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Yahoo
03-06-2025
- Business
- Yahoo
Second round of Ukraine-Russia talks end with PoW deal but no ceasefire
Negotiations between Ukrainian and Russian delegations in Istanbul ended without agreement on a ceasefire on Monday, but with both sides agreeing to exchange more prisoners. Ukraine's president, Volodymyr Zelenskyy, said the two sides had agreed to exchange 1,000 prisoners of war each, with the possibility of swapping an additional 200 PoWs. He said an agreement had also been made to return the remains of killed service personnel, but added that this would take careful preparation. Zelenskyy did not take part in the talks but was speaking during a visit to Lithuania, where he called for stronger sanctions on Russia if it did not agree to a ceasefire. He said his negotiators had given their Russian counterparts a list of nearly 400 abducted Ukrainian children that Kyiv wanted Moscow to return home, but that the Russian delegation agreed to work on returning only 10 of them. Ukrainian officials said that the focus of the prisoner exchange should be the wounded and sick as well as young soldiers between 18 and 25 years old. Russian officials confirmed that 'all' sick and wounded prisoners would be swapped, and that the exchange would involve at least 1,000 PoWs. Monday's negotiations took place at the Çırağan Palace, a vast 19th-century Ottoman edifice on the banks of the Bosphorus that is now a luxury hotel. In one of its expansive conference chambers, the two delegations – each about a dozen strong – sat at long tables facing each other, about 10 metres apart. The Russians all came in dark suits, while the Ukrainians were mostly in military uniform. The whole meeting took less than two hours. After the talks, Ukraine's head negotiator and defence minister, Rustem Umerov, said the return of the abducted children 'is a fundamental priority for us'. 'If Russia is genuinely committed to a peace process, the return of at least half the children on this list is positive,' Umerov said. The head of the Russian delegation, Vladimir Medinsky, confirmed only that it had received a list of 339 names of people Ukraine wanted returned, but did not comment further. The international criminal court in The Hague issued arrest warrants for Vladimir Putin and a senior aide in 2023 for the unlawful deportation of Ukrainian children. At Monday's meeting in Istanbul, Ukrainian officials said that the Russians rejected Kyiv's call for an unconditional ceasefire of at least a month, but had instead handed over a written proposal , which the Ukrainians said they would need more time to study before responding. They suggested the talks should reconvene towards the end of June. The Russian state news agency, RIA, said the Russian document proposed two options for a ceasefire, one of which would require Ukraine to begin a complete withdrawal of its troops from four of its regions occupied by Russia. RIA described the second option only as a 'package' containing a number of unspecified conditions. Turkey's president, Recep Tayyip Erdoğan, said meanwhile his government wanted to arrange a summit between Zelenskyy and Putin. 'My desire is to bring Putin and Zelenskyy together in Istanbul or Ankara – also to invite Trump to this meeting as well,' Erdogan said after a cabinet meeting in Ankara. 'We will take steps for this meeting after the latest talks.' Zelenskyy has repeatedly said he is ready to meet Putin and on Monday Umerov restated Kyiv's desire for a summit. 'We believe that all the key issues can only be solved at the level of leaders … with the possible involvement of other leaders such as the president of the United States,' the defence minister said. Heorhii Tykhyi, the Ukrainian foreign ministry spokesperson, said: 'If Putin says he is ready to meet tomorrow, our president Zelenskyy is ready to meet him tomorrow.' Last month, Zelenskyy challenged Putin to meet him in Ankara for a summit suggested by Donald Trump. However, the Russian leader did not respond and sent mid-level officials to the talks instead. Briefing reporters after Monday's talks, Medinsky said that the memorandum given to the Ukrainian delegation included proposed 'steps towards a full ceasefire'. He added that Moscow had suggested short ceasefires of two or three days at some parts of the front 'so that commanders can collect the bodies of their soldiers'. But he did not specify where Russia was proposing such local truces should take place. The Ukrainian side did not respond publicly to the proposal. Both sides stepped up their military operations before the Istanbul talks. Ukraine carried out a complex drone strike on targeting Russian bomber planes on four military airfields across Russia, as far away as Siberia. Related: Operation Spiderweb: a visual guide to Ukraine's destruction of Russian aircraft Ukrainian officials said that Sunday's remote-controlled drone operation, codename Operation Spiderweb, had been 18 months in the planning, and had succeeded in damaging or destroying 41 planes including Tu-160 and Tu-22 bombers, as well as Tu-95s used to launch cruise missiles against Ukraine. Ukrainian intelligence put the total of Russian material losses at $7bn (£5.2bn). Ukraine's prime minister, Denys Shmyhal, called it a 'very accurate military operation', adding that as long as Russia rejected a ceasefire and continued to carry out attacks on Ukrainian civilians, Ukraine could continue to develop new ways to hamper Russia's capacity to carry out missile or drone attacks. 'Innovative technologies played a really crucial role in this operation, and these technologies now are the game-changers on the battlefield. And I believe that Ukraine has many other ideas, technologies, how to move ahead,' Shmyhal told the France24 television channel. 'We are working constantly to do our best to [restrict] Russian possibility to attack Ukraine … We continue to clear our sky from Russian bombers, and we will do the same in other spheres, including on the ground.'
The Advertiser
22-05-2025
- Climate
- The Advertiser
More deaths possible as floods leave 'nowhere to go'
Tens of thousands of Australians are isolated as devastating floods spurred by intense rainfall have turned deadly. The discovery of the body of a 63-year-old man at Moto, south of Port Macquarie, was announced on Thursday morning as floods sweep NSW's mid-north coast. Police have also confirmed three people are missing. Some 50,000 people have been warned they could be isolated on Thursday amid dozens of emergency warnings. "We're bracing for more bad news in the next 24 hours," Premier Chris Minns told reporters on Thursday morning. "This natural disaster has been terrible for this community. "It's affected a wide number of people and tens of thousands of houses." He urged people to stop driving through floodwaters, with stranded drivers a key reason behind dozens of rescue requests to the SES. The NSW SES said it had responded to 1023 incidents, including 339 flood rescues, in the 24 hours to 5am. Many rescue requests in Taree, Glenthorne, Oxley Island and Moto remained outstanding. "We've seen continual rainfall and very fast flowing rivers, which when combined with flooded roads have made it very difficult to access some isolated people," SES Assistant Commissioner Colin Malone said. Kinne Ring, the mayor of Kempsey, where the Macleay River has overtopped a levee and is still rising, said she was concerned for residents and livestock. "There's just been a huge amount of rain in the last few days ... there's so much water around and nowhere to go," she told ABC Radio National on Thursday. Meteorologist Angus Hines said some weather stations had recorded 500 to 600mm for the week so far - "an incredible amount of rain". "Any time of year, anywhere around the country, that is going to cause significant flooding issues," he told ABC 24. The death in Moto, on the banks of the engorged Lansdowne River, was confirmed after emergency services were called to a flooded home about 3pm on Wednesday. The mid-north coast and Hunter regions have been the worst impacted by the flooding in recent days, with tens of thousands of people isolated and hundreds requiring rescuing. The deluge has spread to the Northern Rivers and Northern Tablelands as a slow-moving trough dumped rain along Australia's east coast. Falls between 200 and 300mm in the next 24 hours are likely and may lead to flash flooding, the Bureau of Meteorology warns, around the north coast communities of Coffs Harbour, Port Macquarie, Taree, Woolgoolga, Sawtell and Dorrigo. The bureau said the trough was expected to contract southwards on Thursday afternoon. More than 130 warnings are in place, with local residents in the path of flooding urged to head to higher ground and evacuate if they can. Evacuation centres have been set up at Dungog, Gloucester, Taree, Manning Point, Wingham, Bulahdelah, Tuncurry Beach, Kempsey and Port Macquarie. Emergency Management Minister Kristy McBain said the Commonwealth was working with the NSW government to provide support in 16 local government areas. The Insurance Council of Australia said the flooding could be catastrophic, with significant flooding in similar areas in 2022. "We are closely monitoring the severe weather across the entire state," council chief executive Andrew Hall said. Tens of thousands of Australians are isolated as devastating floods spurred by intense rainfall have turned deadly. The discovery of the body of a 63-year-old man at Moto, south of Port Macquarie, was announced on Thursday morning as floods sweep NSW's mid-north coast. Police have also confirmed three people are missing. Some 50,000 people have been warned they could be isolated on Thursday amid dozens of emergency warnings. "We're bracing for more bad news in the next 24 hours," Premier Chris Minns told reporters on Thursday morning. "This natural disaster has been terrible for this community. "It's affected a wide number of people and tens of thousands of houses." He urged people to stop driving through floodwaters, with stranded drivers a key reason behind dozens of rescue requests to the SES. The NSW SES said it had responded to 1023 incidents, including 339 flood rescues, in the 24 hours to 5am. Many rescue requests in Taree, Glenthorne, Oxley Island and Moto remained outstanding. "We've seen continual rainfall and very fast flowing rivers, which when combined with flooded roads have made it very difficult to access some isolated people," SES Assistant Commissioner Colin Malone said. Kinne Ring, the mayor of Kempsey, where the Macleay River has overtopped a levee and is still rising, said she was concerned for residents and livestock. "There's just been a huge amount of rain in the last few days ... there's so much water around and nowhere to go," she told ABC Radio National on Thursday. Meteorologist Angus Hines said some weather stations had recorded 500 to 600mm for the week so far - "an incredible amount of rain". "Any time of year, anywhere around the country, that is going to cause significant flooding issues," he told ABC 24. The death in Moto, on the banks of the engorged Lansdowne River, was confirmed after emergency services were called to a flooded home about 3pm on Wednesday. The mid-north coast and Hunter regions have been the worst impacted by the flooding in recent days, with tens of thousands of people isolated and hundreds requiring rescuing. The deluge has spread to the Northern Rivers and Northern Tablelands as a slow-moving trough dumped rain along Australia's east coast. Falls between 200 and 300mm in the next 24 hours are likely and may lead to flash flooding, the Bureau of Meteorology warns, around the north coast communities of Coffs Harbour, Port Macquarie, Taree, Woolgoolga, Sawtell and Dorrigo. The bureau said the trough was expected to contract southwards on Thursday afternoon. More than 130 warnings are in place, with local residents in the path of flooding urged to head to higher ground and evacuate if they can. Evacuation centres have been set up at Dungog, Gloucester, Taree, Manning Point, Wingham, Bulahdelah, Tuncurry Beach, Kempsey and Port Macquarie. Emergency Management Minister Kristy McBain said the Commonwealth was working with the NSW government to provide support in 16 local government areas. The Insurance Council of Australia said the flooding could be catastrophic, with significant flooding in similar areas in 2022. "We are closely monitoring the severe weather across the entire state," council chief executive Andrew Hall said. Tens of thousands of Australians are isolated as devastating floods spurred by intense rainfall have turned deadly. The discovery of the body of a 63-year-old man at Moto, south of Port Macquarie, was announced on Thursday morning as floods sweep NSW's mid-north coast. Police have also confirmed three people are missing. Some 50,000 people have been warned they could be isolated on Thursday amid dozens of emergency warnings. "We're bracing for more bad news in the next 24 hours," Premier Chris Minns told reporters on Thursday morning. "This natural disaster has been terrible for this community. "It's affected a wide number of people and tens of thousands of houses." He urged people to stop driving through floodwaters, with stranded drivers a key reason behind dozens of rescue requests to the SES. The NSW SES said it had responded to 1023 incidents, including 339 flood rescues, in the 24 hours to 5am. Many rescue requests in Taree, Glenthorne, Oxley Island and Moto remained outstanding. "We've seen continual rainfall and very fast flowing rivers, which when combined with flooded roads have made it very difficult to access some isolated people," SES Assistant Commissioner Colin Malone said. Kinne Ring, the mayor of Kempsey, where the Macleay River has overtopped a levee and is still rising, said she was concerned for residents and livestock. "There's just been a huge amount of rain in the last few days ... there's so much water around and nowhere to go," she told ABC Radio National on Thursday. Meteorologist Angus Hines said some weather stations had recorded 500 to 600mm for the week so far - "an incredible amount of rain". "Any time of year, anywhere around the country, that is going to cause significant flooding issues," he told ABC 24. The death in Moto, on the banks of the engorged Lansdowne River, was confirmed after emergency services were called to a flooded home about 3pm on Wednesday. The mid-north coast and Hunter regions have been the worst impacted by the flooding in recent days, with tens of thousands of people isolated and hundreds requiring rescuing. The deluge has spread to the Northern Rivers and Northern Tablelands as a slow-moving trough dumped rain along Australia's east coast. Falls between 200 and 300mm in the next 24 hours are likely and may lead to flash flooding, the Bureau of Meteorology warns, around the north coast communities of Coffs Harbour, Port Macquarie, Taree, Woolgoolga, Sawtell and Dorrigo. The bureau said the trough was expected to contract southwards on Thursday afternoon. More than 130 warnings are in place, with local residents in the path of flooding urged to head to higher ground and evacuate if they can. Evacuation centres have been set up at Dungog, Gloucester, Taree, Manning Point, Wingham, Bulahdelah, Tuncurry Beach, Kempsey and Port Macquarie. Emergency Management Minister Kristy McBain said the Commonwealth was working with the NSW government to provide support in 16 local government areas. The Insurance Council of Australia said the flooding could be catastrophic, with significant flooding in similar areas in 2022. "We are closely monitoring the severe weather across the entire state," council chief executive Andrew Hall said. Tens of thousands of Australians are isolated as devastating floods spurred by intense rainfall have turned deadly. The discovery of the body of a 63-year-old man at Moto, south of Port Macquarie, was announced on Thursday morning as floods sweep NSW's mid-north coast. Police have also confirmed three people are missing. Some 50,000 people have been warned they could be isolated on Thursday amid dozens of emergency warnings. "We're bracing for more bad news in the next 24 hours," Premier Chris Minns told reporters on Thursday morning. "This natural disaster has been terrible for this community. "It's affected a wide number of people and tens of thousands of houses." He urged people to stop driving through floodwaters, with stranded drivers a key reason behind dozens of rescue requests to the SES. The NSW SES said it had responded to 1023 incidents, including 339 flood rescues, in the 24 hours to 5am. Many rescue requests in Taree, Glenthorne, Oxley Island and Moto remained outstanding. "We've seen continual rainfall and very fast flowing rivers, which when combined with flooded roads have made it very difficult to access some isolated people," SES Assistant Commissioner Colin Malone said. Kinne Ring, the mayor of Kempsey, where the Macleay River has overtopped a levee and is still rising, said she was concerned for residents and livestock. "There's just been a huge amount of rain in the last few days ... there's so much water around and nowhere to go," she told ABC Radio National on Thursday. Meteorologist Angus Hines said some weather stations had recorded 500 to 600mm for the week so far - "an incredible amount of rain". "Any time of year, anywhere around the country, that is going to cause significant flooding issues," he told ABC 24. The death in Moto, on the banks of the engorged Lansdowne River, was confirmed after emergency services were called to a flooded home about 3pm on Wednesday. The mid-north coast and Hunter regions have been the worst impacted by the flooding in recent days, with tens of thousands of people isolated and hundreds requiring rescuing. The deluge has spread to the Northern Rivers and Northern Tablelands as a slow-moving trough dumped rain along Australia's east coast. Falls between 200 and 300mm in the next 24 hours are likely and may lead to flash flooding, the Bureau of Meteorology warns, around the north coast communities of Coffs Harbour, Port Macquarie, Taree, Woolgoolga, Sawtell and Dorrigo. The bureau said the trough was expected to contract southwards on Thursday afternoon. More than 130 warnings are in place, with local residents in the path of flooding urged to head to higher ground and evacuate if they can. Evacuation centres have been set up at Dungog, Gloucester, Taree, Manning Point, Wingham, Bulahdelah, Tuncurry Beach, Kempsey and Port Macquarie. Emergency Management Minister Kristy McBain said the Commonwealth was working with the NSW government to provide support in 16 local government areas. The Insurance Council of Australia said the flooding could be catastrophic, with significant flooding in similar areas in 2022. "We are closely monitoring the severe weather across the entire state," council chief executive Andrew Hall said.
Gulf Today
12-05-2025
- Business
- Gulf Today
Adnoc L&S 1st quarter revenue up 41% YoY at Dhs4,339 million
Adnoc Logistics and Services (Adnoc L&S) announced on Monday financial results for the first quarter (Q1) ending March 31st, 2025. Adnoc L&S revenue for Q1 was $1,181 million (Dhs4,339 million), a 41 per cent year-on-year increase. Ebitda rose by 20 per cent to $344 million (Dhs1,262 million) in the same period, driven by robust performance across all business segments, sustaining the Ebitda margin at 29 per cent. Net profit for Q1, 2025 was $185 million (Dhs678 million), down 5 per cent compared to Q1, 2024, mainly due to lower commercial shipping rates, but up 3 per cent compared to the previous quarter. Despite evolving market conditions, Adnoc L&S' strategic diversification and resilient business model supports delivery of strong net profit and operating cash flow. The company continues to unlock additional value and efficiencies from its extensive portfolio of assets, while leveraging progressive synergies from its shipping and logistics subsidiaries, Navig8 and Zakher Marine International (ZMI). Captain Abdulkareem Al Masabi, CEO of Adnoc L&S, said, 'Adnoc L&S continues to deliver robust financial results and significant business growth. Our recent acquisition of 80 per cent of Navig8, and the integration of their capabilities into our expansive services portfolio, further strengthens our customer offerings and international footprint, unlocking new shareholder value. 'Moving forward, we will continue to deliver on our transformational growth strategy while leveraging cutting-edge technologies and AI solutions to further enhance operational efficiencies.' Revenues from the Integrated Logistics segment increased to $628 million (Dhs2,307 million), up 23 per cent compared to Q1 2024. The increase was largely driven by higher revenues from Engineering, Procurement and Construction (EPC) projects including the Al Omairah Island and Hail & Ghasha projects, and improved utilisation and rates earned from Jack-Up Barges (JUBs). Integrated Logistics' Ebitda rose by 15 per cent to $182 million (Dhs669 million) compared to Q1 2024. Revenues from the Shipping segment increased 87 per cent to $469 million (Dhs1,722 million), compared to Q1 2024, driven primarily by the consolidation of revenue from the Navig8 tanker fleet. Shipping Ebitda increased 26 per cent to $143 million (Dhs527 million) compared to the same period last year, generating a robust Ebitda margin of 31 per cent. Revenues from the Services segment increased 9 per cent to $84 million (Dhs310 million) compared to Q1 2024. Ebitda from the services segment grew 52 per cent year-on-year to $18 million (Dhs66 million), mainly driven by higher Borouge Container Terminal volumes and shares of profit from Integr8. Earlier Adnoc Logistics & Services announced shareholder approval of all agenda items at its Annual General Meeting, including a final dividend of $136.5 million (Dhs501.3 million), bringing the 2024 full-year dividend to $273 million (Dhs1,001 million), a 5 per cent increase year-on-year, in line with Adnoc L&S' progressive dividend policy. The final dividend, equivalent to 6.78 fils per share, will be paid to shareholders on record as of 3rd April 2025. Dr. Sultan Al Jaber, Chairman of Adnoc L&S, said, '2024 was a transformative year for Adnoc L&S, marked by accelerated global expansion, record financial performance, and bold strategic moves. 'We continued to strengthen our fleet and completed a pivotal $1.0 billion (Dhs3.7 billion) acquisition of 80 per cent of Navig8, significantly enhancing our global reach and operational capabilities. Our strong performance in 2024 allowed us to deliver outstanding shareholder value, including a 5 per cent increase in our full-year dividend, while advancing sustainability, innovation, and industry leadership.' He added that Adnoc L&S is positioned for continued growth, driven by organic expansion, strategic acquisitions, and cutting-edge technology investments. 'With a growing fleet of next-generation vessels and a steadfast commitment to efficiency and sustainability, we remain focused on delivering Adnoc's energy to the world while contributing to the UAE's economic ambitions. The momentum we have built sets the stage for an even more exciting future,' Dr. Al Jaber stated. Adnoc L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational efficiency. Revenue increased 29 per cent year-on-year to over $3.5 billion (Dhs13 billion), while net profit rose 22 per cent to $756 million (Dhs2.7 billion). Ebitda grew 31 per cent year-on-year, reflecting Adnoc L&S' ability to scale operations while maintaining profitability. Since its 2023 IPO, the company's share price has increased by 178 per cent, significantly outperforming the ADX and strengthening investor trust in Adnoc L&S' long-term strategy.
Yahoo
28-04-2025
- Business
- Yahoo
Germany should consider splitting power market, EU network operators say
By Kate Abnett BRUSSELS (Reuters) -Germany should consider splitting its electricity market into up to five price zones to better reflect the different costs across the country, Europe's association of power grid operators (ENTSO-E) said in a report on Monday. WHY IT'S IMPORTANT Germany is a single large power market zone, with a unified wholesale price. Luxembourg is also part of Germany's electricity bidding zone. However, congestion on Germany's grid, which lacks connections to move power from the wind-rich north to consumption centres in the south, has increased calls for a split into at least two zones, to stop high prices in one region bleeding across the entire country. BY THE NUMBERS ENTSO-E said its analysis of various options for splitting Germany's market suggested all would yield economic benefits, but a split into five bidding zones would deliver the biggest benefits, of 339 million euros ($385 million) for 2025. However, while splitting the market could yield lower prices in the renewables-rich north, ENTSO-E said prices could increase in southern regions - the seat of much of the heavy industry that drives the German economy. WHAT'S NEXT Germany's new coalition government has said it opposes splitting up the power market, which it fears could increase prices in the south and impact industrial activity. However, the issue is already disrupting power infrastructure projects, and countries including Sweden are lobbying Berlin to reconsider. CONTEXT Sweden has said it will not green light a new power cable to connect the south of the country to Germany unless Berlin reorganises the German market. Sweden and Germany are already connected by one power cable, which Sweden's government has said is driving up power prices in Sweden's south - despite being connected to northern Germany where cheap renewable energy is abundant. Sweden's electricity market is split into four zones. ($1 = 0.8804 euros)
Reuters
28-04-2025
- Business
- Reuters
Germany should consider splitting power market, EU network operators say
BRUSSELS, April 28 (Reuters) - Germany should consider splitting its electricity market into up to five price zones to better reflect the different costs across the country, Europe's association of power grid operators (ENTSO-E) said in a report on Monday. WHY IT'S IMPORTANT Germany is a single large power market zone, with a unified wholesale price. Luxembourg is also part of Germany's electricity bidding zone. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. However, congestion on Germany's grid, which lacks connections to move power from the wind-rich north to consumption centres in the south, has increased calls for a split into at least two zones, to stop high prices in one region bleeding across the entire country. BY THE NUMBERS ENTSO-E said its analysis of various options for splitting Germany's market suggested all would yield economic benefits, but a split into five bidding zones would deliver the biggest benefits, of 339 million euros ($385 million) for 2025. However, while splitting the market could yield lower prices in the renewables-rich north, ENTSO-E said prices could increase in southern regions - the seat of much of the heavy industry that drives the German economy. WHAT'S NEXT Germany's new coalition government has said it opposes splitting up the power market, which it fears could increase prices in the south and impact industrial activity. However, the issue is already disrupting power infrastructure projects, and countries including Sweden are lobbying Berlin to reconsider. CONTEXT Sweden has said it will not green light a new power cable to connect the south of the country to Germany unless Berlin reorganises the German market. Sweden and Germany are already connected by one power cable, which Sweden's government has said is driving up power prices in Sweden's south - despite being connected to northern Germany where cheap renewable energy is abundant. Sweden's electricity market is split into four zones. ($1 = 0.8804 euros)
