Latest News
-
Media reports: At least 29 people killed and 50 injured in Indian actor-politician Vijay’s rally
The Hindu newspaper, citing state Health Minister Ma, reported that at least 29 people died and 50 were injured during a protest held by Tamil actor-politician Vijay, in Tamil Nadu state, south of India. Subramanian. The report stated that large crowds attended the meeting as part of Vijay’s ongoing tour of the state for his political party Tamilaga Vettri Kazhagam. Vijay is a single-named candidate who will be running in the state elections to be held at the beginning of next year. The report also stated that at least 44 doctors were sent from nearby districts Tiruchirappalli (Tirupati) and Salem (Salem). In a recent post, Prime Minister Narendra Modi stated that the incident at a Karur political rally is "deeply saddening". The health ministry of Tamil Nadu and the office of Chief Minister MK STALIN in Tamil Nadu did not respond to calls. The news from Karur was worrying, said Stalin in an X-post. He added that he directed ministers and other officials to provide immediate medical aid to those who had collapsed during the Karur rally. Additionally, he ordered Tiruchirappalli to send additional help. (Reporting and editing by Barbara Lewis in Bengaluru, with reporting by Devika Nirra from Bengaluru)
-
Peru's Gen-Z protests pensions, corruption and President Boluarte
On Saturday, Peruvian youth will rally for a second round of protests to protest against President Dina Boluarte, one week after clashes between police and protesters in the capital left over a dozen officers, journalists, and protesters injured. Protests broke out on September 20, following changes to Peru's pension system, which required all Peruvians over 18 years of age to sign up with a pension provider. However, they were also fuelled by anger that had been building against Boluarte for a long time. "There has been a low level of simmering discontent in Peru for quite some time," said Jo-Marie Burt. She is a visiting professor in Princeton University's Latin American Studies program and has studied Peruvian politics over the past decade. Burt stated that the discontent was fueled by corruption, economic insecurity and rising crime. There is also anger about the lack of accountability for dozens of protesters killed by security force when Boluarte took power late in 2022, after former president Pedro Castillo had been removed from office. According to the July report of the Institute of Peruvian Studies, Boluarte has a 2.5% approval rating while Congress is at 3%. Apart from the unrest, protests in the mining industry have shaken the country. Hudbay Minerals announced on Tuesday that it had temporarily closed its mill in Peru due to the ongoing unrest. Peru is the third-largest copper producer in the world and also a major gold and silver producer. The Peruvian Youth Take to the Streets The Gen Z protests in Peru follow the youth demonstrations that took place in Nepal and Indonesia. The demonstrations have been marked by a skull wearing a straw cap, a symbol taken from the Japanese manga "One Piece", about pirates who are on the hunt for treasure. Leonardo Munoz, a protester in Lima who has adopted the symbol. Munoz explained that "the main character Luffy travels from one town to another, freeing people of tyrannical and corrupt rulers who rule over slave towns." It represents what is happening in different countries. "That's what's happening in Peru right now." According to the INE statistics agency in Peru, 27% percent of Peruvian population are between 18 and 29 years old. "We are tired of it being normalized. "Since when have normalized death? Since when have normalized corruption and extortion?" asked Santiago Zapata a student activist. "My generation is now coming out to protest because we are tired of being made to feel scared when the government that we elected should be afraid of us." DEMOCRATIC BACSLIDING IN PERU & ABROAD Burt says that the protests are part of a larger context where democracies around the world are under pressure. They also follow the efforts by the administration to weaken the courts, watchdogs, and prosecutors. She said: "It is very similar to what happened under Fujimori in the 1990s, when the justice was captured essentially for the consolidation of authoritarian controls." Burt pointed out that while the United States is less inclined to support democracy abroad and there are still concerns about the administration's erosion of electoral institutions in the run-up to the 2026 elections in Peru, previous protests helped to "hold the line" against institutions being taken over and even led to the removal of presidents. "Democratic forces can mobilize, and act in unexpected, positive ways, even if there is almost total control from these authoritarian system," Burt said. He added that the key will be whether or not protests are sustained over time. "The opera is still not over."
-
Italy receives 10 bids on Ilva Steel as the major competitors withdraw
Acciaierie d'Italia, the national steelmaker, said that Italy received 10 bids to buy the former Ilva Steel Plant. However, only two bidders were interested in buying the entire company. The two groups who were originally frontrunners in the tender, Azerbaijan’s Baku Steel Company, working with Azerbaijan Investment Company, and India’s Jindal Steel International have now withdrawn. Bedrock Industries is a U.S.-based investment company that has a private ownership, and Steel Business Europe, a Slovak steel trader, are the two bidders who remain interested in buying all of Ilva. Eight other offers, including those from Renexia Group (Toto), Industrie Metalli Cardinale, and Marcegaglia, targeted individual assets held by Ilva. Ilva, a steel mill based in Taranto that was once Europe's biggest, has been plagued by poor management, and environmental concerns. Ilva has been in financial turmoil for years, and the state has repeatedly injected funds to keep it afloat citing its strategic value. Italian media reported that Baku Steel had abandoned its investment plans because local opposition prevented the deployment a regasification ship needed to power its project for more environmentally friendly electric kilns. Jindal Steel is now focusing on Thyssenkrupp of Germany, who are also in the market. The latest round of tenders closed on Friday at midnight. Acciaierie d'Italia stated that its commissioners will need "an appropriate period of time" in order to review all offers. They will focus on employment issues, decarbonisation and investment amounts, to ensure sustainable development of the facility. The Italian metalworkers union UILM issued a statement in which it said that the tender was "a complete failure" and added that the two funds competing for Ilva's entire assets lacked any industrial credibility. UILM stated that "to avoid the total shutdown of the former Ilva, and an unprecedented environment, employment, and economic disaster, the only way forward is nationalisation." (Reporting and editing by Barbara Lewis; Crispian Balmer is the reporter)
-
Nigeria's oil union stops gas supply to Dangote Refinery due to mass dismissals
The Nigerian oil workers' union ordered its members on Monday to stop gas supplies to the Dangote Petroleum Refinery. This escalated a labour dispute that had been sparked by the dismissal hundreds of Nigerian workers. The Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN), has directed all its branches in major oil companies to stop crude and natural gas deliveries at the refinery immediately. According to a letter from September 26, the union accused Dangote of "misinformation" and "propaganda" rather than addressing the alleged wrong disengagement of unionised workers. "The crude oil supply valves should be closed." In the directive, PENGASSAN's General Secretary Lumumba Okugbawa stated that all loading operations for vessels heading there must be stopped immediately. The directive was issued just days after Dangote refinery fired Nigerian workers and replaced them, according to reports, with foreigners, mostly Indians. The company claimed that the dismissals were a part of a reorganisation to improve safety and operational efficiency. Dangote Refinery didn't immediately respond to an inquiry for a comment about the PENGASSAN Letter. This dispute has increased pressure on the $20-billion refinery that announced it would stop selling petrol in naira as of September 28 due to shortages in crude oil and mismatches with foreign exchange rates. This has led to concerns over rising fuel costs and a further strain on Nigeria’s currency. PENGASSAN has ordered oil company union chapter chairs to "report immediately the progress of the Directive", signaling a coordinated shut down that could disrupt fuel supply in Africa's largest country. (Reporting and Writing by Ben Ezeamalu, Editing by Toby Chopra).
-
Nigeria's Dangote refining plant halts the sale of naira fuel due to crude supply shortages
According to a memo sent to customers by the company, Nigeria's Dangote Refinery has stopped selling petrol locally in naira, citing an unsustainable volume that exceeded its crude allotments. The suspension, which takes effect on September 28, could complicate attempts to reduce dollar demand in Africa’s largest economy where fuel imports are a long-standing strain on foreign reserves. The company stated in a memo that "Dangote Petroleum Refinery & Petrochemicals have been selling petroleum products over our Naira Crude allocations, and as a result, we will not be able to sustain PMS in Naira moving forward." The refinery was selling petrol on the domestic market in naira under an agreement with the Nigerian National Petroleum Company to swap crude for naira. The government initially welcomed the initiative as a means to support the naira and reduce the dollar pressure. Dangote’s increasing exports, including fuel oil, naphtha and diesel to Europe and West Africa, as well as the United States, have raised concerns about domestic priorities. The memo advised customers with pending transactions in naira to request refunds in writing. The refinery didn't immediately respond to our request for comment. Sources familiar with the situation say that Dangote had just laid off a number of Nigerian employees. Nigeria struggles to reduce inflation, which is above 20%. It also tries to stabilize a currency that has been weakened by the dollar shortages as well as subsidy reforms. Analysts believe that the decision to stop naira sale could force more marketers to purchase petrol in dollars and further pressure the naira. The 650,000-barrels-per-day refinery, Africa's largest, was expected to transform Nigeria's fuel landscape. Its domestic obligations and its export ambitions have now been questioned. Ben Ezeamalu, Emelia Sithole Matarise and Ben Ezeamalu are responsible for reporting and writing.
-
Equinor, Partners Bolster Åsgard Production with Subsea Compressors Upgrade
Equinor and partners in Åsgard and Mikkel licenses have started the second phase of Åsgard subsea compression in the Norwegian Sea, with the aim to maintain production from the field by increasing the pressure in the pipelines between the wells and the Åsgard B platform.The first plan for development and operation (PDO) of Åsgard was approved in 1996. The field came on stream with Åsgard A in 1999 and Åsgard B in 2000. In 2012, the PDO for Åsgard subsea compression was approved by the authorities, and the first phase of Åsgard subsea compression came on stream in 2015.This was the world's first facility for gas compression on the seabed and the result of extensive technological development.The plans described that there would be a need for increased pressure in the long term to compensate for the pressure drop in the reservoirs. The first compressor module in phase two was replaced in 2023, now the second and final module has been installed, at a depth of 270 meters.With a total weight of 5100 tons, a footprint of 3300 m2 and towering 26 meters above the seabed, it is the largest subsea processing plant ever installed.The ÅSC station, located in 270 meters of water on the Midgard field (Credit: Equinor)The station consists of two identical compressor trains operating in parallel, each powered by a compressor with an electric motor capacity of 11.5 MW.A complete spare train is available in Kristiansund, which makes it possible to quickly replace parts if problems occur. The system is modular, with a number of key components from the old compression modules overhauled and reused in the new modules.Combined for both phases, the recovery rate from the Mikkel and Midgard fields will increase to 90% due to the compressor plant. This amounts to an additional 306 million barrels of oil equivalent from the fields.The Åsgard licence is operated by Equinor, which holds 35.01%, alongside Petoro with 34.53%, Vår Energi with 22.65% and TotalEnergies EP Norge with 7.81% stakes. The nearby Mikkel license is also operated by Equinor with a 43.97% stake, together with Vår Energi with 48.38% and Repsol Norge with 7.65% interests.“In this project, Equinor, together with partners and suppliers, has further developed and qualified the next generation of compressor modules. The technology allows us to recover more gas from producing fields. Good resource utilization is important to maintain high and stable production from the Norwegian continental shelf," said Trond Bokn, Equinor's senior vice president for project development.
-
Indonesia's Pertamina says fuel retailer Vivo agrees to purchase gasoline
Pertamina, the Indonesian state energy company, said that Vivo Energy Indonesia, a private retailer, has agreed to purchase 40,000 barrels out of 100,000 barrels imported by Pertamina to relieve fuel shortages in private retailers. Shell, BP AKR – the operator of BP’s fuel stations – Vivo and other companies ran out of supplies this month after more customers sought them out following a report on the quality of Pertamina’s gasoline. In order to alleviate the shortages, the government has allowed private retailers to import additional fuel via Pertamina. Vivo has agreed to an inter-business agreement with Pertamina. Vivo will take 40,000 barrels of the 100,000 barrels offered by Pertamina Patra Niaga to serve its clients. Pertamina Patra Niaga said it had ordered 16,000 kilolitres of gasoline (100,640 barrels) that arrived this past week. The state firm offered the cargo to petrol stations including Shell and BP AKR. Dumatubun stated that a surveyor will be appointed by both parties to conduct a quality-and-quantity test of the gasoline following the agreement. A spokesperson for the energy ministry also stated that fuel was now available to private retailers and companies were in discussions about distribution. Shell declined to immediately comment. Shell refused to comment immediately. According to the energy ministry, the remaining import quota of Pertamina of 7.52 million kilolitres could be used by private retailers. Reporting by Fransiska Nanangoy, Jakarta; Editing and proofreading by Kirsiska Donovan and Kim Coghill
-
The Nuclear Company announces a partnership with Nucor in order to increase US nuclear power supplies
The Nuclear Company announced on Friday it had signed a strategic partnership with U.S. Steelmaker Nucor Corporation in order to support the domestic manufacturing and boost nuclear power supply chains. TNC, an American nuclear deployment company, announced that the companies would assess the use of NQA-1 and related infrastructure in gigawatt nuclear reactors according to the American Society of Mechanical Engineers certification standards. TNC stated that the partnership is in support of executive orders by President Donald Trump, which target 400 gigawatts of nuclear power (GW) by 2050. This includes construction of ten large-scale reactors within the next five year period. The United States has launched a campaign to speed development After Trump, on his first day in office, in January, issued an order declaring an emergency, power plants and transmissions lines were shut down. Energy emergency Artificial intelligence, data centres, and electric cars are driving up power demand, for the first two decades. TNC's partnership with the U.S. also aims at helping it compete against China and Russia who have rapidly expanded their nuclear reactor fleets in recent years. Jonathan Webb, CEO of TNC said: "Our partnership will help protect America's security and energy independence. It will also create a more resilient economic environment." (Reporting by Sarah Qureshi in Bengaluru Editing by Marguerita Choy)
US and China to start new talks on tariff truce, easing the path for Trump-Xi Meeting
The top U.S. economic officials and Chinese economic officials are scheduled to resume their talks on Monday in Stockholm to address long-standing economic disputes that have been at the heart of the trade war between two of the world's largest economies. They hope to extend the truce for three months while preventing tariffs from rising sharply.
China faces a deadline of August 12 to reach a lasting tariff agreement with the administration of President Donald Trump. Beijing and Washington had reached preliminary agreements in May and early June to put an end to weeks of escalating tariffs, including a ban on rare earth minerals.
If there is no agreement, the global supply chain could be thrown into turmoil by U.S. tariffs returning to triple-digit rates that would amount a bilateral embargo.
The Stockholm talks follow Trump's largest trade deal to date with the European Union, which was announced on Sunday. It included a 15% tariff for most EU exports into the U.S. including automobiles. The EU will also invest $600 billion in U.S. energy and buy $750 billion of American energy over the next few years.
Trade analysts say that a similar breakthrough in the U.S. China talks is unlikely, but a 90-day extension to a tariff- and export-control truce reached in mid-May seems likely.
A longer extension would help prevent further escalation, and allow for planning a possible meeting between Trump and Chinese president Xi Jinping at the end of October or beginning of November.
A U.S. Treasury spokeswoman declined to comment on a South China Morning Post article citing unnamed sources who said that the two sides will refrain from introducing any new tariffs for 90 days or taking other actions which could escalate the trade conflict.
Trump's administration will soon impose new tariffs on China, including those on semiconductors. Pharmacies, ship to shore cranes, and other products.
"We are very close to making a deal with China." "We're very close to a deal with China," Trump said on Sunday, before European Commission President Ursula von der Leyen signed the tariff agreement.
DEEPER ISSUES
The previous U.S.-China talks held in Geneva and London between May and June were aimed at reducing the U.S. and Chinese tariffs from triple digit levels, and restoring flow of Nvidia H20 AI chips as well as other goods that had been halted in the United States.
The talks so far have not covered broader economic topics. The U.S. has complained that China's export-driven, state-led model floods the world's markets with cheap products, while Beijing complains that U.S. export controls on technology goods are meant to stunt Chinese economic growth.
"Geneva and London really were just trying to get their relationship back on track, so that at some point they could actually negotiate about the questions which are the source of the initial disagreement between the two countries," said Scott Kennedy. He is an expert in China economics at the Center for Strategic and International Studies, Washington.
Kennedy stated that "I would be surprised if some of these things were harvested early, but an extension of 90 more days of the ceasefire seems the most likely result."
U.S. Treasury secretary Scott Bessent already announced a deadline extension. He also said that he wanted China to rebalance their economy from exports towards more domestic consumption, a goal of U.S. policymakers for decades.
Analysts believe that the U.S. and China negotiations will take more time than other Asian nations. China's hold on the world market for rare earth magnets and minerals, which are used in everything from car windshield wiper motors to military hardware, has proven to be a powerful leverage point against U.S. industry.
TRUMP-XI MEETING?
The background to the discussions is speculation regarding a possible Trump-Xi meeting in late October.
Trump said that he would decide on his historic trip to China soon, but a new flare up of tariffs and export control measures could derail the planning.
Sun Chenghao is a fellow with the Center for International Security and Strategy at Tsinghua's Center for International Security and Strategy, Beijing. He said the Trump-Xi Summit would give the U.S. an opportunity to lower its 20% tariffs against Chinese products related to fentanyl. He said that in exchange for the Chinese commitment to purchase more U.S. farm goods and other goods by 2020, they could fulfill their 2020 pledge.
Sun stated that the future summit of heads of state is a very positive prospect for the negotiations, as everyone wants to achieve an agreement or pave a way ahead.
Analysts said that China would likely ask for a further easing of U.S. export controls on high-tech products and a reduction in the multi-layered U.S. duties totaling 55 percent. Beijing argues that these purchases will help reduce the U.S.-China trade deficit, which is expected to reach $295.5 billion by 2024. (Reporting and editing by Diane Craft; David Lawder)
(source: Reuters)