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Officials say that three people were killed in an attack by Russia on the south of Ukraine
Local authorities reported that Russian missiles and drones killed three people and injured ten more in Ukraine's southern region on Thursday after an overnight barrage. The regional governor announced on Telegram that two men aged 56 and 60 were killed and five others were injured in an artillery attack on Nikopol. He said that the attack caused a fire, damaged a civilian infrastructure and a store. The mayor of Kherson said that one person died during an airstrike by the Russians on Kherson. A teenager and four adults were also injured. Moscow's forces frequently attack both cities by their positions on the other side of the Dnipro River. The Ukrainian air force claimed that Russia launched five missiles, and 75 drones in an overnight attack. Meanwhile, Russia claimed to have destroyed or intercepted seventy-one Ukrainian drones across six Russian regions. The violence continues despite President Donald Trump’s attempts to arrange a truce in the three-year old war that was sparked by Russia’s total invasion of Ukraine. On Thursday, top Ukrainian officials visited Paris in an unannounced trip. They were there to attend talks between European and U.S. officials on Ukraine.
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Finland investigates Russia sanctions breach regarding nuclear plant construction
The Finnish customs authority announced on Thursday that it was investigating a possible breach of Russian sanctions involving documents relating to the construction and operation of a nuclear plant. The Economic Crime Investigation Unit of Finnish Customs released a statement that the preliminary investigation focused on an important number of archived documents which were allegedly taken from a warehouse in Kymenlaakso to Russia. According to preliminary investigations, certain data are classified as materials subject to sanctions against Russia. Finnish Customs refused to comment on the matter further but stated that the managing director for a construction firm involved in the project is a suspect. Finn Customs has said that a decision will be taken about whether or not to charge a person after the investigation is complete. Finland has five reactors in two power plants, Loviisa & Olkiluoto. Fortum, the owner of Loviisa, and TVO, Olkiluoto’s owner, both said that their plants were excluded from the investigation. After the Russian invasion of Ukraine, Finland canceled plans to build a sixth plant in Hanhikivi. The reactor was to be supplied by Rosatom.
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State media reports that an Iranian minister has arrived in Russia to deliver a message by Khamenei.
Iranian state media reported that Iranian Foreign Minister Abbas Araqchi arrived in Moscow on Friday to deliver to Russian President Vladimir Putin a message sent by the Islamic Republic's supreme leader Ali Khamenei. U.S. president Donald Trump has repeatedly warned Iran of bombings and secondary tariffs, if Tehran fails to reach an agreement with Washington regarding its disputed nuclear programme. The United States have also moved additional warplanes in the region. Both sides characterized the U.S.-Iran talks held in Oman at the weekend as constructive and positive. Araqchi stated on Wednesday, ahead of the second round of negotiations that will take place this weekend in Rome, that Iran's right not to enrich uranium was non-negotiable. Araqchi posted a video on his Telegram account of him arriving at Moscow. Western powers claim that Iran refines uranium beyond the permissible level for a civil energy program and near to the level required for an atomic weapon. Iran has long denied seeking nuclear weapons. Russia has stated that any military attack against Iran would not be legal and inacceptable. On Tuesday, the Kremlin declined to respond to a question about whether Russia would be willing to take over Iran's enriched uranium stocks as part of an eventual nuclear agreement between Iran and United States. Reporting from Moscow and Dubai, Felix Light's writing; Guy Faulconbridge, Mark Trevelyan and Guy Faulconbridge are responsible for editing.
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Tariffs weigh on major Gulf markets, causing them to decline
Investors were concerned about the uncertainty surrounding U.S. trade policies and a possible economic slowdown. Traders await signs of progress in negotiations between the administration of U.S. president Donald Trump and its trading partners. This includes ongoing trade discussions with Japan. The biggest concern is the direction of any possible discussions with China. Saudi Arabia's benchmark Index fell 0.5%. This was due to a fall of 1.5% in ACWA Power Company, and a drop of 1.3% in Saudi Arabian Mining Company. Investors also absorbed comments made by Federal Reserve chair Jerome Powell who warned about the risks of slowing down growth and increasing prices due to tariffs. Dubai's main stock index fell 0.1% due to a drop of 1.6% in Emaar Properties, a blue-chip developer. Abu Dhabi's index also fell by 0.1%. Commercial Bank lost 2.6% after a sharp drop in the first-quarter profits. Qatar's benchmark dropped 0.5%. Oil prices rose on the prospect that supply would be tightened after Washington imposed new sanctions to curtail Iranian oil trade and some OPEC producers promised to cut more production to compensate for pumping over their agreed quotas.
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Gold prices fall from record highs as investors cash out
On Thursday, gold prices fell from their record high as investors took profits after a rally fueled by fears over President Donald Trump's latest tariff policies. As of 0827 GMT spot gold was down by 0.8%, at $3,318.19 per ounce. It had earlier reached a session high of $3 357.40. Bullion is up 2.5% this week. U.S. Gold Futures dropped 0.5% to $3330.50. The reversal from new all-time highs is likely due to some profit-taking on the highs. "A slightly stronger tone in an otherwise weak U.S. Dollar likely took the edge of gold," said Ross Norman an independent analyst. Price dips are being bought in, indicating underlying sentiment that is very positive. Dollar index rose from a near three-year low, making gold expensive for those who hold other currencies. Gold prices rose by 3.6% Wednesday as a result of Trump's decision to launch a probe on potential tariffs for all imports of critical minerals, along with reviews on pharmaceuticals and chips. Jerome Powell, the U.S. Federal Reserve chair, said that the Fed will wait for more data to be released before changing rates. He also warned that Trump's tariff policy could push inflation even further away from its goals. Gold is traditionally seen as a hedge to inflation. It also thrives in an environment of low interest rates. Carsten Menke is an analyst with Julius Baer. The demand for gold in India was muted this week due to a price surge that curbed purchases. Premiums in China, the top consumer of physical gold, remained stable. "Reduced participation by traditional gold purchasers might signal that the move is closer to the end than it is the beginning." Norman says it is hard to imagine a scenario in which gold could correct lower right now, unless it was technically overbought or overextended. Silver spot fell 1.2%, to $32.37 per ounce. Platinum dropped 0.6%, to $961.10 and palladium fell by 2.5%, to $948.01. (Reporting and editing by Emelia Sithole Matarise in Bengaluru)
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Qatar increases June term price of al-Shaheen crude oil, say sources
QatarEnergy increased the term price of al-Shaheen oil loading for June by $1.76 a barrel over Dubai's quotes, according to trade sources on Wednesday. The increase was the first in three months, and it came after a premium of $1.29 a barrel for cargoes loaded in May. Dubai and Oman, Middle East benchmarks for crude oil, also saw increases this month. This was due to increased buying interest after the drop in oil prices. They said that the producer sold two cargoes at a price premium between $1.68 and $1.75 per barrel over Dubai's quotes. One cargo was sold to ExxonMobil for a price premium of around $1.71 per barrel. The other cargo went to Trafigura, at about $1.70. The cargoes will be loaded on June 1, 14, 15, 26-27, and 28. Sources said that QatarEnergy sold crude oil from Qatar Land to Shell, and a cargo of Qatar Marine to Unipec. Companies rarely comment on commercial deals. Reporting by Siyi and Florence Tan from Singapore, editing by Kirby Donovan and Mrigank Dahniwala
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Overnight, Russia shoots down dozens of drones; Ukraine strikes Shuya a second time
The Russian Defence Ministry announced on Thursday that Russian air defence systems intercepted or destroyed 71 Ukrainian drones in six Russian regions over the course of one night. The majority of drones, 49, were brought down in the Kursk area, while others fell in Oryol and Ryazan regions, Bryansk and Vladimir, Tula, or Oryol. According to a Telegram statement, authorities in the Ivanovo Region of Russia, located east of Moscow said that Ukrainian drones attacked the town Shuya but no injuries or damages were caused. Shuya is under attack for the second time in a week. It is located around 1,150 kilometers (715 miles), from the Ukrainian border. The town is home to a Russian missile brigade, which Ukraine blames for the Sunday attack on Sumy that left at least 35 dead. Russian Telegram channels circulated videos which appeared to show a base being hit and at least one fire blazing on its premises. The footage could not be verified. The Russian-installed Zaporizhzhia Nuclear Plant management said that in the Russian-held region of Ukraine's Zaporizhzhia, a Ukrainian drone was downed at a distance of 300 metres (985 ft) from the plant. This is Europe's biggest nuclear plant. Reporting by Felix Light, Writing by Guy Faulconbridge, and Editing by Ros Russell.
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Diamondbacks sweep Marlins in series
Arizona Diamondbacks will try to complete a series sweep against the Miami Marlins after they hit seven home runs in the last two days. The final will feature a pitching matchup between Miami's Edward Cabrera (0-1, 3.18 ERA), and Arizona's Eduardo Rodriguez (2-2, 4.86 ERA). Cabrera missed the beginning of this season because he had a blister in his middle finger on his right. On Friday, he made his debut in 2025. He was given a no decision after a loss of 7-4 to the Nationals. Cabrera pitched 5 2/3 innings and allowed two runs, four hits, three walks, and five strikeouts. Cabrera has been battling injuries throughout his career. He is 0-1 in his two career starts and has a 6.75 ERA. In his previous four seasons, he never started more than 20 games. However, he has reached this milestone exactly in the last two years. Cabrera has a career record of 11-7 at home with a 3.90 ERA. Cabrera is only 6-15 on the road with a 4.70 ERA. He tends to be better at pitching in the second half (3.64 ERA), as opposed to the beginning (5.32 ERA). Cabrera, a hard-thrower, worked on improving his mentality and muscle mass this winter. Marlins' manager Clayton McCullough stated that Edward is a "special talent". When you combine his fastball, changeup, and spin on his breaking pitch it's like a good Edward Cabrera. Rodriguez, 32, is a Venezuelan native who made his debut in 2024 on August 7th due to a lat injury. He is usually a reliable pitcher who was 19-6 in 2019 for the Red Sox, finishing sixth in American League Cy Young Award Voting. In 2018, 2021, and 2023, he also won 13 matches. Rodriguez is only 3-6 in 2024, despite his 1-1 record with a 7.84 ERA over two career starts. Scouts say that his problem is high exit speeds. Eugenio, one of his teammates who is struggling offensively, will be a great help to him. Suarez, a pull-hitter with a high strikeout rate, is currently in a slump, which has caused his batting to fall to.159. In his last 13 games he is 5-for45 (.111), with no RBIs, and 18 strikes. He is a dangerous player when he hits the ball well. Last season, he had 30 homers with 101 RBIs. He averaged 98.5 runs over the last two years. Torey Loviplo, Arizona's manager, said that it was only a question of time until he figured out the formula. "He is in a bit of a slump, but I encourage him to hit good pitches instead of trying to chase results or base hits. Keep your routine and chase the good parts of the process. Prior to Wednesday's game, the Marlins traded Jonah Bride, a corner infielder, to the Twins in exchange for cash. Bride, who had no other options, batted only.100 (4 for 40) this year in Miami. The Marlins may activate infielder Connor Norby for Thursday's game, now that Bride is out. He was sidelined in the first weeks of the season due to an oblique injury. Norby, 24 could return to his position as Miami's third baseman. He had a.760 OPS in 36 games with the Marlins after being acquired by the Marlins through a trade from the Baltimore Orioles. Field Level Media
JSW, a Polish miner, suffers a net loss of $500,000 due to lower coal prices and weak demand
The company reported on Tuesday that the decline in coking coal prices, and a weaker demand for coal led to a loss of 7,24 billion zlotys (1.85 billion dollars) in 2018 from a profit of 993.9 millions zlotys (993.9 million dollars) made by JSW between 2023 and 2018.
The results were in line with the preliminary data that was reported by the company at the beginning of March.
Why it's important
JSW is Europe's largest coking coal producer, essential to steel production.
The EU has listed coking coal as a critical raw material because steel is essential for the construction of renewable energy sources and other infrastructure. The EU wants to guarantee a sustainable and secure supply of the materials listed.
CONTEXT
JSW will be hit by the falling prices of coking coal, a weaker demand as a result of lower steel production and increased competition with non-European suppliers, such as China and Indonesia, in 2024.
The company has proposed to not pay a dividend in 2024. In 2018, it stopped paying dividends.
By the Numbers
JSW's revenue fell to 11,33 billion zlotys from 15,34 billion zlotys by 2023. This was mainly due to the lower coal price and decreased demand.
The company reported a 6.50 billion-zloty loss for the year, as compared to earnings of 4.56 billion-zlotys on the same basis in 2023.
(source: Reuters)