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Holcim sells Philippines unit to Huaxin for $807 million
Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines operations to Huaxin Building Materials of China in a deal worth at least $807,000,000. Holcim is selling an initial 68% stake at $527 million. The remainder will be sold in the following three to five year period for a price minimum of $280million. Holcim stated that this would result in an overall valuation $807 million. However, the figure may rise "based upon incremental value creation over?this time period". This sale is Holcim's largest divestment, since the $1 billion deal it made with Huaxin Cement in December 2024, when they sold their Nigeria business. The money raised from the sale of the Philippines' business will be used for large acquisitions as well as?further investments in Holcim’s existing business. The 'Swiss firm has focused more on Europe and Latin America as well as North Africa and Australia in its reshaping of its business. Holcim has identified acquisitions as an important part of its growth strategy. The company plans to make 15 deals by 2026. Holcim said last year that it had between $3.72 billion and $4.95 billion Swiss Francs to spend on acquisitions until 2030. It could also raise an additional?6 billion Swiss Francs through divestments, extra borrowings for large deals, and share buybacks. Holcim CEO Miljan Gutovic said on Friday that the company has a "very strong pipeline" of projects for acquisitions in Latin America, Europe, as well as parts of Asia, Middle East, and Africa. He also stated that they were considering large deals. He said that the company was constantly evaluating its landscape from walling, flooring and roofing solution companies to the larger markets. Gutovic said: "I am confident that we will have a powerful momentum on the M&A side in the second half this year."
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Israeli strikes kill 9 in Gaza; Israeli minister says there is no deal to stop attacks
Israeli airstrikes in Gaza continued for a second day in a row on Sunday. At least nine Palestinians were killed, despite U.S. president Donald Trump's?announcement that a breakthrough had been made in efforts to implement the Gaza ceasefire accord of last year. Israeli Energy Minister Eli Cohen stated on Sunday that no agreement had been reached to stop the attacks on Gaza. He also said that Israel, which controls over 70% of Gaza, should take control of Gaza in its entirety. Cohen is a minister in the security cabinet of Prime Minister Netanyahu, a group of ministers who oversee security and diplomatic policies. Palestinian health officials confirmed that Israeli warplanes conducted separate strikes in different parts of the Gaza City enclave, including the central city of Deir al-Balah and the southern area Khan Younis. According to medics, a man and his spouse were killed, and four others were injured, in an airstrike that hit an apartment in Deir al-Balah. Two more people including a child were also killed in another strike in Gaza City. Around dawn, a father, mother and their nine-year-old child were killed after a strike was made on a home in the Mawasi neighborhood of Khan Younis. A second person was also killed in northern Gaza, near Jabalia. Israeli military claimed that the attacks in Deir al-Balah targeted two Hamas commanders from its elite "Nukhba force". The Gaza City and Jabalia attacks also targeted "military operators" but the military said it was still reviewing the situation. Since the ceasefire in October, Israeli airstrikes have killed at least 1,230 Palestinians. Trump said that there was a breakthrough on Thursday after Hamas agreed disarming under an initiative backed by the United States to implement a ceasefire agreement signed last year in Egypt. Trump's Board of Peace is the U.S. body that oversees the ceasefire. They published a 15 point roadmap on Friday, outlining the final steps to implement the agreement. ROADMAP YET TO BE ?IMPLEMENTED The roadmap is still not implemented. Hamas said that it would only hand over weapons to be stored after Israel ceases military operations, and withdraws its troops in accordance with the agreement of last year. A senior Israeli official said that the military would not be able to leave its current positions until Hamas underwent "genuine dearmament". Cohen, speaking to Army Radio, said he didn't believe that Hamas would disarm but rather try and hide its weapons. Itamar Bin-Gvir, the National Security Minister of Israel, has described it as 'inacceptable' and stated that Israel should continue to assassinate Hamas leaders. Mohammed Dahlan, a former senior Fatah official based in the United Arab Emirates said on Facebook that Jared Kushner was Trump's son in law and a senior advisor involved in the U.S. Initiative. He had told him Jared Kushner would be working with the Israeli side in order to stop the attacks against Gaza. Dahlan said that contacts were being maintained with the U.S. to ensure the agreement is fully implemented. He added that the success of the agreement now depends on Israel ending its daily attacks against Gaza. The U.S. State Department has been contacted for comment regarding Dahlan's remarks. Israel did not immediately comment. Reporting by Nidal al-Mughrabi in Cairo, Hatem Maher and Steven Scheer. Editing by Rod Nickel & Alex Richardson
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Governors claim that Ukrainian drones have killed two people in Russia and struck a Wildberries warehouse.
Officials in the region said that Ukrainian drone strikes had killed two people overnight. The targets included a warehouse owned by 'Wildberries', Russia's biggest online retailer. The Russian Defence Ministry reported that it had shot down 635 Ukrainian drones in the middle of the night. Samara Governor Vyacheslav Federishchev confirmed that drones from Kyiv attacked a Wildberries storage facility in the Samara area, about 800 km (500 mi) away from Ukraine's advanced military positions. The governor said that there were no injuries and that the fire, which had started as a result, was being extinguished. Ukrainian forces are expanding their strikes against economic and energy targets in Russia, aiming to weaken Moscow's capacity to continue its more than four-year old war in Ukraine. Since July 18, they have attacked around a dozen Wildberries websites in an attempt to disrupt operations. The company is often referred to as Russia's Amazon. Roman Busargin, the governor of Engels said that a strike on a building in the neighboring Saratov region killed two people. He said that civil infrastructure had been damaged in both the city of Saratov and Engels. Saratov, the city that hosts a major refinery of oil, as well as Engels, the home to a military base, have both been repeatedly attacked by Ukraine in recent years. Radiy Khabirov said that the air defence units of the Bashkortostan region in?Russia had foiled a massive drone assault?on industrial installations. He said that one of 'the drones' was shot down over the industrial area in the regional capital Ufa, and a fire is being extinguished.
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Holcim sells Philippines unit to Huaxin for $807 million
Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines business to China’s Huaxin Building Materials. The deal could generate at least $807 million. Holcim is selling a 68% initial stake at $527 million. The remainder will be sold in the next 3 to 5 years for $290 million. Holcim stated that the total valuation would be $807 million. However, this figure could increase "based on incremental values created during?this time period". The money raised will be used for?large acquisitions as well as further investments in Holcim’s existing business. After spinning off their North American operations last year, the Swiss company is reshaping its business and focusing more on Europe, Latin America. North Africa, and Australia. Holcim has identified acquisitions as a critical part of its growth strategy. The company plans to close 15 deals by 2026. Holcim said last year that it has 3 to 4 billion Swiss Francs ($3.72 to $4.95billion) available to spend on acquisitions until 2030. It could also raise an additional 6 billion Swiss?francs through divestments, extra borrowing and share buybacks. Holcim CEO Miljan Gutovic said on Friday that the company had a "very good pipeline" of projects for acquisitions in Latin America, Europe, Middle East, Africa and parts of Asia. He also stated that large deals were being considered. He told analysts that the company was constantly screening its landscape. "From walling and flooring solutions companies to roofing, we believe that there are some attractive markets," he said after the second-quarter results. Gutovic said: "I am confident that the M&A market will be?in a good place in the second half this year." ($1 = 0.8074 Swiss Francs) (Reporting from John Revill in Zurich, and Sumedha mukherjee in Bengaluru. Editing by Kate Mayberry & Joe Bavier).
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Sources say that OPEC+ will increase its quota in September, followed by a pause.
OPEC+ 'plans to approve a quota for production increase of around 188,000?"barrels a day" on Sunday. After that, it will halt further increases in output, according to sources, until the voluntary cuts are completed. Saudi Arabia, Russia and Kuwait are the core members of OPEC+. They have been increasing their monthly production quotas since most of this year. These increases are largely a paper exercise, due to the disruptions caused by the wars in Ukraine and Iran. One OPEC+ 'delegate' and an OPEC+'source, both of whom said that the group would pause production increases after September as it faces difficult discussions over new production quotas. The September increase will complete a phased rollback on a 1,65 million bpd cut in supply originally agreed upon in 2023 when?the group included the United Arab Emirates which left OPEC last May. OPEC+ has been reviewing the oil production capacities of its members to determine quotas for 2027. After September, OPEC+ 'cuts' will continue to be in effect for a period of approximately?2 millions barrels per day until 2022 when the group decides on how to distribute extra?supply to its members. Iraq and other members of the group are pushing for higher quotas that reflect their increased capacity. Reporting by Alex Lawler and Ahmad Ghaddar, Writing by Dmitry Zhdannikov, Editing by Joe Bavier
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Governors claim that Ukrainian drones have killed two people in Russia and struck a Wildberries warehouse.
Officials in the region said that Ukrainian drones killed two people overnight in regions along Russia's Volga river. The strikes hit targets such as a warehouse owned by Wildberries, Russia’s largest online retailer. The Russian Defence Ministry reported that it had shot down 635 Ukrainian drones in the night. Kyiv's drones targeted a Wildberries warehouse located in the Samara Region, approximately 800 km (500 mi) away from Ukraine's "most advanced military positions" on Ukrainian territory, according to regional governor?Vyacheslav Federishchev. He said that the information about potential casualties is still being clarified. Ukrainian forces are launching more strikes inside Russia, as they intensify their attacks on energy and economic targets. They hope to weaken Moscow's ability to wage its four-year long war in Ukraine. Since July 18, they have targeted about a dozen Wildberries websites in an attempt to disrupt operations. The company is a key component of Russia's consumer economy, often described as Amazon's Russian answer. Roman Busargin, the governor of Engels said that a strike on a building in the nearby Saratov region killed two people. Both in Engels and in Saratov's city, civil infrastructure was damaged. Saratov, the home of a major refinery and Engels, which is a military airbase, were both repeatedly attacked by Ukraine in recent years. Ukraine has not yet commented on the recent strikes.
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Evacuations are required after fires in Washington State that cover more than 250,000 acres.
State officials reported on Saturday night that wildfires covering more than a quarter million acres of Washington state have caused widespread evacuations in the Spokane area and caused power outages. Dave Upthegrove said that more than a dozen fires were burning in the'state. On Saturday morning, Governor Bob Ferguson issued a burn ban and declared an emergency in the state. Officials said that at this time, they were unaware of any injuries or deaths related to the fire. Spokane is home to 230,000 people in eastern Washington. The Old Trails Fire has been active for 3,000 acres, and threatens 4,000 buildings, according to Washington State Forester George Geissler. Mayor Lisa Brown confirmed that some major Spokane facilities have been evacuated. These include water reclamation plants, a waste energy plant, and the Department of Veterans Affairs Hospital. About 200 homes had been evacuated in Spokane as of 3:30 pm (2230 GMT) but officials expect that number to change. Brown said: "These are huge areas of the city, so I expect it will be more than 200 homes." Stacey McClain, of Washington State Emergency Management Division, said that?60,000 people in eastern Washington were without electricity. Ferguson stated that the multiple fires in the state would be a serious problem. He noted that the high winds and temperatures over the weekend will make it more difficult to fight the fires. Upthegrove stated that Washington State has burned about 450,000 acres this summer. This is not normal. "We're seeing fires raging throughout the state of Washington," he said. Geissler said that the fire in Spokane was one of five major complex fires in Washington. Kaiser Canyon Fire, located in the northeastern corner of the state, is the largest, covering approximately 134,000 acres. This summer, wildfires have caused problems in many parts of the Pacific Northwest. Last month, nearly 34,000 lightning strikes led to a series of fires in southern British Columbia. Washington officials stated that firefighters from over a dozen different states, in addition to the National Guard are also helping. "It is a tragedy that we are seeing over there," said Major Gen. Gent Welsh, the?adjutant-general of Washington National Guard. "When the sun goes down and rises again in the morning, we will be shocked to see the scenes that have emerged." (Reporting and editing by Kenrick Non; Kenrick Cai)
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Iran threatens to attack other nations' energy field if US launches new attacks
Iran warned this weekend against "adventurous actions" by the U.S. and said it would retaliate if American forces follow through on President Donald Trump’s threats to launch fresh attacks on Iranian target. Abbas Araqchi, the Iranian Foreign Minister, made his comments on Saturday in separate telephone calls with senior Turkish officials and Saudi officials. This was just hours after Kuwaiti army claimed to have destroyed Iranian drones that had attacked vital facilities. Araqchi, speaking to Pakistani Army Chief Field Marshall Asim Munir, and Turkish Foreign Ministry Hakan Fidan on Telegram, said Iran would react decisively to "aggressions" and discussed consequences of U.S. "destabilizing action" as well as prospects for?increased regional insecurity. Araqchi told Saudi Foreign Minister, Prince Faisal bin Farhan, that the U.S. or Israel would face a "proportionate" response if they attacked. Nournews, an outlet of Iran's top national security agency, stated on Saturday that U.S. strikes on Iranian energy infrastructure will prompt Iranian?strikes against oil fields in Saudi Arabia, the United Arab Emirates and Israel. It also said, "all?will be?burned to ashes". Trump told his cabinet on Friday at Camp David that he still believed U.S. negotiators including Jared Kushner and Steve Witkoff, as well as Secretary of State Marco Rubio could reach an agreement with Iran. Trump said that he had lost faith in Iran, saying "They break their words so often." This is a charge Tehran has made against Washington on many occasions. He also stated that he would "hit them." STRAIT of HORMUZ Since U.S. forces and Israeli forces began the war on Iran with strikes on February 28, oil prices have remained high. Trump has claimed that the stated goal of preventing Iran from acquiring nuclear weapons is justified by higher fuel prices in the short term. However, the economic pain has placed political pressure on Trump to find a solution to the conflict. Benchmark Brent crude prices rose by 24% in July, and according to analysts polled at, they expect the price of oil to continue rising this year. Since the beginning of the conflict, the threat of Iranian attacks has slowed down most shipping through the Strait of Hormuz. This is an important conduit for energy supplies around the world. It's sent shockwaves throughout the global economy. The Kuwaiti Army reported that a government facility located in northern Kuwait, and a civilian property owned by a company located on Bubiyan Island were both hit Saturday. Falling shrapnel caused material damage, but there were no injuries. Add to the 'energy industry's worries, Iran's Houthi ally in Yemen has recently begun threatening Bab el-Mandeb - the strait on the opposite side of the Red Sea, from the Suez Canal - another route for Saudi 'crude' oil exports. United Kingdom Maritime Trade Operations announced on Saturday that it had received reports about two maritime incidents near Oman. One of them involved a tanker being struck by an unknown object which damaged the engine room. The master of the tanker in the second incident reported seeing an explosion and a large splash close to his vessel. However, no damage was reported.
INSIGHT-Offshore wind challengers in Australia, Europe lean on US groups for recommendations
Costs Thompson's. battle to stop overseas wind farms was once confined to the small. U.S. state of Rhode Island where he lives. Today, he is part of. a worldwide movement.
In April, Thompson, who is director of the activist group. Green Oceans, got an e-mail from a fellow anti-offshore wind. group more than 10,000 miles (16,000 km) away called Accountable. Future?( Illawarra Chapter). They were searching for guidance on methods. to fight projects off Australia's southeast coast. In August,. he got another demand, this time from French group PIEBIEM. fighting jobs in Brittany.
It's constantly good to know that other people are thinking the. very same method you are, he informed Reuters.
These groups are amongst a dozen or more local activist. companies across the U.S., Europe and Australia who told. Reuters they have started sharing methods, talking points and. other resources in their typical mission to hinder offshore wind. -- an advancement they hope will transform what was as soon as a. disorganized scattering of regional activists into a significantly. sophisticated worldwide network.
Numerous anti-offshore wind groups said they think. federal governments and wind developers, such as Orsted,. Avangrid and Shell, are minimizing the. ecological damage triggered by tasks as they promote the. renewable energy source as an option to environment change.
In most cases, the groups are wanting to anti-offshore wind. activists on the U.S. East Coast for suggestions, citing their years. of success in slowing or cutting the size of significant jobs,. deteriorating public support for the technology, and winning over. conservative politicians like previous President Donald Trump,. whose administration had actually supported offshore wind, today. opposes it virulently as the Republican presidential candidate.
Offshore wind is a nascent market in the U.S. and a secret. pillar of President Joe Biden's plan to fight climate modification. However, plans to install turbines along every U.S. shoreline. have been challenged by skyrocketing costs and supply chain snags and. attracted multiple suits over concerns about the industry's. influence on tourism, property worths, fishing and marine environments.
Reuters reporting reveals how the groups' international cooperation. provides a fresh difficulty to the market as it permits brand-new. opposition groups to quickly take advantage of years of work done by. others. Oftentimes, it also assists to propagate viral,. politically effective, but sometimes false talking points,. consisting of that turbines eliminate threatened whales and not do anything to. sluggish global warming.
It's a substantial problem, and I do not think the industry has actually got. its head around A, what's occurring, and B, what to do about. it, Ben Backwell, CEO of the Worldwide Wind Energy Council, a. Lisbon-based market trade group, said.
Opposition groups say they are just starting.
We wish to go further, for example with joint. statements, and a better media effect, to alert public. opinion, stated Eric Sartori, secretary of PIEBIEM, which in. French mean Maintaining the Environmental Identity of. Southern Brittany and the Islands versus Offshore Wind.
A U.S. West Coast group told Reuters this month it is. starting a national anti-offshore wind company. Other. groups, including Responsible Future (Illawarra Chapter), said. they have actually gone over forming an international coalition, specifically as. the rest of the world steps up attempting to overtake China,. Britain and Germany, the top manufacturers of offshore wind energy.
NURTURED ONLINE
Sartori of PIEBIEM said he initially got in touch with Green Oceans and. another group in Nantucket after seeing images of damaged wind. turbine blades cleaning ashore in Massachusetts this summertime on. social networks platform X.
Sartori said Green Oceans' Thompson helped, consisting of by. supplying him a quote from a U.S. federal government agency recommending. offshore wind has no environment benefit.
That quote - it is prepared for there will be no cumulative. impact on global warming as an outcome of overseas wind jobs. - now appears on PIEBIEM's website next to photos of fiberglass. fragments cluttering Nantucket's coast.
The Bureau of Ocean Energy Management informed Reuters the quote. belonged to an ecological analysis of a job, which the. second half of the sentence - not present on PIEBIEM's website -. says wind jobs may beneficially add to a wider. mix of actions to minimize future effects from environment. change.
BOEM regularly mentions in its environmental evaluations that wind. power will not change the course of global warming by itself. however can help when combined with other actions.
In other groups, posts vary from hesitation about whether. wind turbines can make it through high winds to worries they will obstruct. ocean views. The most viral, however, is that overseas wind. development threatens whales.
That claim caught fire in the U.S. in early 2023 after. a number of New Jersey and New York groups blamed the industry for a. spate of whale deaths and caught the attention of conservative. media.
The claim is now repeated by challengers around the world,. including in France and Australia.
The U.S. federal government states the claim has no merit, and links. most human-caused whale deaths to vessel strikes and. entanglement in fishing equipment.
A clean energy trade group, American Clean Power. Association, stated it is resolving opposition by working to. communicate the benefits of offshore wind, such as financial. development and energy self-reliance.
False information weakens trust, cultivates confusion, and. divides communities at a time we need more American energy, a. spokesperson for ACP stated.
SPECIALIST SUPPORT
Green Oceans has actually enlisted the assistance of Spanish marine. biologist Josep Lloret, who has actually raised concerns about the. prospective environmental harms of offshore wind in the. Mediterranean Sea, and hosted a talk by Texas-based reporter. Robert Bryce who is skeptical of the renewable energy. transition.
Other groups piggy-back off their work.
Green Oceans ... the charm of them is they have scientists. behind them, so we might look at the documents they are saying are. factual and identify they are peer examined, stated Jenny. Cullen, president of Australia's Responsible Future (Illawarra. Chapter).
It wasn't Charlie down the road using ChatGPT to pull up. BS.
The techniques are currently helping turn an industry that. received little opposition during its early days in Europe. decades ago into a political hot potato.
In New Jersey, where opposition to overseas wind is perhaps. more powerful than in any other U.S. state, support for the industry. stood at 50% late in 2015 from 80% 4 years previously,. according to a poll by Stockton University.
Trump has actually also signed up with the movement, guaranteeing to halt. offshore wind projects if he recovers the presidency in. November.
His administration several years earlier had actually promoted offshore. wind as a part of his America First agenda, and held a record. offshore wind government auction in 2018.
Trump's project did not react to ask for comment.
In Australia, which is a new target for overseas wind. developers, the primary opposition party has actually likewise swung behind the. motion, and public opposition has been growing-- reaching 18%. in September, from 12% a year previously, according to polls from. Freshwater Technique.
In France, meanwhile, a Senate committee in July recommended. cuts to the nation's overseas wind target, arguing the. innovation is pricey and does not have maturity. The nuclear. powerhouse is currently lagging its neighbours on renewable resource. and has fallen back targets set by the European Commission.
In tandem with their successes, groups opposed to offshore. wind have been dogged by allegations they are backed by. conservative interests connected to the nonrenewable fuel source market.
A 2023 study by researchers at Brown University mapped links. in between U.S. groups and conservative think tanks, consisting of a. case in which the Delaware-based Caesar Rodney Institute. supported a claim to block the Vineyard Wind task submitted by. a Nantucket group, ACK4Whales.
Amy DiSibio, a board member of ACK4Whales, said her group is. not partisan and has actually distanced itself from the pro-fossil fuel. believe tank. A New Jersey group, Secure Our Coast NJ, stated the. same.
It takes away from our message, Robin Shaffer, president. of Protect Our Coast NJ, stated in an interview.
(source: Reuters)