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Reuters
07-05-2025
- Business
- Reuters
Germany finance regulator: banks strong but uncertainty high
The logo of Germany's Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside of an office building of the BaFin in Bonn, Germany, April 15, 2019. REUTERS/Wolfgang Rattay/File Photo Purchase Licensing Rights , opens new tab FRANKFURT, May 7 (Reuters) - Mark Branson, the president of Germany's bank watchdog BaFin, said on Wednesday that the nation's financial firms were in a strong position but that uncertainty would remain extremely high. "The possibility that problems in the non-banking sector have an impact on banks cannot be ruled out just because we have weathered the turbulence well so far," Branson said. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Tom Sims and Frank Siebelt, Editing by Rachel More Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Reuters
06-05-2025
- Business
- Reuters
Nigeria's Renaissance halts oil output via pipeline after spill
YENAGOA, Nigeria, May 6 (Reuters) - Nigeria's Renaissance Africa Energy Co. Ltd has halted oil shipments via its Okordia-Rumuekpe pipeline in the coastal Rivers state following a spill, the independent oil firm said on Tuesday. The pipeline, which transports crude oil south to the Rumuekpe manifold for export via the Bonny terminal, experienced the spill in the early hours of Monday in Ikata community in the Ahoada East district of the state, according to the Youths and Environmental Advocacy Centre (YEAC-Nigeria). The environmental group's volunteer network initially detected the spill. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Renaissance, owner of a former Shell onshore subsidiary which operates the pipeline, has halted production into the pipeline and taken measures to minimize potential environmental damage, a spokesperson said in a statement. While Renaissance did not disclose the cause or scale of the spill, YEAC-Nigeria said it was likely due to third-party interference, with crude oil spreading into the surrounding environment. Renaissance has notified government regulators and is coordinating a joint investigation with regulatory bodies and the local community. Persistent oil spills and pipeline vandalism plague Nigeria's oil-rich Niger River delta, causing pollution that harms local communities and ecosystems, and frequently disrupting oil production. Volunteers who visited the site of the Okordia-Rumuekpe spill found evidence of excavation and vandalism on the pipeline, said Fyneface Dumnamene Fyneface, a YEAC-Nigeria director.
Reuters
06-05-2025
- Business
- Reuters
Gabon names prominent banker as minister of finance
May 5 (Reuters) - Gabon's leader Brice Oligui Nguema has named a new cabinet, after his landslide victory in a presidential election in April, choosing a prominent banker and businessman to tackle the country's acute liquidity shortage. President Nguema, inaugurated over the weekend, has said he will boost agriculture, industry and tourism in the oil-dependent economy and fight corruption. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. On Monday he named Henri-Claude Oyima, the chief executive of Gabon-based BGFI Bank and head of the Gabonese Confederation of Businesses, to be minister of state, economy, finance and debt. Prior to his election win, Nguema seized power in 2023 from the Bongo family that had ruled the Central African nation for over 50 years.
Reuters
06-05-2025
- Business
- Reuters
India's Adani Power wins contract to supply 1500 MW to Uttar Pradesh state, sources say
Electric power transmission pylon miniatures and Adani Green Energy logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights , opens new tab Companies Adani Power Ltd Follow NEW DELHI, May 6 (Reuters) - India's Adani Power ( , opens new tab has won a contract to supply 1500 megawatts from a thermal power plant in the northern state of Uttar Pradesh at 5.38 rupees ($0.0638) per unit, two sources told Reuters on Tuesday. ($1 = 84.3580 Indian rupees) Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Sarita Chaganti Singh, writing by Tanvi Mehta Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Reuters
06-05-2025
- Climate
- Reuters
At least 14 dead due to heavy rain in India's Gujarat
AHMEDABAD, May 6 (Reuters) - At least 14 people died and 16 others were injured in the past two days as heavy pre-monsoon showers lashed India's western state of Gujarat, state officials said on Tuesday. Television visuals showed fallen trees and damaged crops as heavy lightning and thunderstorms impacted several districts. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. The unseasonal rain across most of the state was driven by a cyclonic circulation in the neighbouring parts of Pakistan and India's Rajasthan state, according to India's Meteorological Department. Advertisement · Scroll to continue Report This Ad The weather forecaster has forecast more rain, thunderstorms, lightning, and gusty winds across Gujarat until Thursday. Local officials told Reuters that 14 people were killed and 16 injured so far. "We are awaiting reports on crop damage," said Anju Sharma, secretary of the state's agriculture department. Gujarat is a major producer of cotton, cumin and rice. "District administrations will assess the losses and send us their reports today." Last month, unseasonable heavy rain across eastern and central India and parts of Nepal killed more than 100 people.
