2025-10-19 06:36

MOSCOW, Oct 19 (Reuters) - The Orenburg gas processing plant, the largest facility of its kind in the world, has been forced to suspend its intake of gas from Kazakhstan after a Ukrainian drone attack, Kazakhstan's energy ministry said on Sunday. Orenburg regional governor Yevgeny Solntsev had said earlier on Sunday that the plant had been partially damaged and that the drone strike had caused a fire to break out at a workshop at the plant. The fire was later put out, Russian media outlet Kommersant reported, citing the operator. Sign up here. Ukraine, which confirmed it hit a gas processing plant in the Orenburg region and an oil refinery in the Samara region, has stepped up its attacks on Russian refineries and other energy facilities since August to try to disrupt petrol supplies and deprive Moscow of funding. Ukrainian military said there were explosions and fire at the site. It is the first reported strike on the plant, which forms part of the Orenburg gas chemical complex. The facility, operated by Gazprom, has an annual processing capacity of 45 billion cubic metres and handles gas condensate from both the Orenburg oil and gas field and Kazakhstan’s Karachaganak field. Kazakhstan's energy ministry said Gazprom (GAZP.MM) , opens new tab had notified it of the emergency but had yet to provide details on the extent of the damage or a timeline for resuming full operations. Nobody was reported to have been hurt in the attack. Separately, the governor of Russia's Samara region, Vyacheslav Fedorishchev, said on social media that air defences had also been in action overnight against Ukrainian drones and that the local airport and mobile internet services had been temporarily suspended. Ukraine has previously tried to strike an oil refinery in the Samara region. Russia's Defence Ministry said in a statement that its air defence forces had shot down 45 Ukrainian drones overnight, including 12 over the Samara region, 11 over the Saratov region, and one over the Orenburg region. https://www.reuters.com/world/europe/ukrainian-drones-cause-fire-russian-gas-plant-governor-says-2025-10-19/

2025-10-19 00:30

Oct 18 (Reuters) - Chinese tech giants, including Alibaba-backed Ant Group (688688.SS) , opens new tab and e-commerce group JD.com (9618.HK) , opens new tab, have paused plans to issue stablecoins in Hong Kong after the government raised concerns about the rise of currencies controlled by the private sector, the Financial Times reported on Saturday. Companies have put their stablecoin ambitions on hold after receiving instructions from Chinese regulators, including the People’s Bank of China and Cyberspace Administration of China, not to move ahead with the plans, the FT reported, citing people familiar with the matter. Sign up here. Hong Kong's legislature passed a stablecoin bill in May that established a licensing regime for fiat-referenced stablecoin issuers in Hong Kong, providing regulatory clarity for future participants. Under the new regime, any person who issues stablecoins in Hong Kong - or issues stablecoins backed by Hong Kong dollars, whether within or outside the city - must obtain a licence from the Hong Kong Monetary Authority. Ant Group said in June it would be participating in the pilot stablecoin programme. JD.com has also said it would take part in the pilot, according to the FT. PBOC officials advised against participating in the initial rollout of stablecoins over concerns about allowing tech groups and brokerages to issue any type of currency, the FT report said. Reuters could not immediately verify the report. Ant Group, JD.com, PBOC and CAC did not respond to requests for comment. A spokesperson for the HKMA told Reuters on Sunday in an email that it does not comment on market rumours. Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually pegged to a fiat currency such as the U.S. dollar, are commonly used by crypto traders to move funds between tokens. https://www.reuters.com/business/retail-consumer/chinese-tech-giants-pause-stablecoin-plans-after-beijing-steps-ft-reports-2025-10-19/

2025-10-18 23:04

LONDON, Oct 19 (Reuters) - Britain announced a national plan on Sunday to train and recruit hundreds of thousands of workers for industrial jobs amid growing demand in the clean energy sector. The government said that recent public and private investment in clean energy, such as renewables and nuclear, was driving a surge in demand for industrial workers, with plumbers, electricians, and welders especially sought after. Sign up here. Under the new plans, five new colleges will train young people for clean energy careers, while a national programme will help connect workers with jobs in solar installation, wind turbine manufacturing, and nuclear power. In addition, work schemes will support ex-offenders, school leavers, and the unemployed, alongside efforts to upskill existing workers, such as helping those in oil and gas transition into roles in offshore wind, nuclear energy, and the electricity grid. "Communities have long been calling out for a new generation of good industrial jobs," energy secretary Ed Miliband said. "The clean energy jobs boom can answer that call." The government is aiming to double jobs in the sector to 860,000 by 2030. The plan proposes ensuring companies receiving public funding offer fair pay and strong workplace protections across the clean energy sector. Britain hopes to largely decarbonise its electricity sector by 2030, as part of a broader effort to meet climate targets, strengthen energy security, and lower power costs by reducing dependence on costly fossil fuels. It previously announced a goal to more than double current investment in clean energy industries, aiming to exceed 30 billion pounds ($40.30 billion) annually by 2035. ($1 = 0.7445 pounds) https://www.reuters.com/business/world-at-work/uk-launches-drive-meet-growing-demand-clean-energy-workers-2025-10-18/

2025-10-18 22:51

WASHINGTON, Oct 18 (Reuters) - Democrats in Congress on Saturday criticized the Trump administration's decision to buy two Gulfstream G700 jets for $172 million during the ongoing government shutdown that are to be used by Homeland Security Secretary Kristi Noem and other senior leaders. The U.S. Coast Guard entered into a sole-source contract on Friday, according to a government contracting website. The jets will be used for the Coast Guard’s Long Range Command Control fleet of aircraft. Sign up here. DHS said in a statement late Friday that the new jets are needed because it currently relies on a Gulfstream CG-101 G550 jet that is over 20 years old, outside of the aircraft’s service life "and well beyond operational usage hours for a corporate aircraft." The department said it would not allow the federal shutdown "to slow down this process" of replacing the jet, but Democrats want to know where the money is coming from. "Your first priority should be to organize, train and equip a Coast Guard that is strong enough to meet today's mission requirements. Instead, it appears your first priority is your own comfort," Democratic Representatives Rosa DeLauro and Lauren Underwood wrote in a letter to Noem. This week, DHS said it would pay more than 70,000 sworn police officers, including TSA air marshals but not the 50,000 TSA security personnel that operate airport checkpoints. Representative Bennie Thompson, the top Democrat on the Homeland Security Committee, called for a probe of the purchase. "Such spending is blatantly immoral — and probably illegal — and Congress must investigate," Thompson said in a statement on Saturday. Thompson said Congress rejected a DHS request for a $50 million jet earlier this year. He noted Coast Guard service members are using some mission-critical aircraft dating back to the 1980s. Bloomberg Government first reported the planned purchases earlier. https://www.reuters.com/business/aerospace-defense/dhs-purchase-business-jets-during-shutdown-draws-democrats-ire-2025-10-18/

2025-10-18 15:25

Gold prices hitting record highs in India and worldwide Overall gold sales volumes during Dhanteras down 10-15%, GJC says Dhanteras gold jewellery demand 30% lower as prices soar, IBJA says MUMBAI, Oct 18 (Reuters) - Soaring gold prices led Indian buyers to choose coins and bars over jewellery during the Dhanteras festival on Saturday, fuelled by hopes that the precious metal's glittering rally would continue, industry officials told Reuters. Dhanteras, which marks the start of the five-day Diwali festival of lights, is considered auspicious for buying gold and is one of the busiest gold-buying days in the world's second-biggest consumer of the metal. Sign up here. Overall gold sales during Dhanteras were 10–15% lower in volume terms compared to last year, but total value rose sharply due to higher prices, said Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council. "Gold jewellery demand took a hit with record-high prices, dropping nearly 30% from last year, but coins and bars were flying off the shelves," Surendra Mehta, secretary at the India Bullion and Jewellers Association, said. In India, buyers typically pay 10–20% of the gold price as manufacturing charges for jewellery, making it even more expensive than buying gold coins. Local gold prices closed at 127,008 rupees per 10 grams on Friday after hitting a record high of 132,294 rupees, marking an increase of more than 60% since last year's Dhanteras. India's NSE Nifty 50 share index (.NSEI) , opens new tab has risen about 5% during the period. Facing record price surges, the industry is offering healthy discounts on jewellery making to maintain strong gold-buying interest throughout the festive and upcoming wedding seasons, said Sachin Jain, CEO of the World Gold Council's Indian operations. Indian dealers were this week quoting a premium of up to $25 per ounce over official domestic prices, inclusive of 6% import and 3% sales levies, the highest in more than a decade. Demand for silver coins, bars and jewellery meanwhile was strong this year, driven by the metal's stellar price rally, said Saurabh Gadgil, chairman of PNG Jewellers (PNGD.NS) , opens new tab. Investors believe silver could outperform gold, dealers said. Higher returns from precious metals have been attracting strong inflows into physically backed gold and silver exchange-traded funds in recent months. "With jewellery stores open till midnight and Dhanteras continuing into tomorrow afternoon, we expect buying momentum to carry forward," said Rokde of GJC. https://www.reuters.com/world/india/record-gold-prices-shift-indian-festive-demand-toward-coins-over-jewellery-2025-10-18/

2025-10-18 14:50

New Zealand is part of Trans-Pacific trade partnership EU expressed interest in joining trade group New Zealand sticking to climate action pledges WASHINGTON, Oct 18 (Reuters) - New Zealand Finance Minister Nicola Willis said regional and bilateral trading relationships will continue to strengthen against the backdrop of the worsening U.S.-China trade war, as small countries like hers adjust to a new reality and hold fast to priorities such as fighting climate change. Willis said in an interview on Thursday that New Zealand was keenly aware of rising geopolitical and economic risks, but her discussions at the annual meetings of the International Monetary Fund and World Bank this week showed the enduring strength of the international institutions and trade deals among other countries. Sign up here. New Zealand has strong trading ties under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a free trade deal between 11 member countries, including Canada, Japan and Britain, she said, with the European Union having also expressed interest in linking up. A separate trade deal with the United Arab Emirates was also promising, she said. "All of those trade relationships are very strong, and the message that we're having from our partners is that they wish to continue to build on them and expand them, rather than go the other way," she told Reuters. "We ... are cautious and nervous about anyone backsliding on agreements, but we're not seeing signs of that happening." IMF and global trade officials this week highlighted uncertainty and risks linked to a new escalation in the U.S.-China trade war, but pointed to continued resilience in global trade, noting that only three countries - the U.S., China and Canada - had jacked up tariff rates in recent months, with some 72% of trade flows still adhering to existing rules. Willis said New Zealand also remained committed to its emission reduction commitments under the Paris climate accord, and did not expect U.S. President Donald Trump's withdrawal of the U.S. from the accord to derail her country's efforts. "We consider the risk and threat of more extreme climatic events as something that we need to prepare for and adapt to, both for ourselves, but particularly for our Pacific family, small island states who are particularly vulnerable to significant climatic events," Willis said. She said consumers around the world, including in the U.S., would continue to be interested in the emissions profile of countries like New Zealand, creating a commercial and trade imperative for continued climate action. Existing trade agreements, such as New Zealand's trade deal with the EU, also required continued adherence to climate commitments, Willis said. "There are a number of bilateral agreements like that in the world where countries have committed to each other that they will continue climate action. And I'm certainly seeing those commitments continued by many nations." New Zealand also remained a partner in the Five Eyes group, along with Britain, Canada, the U.S. and Australia, Willis said, and was increasing its defense spending along with others amid rising geo-strategic pressures and fragility. https://www.reuters.com/world/china/new-zealands-finmin-eyes-stronger-regional-ties-face-us-china-trade-war-2025-10-18/