2025-10-30 12:39
KYIV, Oct 30 (Reuters) - Ukraine will resume importing gas from Greece via the Transbalkan pipeline in November following a sharp increase in Russian attacks on the country's gas and energy infrastructure, ExPro consultancy said on Thursday. Russia stepped up strikes on Ukraine's gas sector in October, depriving Kyiv of 55% of its own gas production and forcing it to look at importing an additional 4 billion cubic metres of gas to prevent cities from freezing this winter. Sign up here. ExPro said Greek DEPA Commercial, D.Trading - a subsidiary of Ukraine's largest private energy firm DTEK - and Swiss Axpo Trading had booked capacities to import gas from Greece to Ukraine with a daily amount of 0.6 million cubic meters. The Transbalkan route, which links Greece's LNG terminals to Ukraine, was not used in September and October, and prior to that it only operated in July and August. Ukraine imports about 24 million cubic metres (mcm) of gas daily, including more than 10 mcm from Poland, about 10 mcm from Hungary and more than 4 mcm from Slovakia. The Transbalkan pipeline was not in demand due to the high cost of gas transit across the four countries and via Ukraine. However, tariff reductions by Moldovan and Romanian operators had helped booking capacities in November, ExPro said. https://www.reuters.com/business/energy/ukraine-will-resume-gas-imports-via-transbalkan-route-november-expro-says-2025-10-30/
2025-10-30 12:30
US Treasury secretary says China approved transfer agreement in Kuala Lumpur TikTok's U.S. operations to be sold by January 2025 ByteDance to hold less than 20% in TikTok U.S WASHINGTON, Oct 30 (Reuters) - China has approved the transfer agreement for the short video app TikTok, U.S. Treasury Secretary Scott Bessent said on Thursday, adding that he expects it to move forward in coming weeks and months but giving no other details. "In Kuala Lumpur, we finalized the TikTok agreement in terms of getting Chinese approval, and I would expect that would go forward in the coming weeks and months, and we'll finally see a resolution to that," he told Fox Business Network's "Mornings with Maria" following President Donald Trump's meeting with Chinese leader Xi Jinping. Sign up here. China's Commerce Ministry said in a statement earlier on Thursday that the country would properly handle TikTok-related issues with the United States. A Chinese spokesperson added, "the Chinese side will work with the U.S. side to properly address issues related to TikTok." TikTok, which is owned by China-based ByteDance, did not immediately comment. The fate of the app used by 170 million Americans has remained uncertain for more than 18 months after the U.S. Congress passed a law in 2024 that ordered TikTok's Chinese owners to sell the app's U.S. assets by January 2025. Trump signed an executive order on September 25 declaring that the plan to sell TikTok's U.S. operations to a consortium of U.S. and global investors meets the national security requirements set out in the 2024 law and gave them 120 days to complete the transaction. He also delayed enforcement of the law until January 20, 2026. Trump's order said the algorithm will be retrained and monitored by the U.S. company's security partners, and that operation of the algorithm will be under the control of the new joint venture. The agreement on TikTok's U.S. operations includes the appointment by ByteDance of one of seven board members for the new entity, with Americans holding the other six seats. ByteDance would hold less than 20% in TikTok U.S. to comply with requirements set out in the law that ordered it to be shut down by January 2025 if ByteDance did not sell its U.S. assets. U.S. Representative John Moolenaar, the Republican chair of the House Select Committee on China, said this month that a licensing agreement for use of the TikTok algorithm, as part of the deal by ByteDance to sell U.S. assets of the short video app, would raise "serious concerns." https://www.reuters.com/world/china/china-us-trade-deal-could-be-signed-next-week-us-treasurys-bessent-says-2025-10-30/
2025-10-30 12:26
GABORONE, Oct 30 (Reuters) - Botswana's central bank hiked its main interest rate by 160 basis points on Thursday to try to narrow the gap with market lending rates, which have been driven higher by a liquidity squeeze caused by an economic slump. The decision takes the Southern African country's Monetary Policy Rate to 3.5% (BWRATE=ECI) , opens new tab, up from 1.9% previously. Sign up here. Botswana's economy contracted last year and is expected to do so again this year because of a prolonged downturn in the global market for diamonds, its key export. Banks have been raising their lending rates as liquidity has dried up because of lower diamond sales and increased government borrowing to cover the budget deficit. The Bank of Botswana said the rate hike should improve monetary policy transmission. Central bank governor Cornelius Dekop told a press conference that banks were directed not to increase their prime lending rates further. This month credit rating agency Moody's downgraded Botswana's sovereign rating, citing the government's difficulties adjusting to the downturn in the global diamond industry and increasing government debt. Inflation accelerated to 3.7% year-on-year in September (BWCPIY=ECI) , opens new tab from 1.4% in August, still within the central bank's 3%-6% target range. The central bank now forecasts inflation will rise from an average of 2.7% this year to 5.9% next year. https://www.reuters.com/world/africa/botswana-central-bank-hikes-policy-rate-by-160-basis-points-2025-10-30/
2025-10-30 12:26
Vessel carrying Russian naphtha stuck off Indian port of Mundra Ship carrying 40,000 metric tons of naphtha, shipping data shows Indian refiners ready to cut Russian imports after US sanctions India is the biggest importer of Russian naphtha after Taiwan MOSCOW/NEW DELHI, Oct 30 (Reuters) - A ship carrying Russian naphtha has been stuck off India's western coast, unable to unload, since October 26 after U.S. sanctions on two key suppliers disrupted Indian oil and fuel imports, traders said and shipping data confirmed. Following new Ukraine-related U.S. sanctions on Russia last week, Indian refiners said they were ready to sharply curtail Russian oil imports, as New Delhi already faces punishing 50% tariffs on its exports to the United States. Sign up here. India is the second biggest buyer after Taiwan of naphtha from Russia, which in September shipped around 170,000 metric tons of the fuel used as a feedstock for petrochemicals and gasoline to India, market sources said and shipping data showed. All of these cargoes have already been discharged in India, with the exception of around 40,000 tons of naphtha on the vessel that has been stuck near the port of Mundra in the western state of Gujarat, the sources and shipping data showed. The cargo, of which the buyer and seller could not be ascertained, was loaded at the Russian Baltic port of Ust-Luga and was destined for Mundra, LSEG and Kpler data showed. India's HPCL-Mittal Energy, which operates the 226,000 barrel per day Bathinda refinery in the northern Punjab state, gets all of its crude and naphtha supplies at Mundra port. HPCL-Mittal Energy, which said on Wednesday it has stopped purchasing Russian oil, did not immediately respond to a Reuters request for comment on Thursday. "We will not buy from any sanctioned entity," a source at HPCL-Mittal Energy told Reuters, adding that the refiner has a planned turnaround coming up in November and has ample stocks of naphtha for its cracker. In October so far, naphtha loadings from Russian ports bound for India totalled around 185,000 tons and most of the cargoes are still at sea, LSEG data shows. https://www.reuters.com/business/energy/ship-carrying-russian-naphtha-india-limbo-after-us-sanctions-2025-10-30/
2025-10-30 12:21
BERLIN, Oct 30 (Reuters) - Germany's automotive industry association VDA plans to set up a temporary information platform via a neutral third party to help manufacturers and suppliers avoid the negative consequences of a possible chip shortage, it said on Thursday. The platform will enable companies to anonymously offer available Nexperia semiconductor capacities, with negotiations handled outside the exchange, and has received clearance from the German antitrust authority, VDA said. Sign up here. https://www.reuters.com/technology/german-auto-industry-plans-temporary-chip-information-platform-ease-supply-risks-2025-10-30/
2025-10-30 12:17
Stronger profit at fuel trading unit also contributes to upgrade Considering payout ratio of 25-35% from fiscal 2026 TEPCO posts largest first-half loss TOKYO, Oct 30 (Reuters) - Japan's top nuclear power operator, Kansai Electric Power (9503.T) , opens new tab, on Thursday lifted its annual profit forecast by 22% on higher electricity demand and stronger-than-expected earnings at its fuel trading unit. For the current fiscal year to end-March 2026, net profit is now seen at 360 billion yen ($2.4 billion), up from 295 billion. Sign up here. The upgrade is driven by KE Fuel Trading Singapore, which mainly trades liquefied natural gas, Hironori Kakiguchi, Kansai's accounting and finance general manager, told reporters. Kansai, in which U.S. activist investor Elliott has recently become a large minority shareholder, also increased its full-year dividend forecast to 75 yen per share from the previously expected 60 yen. Kakiguchi said it is considering introducing a consolidated payout ratio target of 25-35% and an around mid-30% equity ratio target beginning in the next fiscal year. The company declined to comment on discussions with any individual shareholders, including Elliott. For the six months to end-September, Kansai Electric posted net profit of 233 billion yen, in line with a year earlier. In contrast, Tokyo Electric Power Company Holdings (TEPCO) (9501.T) , opens new tab, which is still paying compensation after the 2011 Fukushima nuclear disaster, reported its largest first-half net loss since adopting consolidated accounting in fiscal 2020, at 712.4 billion yen. "We want to get cash flow back into the black as soon as possible by restarting the No.6 unit of the Kashiwazaki-Kariwa nuclear power plant and cutting costs," Hiroyuki Yamaguchi, TEPCO's representative executive vice president, said on Thursday. He gave no timeline for restarting the reactor as discussions continue with the governor of Niigata where the plant is located. This month, TEPCO informed the prefecture it would contribute 100 billion yen and consider decommissioning No.1 and No.2 units at Kashiwazaki-Kariwa. ($1 = 150.7800 yen) https://www.reuters.com/business/energy/japans-kansai-elec-ups-fy-profit-forecast-electricity-demand-grows-2025-10-30/
