Latest News
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Oil prices drop on worries about US-China trade tensions
Oil prices fell on Monday as a result of concerns over a global surplus. The escalating U.S. China trade tensions also added to worries about an economic slowdown. Brent crude futures dropped 24 cents or 0.4% at $61.05 a bar at 0032 GMT. U.S. West Texas intermediate futures were also down 21 cents or 0.4% at $57.33, erasing Friday's gains. The International Energy Agency has forecast a growing glut of supply in 2026, which is partly responsible for the declines. Toshitaka Takawa, an economist at Fujitomi Securities, said that fears of a slowdown in the economy due to escalating U.S. China trade tensions are driving selling pressure. The upcoming summit between U.S. president Donald Trump and Russian president Vladimir Putin will add uncertainty to the outlook. This makes it hard for some investors adjust their positions. Last week, the World Trade Organization's head said that she had urged both the U.S.A. and China de-escalate their trade tensions. She warned that a decoupling of the two world's largest economies over time could result in a 7% reduction in global economic output. Two of the world's largest oil consumers recently renewed their trade conflict, adding port fees to ships that carry cargo between them. This could cause global freight flow disruptions. Trump and Putin also agreed to meet again on Thursday, despite Washington's pressure on India and China not to buy Russian oil. After talks with Ukrainian president Volodymyr Zelenskiy on Friday at the White House, Trump implored Ukraine and Russia to stop the war "immediately," even if that meant Ukraine conceding territories. Trade sources and analysts say that the pressure from the United States and Europe on Asian buyers to reduce their Russian energy imports could result in India's oil imports being restricted as of December, resulting in cheaper supplies for China. Baker Hughes, a leading energy services company, said that the United States added oil and gas rigs last week for the first time since three weeks. (Reporting and editing by SonaliPaul; Yuka Obayashi)
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Telegraph: British troops can now shoot drones down on sight
The Telegraph reported that British troops would be given new power to shoot down drones that threaten UK military bases. This was based on an announcement made by British Defence Minister John Healey on Monday. The newspaper reported that Healey would reveal his vision for how Britain can protect its most important military bases as a response to the growing threat from Russia. The Telegraph, citing an anonymous source, reported that the British government "was not ruling out" extending the powers to other sites of importance, such as airports. According to The Telegraph, troops are currently able to use counter-drone specialist equipment that can track drones coming in, hijack their signals and divert them. The Telegraph added that the new proposal would give soldiers and Ministry of Defence Police an "kinetic option" of shooting them on-site, something they could only do in extreme situations. Healey's Office did not respond immediately to a comment request. The British defence ministry was not immediately reachable. In October, Britain announced that two Royal Air Force planes were flying a Twelve-hour Mission The U.S. and NATO troops will patrol the border with Russia alongside U.S. forces, claiming that this operation follows incursions in the airspace of NATO countries such as Poland, Romania, and Estonia. Drones are becoming more popular. Airspace disruption In recent years, unmanned aerial vehicles have repeatedly invaded Europe, causing airport closures and flight cancellations. As tensions between the West and Russia have increased over its actions, fingers have been pointed in Russia's direction. Despite Moscow's denials, there is evidence of Russian involvement in Ukraine. Monitoring service Enigma has detected at least 18 drones in Denmark, Sweden Norway and Germany since September 16. Many, but not all, were in close proximity to airports.
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Reports: Doug Martin, 36, former All-Pro running back Doug Martin has died
Multiple outlets reported that Doug Martin, a former NFL All-Pro runningback and Boise State standout who was 36 years old when he died, had passed away. TMZ, FOX and other media outlets confirmed the news to Martin's family members on Sunday. His family released a statement to FOX that read: "It's with great sadness that I inform you all of Doug Martin's passing Saturday morning." The cause of death has not yet been confirmed. Please respect our privacy during this time." On Sunday, the Tampa Bay Buccaneers - where he spent most of his career - released a statement: We are deeply saddened by the sudden and untimely death of Doug Martin. Doug Martin's impact on the Buccaneers franchise was profound. From his record-setting 2012 rookie season to his numerous Pro Bowl selections over his six seasons with the Buccaneers. After being selected No. Martin was selected No. 31 in the first round 2012 NFL Draft. As a rookie, he made a huge impact on the Buccaneers, earning a Pro Bowl spot after a season of 1,454 yards and 11 touchdowns. Martin was plagued by injuries for the remainder of his career. He spent most of it in Tampa Bay. However, he did make a second Pro Bowl and had a 1,400 yard season in 2015. In 2015, he made first team All-Pro. Martin was able to run more than 400 yards in every season of his career, despite the injuries. This consistency has allowed Martin to finish fourth in Tampa Bay's list of all-time rushing yardage with 4,633 over six seasons. With 26 rushing touchdowns he is also the third-most prolific Buccaneers rusher of all time. In 2018, he played one season for the Oakland Raiders, ending his seven-year NFL career. Martin is also a Boise State legend. He rushed for 3,431 yard between 2007 and 2011, placing him eighth in the school's history of rushing. He also ranks sixth in career rushing touchdowns. Field Level Media
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Israel announces a ceasefire after 26 people are killed in Gaza.
Israeli military announced on Sunday that the ceasefire in Gaza was resumed following an attack in which two Israeli soldiers were killed. This attack prompted a wave airstrikes in which 26 people died, making it the most severe test of this month's U.S. mediated truce. An Israeli security source confirmed that aid to the enclave would resume on Monday after U.S.-led pressure. This was shortly after Israel had announced a suspension of supplies as a response to Hamas's alleged "blatant" breach of the ceasefire. According to local residents and medical authorities, the Israeli strike killed at least 26 Palestinians in Gaza, including one woman and one infant. Steve Witkoff, the envoy of U.S. president Donald Trump and his son-in law Jared Kushner are expected to visit Israel on Monday. Both an Israeli and U.S. official confirmed this. After militants fired an anti-tank rocket and launched a missile at its soldiers, Israel said that it had struck Hamas' targets in the enclave. These included field commanders and gunmen as well as a tunnel, weapons depots and a weapon storage facility. Residents said that at least one strike struck a former Nuseirat school which housed displaced people. The Hamas armed wing said that it was committed to the ceasefire accord, unaware of clashes at Rafah and had not been contacted with groups in Rafah since March. Benjamin Netanyahu, the Israeli prime minister, said that he ordered the military forcefully to respond to Hamas violations of the ceasefire. The path to peace is uncertain A senior Israeli official said that aid transfers to Gaza were halted after Hamas violated the ceasefire agreement in a blatant manner. After U.S. pressuring, another Israeli official confirmed that the aid would resume Monday. After airstrikes in Khan Younis, families fled their homes after fearing that the truce would collapse. The strikes resembled Israel's response in late 2024 to what it saw as serious violations of a ceasefire it had signed with Hamas and its Lebanese allies, Hezbollah, less than one week after the ceasefire was implemented, after several days of accusations from both sides of breaching truces, although that ceasefire is still largely intact. There are still formidable obstacles to a lasting peace in Gaza. In March, after two months of relative quiet, Israel launched a barrage airstrikes that triggered a ceasefire. DISPUTE OVER THE BODIES DECEASED HOSTAGES The ceasefire was officially declared on 10 October, ending two years of conflict. However, the Israeli government has been accusing Hamas of violating the ceasefire since days. Defense Minister Israel Katz announced that the "yellow lines" where Israeli forces have pulled back in accordance with the ceasefire agreement will be marked physically and that any attempt to violate the ceasefire, or cross the line, would be met by fire. Hamas outlined what it called a series violations by Israel, which it claims has resulted in the deaths of 46 people and prevented essential supplies from reaching enclave. Israel announced on Saturday that the Rafah crossing between Gaza, Egypt and Israel, which was expected to reopen this week, will remain closed. Its reopening depends on Hamas meeting its obligations under the ceasefire. Israel claims that Hamas has been too slow to deliver the bodies of dead hostages. Hamas released last week all 20 of its hostages and has since handed over 12 bodies. More Aid is Needed The group claims it does not want to keep the bodies of hostages who are still alive and that special equipment will be needed to retrieve corpses from under rubble. Rafah has been largely closed since May 2024. According to IPC's global hunger monitor, hundreds of thousands people in Gaza were declared to be suffering from famine by the IPC Global Hunger Monitor. In previous ceasefires, the crossing was a major conduit for humanitarian aid into the enclave. The United Nations claims that despite the fact that the flow of humanitarian aid through a second crossing has increased since the ceasefire was declared, it is still insufficient. The key questions of Hamas' disarmament, the future of Gaza, and the composition of an international "stabilization" force, as well as the steps towards the creation a Palestinian State, have not yet been resolved. Reporting by Nidal AlMughrabi; Writing by Andrew Mills; Maayan Loubell; and John Kruzel. Editing by Philippa Fetcher, David Holmes, and Deepa Babington.
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Companies claim that Russia has attacked a second energy site in Ukraine, a coal mine.
The operators of these sites reported that Russian forces attacked on Sunday a coalmine in southeast Ukraine and a site unidentified in the north, near the Russian border. This is the latest in a string of attacks on Ukraine's power network. DTEK, a private Ukrainian energy company, said that Russian forces attacked a colliery located in the Dnipropetrovsk Region. The company reported that 192 miners had been safely brought up to the surface without any injuries. The company stated that this was the fourth Russian attack in two months against coal mining operations in Ukraine. Chernihivoblenergo said that an attack in the Chernihiv region, on the border with Ukraine, caused extensive damage. It also cut electricity to over 55,000 customers. It said that emergency crews will restore power to the area as soon as it is safe. In recent weeks, Russian attacks have targeted Ukraine's electricity grid and other energy sites. In the wake of an attack that affected more than a million customers earlier in the month, power cuts have been imposed in a number of areas. (Reporting and editing by Edmund Klamann; Ron Popeski)
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Gold prices soar, but Indians prefer coins to jewellery for the festive season
Industry officials said that Indian buyers chose coins and bars instead of jewellery at the Dhanteras Festival on Saturday because they were hoping the gold price rally would continue. Dhanteras marks the beginning of Diwali, a five-day festival of lights. It is considered auspicious to buy gold. In fact, it is the second busiest day for gold purchases in the world. The volume of gold sold during Dhanteras was 10-15% less than last year. However, the total value increased sharply because prices were higher, according to Rajesh Rokde, chairman, All India Gem and Jewellery Domestic Council. Surendra Mehta is the secretary of the India Bullion and Jewellers Association. He said that gold jewellery demand was hit by record-high prices. Prices dropped nearly 30% compared to last year. However, coins and bars flew off the shelves. India's gold jewellery is more expensive than gold coins because buyers pay manufacturing fees of 10-20%. Gold prices in India closed at 127.008 rupees for 10 grams last Friday, after reaching a record high price of 132.294. This represents a rise of over 60% from Dhanteras last year. India's NSE Nifty50 share index rose about 5% over the period. Sachin Jain is the CEO of World Gold Council India operations. This week, Indian dealers quoted a premium. The price of gold can be up to 25 dollars per ounce more than the official domestic prices. This includes 6% import duties and 3% sales taxes. It is the highest it has been in over a decade. Saurabh Gadgil of PNG Jewellers said that the price rise for silver bars, coins and jewellery has been a major factor in driving demand this year. Dealers said investors believe silver will outperform gold. In recent months, the higher returns of precious metals has attracted strong inflows to physically backed exchange-traded gold and silver funds. Rokde, of GJC, said: "With Dhanteras continuing tomorrow afternoon and jewellery stores staying open until midnight, we expect the buying momentum to continue." (Reporting and editing by Jan Harvey; Rajendra Jadhav)
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New Zealand's Finmin aims to strengthen regional ties as US-China trade war continues
Nicola Willis, New Zealand's Finance Minister, said that regional and bilateral trade relationships would continue to grow in the face of the U.S.-China Trade War. Small countries such as hers will have to adjust to a different reality and maintain their priorities. Willis stated in an interview with The New Zealand Herald on Thursday that New Zealand is acutely aware of geopolitical risks and economic challenges. However, her discussions this week at the World Bank and International Monetary Fund annual meetings showed the strength of international institutions as well as trade agreements among other countries. She said that New Zealand and the European Union have expressed an interest in establishing a partnership under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This is a free-trade agreement between 11 countries, including Canada and Japan. She said that a separate trade agreement with the United Arab Emirates is also promising. She said: "All those trade relations are very strong. The message we receive from our partners is they want to continue building on them and expanding them rather than going the other direction." "We are cautious and worried about any backsliding in agreements. But we don't see signs that this is happening." IMF and global officials highlighted this week uncertainty and risks associated with a new escalation of the U.S. China trade war. However, they also pointed out that global trade has remained resilient, noting only three countries, the U.S. China, and Canada, had increased tariff rates in the past few months. 72% still adhere to the existing rules. Willis stated that New Zealand was also committed to meeting its emissions reductions commitments under Paris Climate Accord and didn't expect the withdrawal of the U.S. by President Donald Trump from the agreement to derail the country's efforts. Willis stated that "we need to adapt and prepare for the threat and risk of more extreme climate events, not only for ourselves but also for our Pacific Island family who are especially vulnerable to significant climatic event," Willis added. She said that consumers in the U.S. and around the globe would continue to have an interest in the emission profile of countries such as New Zealand. This creates a commercial imperative for climate action. Willis stated that existing trade agreements such as New Zealand’s deal with the EU required continued adherence of climate commitments. There are many bilateral agreements around the world in which countries have agreed to continue their climate action. "I'm seeing many nations continue to honor their commitments." Willis added that New Zealand remained a member of the Five Eyes Group, alongside Britain, Canada, U.S.A., and Australia. It was also increasing its defense expenditure along with other countries amid growing geo-strategic tensions and fragility. (Reporting and Editing by Marguerita Chy)
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As local ceasefire zones are set, repairs begin on the Zaporizhzhia Power Plant lines
Officials said that after a four-week power outage at Ukraine's Zaporizhzhia Nuclear Power Plant, repair work had begun on the damaged power lines off-site. IAEA Director-General Rafael Grossi stated that the work started after local ceasefire zones had been established to allow the repairs to progress. The plant produces no electricity at the moment, but it needs to produce power in order to keep fuel cool and prevent a meltdown. "Restoring off-site electricity is critical for nuclear safety and secure. Grossi wrote on the social media platform X that both sides had engaged with the IAEA in a constructive manner to allow a complex plan of repair to move forward. The Ukrainian Energy Ministry and the Russian-appointed Management of the Plant both confirmed that the maintenance work. In the first few weeks of Moscow’s invasion of Ukraine in 2022, Russian troops seized Europe’s largest nuclear power plant with six reactors. Both Kyiv, and Moscow accuse one another of regular attacks that threaten nuclear safety. The power plant, located near Enerhodar on the Dnipro River, is in close proximity to the frontline. The plant has been disconnected from the grid many times during the three-and-a-half years of war. However, the most recent outage was the longest. Svitlana Svitlana Hrynchuk, Ukrainian Energy Minister said connecting the plant to Ukraine's grid and having Ukrainian experts ensure its stability were essential to prevent a nuclear accident. The Russian-appointed plant management said that the Russian Defence Ministry will play a crucial role in ensuring safety during the repair works. Reporting by Rajveer Pardesi, in Bengaluru; Filipp Lebedev, in London; and Olena Hartmash, in Kyiv. Editing by Jan Harvey.
Germany's election in polls, parties and policy arguments
Germany will hold snap elections on Feb. 23 following
the collapse
of Chancellor Olaf Scholz's three-way coalition.
Here are the main parties competing, their survey standings, and the crucial policy problems:
PARTIES
Germany has two centrist, big camping tent celebrations: Scholz's. centre-left Social Democrats (SPD) and the opposition. conservatives, an alliance of the Christian Democrats (CDU) and. their Bavarian sis party the Christian Social Union (CSU).
However, they have both lost assistance in the last few years, with. smaller sized celebrations such as the environmental Greens and far-right. Option for Germany (AfD) gaining ground.
The SPD, conservatives, Greens and AfD are all fielding. prospects for chancellor.
Also running are the pro-market Free Democrats (FDP), the. far-left Linke and the leftist Sahra Wagenknecht Alliance (BSW),. who are all at risk of missing the 5% limit to make it into. parliament, according to opinion surveys.
SURVEYS
The conservatives have been leading across the country polls for. more than two years and are at 30%, according to the current. survey released by INSA, followed by the AfD at 22%.
Scholz's SPD, with 16%, has actually dropped to 3rd from the first. location it achieved in the 2021 election. It is followed by the. Greens on 13% and the BSW on 6%. The FDP and Left party are. ballot at 4% and 3% respectively.
However, experts state surveys can shift rapidly, with voters. less loyal to parties than they when were, recalling the 2021. election project when the conservatives went from frontrunner. to runner-up within a few months.
The conservatives' leader Friedrich Merz, in particular, is. thought about to be susceptible to gaffes and fast to anger.
POLICY DEBATES
- Ukraine
Germany's mainstream celebrations are all in favour of assisting. Ukraine ward off Russia's major intrusion, while the AfD and. BSW want an end to weapons shipments to Kyiv and a resumption. of good relations with Moscow. Nevertheless, Scholz and his SPD have actually recently struck a more careful. tone - stressing the requirement for diplomacy and prudence - than. the conservatives, Greens and FDP, who are for instance all in. favour of Germany delivering long-range Taurus rockets to. Ukraine.
- Restoring the economy. Scholz has actually proposed incentivising private financial investment and. modernising facilities with an off-budget 100 billion euro. fund. His SPD likewise plans a direct tax refund of 10% on devices. financial investments by organizations.
The Green's Robert Habeck has, like Scholz, called for. reform of the constitutionally enshrined financial obligation brake to allow for. higher public costs. Merz had actually also signified some openness to a moderate reform of. the debt brake however his celebration's manifesto has promised to retain. it. The AfD and the FDP are strong defenders of the limit on. public loaning.
The CDU/CSU manifesto has actually likewise proposed substantial financial. relief for business and residents, including income and. corporate tax cuts, and lower electricity charges. They have not. said how these would be funded. The AfD desires the country to ditch the euro, reintroduce the. Deutsche Mark and potentially leave the EU.
- Migration. The anti-Islam, anti-migration AfD has required borders to be. closed and asylum candidates to no longer can household. reunification. Some senior members have gone further in their. remarks and were present at conversations amongst reactionary. activists on deporting millions of individuals of foreign origin,. including German people.
The conservatives have actually embraced a much more stringent stance on. immigration over the last few years, promoting for pressing back asylum. seekers at the borders, while requiring limits on household. reunifications and naturalization for refugees.
They likewise desire everyone making an application for asylum in Europe to be. transferred to a safe 3rd nation for processing their claims.
The SPD has likewise strengthened its position by implementing. more stringent border controls and accelerating deportations, although. it likewise wants to bring in more foreign knowledgeable workers.
In contrast, the Greens preserve a more open asylum policy,. promoting state-backed sea rescue efforts and streamlining. family reunification procedures and improving combination.
- Energy
High energy costs remain a significant challenge for homes. and services in Germany and an important election campaign. subject.
The CDU, SPD and Greens agree on broadening renewable energy. to lower expenses but vary on funding methods: the CDU. recommends utilizing greater CO2 certificate profits to lower network. charges, while the SPD and Greens support debt-financed state. subsidies. The CDU and AfD also propose assessing a return to. nuclear power, a concept rejected by the SPD and Greens.
The AfD opposes renewable resource subsidies entirely,. promoting for unlimited coal-fired power plant operations. and abolishing CO2 pricing to lower consumer costs and boost. energy security.
- Relations with the Trump administration
The concern of how to tackle the inbound administration. of U.S. President-elect Donald Trump, which has actually already flagged. the possibility of increased tariffs and lower military assistance. for Europe, is especially delicate for Germany. The United. States stays the top location for German exports and its. main security ally.
The SPD's Scholz greatly
countered
Trump's comments on Greenland and Canada, while frontrunner. Merz alerted against lecturing him, emphasizing rather locations of. possible cooperation, like a prospective EU-U.S. trade deal or. joint China technique.
The Greens' Habeck warned that the EU needs to stand united and. look for talks with the U.S. because a trade war will eventually. harm all sides.
All of the mainstream parties have expressed scepticism. about Trump's need for European nations to increase spending. on defense to 5% of financial output offered Germany will currently. struggle to keep to 2% after its special fund for the military. goes out. Habeck, nevertheless, has already proposed a boost to. 3.5%.
The party that has most welcomed the incoming U.S. administration among the German parties is the AfD, which. received numerous recommendations from Trump's ally Elon Musk,. leading to his
conversation
on X with the party's chancellor candidate Alice Weidel.
(source: Reuters)