Latest News
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Tennis-Battling mertens saves eleven match points to reach Den Bosch Final
Elise Mertens, the third seeded Belgian, saved 11 match points to beat Ekaterina Alexova (2-6 7-6(7) 6-1), a two-time champion. She will now face Elena-Gabriela Ruse in Saturday's Libema Open Final at Den Bosch. Mertens lost the first set and fell behind 5-3 in the second. She fought back to force the tiebreak, before beating the Russian second seed. Alexandrova was aiming for her third title after winning in 2022 & 2023. Mertens: "I lost track after the first one, I didn't know there were 11. "I was focused on the game and I liked that. I just kept going." "It was difficult, she started well and won 6-2, 5-3." I stayed focused on the game, and I gave it my all. Alexandrova has won the only previous match in Den Bosch in 2019. She has also reached the quarter-finals in the last five editions. Mertens has the opportunity to win her second title in this year after winning in Singapore in February. Mertens will face Romanian qualifier Ruse, who won the second set after losing the first one. She defeated Italian Elisabetta cocciaretto by 2-6 6-4. Mertens won the three previous encounters with Ruse. Trevor Stynes reported the story, Pritha Sakar edited it.
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Russia and Ukraine swap prisoners of war but Moscow receives no war dead.
The Russian Defence Ministry announced that Russia and Ukraine exchanged prisoners of war (POWs), and Russia delivered the bodies 1200 Ukrainian soldiers who died to Kyiv. The exchanges are part and parcel of the agreements that were reached between the warring parties during their talks in Istanbul earlier this year. Ukraine confirmed earlier this Saturday that it had received the remains of its soldiers who were killed in action. The Russian state media, citing unnamed sources, reported that Moscow has not received any of the war dead it sent to Kyiv. This echoes a statement Russia issued on Friday. It had returned 1,200 bodies of Ukrainian soldiers killed and received none of their own. The Russian Defence Ministry did not specify how many prisoners were exchanged with Ukraine in Saturday's swap, but posted a video of its soldiers cheering and holding Russian flags before boarding a vehicle. Defence Ministry: The Russian soldiers are currently receiving medical treatment in Belarus before being transferred back to Russia.
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Two Australians killed in Bali, Indonesia
Local police reported that an Australian man was killed and another Australian injured in a shooting accident on the Indonesian Island of Bali shortly after midnight Saturday. According to the news website Detik.com, Bali police spokesperson Ariasandy stated that they are searching for two individuals believed to have been involved in a shooting at a villa located in Badung Regency, on the southern part of the island. Detik reported that Zivan R., 32, and Sanar G., 35, were identified only by their first name. Zivan died on the spot, while Sanar was severely injured. He has been transferred to intensive care in a hospital. Ariasandy stated that witnesses had described two people who fled the scene on two motorbikes. He claimed that the two men were heard to speak English with an Australian accent. (Reporting and editing by Raju Gopikrishnan; Gayatri Sroyo)
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Kazakh agency reports that Rosatom will lead consortium for first nuclear power plant to be built in Kazakhstan
The atomic energy agency of Kazakhstan announced on Saturday that Rosatom, Russia's nuclear state corporation, has been selected to lead a consortium for the construction of the first nuclear plant in Kazakhstan. The state-owned China National Nuclear Corporation as well as French or South Korean companies also submitted proposals. Kazakh Atomic Energy Agency, which was established in March this year, has said that it has reviewed and evaluated various reactor technologies based on criteria such as nuclear plant safety, training of personnel, and other factors. It said that "the agency determined that the most advantageous and optimal proposals for construction of a Nuclear Power Plant in Kazakhstan came from the Russian Company Rosatom." "According to Rosatom's proposal, the work on attracting state-funded export financing from Russia has started." In November, Russian President Vladimir Putin met with Kazakhstani officials to discuss boosting energy and industrial ties. Kazakhstan exports the majority of its oil via Russia but is looking at alternatives. In an article published in the Kazakhstanskaya Pravda, Putin stated that Rosatom is "ready for new large-scale project". Kazakhstan, with a population of 20,000,000, voted to build its first nuclear plant in October. Some Kazakhs were concerned about the involvement of a neighbor that invaded another country, Ukraine, and criticized the plan. (Reporting and writing by Tamara Vaal, Lucy Papachristou and Guy Faulconbridge).
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Edda Wind Welcomes New CSOV to its Fleet
GONDAN Shipbuilders has delivered a newly built Commissioning Service Operations Vessel (CSOV) Austri Enabler to Norwegian shipowner Edda Wind.The Austri Enabler, designed by Norwegian company Salt Ship Design, is part of a new generation of vessels designed to mark a turning point in the offshore wind energy sector.Austri Enabler is the fourth and last vessel in a series of four sister vessels from Gondan and follows Nordri Enabler, Sudri Enabler and Vestri Enabler. It is also the eight vessel that Gondan has delivered to Edda Wind.The vessel has secured a 12-month contract, with options, and will start operations outside U.K. in the third quarter of 2025, Edda Wind said without revealing any additional details.Together with its sister ships, Austri Enabler has been developed with the aim of optimizing operations in offshore wind farms, acting as the main support vessel during the commissioning and maintenance of wind turbines at sea.With a length of 88 meters and a beam of 19.7 meters, the vessel is equipped with cutting-edge technology in both operational efficiency and sustainability.It can accommodate up to 120 people - 97 technicians and 23 crew members - and features the latest solutions in automation and technical assistance, including a 3D-compensated offshore crane, an active gangway with a reach of 30 meters, an integrated elevator with a capacity for 26 people, and a 21-meter-diameter helipad.The ship’s propulsion uses cycloidal propellers driven by permanent magnet motors, combined with liquid hydrogen carrier (LOHC)-ready technology, positioning it as a platform capable of achieving fully emission-free operations.
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As the Middle East erupts, investors choose oil and safe havens over stocks.
U.S. Investors sought refuge on Friday in safe-haven assets such as the dollar and gold after oil prices soared following Iran's retaliation against Israel's largest-ever military attack against the major producer of crude. Iran launches airstrikes against Israel After unprecedented Israeli strikes, some fear a regional conflagration. On Friday, explosions were heard in Jerusalem and Tel Aviv - the two largest cities of Israel. Israel had earlier destroyed Iran's vast underground nuclear facility at Natanz and killed top military leaders. Investors believe that the markets will likely survive the latest hostilities, unless Iranian oil installations are attacked or if other countries get involved in the conflict. Crude prices soared up to 14% due to fears of possible disruptions in oil shipments. Oil futures closed the day 7% higher. Jim Baird is the chief investment officer of Plante Moran Financial Advisors, Southfield, Michigan. Money manager says he expects "a little more flight to quality trade" if stocks continue to fall. This could be beneficial for gold and Treasuries. How long will it last? How intense will the battle be? Will it attract other parties? "From a large-scale economic perspective, it doesn't seem to make a material difference," he said. Gold prices in safe-havens rose by more than 1 percent, while Wall Street's major equity indices fell more than 1 percent. Oil prices were brought into sharp focus by the outbreak of war. Iran is one of the largest crude exporters in the world. It borders the Strait of Hormuz which is a major choke point for crude tankers and through which a fifth of the global crude consumption passes. Iran has threatened to close the Strait of Hormuz as a retaliation against Western pressure. Oil prices rose and investors looked for safe havens. U.S. government bonds yields increased on the bets higher energy prices would cause inflation. Brent crude oil, the benchmark for global crude oil prices, is still well below $80 per barrel, despite the recent spike. Irene Tunkel is the Chief U.S. Equity Strategy at BCA Research. She said that she doesn't see any long-term implications for U.S. markets unless oil prices rise above $100 per barrel. This would affect consumer spending. She said this was unlikely, unless the oil infrastructure is destroyed. Or "Iran closes the Strait of Hormuz in some way and (the conflict spills) out of Iran. And energy production is shifted to Iraq." The strategist noted that Friday's S&P 500 decline followed a rally from lows in April. Donald Trump, the U.S. president, said that Iran still had time to stop Israel's attacks by negotiating a deal with its nuclear program. Investors were concerned about how central banks might handle interest rates in the event that U.S. consumer costs rise as a result of Trump's tariffs. Jack Janasiewicz is a portfolio manager with Natixis Investment Managers, based in Boston. He said that the possibility of higher inflation due to rising oil prices was "less supportive" of U.S. Government bond prices. He did note that investors usually take geopolitical crisis in stride. "Historically, with these geopolitical issues, the market has a knee-jerk response but the long-term implications tend to fade. Janasiewicz said that history tells us we should look past some of these things. OIL PRICE RALLY Janasiewicz stated that the final gains in oil prices would depend on the length of the war and if U.S. supplies could be increased to cap prices, if there was a disruption in supply. Janasiewicz stated that "from a U.S. standpoint, it's a little more insulated" because domestic producers can certainly increase production. On Friday, the dollar index, the safe-haven asset that has been the focus of risk aversion in recent months, was up 0.5%. Fiona Cincotta, City Index's strategist, said that the dollar was returning to its traditional role as a safe haven. Investors warned that the market may not have been cautious enough despite Wall Street's selling off. James Athey, the manager of Marlborough Fixed Income Fund, said that investors could be tempted to return to riskier assets if tensions don't rise quickly. He said that "in general, the markets tend to pass over these types of events fairly quickly. But of course, therein lies a risk of complacency." He said, "The situation is really tense and fraught. Risk assets are still being priced to perfection."
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US Court extends the pause in Nippon Steel Case, seeking updates by June 20,
The U.S. Appeals Court on Friday extended a pause between Nippon Steel, the Trump Administration and other parties in the litigation over the Japanese steelmaker’s $14.9 billion offer for U.S. Steel. Nippon Steel & U.S. Steel are putting the final touches on an agreement to be signed with the Trump Administration. This is in order to alleviate national security concerns raised by the proposed tie-up announced in December 2023, but blocked by Joe Biden. This agreement would allow for the transaction to proceed. The D.C. Circuit stated that the litigation will be paused pending further orders from the court. The judges of the panel -- Patricia Millett (chair), Cornelia Pillard (co-chair) and J. Michelle Childs (member) -- have also instructed the parties to update the court by June 20, about any further legal proceedings. This filing may ask the court to put the case on hold or to ask the judges to create a new timetable. (Reporting and editing by Diane Craft, Alistair Bell and Alexandra Alper)
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Holiday schedule for US economic and other data
The release of major economic, energy, and commodity reports from Washington will be affected by the Juneteenth federal holiday, which falls on Thursday, 19th June. The schedule is below. The times are in EDT/GMT. Some Treasury announcements may be subject to change. Monday, June 16 The U.S. Department of Agriculture releases weekly U.S. Export Inspections for Grains, Oilseeds and 1100/1500 Treasury Department's Weekly Sale of 3- and 6-Month Bills, 1130/1530 National Oilseed Processors Association releases monthly U.S. Soybean Crush, 1200/1600 Treasury Department offers 20-year Bonds, 1300/1700 USDA releases weekly Crop Progress 1600/2000 Tuesday, June 17 Commerce Department releases Retail Sales for the month of May, 830/1230 Labor Department releases Import and export prices for May, 830/1230 Redbook releases weekly retail sales index 0855/1255 Federal Open Market Committee starts two-day meeting to discuss interest rate policy. Start time TBA Federal Reserve releases Industrial Production for May 0915/1315 Commerce Department releases Business Inventories April 1000/1400 Treasury Department announces weekly sale of 4-, 8, and 17-week Bills, 1100/1500 Treasury Department sells 6-week bills every week, 1130/1530 Treasury Department sells 5-year Treasury Inflation Protected Securities, 1300/1700 American Petroleum Institute releases weekly national petroleum reports, 1630/2030 Wednesday, June 18, Mortgage Bankers Association releases weekly Mortgage Application Survey, 0700/1100 Commerce Department Issues Housing Starts For May, 830/1230 Labor Department releases weekly jobless claims, 0830/1230. Note: Issued one day before due to holiday Energy Information Administration (EIA), Weekly Petroleum Stocks and Output Data, 1030/1430 Treasury Department announces weekly 3-, 6-, and 6-week bills; sales of 2-year floating-rate notes; 2- and 5-year notes; and 2-, 7-, and 10-year notes. Note: Due to the holiday, Treasury Department announces 3- and 6-month bills and 6-week bill sales one day before. Treasury Department will hold weekly sales for 4- and 8 week bills, 17-week bill, 1130/1530. Note: Due to the holiday, 4- and 8 week bills are sold one day before. Freddie Mac issues weekly U.S. mortgage rates, 1200/1600. Note: Rates are published one day before the holiday. EIA releases weekly U.S. Underground Natural Gas Stocks, 1200/1600. Note: Issued one day ahead due to time change. Federal Open Market Committee Issues Statement on Interest Rate Policy, 1400/1800 Treasury Department Issues Treasury International Capital for April 1600/2000 Thursday, June 19 Juneteenth holiday. Closed federal government offices, Federal Reserve and International Monetary Fund. Stock and bond markets. Friday, June 20 USDA releases weekly export sales, 0830/1230. Due to the holiday, this week's export sales are delayed. Conference Board releases Leading Indicators for the month of May, 1000/1400 USDA Cattle on Feed Monthly, 1500/1900 Federal Reserve releases Weekly Balance Sheet, 1630/2030. Note: this is a delayed release from Thursday because of the holiday.
OPEC Secretary general: Oil demand will continue to grow, but there is no peak in sight
Haitham Al Ghais, OPEC secretary general, said that the growth in oil demand will continue to be robust for the next 25 years as the global population continues to grow.
The organization predicts that the global energy demand will increase by 24% between now and 2050. Oil consumption is expected to exceed 120 million barrels of oil per day during this time period.
This estimate is consistent with the World Oil Outlook 2024.
Al Ghais, who spoke at the Global Energy Show, held in Calgary, Alberta, said that there was no imminent peak in oil demand.
He said OPEC admired the efforts made by Canada's oil industry to increase its output of oil in recent years.
OPEC has unwinded its production cuts faster than initially anticipated. Production for May, July and June increased by 411,000 barrels a day. Oil prices have been pushed up by the increases and concerns about President Donald Trump’s trade war affecting the global economy.
On Tuesday, global Brent futures traded at $67.28 per barrel.
The U.S. Energy Information Administration said on Tuesday that it expects Brent oil prices to drop near $60 per barrel by the end the year and to average $59 per barrel next year. This will affect U.S. production of oil.
Al Ghais said on Tuesday that OPEC also welcomed recent pushbacks against what he called unrealistic climate goals. He stressed the need to reduce emission but not to pick and choose energy sources.
(source: Reuters)