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Teenager shot dead in Brussels in latest bout of drug gang violence
The local prosecutor's said that a 19-year old man was killed in Brussels Saturday night. Drug gang violence is not showing signs of decreasing in the Belgian Capital. In recent years, Brussels has seen a spike in shootings that are linked to drug gangs. Officials have stated that Belgium is home to more than 100 of Europe’s most dangerous criminal organizations. On Sunday, the prosecutor's department confirmed that the shooting took place in the Brussels neighborhood of Anderlecht. The police were searching for suspects that fled in a vehicle. In a statement, the company said that "our initial inquiries have led us to believe the incident took place in the context of a score-settling within the milieu of drug trafficking." The murder of Saturday night followed another shooting death in Anderlecht earlier this month. A separate shooting incident that occurred in Brussels in early February led to the temporary closure of several metro stations in the capital. (Reporting and editing by Kirsten Doovan; Sudip Kar Gupta)
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British Minister: US views UK in a 'different light on trade'
A senior British cabinet member said that the United States sees trade relations with Britain in a "different light" since it doesn't have a huge deficit with Britain, but there are still difficult issues with tariffs. As part of the trade policy overhaul, Donald Trump has shocked global capitals since returning to power by threatening or imposing tariffs on goods imported into the U.S. Jonathan Reynolds, the UK's Business Secretary, told broadcasters that Britain has a balanced trade relationship with the U.S. He also reported on "good conversations and good engagement" during his meetings with Trump administration officials. They see us differently. This doesn't necessarily mean that everything will be smooth sailing. Reynolds stated, "We've got to agree on some things that are difficult but they understand the relationship is different." Last week, Reynolds stated that Britain would try to convince the U.S. Government to avoid tariffs on its steel and aluminum products due to their sensitive role in the U.S. Defence sector and manufacturing supply chains. Trump announced on Sunday that he will impose new tariffs of 25% on all imports of steel and aluminum into the U.S. on top existing metals duties. In February, Trump said that tariffs could be worked out with Britain. According to the Office for National Statistics in Britain, both countries report trade surpluses - goods and services included - due to measurement differences. Keir starmer, British Prime Minister Keir hopes that this will be to his benefit in order to avoid tariffs. Reynolds claimed that he discussed the trade relationship with Mark Burnett - Trump's special ambassador to Britain - and Kevin Hassett – the president's chief economic advisor. The announcement by Trump of new tariffs on imports of steel into the United States prompted Britain to publish a major consultation on its steel industry weeks before schedule. Trump said that his tariffs would level the playing fields for American products abroad and re-energize a declining U.S. Manufacturing base. These tariffs have caused confusion in the business community and angered U.S. ally countries.
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UK Steel Industry Consultations Accelerate in Response to US Tariffs
The British Steel Industry published an important consultation on Sunday. This was weeks ahead of schedule, due to the announcement by President Donald Trump of new tariffs on steel imports from the United States. In a press release, the Department for Business and Trade stated that the "Plan for Steel", will examine issues facing UK industry such as high energy prices and "unfair trade practices" by other countries. The Labour government had previously stated that it wanted to spend 2.5 billion pounds (3.15 billion dollars) on the steel industry. It would also publish a spring strategy for its plans to boost this sector. The UK steel industry will have a bright future under the current government. "We said it during the election and we're delivering now," Business and Trade Secretary Jonathan Reynolds said in a statement. Last week, Reynolds stated that Britain would try to convince the U.S. Government that their steel and aluminum products should not be subject to tariffs because of the important role that they play in U.S. manufacturing and defence supply chains. Trump announced on Sunday that he will impose new tariffs of 25% on all imports of steel and aluminum into the U.S. on top existing metal duties. In February, when discussing tariffs, he said that he believed something could be worked out with Britain. Reynolds told Sunday's broadcasters that he was building relationships with officials of the Trump administration who, he said, viewed Britain "in a different light" than other countries which have been targeted for tariffs. Britain and the United States exchange goods and services worth hundreds of billions dollars each year. UK Steel, an industry body, warned that tariffs would be "devastating", as the U.S. was the UK's second-largest export market worth more than 400 million pounds per year. $1 = 0.7946 lbs. (Reporting and editing by Alistair Bell, Clelia Oziel and Catarina demony)
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Mali mine collapse kills 40 people
A head of a union in the industry said that 43 people, mainly women, died after a gold mine collapsed on Saturday in western Mali. Taoule Camara of the National Union of Gold Counters and Refineries (UCROM) said that the accident occurred near the town Kenieba, in Mali's richly gold-rich Kayes Region. He said that the women were looking for gold in open pits left by industrial miner to find scraps when they fell into the earth. The spokesperson for the Mines Ministry confirmed that the accident occurred between Kenieba Dabia but refused to provide further details, as the ministry teams on the scene have not yet provided their report. In West Africa, artisanal mining has become increasingly profitable in recent years as a result of the growing demand for metals. As artisanal miners often use methods that are not regulated, accidents can be fatal. In late January 2013, 13 artisanal gold miners including three children and women were killed after the tunnel they were using to dig for gold was flooded.
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UK will publish green paper on steel industry ahead of schedule because of U.S. Tariffs, Observer reports
The Observer reported that Britain would publish a "green paper" for its steel industry on the Sunday following President Donald Trump’s announcement on new tariffs on steel imports to the U.S. The Observer reported that Jonathan Reynolds, the business minister, said, "The context at home and abroad is what drives the urgency we're demonstrating in bringing the publication of the Strategy forward." The department of business did not respond immediately to a comment request. The Labour government had previously stated that it wanted to spend 2.5 billion pounds (3.15 billion dollars) on the steel industry. It would also publish a spring strategy on how it planned to boost this sector. Reynolds said that Britain would try to convince the U.S. Government to avoid tariffs on its steel and aluminum products due to their sensitive role in the U.S. manufacturing sector and defence industry. The Observer reported that Reynolds will publish a "Plan for Steel" green paper on Sunday. The paper will examine issues that face the steel industry such as high energy prices and international turmoil. Trump announced on Sunday that he will impose new tariffs of 25% on all imports of steel and aluminum into the U.S. on top existing metals duties. In February, he said that tariffs could be worked out with Britain. Britain and the United States exchange goods and services worth hundreds of billions dollars each year. UK Steel, an industry body, warned that tariffs would be "devastating", as the U.S. was the UK's second-largest export market worth more than 400 million pounds per year. $1 = 0.7946 lbs. (Reporting and editing by Alistair Bell; Catarina demony)
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As M23 rebels arrive in the suburbs, there is looting and destruction in Bukavu, eastern Congo.
On Saturday, chaotic scenes unfolded as Rwanda-backed M23 M23 rebels reached the outskirts of Bukavu. Meanwhile, a threat from Uganda's army chief of attacking a Congolese city raised fears that the conflict could escalate into a regional war. Since they captured Goma at the end of the last month, rebels are pushing southwards towards Bukavu. This is the second largest city in eastern Democratic Republic of Congo. A spokesperson for the World Food Programme said that on Saturday, the depot of Bukavu which contained 6,800 metric tonnes of food was looted. The theft of supplies will only worsen the situation for those who are in need. Claude Kalinga stated that the agency has already been suspended from its activities due to the deteriorating safety situation. Bukavu residents reported hearing sporadic gunfire throughout the night and Saturday morning. They said that looters were responsible for the shootings. Corneille Nangaa is the leader of an alliance of rebels that includes M23. He said Friday evening that rebels have entered Bukavu, and will continue their operations in the city Saturday. Bagira, a suburb in northern Bukavu, was the scene of two residents claiming to have seen no fighting and only rebels. Nevertheless, an M23 source as well as two Congolese Army officers and several Bukavu residents said that on Saturday, the rebels hadn't yet entered the centre of the city. According to one of the officers, soldiers were evacuated from Goma in order not to have a "carnage". According to the United Nations, about 3,000 people died in the days leading up to the capture of Goma. According to eyewitnesses, Congolese soldiers were seen in the streets of Bukavu Saturday. Five residents and a source from the military claim that soldiers in their army base set a fire to an arsenal. Bukavu is a city with a population of 2 million, according to its mayor. It would be an unprecedented expansion in territory that the M23 has controlled since the last insurgency began in 2022. This would also deal a blow to Kinshasa in the eastern borderlands of Congo, which are rich with minerals. In a Saturday post on X, Uganda's chief of defence forces General Muhoozi Kaineruaba said that he was going to attack Bunia, a town in eastern Congo, unless the "all forces" surrendered within 24 hours. Kainerugaba's threat, whose father, President Yoweri Museeveni, is a source of concern, has added to the fear that Africa's Great Lakes Region could slip back into a wider war, similar to conflicts that occurred in the 1990s or 2000s, which killed millions. Since 2021, Ugandan soldiers have supported the Congolese military in their fight against islamist militants to the east. In late January and early Febraury, another 1,000 troops were deployed there. U.N. experts claim that Uganda also supported the M23, which is led by ethnic Tutsis. In a Saturday speech to the African Union Summit in Addis Ababa, U.N. Secretary General Antonio Guterres urged a dialogue between warring parties. Last weekend, leaders from the regional blocs of Eastern and Southern Africa also urged that all parties hold direct talks. However, the Congolese president Felix Tshisekedi refused to speak directly with the M23, and cancelled his attendance at the AU Summit, sending his Prime Minister to represent Congo. Tshisekedi, who attended the Munich Security Conference on Friday, returned to Kinshasa Saturday morning, the presidency reports. Kigali denied supporting M23. On Saturday, President Paul Kagame posted on Facebook that he told the AU peace and Security Council "Rwanda had nothing to do with Congo’s problems." The United States warned that possible sanctions could be imposed against officials in Rwanda and Congo. The European Union announced on Saturday that it was considering all means available to protect Congo. Reporting by Dawit Endshaw in Addis Ababa and Nairobi, Sonia Rolley and Sudip K-Gupta from Paris, and Portia Crowe and Ammu Kanampilly in Brussels. Editing and writing by David Evans, William Mallard and Kirby Donovan.
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Canadian Oil and Gas Firm Intensifies Ops at Gas Field Off Türkiye
Trillion Energy has started with the preparations to stimulate two wells at SASB gas field in an effort to enhance production at the project in the Southwestern Black Sea, offshore Türkiye.During January 2025, Trillion Energy completed installation of new velocity string tubing in two wells located on tripods (Alapli-2 and Bayhanli-2) in an operation that took approximately two weeks’ time.Previously, the company completed installation of new tubing in four wells on the Akcakoca platform during the fall of 2024. A total of six wells have now received the new smaller tubing size to mitigate water loading conditions.The tripod wells continue to receive nitrogen injections to stimulate production, however, operations have been delayed over the past few weeks due to stormy winter weather conditions.Both Alapli-2 and Bayhanli-2 initially responded positively to the ongoing operational efforts, however, stable long-term flow rates have yet to be sustained.The company is currently preparing to stimulate the Akcakoca-3 and South Akcakoca-2 wells in the upcoming week using nitrogen, upon suitable weather conditions arriving.Trillion Energy has sourced a gas lift compressor system for the Akcakoca platform which will provide continuous gas lifting injection to certain wells to assist in production.Additionally, the company plans to enhance production by installing a Progressive Cavity Pump (PCP) in a well, and two slim-hole Electric Submersible Pumps (ESPs) attached to the new tubing in two wells.These strategic interventions involving artificial lift are critical to sustaining long-term production rates and optimizing well performance and are expected to occur in the upcoming months, according to Trillion Energy.The company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field.SASB is a conventional gas field located in the Southwestern Black Sea, consisting of numerous conventional natural gas pools located in shallow water.The fields have produced over 43+ BCF since initial development in 2007. Trillion Energy is redeveloping the field with a planned program involving around 17 wells, which started in 2022. Phase B outlines the target to have six producing wells in the first quarter of 2025, including give development wells and one stratigraphic well.
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Brazil's Raizen suffers a loss in the third quarter
Brazilian sugarcane processing company Raizen posted a net loss of 2.57 billion reals ($450.5million) in the third quarter 2024/25, compared to a profit 793 million reais a year ago. Why it's important Raizen is the largest sugarcane processing company in the world. Its main shareholders include Brazilian conglomerate Cosan, and Shell. The company produces sugar and ethanol while also acting as a distributor of fuel. ADDITIONAL CONTEXT Raizen releases its quarterly report Operational Preview In January, the sugarcane crushing dropped by nearly 27% compared to last year. The company also stopped its financial guidance for 2024/25. Driving its Shares to all-time lows. By the Numbers The adjusted earnings before interest taxes, depreciation, and amortization (EBITDA), which is a measure of profit, came in at 3,12 billion reais for the third quarter. This was down by 20.5% on an annual basis and lower than the 3.42 billion reais that analysts had estimated in a LSEG survey. Analysts expected a real revenue of 62.3 billion reais. KEY QUOTES Raizen's net profit "reflects a lower contribution from its operational results and an increase in financial expenses, including nonrecurring effects."
Iron ore heads for second weekly fall on failing China need
Iron ore futures slipped on Friday and were poised for a 2nd straight weekly decline, weighed down by faltering need in leading consumer China, although preholiday restocking and rising bets of additional stimulus limited the losses.
The most-traded May iron ore agreement on China's Dalian Product Exchange (DCE) was down 1.79% at 766 yuan ($ 104.95) a metric load, as of 0238 GMT.
The benchmark January iron ore on the Singapore Exchange fell 1.17% to $99.6 a load by 0230 GMT.
Both standards have actually fallen 1% up until now this week after a more than 3% decrease in the previous week. Restored wish for more China stimulus had assisted the market increase earlier today.
Typical day-to-day hot metal output of Chinese steelmakers surveyed moved 0.7% week-on-week to 2.28 million loads in the week to Dec. 26, hitting the most affordable level considering that late September and declining for a 6th straight week, information from consultancy Mysteel revealed.
Upkeeps on blast heating systems and change to production plans at steel mills are underway, so there is not a surprise to see a relentless fall in hot metal output, experts in the beginning Futures stated in a note.
The pre-holiday replenishment of feedstocks may near its end ... in the absence of more powerful stimulus, there is little inspiration (for some financiers) to build long positions.
The Chinese New Year begins with Jan. 28 and domestic steelmakers usually build up stocks ahead of that to satisfy production needs during and after the holidays.
Other steelmaking components on the DCE lost ground, with coking coal and coke down 1.26% and 2.15%,. respectively.
Steel standards on the Shanghai Futures Exchange were hit. by decreasing need. Rebar lost 0.88%, hot-rolled. coil shed 0.61%, wire rod fell 0.56% and. stainless-steel dipped 0.23%.
Earnings among steelmakers moved by 83.7% to 7.86 billion yuan. in the first 11 months of the year, information from the National. Bureau of Statistics showed.
(source: Reuters)