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Data shows that Burkina Faso and Mali troops kill more civilians compared to jihadists
Human Rights Watch published a report on Thursday that reveals the government and its allies have killed twice as many civilians in Burkina Faso since 2023 than jihadist militants. This pattern is consistent with the data provided by Armed Conflict Location & Event Data, a conflict monitoring organization. It also applies to Mali. ACLED data shows that in that country, like Burkina Faso, a military-led regime has been ruling since a coup. According to ACLED, the government and its partners are responsible for a three to four time increase of civilian deaths compared to jihadists during the past two years. Since 2021, violence involving jihadists in Burkina Faso and Mali has increased, making the Sahel a global hotspot for terrorism. Analysts said that the deaths of many civilians by government forces would bolster militant groups' political legitimacy and encourage recruitment. Analysts said that they could complicate efforts by the United States in order to improve relations with Sahel government, who expelled French forces and other Western troops after their respective coups. Ilaria Allegrozzi is a senior Sahel researcher for Human Rights Watch. She said that the Burkinabe security forces and allied armed militias "appears to be more violent and brutal" than militant groups such as Jama'at Nusrat al-Islam wal-Muslimin, a local al Qaeda affiliate. She said that the Burkinabe forces behave in a way that is consistent with regional patterns, which raises concerns about military discipline and its effects on counterinsurgency. The Mali and Burkina Faso government spokespeople did not respond immediately to requests for comments. HRW's requests for comment to the Burkina Faso Government and JNIM’s Sharia committee in Burkina Faso were not responded to. Mali and Burkina Faso denied extrajudicial killings in the past, claiming that their forces killed "terrorists". "THEY EXTERMINATED EVERYTHING" The HRW report covers the period from January 2023 to August 2025 and documents 57 incidents where at least 1,837 civilians were killed. The report details 33 incidents in which government forces and allies were responsible for the deaths of 1,255 civilians. ACLED data indicates that between 2025 and 2025, the Burkinabe army and the pro-government Homeland Defence Volunteers militia, as well as JNIM, and Islamic State Sahel Province, another militant group, each killed 523 civilians. According to ACLED, in Mali the military and Russian paramilitary groups Wagner, Africa Corps and ISSP, along with the Russian military, killed 918 civilians between 2025 and 2025. JNIM, ISSP and JNIM killed 232 civilians. JNIM was not available for a comment. The Russian defence ministry that runs Wagner and Africa Corps did not respond immediately to a comment request. ACLED gathers its data through social media, reports in the press, and statements by governments, armed forces, and non-governmental organizations. The report claims to provide conservative estimates for fatalities. HRW's report was based on 450 interviews, verified social media images and satellite imagery. The report also states that the incidents documented by HRW are not all-inclusive. Allegrozzi stated that because JNIM controls vast swathes, security forces may be called upon to escort convoys, including humanitarian and supply convoys, in rural areas. However, they often kill civilians along the way. A resident of eastern Burkina Faso who requested anonymity for fear of reprisals said he was traveling in a convoy of civilians under military escort during July 2024. Many of the villages that they passed were abandoned. They then reached Sakoani village, located 30 km (19 miles) from the town of Kantchari. He said: "When the soldiers arrived and saw that the village was populated, the encircled the whole village and exterminated every living thing." "People fled, but they shot at them if you ran." He estimated that he had seen at least 100 dead bodies. ACLED: Increasing use of drones in Mali. According to ACLED, drone strikes have resulted in many civilian deaths. Since the government started purchasing Turkish drones in 2022, there has been a surge in drone warfare. The ACLED data show that Mali's military increased the number of drone or airstrikes against civilians from four in 2012 to 66 in 2025. This resulted in 155 fatalities. ACLED reports that in July 2024 government drone attacks killed at least fifty civilians at Inatiyara?artisanal gold mine site in northern Mali. Three eyewitnesses have described the attacks. "We were shocked by the strikes. We were so afraid," said a Niger gold panner of 30 years old who worked at Inatiyara. He asked to remain anonymous. It was pure panic... "I'm still reeling from the shock." HRW and ACLED documented grave abuses by JNIM. These included the murder of at least 19 civilians, as well as 133 civilians, in Diallassagou in Mali in May 2024. Analysts have said that the group was able to portray itself as a protector of marginalised groups like the Fulani - a pastoralist group widely dispersed whose members often are accused of being associated with JNIM. Heni Nsaibia is ACLED's senior analyst in West Africa. She said: "As states increasingly rely upon retaliation, collective punishment and coercion, more civilians are trapped in areas controlled by jihadists, where JNIM consolidates its influence through strategic engagement and coercion of local populations." (Reporting and editing by Robbie Corey Boulet and Daniel Wallis; Portia Crowe)
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Iron ore falls to a three-week low due to shrinking steel margins and slow demand
Iron ore prices fell to their lowest level in three weeks on Thursday due to a combination of shrinking steel margins and a faltering market following the completion of pre-holiday stocking in China, the top consumer. Iron ore, the most traded commodity on China's Dalian Commodity Exchange(DCE), fell 1.29% in price to 805 Yuan ($116.88), after hitting its lowest level since March 12 (793.5 yuan) earlier in the session. As of 0703 GMT, the benchmark May iron ore traded on Singapore Exchange was down?0.71% at $105.55 per ton. It had hit its lowest price since March 16 when it was $104.50. The mood on global metal markets soured when U.S. president Donald?Trump did not provide clarity about the end date of the Middle East conflict. Oil prices have risen above $100 again, reigniting fears of inflation, rate hikes, and a possible recession. Analyst Xinli Cho of broker China Futures said that some domestic steelmakers in China have finished restocking feedstock for the Qingming Festival over the April 4-6 period, and the resulting decrease in'spot liquidity' is pressuring the prices. A Singapore-based trader, who spoke on condition of anonymity because he was not authorised to address the media, also said that the need to rebalance capital at the beginning of the month could lead to a'saleoff' of ore. Coke and coking coal, the other ingredients used in steelmaking, both declined by 0.4% and 0.35 percent, respectively. The Shanghai Futures Exchange steel benchmarks have mostly continued to decline. Rebar fell 0.67%. Hot-rolled coils slipped 0.55%. Stainless steel lost 0.81%. Meanwhile, wire rod rose 1.9%.
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Fuel prices increase as Swiss inflation reaches an all-time high
Swiss inflation reached its highest level since a year, according to government data released on Thursday. However, the increase was less than expected as the country had to absorb higher fuel costs due to the conflict in the Middle East. Last month, consumer prices increased by 0.3% compared to March 2025. This is the highest rate for 12 months. The 0.5% forecast in a recent poll by economists was still below the actual 0.5%. The Swiss price index increased 0.2% from month to month, which is also lower than the expected 0.5%. Prices for petroleum products were 5.3% higher than a year ago. The Federal Statistical Office (FSO), which compiles these data, also reported that air travel and package holidays prices have increased. The Swiss National Bank, which targets an 'inflation of between 0 and 2 percent, refused to comment. Analysts say that Swiss inflation is well below the expected 2.5% rate for the Eurozone, which means that the SNB will not immediately raise interest rates in order to combat price increases. The markets currently predict that the central bank will raise borrowing costs to 1% from 0% in its next meeting, scheduled for June. Alessandro Bee, economist at UBS, said: "The increase in 'inflation' is modest and won't make the SNB think about a possible?rate rise. GianLuigiMandruzzato, economist at EFG Bank said the moderate increase showed Switzerland was relatively "isolated" from the energy shock. He said that the SNB would be alert to any signs of "second-round" effects. However, for the moment there was little need to react due to the uncertainty of how the crisis would unfold. (Reporting and editing by FriederikeHeine and Tomaszjanowski, with John Revill)
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Swiss inflation rises to highest rate since last year due to fuel price increases
Swiss inflation reached its highest level since a year in March, according to government data released 'on Thursday. The?country was able to absorb higher fuel costs due the conflict in the Middle East. The consumer price index rose 0.3% in March compared to March 2025. This is the highest rate since March 2025 but lower than the 0.5% expected by economists. The reading for March 2026 was a rise from the 0.1% increase in Swiss prices during February. This was primarily due to higher prices of petroleum products which were 5.3% cheaper than a year ago. The Federal Statistical Office (FSO), which compiles these data, also reported that the prices of air travel and package holidays increased. The Swiss National Bank refused to comment on these data. The SNB is unlikely to raise interest rates to combat price increases, as Swiss inflation is well below the expected rate of?2.5% in the Eurozone. The markets currently predict that the central bank will increase borrowing costs from the current 0% to 21% at its next June meeting. (Reporting and Editing by Friederike H. Heine).
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SSE, UK's largest power company, raises its earnings forecast due to a boost in renewable energy output
British utility SSE raised its earnings forecast for the year by announcing a 'lifting of 'the lower end if its range. As energy and fuel costs rise due to the conflict in the Middle East and global renewable power production and demand increases, the UK government is weighing measures to protect households from increased costs. SSE's renewable division will see output rise by 10%, to?14.5 Terawatt Hours, in fiscal year 2025/26. This is due to increased capacity in its?construction program, whereas its regulated network businesses are expected to deliver a capital investment increase of?60% year-on year. In November, the electricity provider announced a five-year investment program worth 33 billion pounds ($43.59billion) to increase its renewables portfolio. This plan highlighted the need to upgrade Britain's aging grid in light of the growing demand for power from the electric vehicle sector and the artificial intelligence sector. SSE expects to earn between 147 and 152p per share for the fiscal year ending March 31st, with capital investment of around 3.5billion pounds. The company previously predicted 'adjusted earning per share' to be between 144 and 152 pence. SSE continues to monitor the developments in 'the Middle East' but says it has not seen any immediate impact on its performance due to its resilient business mix.
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French and Benelux stocks: Factors to watch on April 2
Here are some company news and stories that could have an impact on markets in France and Benelux or individual stocks. RENAULT Jean-Dominique Senard, Chairman of the French automaker Renault Group, will not seek to continue his term in spring 2027. This was confirmed by a source familiar with the matter on Wednesday. AIRBUS SE Airbus, the aerospace manufacturer, has announced a new subsidiary that combines Skywise digital and Navblue into a single entity. KERING SA Kering, the owner of Gucci, announced on Wednesday that it had struck a deal with Qatar's Al-Mirqab Group in which they would?sell? an 80% stake in their property in Milan on Via Monte Napoleone for a price of?1.16bn euros ($1.34bn). BUREAU VERITAS: Bureau Veritas, a testing and certification company, has launched a AI assessment service for European enterprises, in partnership with Amazon Web Services, to assess compliance with AI Act. The offering will be available in the second quarter of this year in France, Britain and Spain, Italy, and the Netherlands, as well as in Nordic countries. ARGAN?SA Argan, a real estate company, reported rental income for the first quarter of 54.4 millions euros, an increase of 3%. It also confirmed that its target rental income in 2026 is at least 220million euros. PERNOD RICHARD SA Pernod Ricard, a wine and spirits company, has completed the sale Mumm Napa and announced the purchase of Kenwood. This is part of the ongoing streamlining of the wine operations of the company in California. ACCOR SA Hotel group Accor has signed a Memorandum of Understanding to sell its 30.56 % stake in Essendi for?upto?975 millions euros to a consortium consisting of Blackstone and Colony IM. The transaction is expected to take place in the third quarter. APERAM SA Aperam, a stainless steel manufacturer, strengthens its position as a supplier of alloys with the acquisition by Magnetec Group. 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..... ($1 = 0.8672 euros)
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China's aluminum exports are set to increase as the Iran war affects global supply
The Iranian war has tightened global supply, boosting margins and some forecasts of flat shipments have been revised higher. Before the war, the Gulf supplied roughly 9% of all global supplies. However, the Strait of Hormuz has closed most of this supply. Iran's recent attack on two of the largest aluminium smelters in the region has increased the risk of a shortage even if waterway is reopened. It's going to be difficult for damaged aluminium production lines to recover quickly, which will lead to some orders flowing to China. Kiki Xi is an analyst with Aize China and said that she was optimistic about the exports for this year. The war is responsible for a spike in the price of aluminium on the London Metal Exchange. The prices are up by 12% since the end of February, compared to a rise in Shanghai Futures Exchange of only 4%. The Japanese aluminium premium in the second quarter reached an 11-year-high, and the European aluminium duty-paid premium for delivery in April also hit a four-year-high. INTERESSES JUMP, FORECASTS CHANGED Analysts and traders said that inquiries from abroad have risen for China's aluminium exporters, the largest in the world. Profits are already on the rise. According to two Chinese traders who spoke under condition of anonymity, the export profit for aluminium sheets, which are used in everything from food cans and aerospace to aircraft, increased by?43% on a monthly basis to $590 per ton as recently as March 26. Fastmarkets projects a volume increase of 12%-18% for Chinese aluminum exports, compared to the previous outlook that was flat or slightly negative. Broker Wuchan Zhongda?Futures raised its forecast for aluminum exports from 5% to 10%. Aladdiny, the consultancy, now forecasts that exports of aluminium products fabricated will increase by 5%-10% between?2026 and its previous forecast of flat growth prior to World War II. DEMAND WEAKEN AT HOME The industry will benefit from higher prices abroad, as the domestic demand has been low, especially in the real estate sector. Beijing's removal of the export tax rebate by the end of 2024 also has hurt. Inventory in Shanghai is free to export due to a lack of domestic demand On March 27, it reached its highest level since April 2020, at 454,571 tonnes. LME and U.S. Comex aluminum stocks are comparable. Have sharply contracted.
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MORNING BID EUROPE-Prime-time disappointment
Ankur Banerjee gives a look at what the day will bring for the European and Global markets. In a 19-minute prime-time speech, U.S. president Donald 'Trump' squashed the hopes of investors that the Middle East 'war would be over soon. He said Washington would hit Iran extremely hard over the next two to three week. Investors quickly returned to their March actions: selling stocks, buying U.S. dollar and driving oil prices higher. Trump called on countries that depend on Gulf oil to take the lead and assume the burden of opening the waterway that Iran has choked on, which some market observers have described as the worst global energy crisis in history. After a brutal month in which soaring oil costs sent risk assets into a tailspin, the prospect of an ending to the war has lifted global shares and knocked down the dollar's recent highs. After the speech, traders quickly reversed their positions. They were bracing themselves for a prolonged shock in energy prices that could lead to stagflation. Brent crude futures have risen above $100 per barrel once again, while U.S. stocks futures and European futures both point to a sour opening with both falling more than 1%. In Asia, which has been hit the hardest by the oil crisis, as the majority of economies in this region heavily depend on energy from the Middle East. Almost all Asian bourses have fallen sharply. U.S. Treasuries also fell. Investors can de-risk a lot, as most Western markets will be closed tomorrow for Good Friday. They don't want to get caught by weekend volatility. The following are key developments that may influence the markets on Thursday. * U.S. jobless data Weekly EIA estimate of U.S. Natural Gas in Underground Storage
Business invest in EV battery factories in Europe
Europe is looking for to draw in electric lorry (EV) battery makers to build factories in the area home to carmakers such as Volkswagen and Stellantis as it tries to cut reliance on Asia and win a green aids race with the United States.
Below is an introduction, including by nation listing those operating and those prepared:
PREPARED FACTORIES IN EUROPE
* Automotive Cells Company (ACC) - a JV of Stellantis, Mercedes Benz and TotalEnergies - protected
funding
worth 4.4 billion euros ($ 4.76 billion) in February as it
plans
to spend over 7 billion euros on 3 gigafactories in Europe with a capacity of 40 GWh each by 2030.
* Stellantis intends to build a
plant
to produce lithium iron phosphate (LFP) batteries in Europe as part of a planned joint venture with Chinese EV battery giant CATL. CEO Carlos Tavares said in January the group was in talks with the Spanish federal government to secure subsidies to build a gigafactory in the nation.
BY COUNTRY
BELGIUM
PLANNED
* SENEFFE-MANAGE: Avesta Battery and Energy Engineering anticipates its 40-million-euro plant to be fully functional before 2030, with capacity of 3 GWh.
BRITAIN
PLANNED
* COVENTRY: The West Midlands Gigafactory JV stated in October it was in innovative talks with a number of Asian battery makers about financial investment at the website, following Coventry's approval for a. potential plant. The pitch includes 60 GWh output with. production start in 2025.
* SOMERSET: India's Tata Group will construct a. 4-billion-pound ($ 5 billion) gigafactory to provide its Jaguar. Land Rover factories. The plant will have preliminary output of 40. GWh, with production starting in 2026.
* SUNDERLAND: China's Envision is developing a factory near. Nissan's plant, with production to start in 2025 and. capability of 12 GWh.
* N/A: Nanotech Energy is investigating seven websites in the. UK as a last location for a prepared 1-billion-pound factory.
CZECHIA
OPERATING
* HORNÌ SUCHÀ: MES targets output of 15 GWh at a plant worth. 1.4 billion Czech crowns ($ 63 million), opened in September 2020. with preliminary capacity of 200 MWh.
FINLAND
PLANNED
* KOTKA: Finnish Minerals Group has actually signed a MoU with a. potential partner for a cell production plant. Environmental. effect assessment for the center, based upon options with 27 GWh. and 40 GWh output, will be completed by summertime 2024.
* N/A: China's Svolt short-listed Finland among other. countries as the prospective area for a battery cell factory. with capability of about 50 GWh.
FRANCE
OPERATING
* DOUVRIN: The ACC Douvrin plant was inaugurated on May 30,. 2023, with operations starting in the 2nd half of the year.
* QUIMPER: Blue Solutions' factory in Ergue-Gaberic was. inaugurated in 2013. The business states on its website its two. factories in France and Canada have combined capacity of 1.5. GWh. It was not clear just how much of this remained in France.
PLANNED
* HAUTS-DE-FRANCE: Stellantis-backed Tiamat Energy plans to. raise 150 million euros to develop a 5 GWh gigafactory for. sodium-ion battery cells by 2029.
* DOUAI: Envision is investing up to 2 billion euros in an. AESC gigafactory near the Renault ElectriCity EV center. The. plant will have capacity of 9 GWh in 2024 and targets 24 GWh by. 2030.
* DUNKIRK: Taiwan's ProLogium is working to protect. federal government subsidies for a 5.2-billion-euro factory. Production. is slated to begin in 2026, with intended capability of 48 GWh.
* DUNKIRK: French start-up Verkor is developing a factory in. Dunkirk with targeted capability of 12 GWh. Renault will. be its most significant client.
GERMANY
OPERATING
* GRUENHEIDE: Tesla is looking for approval from the. German government to double the capacity of its 5-billion-euro. battery plant near Berlin from its present 50 GWh.
* DOBELN: Introduced by Swiss Blackstone Resources at. completion of 2021, the plant targets as much as 5 GWh capacity by 2024.
* ERFURT: China's CATL is ramping up capability of its plant. from 8 GWh to 14 GWh.
* LUDWIGSFELDE: Microvast's plant has capacity of. 1.5 GWh and targets approximately 6 GWh.
PLANNED
* HEIDE: Northvolt on March 25 began building of its. plant after 902 million euros in German government subsidies. were authorized by the European Commission in January. It prepares to. invest 3-5 billion euros in the plant.
* KAISERSLAUTERN: One of ACC's three gigafactories is. expected to begin operations in 2025.
* LAUCHHAMMER, UBERHERRN: Svolt will invest up to 2 billion. euros in 2 plants. The first one in Uberherrn starts. production at the end of 2023, with intended capability of 24 GWh. The second one in Lauchhammer will be functional in 2025, with. target capacity of 16 GWh.
* SALZGITTER: Volkswagen prepares to construct six. plants in Europe amounting to 240 GWh by 2030. Production at the. first plant will start in 2025 with aimed capability of 40 GWh.
* TUBINGEN: Cellforce plans to launch a 100 MWh plant in. 2024.
HUNGARY
OPERATING
* GOED: Samsung's 1.2-billion-euro factory with 30 GWh. capacity started production in 2018.
PLANNED
* DEBRECEN: CATL is constructing a 7.3-billion-euro plant. targeting capability of 100 GWh. It began construction in 2022. and aims to start production in 2-3 years.
* DEBRECEN: China's EVE Power will invest 1 billion euros to. build a 28 GWh plant, Hungary's foreign minister stated in May.
ITALY
PLANNED
* SCARMAGNO, ROMANO CANAVESE: Italvolt expects the. 3.5-billion-euro plant to be operational by 2024, with intended. capability of 45 GWh.
* TEREVOLA: FAAM anticipates its 570-million-euro plant to be. functional by 2024, with targeted capacity of 8 GWh.
* TERMOLI: ACC will spend over 2 billion euros to build a. gigafactory, set to open in 2026 and to reach full capability in. 2030.
LATVIA
PLANNED
* RIGA: Anodox had stated its 50-million-euro plant ought to be. operational by 2022. was unable to verify its status.
NORWAY
PLANNED
* MO I RANA: FREYR anticipates its $1.7-billion plant to be. completely operational by 2028, with aimed capacity of 83 GWh.
* ARENDAL: Morrow anticipates the very first growth of its. 470-million-euro plant to be operational by the first half of. 2024, with intended capacity of 32 GWh.
* HAUGALAND: Beyonder's plant will be completely operational by. 2024, with intended capacity of 10 GWh.
* TRONDHEIM: Elinor invested 10 billion Norwegian crowns. ($ 935 million) in a plant set to begin operations by 2026 and. with capability of about 40 GWh by 2030.
POLAND
RUNNING
* WROCLAW: LG Energy Option's plant started. production in 2017 with capability of 100,000 batteries and a. target of 115 GWh by 2025.
PORTUGAL
PLANNED
* SINES: China's CALB anticipates its factory to begin operating. by end-2025 at 15 GWh and rising to 45 GWh in 2028.
SERBIA
RUNNING
* SUBOTICA: ElevenES opened its LFP battery cell. facility in April aiming for output of 48 GWh by 2027. The. planned financial investment is 1 billion euros.
PLANNED
* CUPRIJA: InoBat prepares to construct a gigafactory with. government funding of 419 million euros. It will be operational. by 2025, with an initial capacity of 4 GWh and a target of 32. GWh.
SLOVAKIA
PLANNED
* SURANY: Slovak start-up Inobat and China's Gotion High Tech. will develop an EV battery factory in Europe by 2026. with preliminary output of 20 GWh.
SPAIN
PLANNED
* BASQUE NATION: BASQUEVOLT prepares to invest over 700. million euros for a plant targeting capability of 10 GWh by 2027.
* NAVALMORAL DE LA MATA: Spain signed a deal with Envision. to construct a 2.5-billion-euro plant with capability of 30 GWh.
* SAGUNTO: Volkswagen and partners said in 2022 they would. invest 10 billion euros in a 40 GWh plant, with production start. by 2026.
* VALLADOLID: InoBat signed a statement of intent with the. Spanish government to establish a 32 GWh factory worth 3 billion. euros.
SWEDEN
OPERATING
* SKELLEFTEA: Northvolt's factory started production in 2021. and targets 40 GWh by 2025.
PLANNED
* BORLANGE: Northvolt's plant is arranged to begin. production in 2025 and be completely functional by 2030, targeting. 150 GWh.
* GOTHENBURG: Northvolt invested 30 billion Swedish crowns ($ 3. billion) in a plant set to begin production by 2025, with intended. capability of 50 GWh.
SWITZERLAND
PLANNED
* FRAUENFELD: SCB anticipates the plant worth 775 million Swiss. francs ($ 880 million) to be totally operational before 2030, with. target of 7.6 GWh.
(source: Reuters)