Latest News
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Odesa Zoo saves birds after Russian attacks
Volunteers lift a dead bird from the wind-swept beach of 'Odesa. The Black Sea port town where an oil spill, blamed by Ukrainian officials on Russian attacks, has left wildlife fighting for survival. Odesa is a Russian target, and has been since the Russian troops invaded Ukraine on February 20, 2022. However, the attacks are more intense now. Wildlife is also among the victims. Russia hasn't commented on the spill but previously denied targeting civilian infrastructure. Odesa Zoo is determined to save birds that survive after being coated with oil. Birds can no longer move due to their feathers becoming coated. "They can't fly or swim," said zoo director Ihor Bilyakov outside a rescue point to rehabilitate the birds. They lose their mobility and freeze quickly because it is cold now. The spill, which was caused by Russian air strikes that damaged storage tanks of sunflower oil in Pivdennyi Port last week, killed dozens of birds. Regional governor Oleh Kiper blamed the incident on Russian attacks. The birds screech indignantly when volunteers clean them of oil from their bill to toe. Biliakov said that the two most elegant species, the great crested and horned Grebes, were the worst affected. He said that the great crested Grebe is a waterfowl species that is particularly vulnerable to contamination by oil. The port administration reported that emergency crews deployed floating barriers and specialised vessels to contain spillage, and temporarily closed the channel. The oil will degrade organically, according to authorities. However, monitoring and cleanup efforts are ongoing in order to prevent any further spread. Reporting by Iryna Nazaarchuk, writing by Ron Popeski and editing by Howard Goller
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US regulator extends the driving time limit waiver to heating fuel haulers
To speed up deliveries, the U.S. Transport Safety Regulator has extended an 'emergency waiver' on driving time limits for truckers transporting heating fuels. The extension was given on Tuesday because extreme cold and severe winter storms in Pennsylvania, as well as a major power outage at an important gas refinery, had 'disrupted' propane supplies and created immediate dangers to the public health, safety, and welfare of those states. U.S. regulations normally require truck drivers to take mandatory rest breaks and cap their daily?and weekday driving hours in order to reduce fatigue-related crashes. However, regulators may temporarily waive these limits to speed up deliveries of essential supplies during emergencies. The extension comes after an earlier emergency declaration by the U.S. Federal Motor Carrier Safety Administration that relaxed'mandated rest and drive-time limits for trucks transporting heating 'fuels like propane, natural gas and heating oil in parts of the U.S. Northeast until December 26. The FMCSA stated that the affected states and jurisdictions include Connecticut, Delaware Maryland, Massachusetts New Hampshire New Jersey New York Pennsylvania West Virginia. (Reporting by Varun Sahay in Bengaluru; Editing by Shinjini Ganguli)
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After record rally, gold, silver and platinum are taking a break
Gold prices fell on Wednesday after a record-breaking surge that saw them surpass the $4,500 an ounce barrier earlier in the session. Silver and platinum also saw some of their gains trimmed. At 01:57 pm, spot gold was down by 0.2% to $4,479.38 an ounce. ET (18:57 GMT), following a session high of $4,525.18. U.S. Gold Futures for February Delivery settled 0.1% lower at $4,502.8. Jim Wyckoff, Kitco Metals' senior analyst, said that the gold market was experiencing some chart consolidation as well as a mild profit-taking following record highs. Gold is a good investment in low interest rate environments. It also thrives when there are periods of uncertainty. Donald Trump, the U.S. president, said Tuesday that he would like to see the next Federal Reserve Chair?lower interest rates in a good market. The U.S. central bank has reduced rates 'three times' this year, and traders currently price in two rate reductions next year. A U.S. official said that the U.S. Coast Guard was waiting for more forces to arrive on the geopolitical scene before it could attempt to board and capture a Venezuelan-linked oil tanker, which they have been pursuing since last Sunday. Silver reached a new high of $72.70, and lastly rose 0.7% to $71.94 per ounce. The next target is for the gold market to reach $4,600/oz and for silver, $75/oz before the end of this year. Wyckoff added that the technicals are bullish. Silver prices are up 149% on a year-to date basis, despite strong fundamentals. This is more than bullion which has gained over 70% in the same time period. Platinum?peaking at $2.377.50, before paring its gains to stand at $2.220.44. Palladium fell by more than 9% to $1,683.58 per ounce after reaching its highest level in three years. The price of platinum and palladium, which are used primarily in automotive catalytic convertors to reduce emissions and cut down on pollution, has risen by 145% and over 85% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
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After record rally, gold, silver and platinum are taking a break
Gold prices fell on Wednesday after breaking through the $4,500 per ounce barrier earlier in the session. Silver and platinum also saw some losses following their record-breaking rally. At 11:52 am, spot gold was down by 0.3% to $4,473.49 an ounce. After hitting a high of $4,525.18, the ET session ended at 16:52 GMT. U.S. Gold Futures for February Delivery fell by 0.1% to $4,500.30. Jim Wyckoff, Kitco Metals' senior analyst, says that the gold market has seen some chart consolidation as well as a mild profit-taking following record highs. Gold is a good investment in low interest rate environments. It also thrives when there are periods of uncertainty. Donald Trump, the U.S. president, said Tuesday that he would like to see the next Federal Reserve Chair?lower interest rates in a good market. The U.S. Central?bank cut rates 'three times' this year, and traders currently price in two rate cuts for next year. A U.S. official said that the U.S. Coast Guard was waiting for more forces to arrive on the geopolitical scene before it could attempt to board and capture a Venezuelan-linked oil tanker, which they have been pursuing since last Sunday. Silver reached a new high of $72.70, and lastly rose 0.1% to $71.5 per ounce. The next target is for the gold market to reach $4,600/oz and for silver, $75/oz before the end of this year. Wyckoff added that the technicals are bullish. Silver prices are up 148% on a year-to date basis, despite strong fundamentals. This is more than bullion which has gained over 70%. Platinum peaked at $2.377.50, before reversing its gains and standing 4% lower at $ 2,186.16. Palladium is down by more than 10% to $1,675.43 per ounce after reaching its peak three years ago. The price of platinum and palladium, which are used primarily in automotive catalytic convertors to reduce emissions and cut down on pollution, has risen by 143% and over 85% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
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After record rally, gold, silver and platinum are taking a break
Gold prices fell on Wednesday as they took a breather after soaring past the $4,500 an ounce mark in the earlier part of?the day, while silver and platinum pared some gains from their record-breaking rally. At 10:04 am, spot gold was down by 0.4% to $4,468.96 an ounce. The session began with a high of $4,525.18. This was followed by a low of $4,425.18 at 1504 GMT. U.S. Gold Futures for February Delivery fell by 0.2% to $4,497.90. Jim Wyckoff, Kitco Metals' senior analyst, said that the gold market was experiencing some chart consolidation as well as a mild profit-taking following record highs. Gold is more likely to thrive in periods of uncertainty and low interest rates. U.S. president Donald Trump said Tuesday that he would like the next Federal Reserve chair to lower interest rates in a good market. The?U.S. The?U.S. central bank has reduced?rates a total of three times in the past year. Currently, traders are pricing in two rate reductions next year. A U.S. official said that the U.S. Coast Guard was waiting for more forces to arrive on the geopolitical scene before it could attempt to board and capture a Venezuelan-linked oil tanker, which they have been pursuing since last Sunday. Silver reached a record high of $72,70, but fell last 0.8% to $70.86 per ounce. The next upside target is $4,600/oz for gold and $75/oz for silver by the end the year. Wyckoff said that the 'technicals' remain bullish. Silver prices are up 147% on a year-to date basis, outpacing the bullion price increase of 70% during that same period. Platinum reached a high of $2,377.50, before reversing its gains to stand at $2.198.30, down 3.3%. Palladium fell 9% to $1,692.43 per ounce after reaching its peak three years ago. The price of platinum and palladium used primarily in automotive catalytic convertors to reduce emissions is up 160% and 100% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
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NIPSCO gets federal order to maintain Indiana coal plant
Northern Indiana Public Service Company announced on Wednesday that it had?received an order from the federal government requiring continued operation of R.M. Schahfer generation station will continue to operate 'well beyond?its December 31, 2025 retirement date. The firm said that the order requires the Indiana-based facility to remain open for a period of 90 days following the date of?order. The directive is coming as several U.S. utilities are delaying coal plant retirements in order to meet the 'rising demand for power,' driven by data centers and rising natural gas prices, which have led to a re-focus on coal generation. Donald Trump, the president of the United States, has also advocated for increased coal production. He signed executive orders aimed at increasing coal use in April. NIPSCO, a subsidiary of U.S. utility NiSource Inc., had previously stated that it intended to retire the two remaining coal units at the Schahfer Plant by the end 2025. Vince Parisi, President and Chief Operation Officer of NIPSCO, said that they were reviewing the overall impact on their customers and business. They would comply with any orders received. (Reporting from Yagnoseni das in Bengaluru, editing by Vijay Kishore.)
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SolGold accepts a $1.2 billion acquisition by Jiangxi Copper, a top investor
SolGold, a gold and copper mining company, announced on Wednesday that it had reached an agreement to be purchased by Jiangxi Copper. The deal valued SolGold at $867 million pounds ($1.17billion). The 28 pence per share deal represents a 43% premium over SolGold, a company focused on Ecuador that closed its stock price the previous day (November 19), the day Jiangxi approached the company to do a deal. SolGold's share price closed at 25.65 pence on Wednesday, a trading session that was shortened due to the holiday. The agreement gives Jiangxi the control of SolGold's Cascabel Project in Ecuador's Imbabura Province, as miners rush to secure copper supplies amid increasing demand driven by electric vehicles and AI infrastructure investment. One of the largest undeveloped copper and gold?deposits is located in South America. The London-listed mining company said that earlier this month, it was inclined towards recommending?the offer. Jiangxi was the third bid to acquire the company. "JCC is delighted to receive the unanimous recommendation from the SolGold board, and the strong support of other large shareholders for the acquisition. JCC is excited about the potential of the Cascabel Project," said Shaobing Zhou in a press release. SolGold's top investors also include BHP, a global mining company, and Newmont.
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Silver, platinum and gold all reach new heights
On Wednesday, gold broke the $4,500 mark for the first-ever time. Silver and platinum also reached new records, as speculation and a demand for'safe havens' and further U.S. interest rate cuts in 2019 fueled speculative metals. At 1220 GMT the spot gold price was up by 0.2% to $4,494.49 an ounce, after hitting a session high of $4,525.19. U.S. Gold Futures for February Delivery climbed 0.4%, to $4,523.10. Platinum peaked at 2,377.50, but then pared gains to end up at 2,312.70, a 1.6% increase. Silver reached an all-time record high of $72.70, and it was lastly up 1.3%. Palladium fell 1.5% to $1,830.37 per ounce after reaching its highest level in three years. Fawad Rasaqzada is a market analyst for City Index and FOREX.com. He said that the lack of bearish factors, and strong momentum are all backed up by solid fundamentals. These include central bank purchases, a declining U.S. Dollar, and some haven demand. "Other metals, like copper, have been rising. This is providing support for the entire commodities complex." As investors seek safe-haven assets in the face of geopolitical tensions, and as they expect that the U.S. Federal Reserve would continue to ease its monetary policy, gold has gained more than 70% over this past year. U.S. president Donald Trump said Tuesday that he wanted the next Fed chair to lower interest rates if the markets were doing well. Gold and other non-yielding investments tend to perform well in an environment of low interest rates. Traders are currently pricing in at least two rate reductions?next. Silver's price has risen by more than 150% in the past year, surpassing gold, due to strong investment demand and its inclusion on "the U.S. Critical Minerals List" as well as rising industrial usage. Analysts at Societe Generale wrote in a report that the risk of a significant drop in gold prices is largely tied to a'slowing down of outright gold purchases, such as those by central banks in emerging markets. Investor positions indicate that, barring such a situation, the unprecedented rise in gold prices is likely to continue. This supports our Commodities Strategists' forecast of $5,000/oz by 2026. The price of platinum and palladium (used in catalytic converters for automobiles to reduce emissions) has risen by 160% and 100% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
World hunger monitor faces 'large gap' after US aid cuts
FEWS NET, a global hunger monitor backed by the US, provided crucial data
FEWS NET is now operating with reduced capacity
Early warning alerts from FEWS NET helped to direct targeted aid
Nelson Renteria & Nita Bhalla
Treminio, armed with the public bulletins as well as regular alerts on food security produced by the Famine-Early Warning Systems Network (FEWS NET), would pass the crucial data to farmers.
It was funded by USAID, the United States Agency for International Development. Since President Donald Trump's January order to freeze USAID spending, it has operated at a drastically reduced capacity.
It's a vital early warning tool," said Treminio. He is the head of the Salvadorian Chamber of Small and Medium Agricultural Producers (SMAAP), an association of 125,000 growers of corn, beans sorghum and riz.
He said: "I think that producers would suffer worse losses if the early warning alerts of the program were to disappear."
FEWS NET provides weather and drought monitoring six to twelve months ahead to help farmers plan their planting schedules.
The FEWS NET Program has been moved to a new site under the U.S. Geological Survey. However, the information is limited. This is a blow for those who depended on this service. From local farming associations to international aid groups and governments to policymakers and government officials. 'LARGE GAP'
USAID's cuts have had a significant impact on humanitarian organizations working in the field, from HIV/AIDS health care and land demining to food aid.
FEWS NET, created by the U.S. Government in 1985 in response to devastating famines that ravaged East and West Africa in 1985, has been a valuable resource for humanitarian organizations deciding how and where to distribute aid.
Chemonics International (which manages FEWS NET) received a stop work order from USAID on January 27. Two days later the original FEWS NET website was offline.
Mike Budde is the USGS FEWS NET Program Manager. He says that work is in progress to make sure the website is fully functional, but this will take time.
He said that the website's resources were lacking.
We are currently coordinating with our entire science team in order to make some of the previously published information available on this site.
Early Warning Reports
Food security experts in Africa and humanitarian workers say FEWS NET is indispensable for humanitarian and development work, providing data-driven insight into food security, climate impact and emerging crises.
They said that the regular assessments and early-warning reports enable aid workers to anticipate acute food insecurity and respond accordingly, particularly in areas of East and West Africa affected with drought, conflict, and economic shocks.
FEWS NET, for example, has been able to identify and prioritize interventions in vulnerable communities during times of drought and conflict by integrating data on climate, crop conditions, and market analysis into its monthly and seasonal forecasts.
It ensured that the most vulnerable people received assistance before the situation escalated to a full-blown emergency.
Tinebeb Berhane is ActionAid's Country Director for Ethiopia. She said: "FEWS NET has a comprehensive approach... that supports ActionAid Ethiopia in developing holistic responses to crises."
The network's recommendations are used by many NGOs, government agencies and international agencies to coordinate humanitarian planning and policy actions.
Berhane stated that by leveraging FEWS NET’s robust early-warning systems and localized information, her organization was able to strengthen its anticipatory actions and contribute to effective, focused and lifesaving assistance for vulnerable population.
Erin Lentz is an associate professor at The University of Texas at Austin's LBJ School of Public Affairs and an expert in international food security. She said FEWS NET "is trying to do better early alert, how to think holistically about these things."
She said, "That is hard and requires a lot training. Understanding global economic factors and the ability to think of how these things directly affect people's lives, and livelihoods, are required."
Lentz says that FEWS NET's early warnings and analyses of food insecurity helped to address a famine which occurred in Somalia in 2011. They also contributed to averting a second famine, which took place in Somalia in 2017.
"One of the problems is that trend analysis is one of the most valuable aspects of early warning - is it getting better or worse?" Lentz said.
She said, "It is difficult to reconstruct data retrospectively."
(source: Reuters)