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Trump targets world-leading greenhouse gases observatory in Hawaii
Sources said that the Trump administration was considering canceling the lease for a support office of a well-known Hawaiian climate research station. This raises concerns for the future of important work tracking the impact on global warming of carbon emissions. Elon Musk's Department of Government Efficiency, which is led by billionaire Elon musk, has proposed that the leases of over 20 offices rented by U.S. National Oceanic and Atmospheric Administration be terminated in order to save money. On the DOGE's website, there is a listing for a NOAA office located in Hilo, Hawaii, and an estimate on how much money would be saved if its lease was cancelled - an estimated $150,692 per year. Researchers, staff and other sources provided details about the building's function as the main office supporting the Mauna Loa Observatory located 50 km (30 miles west of the city). The observatory was established in 1956, on the northern side of the Mauna Loa Volcano. It is credited with being the origin of global monitoring of carbon dioxide and has the longest records of atmospheric CO2 measurements. The extent of the plan to cancel the lease and move the office was not clear. NOAA employees declined to publicly comment and their communications office failed to respond to an email request for comment. DOGE has not responded to an email request for comment. Ralph Keeling is a climate researcher at the Scripps Institution of Oceanography, California. He conducts fieldwork on Mauna Loa. Charles David Keeling's father used Mauna Loa to create the famous Keeling Curve, a graph that shows the accumulation of CO2 in Earth's atmospheric atmosphere since 1958. The graph also charts an upward trajectory, as humans continue to burn fossil fuels. Ralph Keeling, station staff in Hilo, said that they regularly travel from the Hilo town office to the volcano peaks Mauna Loa or Mauna Kea to collect air samples. They then ship the glass flasks back to Hilo, and to Boulder, Colorado where scientists analyze greenhouse gas concentrations. Scientists and politicians claim that the Trump administration has launched a larger assault on climate science, with federal funding being cut and hundreds of NOAA employees, the government agency responsible for weather forecasts, being dismissed. Musk and his DOGE Team have been given a task by Trump to reduce the size and costs of the federal bureaucracy. They have stated that they have concentrated on wasteful and unnecessary spending. It would be a terrible thing if the office were closed, atmospheric scientist Marc Alessi said. A fellow at the Union of Concerned Scientists, an advocacy group for scientists, Alessi is a member of. It is not only a tool for measuring CO2, but also informs the climate models. Other said that the Trump administration has already made their job harder after the White House frozen credit cards of agency employees under DOGE's "cost efficiency initiative" for a period of 30 days. A NOAA scientist who asked not to be identified said that it was already difficult to maintain the global greenhouse gas monitoring system. "It is necessary to ship black sampling equipment back and forth around the globe. We suddenly can't use the government-issued cards we used to pay for things. The scientist stated that it appears our monitoring program is soon to be gone. The lease for the NOAA office, according to a former NOAA official who declined to be identified, was set to expire on August 31. (Reporting and editing by Andrew Heavens; Gloria Dickie)
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Indonesian miners' group calls on government to reconsider proposed royalty increase
The Indonesian Mining Association urged the Government to reconsider its plan to increase royalty rates on mining products, as the miners already struggle with increasing operational costs and tightening cash flow. Indonesia may consider raising the royalties that mining companies pay for commodities such as coal, nickel and copper. Authorities say this is to improve the industry's governance. Hendra Sinadia, Executive Director of the group, said: "An increase in royalty rates will increase the burden on the business community. It can also affect production and investment planning." He said: "We ask that the government reconsider its plan to raise tariffs, particularly given the fact that state revenues in the mining sector have exceeded the targets set for the past few years." Miners are already facing a host of policy changes impacting their finances, such as the removal of subsidies on biodiesel for industrial use and a 6.5% hike in regional minimum wages, and the mandatory use of a government-determined coal benchmark price for transactions, Hendra said. Hendra added that a recent policy requiring resource exporters keep all profits onshore for one year would also reduce cash flow. He said that some miners will be hit harder by the adoption of Indonesia's global minimum tax in this year, as they previously enjoyed tax breaks on their investment in smelters. He said that nickel miners were facing declining prices. Coal miners, on the other hand, complained about government policy regarding price caps for the domestic market. This policy hasn't been reviewed in several years. Maybank Securities Indonesia warned that royalty payments could increase significantly if the government moves forward with its proposal. Companies like Vale Indonesia and Bumi Resources Minerals would see their earnings drop, the note said. Some holders of special coal mining permits, such as Adaro andalan Indonesia, could benefit from this proposed revision because the maximum rates will be reduced. Amman Mineral Internasional, Freeport-McMoran Indonesia and Timah are other miners who could be affected. (Reporting and editing by Christian Schmollinger; Bernadette Christopher)
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India's edible oils imports have fallen to their lowest level in four years, reducing inventories
India's edible oils imports plunged in February to the lowest level since four years. Soyoil and Sunflower oil imports were the main culprits. This pushed inventories down to their lowest levels in three years. The world's largest buyer of vegetable oil has depleted its stocks after a second consecutive month with lower-than-normal imports. India may be forced to increase its purchases of palm oil and soyoil in the near future, which could support prices for both. Solvent Extractors' Association of India said that the country's imports of palm oil last month increased 35.7% compared to January, reaching 373,549 metric tonnes. According to the SEA, India imported more than 750,000 tonnes of palm oil per month on average in the marketing period that ended October 2024. The SEA reported that imports of sunflower oil fell by 20.8% and soyoil imports decreased by 36% in February, to 228,275 tonnes. The SEA reported that the decrease in soyoil and sunflower oil shipments last month lowered the total imports of vegetable oil by 12%, to 899 565 tons. This is the lowest level since February 2021. The edible oil stock in India has fallen 14% in the last month to 1,87 million tons, which is the lowest level in over three years. India imports most of its palm oil from Indonesia, Malaysia, and Thailand. It also imports sunflower oil and soyoil from Argentina, Brazil and Ukraine. According to Rajesh Patel, managing partner of GGN Research and an edible oil trader, the palm oil and soyoil industry is likely to see an improvement in March as they have been building stocks. The SEA reported that the share of palm oil in total vegetable oils imports dropped to 43% from 66% a few months ago in the first quarter of the current marketing season, which will end in October 2025. (Reporting from Rajendra Jadhav, MUMBAI; Anjana Anil, Rahul Paswan and Eileen Soreng in Bengaluru. Editing by Christian Schmollinger & Eileen Soreng).
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Greenland's election tests its independence as US interest looms
Greenland voters vote in an election on Tuesday that is being closely watched by the world after Donald Trump's promise to seize control of the island rich in minerals. Since taking office in January, Trump has pledged to make Greenland - a semiautonomous Danish territory - part of the United States. He says it's vital for U.S. national security interests. With a population of only 57,000 people, the island has become entangled in a geopolitical struggle for dominance in Arctic where melting icecaps are making its natural resources more accessible, and opening up new shipping routes. Both Russia and China intensified their military activities in the region. Greenland is three times larger than Texas. It was a Danish colony until 1953. In 1979, when the first parliament was created, it gained some autonomy. However, Copenhagen still controls the foreign affairs, defence, and monetary policies, and contributes just under $1 billion to its economy each year. It won the right to full independence in 2009 through a referendum. However, it hasn't done so out of concern that living standards could drop without Denmark’s economic support. Trump's interests have shaken the status quo, and combined with the growing pride in Inuit culture among the indigenous people, independence has become a major issue in the election. Masaana Edde, editor of the local newspaper Sermitsiaq, said that Trump had pushed independence to its limit. It has brought a lid to everyday issues. The polling stations will open at 11:10 GMT and close at 22:20 GMT. The final results are expected to be announced between 01:00 GMT and 03:00 GMT on Wednesday. There are no exit polls or polls. A poll conducted in January showed that a majority of Greenlanders support independence but differ on the timing and impact it could have on their living standards. More than a dozen Greenlanders were interviewed in Nuuk. All of them said that they supported independence. However, many also expressed concerns about the economic impact and the elimination of Nordic welfare programs like free healthcare and schooling. The island is rich in natural resources including rare earths, which are used by high-tech industries from electric cars to missile systems. Greenland, however, has not been able to produce them as quickly due to the environmental concerns and severe weather. China also controls this sector to a near-total extent, making it difficult for other companies to secure buyers or make a profit. INVESTMENT PLEDGES Trump refused to rule out the use of military force at first, which alarmed many Greenlanders. However, he softened his position later, saying he would "respect the will of local people" and that he was "ready to spend billions of dollars" on them if they decided to join the U.S. Greenland Prime Minister Mute Ede stressed that the island was not for sale, and advocated a coalition government in order to resist pressure from outside. In a Monday interview with Danish broadcaster DR he called Trump's offer disrespectful and expressed his willingness to work with other countries. The six major parties, including Ataqatigiit, the Inuit ruling party, and Siumut, the government coalition partner, all support independence, but have different views on when and how it can be achieved. Naleraq, the main opposition party that supports independence, gained momentum in the run-up to the elections, thanks to the U.S.'s interest and new accusations about Denmark's historical exploitation of Greenland’s mineral wealth. Qunanuk, a Naleraq Candidate, said: "This is our election for independence." The party believes that U.S. interests strengthen Greenland's positions in secession negotiations with Denmark. It aims to put a deal to Copenhagen to a vote in time for the next four-year election. Egede, Egede's editor, said that the party may be able to increase its five current seats but it is unlikely that they will secure a majority.
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The Rouble reaches a near-two-week high after Ukraine bombards Moscow with drones
The Russian rouble reached a two-week high on Tuesday against the dollar, boosted by subdued exports and the hope for a peaceful resolution of the conflict in Ukraine. Kyiv also launched its largest drone attack on Moscow. Russian officials reported that the Ukraine attack, in which at least 91 drones targeted the Russian capital city, caused fires, shut down airports, and forced dozens to divert flights. In the over-the-counter markets, by 0807 GMT the rouble had risen 0.9% to 86.80 dollars, its highest level since February 27,. The rouble fell 0.1% against the Chinese Yuan, which is the most commonly traded currency in Russia. The rouble has risen against the dollar in this year's exchange rate, mainly due to the expectation of improved relations between Moscow Washington which could lead to a resolution of the conflict in Ukraine as well as a possible easing of sanctions. The rouble ignored the threat of U.S. president Donald Trump to impose banking sanctions against Russia last week to force it to negotiate and was unmoved Tuesday by Ukraine's drone attack. Analysts at BCS World of Investments say that the currency is not devaluing because of strong exports, low imports and a geopolitical premium. They said that "the national currency exchange rate could only devalue if the negotiations were disrupted with no prospects of their resume, but this was not the default scenario." Brent crude oil, the global benchmark for Russia’s main export, rose 0.3% to $69.49 per barrel. (Reporting and editing by Louise Heavens, Alexander Marrow)
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Uganda deploys special forces in South Sudan's capital amid tensions
Uganda's chief of the military said on Tuesday that his country has deployed special forces to South Sudan's capital Juba in order to "secure" it, as tensions between Salva Kiir's and his First Vice-President Riek Machar stoke concerns about a return to civil conflict. In recent days, tensions in South Sudan have risen after Kiir’s government arrested two ministers, as well as several senior military officials who were allied to Machar. Since then, one minister has been released. The arrests and clashes that took place in the town of Nasir, a northern town, are seen by many as a threat to a 2018 deal that ended a civil war that lasted five years and claimed nearly 400,000 victims between forces loyalists to Kiir or Machar. In a series on the X Platform, Uganda's Military Chief, Muhoozi Kaieruaba, stated that "our Special Forces Units entered Juba 2 days ago to secure it." "We, the UPDF (Ugandan Military), only recognize one president of South Sudan - H.E. Salva Kiir...any move against him is an act of war against Uganda", he wrote in a previous post. The South Sudan Government Information Minister and the Military spokesperson did not answer phone calls for comment. Uganda sent troops to Juba in 2013 after the civil war broke out in South Sudan. They were there to support Kiir against Machar. The troops were eventually withdrawn from South Sudan in 2015. After fighting erupted again between the two sides in 2016, Ugandan troops returned to Juba. They were eventually withdrawn. Uganda is worried that a full-blown conflict in its northern neighbor could cause waves of refugees to cross the border, causing instability. Kainerugaba didn't say if the latest deployment came in response to Kiir’s government or for how long the troops will remain in South Sudan.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Atenor Atenor completed on Monday a capital share increase of 61.0 millions shares CTP CTP announced Monday that it had successfully placed 1 billion euros in green bonds. D'Ieteren Group D'Ieteren Group announced on Monday its results for the full year of 2024. It said that it expects to see its adjusted profit prior to tax slightly increasing in 2025. FRANCE/MOLDOVA - Moldova and the French Development Agency have signed a deal worth 30 million euros ($32.5million) to improve energy efficiency in the post-Soviet country, said President Maia Sandu after her meeting with French counterpart Emmanuel Macron. RENAULT/NISSAN : The board of directors for Nissan 7201.T will meet Tuesday to discuss possible successors to Makoto Uchida. He is being pressured to step down because the Japanese automaker has been experiencing deteriorating earnings and that merger talks with Honda 7267.0T have failed. SES SES announced a strategic partnership with Lynk Global on Monday for Direct-to-Device services (D2D). Voltalia Voltalia announced on Monday that Yoni Ammar has been appointed as the group's vice CEO. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....
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Greenland's election tests its independence as US interest looms
Greenland is voting in general elections on Tuesday. Some locals see this as an historic opportunity to break free from Danish rule, especially at a moment when U.S. president Donald Trump offered to invest billions if Greenland joined the United States. The election of the Inatsisartut Parliament, which has 31 seats, could increase U.S. influence on Greenland. This sparsely populated island is at the center of a geopolitical competition for dominance in Arctic as global warming makes its resources more accessible, and opens up new shipping lanes. China and Russia are intensifying military activity in this region. The United States is trying to keep up. Greenland is a Danish territory that has been around since 1953. It's three times larger than Texas, but only has 57,000 people. Greenland gained autonomy in 1979, when it formed its first parliament. However, Copenhagen still controls the foreign affairs, defence, and monetary policies, and contributes just under $1 billion to the economy each year. Local governments gained greater autonomy in 2009. They also have the right to declare their full independence via a referendum. However, they have not done so out of concern that living standards could drop without Denmark’s economic support. The island is rich in natural resources including rare earths, which are used by high-tech industries from electric cars to missile systems. Greenland, however, has not been able to produce them as quickly due to the environmental concerns and severe weather. China also controls this sector to a near-total extent, making it difficult for other companies to secure buyers or make a profit. No exit polls or polls of voters are expected. In a January poll, a majority of Greenlanders supported independence but were divided on the timing and impact it could have on their living standards. Since taking office in January, Trump repeatedly expressed his interest in acquiring Greenland. This is a resurgence of a theme that he used during his previous administration. He said the island was vital for U.S. national security. Pledges of Investment He refused to rule out the use of military force at first, which alarmed many Greenlanders. However, he softened his position later, saying he would "respect the will of local people" and that he was "ready to spend billions of dollars" on the Greenlanders if they decided to join the U.S. Greenland Prime Minister Mute Ede stressed that the island was not for sale, and called for a coalition government in order to resist pressure from outside. In an interview aired by Danish broadcaster DR on Monday, he described Trump's offer of cooperation as disrespectful and expressed willingness to work with other countries. Trump's interest in Greenland has shaken the status quo and, combined with the growing pride in Inuit culture among the indigenous people, independence was at the forefront of the election. Masaana Edde, editor of the local newspaper Sermitsiaq, said that Trump had pushed independence to the limit. It has put a lid over everyday issues. The six major parties, including Ataqatigiit, the Inuit ruling party, and Siumut, the government coalition partner, all support independence, but have different views on when and how it can be achieved. Naleraq, the main opposition party that supports independence, gained momentum in the run-up to the elections, thanks to the U.S.'s interest and new accusations about Denmark's historical exploitation of Greenland’s mineral wealth. Qunanuk, a Naleraq Candidate, said: "This is our election for independence." The party believes that U.S. interests strengthen Greenland's positions in secession negotiations with Denmark. It aims to put a deal to Copenhagen to a vote in time for the next four-year election. Egede, Egede's editor, said that the party may be able to increase its five current seats but it is unlikely to achieve a majority. More than a dozen Greenlanders were interviewed in Nuuk. All of them said that they supported independence. However, many also expressed concerns about the economic impact and the elimination of Nordic welfare programs like free healthcare and schooling. Greenland depends on Denmark for around half of its state budget. (Reporting and editing by Sharon Singleton; Additional reporting by Louise Rasmussen, Editing by Sharon Singleton).
No danger to oil supply security in Hungary, Slovakia, EU Commission says
There appears to be no immediate threat to the security of oil supply to Hungary and Slovakia as sanctions enforced by Ukraine on Russian oil manufacturer Lukoil do not affect the transit of oil via Ukraine to Hungary, the European Commission said on Thursday.
In a letter dealt with to foreign ministers of Hungary and Slovakia, European Commission Vice President for Trade Valdis Dombrovskis stated that according to details received from Hungary's MOL, the importer of the Russian oil, the oil ends up being property of the trading business at the Russian-Ukrainian border, and is therefore not subject to sanctions.
Commission services have actually preliminarily concluded that urgent assessments do not appear to be called for as there is no present indicator of an immediate danger to the security of supply, the letter, seen , stated.
Slovakia and Hungary - two countries that have opposed western allies' military aid to Ukraine as it battles Russia's. intrusion - have been grumbling about Kyiv's move to put Lukoil. on its sanctions list last month, stating it avoided them from. purchasing Russian oil for their refineries, threatening security of. supply.
(source: Reuters)