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Two dead in Palestinian attack in Israel, Israeli authorities say
Israeli emergency services reported that a Palestinian attacker ran over a man, stabbed a woman in the neck and killed both of them on Friday. Israeli police released a statement saying that the assailant was wounded and shot by a civilian on the spot. He was then taken to hospital. The police added, "This was a?rolling?terrorist attack." Israeli Defence Minister 'Israel Katz' said that he had ordered the military to respond with force in the West Bank city of Qabaitya where the attacker allegedly hailed from to prevent any further attacks. The Israeli military has said that it is "preparing an operation" for the area. The Israeli ambulance service reported that the woman and man were both pronounced dead on the scene, after medics failed to revive them. (Reporting and editing by Alexandra Hudson, Hugh Lawson and Maayan Libell)
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Silver trading, from shares and coins to bars and stocks
Silver has surpassed $75 per ounce for first time, fueled by strong industrial demand and investment, persistent shortages of supply, recent designation as an U.S. "critical mineral", and a wave momentum-driven purchasing. Spot silver is up over 150% in the past year, outpacing gold by more than 70%. How does silver trade? Over?THE Counter London is the largest marketplace for physical gold and silver, where banks and brokers take orders from customers around the globe to buy and sell. The trading is done over the counter bilaterally between financial institutions. An investor must be in a relationship to one of them to gain access to the market. Bars of bullion are stored in vaults at large banks like JPMorgan and HSBC. London vaults will hold 27,187 tons of silver by the end of 2025. Tons of silver. Futures Silver is also traded on futures markets. Shanghai Futures Exchange and CME Group COMEX are the two largest exchanges. Futures contracts are agreements where the seller promises to deliver silver at a future date. They are usually traded via a broker. The majority of futures are swapped for later-dated contracts. Both the buyer and the seller can speculate on the price of silver without having to move and store metal. Futures also offer the advantage that you don't have to pay the entire amount of silver. Instead, you only need to pay a fraction, called a margin. ETFs (Exchange Traded Funds) ETFs are traded on stock exchanges like the NYSE and LSE along with shares of publicly traded companies. Each share of the fund represents a certain amount of silver in a vault. Robinhood, for example, allows small investors to trade ETFs with ease. Silver is added to the vault when the demand for an ETF exceeds the price of the underlying metal. This allows new shares to become available, bringing the prices back in line. The iShares Silver Trust, managed by BlackRock, contains?around 530 million ounces silver, worth $39 billion today. BARS AND COINS Silver bars and coins are also available to smaller investors from retailers all over the world. SILVER MINERS Investors can buy shares of companies that mine for silver. These are also easily traded on platforms such as Robinhood. The value of these shares is affected by many factors, including the management, debt, and performance of the companies. Reporting by Anmol Chaubey from Bengaluru
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LG Energy Solution cancels battery order worth 3.9 trillion won with Freudenberg
In a Friday regulatory filing, LG Energy Solution, a South Korean battery manufacturer (LGES), announced that it had canceled a contract worth 3.9 trillion won ($2.7 billion). LG Energy Solution announced that it had mutually agreed to terminate its contract with Freudenberg Battery Power Systems after Freudenberg scrapped its plans for its battery business. This announcement comes just a week after Ford Motor terminated a battery supply deal worth 9.6 trillion won. Ford announced that it would "take a $19.5-billion write-down" and scrap several electric vehicle models. This is a dramatic example how the auto industry has retreated from battery-powered vehicles in response to Trump's administration policies and the weakening demand for EVs. Ford alone will cause LGES to lose more than half its revenue of 25.62 trillion won last year, or 13.5 trillion won, in just 10 days. LGES announced on Wednesday that it is selling a factory and assets in Ohio, U.S. to Honda Development and Manufacturing of America. The sale will improve the joint venture's operational efficiency.
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Sources say that Russia has almost doubled its LPG exports this year to Central Asia and Afghanistan.
Industry sources have told? Industry sources told?Einen on Friday that Russia had almost doubled its exports of liquefied petroleum gas to ex-Soviet republics in Central Asia and Afghanistan from January to November. The total was 1.016 million metric tons. Moscow had to divert LPG supplies from Europe. Europe imposed restrictions on LPG imports from Russia after the war in Ukraine. LPG is used primarily as a fuel for cars and heating, but also to produce other petrochemicals. According to traders, the total LPG exports of Russia to Afghanistan and other countries in Central Asia, including Tajikistan, Kazakhstan, Kyrgyzstan and Uzbekistan, will increase to 36% by 2024, from 19%. Afghanistan is Russia's biggest buyer of LPG in that region. In July, Russia recognized the Afghan Taliban government for the first time by accepting the credentials of the new ambassador. Sources claim that the supply of Russian LPG into the country has risen 1.5 times in the first eleven months of this year, to 418 tons. This includes the joint venture between Kazrosgaz and Kazakhstan. The traders said that the increase in Russia's LPG supply to Afghanistan was partly due to the decline of Iranian LPG, which is sanctioned by the United States. (Reporting and Editing by Saad sayeed)
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Shanghai copper reaches record highs on signs of tight supply
Shanghai copper reached a record-high on Friday on signs that the 'feedstock supply' will be tighter next year and China's plans to curb irrational expansion of copper projects. The Shanghai Futures Exchange's most active copper contract closed the daytime session up 3.6%, at 98720 yuan (US$14,083.34) per metric ton. It had earlier reached an all-time record of 99,730 dollars a ton. The contract stipulated a gain of 6% per week. The London benchmark reached a high of $12,282 Wednesday. China's top economist said that the country will tighten up its oversight of new copper projects and alumina to stop irrational investments and unplanned expansion between 2026 and 2030. Sources said that top Chinese copper smelters did not set guidance on copper concentrate processing charges for the first quarter 2026. The group has refused to set guidance for the first quarter of 2026 for the fourth consecutive time due to feedstock shortages. Investors expect two more U.S. rate cuts in 2012, leading to continued weakness of the U.S. Dollar, which is hovering near its two-month lows. Dollar-priced materials become more appealing to holders of currencies other than the dollar when the dollar is weaker. Aluminium and lead were the two most significant gains among?SHFE's base metals. Two sources said that the top aluminium producers have raised their premiums to Japanese buyers from $190 to $203 per metric ton to $210 to 225. Japan is Asia's largest importer of light metals, and the premiums it agrees to each quarter above the London Metal Exchange cash price sets the benchmark for the area. Zinc increased by 0.7% while nickel grew by 1.3%. Tin increased by 1.4%.
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ASIA GOLD-Record gold price rally in India cools Indian purchasing; China discounts are narrowed
This week, gold discounts in India reached their highest level in over six months as a relentless price rise curbed retail purchases. Meanwhile,?discounts? in China shrank sharply after reaching five-year highs last week. A jeweller in Kolkata, eastern India said: "People are in festive moods and are travelling so they're not interested in buying at these record high prices." On Friday, domestic gold prices reached a new record of 139.286 rupees (1,550.34 dollars) per 10 grams, after a rise in spot gold rates internationally. Spot gold reached a new high of $4.530.60 an ounce due to speculative buying and momentum-driven purchases, as well expectations of further U.S. interest rate cuts and increasing geopolitical tensions. This week, Indian dealers offered a discount Discounts of up to $60 per ounce, including 6% import duties and 3% sales taxes, are available compared to last week's discount of up to $37. The slowdown in the demand is intensifying as prices continue to increase. The demand is likely to be muted in the next few weeks, unless prices are significantly corrected. This was stated by a Mumbai bullion dealer at a private bank. Bullion traded in China at a discount of $15 to $30 per ounce compared to the global benchmark price The discount is down sharply from the last week, when it was up to $64, which was the biggest in over five years. Chinese discounts reached a record-high?of $87.50 by August 2020, due to the COVID-19 pandemic's impact on retail demand. Bernard Sin, Regional Director- Greater China at MKS PAMP, stated that despite a muted retail market, discounts narrowed as speculative purchases increased at record high prices amid expectations of U.S. interest rate cuts. He said that a firmer yuan was also supportive. In Singapore Gold was sold at a premium ranging between $0.50 and $3.50 per ounce. The major purchases are made on silver and not gold. "As usual, when we see gold's rise, then buy orders will come in because of 'FOMO,'" said Vergel Villesoto at Silver Bullion. In Hong Kong, gold In Japan, gold bullion is traded at a premium of $2 to par. Was sold at a discount between $6.0 and a premium of $0.5 over spot prices.
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Nornickel CEO believes that 2026 will be a profitable year for Russia
Vladimir Potanin, the CEO of Nornickel in Russia, said that he believes the conditions will be right 'in 2026' to resume dividend payments. Nornickel didn't pay dividends in 2022, 2023 or 2024 due to Western sanctions and the falling price of its main metals. It paid its last interim dividend in 2023. In recent years, Russia's metals producers have been among the worst performing stocks on the Russian stock exchange. Potanin said that the company is moving towards a positive cashflow, and will begin paying dividends in the near future, although not at the same level as before. Potanin said, "We are already planning for a positive flow of financial resources in 2026 with the goal to pay dividends." Potanin is Russia's 5th richest?businessman according to Forbes. He did not say when Nornickel might resume dividend payments. Nornickel uses free cash flow to guide dividend payments after a shareholder agreement that protected payouts expired in?2022. Nornickel, while not directly subject to sanctions, was impacted by Western measures that prompted foreign producers to refrain from buying Russian metal. They also complicated payments and limited access to Western equipment. This led the company to redirect its sales to Asia. (Written by Anastasia Teterevleva, Gleb Bryanski and edited by Christian Schmollinger & Thomas Derpinghaus).
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Due to lower demand and stockpiles, iron ore prices end the week lower.
Iron ore futures rose on Friday after China announced it would continue its export licensing plan, but they 'ended the week lower due to a rise in inventories and a decrease in demand. The most-traded contract for May iron ore on China's Dalian Commodity Exchange(DCE) rose 0.71% to 783 yuan ($111.74) per metric ton. The contract was 0.06% less than the previous week. As of 0711 GMT, the benchmark January iron ore price on the Singapore Exchange dropped 0.62% to $1004.7 per ton. China announced on Friday that from 2026 until 2030, it will continue to regulate the production of?crude iron and steel and prevent any illegal additions to capacity. The move comes after Japan Iron and Steel Federation chairman Tadashi imai stated on Thursday that the licensing scheme would not be a very effective measure to address these issues. Japan, which is the world's second-largest steel exporter, has criticised Chinese firms that receive government subsidies, which encourage overproduction and low priced exports. This worsens global market conditions. Since mid-2021, China's property markets, which were once the world's largest steel consumers, have been in a constant decline, with falling home prices and shrinking sales. On December 12, the country announced?a licensing system aimed at regulating exports of iron and steel to stabilize prices. SteelHome data shows that total iron ore stocks?across Chinese port cities increased 2.26% in a week to 148.8 millions tons as of December 26. Mysteel, a consultancy, reported that inventories of five major carbon steel products held in Chinese steel?mills had declined to 14.5 millions tonnes by December 25. This is the lowest level since late January. Coking coal and coke, which are used to make steel, also fell in price, by 1.02% and 1.22% respectively. The Shanghai Futures Exchange saw a decline in most steel benchmarks. The rebar fell by 0.42%. Hot-rolled coils dropped 0.06%. Stainless steel remained the same. Wire rod dropped 1.29%. $1 = 7.0072 Chinese yuan (Reporting and editing by Sonia Cheema, Ronojoy Mazumdar).
Spain's flood disaster was its worst in current history. Here's what failed.
The water was currently kneehigh on the ground flooring of the hotel where Aitana Puchal had actually taken refugee when she got a text alert from the regional federal government of Valencia at 8 pm on Oct. 29 warning individuals to shelter in location from severe flash floods.
We could have done with (the warning) about six hours earlier, said the 23-year-old, who had actually fled with other regional citizens and visitors to the very first flooring of the hotel near the town of Paiporta. We were all relaxing down a little from the panic and drying our feet.
Others were not so fortunate.
Carlos Martinez, another Paiporta local, told local television the flood alert came when he was stranded in a tree seeing bodies floating past.
Dozens of residents of flooded communities told Reuters that by the time they got the regional federal government's alert, muddy water was already surrounding their automobiles, submerging streets of their towns and pouring into their homes.
After days of storm cautions from the national weather condition service considering that Oct 25, some towns and regional organizations had raised the alarm much previously. Valencia University had actually informed its personnel the day before not to come to work. Numerous town halls throughout the area of eastern Spain had actually suspended activities, closed down public facilities and told people to stay at home. But the combined messages and confusion cost lives, lots of regional locals and experts told Reuters. More than 220 individuals passed away and nearly 80 are still missing in what is the most deadly deluge in a single European nation considering that 1967, when floods in Portugal killed around 500. The national weather service AEMET had actually raised its hazard level for heavy rains to a red alert at 7.36 am on Oct 29, following heavy rains in mountainous locations west of the city of Valencia from the morning. In the 12 hours it considered the regional government's shelter-in-place order to come through, waters running through the usually dry Poyo gorge - the epicentre of the flooding - had risen to more than three times the circulation of Spain's biggest river.
As climate change worsens weather condition patterns along Spain's. Mediterranean coast, floods are becoming prevalent and some. previous incidents have actually been deadly. But after a minimum of five. decades without a significant catastrophe, lots of people in Valencia. were unaware of the grave risks postured by flash flooding or how. to react.
Puchal, the 23-year old who sought haven in the hotel, stated. she had actually never ever gotten much info about the dangers of. floods.
At school, they offered talks about fires, she said. However not. floods.. That, integrated with poor coordination amongst regional and. nationwide authorities as well as political decisions taken years. ago not to buy waterways infrastructure, intensified the. calamitous loss of life, 7 specialists sought advice from . stated.
It was foreseeable that we would have disastrous flooding. here, stated Felix Frances, professor of hydraulic engineering. and environment at Valencia Polytechnic University. Deaths were taped in 14 of the 24 towns that had currently been. recognized in environment ministry reports as at high risk of. flooding, a Reuters review discovered.
Specialists including hydraulic and civil engineers, geologists,. urban organizers and disaster relief specialists said succeeding. failures - to carry out flood mitigation deal with close-by rivers,. better protect homes constructed on flood plains, educate people and. warn locals quickly - added to the deaths.
With much better facilities, those deaths would have been. definitely less, said Luis Bañon, an engineer and teacher of. Transport Engineering and Facilities at the University. of Alicante.
One main federal government source stated they expect numerous. judicial queries to take a look at choices made and to attribute. responsibility for the high death toll.
As more of the world's population settles on flood plains,. environment occasions end up being more extreme and Europe warms faster than. the international average, what occurred in Valencia highlights the. need for strategic, coordinated procedures to safeguard individuals in. European cities, stated Sergio Palencia, teacher of urbanization. in Valencia Polytechnic University. Frances said he had assisted prepare a strategy 17 years ago to develop. flood works for the Poyo ravine at a cost then of 150 million. euros ($ 162 million). On Nov. 5, a week after the floods, the. nationwide federal government earmarked 10.6 billion euros to assist. victims.
The plan Frances dealt with ended in 2017 since no work. had been started, Spain's State Secretary for the Environment. Hugo Moran told Reuters. The federal government had to start from. scratch and some works are underway, he stated.
Frances said some people were so unaware of the danger they. didn't know, for example, that it would be ill-advised to decrease to. a basement to save the automobile.
SEVERAL ALERTS
AEMET
had actually currently alerted
of a storm understood locally as DANA-- a high-altitude. separated anxiety-- on Oct. 25. In following days, its. cautions ended up being more specific till Oct. 29, when the alert was. upgraded to red-- the highest level, meaning high threats for the. population.
At 8.45 am, the local branch of AEMET posted video on. the social media platform X showing cars and trucks being swept down roads. by a tide of brown water.
Simply after noon, the public body managing the area's river. basins, the Júcar Hydrographic Confederation (CHJ) emailed. regional authorities saying the flow of water through the Poyo. ravine had reached 264 cubic meters per second. That's stronger. than the average flow of the Guadalquivir river, one of Spain's. biggest.
The CHJ said it can only feed the info to regional. emergency situation services, which are responsible for issuing signals to. residents. 3 experts informed Reuters that when water started. increasing, it would take less than nine hours to reach the towns. Over the next eight hours, authorities from the regional and. nationwide federal governments, environmental authorities and emergency. services exchanged call, emails and held emergency situation. meetings.
For some time that afternoon, the information from the CHJ. suggested the flow was decreasing. Carlos Mazon, the region's president and the primary individual. responsible for issuing a shelter-in-place alert, has become a. focus for anger over authorities' response to the storm. Regardless of. indications of serious flooding, he did not change his schedule.
At a news conference at lunchtime, he mentioned a national. weather report saying the storm's strength would reduce. around 6pm, according to a tweet he later deleted.
As the day went on Mazon, a member of the conservative. Individuals's Celebration that beings in opposition to the Socialist-run. nationwide government, appeared in photos tweeted by his personnel. getting a sustainable tourist certification, and discussing. budgetary matters.
His office did not react to ask for discuss his. handling of the disaster. Mazon told press reporters on Thursday that. he had a work lunch on Oct 29 and was constantly in touch with. his team handling the situation.
At 5pm, as the authorities met again, the CHJ gave spoken. notice of a generalised boost in water streams running. through or near the towns, according to a statement.
At 6.43 pm, CHJ sent out another email warning that the flow of. water through the ravine had reached 1,686 cubic metres per. 2nd-- more than triple the pace of the Ebro, Spain's biggest. river.
Twelve minutes later on, the CHJ stated the Poyo circulation had increased. to 2,282 cubic meters per 2nd before ruining the sensor. that determined it.
That could fill an Olympic pool every second, said Nahum. Mendez, a geologist at Valencia University.
By 7pm, many towns were without power, making it difficult. to send out alerts right away to phones or radio stations,. authorities stated.
Maria Isabel Albalat, the mayor of Paiporta, which lies in. the outskirts of the city of Valencia, said she called the. nationwide federal government delegate in the area to tell her that my. town was flooding and individuals were currently passing away. Police drove. through the town with sirens, lights and speakers informing. people to stay off the bridge and leave the streets.
At 8 pm, Spain's environment secretary Moran, who was. taking a trip in Colombia, called the local authorities in charge. of the emergency services Salomé Pradas to say there was a danger. a dam would fail.
Pradas told local television on Thursday that a technical. consultant then recommended the services send a text alert.
How is it possible that with all the details that was. readily available ... the firms accountable for activating the alarms. not did anything? Moran stated.
Mazon, the local head, later on said the CHJ data revealing. water streams decreasing had actually contributed to the confusion and hold-ups. Moran, whose department supervises the CHJ, told Reuters its task. was just to provide real time details to emergency groups,. not to make decisions on their response.
Paiporta mayor Albalat stated that by the time the alert came,. we had actually depended on our necks in water for more than an hour and. a half.
FLOOD PROTECTIONS. Political choices to not invest earlier in better flood. defences to protect a broader location have actually multiplied the financial. expense by 200, said Bañon, the Alicante professor.
This type of works aren't hot, do not provide political. profitability till something occurs, he stated.
Now they have no option but to undertake the works.
In other nations such as the United States and Japan,. natural disasters are more commonplace so people have a much better. sense of how to respond, stated María Jesus Romero, 50, Teacher. of Urban Preparation Law at the Polytechnical University of. Valencia. Some Valencia residents remembered previous floods, consisting of a. major one in 1957. After that, the city of Valencia was. secured by hydraulic works finished under dictator General. Francisco Franco in 1973.
Paiporta citizens Rosario Masia, 84, and her other half. Cristóbal Martínez, 87, said past floods were nothing compared. with this one.
We had a hard time, but not like now, stated Masia. We are. in pieces.
Lots of homes struck by the floods were constructed before 2003. when modified assistance on building in flood zones was provided,. experts said. The new assistance either bans construction or. includes stringent pre-requisites consisting of that properties constructed. in flood zones ought to not have basements.
In the mainly working-class suburban areas of Valencia, the car is. important to get to work. Many of those talked to in. the flood zone said their first move when it rains is to move. their cars out of underground parking lot of their home. blocks so the engines aren't damaged by flooding.
(source: Reuters)