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Six Palestinians are killed by Palestinian gunmen at a Jerusalem bus stop
On Monday, two Palestinian gunmen opened up at a bus station on the outskirts Jerusalem and killed six people. Police described the attack as "a terror attack," which was one of the most deadly in recent years. Dashboard camera footage from the scene shows people running away from a bus parked on the side of the road. Shots can be heard. A video from the scene showed bullet holes in a bus's windows and windscreen. "Suddenly, I heard the shots start..." Ester Lugasi told Israeli TV that she felt as if she had been running for an eternity. "I thought I would die." Ambulance service identified five victims: a man aged 50, a woman aged in her fifties, and three men aged in their 30s. The ambulance service said that 11 people were injured, six of whom had gunshot injuries and were in serious condition. Gideon Saar, the Israeli Foreign Minister, said that a sixth victim had died. He also confirmed that the gunmen are Palestinians living in the Israeli-occupied West Bank. Hamas, a Palestinian militant group, praised the two Palestinian "resistance" fighters it claimed were responsible for the attack. However, it did not claim responsibility. Islamic Jihad is another Palestinian militant group that praised the shooting. Benjamin Netanyahu, speaking at the site of the attack said that Israeli forces were pursuing those who assisted them. Israeli police reported that two attackers arrived in a car and fired at a Ramot Junction bus stop. Police said they recovered several weapons, ammunition, and a knife from the scene. After the shooting, footage showed that there was a large police presence in Ramot. A paramedic who arrived at the scene told the ambulance service that there were several victims lying on the street and sidewalk. Some of them were unconscious. Israeli military has said that it has deployed soldiers in the area to assist police in their search for suspects. It said that soldiers were also deployed in Ramallah, West Bank, to "thwart terror" and conduct interrogations. In Tel Aviv, in October 2024, armed with knives and guns, two Palestinians killed seven people. Two Palestinian gunmen murdered three people in November 2023 at a Jerusalem stop bus. Israeli security services claimed that the attackers of the 2023 Jerusalem shooting had Hamas ties. Reporting by Rami Amitay, Maayan Lulbell, Alexander Cornwell, Ahmed Elimam, and Jana Choukeir, in Jerusalem; Editing and production by Gareth Jones, Ros Russell, and Ros Jones.
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India's top refiner claims that Russia's oil spot supply is normal
Anuj Jain is the head of finance for Indian Oil Corp, India's largest refiner. He said that spot supplies of Russian oil have not changed. Barrels are still trading at a $2-$3 discount per barrel in Dubai, and will be delivered to Indian ports. India, which is the world's largest purchaser of Russian crude oil, has benefited from discounts on Russian production as Europe and the U.S. shun Russian oil due to Moscow's invasion of Ukraine in 2022. Washington has pressured India into stopping buying Russian oil by imposing heavy tariffs on Indian exports. However, Prime Minister Narendra Modi has stated that the government will continue to buy Moscow's crude because it is economically viable. IOC, the state-run oil company, buys Russian crude from traders on a delivery basis. According to LSEG trade flow, the loading of Russian oil to India in August almost halved from 1.34 million barrels per day in July to 686.850 barrels per daily. The August loading of Russian crude oil for India was low, as refiners stopped purchases after discounts shrank. "We never stopped (buying Russian crude). Jain said that we are already planning to buy for November and October. He said that IOC must reduce its imports of Russian crude oil due to the high inventories. We wanted to optimize our inventory as well. Jain explained in Hindi that this was one of the major factors. (Reporting and writing by Mohi Naira in Singapore, Nidhh Verma, Editing by Sonali Pau)
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Analyst: Ukraine imports diesel fuel of Indian origin after losing a key refinery
Analysts said that the loss of Ukrainian oil refining facilities this summer forced traders to import diesel fuel, even from India. India imports a large portion of its crude from Russia. Russia has been trying to win the war against Ukraine by using drones and missiles to attack Ukrainian fuel storage and refineries. Ukraine has used similar tactics to defend itself, but neither side is transparent about the extent and severity of damage. Serhiy K. Kuyun, a fuel consultant from Ukraine, said on Facebook that the Kremenchug oil refining plant (which) had been hit by dozens of ballistic and cruise missiles was destroyed in June. The market was rushing to purchase what was available. India was the only option. We don't transport it, international traders transport it to Turkey and Romania. And we buy what is already there," he said. He said that Indian fuel met post-Soviet standards, including Ukrainian ones, and claimed some of it had been purchased by Ukraine's defence ministry, who never comment on fuel purchases. He didn't specify the import volumes, but said that Indian diesel had an unexpected market share of around 10%. Before the war with Russia began in 2022 and the full-scale conflict, Ukraine imported diesel fuel from Belarus and Russia mainly to compensate for its lack of production. Since 2022, Ukraine has imported diesel fuel primarily from European countries. A-95 reported that the imports of diesel fell 13% on an annual basis in the first six months of this year to 2.74 millions metric tons. (Reporting and editing by Kevin Liffey; Pavel Polityuk)
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State TV reports that one person has died in Nepal during protests against the social media ban
State TV reported that one person was killed when the Nepali police used tear gas and rubber balls to disperse youths who attempted to break into Parliament during a Monday protest against a social-media shutdown and an alleged government of corruption. Last week, Nepal blocked several social media platforms including Facebook after users failed to register their accounts with the authorities as part of a crackdown against misuse. According to the government, social media users who have fake IDs spread hate speech and fake stories and commit fraud and other crimes on some platforms. The authorities imposed a curfew on the area around the Parliament building after thousands tried to break through a barricade of police and enter the legislative chamber. Nepal Television, the state-run broadcaster, reported that one person died and 50 others were injured. Local media reported at least six deaths. The death and injury figures could not be independently verified. A witness reported that several protesters were taken to nearby hospitals after being injured. They added that a group of protesters had stopped a vehicle headed towards the parliament, and an ambulance had been set blaze. Ekram Giri, the spokesperson for Nepal's Parliament, stated that some protesters had entered the premises of the parliament but didn't make it to its main building. He said that the police had driven them out and they were now gathered on the road. Muktiram Rjal, spokesperson for the Kathmandu District Office, said: "We've imposed a curfew that will remain in effect until 10 p.m. local (1615 GMT), to bring the situation into control after the protesters started to become violent." Rijal stated that the police had been ordered to use batons, water cannons and rubber-bullets to control the crowd. Rijal stated that the curfew was extended to Kathmandu’s Singha Durbar, including the Prime Minister’s Office, other ministries, as well as the residence of both the Prime Minister and President, as well as the residence for the Prime Minster. Protests in other cities The police said that similar protests had also been organised in Biratnagar, Bharatpur, and Pokhara in western Nepal, the gateway to Mount Annapurna - the 10th highest peak in the world. On Monday morning, police stopped thousands of students and youths from marching to the parliament, where protests are prohibited. As they marched in Kathmandu, protesters carried placards and the national flag with slogans like "Stop corruption and not social networks", "Unban Social Media", and "Youths Against Corruption". On television, protesters were seen throwing projectiles towards police officers in riot gear who huddled together in a single spot as tear gas filled the streets. The protesters also knocked down police barricades. The government of Prime minister K.P. Opponents have criticised Sharma Oli for not delivering on his promises. The social media shutdown in Nepal comes at a time when governments around the world, including those of the U.S.A., EU and Brazil, as well as China, India and Australia, are taking steps to tighten their oversight over social media and Big Tech, due to concerns about misinformation, privacy, harm online and national security. Critics claim that many of these restrictions stifle free speech, while regulators insist that stricter controls are necessary to protect users and maintain social order. Nepal has 30 million internet users. Reporting by Gopal Singh, Writing by YPrajesh and Editing by Helen Popper & Saad Sayeed
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Rosatom prepares to issue bonds in yuan currency in China
The Russian state nuclear company Rosatom is planning to issue bonds in yuan currency in China, a spokesperson for the company said on Monday. The spokesperson did not provide any further information. The announcement by Rosatom comes after Russian President Vladimir Putin visited China last week and called for a joint financial infrastructure between countries in the "Global South". Alexei Likhachev, Rosatom's chief executive officer On the sidelines the four-day trip, the Russian giant said that it was willing to help China surpass the United States when it comes to installed nuclear generation capacity. Likhachev stated that Russia has helped China build four nuclear reactors and is currently building four others. China also needs a lot of uranium for its ambitious plans. Atomenergoprom, Rosatom's main power unit Atomenergoprom, said that it received a "AAA" credit rating from China's Dagong Global Credit Rating Agency in April. The agency also rated the unit as "stable". Ilya Rebrov, Rosatom's Chief Finance Officer, told an August corporate publication that the Rosatom Supervisory Board had approved the influx of foreign funding. Rebrov said that "work is underway to prepare Atomenergoprom for the issue of bonds in Chinese Yuan." Earlier Monday, another Chinese credit rating agency CSCI Pengyuan You can also find out more about the following: On Friday, China gave its highest AAA credit rating to the Russian oil and gas company Gazprom GAZP.MM that was blacklisted by the United States. This opened up China's bond market for debt issuance. The second largest bond market in the world, China, is a great opportunity for Russian companies that are cut off from Western funding due to sanctions. The "AAA' rating for Gazprom was given just days after Russia, China and other countries gave their blessing to the Power of Siberia 2 gas pipeline. This massive project links the two countries in an effort to reduce economic dependence on the West. (Reporting Anastasia Lyrchikova; writing by Gleb Brianski; editing Guy Faulconbridge).
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Gold surpasses $3,600 as traders consider Fed rate-cut betting
Gold prices reached a new record high on Sunday, surpassing a crucial $3,600 mark after weak U.S. employment data fueled expectations that the U.S. Federal Reserve would cut interest rates at its next meeting. As of 0841 GMT, spot gold was up by 0.7% to $3,612.20 per ounce. Bullion reached a new record high earlier in the day of $3,616.64. Bullion prices have risen 37% this year, adding to a gain of 27% in 2024. This is due to a weaker US dollar, central bank purchases, a softer monetary policy, as well as geopolitical, economic, and political uncertainty. The price of U.S. Gold Futures for December Delivery remained unchanged at $3.653.10. Data showed that U.S. employment growth was weaker than expected in August. The unemployment rate also increased to nearly a four-year high, at 4.3%. This confirms the softening of labor market conditions and supports a Fed rate reduction next week. Rate cut bets are increasing demand for gold. The overall geopolitical situation is uncertain. We should also consider that central banks are buying ,",", said Carlo alberto De Casa. According to CME FedWatch, traders have priced in 90% of the possibility that there will be a 25-bp reduction this month. Lower interest rates reduce the opportunity costs of holding non-yielding gold and weigh down on the dollar. This makes gold more affordable for investors who hold other currencies. Giovanni Staunovo, analyst at UBS, said: "We expect gold to reach $3700/oz in mid-next year." The benchmark 10-year U.S. Treasury rates, on the other hand, are nearing their lowest levels in five months. The Fed will now focus on the U.S. Inflation report due Thursday. This could provide more clarity about the size of its expected rate cut. StoneX analyst Rhona o'Connell said that CTA activity "was an aid to the continued momentum of gold." In the week ending September 2, gold speculators increased their net long positions to 168.862 contracts, an increase of 20,740 contracts. Silver spot rose 0.3%, to $41.08 an ounce. Palladium rose 1.3% and platinum 1.6%, respectively, to $1124.24.
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Swedish budget cuts income and electricity taxes
Sweden's right-wing coalition government announced Monday that it would be cutting taxes by around 30 billion crowns (about $3.2 billion), primarily for income tax, in order to boost household economic growth. Elisabeth Svantesson, the Finance Minister, told a press briefing that the coalition government supported by the Sweden Democrats had agreed to allocate approximately 21 billion crowns (about $3.2 billion) for income tax and pension tax cuts and around 6 billion crowns (about $6 billion) for electricity tax reductions as part of these measures. Svantesson stated that "this is a massive injection in the Swedish economy". The uncertainty surrounding the impact of U.S. Tariffs has caused Sweden's growth to stagnate this year, despite rate reductions. The budget is intended to help households and the economy as a whole. The bill for 2026 - a year with general elections - is due in the parliament on 22 September. The government has announced other measures that will boost the households' incomes in this budget, which is Sweden's largest since the COVID-19 epidemic. These include a temporary food tax cut.
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RWE secures 3.2 billion Euros in grid financing from Apollo Investor
RWE announced on Monday that Apollo Global Management has agreed to provide 3.2 billion euro ($3.75 billion), resulting from its 25,1% stake in German transmission systems operator Amprion, for future upgrades of the power grid. In a press release, RWE Power said that partners would create a joint-venture to acquire RWE's Amprion stake to finance future growth. Apollo will make its equity investment up front and RWE will then reinvest in Amprion via the JV, to support Amprion's grid expansion. To keep up with renewable energy growth and help the German electricity grid transition from fossil fuels, the German electricity grid requires large investments. Amprion, the Dutch government's subsidiary Tennet Germany, is also looking for investors to help cover its investment needs. Amprion committed in April to increasing investments in its network to 36.4 billion euro in five years up to 2029. This is a 32.4% rise from the previous five-year rolling plan until 2028. Amprion, along with three other companies, manages Germany's electricity grids. They rely on the fees charged by private and corporate users of power to generate revenue. The regulatory framework requires upgrades to power lines and equipment. Apollo and the companies did not reveal what percentage of joint ventures Apollo will take. Amprion announced in a separate press release that the M31 Investor Group would continue to own the remaining 74.9% of Amprion. Apollo stated that the JV would provide "reliable and steady dividend returns through Amprion's regulated assets base". RWE stated that the deal will help them focus on their core activities, which include power generation, renewables and batteries, as well as energy trading. RWE will still be able to consolidate Amprion's stake into its financial statements. The transaction is expected close in the fourth-quarter of 2025. Reporting by Tom Kaeckenhoff, Ludwig Burger and Friederike Heine. Editing by Kevin Liffey and Friederike Liffey.
Cyprus President says that Cyprus is in talks with UAE about a European submarine cable project
Cyprus approached the United Arab Emirates to discuss possible collaboration on an EU-financed submarine power cable connecting Europe to the Eastern Mediterranean region. It said Monday that it was reaffirming their commitment to this project.
Last Thursday, European prosecutors announced that they have launched an investigation to determine if criminal offenses may be committed in relation to the cable project to connect Greece to Cyprus and then to Israel. The three countries all support this project despite its delays.
"To give just one example of this commitment, myself and my foreign minister went to the United Arab Emirates," Cypriot president Nikos Christodoulides said after comments made by Greek prime minister KyriakosMitsotakis on Saturday urging Cyprus clarify its position.
"I met the president of the nation precisely to discuss this matter and to examine the possibility of a partnership to invest in areas related to this particular project."
Christodoulides has not commented on the European investigation that was announced last week.
The cable was built by Greek transmission company IPTO. It took over the project from a Cyprus operator who had worked on it for around a decade.
The project promoters claim that the cable would be the longest high-voltage link in the world at 1,240 km (775,5 miles), and the deepest at 3,000 meters.
Cyprus has sought clarifications about the total cost, viability of the project and the liability for any unforeseen delays. Reporting by Michele Kambas Editing David Goodman
(source: Reuters)