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Russia and Ukraine exchange war dead
On 'Thursday, Russia and Ukraine announced that they had exchanged their latest war dead. This is a common practice to allow the relatives of those who have died on the battlefield to bury them. In a joint statement, Russia and Ukraine said that they had exchanged 1,000 corpses of Ukrainian soldiers. Vladimir Medinsky, a Kremlin adviser, said that Kyiv handed Moscow the bodies of 38 Russian soldiers. Medinsky shared an image of the exchange on 'Telegram, showing white refrigerated vehicles parked in a snowy area near a wood. People dressed in biohazard suits were standing around. The Ukraine coordination centre for prisoner exchanges has confirmed that a body exchange took place, saying via Telegram that Russia handed Kyiv 1,000 corpses which Moscow claimed were Ukrainian soldiers. The last time Kyiv and Moscow exchanged prisoners of War was in October 2025 . Both sides accuse one another of blocking new prisoner swaps. (Reporting and Editing by Andrew Osborn).
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As the Fed rate decision nears, the dollar is steadied and world stocks are at record highs.
The dollar recovered its footing after it had fallen sharply on Tuesday, when U.S. president Donald Trump appeared to "shrug off" its recent weakness. Meanwhile, positive earnings kept the world stock market near record highs ahead of a Federal Reserve interest rate decision. The?U.S. The?U.S. European stock markets declined, but U.S. futures indicated a positive opening for Wall Street. Japan's blue chip Nikkei also gained. The MSCI World Stock Index was hovering at record highs. "Last Week, when it seemed like there was a flight away from the U.S., you saw equities fall, Treasuries take a hit, and the Dollar falling. It's now more about the dollar," said Jan von Gerich Nordea Chief Markets Analyst. The Fed is expected hold rates steady at a meeting that was overshadowed by the criminal investigation launched by the Trump administration against U.S. central banks chief Jerome Powell. Also, there are ongoing efforts to remove Fed Governor Lisa Cook and a 'coming nomination of Powell's successor in May. Von Gerich stated that "the most interesting thing about tonight's Fed meeting is that Powell can now speak more about this political pressure because he has?refrained so far from doing all of that." On FX Watch The dollar index (which measures the U.S. currencies against six major competitors) was 0.37% higher, at 96.27, after falling more than 1% to a four-year high on Tuesday. Trump responded on Tuesday that the dollar's value was "great" when asked if he felt it had declined too much. Although this view is not new, traders took it as a sign to increase the selling pressure on the US dollar. This comes at a moment when the markets are preparing for a possible coordinated currency intervention from U.S. authorities and Japanese authorities in order to stabilize the yen. The dollar's plunge lifted the euro briefly over $1.20, the first time in 2021. It also sent the Australian Dollar temporarily above 70 cents, a three-year-high. Gold reached a new high and commodity prices, which are mostly denominated by dollars, rose to a record. Guy Miller, chief strategist for Zurich Insurance Group, said that despite the fall in the dollar, it came from a "very rich level" and is still not cheap today. "I don't think the administration is in a hurry to stop the decline." Policymakers at the European Central Bank have meanwhile? flagged growing concerns about the rapid appreciation of the euro against the dollar and warned that it could bring inflation down, even though price growth has already been set to 'undershoot' the ECB target of 2%. Earnings are plentiful ASML, the world's largest supplier of computer chip equipment, reported stronger-than-expected bookings for the fourth quarter, highlighting resilient AI demand. Its shares rose 5%, beating a flat European market. Wall Street is in for a big day of tech earnings, with Meta and Tesla reporting their results after the closing bell. The weaker dollar has filtered through to other assets. Gold reached a new record of $5,380 per ounce, and Brent crude futures have hit a high four months ago, just above $68. In Asia, higher-than-expected inflation rates in?Australia during December have led to expectations that a rate increase could be announced as early as next week. ANZ, Westpac and all four of Australia's "Big Four banks" now predict a rate rise. Indonesia's stock market plunged 7% as index provider MSCI expressed concern about the opaqueness of ownership and trading. It also halted updating Indonesian entries to its products which are monitored by global investors.
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Health Rounds: Electric vehicles reduce air pollution, which is harmful to health.
Researchers studying satellite data for California discovered that the?more electric vehicles in a neighbourhood, the lower air pollution caused by burning fossil fuels. Satellite data confirmed, on the other hand, that areas that increased their number of gas-powered cars saw an increase in pollution. In a press release, Sandrah Eckel from the Keck Medical School at USC stated that California's move to electric vehicles has already made measurable changes in the air quality. Researchers reported in The Lancet Planetary Health that for every 200 zero emission vehicles added to Californian neighborhoods between 2019-2023, nitrogen dioxide concentrations dropped by 1.1%. Pollutants released by burning fossil fuels can cause asthma attacks, bronchitis and increase your risk of stroke and heart disease. Researchers analyzed the data by dividing California into 1,692 areas and obtaining publicly available information from the Department of Motor Vehicles of the state on the number of ZEVs that are registered in each area. These included fully-battery-electric cars, plug in electric hybrids, and hydrogen fuel cell cars. The researchers then collected data from a satellite sensor with high resolution that measures NO2 levels based on how the gas absorbs or reflects sunlight. Researchers plan to compare the data on ZEV use with emergency room visits related to asthma and hospitalizations in California. The report stated that while the Trump administration prefers gas-powered cars and has ended?tax incentives aimed at promoting EVs the full transition to electric vehicle is projected to lower ambient NO2 levels by 61% in America and up to 80% by China. Eckel added that the findings "show cleaner air isn’t just a theoretical concept, but it's happening already in communities throughout California." EXPERIMENTAL CONTACT LENSES MONITOR PRESSURE IN THE EYE Early animal testing found that the experimental contact lenses were as accurate as more expensive equipment. Researchers in Japan have developed a method to integrate a thin layer with multiple layers into lenses. Each layer has its own intrinsic properties, which help measure and monitor intraocular tension in real-time, according to a report in npj Flexible electronics. Wireless transmission of data is possible with an antenna integrated into the lens. Researchers have noted that glaucoma can be a major cause of blindness in people who cannot monitor and manage intraocular pressure on a daily basis. The current tools used to measure intraocular pressure are not portable, convenient or easily accessible. They also cannot be continuously monitored. According to the report, when they tested their lenses on rabbits, the pressures that were transmitted by the devices matched those obtained using traditional monitoring devices. The authors admit that there are still some obstacles to overcome before the devices can be used in the field. This includes the need for a way to differentiate intraocular pressure variations caused by posture changes or blinking. Takeo Miyake, study leader at Waseda University, Tokyo, said that the platform was promising for long-term non-invasive intraocular monitoring. (Reporting and editing by Nancy Lapid, Bill Berkrot).
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Germany's Merz : Europe found "joy of respect" to defend rules-based global
On?Thursday, German Chancellor Friedrich Merz said that Europe found "self respect" by standing up for an order based on rules. He also called for a stronger NATO in Europe while still reaching out to the United States. Merz told the German Parliament that Europe would no longer be intimidated by tariff threats after U.S. president Donald Trump decided not to use tariffs to take Greenland away from NATO member Denmark. Merz's speech highlighted how European leaders are emboldened to try and?project European values and strength, after the standoff between Trump and Greenland and global trade ructions. "We have seen the rise of a new world of superpowers in recent weeks. Merz said that "rough winds are blowing in this world and we will be feeling their effects for a foreseeable future." He said that in recent weeks "we were able to experience a sense of self-respect" and added that rules-based actions and rules-based commerce are not dead. Merz stated that "more and more countries are recognizing the fact that the global reorganization is a great opportunity for those who value rules over arbitrariness, and who believe in fair and free trade as opposed to the pursuit of self-interest." EU UNITE AGAINST TARIFF INITIATION, SAYS MERZ Merz spoke a week after tensions between Trump and the West over Greenland threatened to tear apart the NATO alliance, which has been the cornerstone of Western security since World War II. His words echoed the words of French President Emmanuel Macron, who said in a speech to the World Economic Forum at Davos in Switzerland that Europe would not be bullied. In the same conference, Ursula Von der?Leyen, President of the European Commission, called for a renewed form of European Independence, while Mark Carney, Prime Minister of Canada, said that democratic middle powers in a time of "great power rivalry" must work together to build coalitions. "Last weekend, we showed that the EU is capable of acting quickly when needed. ? Merz stated that "we were united by our determination to never be intimidated again by tariff threats." Merz cited European Union trade agreements with the?South American Trade bloc Mercosur, and with India as an example of Europe moving forward. He added that Europe should speed up reforms and dial down regulation. Trump sparked anger in Europe by claiming that European troops had not been on the frontlines of Afghanistan. Merz, a member of the German parliament, told the chamber that "59 German soldiers died during their almost 20-year deployment to Afghanistan and over 100 were seriously injured in battles and attacks." We will not let this deployment be slandered or belittled." (Reporting and editing by Madeline Chambers and Aidan Lewis; Sarah Marsh, Matthias Williams)
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Gold reaches record high of $5,300 while the dollar falls
Gold prices rose to $5,300 an ounce on Wednesday for the first-time as a result of waning confidence in the U.S. Dollar and growing concerns about the independence of the U.S. Federal Reserve. Gold spot jumped by 1.3%, to $5,255.95 per ounce, at 1131 GMT, after reaching a record of $5,311.31. Prices rose by more than 3% during the previous session. U.S. Gold Futures for February Delivery jumped by 3.3%, to $5.250 an ounce. "Gold is not only rising because of market anxiety but also due to a shift in confidence towards a more 'cautious stance,'" said Linh Tran senior market analyst at XS.com. Dollar-priced gold was more appealing to foreign buyers after President Donald Trump dismissed its recent weakness. Trump said that he would'soon announce the choice he has made to lead the Fed, and predicted that interest rates will fall once a new chair is appointed. Nitesh Sha, WisdomTree commodity strategist, said that "the truth is that any candidate that will be suggested will likely be less resistant to Trump's demand than Powell", which would be in gold's favor. Gold, which doesn't yield interest, usually performs well when rates are low. It is expected that the Fed will hold interest rates at its monetary policy meeting in January, which is currently underway. Metal has risen by more than 20 percent since the beginning of the year. This is a significant increase on the record gains made last year. Deutsche Bank analysts believe that gold prices could reach $6,000 per ounce in this year due to persistent demand from investors. Retail demand has been strong in Shanghai and Hong Kong despite record prices. Shah added, "On the jewellery side, I believe the prices will soften the demand. But I think that?the high price may, at this moment, be helping a bit of speculation from the retail side." After hitting a record-high of $117.69 an ounce on Monday, spot silver dropped 1.1% to $111.74. It has gained almost 60% this year. The spot price of platinum fell 0.6%, to $2,624.31, after hitting a record high of $2,918.80 an ounce on Monday. Palladium rose 0.6%, to $1,944.71.
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Russia searches for new markets to buy naphtha as major buyers pullback
Analysts and traders said that Russia's exports of naphtha to Asia will?fall? in January. The storage volumes are increasing as U.S. Sanctions pressure key buyers such as Taiwan, India, and Venezuela, forcing Moscow to find new markets. After Washington imposed sanctions against top Russian oil producers, buyers have become more cautious. Sellers are now forced to store naphtha in foreign storage or on ships, so that it can be reexported. Armaan Ashraf is the director of Asia oil and natural gas liquids at FGENexant. He said that this would mean premiums for "legitimate barrels" of full-range heavy naphtha or discounts on Russian cargoes. Russia exports full-range heavy naphtha, which is then processed in reformers to aromatics that are used for gasoline blends or petrochemicals. Exports are down Russia exports between 1.4 and 1.5 million tons of naphtha each month. However, the amount is decreasing as the Tuapse Refinery and Taman Port are closed for repairs following repeated Ukrainian drone attacks. Market sources say that the Tuapse refinery halted production on December 31, and it will take another one month before production returns to normal. Preliminary data from a shipping source showed that Russia's exports of naphtha to Asia may have fallen to 600,000 tonnes in January. This is down from 800,000 tones in December. According to preliminary estimates by three Singapore-based traders in January and February, Asia’s naphtha exports to Russia could fall to 700,000-800,000 tons. This is about 30% less than the average monthly imports of 1 million to 1,2 million tons during the first 10 month period of 2025. In December, Taiwan and India, the two largest Russian naphtha importers, cut back on their purchases after U.S. sanctions were imposed against Rosneft, Lukoil and other producers. RE-EXPORTS Data from a shipping source shows that tankers with around 350,000 tons naphtha from Russian ports loaded in December have Singapore as their destination, while others with over 320,000 tons do not. Traders added that some cargoes loaded in December are still unredeemed on the water. FGENexant’s?Ashraf stated that "Russian barrels are expected to be cleared?in reexporting sites such as Karimun, Indonesia. Some of them could land in Singapore Straits or even in north or west African tanks for commercial use." According to FGENexant, around 50,000 tons per month of naphtha are re-exported by the Karimun terminal. Some Ust-Luga shipments from Brazil are also re-shipped. VENEZUELA Venezuela also stopped importing Russian naphtha to dilute its crude oil. Some tankers made U-turns in mid-December after U.S. president Donald Trump imposed an embargo on all tankers headed for Venezuela. Between June and December of last year, traders reported that Russia delivered an average of 100,000 tons per month to Venezuela in naphtha. The U.S. will resume its flow of naphtha to the Latin American nation in order to plug the gap. Matias Togni, NextBarrel analyst, said: "U.S. Naphtha showed some strength when flows to Venezuela resumed... but U.S. Supply alone will not be enough for Venezuela." Mohi Nairayan reported from New Delhi and Natalia Chumakova reported from Moscow. Shariq Khan in New York, and Marianna Parra in Houston contributed additional reporting. Florence Tan, Mark Potter and Mark Potter edited the story.
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Rain hampers search for 32 missing after Indonesia landslide, as death toll reaches 34
The disaster mitigation agency said 'on Wednesday that rain is hampering the search of 32 people who are still missing, five days after the landslide in West Java, Indonesia. Heavy rains began a day before, which triggered the landslide that hit Pasir Langu early Saturday morning in Bandung Barat. Muhammad Rifal Firmansyah's brother, 14, is among those who are missing. Rifal spent 'the past four days digging through the mud and rock and showing rescuers photos of his father, mother and brother. His mother and father were found dead Tuesday, but his brother is still missing. His aunt confirmed that several other relatives were also missing. Rifal, who was in an Islamic boarding-school 50 km (30 mi) away when the landslide hit, learned of the tragedy from his cousin. "I called everyone at home, but no one answered. It was then that I realized it had hit my house. "I cried", he said. "We've had landslides in the past, but they were small and would only pass by the front of our house. This time it was a total destruction. Everything's gone." The village is located in a hilly region of the province, about 100 km (60 mi) south of Indonesia's capital Jakarta. Abdul Muhari, spokesperson for the disaster mitigation agency, said that it was raining on the landslide's site this morning. However, all rescuers were ready to continue their search and were waiting for the perfect moment. The death toll has risen to 34, up from 20. 23 more people were rescued. The Indonesian Navy announced on Tuesday that 23 soldiers died while undergoing border patrol training. Muhari stated that it was not immediately apparent if the death toll of these soldiers included the most recent figures. Muhari said that a team was currently working at the scene in order to identify the dead bodies. Nine excavators and at least 800 rescuers have been sent to search for the missing. Reporting by Yuddy Budiman, West Bandung; Ananda Teresia, Jakarta. Editing by David Stanway & Alison Williams.
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France's La Marque En Moins cancels infant formula recall
The French company La marque En Moins, amidst a growing global scare about a possible toxin in infant formula, recalled three batches as a precaution. However, the recall was later canceled after an analysis revealed that they were safe. The recall was prompted by official recommendations issued after several companies including Nestle Danone, and privately owned Lactalis withdrew infant formula as a precaution due to concerns that it might be contaminated?by cereulide. This toxin can cause nausea and vomiting. The company asked clients to wait until it could do further analysis before releasing its "infant formula". Maxime Deguine, the co-founder of the company, said: "The results showed yesterday that a recall wasn't needed." Deguine stated that despite the results of the analysis, health authorities ordered La Marque en MOins to post an alert on "the official recall site". The analysis was the reason for closing the recall. (Reporting and editing by Charlotte Van Campenhout, Joe Bavier and Gus Trompiz)
Palm oil and palm olein are stronger than soyoil.
The Malaysian palm oil futures ended higher on Wednesday for the third consecutive session, backed by Chicago soyoil, Dalian palm olein, and Dalian soyoil, but a stronger Ringgit capped further gains.
The benchmark contract for palm oil delivery in April on the Bursa Derivatives Exchange rose 12 ringgit or 0.28% to 4,272 Ringgit ($1,091.19) per metric ton.
Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the futures were continuing to show a broader upward trend, riding on the bullish wave of Chicago's Soyoil and Dalian's Palm Olein.
He added that a weaker production and good exports in January also helped to keep palm oil's bullish momentum. However, the stronger ringgit had?limited its gains.
Dalian's palm oil contract, which is the most active contract, gained 1.49% while soyoil prices rose by 1.44%. Chicago Board of Trade soyoil prices were up by 0.2%.
Palm oil monitors the price changes of other edible oils as it competes to gain a share in the global vegetable oils market.
The palm ringgit's currency has strengthened by 0.89% against dollars, making it more expensive for buyers who hold foreign currencies.
The oil prices rose on Wednesday as concerns about supply remained after a winterstorm disrupted U.S. crude exports and production. Middle East tensions also contributed to the rise.
Palm oil is more attractive as a biodiesel feedstock because crude oil futures are stronger.
Intertek Testing Services, a cargo surveyor, said that exports of Malaysian palm oils for the period January 1-25 were up 9.97% compared to a month ago, while AmSpec Agri Malaysia, an independent inspection company, put it at 7.97%.
(source: Reuters)