2025-11-16 16:01

BERLIN, Nov 16 (Reuters) - Dialogue with China is key to find solutions for pressing problems like supply chain uncertainty and Chinese overcapacity, German Finance Minister and Vice Chancellor Lars Klingbeil said on Sunday ahead of his trip to the country. His visit comes as Germany reassesses its trade policy towards China, accelerating a policy of "de-risking" after Beijing's recent curbs on rare earths and semiconductors rattled German industry. Sign up here. "Access to critical raw materials and the reduction of Chinese overcapacity in sectors such as steel and electric mobility are of great importance for the economy and jobs in Germany," Klingbeil said in Berlin before departing for Beijing. "We do not shy away from competition, but it must be fair," he added. Klingbeil will be the first minister from Germany's coalition government to visit China. Foreign Minister Johann Wadephul postponed his trip, planned for the end of October, after Beijing confirmed only one of his requested meetings. GERMANY TO DISCUSS UKRAINE WAR WITH CHINA Russia's war of aggression against Ukraine will also be a topic of discussion, Klingbeil said, noting that the conflict has far-reaching consequences for the economy and stability not only in Europe but worldwide. "China plays a decisive role when it comes to ending this war," Klingbeil said. https://www.reuters.com/world/china/top-german-minister-departs-china-seeking-dialogue-trade-tensions-2025-11-16/

2025-11-16 15:39

Novorossiysk resumes loadings after two-day suspension Ukraine struck Novorossiysk in missile and drone attack Suezmax and Aframax-class tankers loading MOSCOW, Nov 16 (Reuters) - Russia's Novorossiysk port resumed oil loadings on Sunday after a two-day suspension triggered by a Ukrainian missile and drone attack, two industry sources said and LSEG data showed. Novorossiysk and a neighbouring Caspian Pipeline Consortium terminal temporarily suspended oil exports - equivalent to 2.2 million barrels per day, or 2% of global supply - on Friday. Global oil prices rallied by more than 2% on supply fears after the attack. Sign up here. Two industry sources told Reuters on condition of anonymity that loadings had resumed. According to LSEG data, two tankers — the Suezmax class Arlan and Aframax class Rodos — are currently loading oil at the port’s berths. The Ukrainian attack damaged two oil berths at Novorossiysk. The attack on Novorossiysk, Russia’s largest Black Sea export hub, was the most damaging Ukrainian attack to date on Russia’s main Black Sea crude export infrastructure. Novorossiysk accounts for about a fifth of Russian crude exports and a long shutdown would have forced costly shuttering of oil wells in West Siberia, a step that would have significantly reduced the amount of oil sent to world markets by the world’s second largest exporter. The attack on Novorossiysk came after months of Ukrainian drone attacks on Russian refineries, oil depots and pipelines. Reuters reported on Thursday that Russia's oil processing has fallen just 3% this year, despite Ukraine's biggest drone attacks to date. The Caspian Pipeline Consortium, which exports oil from Kazakhstan via a Black Sea terminal, resumed oil loadings on Friday after a brief suspension due to the attack. Russian crude oil shipments via Novorossiysk's Sheskharis terminal totalled 3.22 million tonnes, or 761,000 barrels a day, in October, according to industry sources. A total of 1.794 million tonnes of oil products were exported through Novorossiysk in October, the sources said. https://www.reuters.com/business/energy/russias-novorossiysk-port-resumes-oil-loadings-sources-say-lseg-data-shows-2025-11-16/

2025-11-16 14:36

DUBAI, Nov 16 (Reuters) - Airbus expects the Middle East's regional aircraft fleet to more than double to 3,700 planes by 2044, an official said on Sunday. The European planemaker expects passenger traffic in the Middle East to grow at a compound annual rate of 4.4% over the next two decades, Airbus Head of Marketing in Africa and the Middle East Grainne van den Berg told a press conference. Sign up here. Airbus also expects the services market in the region to double to $29.9 billion by the end of 2044, van den Berg added. The forecast came ahead of the Dubai Airshow, the largest Middle East aviation event taking place on November 17-21. Airbus, which is among the planemakers taking part as it vies for orders with its main competitor Boeing (BA.N) , opens new tab, predicts widebody aircraft will make up 42% of total demand in the region by 2044, representing the highest share globally. "The Middle East is transforming global aviation, and the forecast fleet expansion is truly significant, particularly when it comes to widebodies," said Airbus President in Africa and Middle East Gabriel Semelas. "This region is becoming the long-haul hub now and into the future," Semelas added. https://www.reuters.com/business/aerospace-defense/airbus-says-middle-east-regional-aircraft-more-than-double-by-2044-2025-11-16/

2025-11-16 12:45

BELGRADE, Nov 16 (Reuters) - Serbia has seven days to decide on steps to safeguard fuel supplies from the Serbian refinery of Russian-owned NIS (NIIS.BEL) , opens new tab without nationalisation, President Aleksandar Vucic said on Sunday. Washington is seeking complete Russian divestment from NIS, which operates Serbia's only refinery, and on Saturday gave the company's owners three months to find a buyer. Sign up here. Banks have frozen NIS transactions and officials project that the Serbian refinery only has enough crude oil to operate until November 25. "The decision ... must be made over the next seven days; the refinery must operate," Vucic said on Sunday during a government session aired live on state television. Vucic said that Serbia wants to avoid nationalising Russian assets and is ready to make an above-market offer for the company should Russian negotiations with unnamed Asian and European partners fail. Russia's Gazprom Neft (SIBN.MM) , opens new tab and Gazprom (GAZP.MM) , opens new tab hold a combined controlling stake of 56% in NIS and have notified the U.S. Treasury's Office of Foreign Assets Control (OFAC) of their willingness to transfer control to a third party. Finance Minister Sinisa Mali warned on Sunday that prolonged sanctions on NIS could undermine Serbia's economic growth, credit ratings and foreign investment. Gazprom Neft controls 44.9% of NIS and Gazprom 11.3% while Serbia owns 29.9%, with the rest held by small shareholders. https://www.reuters.com/business/energy/serbia-has-week-resolve-nis-refinery-crisis-president-vucic-says-2025-11-16/

2025-11-16 11:40

Trump dropped tariffs on 200-plus food items Indian exporters had been hit harder than EU rivals among others Coffee, spices and tea among exempt products Gains could be limited, analysts say NEW DELHI, Nov 16 (Reuters) - Indian agricultural exporters are among the winners from U.S. President Donald Trump’s exemption of dozens of food items from his reciprocal tariffs regime, which some analysts say could help to revive lost demand. Trump on Friday removed tariffs he had imposed on more than 200 food products, including beef, as consumer concerns mount over rising U.S. grocery prices. Sign up here. Unlike EU and Vietnamese suppliers facing 15–20% duties, Indian exporters of tea, coffee, spices and cashew nuts were hit harder after Trump doubled tariffs to as high as 50% on imports of certain Indian goods, including a punitive 25% levy from the end of August on India's Russian oil purchases. Ajay Sahai, director general of the Federation of Indian Export Organisations (FIEO), says that between $2.5 billion and $3 billion of exports will benefit from the tariff exemptions. POSITIVE SIGNAL FOR WIDER TRADE TALKS "This order opens space for premium, speciality and value-added products," he said. "Exporters who shift towards higher-value segments will be better protected from price pressures and can tap rising consumer demand.” Officials involved in trade and farm export policy said the exemptions are also a positive signal for ongoing U.S.–India trade talks and could ease export pressure triggered by this year’s tariff increases. Exports of Indian goods to the U.S. fell nearly 12% year on year in September to $5.43 billion after tariffs were raised. Indian farm exports, estimated to account for $5.7 billion of the country's $87 billion of exports to the U.S. in 2024, were among those hit. "The move benefits Indian farmers and exporters of tea, coffee, cashew and fruits and vegetables,” a senior official involved in Indian farm export policy said on condition of anonymity. Ajay Srivastava, founder of the Global Trade Research Initiative lobby group, said India’s U.S.-bound farm exports - focused on a few high-value spices and niche products - would register limited gains given its weak presence in key exempt items such as tomatoes, citrus fruits, melons, bananas and fruit juices. “The tariff shift would marginally strengthen India’s position in spices and niche horticulture and help revive some lost U.S. demand after the tariff hikes,” Srivastava added. Latin American, African and ASEAN suppliers are likely to make larger gains, he said, adding that it was not immediately clear whether Indian exports will be exempt from 25% reciprocal tariffs or full 50% tariffs. Exporters, however, fear that other factors will keep potential gains in check, pointing to high freight costs, strong competition from Vietnam and Indonesia and tougher U.S. quality requirements. "Tariff relief is important, but market recovery also depends on logistics and our ability to match prices,” one exporter said. https://www.reuters.com/world/india/trump-tariff-rollback-offers-relief-indian-farmers-2025-11-16/

2025-11-16 09:22

TOKYO, Nov 16 (Reuters) - A volcano on Japan's major western island of Kyushu erupted multiple times on Sunday, sending a plume of smoke and ash as high as 4.4 kilometres (2.73 miles) into the air and causing dozens of flight cancellations. The volcano, which is called Sakurajima and is located on the southern tip of Kyushu near the city of Kagoshima, erupted at about 1 a.m. (1600 GMT on Saturday), the Japanese Meteorological Agency (JMA) said. There were two more eruptions at about 2:30 a.m. and 8:50 a.m. Sign up here. It is the first eruption reaching 4 km or higher in almost 13 months, Kyodo news agency said. Local media also reported 30 flights in and out of Kagoshima Airport were cancelled because of ashfall and related reasons. The JMA said volcanic ash drifted northeast following the latest eruption and that it expected ash to fall in Kagoshima as well as nearby Miyazaki Prefecture on Sunday. Sakurajima is one of Japan's most active volcanoes and eruptions of varying levels take place on a regular basis. In 2019 it spewed ash as high as 5.5 km (3.4 miles). https://www.reuters.com/business/environment/japans-sakurajima-volcano-erupts-ashfall-cancels-flights-2025-11-16/