for an initial 10 year period. The company has said that it will fund the Bilboes Project through a combination of senior non-recourse debt, contributions made by existing operations, and specialised financing methods, such as streaming. In this method, investors provide cash in exchange for future metal supplies. Caledonia’s expansion plans got a boost last month after Zimbabwe’s government reversed its plans to double gold royalty rates and change the taxation of capital expenditure. (Reporting and editing by Nelson Banya, Joe Bavier and Chris Takudzwa Muronzi)
-
Copper falls from record highs due to physical demand
The copper price hit a new record on Wednesday, thanks to persistent demand by speculative funds. However, some investors were concerned that the high price would discourage industrial buyers from buying. The benchmark three-month copper price on the London Metal Exchange fell 0.1% to $13,176.50 per metric tonne by 1030 GMT after reaching a record high of $13,407. LME copper prices have risen by 44% in the last 12 months. This is due to disruptions at the mines and concerns about deficits for this year. Also, a large flow of metal has been sent to the U.S. before potential tariffs which could tighten supply elsewhere. "With all the?concerns? about debasement and financial risks, as well as Fed independence, these hard assets are just sensational," Ole Hansen, head commodity strategy at Saxo Bank, in Copenhagen, said. There's a limit to industrial metals, where we?hit a wall when it comes to potential demand destruction. I don't even know where this level is or if it's already reached. He said that if you look at the?technical signal, a closing below $13,000 will cause a downward reaction. Hansen stated that the copper demand in China appeared to be stable and there was a potential for stocking before the Lunar New Year holiday. After hitting a record high of 105.650 yuan, the most-traded contract for copper on the Shanghai Futures Exchange ended daytime trading 0.9% higher, at 104.120 yuan per ton ($14.931.88). Investors bet that demand for tin, which is used in semiconductors, will grow rapidly as a result of the artificial intelligence boom. SHFE tin rose 8%, reaching the upper limit of 413,170 Yuan. LME tin increased 4.1%, to $51,550. The fundamentals of tin have not changed dramatically. Jing Xiao said that the price rally was fueled by speculative trading. Tom Langston?at The International Tin Association?agreed that supply-demand metrics had not changed, noting the record interest rates on the LME. Other metals saw a 0.1% increase in LME aluminium to $3.200 per ton. Zinc rose 1% at $3.232. Lead added 0.4% at $2.069, and nickel climbed 1.7% to 17.995.
-
Malaysia's state utility signs a deal to send energy from Laos and Singapore, revitalizing a cross-border project
Malaysia's state-run utilities firm signed a 2-year energy - agreement to transmit electricity from Laos into Singapore. This deal revives a Southeast Asian multilateral power trade - agreement that has been stalled since the year 2024. Tenaga Nasional Berhad, in a filing to the bourse on Wednesday, said that Energy Wheeling Agreement Phase 2 is part of a project to integrate power from Laos with Thailand, Malaysia, and Singapore. This will allow up to 100 megawatts in Laos to supply power via Thailand and Malaysia to Singapore using existing transmission links. The first phase was signed in 2022 with a validity of two years that ended June 22, 2024. Malaysia's Energy Minister in October last said that the delay was due to?local political changes in Thailand. According to an agreement signed Wednesday, the state utility Electricite?Du Laos pays TNB for wheeling?services in order to transmit energy produced in Laos from Singapore. The deal is part ?of the second phase of ?the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project, which is a precursor to a ?broader ASEAN Power Grid initiative aiming to connect all ten member states and tackle the region's growing reliance on fossil fuels. (Reporting and editing by David Stanway; Ashley Tang)
-
Gold and silver reach historic highs amid geopolitical tensions and Fed uncertainty
Silver broke through $90 for the first time and gold reached a new record on Wednesday. The escalating tensions in Iran, along with concerns about the Federal Reserve’s autonomy, fueled demand for safe havens, while lower inflation numbers boosted bets to cut rates. Gold spot rose 0.9%, to $4,627.72 an ounce, by 1001 GMT. This was after the gold price had reached a session high of $4.639.48. U.S. gold futures for delivery in February rose by 0.8% to $4 636. Jamie Dutta is the chief analyst at Nemo.money. He said that prices are rising because of "well-known haven characteristics" amid increased geopolitical risk, fiscal uncertainty and concerns over Fed independence. The Federal Reserve Chair Jerome 'Powell was backed by central bankers from around the globe on Tuesday. They issued an unprecedented statement of support after the Trump administration threatened to indict him, which could have a negative impact on the trust that people place in U.S. assets like the dollar. Dutta said that "protests in Iran maintain geopolitical tensions, resulting in a strong demand for bullion." HRANA, a rights group based in the United States, said that the death toll has reached 2,571, sparking threats from?U.S. intervention. The Bureau of Labor Statistics reported on Tuesday that the core Consumer Price Index in the United States rose by 0.2% from one month to the next and 2.6% over the course of a year. Powell, the Fed's chairman, has been urged by President Donald Trump to reduce interest rates "meaningfully". The traders expect?two rate cuts in this year. Low interest rates are usually in favour of non-yielding gold. Spot silver rose 4%, to $90.46 an ounce. This is down from a record high of $91.53. It has risen by nearly 27% within just 14 days of this year. Dutta stated that "long-term targets" are big numbers like $5,000 and $100 respectively for gold and Silver. After touching a session high of $2,406.75 per ounce earlier, spot platinum rose 3.5%. It hit a record $2,478.50/oz on December 29. Palladium increased 0.1%, to $1840.19 per ounce. (Reporting and editing by Clarence Fernandez in Bengaluru, with Pablo Sinha reporting from Bengaluru)
Prices for EUROPE GAS rise and reverse earlier losses
Dutch wholesale gas prices increased on Wednesday. They reversed earlier losses due to concerns about liquefied gas (LNG) supply if tensions escalate in Iran.
LSEG data shows that the benchmark Dutch front-month 'contract' at TTF hub is up?1.42 Euros?at 32.55 Euros per megawatt hour by 1213 GMT.
This is the highest level recorded since October 7, last year.
The Dutch March rate was 31.66 Euros/MWh, an increase of 1.28 euros.
The British day-ahead contract was down 0.40 pennies at 82.80 pence/therm.
Iran warned its neighbours that it could strike U.S. military bases if Washington interferes with protests, despite the fact that weather forecast revisions showed?milder temperature than before and a strong supply.
Gas?traders said that the market was nervous about the situation in Iran and possible risks to LNG supply.
The oil price also rose for the fifth consecutive session due to fears that Iranian supplies could be disrupted by a possible U.S. strike on Iran, and possible retaliation on U.S. interests in the region.
Analysts at LSEG said that the gas storage levels in North-West are likely to fall below 100 terawatt hours on March 1. This would be a positive factor.
Prices fell this morning due to increased LNG exports and Norwegian?exports as well as lower demand forecasts for the coming days.
LSEG data shows that the local distribution zone gas demand for north-west Europe is expected to decrease by 296 gigawatt-hours/day (GWh/d), to 3,600 GWh/d, in the next day.
Wind speeds that are stronger than normal will also reduce the gas consumption of gas-fired plants.
The benchmark contract on the European carbon markets was up by 0.13 euros at 90.87 euro per metric ton. (Reporting and editing by Nina Chestney, Susanna Twidala)
(source: Reuters)