Latest News
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Indian security forces kill 16 Maoists in a firefight
Police said that Indian security forces had killed 16 Maoists in a gunfight in central Chhattisgarh state, according to police. Since decades, the extreme left-wing rebellions have waged an offensive against the Indian government, particularly in central and east India. This has led to violent clashes on both sides and many casualties. Police said that during the search of Sukma, in southern Chhattisgarh on Friday, they found several guns. Rebels claim they want to give landless Indians and poor Indian farmers more control over the land that is being exploited and to have a bigger say in minerals being mined by large mining companies. Amit Shah, the Indian Home Minister, has pledged to eradicate the insurgency. Clashes between security forces and Maoists are on the rise since Prime Minister Narendra modi was elected for a third time last year. Reporting by Jatindra dash in Bhubaneswar; Writing by Rupam Jain, Editing by William Mallard
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Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake
Canada-based oil and gas company Valeura Energy has reported that all of its assets in the Gulf of Thailand remain operating safely, following a devastating earthquake that hit Myanmar, affecting the neighboring Thailand as well.At approximately 13:30 local time on Friday March 28, 2025, a strong earthquake struck central Myanmar, approximately 1,000 km from Bangkok Thailand.While certain buildings in Thailand were damaged, Valeura has confirmed that all of its facilities in the offshore Gulf of Thailand remain operating safely, with no immediate indications of damage.The earthquake killed dozens of people in Myanmar, the local media have reported, with significant damage to infrastructure and buildings recorded over the vast area.The quake also hit Thailand, with reports of at least nine people killed in the capital Bangkok.
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CIP Orders Vestas Offshore Wind Turbines for 495MW Taiwanese Project
Danish wind turbine maker Vestas has secured an order from Copenhagen Infrastructure Partners (CIP) to supply offshore wind turbines for the 495MW Fengmiao I project off the coast of Taichung in Taiwan.The order includes 33 V236-15.0 MW turbines as well as a long-term comprehensive service agreement designed to ensure optimized performance of the assets.CIP made a financial close on the Fengmiao I offshore wind project earlier in March, securing $3.1 billion project financing from 27 international and Taiwanese banks.CIP Reaches Financial Close for Offshore Wind Farm in TaiwanThe construction of the Fengmiao I offshore wind farm is scheduled to be completed by the end of 2027."We are honored to deepen our partnership with CIP on the Fengmiao I project, our inaugural venture in Taiwan featuring the V236-15.0 MW turbine.“This project marks the start of construction for Taiwan’s first Round 3 offshore wind project and reinforces our commitment to delivering innovative clean energy solutions and supporting Taiwan’s ambitious renewable energy goals,” said Purvin Patel, President of Vestas Asia Pacific.“We are confident that, together, we will deliver the Fengmiao I project on schedule, safely, and to the highest standards. We look forward to playing a key role in supporting Taiwan’s energy transition and long-term renewable energy goals,” added Mark Wainwright, Fengmiao I Project CEO.
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Blackstone is considering a small stake in the US TikTok spin-off, according to sources
Two people familiar with this matter say that Blackstone, a private equity firm, is considering a minor minority investment in TikTok’s U.S. operation. Blackstone has discussed joining the existing non-Chinese shareholders of ByteDance, including Susquehanna International Group, General Atlantic and General Atlantic to contribute fresh capital in order to bid for TikTok’s U.S. operations. The group is the front-runner. The proposal involves spinning off TikTok’s U.S. operation into a separate company and reducing Chinese ownership to below the required 20% threshold by U.S. laws. TikTok General Atlantic and Blackstone have declined to comment. Susquehanna has not responded to a comment request. Since a law passed with bipartisan support last year, requiring ByteDance, to divest TikTok before January 19, or risk a ban for national security reasons, the fate of the app has been in flux. TikTok went dark briefly in the U.S. after the Supreme Court upheld a ban in January, but came back to life a few days later when U.S. president Donald Trump assumed office and delayed enforcement of the law until April 5. Trump said that he could extend the deadline and offered a possible tariff reduction on China in order to reach a deal. U.S. Vice-President JD Vance stated that he expected the terms of a deal to resolve ownership of the app by the deadline of April. ByteDance's investors and ByteDance have not revealed how much new investment is needed to buyout Chinese shareholders and comply with the U.S. laws. TikTok's legal filings last year show that global investors owned 58% of ByteDance. The company's Chinese founding director Zhang Yiming held another 21%, and employees from different nationalities, including 7,000 Americans, owned the remaining 21%. The White House is involved in an array of activities Unprecedented level In the closely observed deal talks, playing the role as an investment bank. Others reported in January 2017 that Trump's Administration was a tyrant. Working on a TikTok plan Oracle and existing ByteDance shareholders would be tapped to take over the app's operation. Dawn Chmielewski reported from Los Angeles with additional reporting by Katie Paul, Krystal Hu and Kane Wu in New York; editing by Kennerita Choy and Marguerita Li
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Stocks fall amid inflation worries and trade war concerns
Gold, the safe-haven asset, hit a new record high Friday. An index of global stocks fell as investors worried about a trade war that could be triggered by Trump's tariff decisions. The latest inflation figures were a source of frustration for U.S. traders, but Trump's 25% auto import tariff and his plans to impose a much wider levies on next week continued to be a cause for concern. All three major Wall Street indexes finished lower, and recorded their third consecutive loss. Communication services, consumer discretionary and technology stocks were the biggest losers. Utilities stocks finished higher. The Dow Jones Industrial Average dropped 1.69% to 41.583.90. The S&P 500 declined 1.97% at 5,580.94 while the Nasdaq Composite dropped 2.7% to 17322.99. The STOXX 600 Index in Europe finished the week at 1.38% lower than it started, due to a drop of nearly 1% by the auto and parts sector. MSCI's global index of stocks fell by 1.58%, to 829.89. It's on track to finish the week down by 1.44%. Michael Metcalfe of State Street, the head of global macro-strategy, stated that U.S. auto tariffs were more aggressive than anticipated, particularly since no adjustments had been made for U.S. neighboring countries Mexico and Canada. Metcalfe stated, "I don't know if the hawkishness in the auto tariffs will translate into the broader tariffs we are going get next week." "And this is keeping the risk appetite on the backfoot." The gold price has reached a new high of $3,086.70 due to the fear of trade wars. Last week, it was up by 0.86% at $3,082.25 per ounce. It is up over 17% for the quarter, its best performance since 1986 and its 18th highest record this year. U.S. Gold Futures closed 0.8% higher, at $3114.30. Wasif Latif is the chief investment officer of Sarmaya Partners, a New Jersey-based firm. He said that gold prices are being boosted by inflation, geopolitical tensions and fiscal risks. "We still see inflation as stubborn, sticky and won't disappear. Geopolitical risk is still high and the geopolitical climate remains risky. "You can see fiscal risks on the U.S. Budget side, but also in broader Western sovereign bonds. It's challenging as the budget continues to run a budget deficit and interest rates remain stubbornly high," Latif stated. Investors lowered the yields on U.S. Treasury bonds as they assessed the negative impact that Trump's tariffs will have on the economy. According to LSEG, traders in interest-rate futures bet on a total reduction of 66 basis points this year in interest rates. The yield on the benchmark U.S. 10 year notes dropped 12 basis points to 4,249%. Traders see 80% probability of a 25 basis-point ECB interest rate cut in April, up from 50% a week earlier. German Bund yields fell by 0.2 basis points, to 2.731%, from around 50% a week ago. After the U.S. inflation figures were hotter than expected, the dollar fell against the major currencies including the Japanese yen, euro and the British pound. The greenback's troubles have benefited the euro. This week, it is up by 0.21% against the greenback. The dollar fell 0.87% against the Japanese yen to 149.73, and the euro rose by 0.29% to $1.0832. The dollar fell 0.06% against the Swiss Franc to 0.881. The Canadian dollar fell 0.07% against the dollar to C$1.43 each. Oil prices in commodities were flat, as traders weighed the tightening crude supply and new U.S. Tariffs on their impact on the global economy. Brent crude futures dropped 0.5% and settled at $73.63 per barrel. U.S. West Texas Intermediate Crude Futures dropped 0.8% to settle at $69.36 per barrel.
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An executive says that the Angra 3 project in Brazil is still viable even without Eletrobras backing.
Eletronuclear's CEO Raul Lcurgo said on Friday that the state-run Brazilian nuclear company would still be able complete its Angra 3 facility even after Eletrobras sold its minority stake. Eletrobras, the former state-run company, is selling its 35% stake in Eletronuclear to the state-owned ENBPar in the privatization process that will take place in 2022. Eletrobras announced on Friday that it will no longer invest in Angra 3 a nuclear plant in Rio de Janeiro State. The project has been in development for decades and is estimated to cost $4 billion. Lycurgo said that the company could still maintain its Angra 3 project even without Eletrobras support. Eletronuclear will finance 90% of the cost, while partners fund the other 10%, according to Lycurgo. Angra 3, a project that dates back to 1980, has been put on hold several times as it awaits the green light of the government. Angra 3 is a major part of Eletronuclear’s budget, even if no work has been done on its development. It is estimated that the nuclear company spends over 200 million reais a year on the project. $1 = 5.7561 Reais (Reporting and writing by Rodrigo Viga Gaier; editing by Gabriel Araujo, Marguerita Choy, and Fabio Teixeira)
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Wall Street falls as new data fuels inflation fears
Wall Street stocks finished sharply lower Friday with sales in Amazon, Microsoft, and other technology giants. U.S. statistics stoked concerns of weak economic growth, high inflation, and the Trump administration's escalating tariffs. The U.S. consumer's spending in February was less than expected, while an indicator of prices underlying the data rose at its highest rate in 13 months. A University of Michigan study showed that in March consumers' expectations for 12-month inflation had risen to their highest level in almost 2-1/2 years. They also expect inflation to continue to rise beyond the next 12 months. This data fuelled fears that the rush of tariffs announced by U.S. president Donald Trump after he took office in January would increase prices of imported products, cause inflation and discourage the Federal Reserve from reducing interest rates. Apple, Microsoft, and Amazon have all seen their shares fall sharply as a result of inflation and tariff concerns. Greg Bassuk is CEO of AXS Investments, New York. He said: "One other cautionary point for investors is that inflation has not yet shown up in the data. This is why we think this is the calm prior to the tariff storm. Inflation is likely to move more north than south over the next few months." The preliminary data shows that the S&P 500 fell 113.03, or 1.99% to 5,580.28 while the Nasdaq Composite dropped 483.30, or 2.71% to 17,320.73. The Dow Jones Industrial Average dropped 724.84, or 1.71% to 41,576.15. According to CME FedWatch, traders who trade interest rate futures see 76% probability that the Fed will reduce rates by 25 basis point by its meeting in June. After Friday's losses the S&P 500 has fallen about 9% since its record-high close of February 19. The Nasdaq has fallen around 14% since its record-breaking close on December 16th. Bob Doll is the chief executive officer at Crossmark Investments. He said, "We don't understand the rules. Businesses struggle with this." "I don't know what tomorrow will bring so I'll be more cautious." This is part of the economic weakness that we are experiencing. The CBOE Volatility Index rose 3 points, reaching a new high for a week. Reports noted that Mary Daly, a policymaker at the Federal Reserve, still sees two interest rate cuts in this year as "reasonable". Trump's commitment to a 25% auto import tariff, which is set to go into effect next week, has weighed down auto stocks a second time, with General Motors (GM) and Ford (F) both dropping. Trump has hinted that the new tariffs will not be the same as the previous tit-fortat duties. Lululemon Athletica shares plunged after it lowered its forecasts for the year, citing uncertainty surrounding tariffs. Gold prices rose in response to concerns about a trade war, causing mining companies Harmony Gold and Gold Fields to rally. The S&P 500 will experience its first decline in six quarters while the Nasdaq, which is dominated by technology, is expected to suffer its biggest quarterly fall since 2022. UBS Global Wealth Management has lowered its target price for the S&P500 to 6,400, down from 6,600. Wolfspeed's shares fell a day following the appointment of a new CEO by the chipmaker amid its struggle to improve its financial situation.
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Dominion Energy reduces CEO's cash pay-out on long-term goals
Dominion Energy's CEO Robert Blue lost out on more than $4 Million in cash when the utility failed to achieve its performance targets for shareholder return and operating profits during 2022-2024. Blue disclosed in a filing with the U.S. Securities and Exchange Commission on Friday that it had received $438.240, or just 9%, of the target payout. The company said the target payout was nearly $5 million. The company didn't respond to a request for comment. Dominion's shareholder return was the second lowest of all peers during this 3-year period. This resulted in no payout for that goal. The 50% of Blue’s performance-based compensation target came from that goal. The company's return on total assets was negative 21% over that time period. Analysts claim that Dominion stock fell during the period of performance as investors lost faith in the management team. Dominion took several steps to reduce its debt, including selling its Cove Point Liquefied Natural Gas Plant to Berkshire Hathaway. The sale netted about $3.3 billion after tax. Dominion expects its electricity sales to increase over the next ten years as the company builds more data centers in Virginia, which are energy-hungry. Blue did not receive any long-term pay for performance related to Dominion’s operating profit goal of 2022-2024. Dominion reported that with a performance-weighting of 40% the operating profit per share came to $8.87. This was well below the threshold of $11.70. Dominion exceeded its minimum renewable energy target, despite the fact that fewer solar power projects were completed during the performance period. Blue received 9% of the target cash payout for the three goals with a weighting of 10%.
Australia authorizes growth of three coal mines
Australia authorized the expansion of 3 thermal coal mines late on Tuesday amidst accusations from the mining market that the centreleft Labor federal government is making it more difficult to do business.
Whitehaven Coal won approval to extend underground mining at its Narrabri thermal coal mine while Indonesian-owned MACH Energy Australia will broaden its Mount Pleasant project, according to the Department of Environment Modification, Energy, the Environment and Water website.
Yancoal Australia subsidiary Ashton Coal likewise won approval for its Ravensworth mine complex.
All three jobs were approved with conditions.
Minister for the Environment and Water Tanya Plibersek last month obstructed miner Regis Resources from developing a tailings dam pointing out threats to Aboriginal heritage, stimulating fury from the mining community about difficult and approximate rules.
But Monday's decision triggered outrage from environment activists and anti-coal group, Lock the Gate Alliance, said the relocation exposed the federal government's reckless neglect for Australian wildlife and environment change.
We are stunned that a federal government that came to power guaranteeing to halt extinction and act on environment modification has sunk so low, representative Carmel Flint said in a statement.
(source: Reuters)