Sources say China's Norinco sweetens its bid for Congo copper mining as the deal stalls.
China North Industries Corp., also known as Norinco has offered to increase the Congo government stake in its bid to purchase copper and cobalt assets from Chemaf SA to help smooth the way to a deal. The $1.4 billion offer made by China's defence and industrial giant, in June, stalled when Congo state miner Gecamines put forward its own unsolicited proposal for the Chemaf asset. This exacerbated a standoff that was already complicated by U.S. officials who were lobbying against China’s grip on central Africa’s mineral-rich Copperbelt.
In the shadow of tariffs, Europe's markets can benefit from a ceasefire in Ukraine
The markets have bet that a ceasefire agreement between Russia and Ukraine will ease the pressure on energy and euro prices, and also reduce the impact of increased U.S. tensions. Meanwhile, expectations about defence spending has already sent stocks in this sector soaring. Marco Rubio, Secretary of State, arrived in Saudi Arabia Monday to discuss with Russian officials. President Donald Trump ordered U.S. officials last week to start talks about ending the war. The talks are not expected to include either Ukraine or European nations.
KNDS to buy German defence equipment manufacturer Alstom
The companies announced on Wednesday that Alstom, a French train manufacturer, has agreed to sell the Gorlitz plant located in Germany to KNDS (a German defence equipment maker). In a joint press release, KNDS said that it will begin using the plant in this year to manufacture assemblies for the Leopard 2 Battle Tank, the Puma Infantry Fighting Vehicle and variants of Boxer Wheeled Armoured Vehicle. Depending on the progress of the project, the production of double-decker trams and trains by Alstom in Gorlitz may continue…
Russell: China's impact on US energy trade is minimal at first.
China responded to the tariffs imposed by President Donald Trump with its own measures, effectively killing off trade between the United States in crude oil and liquefied gas as well as coal. China, which is the largest importer of these three commodities in the world, imposed import duties on Tuesday of 15% for U.S. coal and LNG, and 10% for crude oil and farm machinery. Beijing made its move after the Trump Administration imposed an extra 10% tariff on all Chinese imports into the United States.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The European Union leaders decided on Monday that they would do more to strengthen their defences and capabilities against Russia and other potential threats. They will increase their spending and close gaps in their military capability. EUROPEAN UNION/UNITED NATIONS: After a meeting on Monday with other EU leaders, German Chancellor Olaf…
Saudi Arabian STC wants a seat on Telefonica's board
STC Group will apply for a seat in Telefonica's Board, the U.S. regulator of markets was informed by the Saudi Arabian company six days after Telefonica unexpectedly replaced the chief executive. STC informed the U.S. Securities and Exchange Commission on Thursday that it owned 9.97% in Telefonica and planned to "engage in discussions with issuers to seek a seat on the board". A request for a comment from Telefonica regarding its American Depositary Receipts in the U.S. was not immediately responded to.
Ukraine looks for investment in Davos to recover from the recession as Trump calls for peace
While U.S. president Donald Trump called for an end to the three-year war and Ukraine's President discussed peacekeeping forces, Ukrainian officials courted private investors to help rebuild their country this week. Oleksiy Sbolev is the first deputy minister of economy. He described a $500-billion reconstruction project that would bring both financial and strategic dividends to Western Investors, while Kyiv intensifies its privatisation plans in order to attract foreign investment.
Trump's complaint about the trade deficit with EU and what could come next
Donald Trump, President of the United StatesTrump has pledged to reduce a long-standing trade deficit between the United States and the European Union. He says he will do this by imposing tariffs, or forcing the EU to buy more U.S. gas and oil. In a memo entitled "America First Trade Policy", issued by Trump on his first day in the White House, he directed the Commerce and Treasury Departments and the U.S. Trade Rep to investigate the goods trade deficit and recommend measures before April.
Russia launches new missiles at Ukraine and targets its gas infrastructure
Russia has launched another barrage of drones and missiles against Ukraine, this time targeting the gas infrastructure in western regions. This is the latest attack on Ukraine's crippled power system just as winter approaches. Volodymyr Zelenskiy, the president of Ukraine, said that Russian forces used over 70 drones and 40 missiles in the morning's attack. He said that Ukrainian air defences had shot down 30 missiles or more. "Another massive Russian assault.
Nigeria and China strengthen ties through pledges on finance, security, and economic growth
Nigeria and China are planning to intensify their cooperation in areas like clean energy, finance and defence. China has pledged support for Nigeria to issue Panda bonds to fund its infrastructure. The Nigerian Foreign Ministry Yusuf Tuggar, and his Chinese counterpart Wang Yi both outlined their efforts to address the regional security challenges. Wang visited Nigeria as part a larger four-nation Africa tour, a journey that is seen as an annual effort to advance Beijing's influence on the continent.
Israel strikes port, energy targets in Yemen
Israel launched strikes against ports and energy infrastructure in Houthi-held parts of Yemen on Thursday and threatened more attacks against the Iran-aligned militant group, which has launched hundreds of missiles at Israel over the past year.As Israeli jets were in the air, the Israeli military said it intercepted a missile headed towards central Israel which destroyed a school building in Ramat Efal in the western part of Tel Aviv with what a military…
Treasury: US sanctions against North Korea and Russia include new sanctions
New sanctions imposed by the United States on Monday targeted Pyongyang’s financial activities as well as its military support for Moscow, according to the Treasury Department. The sanctions list North Korean generals, banks and officials, as well as Russian oil companies. They are the latest U.S. measures aimed at disrupting North Korea’s support for Russia’s war in Ukraine. Treasury Department released a statement naming Golden Triangle Bank and Korea Mandal Credit Bank as the North Korean banks that were targeted.
TWMA Appoints Group Commercial Director
Drilling waste management specialist, TWMA, has announced the appointment of Jonathan Parkes as its new Group Commercial Director. This strategic hire comes as the Aberdeen-based company continues to build on a period of rapid international growth and expansion.Joining the company in October 2024, Jonathan brings 20 years of commercial and strategic expertise across the energy market. His new role follows seven years at an energy, maritime and defence company…
Financial Times - Dec 2
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. The UK government will announce plans for a new council of defence industry leaders and business in an effort to enhance collaboration between Whitehall and technology companies, smaller start-ups as well as giants within the sector. The Chancellor of Duchy of Lancaster Pat McFadden denied that Keir's Starmer's plans to set…
Spain allows Saudi Arabian STC to increase its stake in Telefonica from 9.9% to a reported -
El Pais reported that the Spanish government had given green light to Saudi Arabia’s largest telecoms company, STC Group to increase its stake in Telefonica from 5% to 9.9%. A spokesperson from the Economy Ministry declined comment. STC announced last year that it was aiming to acquire a 9.9% stake in the Spanish Telecoms Company, worth approximately 2.4 billion Euros ($2.53 billion), and become a major shareholder. The Saudi group claimed at the time that it held a 4…
Poland to Boost Offshore Wind, Energy Security
Poland is planning to assign new areas for offshore wind farms in the Baltic Sea and is drafting additional measures to boost the security of its critical energy infrastructure, government officials said on Wednesday."Maritime offices will submit analyses any moment, which will give grounds to make a decision on designating new areas for offshore wind farms," Deputy Infrastructure Minister Arkadiusz Marchewka told an industry conference.Poland is boosting its offshore ambitions in the Baltic Sea…
Albanese: Australia and India will boost their cooperation in renewables and defence
Australia and India will work together to increase investment in renewable energies, such as solar manufacturing, batteries, and mineral processing. This was the announcement made by Prime Minister Anthony Albanese during a G20 meeting on the sidelines. Albanese, the Australian Minister for Defence and Maritime Security, said that Australia and India would also like to increase their defence and maritime cooperation. He made this statement during a Tuesday meeting in Rio de Janeiro with India's PM Narendra Modi.
Viaro CEO accused of forging documents in UK lawsuit to steal millions
Former employer of the CEO of an independent British Oil Producer who is purchasing North Sea assets from Shell and Exxon Mobil, is suing him for allegedly falsifying documents in order to steal substantial amounts. Court documents show that Viaro Energy's CEO Francesco Mazzagatti has been accused of involvement in the misappropriation at least of 143.8 million euro ($151.5 millions) by Singapore-based Alliance Petrochemical Investment. The suit, first reported in the Financial Times, was filed by London's High Court at the end of August.
As it roars through the Philippines, super typhoon Man Yi is expected to weaken.
The Philippines' main island, Luzon, was ravaged by the super typhoon Man Yi on Sunday. It brought heavy rain to the capital, Metro Manila. More than one million people were evacuated and buildings damaged in various areas. Weather officials reported that the storm, which had winds of 185 km/h (115mph) when it hit land in Panganiban town in Catanduanes Province on Saturday night, weakened slightly before reaching the coast of Camarines Norte by 8 am. Amalia…
India Defends Propping Up Russian Oil - Prices "would have hit the roof"
Global oil prices "would have hit the roof" if big importer India had not bought oil from Russia following the Ukraine war, India's oil minister said, adding that prices would determine where the country buys oil from.India, the world's third largest oil importer and consumer, has become the top buyer of discounted Russian sea-borne oil shunned by Western countries since Ukraine's invasion began in early 2022. Before that, India bought little oil from its long-running defence partner…
