Latest News
-
Kashmir's saffron growers explore indoor farming as climate pressures install
Tucked in a valley below the snowcapped Himalayas of the Indian Kashmir area is the town of Pampore, famous for its farms that grow the world's most expensive spice the redhued saffron. This is where the majority of saffron is farmed in India, the world's second-largest producer behind Iran of the spice, which expenses up to 325,000 rupees ($ 3,800) a kg (2.2 pounds) since it is so labour-intensive to harvest. Come October, the crocus plants begin to bloom, covering the fields with intense purple flowers from which strands of fragrant red saffron are chosen by hand, to be utilized in foods such as paella, and in scents and fabric dyes. I am happy to cultivate this crop, stated Nisar Ahmad Malik, as he collected flowers from his ancestral field. However, while Malik has actually stuck to traditional farming, citing the rich colour, fragrance and scent of his produce through the years, some agrarian professionals have been experimenting with indoor cultivation of the crop as global warming fears increase. About 90% of India's saffron is produced in Kashmir, of which a bulk is grown in Pampore, however the town is under hazard of quick urbanisation, according to the Indian Council of Scientific & & Industrial Research (CSIR). Experts say rising temperature levels and erratic rainfall posture a. danger to saffron production, which has actually dropped from 8 metric lots. in the fiscal year 2010-11 to 2.6 metric lots in 2023-24, the. federal government informed parliament in February, including that. efforts were being made to enhance production. One such programme is a project to help grow the plant. indoors in a regulated environment in tubes consisting of wetness. and crucial nutrients, which Dr. Bashir Ilahi at state-run. Sher-e-Kashmir University of Agricultural Sciences said has. revealed good outcomes. Growing saffron in a regulated environment shows. temperature resistance and significantly reduces the danger of. crop failure, stated Ilahi, standing in his laboratory in between. stacks of crates including tubes of the purple flower. Ilahi and other local experts have been helping farmers with. presentations on how to grow the crocus plant indoors. It is a fantastic development, stated Abdul Majeed, president. of Kashmir's Saffron Growers Association, some of whose members,. consisting of Majeed, have been cultivating the crop indoors for a. couple of years. Manzoor Ahmad Mir, a saffron grower, advised more state. support. The federal government should promote indoor saffron cultivation on. a much bigger scale as environment modification is impacting the whole. world, and Kashmir is no exception, Mir stated.
-
Germany has enough gas for winter, storage operators say
Germany has adequate gas in storage to cover demand over the existing 2024/25 winter season season, in spite of the end of Russian gas exports to central Europe on Jan. 1, storage operators' group INES said on Thursday. Regardless of the complete loss of gas transportation through Ukraine, a gas scarcity is no longer expected, INES said in a statement. It added the target for storage caverns to be a minimum of 30%. complete by Feb. 1 will be fulfilled. Must medium-to-warm temperature levels continue until the end of. March, the filling levels, which are presently at 71%, would. sink to 48% of total capacity, INES stated. In the case of extremely winter in the coming months,. nevertheless, the stocks might strike 24% by the end of winter in. March, INES said. Boosting underground storage was among Germany's main. reactions to being primarily cut off from Russian pipeline gas. because the war in Ukraine started in 2022. Since the start of this year, practically all other European. Union countries have actually also stopped receiving Russian gas. Germany has likewise increased its purchases of seaborne,. melted gas (LNG), and cut intake. The nation's storage facilities can hold 23 billion cubic. metres, equivalent to over a quarter of yearly national. intake last year. Wanting to the warmer summertime, the German storage. centers might be totally refilled for the 2025/26 season under. any situation, INES said, although it said financial rewards. must be increased to motivate companies to book storage. The 16 members of the lobby consist of the Astora company. within the SEFE group, VNG Gasspeicher, Uniper, and. RWE, and together represent around 25% of European. Union gas caverns.
-
German parties' energy policies in February national election
Citizens in Germany, Europe's most significant economy, go to the polls on Feb. 23 in what marks the very first elections because Berlin severed its ties with Russia, its decadeslong gas provider. Here is how significant celebrations outline their energy policies: CDU/CSU The conservative Christian Democrats (CDU), who keep up Bavarian sibling party CSU in the election, assure to cut power rates by 5 euro cents per kilowatt hour (kWh) or more, equivalent to roughly 12% of 2024 costs. The party proposes to cut power grid charges that contribute to clients' expenses, partially by raising carbon emissions permit rates, while offering personal capital rewards to buy power grids. Both celebrations likewise want reevaluate nuclear energy, which was deserted in 2022, and may withdraw a restriction on fossil car fuels from 2035. CDU leader Friedrich Merz has stated a fast shift to hydrogen would not achieve success. AFD The reactionary Alternative for Germany (AfD) has stated gas, oil heater, and tough coal power stations should be kept running. It wishes to continue domestic brown coal mining and reverse the withdrawal from atomic energy. It states the present judgment coalition's ideological plans for a change towards renewable resource depend upon state hand-outs, and will result in poverty, de-industrialisation and deepen import dependence. AfD wants to leave the Paris climate contract, cut energy taxes, and reboot the Nord Stream gas import pipelines from Russia under the Baltic Sea. The celebration's chancellor candidate Alice Weidel has actually stated she would take apart wind turbines to save money on grid costs that show renewables growth. SPD The Social Democrats (SPD) say they would continue to subsidise renewable energy, with a transformation fund reimbursing customers a lot of the costs collected from them through taxes and levies. The party wishes to loosen constitutional limits on public financial obligation, so-called financial obligation brake, to raise more money for energy aids and stays committed to a green change. It wishes to motivate purchases of German-made electrical cars and trucks with a temporary tax reduction. GREENS The Greens celebration wants to continue promoting eco-friendly energy. It is advanced in its planning for a capacity market style to enhance planned gas-to-power plants that must act as a backup to offset unpredictable wind and solar electricity. The celebration wants to promote electrical automobiles, heatpump, energy sharing and effectiveness, as well as to continue support for low-income customers. It looks to money its green policies with more state loaning.
-
Kenya turns to the UAE for railway funds after China cut financing
Kenya has actually begun conversations with the United Arab Emirates to secure funding to finish a regional railway, President William Ruto stated, after China cut facilities funding to the task. The railway connecting the Kenyan port of Mombasa with landlocked neighbours, as part of China's Belt and Road Effort, ended in the Rift Valley in 2019, 468 kilometres ( 290 miles) short of the border with Uganda, after Beijing withdrew support. We are checking out a partnership arrangement with the United Arab Emirates to extend the Requirement Gauge Railway to link Kenya, Uganda and South Sudan, Ruto stated on X late on Tuesday, after fulfilling UAE officials in Abu Dhabi. Both sides will perform a feasibility study on the extension of the train, he stated, due to its capability to foster regional integration and promote trade. Ruto's office did not respond to Reuters' request for more information. Ruto, who took over in September 2022, has actually pursued more detailed ties with the UAE, and Kenya is likewise finalising a $1.5 billion industrial loan from the UAE for budget plan support. The East African nation and the UAE signed a thorough financial partnership agreement on Tuesday, intending to boost trade volumes by eliminating barriers, streamlining custom-mades processes and promoting investments. Kenya is going to be an entrance for sure for East Africa, Thani Al Zeyoudi, the UAE's minister of trade, informed Reuters on Tuesday. Trade in between Kenya and the UAE has more than folded the last decade, Ruto's workplace stated. The UAE is the 6th greatest export market for Kenyan products, and its second most significant source of imports. The worth of the trade stood at 445 billion shillings ($ 3.44 billion) in 2023, with the UAE purchasing agricultural items, while Kenya gets petroleum items, equipment and chemicals. The UAE's Abu Dhabi National Oil Company (ADNOC) and Emirates National Oil Business were among three Gulf companies Ruto's. federal government selected in 2023 to supply Kenya with oil on longer. credit terms, in a shift from an open tender system.
-
EUROPE GAS-Prices inch up on colder weather report
Dutch and British wholesale gas costs were somewhat higher on Wednesday morning on expectations of lower temperature levels and less wind output. The benchmark front-month agreement at the Dutch TTF center inched up by 0.28 euro to 47.58 euros per megawatt hour (MWh) by 0923 GMT, according to LSEG data. The Dutch day-ahead agreement was 0.70 euro higher at 48.10 euros/MWh. In Britain, the day-ahead agreement was 0.95 cent greater at 121.25 cent per therm. European costs fell in the previous session in the middle of earnings taking and lower intake. Prices are a little bit greater as the weather condition is anticipated to turn (chillier), a gas trader said. Temperature level forecasts for north-west Europe are expected to peak today but then anticipated to be lower than previous forecasts at the weekend. Temperature levels are expected to fall back below typical levels from Jan 17-22, LSEG data showed. Wind generation also stays weak and is not anticipated to be back above typical levels until at least Jan. 24, said Wayne Bryan, head of European gas research at LSEG. On the supply side, melted gas (LNG) and Norwegian circulations are stable. Today, 10 European Union countries required the 27-nation bloc to ban imports of pipeline gas and LNG from Russia, a file seen showed, as Europe prepares its 16th plan of sanctions targeting Russia's economy. In the European carbon market, the standard contract was up 1.02 euro at 77.98 euros per metric heap.
-
IEA states new US sanctions could considerably interrupt Russian supply
The most recent round of U.S. sanctions versus Russian oil revealed last Friday might significantly interfere with the country's oil supply chains, the International Energy Agency stated in a monthly report on Wednesday. The IEA's oil market outlook, which recommends industrialised countries, still recommends that the international market will be in surplus this year due to provide growth surpassing suppressed growth in demand. New U.S. sanctions on Iran and Russia cover entities that dealt with over a 3rd of Russian and Iranian unrefined exports in 2024, the IEA stated. We preserve our supply forecasts for both countries till the full impact of sanctions becomes more evident, however the brand-new measures could lead to a tightening up of crude and product balances, it stated. Washington's most current sanctions bundle listed over 160 tankers, which walked around 22% of Russian seaborne oil exports in 2024 according to the IEA. Previous vessel designations had been highly efficient, lowering the activity of designated tankers by 90%, the company stated. The IEA stated that tighter sanctions, along with a cold weather condition breeze in the northern hemisphere, had propelled crude rates above $80 a barrel in early January. Nevertheless, the IEA said cost gains might be tempered by strong non-OPEC+ supply development, the OPEC+ union wanting to unwind cuts, and the ability to make use of stocks quickly if needed. The IEA now expects international oil supply development to reach 1.8 million barrels each day in 2025, with non-OPEC+ production representing the bulk at 1.5 million bpd. That is faster than its projection for oil demand development this year of 1.05 million bpd, after a slight downward modification from 1.1 million bpd in the previous month's report. Brent futures edged lower on Wednesday, trading at $79.71 a barrel at 0927 GMT, down 21 cents from previous close.
-
Wars leading worldwide threat as Davos elite collects in shadow of fragmented world
Equipped conflict is the top danger in 2025, a World Economic Forum (WEF) survey launched on Wednesday revealed, a pointer of the deepening global fragmentation as federal government and magnate go to an annual gathering in Davos next week. Almost one in 4 of the more than 900 specialists surveyed across academia, company and policymaking ranked dispute, including wars and terrorism, as the most serious danger to financial growth for the year ahead. Extreme weather condition, the no. 1 concern in 2024, was the second-ranked danger. In a world marked by deepening divides and cascading dangers, worldwide leaders have an option: to promote partnership and durability, or face compounding instability, WEF Managing Director Mirek Dusek said in a statement accompanying the report. The stakes have actually never been higher. The WEF gets underway on Jan. 20 and Donald Trump, who will be sworn in as the 47th president of the United States the exact same day and has actually promised to end the war in Ukraine, will deal with the meeting virtually on Jan. 23. Ukraine President Volodymyr Zelenskiy will attend the meeting and offer a speech on Jan. 21, according to the WEF organisers. Among other international leaders due to participate in the meeting are European Commission President Ursula von der Leyen and China's. Vice Premier Ding Xuexiang. Syria, the horrible humanitarian scenario in Gaza and the. possible escalation of the conflict in the Middle East will be. a focus at the event, according to WEF President and CEO. Borge Brende. Mediators were working out the final details of a. possible ceasefire in Gaza on Wednesday, following marathon. talks in Qatar. The hazard of false information and disinformation was ranked. as the most serious international risk over the next 2 years,. according to the survey, the same ranking as in 2024. Over a 10-year horizon environmental risks controlled. professionals' danger issues, the survey revealed. Extreme weather condition was. the top longer-term worldwide risk, followed by biodiversity loss,. crucial modification to earth's systems and a scarcity of natural. resources. International temperature levels last year went beyond 1.5 degrees Celsius. ( 34.7 degrees Fahrenheit) above the pre-industrial age for the. first time, bringing the world better to breaching the promise. federal governments made under the 2015 Paris environment contract. An international risk is defined by the survey as a condition that. would adversely impact a significant percentage of international GDP,. population or natural resources. Specialists were surveyed in. September and October. Most of respondents, 64%, anticipate a multipolar,. fragmented international order to continue.
-
Gold firms as dollar, yields slip; United States inflation information looms
Gold costs firmed on Wednesday as the U.S. dollar and Treasury yields retreated, while markets individuals waited for U.S. inflation information for ideas on Federal Reserve's interest rate method. Spot gold gained 0.2% to $2,683.62 per ounce by 0903 GMT. U.S. gold futures was up 0.7% to $2,701.80. The dollar index relieved 0.1%, making bullion more attractive for other currency holders. The benchmark 10-year Treasury yields likewise slipped. The U.S. Customer Rate Index (CPI) data is due at 1330 GMT. A Reuters poll anticipated a year-on-year rise of 2.9% versus 2.7%. in November 2024 and a month-on-month boost of 0.3%. The marketplace is on hold, awaiting the CPI data to see its. influence on rate cuts while the upcoming inauguration of President. Trump adds to market unpredictability, which is supplying gold some. assistance, said Ole Hansen, head of commodity technique at Saxo. Bank. If CPI data is suddenly low, it might convince the. market that we are still on a path to rate cuts, with the marketplace. prices just between nothing and one cut this year, he included. Information on Tuesday showed U.S. manufacturer rates rose reasonably. in December, but that is not likely to alter views that the U.S. reserve bank would not cut rates once again before the 2nd half of. this year amidst labour market durability. On The Other Hand, President-elect Donald Trump is set to begin his. second term next week, financiers are anxious about his vow to. enforce tariffs on a wide range of imports, fearing they could. fuel inflation and additional limitation the Fed's ability to lower. rates. Non-yielding bullion is utilized as a hedge against inflation,. although higher interest rates reduce its appeal. Area silver firmed 0.4% to $30.00 per ounce and. platinum steadied at $935.60 and palladium increased. 0.2% to $941.25.
Sixty bodies retrieved from closed South African cash cow
South African authorities have pulled at least 60 bodies from the shaft of a. closed gold mine more than 2 km (1.2 miles) underground where an. unidentified number of guys are still feared trapped, following a. siege in a crackdown on illegal mining.
The siege, which started in August at the mine in the town of. Stilfontein, about 150 km (90 miles) from Johannesburg, cut off. food and water materials for months in an effort to require the. miners to the surface area so that they might be detained.
On Monday, authorities used a metal cage to begin recuperating. males and bodies from the shaft, in an operation expected to run. for days.
We do not know precisely the number of individuals are remaining there,. South African Authorities Minister Senzo Mchunu informed broadcaster. eNCA. We are concentrating on getting them, assisting them out.
It was tough to state when all the miners would be brought. up, he said, including, When each one of the miners who are. underground went there, nobody was counting.
In a statement, authorities said 51 bodies had actually been recovered by. Tuesday night, following nine the previous day.
The 106 survivors pulled from the mine on Tuesday were. jailed for prohibited mining, swelling the figure of 26 a day. previously, they included.
For decades, South Africa's precious metals industry has. battled prohibited mining, which costs the government and market. numerous countless dollars a year in lost sales, taxes and. royalties, a mining industry body estimates.
Typically, it is centred on mines deserted by companies as. they are no longer commercially viable on a large scale. Unlicensed miners, known locally for taking a chance, go in to. extract whatever may be left.
The South African government has stated the siege of the. Stilfontein mine was essential to combat illegal mining, which. Mining Minister Gwede Mantashe called a war on the economy.
But homeowners and rights groups have criticised the. crackdown, part of an operation called Close the Hole.
(source: Reuters)