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Lammy, UK's Lammy, says that Britain and the Philippines are committed to rules-based orders
David Lammy, British Foreign Minister, said that Britain and the Philippines are committed to an international order based on rules. Lammy, on an official visit to the Philippines, said that both countries had stood together, supporting Ukraine, and promoting a free, open Indo-Pacific. Lammy and his Philippine counterpart said at a press conference that they were charting a course for their relationship in the face of global instability. They also emphasized that it was important to strengthen ties with other like-minded countries, such as the Philippines. The Philippines and Britain have signed a framework agreement for enhanced cooperation in multiple areas including defence, regional safety, and climate change, opening the door to deeper collaboration when it comes to addressing challenges and opportunities shared by both countries. Lammy and Philippine Secretary of Foreign Affairs Enrique Manalo both signed the agreement, and both highlighted their commitments to expanding economic ties in the Indo-Pacific and promoting regional stability. "We are countries committed to international law." We are a country that is committed to the rule-based order. "We are countries who take our obligations under UN Charter seriously," Lammy stated. Manalo, for his part, expressed the appreciation of his country to Britain's "firm commitment to a free and peaceful Indo-Pacific Region," and added that both nations had agreed to continue participating and exchanging in joint military exercise. Manalo stated, "We are pleased with the United Kingdom's Indo-Pacific strategy towards a more deliberate engagement within the region including the Philippines." In the face of rising tensions and confrontations between China and the Philippines in the South China Sea, the Philippines is expanding its security partnerships. It has also maintained its longstanding alliance with the United States.
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Russian Kirishi refinery damaged by debris in Ukrainian drone attack
The governor of Leningrad, a region in the northwestern part of Russia, said that a tank at the Kirishi oil refining plant, one of Russia's biggest, was damaged during an aerial attack by Ukraine. Surgutneftegaz's Kirishinefteorgsintez (KINEF) refinery is one of the top two refineries in Russia. According to industry sources, it refines approximately 17.7 million tonnes of Russian crude per year (355, 000 barrels per day). Alexander Drozdenko said that the governor of Leningrad Region, Alexander Drozdenko on Telegram, "Air defences destroyed one drone as it approached, and the other was destroyed on the territory of enterprise." He said that the external structure of a tank was damaged when the debris fell. He said that no one was hurt. It was not immediately apparent the extent of damage at the refinery. Surgutneftegaz - one of Russia's largest oil companies - and Ukraine have not yet commented. Kirishi refinery is responsible for producing 2.3 million tonnes of gasoline or 5.3% of the total amount of fuel in Russia. According to industry sources, it also produces 7.6% percent of the country's fuel oil, 16.3% percent of its diesel fuel and 3.4% percent of its aviation fuel. According to the Russian defence ministry, 31 Ukrainian drones have been destroyed in Russia. This includes 26 drones that were destroyed in Krasnodar. (Editing by Himani Sakar)
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MOL’s Green Hydrogen Production Vessel Makes First Onshore Delivery
Mitsui O.S.K. Lines (MOL) has announced that green hydrogen produced from offshore wind using the demonstration yacht Winz Maru was supplied onshore in the central breakwater area of Tokyo, as part of the Wind Hunter Project.This marks the first time in the world that a ship has supplied green hydrogen, produced on its own while underway, for use on shore, according to MOL.Between FY 2021 and FY2 023, MOL conducted a demonstration test in Omura Bay in Sasebo City with the Winz Maru, successfully completing all phases of hydrogen production, storage and usage of stored hydrogen onboard.Since, MOL has focused on supplying domestically produced green hydrogen from the Winz Maru in Tokyo Bay to onshore facilities.The Winz Maru simplifies handling and transportation of hydrogen, a difficult process for hydrogen gas, by converting produced green hydrogen to methylcyclohexane (MCH) onboard the vessel in Tokyo Bay.To ensure sufficient supply, MOL has modified the MCH tanks and added turbine generators to the vessel.In addition, safety measures have been taken in light of rougher sea conditions in Tokyo Bay, compared to Omura Bay.MOL plans to continue its green hydrogen production activities in Tokyo Bay, producing about 100 Nm3 of hydrogen, or the equivalent of about 200 liters of MCH, in FY 2025, while at the same time supplying electricity to a trailer home and other facilities in the central breakwater area of Tokyo.MOL is also working on supplying hydrogen and studying a large demonstration vessel for the Wind Hunter.“Assuming that the hydrogen value chain will be established domestically in the future, we aim to construct and commercialize a large demonstration vessel as early as the 2030s,” MOL said in a statement.
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Stocks, yields edge higher; Powell says economy still in good place
Stock indexes rose Friday, after Federal Reserve chair Jerome Powell stated that the U.S. economic situation is still good and it remains unclear if Trump's tariff plans are inflationary. Meanwhile, U.S. Treasury yields on 10-year bonds also increased. Stocks and Treasury yields fell earlier in the morning after data revealed that the U.S. economy had created fewer jobs last month than expected, adding to recent concerns about economic growth. The Federal Reserve's rate-cutting expectations were boosted by the jobs report. According to the closely followed employment report, nonfarm payrolls increased in February by 151,000, while unemployment edged up. The report was the first to be released under Donald Trump. It came after a week that saw confusion about U.S. Trade Policy and global borrowing costs. Powell's remarks came after Trump delayed and then imposed 25% tariffs against major trading partners Mexico, and Canada. The levies are still scheduled to take effect in early April. Other tariffs could also be on the way. Adam Sarhan, CEO of 50 Park Investments, New York, said that the economy was holding up despite the recent stock market sell-offs. He added that a bounce after the recent oversold condition is long overdue. S&P 500 registered its largest weekly percentage drop since September on Friday, while the Nasdaq confirmed on Thursday a correction defined as a decline of at least 10% since December's peak, due to tariffs announced by Trump that have fuelled investor uncertainty. LSEG data shows that traders increased their expectations after the release of the employment data. They expect the central bank to lower borrowing rates in June. Brian Jacobsen is the chief economist of Annex Wealth Management. He said, "The market has reverted to pricing three rate reductions in 2025." The yield of the benchmark 10-year Treasury bill in the United States rose by 3.8 basis points to 4.32%. The 10-year yield has risen about 9 basis points this week and is on course to end a five-week decline streak. After the largest two-day drop in Bunds in the past 40 years, the sharp selling of euro zone government bonds ceased on Friday. This was due to Germany's plans for a complete rewrite of its fiscal rules. The benchmark yield for the Eurozone, Germany's 10-year bonds, fell 5.5 basis points to 2.83%. The biggest weekly percentage increase in the euro against the U.S. Dollar since 2009 was recorded. The dollar index was up by 0.51% for the day, lastly at $1.0838. The dollar index fell 0.32% to 103.86. Wall Street saw the Dow Jones Industrial Average rise 222.64, or 0.5%, to 42.801.72, while the S&P 500 rose 31.68, or 0.5%, to 5.770.20, and the Nasdaq Composite gained 126.97, or 0.7%, to 18.196.22. The MSCI index of global stocks rose by 1.72 points or 0.20% to 852.10. The pan-European STOXX 600 ended the day down 0.5%. The STOXX 600 fell 0.7% in the past week, ending a winning streak of 10 sessions, its longest since 2024. Bitcoin dropped 3.31%, to $86,514.78. Trump signed an executive directive to create a strategic reserve for cryptocurrency tokens owned by the federal government. This disappointed some investors who had expected a firm plan of buying new tokens. U.S. crude oil rose 68 cents, settling at $67.04 per barrel. Brent climbed by 90 cents, settling at $70.36.
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Brazil soy prices shoot up after US tariffs on China
The premium for soybeans paid in Brazil compared to the futures contracts traded on the Chicago Board of Trade increased 70% this week. This reflects the impact of the trade war between the U.S. Cepea, a closely monitored indicator, shows that the premium for soybean exports at the Port of Paranagua reached 85 cents per bushel in March. This is the highest since 2022 when compared to previous years' shipment data in the same month. Last week the premium per bushel was 50 cents. Cepea says that the worsening trade war between the United States of America and China is responsible for the increased demand for Brazilian soya beans. Analysts predict that China will turn to Brazil to obtain additional supplies of corn, soybeans, cotton, and meat following the announcement of U.S. Tariffs against China. As exports of Brazilian grains increase, the costs for meatpacking and grain buyers in Brazil will tend to increase, they said. According to data released by the grain exporters' lobby Anec, 79% of Brazilian soya bean exports were shipped to China in January and February. This compares to 75% during the same period the previous year. The exporter group stated that the increase reflects the shift in Chinese demand towards Brazilian soybeans to the detriment U.S. products over the past few weeks. (Reporting and writing by Roberto Samora; editing by David Gregorio).
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Investors react to Powell's comments by increasing stocks and yields
The stock indexes rose on Friday, after Federal Reserve chair Jerome Powell stated that it is still unclear if Trump's tariffs will be inflationary. Yields for 10-year Treasury bonds also increased. Stocks and Treasury yields fell earlier in the morning after data revealed that the U.S. economy had created fewer jobs last month than expected, adding to recent concerns about economic growth. The Federal Reserve's rate-cutting expectations were boosted by the jobs report. The euro is on course for its best weekly performance since 2009. The last time it was up 0.54% versus the U.S. Dollar at $1.0841. According to the closely followed employment report, nonfarm payrolls increased in February by 151,000, while unemployment edged up. The report was the first to be released under Donald Trump. It came after a week that saw confusion about U.S. Trade Policy and global borrowing costs. Powell's remarks came after Trump delayed and then imposed 25% tariffs against major trading partners Mexico, and Canada. The levies are still scheduled to take effect in early April. Other tariffs could also be on the way. Adam Sarhan is the chief executive of 50 Park Investments, a New York-based investment firm. "Powell has made it clear that he will stay focused on his goal, and this is what he should do," he said. He said that after the recent sharp sell-off in stocks, a "oversold bounce" is long overdue. The Nasdaq confirmed on Thursday that it has experienced a correction of at least 10% since December's peak, due to the uncertainty created by Trump's tariffs. LSEG data shows that traders increased their expectations after the release of the employment data. They expect the central bank to lower borrowing rates in June. Brian Jacobsen is the chief economist of Annex Wealth Management. He said, "The market has reverted to pricing three rate reductions in 2025." After the largest two-day drop in Bunds in the Euro Zone since the 1970s, the sharp selling of euro zone government bond has ceased on Friday. This is due to Germany's plans for a complete rewrite of its fiscal rules. Germany's benchmark 10-year bond rate, which is the benchmark for the Euro Zone bloc, fell 5.5 basis points to 2.83%. The yield on the benchmark U.S. 10 year notes increased 3.6 basis points from 4.282% to 4.32% by late Thursday. The Dow Jones Industrial Average rose by 164.85, or 0.39 percent, to 42.745.47. The S&P 500 gained 21.42, or 0.37 percent, to 5,760.02, and the Nasdaq Composite increased 95.56, or 0.53% to 18,164.82. The MSCI index of global stocks rose by 0.27 points or 0.03% to 850.65. The pan-European STOXX 600 ended the day down 0.5%. The STOXX 600 fell 0.7% in the past week, ending a winning streak of 10 sessions, its longest since 2024. Bitcoin dropped 1.82% to $88,848.96. Trump signed an executive directive to create a strategic reserve for cryptocurrency tokens owned by the federal government. This disappointed some investors who hoped to see a plan to purchase new tokens. U.S. crude oil rose 68 cents, settling at $67.04 per barrel. Brent rose 90 cents, settling at $70.36. (Reporting and editing by Alex Richardson; Additional reporting by Tom Wilson, Rae Wee, and Chuck Mikolajczak, in London; and Deepa Babington, Hugh Lawson and Chris Reese, in New York)
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As Syrian forces try to crush the Alawite Insurgency, scores of people are killed
The Syrian security forces fought for a second straight day to suppress a new insurgency led by Alawite fighters loyal to Bashar al-Assad. Scores of people were reported dead as the islamist-led government was facing its biggest challenge to date. The Syrian Observatory for Human Rights has reported that over 180 people have been killed during two days of violence along the coast of western Syria. This area is heavily populated with members of the Alawite minority. The Observatory and two Alawite activist cited contacts in the area and video footage of the scene to confirm that at least 20 male residents of Al Mukhtareyah, an Alawite village, were killed by gunmen Friday. The violence in Syria began on Thursday when remnants loyalists to the ousted leader Assad attacked their forces with a well-planned and deadly attack. The violence has shaken the efforts of interim president Ahmed al-Sharaa to consolidate his control, as his administration struggles with getting U.S. Sanctions lifted and deals with wider security issues, particularly in southwest Syria, where Israel says it will stop Damascus deploying troops. The oil-rich northeastern part of the country is also outside state control. It's held by an American-backed Kurdish group. On Friday, Syrians rallied in the streets to support the government of Damascus as well as other cities. Saudi Arabia and Turkey - both allies of government - also expressed their support, and the U.N. Envoy in Syria was alarm by the violence and deaths, including civilians. Russia , which had been a major supporter of Assad, but sought to establish ties with the newly formed government, has called on all the "respected leaders" of the country, to stop the violence. , formerly Assad’s closest ally said that it “strongly opposes violence, insecurity, killing and harming Syrians of all groups and tribes." Al Mukhtareyah's images showed 20 men, some of them bloodied, lying close together by a roadside in the centre of the town. The location of the video was confirmed, but the date and who filmed it were not. Alawite activists, speaking under condition of anonymity attributed the deaths to gunmen associated with the Islamist ruling authority. Citing a source in the security sector, the Syrian state news agency SANA said that "individual violations had been committed" after the unorganized crowds headed for the coastal area following the attacks against government security personnel. Source: "We're working to stop these violations," source says. According to two Alawite source, a prominent Alawite Sheikh Shabaan, aged 86, and his son were killed in the village Sahlab, in western Syria. Residents in the village of Sahlab accused fighters aligned to Damascus for killing them. CURFEWS On Thursday, violence escalated when authorities reported that groups of Assad-aligned militias attacked security patrols and checking points in the Jableh region and surrounding countryside before spreading. Moussa Al-Omar, an influential Syrian media figure who is close to the new leadership of the country, said that the newly formed security forces of Syria had deployed tens and thousands of fighters to the coast as part of the operation, and the order was largely restored by Friday night. He said that the crackdown "is a message to anyone living in the south and east of Syria, that the state is capable of a violent resolution at any moment even while it seeks peace solutions." SANA reported that curfews had been declared in Tartous, Latakia and other coastal cities on Friday. SANA reported that security forces conducted combing operations both in the cities and nearby mountains. Alawite activist say that their community is being attacked and violently attacked, especially in rural Homs, and Latakia since Assad's overthrow in December, after decades of repressive rule by his family and civil war. Unlike other minorities, Sharaa, who has promised to govern Syria in a way that is inclusive, has not announced any meetings with senior Alawite leaders. RISK OF ESCALATION The chaos and paroxysm of violence will undermine both foreign countries and Syrians' confidence in the government, and its ability for it to lead Syria out of this challenging phase," said Joshua Landis. He is the head of the Center for Middle East Studies of the University of Oklahoma. The Alawite Islamic Council is a group of Alawite clerics who blamed the violence in Syria on the government. They claimed that fighters were sent to the coast under the pretext to "fight against'regime remains'" to terrorise Syrians and kill them. The group called for the area to be placed under U.N. security. Saudi Arabia condemned the "crimes" committed by terrorist groups in Syria, including their attacks on security forces. The Turkish government, which is a close ally to the new Syrian government, has also expressed its support for Damascus. It said, "The tensions in and around Latakia as well as the targeting security forces could undermine efforts to lead Syria forward in unity and solidarity." Reporting by the Damascus Bureau; Additional reporting by Hatem Mahar in Cairo, Tala RAMADAN in Dubai, Suleiman Al-Khalidi, in Amman, Timour AZHARI and Tom Perry in Beirut, and Tuvan GUMRUKCU and Huseyin HAYATSEVE in Ankara. Writing by Tom Perry. Editing by Timothy Heritage. Aidan Lewis. Angus MacSwan. Mark Porter.
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In Guayaquil, 22 people are killed in gang violence
Authorities said that Friday, nearly 20 people were killed in a fight between two factions of the same gang fighting for territory in Ecuador's biggest city Guayaquil. Local police chief Pablo Davila said that gun battles erupted in Nueva Prosperina's northern neighborhood on Thursday afternoon, between members of the criminal group Los Tiguerones. Davila stated that "criminals killed each other yesterday in certain parts of the town." The problem is they all know each other and where they live. They're fighting to control that territory. In response, the police launched a massive offensive. They conducted around 200 searches while seizing weapons and ammunition. In the area, 14 people were arrested, including 2 minors. According to the authorities, several of those arrested and killed had criminal records. Charges ranged from robbery, to drug trafficking. In recent weeks, the government has intensified its response to drug trafficking gangs in Ecuador's most volatile regions as part of President Daniel Noboa’s war against them. The government considers the Tiguerones gang and other gangs to be terrorist organizations. Noboa has stated that military and police officers can respond to violence in Guayaquil without fear of punishment for using a heavy-handed approach. He wrote: "Defend your country, and I will defend you." (Reporting and writing by Alexandra Valencia, Julia Symmes Cobb, Editing by Tomasz Janowski and Hugh Lawson).
Pensioner waiting at missile attack site for bodies of presumed dead family members
Ihor Yavorskyi, a Ukrainian pensioner who served in the military, spent the entire day on Saturday at the scene of a Russian missile strike to find out what he assumed was inevitable -- the bodies of his three family members that he believed were killed.
Yavorskyi (61), along with other worried residents, stood alongside rubble, in Poltava, a city located in central Ukraine. The residents of Poltava waited patiently while emergency crews removed the bodies of the victims from a part of the apartment block that was reduced to rubble by the attack.
He would rush over to the crews bringing bodies on stretchers and examine them. The bodies recovered to date do not include those of Dmytro (37), Alyona (38), or Sofia (9 years old).
Yavorskyi stated, "My son and daughter-in law are both here." They've all been killed, the three of them. "Within a second."
Yavorskyi assumed the worst. Yavorskyi, a veteran of the military, was assuming the worst.
He quickly checked a new victim that was being brought out. "No, it's not this one," he replied. "That's a senior citizen." It's him."
Crews scrambled up and down huge piles of smouldering debris and twisted metal to reach him. The cranes moved slabs of concrete to make it easier for rescuers.
Yavorskyi lost his patience, dressed in a simple raincoat of green and a woollen cap to protect him from the cold and damp.
He said that Russian President Vladimir Putin had one goal since the collapse of the Soviet Union, in 1991: to destroy Ukraine, his great country.
"I want Putin and all of Russia to die together." All of them will be hated for the next 100 years. He will not stop. "Not until he destroys the entire Ukraine." (Reporting and Editing by Serhiy Karzy, Ron Popeski, Diane Craft, and Diane Craft.)
(source: Reuters)