Latest News
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Eight people are feared dead following a bus sinking into Lake Baikal in Russia.
The local governor of Siberia, Igor Kobzev said that seven Chinese tourists and the bus driver are believed to be dead after a 'tourist' bus plunged into Lake Baikal when the ice beneath it broke. He said that one tourist managed to escape and the search for the others continues. Tourists flock to the world's largest lake located in northern Mongolia. Irkutsk's prosecutor's said a criminal case had been opened, and that the?circumstances?were under investigation. The number of Chinese tourists visiting Russia has increased a lot in the last few years. This is due to the political rapprochement and the "no-limits" strategic partnership that was declared by the two neighbours.
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US orders restrictions on new FEMA disaster deployments during DHS shutdown
Internal messages obtained by showed that the U.S. Department of Homeland Security, which is under the administration of President Donald Trump, has ordered the Federal Emergency Management Agency (FEMA) to suspend the deployment of hundreds of relief workers in disaster-affected regions around the country. FEMA, which is a part of DHS, has been operating largely despite the partial shutdown. The shutdown occurred after Republicans and Democrats were unable to reach an agreement?on immigration reforms. DHS has issued an order to stop all DHS-funded travel as of 2/18/26. This will last until the end of the budget lapse. According to an internal email from Kurt Weirich a FEMA chief of staff, this DOES include travel for disasters. CNN reported that more than 300 FEMA disaster response workers were preparing for future assignments, but they were told to stop. This included some who are currently in a training facility. Trump announced on Monday that the federal government would step in to help protect the Potomac River after a major sewer line collapsed in Washington, D.C., last month. On January 19, a sewer line in Montgomery County Maryland collapsed, causing an overflow into the Potomac River of more than 240,000,000 gallons (909,000,000 liters). Trump stated that FEMA will coordinate the response, as it has experienced a'significant reduction in staff since Trump took office, January 2025. CNN reported that FEMA had only deployed a few resources, if any at all, to help with the sewage leak. CNN was told by a FEMA spokesperson that restrictions on travel were "not an option, but necessary to comply with federal laws." CNN cites a statement that states "FEMA travel related to active disasters are not cancelled." FEMA has a mission to help people in disasters such as hurricanes, tornadoes earthquakes, and floods. It provides emergency personnel, equipment and supplies to the affected areas. (Reporting and editing by Ted Hesson in Washington, Kanishka Singh at the Associated Press)
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Peru's Jose Balcazar is installed as interim President after Jeri was ousted during political turmoil
On Wednesday, Peruvian legislators elected Jose Balcazar to be the interim president of the country ahead of the general elections scheduled for April. This makes him the eighth president the country has had in the last five years. Since 2018, Peru has seen a rapid succession in presidents. This reveals a rupture between the executive and Congress, as well as a fragmented system of parties that is unable to form lasting coalitions. Balcazar (83), replaces Jose Jeri who was ousted from office after only four months by Congress following a scandal involving undisclosed meeting with a Chinese businessman. Balcazar also takes on the role of "head of Congress". Balcazar, who was given the presidential sash at a short swearing-in ceremony on Wednesday evening, said: "I will defend nation's sovereignty, physical and moral integrity, and independence of democratic institutions." Balcazar was elected by the lawmakers over Maria del Carmen Alva, a center-right politician. The vote took place after a long session lasting for several hours. After an initial round in which none of the initial four candidates achieved a simple majority, the vote was held. This resulted in a surprise for Alva who had been considered to be the frontrunner. Peruvians are expected to vote on April 12, with a runoff in June. Balcazar will continue to serve as president until the 28th of July, when the newly elected president will take office. BALCAZAR MUST OVERSEE CREDIBLE EXAMS NOW Peru is the third largest copper producer in the world. Its heavily mining-dependent economy has shown resilience against political shocks. Balcazar is still faced with a tight and high-stakes mission to stabilize the markets, preserve public order, and oversee credible elections. Nicolas Watson, managing director of Teneo consultancy, said: "It's hard to believe Jeri’s replacement would not last until July. Yet another change of President over the next five-month period would mark a nadir for Peruvian Politics." Investors and civil society will be closely watching the new caretaker administration. Gino Costa, a former Congressman and Interior Minister under President Alejandro Toledo, said that the latest drama was unlikely to have an adverse impact on the markets. Costa stated that "nothing has changed and nothing will change until July 28 when a new legislative term and government will begin as a result the elections of April 12," SUDDEN EXIT Jeri was elected president of Peru in October, after the unpopular Congress voted unanimously to remove Dina Boluarte. Right-wing parties that had supported Boluarte in the past withdrew support due to?corruption and public frustration about rising crime. Jeri’s tenure was quickly overshadowed. This included undisclosed meeting with Chinese businessman Zhihua Yahng, who owned retail stores and a concession for energy and was already being scrutinized by the state. After the video was released, the now-former President apologized and said that there had been no wrongdoing. Reporting by Lucinda Elliot, Cassandra Garrison, and Natalia Siniawski. Editing by Alistair Bell & Neil Fullick.
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Asia shares gain tech boost as Iran and rate uncertainty dominate markets
Asian stocks rose Thursday, supported by Wall Street gains, as lingering U.S. Iran tensions kept oil prices high and gold supported by safe-haven flows. The dollar strengthened after minutes of the Federal Reserve's last meeting revealed that policymakers weren't in a hurry to lower rates. Trading in Asia was thinned out due to the Lunar New Year holidays in China, Hong Kong and Taiwan. However, MSCI's broadest Asia-Pacific index outside Japan rose 0.5%, and Japan's Nikkei gained 0.885% led by technology stocks. The Kospi index in South Korea has risen by about 3%, reaching a new record high. This was followed by a rise in the shares of Wall Street's tech giants, after news that Nvidia had signed a multi-year agreement to sell millions of its artificial intelligence chips. We needed some good news. Tony Sycamore is a market analyst for IG. He said, "I think there's been a general sense of malaise within the tech sector." "Nvidia has been at the forefront of the rally that we've seen up until the end of 2025. And it could now be coming to?rescue? a little... some much needed good news can set tech stocks on a better run towards Nvidia earnings next week." Nasdaq Futures rose 0.05%, while S&P 500 futures gained 0.03%. EuroSTOXX futures fell 0.15%. Geopolitics continued to dominate the markets. After a surge in the previous session as investors priced in possible supply disruptions due to concerns about a conflict between Iran and the U.S., oil prices were stable. Brent crude futures fell slightly to $70.31 per barrel, after a 4.35% gain in the previous session. U.S. crude, which was last on $65.10, held onto most of its 4.6% Wednesday gain. "There has been an intensive buildup in military assets over the last 24 hours... But I think that this is part of this diplomatic game of cat and mouse and I do not think there will be an imminent attack." Sycamore said that she believes?this is designed to put even more pressure on Iran so they can come back from these talks with more reasonable goals. Gold continued to be bid on and remained steady at $4,963.99 per ounce. FED OUTLOOK The dollar remained stable?on Friday in response to better than expected U.S. data, and minutes from the Fed's policy meeting of January revealed that several policymakers are open to rate hikes as long as inflation remains high. The yen was at last?154.80, and the sterling fell to an all-time low against the dollar of $1.3488. Charlie Ripley is a senior investment strategist with Allianz Investment Management. He said, "From our perspective the minutes of the Federal Reserve confirm our belief that rate reductions are off the table in the near future." While some market participants look at inflation through the rearview mirror, the Fed continues to signal the safety warning that 'objects on the mirror are closer than it appears'. Policymakers noted that disinflation may be on a slow path. The euro was also pushed below $1.18, and it last traded at $1.1791. This was due to the news that Christine Lagarde, President of the European Central Bank (ECB), plans to quit her position early. The New Zealand dollar rose 0.11% to $0.5972 after falling 1.4% the previous session. This was due to the central bank of the country calming market expectations that it would make a pivot towards hawkish policy at its meeting.
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Oil prices drop as investors evaluate the trajectory of US-Iran tensions
Investors assessed the efforts of the U.S. Both the U.S. and Iran have increased military activity in the region that produces oil to help resolve tensions. Brent?futures dropped 12 cents or 0.2% to $70.23 per barrel at 0110 GMT. U.S. West Texas Intermediate crude (WTI), however, fell 8 cents or 0.1% and traded at $65.11 per barrel. The benchmarks for both markets settled higher than 4% on Wednesday. This was their highest settlement since January 30 as traders priced potential supply disruptions due to concerns about the U.S. Iran conflict. "Tensions remain high between Washington and Tehran, but it is widely believed that a full-scale conflict is unlikely. This has led to a wait-and see approach," said Hiroyuki Kikukawa. He is the chief strategist at Nissan Securities Investment. Kikukawa said that "U.S. president Donald Trump doesn't want to see a sharp rise in crude oil prices and, even if military actions are taken, they would be likely limited to short-term aerial strikes." The White House reported on Wednesday that although some progress was made in the Iran talks held in Geneva, there was still a distance on certain issues. Tehran is expected to provide more information in two weeks. According to the U.S. Federal Aviation Administration's website, Iran has issued a Notice to Airmen (NOTAM), stating that it will launch rockets in its southern areas on Thursday between 0330 GMT and 1330 GMT. The U.S. also deployed warships near Iran. U.S. Vice-President JD Vance said Washington was weighing up whether it should continue its diplomatic engagement with Tehran, or pursue "another alternative". Experts say satellite images show a concrete barrier covering a new facility on a'sensitive military site, and that it has been covered in soil. This is a sign of progress at an area which Israel will reportedly bomb in 2024. Two days of peace talks between Ukraine and Russia in Geneva ended without a breakthrough on Wednesday. Ukrainian President Volodymyr Zelenskiy accused Moscow of blocking U.S.mediated efforts to end a four-year war. Market sources reported that U.S. crude, gasoline, and distillate stocks?fell' last week. They cited figures from the American Petroleum Institute on Wednesday. This was contrary to expectations in a survey, which predicted that crude stockpiles would increase by 2.1m barrels during the week ending February 13. The Energy Information Administration is due to release its official U.S. petroleum inventory reports on Thursday. Reporting by Yuka Obaashi, Editing by Sonali Paul
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In coordinated attacks against Nigerian villages, suspected Lakurawa militants killed 34 people
A security report released on Thursday said that at least 34 people died?on the day of Tuesday's coordinated attack by suspected Lakurawa Islamist terrorists in Nigeria's northwestern Kebbi State. Lakurawa is a new insurgent organization that operates in the northwestern Nigerian states of Kebbi, and Sokoto, where in December, the United States carried out airstrikes against militants linked to Islamic State. The report stated that the new attacks were similar to previous Lakurawa raids on Kebbi where armed group?hit small villagers with simultaneous strikes in order to overwhelm local defences and force residents flee. Gunmen opened fire on villages in a remote border area, in what survivors describe as highly-organised, 'indiscriminate' attacks. According to the report, 16 people were killed in Mamunu; five in Awashaka; three in Masama, and two in each of five other villages. Residents fled as gunmen attacked their homes. The report stated that security forces had moved into the area in order to protect the communities, assist survivors, and cut off the militants' escape routes.
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Top US commander surprises Venezuela with surprise security talks
U.S. officials reported that General Francis Donovan and Joseph Humire, a senior Pentagon official, made a surprise visit to Venezuela for security discussions on Wednesday. This is the first trip by a U.S. Military delegation since U.S. Forces captured Venezuelan president Nicolas Maduro last month in an audacious operation and whisked to New York for drug-trafficking accusations. First reported by. The Venezuelan government reported that the U.S. delegation met with interim President Delcy Rodriquez, Defense Minister Vladimir Padrino and Interior Minister Diosdado Cabello. Both sides have agreed to collaborate to fight drug trafficking, terrorism, and migration. Padrino and?Cabello both face drug trafficking charges in the United States. The U.S. Military's visit comes after a trip to Caracas by U.S. Secretary for?Energy Chris Wright last week. The two trips together highlight President Donald Trump’s efforts to use his military might and energy policies to force Venezuela to implement sweeping?reforms. DIPLOMATHY IS THE PATH OF PREFERENCE Washington has stated that it will continue to manage Venezuela's business for oil indefinitely. It also maintains a strong naval presence in the Caribbean where the U.S. military is blowing up suspected drugs boats and working alongside the Coast Guard in order to seize Venezuelan-linked oil tanks. Venezuela's government has emphasized diplomacy in its preferred approach to Washington. Washington wants Caracas to cut off ties to U.S. enemies and to open up to U.S. business. Venezuela has the largest reserves of crude oil in the world. In a recent post on X, Venezuela's Minister of Communications Miguel Angel Perez stated that the meeting reaffirmed the importance of diplomacy as a means to resolve differences and address issues?of regional and bilateral interests. Laura Dogu was also present at the meeting, according to the U.S. Southern Command. She is the new U.S. ambassador in South America. Southern Command posted on X that "Discussions focused primarily on the security climate, steps to ensure 'the implementation of President Donald Trump’s three-phase Plan - especially the stabilization in Venezuela - and importance of shared security throughout the Western Hemisphere." In a separate posting by the U.S. Embassy, Dogu called it a "historic day" in the effort to "advance an objective of a Venezuela that is aligned with United States." For many years, high-ranking U.S. government officials rarely visited Caracas because the bilateral relationship between former President Hugo Chavez (and then Maduro) was strained. Donovan was on his first trip to Latin America since he became the Southern Command chief, a position he assumed in February. Prior to that, he led the U.S. Military's Special Operations around the globe as the No. Special Operations Command. Reporting by Phil Stewart, Idrees Al-Ali; editing by Edmund Klamann, Edwina Gibbs
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Lavrov warns Russia against any new US attack on Iran
In an interview published on Wednesday, Russian Foreign Minister Sergei Lavrov?said any new U.S. attack on Iran would have serious consequences. He called for restraint in order to find a solution that will allow Iran to pursue a peaceful nuclear programme. Lavrov's interview with Saudi Arabia's Al-Arabiya TV was broadcast a day after U.S. negotiators and Iranian negotiators met in Geneva for indirect talks to avert a new crisis between Washington, D.C. and Tehran. "The consequences of this are bad." Already, there have been attacks on Iran's nuclear sites under the control the International Atomic Energy Agency. Lavrov stated in an interview posted on the website of his ministry that "we can judge there were real risks" of a nuclear accident. "I carefully watch reactions in the area from Arab countries and Gulf monarchies. Nobody wants tensions to increase. "This is playing with fire." He said that a rise in tensions could reverse 'the positive steps taken over the past few years, such as improved relations between Iran, and neighboring countries, including Saudi Arabia. On Wednesday, a senior U.S. Official said that Iran would be expected to present a written proposal regarding how it will resolve its standoff against the United States following the Geneva talks. The official stated that U.S. national security advisers met at the White House Wednesday, and were informed by the administration that all U.S. forces in the region must be "in place" by mid-March. The United States has asked Iran to 'give up' its nuclear program, but Iran has refused and denied that it is developing an atomic bomb. Lavrov said that Arab countries sent signals to Washington, "clearly calling on'restraint' and the search for an accord that won't infringe Iran’s legal rights and... guaranteeing that Iran has a purely pacifist nuclear enrichment program". He said that Russia remained in regular, close contact with Iran's leadership "and we do not have any reason to doubt the sincerity of Iran to solve this problem by observing the Nuclear Non-Proliferation Treaty". Reporting by Christian Schmollinger; Editing by Christian Schmollinger
Minister: Chile will curb budget growth while Codelco accelerates recovery
The new Chilean finance minister said on Wednesday that the country will have a budget for 2026 with a "responsible increase" while the state-run Codelco tries to recover from production problems. Nicolas Grau, who was appointed by President Gabriel Boric in August, told reporters in his Santiago office that the budget for 2026, which is due to Congress, will have a "limited" increase in spending. Boric will announce the exact amount, but budget increases have been declining since 2023, when they grew by 4.2%. Grau stated that the average annual growth rate would be around 2% with this budget. He said that he would work with Congress to define a budget that is responsible, addresses the needs of the country and gives the next administration enough flexibility. Chile will hold a presidential vote in November, and Boric is not eligible to run again for reelection.
CODELCO’S RECOVERY OF COPPER Chile is the largest copper producer in the world, and its primary source of revenue. Codelco, the state-owned company, has struggled to increase production for many years. It cut its production target in August due to an accident that killed a worker at the mine's flagship El Teniente. Grau reaffirmed his confidence in Codelco’s strategy to close the production gap in previous years and highlighted initiatives such as its partnership with Anglo American for two adjacent deposits.
Grau stated that "Codelco is creating public-private partnerships to allow it maintain its leadership in copper."
SPEEDING UP PERMITTING WILL BOOST INVESTMENT According to Grau, he is confident that the economy will grow by 2.5% this coming year. This growth will be boosted by a 5% increase in investment for carbon-neutral initiatives such as clean energy and digital infrastructure. Grau has made reducing unemployment a priority for his final months in office. Jeannette Jara is the coalition candidate for the leftist government in the upcoming elections. "The latest data show that the unemployment rate is down a bit, but 8.7% still represents a high rate of unemployment. Grau stated that "we believe this rate must be reduced".
He said that policies such as pension reform and better permitting, a demand of large miners such as BHP and renewable companies like TotalEnergies, have led to greater economic growth. He acknowledged, however, that environmental permitting reform has made less progress than other categories. He said that although the executive branch made "significant" efforts to advance the reform, he could not predict if it would be approved under this administration. (Report by Fabian Andres Cambero, Editing by Alexander Villegas & Richard Chang)
(source: Reuters)