Latest News
-
Wildfires in western Germany force Germany to evacuate 2,000 people
Local authorities reported that 2,000 people were forced to evacuate their homes on Friday in western Germany after a wildfire near the Belgian border spread into a village. Residents in the village of Gey were asked to evacuate their homes at 4:00 am (0200 GMT), and to go to a help centre that was set up in a nearby village. The?instruction was to only carry essential items, such as identification documents and medicines. Mona Neubaur posted on X that "this forest fire threatens to strike the local community very hard." WDR reported that Mayor Stephan Cranen stated?that despite the fact that the evacuation was complete, the situation still remained critical. The flames are now about 300 metres away from the village. Cranen said that one of the wildfires which are still out of control has spread overnight towards an old munitions depot near the town of Dueren. Firefighters were quoted as saying that there was unexploded World war two munitions in the forest surrounding the town of Dueren because of the hilly terrain. Two German army tanks cleared access routes to the difficult-to-reach forest area, allowing firefighters to reach 300 hectares (740 acre) of?fire. There are large swathes in Germany that are battling dry conditions with high fire risks. Reporting by Friederike Hiene in Berlin and Andi KRANZ in Huertgenwald. Editing by Clarence Fernandez, Sharon Singleton and Sharon Singleton.
-
After rally, copper prices fall as demand concerns dominate the conversation
Copper prices fell on Friday but have remained higher so far this week, as analysts wondered if global demand would be able to keep up with the recent price rally. Benchmark three-month copper on the London Metal Exchange fell 0.34% to $14,100.5 per metric ton at 0715 GMT. The red metal will likely gain 0.3% this week. This is the longest weekly streak it has had since 2020, when it gained 5.49%. The Shanghai Futures Exchange's most traded copper contract fell?0.12% to 107 690 yuan (15,970.64) per ton. The economic activity could be boosted by the fact that inflationary pressures are easing and concerns about interest rate hikes are receding. Fastmarkets analyst Andy Farida stated that "demand for base metals appears resilient but it's questionable whether?it will be able to maintain the same strong momentum, given how rapidly asset prices have accelerated and wage growth has been somewhat subdued." According to the CME's FedWatch, interest-rate traders have reduced the probability of the Federal Reserve raising rates during its September meeting from 44% on Friday. The LME's aluminium prices fell by 0.75%, and are expected to finish the week 1.19% lower. The price of the light metal fell by 1.14% on the SHFE. The Middle East's supply recovery prospects eased some of the expected tightness. Norsk Hydro said that the Alunorte refinery in Brazil has started to increase its alumina output after temporarily reducing it. Among LME metals, zinc dipped 0.33%, ?lead dipped 0.24%, nickel lost 0.36% ?and tin dipped 0.07%. The SHFE showed that?zinc fell 0.19%; lead dropped 0.88%; nickel declined 1.32%, and tin barely changed, only increasing by 0.04%.
-
U.S. TerraPower and South Korea's SK Innovation Sign preliminary agreement on global SMR Projects
The Industry Ministry in Seoul announced that TerraPower and South Korea’s SK Innovation had signed a preliminary agreement on small modular reactors. This will allow the SK Group affiliate to participate in TerraPower's domestic and international projects. According to the ministry, Bill Gates and Chey Tae Won, Chairman of SK Group, signed the agreement at a Seoul meeting with Industry Minister Kim Jung Kwan. According to the ministry, the deal allows SK Innovation (the parent company of South 'Korea's biggest oil refiner) to participate in developing 'TerraPower's SMR project in the United States as well as overseas. The ministry did not disclose the financial terms of any investment or its scope. TerraPower is a company backed by Gates that has developed its sodium-cooled Natrium project in Kemmerer Wyoming. The company has received a permit for construction from the U.S. Nuclear Regulatory Commission and plans to begin commercial operations in 2031. South Korea's?Doosan?Energy said on Friday that it had won a deal with TerraPower for the manufacture of key components, including the reactor vessel, internal structures, and support structures. The?ministry stated that South Korean companies such as SK and HD Hyundai made financial investments?in TerraPower, and also seek roles?in the equipment supply, operation and construction of its U.S. projects and overseas. According to the ministry, global interest in SMRs is increasing due to growing electricity demand from AI infrastructure and data centres. This creates opportunities for Korean suppliers who want access to emerging overseas supply chains. (Reporting and editing by Ed Davies.)
-
Nigeria's Dangote refining plans retail-focused IPO; no foreign listing yet
The CEO of Dangote Petroleum Refinery said that the planned October IPO could 'become Africa’s largest' and would allow Nigerians to share 'in its growth. Sources familiar with the issue told the Nigerian Securities and Exchange Commission this month that the refinery had submitted a?application'for a $5 billion IPO, but the size of the IPO is still unknown. David Bird, CEO of David Bird, said in an interview that "we really want to drive the participation." "The IPO's mandate was to be a people's IPO." Bird stated that the company wanted to have at least three years' worth of financial and production performance under its belt before it pursued an overseas listing. This would?support a higher valuation. London was mentioned as a potential venue. Bird refused to comment on?the size of the IPO or refinery's value. Source said that the company would be able to take into consideration the $2.5 billion raised by the company in July's private placement which valued the refinery around $40 billion. Strong INTEREST Aliko Dangote is Africa's richest person. His refinery has benefited from the disruption caused by the Iran War, selling jet-fuel across Africa and to western Europe, as buyers looked for alternative supplies. Bird reported that it became Europe's biggest supplier of jet-fuel in June and Juli. He said that the IPO was on track and that investor interest was high during pre-marketing and July's private placement. Africa Finance Corporation announced on Thursday that it was the leader of a group strategic investors for the private placement. The deal, they said, had been 3.7 times oversubscribed and received strong demand from African institutional investors and international investors. Bird said that the refinery was a better option than U.S. assets due to its strong domestic demand, access to local crude oil supplies and integrated operations. EXPANSION PLANNED Bird confirmed that the company aims at doubling its refining capacity from 1.4 million barrels per day to 1.4 millions barrels per day in three years. This will be funded partially through debt and the IPO. He claimed that the expansion would be much cheaper than the roughly $20 billion originally spent on a refinery. Bird stated that Africa is structurally lacking in refined fuels and petrochemicals. This leaves significant room for expansion. The refinery provides all the jet fuel and most of the gasoline that Nigeria needs. Duncan Miriri contributed additional reporting from Nairobi. (Editing by Silvia Alassi and Mark Potter).
-
Asian refiners continue to buy US crude despite the blockade of Hormuz, traders claim
Four Asian refiners purchased U.S. crude oil this week as the Strait?Hormuz was effectively closed. Refiners were looking for alternative supplies to be delivered later this year. The shipping traffic in the 'Strait of Hormuz' fell below average this month at the end of last week, due to the competing claims of Iran and the United States over the control of the waterway. Strong refining margins and tight fuel supplies, coupled with the lack of immediate prospects of free?shipping across the strait have encouraged refiners to secure crude stocks for the coming months beyond the Gulf. Shell's GS Caltex in South Korea purchased two million barrels for delivery in November. The crude was "priced" at around $13-14 a barrel more than the benchmark October Dubai price, traders reported. Eneos Corp., Japan's largest refiner, bought 2 million barrels West Texas Intermediate crude (WTI) from Trafigura. The price was $10 higher than the October WTI. CPC Corp, Taiwan's state owned company, purchased 2 million barrels WTI through a tender for a premium between $8 and $9 per barrel over Dated Brent. CPC Corp. also bought crude oil from West Africa via the tender. Companies rarely comment on business deals. Before the Iran War, Asia got more than half its crude oil supply from the Middle East. According to data from ship tracking firm Kpler, the region imported 2,35 million barrels of crude oil per day from the U.S. in July. This was a record. The state-run refineries in India, Hindustan Petroleum Corp. and Mangalore Refinery & Petrochemicals Ltd. also released tenders this week to purchase crude. Siyi Liu reported from Singapore and Philippa Fletcher edited the story.
-
Taiwan's parliament approves three referendums including one on the caning of sex-criminals
Taiwan's opposition-controlled parliament voted on Friday to hold three referendums, including one ?on caning criminals convicted of sex crimes and ?fraud, and another to support nuclear power, which could be held ?later this year. Taiwan holds referendums?every few year,?generally?after?the citizens sign up for specific proposals. However, lawmakers can also approve these, as in the case of these three votes by lawmakers. The measures must be approved formally by the electoral commission, which will determine the date of the vote. There is no guarantee they will become law if they are passed. A relatively high approval threshold has also been a problem in previous referendums. Taiwan will hold local elections on November 28 for county chiefs, city mayors and other officials. The three referendums may also be held at the same time. The Kuomintang, Taiwan's largest opposition party, proposed both the canning referendum and the nuclear referendum. The third referendum, which was proposed by the tiny Taiwan People's Party, (TPP), that generally votes with KMT, concerns the use of traffic fines for road safety improvement. The ruling Democratic Progressive Party has voted against all three referendums. The opposition believes that the key to a successful referendum is the turnout, and wants them held on the same date as local elections. A referendum must pass if at least 25 percent of the roughly 20 million eligible voters on the island vote in favor. There must be at the very least 5 million "yes' votes and they must outnumber "no' votes. In August last year, an opposition-backed stand-alone referendum to reopen Taiwan's final nuclear plant failed because it didn't reach the legal threshold for validity. The Cabinet has three months in theory to submit relevant legislation to the parliament for approval if referendums are successful. Voters in?2018 approved referendums opposing marriage equality. The same-sex marriage was legalised in the year following because Parliament voted to enforce an earlier court ruling that blocking it would be unconstitutional. Ben Blanchard reports.
-
France evacuates 525 people as another wildfire strikes southwest pine forests
French authorities evacuated 525 villages after a wildfire broke out in pine woods near an area that was already devastated by major fires this summer. Gilles Clavreul, regional official, told reporters on Friday that the fire had spread within two kilometers (1.2 miles) from the center of Luglon. He said that the situation was "unfavorable" and added?that six aircraft were sent to help. The police have closed the road to the north and the south, putting a stop to traffic in the village. Luglon lies about 100 km (62 mi) south of Arcachon Bay. Two major fires destroyed more than 124,000 acres of land, forcing 220,000 people to evacuate in July. In France's unheard of wildfire season, temperatures will soar to 36° Celsius (97° Fahrenheit) this Friday afternoon. The area burned so far is greater than the previous record of?2022. The Landes region is surrounded by pine forests that are highly flammable once they dry. (Reporting and writing by Stephanie Lecocq, Jean-Stephane Brosse, Inti Landauro; editing by Clarence Fernandez).
-
Wildfires in Germany force the evacuation of 1,800 people after reaching a border village
In the early hours of Friday morning, authorities in Germany ordered about 1,800 residents to leave their homes after a wildfire spread from the west to a village near the Belgian border. In a statement issued at 4 am (0200 GMT), officials from the municipality of Strass said that residents should immediately leave the village?of Gey and head to the assistance centre set up in the nearby village Strass. The 'only essentials' were identification documents, medicines and essential belongings. Authorities said that a wildfire in the nearby woods affected about 25 hectares (62 acre) and triggered a major response. The B399 road through the area, which was closed by emergency services and firefighters, was shut down. Weather officials warn that large swathes of Germany face dry conditions with high fire risks. A wetter winter, which fueled growth in vegetation, dried up during rolling heatwaves. (Writing and editing by Clarence Fernandez; Friederike Heine)
AI is revolutionizing the most prolific film industry in the world
Welcome to the new look movie set. The cacophony created by cameras, clapperboards, and shouted instructions has been replaced with the quiet hum from a coding room.
Collective Artists Network is a leading talent agency that represents Bollywood's A-listers. It has been facilitating the careers of superstars for many years. It's now engineering digital ones. The Bengaluru facility uses artificial intelligence to create content that is based on Hindu mythology, a genre popular in India. In a movie based on a religious text called "Ramayana," there is a scene where the god Hanuman is seen flying with a mountain in his arms. The show "Mahabharat" is based on another ancient epic. It features a scene depicting princess Gandhari who blindfolded her eyes when she married a blind king.
India is the country that produces most movies, and its stars like Shah Rukh Khan or?Amitabh?Bachchan have cult followings. Many?industry participants say that changing audience habits and the growth of streaming are impacting production budgets. Ormax Media, a consulting firm, says that moviegoers will drop to 832 millions in 2025 compared to 1.03 billion people in 2019. Box-office sales last year?hit an all-time high of $1.4 billion, but revenue has been choppy and dependent on a few hits and more expensive tickets since the pandemic. To view this story on.com go to
India's studios are deploying AI on a massive scale, releasing films in multiple languages and even recutting the endings of old titles in order to increase sales. They are also reshaping filmmaking economics by reducing production timelines and utilizing AI to improve efficiency.
Rahul Regulapati is the head of Collective's AI Studio, Galleri5. How about production time? He said, "down to a quarter."
Hollywood has taken a different approach, with union contracts and concerns about job loss limiting studios' adoption of AI. Google, Microsoft, and Nvidia are making early bets in India by partnering local filmmakers. At least one major production company is reviewing its entire catalog for AI rereleases. In previous reporting, we have explored the ways in which Indian filmmakers harness AI and India's divergence from Hollywood. The first report to detail the extent of India's film industries?reorganization around AI, and the economics that are driving this shift. This story includes interviews with 25 people, including directors and studio heads. American and British studios are experimenting with AI filmmaking. They will produce the first full-length AI animation features in 2024, and an AI powered immersive version of 'The Wizard of Oz' last year.
Dominic Lees said that India's film-makers' ambitions are at a?different level. He is a researcher in AI and film at the University of Reading, Britain. He said that if India can meet the demands, it will become a leader in AI filmmaking. India's pivot towards AI is a reflection of its embracement of technology in general. India bet last year that embracing AI would create enough opportunities to offset any short-term disruption. According to an analysis by EY, AI could increase revenue for Indian media and entertainment companies by 10% while reducing costs by 15% in the medium term.
Vikram malhotra, the founder of Abundantia Entertainment told reporters that Abundantia Entertainment is building their AI capability from scratch. The Bollywood production house recently announced an investment of $11 million in a studio for AI.
NEW ENDINGS FOR OLD DRAMAS
India's Eros Media World released "Raanjhanaa" with an AI-altered version last year. The film replaced the tragic ending in which the protagonist dies with a happier conclusion where the lover smiles through tears when he opens his eyes.
Rewrites drew criticism. Dhanush, Dhanush is the name of the actor who plays the main role. He said on X, that the AI remake "stripped away the film's very soul." It also set a "deeply worrying precedent for artists and art."
The re-released "Raanjhanaa", however, still attracted audiences. PVR Inox India's biggest cinema chain reported that 35% of tickets for the Tamil-language version were sold in August, the month when the film was released. This was 12 percentage points more than the average for 2025.
Eros has gone further. Pradeep Dwivedi is the group CEO and he said that Eros was reviewing its 3,000 titles catalog to "identify candidates for AI-assisted adaption." Last year, Eros' Indian unit Eros International warned about "competition by digital platforms," as its annual consolidated revenue from operations dropped 44%.
Dwivedi explained that the AI rewrites are both a revenue-generating opportunity and a strategy for creative renewal. Hollywood would have to deal with such changes. A deal with the U.S. actors union SAGAFTRA prohibits studios from digitally altering an actor's performance, or creating a digital copy without informed consent. The Directors Guild of America contract prohibits studios from relying on AI to make creative decisions without consulting directors and forbids AI from performing the work of their members.
Indian studios are experimenting aggressively with AI in Hindu mythology tales. This is big business for a country that has millions of devotees. Collective plans eight AI-generated titles focusing on deities like Hanuman and Krishna.
JioStar is a joint venture media company between Mukesh Ambani’s Reliance Media and Walt Disney. It airs an AI-generated version of the Hindu epic “Mahabharat” – the first episode series that emerged from Collective’s cinematic AI laboratory.
JioStar said that the AI version of the story about a dynastic battle between princes, which was released in October on the streaming platform by JioStar, has attracted 26.5 million viewers since its release. A previous TV adaptation attracted 200 million viewers from 1988 to 1990. However, the show has been met with a mixed reception by audiences. IMDb gives "Mahabharat", a 1.4-star rating. Some reviewers cite lip-syncing issues, while others say that some scenes are low-quality and lack authenticity because of unnatural styling.
Alok Jain is a senior executive with JioStar. He stated that the response has been "a mixture of appreciation and healthy discussion, which is normal for any ambitious creative step." JioStar also plans to make original stories using AI.
Some film industry figures have expressed concern about the use of AI. Jonathan Taplin, a writer and producer from the United States who has worked for Hollywood studios, says that the use of AI to create feature films is an "affront to all of cinema's history."
He said, "It'll fill your screens and cinemas with formula slop."
AI DUBBING
The acceptance of AI may be easier to achieve through dubbing.
India has 22 official languages, and there are hundreds of dialects. Dubbing is essential to make a movie a blockbuster in India. AI is now beginning to solve the problem of mismatched lip movements, a complaint that audiences have had for years.
Subhabrata Debnath, the co-founder of NeuralGarage in Bengaluru, a startup that offers dubbing services to top studios such as Yash Raj Films and other major studios, demonstrated a clip showing an AI-generated English character. Subhabrata Debnath then added a German audio track and the character spoke fluent German within minutes.
Debnath explained that the technology preserved "the performance, the identity and the speaking styles of the person", while modifying the face to look natural.
Last year, NeuralGarage AI technology was used to translate Yashraj's Hindi film "War 2" from the Hindi language into Telugu of south India. The production house did not respond to any questions.
The Red Carpet meets the RED MAJORS
Tech giants around the world are also interested in getting a piece. Google partnered in August with Bollywood director Shakun Bhatra to produce a 5-part cinematic'series' using Veo 3 video generation and Flow AI to experiment with AI powered filmmaking. Mira Lane is Google's Vice President of Technology and Society. She said that AI can also help independent artists create complex sequences which "might be otherwise out of reach because of budget or logistical limitations."
Microsoft has been working on a collaboration with Collective, and it said that Microsoft would be providing AI computing power in order to "shape" the next wave of global story-telling through such collaborations.
Collective uses a hybrid approach of digital animation and physical recording to bypass the limitations of text prompts. The actors wear motion-capture suits equipped with sensors to capture body movements in 3D, while their smartphones record facial expressions. This data is then fed into the AI pipeline to allow for more nuanced control of the AI generated characters.
The ripples go beyond the studio. Festivals dedicated to AI-generated shorts have proliferated around the world, including in Los Angeles, Cannes and Barcelona. India's first event took place at Mumbai's Royal Opera House in November, when young storytellers and a robot walked down the red carpet.
In February, Nvidia was on stage in New Delhi with the second edition of India’s AI Film Festival. Pradeep Gupta told the audience that Nvidia is working on reducing computing costs to allow anyone "to create something substantial" without spending a lot of cash.
Anurag Kashyap is a Bollywood Director who expressed concern about the use of AI and its growth in India. He reluctantly acknowledged the economic benefits of studios deploying the technology.
In India, cinema doesn't revolve around art. "It's just business. Studios will use it to create mythologicals," Kashyap stated of AI. "Our audience loves it."
(source: Reuters)