2025-10-07 12:24

JAKARTA, Oct 7 (Reuters) - Indonesia is considering setting a mandatory bioethanol content level for gasoline of 10% in a bid to lower carbon emissions and reduce the country's dependence on fuel imports, state news agency Antara reported on Tuesday, citing the energy minister. Indonesia's government is seeking to expand the use of biofuels made from palm oil and sugar cane as President Prabowo Subianto pushes the world's fourth-most populous nation to become more energy self-sufficient. However, a mandatory bioethanol mix for gasoline has faced implementation delays due to limited ethanol supplies. Sign up here. "We had a meeting with the president yesterday evening. The president had agreed over the 10% bioethanol mandatory plan," energy minister Bahlil Lahadalia was quoted as saying. State energy firm Pertamina's CEO Simon Aloysius Mantiri said the company was ready to help implement the plan, according to the Antara report. Indonesia had the capacity to produce 303,325 kilolitres of bioethanol per year in 2024, but output stood at 160,946 kL with imports at 11,829 kL, according to data from Apsendo, an association of Indonesian methylated spirits and ethanol producers. Domestic demand for bioethanol stood at 125,937 kL last year while exports reached 46,839 kL. https://www.reuters.com/sustainability/climate-energy/indonesia-considering-bioethanol-blended-fuel-mandate-state-media-reports-2025-10-07/

2025-10-07 11:54

Oct 7 (Reuters) - Companies looking to sidestep disruptions caused by the U.S. government shutdown to their initial public offerings can tap a provision that allows them to press ahead with their listing plans without the need for regulatory approvals. Biotech startup MapLight became the first company to file for a listing under the provision late on Monday. Sign up here. The U.S. market regulator has halted IPO reviews as the shutdown enters its second week. WHAT HAPPENS TO THE SEC DURING A GOVERNMENT SHUTDOWN? According to its contingency plan, the U.S. Securities and Exchange Commission has furloughed over 90% of its staff, retaining around 390 employees to handle critical enforcement actions and market monitoring. The agency, which oversees the public markets, will not process IPO filings during the shutdown, a move analysts say could stall momentum in a market recovering from a years-long slump. However, a provision under federal securities law allows companies to move ahead with IPOs without SEC review during the shutdown. WHAT IS THE 20-DAY REGISTRATION RULE FOR IPOS? While companies typically wait for the SEC's approval before launching their IPOs, the rules provide a mechanism that allows issuers to declare their own registrations "effective." Issuers are required to set their IPO price 20 days before the listing, instead of finalizing it the night before, as is customary. During the 2018 U.S. government shutdown, which lasted 35 days and was during Donald Trump's first presidential term, several issuers attempted this option, including biotechnology firm Gossamer Bio and energy company New Fortress Energy. It was also a popular option among so-called special purpose acquisition companies. SPACs raise money through an IPO to fund future acquisitions. At the time of listing, they are blank-check companies with no existing operations or assets. Their valuation is tied entirely to the cash raised, which allows them to set an IPO price in advance without deterring investors. WHAT ARE THE RISKS FOR ISSUERS AND INVESTORS? While the 20-day rule provides a way for companies to go public during a shutdown, bypassing the SEC review carries risks for both issuers and investors. Without the agency's oversight, registration statements are more prone to errors or missing disclosures, which could expose companies to legal action or investor complaints after listing. Companies may face greater scrutiny from investors, who often rely on the SEC's review to verify the accuracy and completeness of disclosures. To reduce that risk, many issuers work closely with legal and financial advisers to carry out detailed internal reviews of their filings. Skipping regulatory reviews can also alienate investors, who may view the lack of regulatory vetting as a sign of higher risk or insufficient transparency. WILL MORE COMPANIES TAKE THIS ROUTE? Analysts say companies could rely on the 20-day registration rule if the shutdown looks set to drag on amid the ongoing deadlock in Congress. "Biotech companies are prime candidates for this unconventional but valid way to go public during a shutdown as their high cash-burn rates often create an urgent need for funding," said Lukas Muehlbauer, research analyst at IPO research firm IPOX. Some firms may also withdraw IPO filings and seek capital in private markets while waiting for the SEC to resume reviews. https://www.reuters.com/legal/government/how-companies-are-steering-ipo-plans-amid-us-government-shutdown-2025-10-07/

2025-10-07 11:51

EGA works with Morgan Stanley on potential CBA acquisition, sources say CBA offers full aluminium production chain, attractive to investors EGA plans $4 billion aluminium smelter project in Oklahoma SAO PAULO/DUBAI/NEW YORK, Oct 7 (Reuters) - United Arab Emirates-based Emirates Global Aluminium (EGA) is exploring an acquisition of Companhia Brasileira de Aluminio, two sources said, as the Brazilian producer’s operations along the entire production chain have made it an attractive target. EGA, jointly owned by the Abu Dhabi sovereign wealth fund Mubadala and the Dubai sovereign wealth fund Investment Corporation of Dubai, is working with Morgan Stanley as its investment banking adviser on the potential deal, the people with knowledge of the matter said. Sign up here. CBA (CBAV3.SA) , opens new tab had a market capitalisation of $487 million as of Monday's close, according to LSEG data. The two sources spoke on condition of anonymity because the matter is private. Reuters could not determine if an offer has been made. CBA, in which Brazilian conglomerate Votorantim S.A. owns a 69% stake according to LSEG data, produces low-carbon aluminium across seven Brazilian states. Its operations encompass the entire aluminium production chain, from bauxite mining and refining to smelting and manufacturing diverse primary aluminium products. CBA is an "all-inclusive asset" with upstream operations, its own mines and access to bauxite that could strengthen an investor's market positioning, one source said. EGA said it continually evaluates potential opportunities for growth, but does not comment on market rumours and speculation. CBA, Morgan Stanley and Votorantim declined to comment. Earlier this year EGA predicted volatility in aluminium prices would continue this year due to tensions in global trade. President Donald Trump has imposed tariffs on steel and aluminium imports into the United States, which is a key market for United Arab Emirates suppliers. EGA was among a group of companies agreeing $200 billion worth of deals with the Trump administration after the president's visit to the region in May. EGA said it would invest to develop a $4 billion primary aluminium smelter project in Oklahoma, the first new "primary" aluminium production plant in the U.S. since 1980, according to its press release. The plans are subject to securing a competitive long-term power supply for the plant, state and local investment incentives and tax credit arrangements, the company said, which added it was in advanced negotiations with the Public Service Company of Oklahoma (PSO) and the Oklahoma government. EGA said in March that annual net profit for 2024 declined by 23.5% due to an impairment charge following the suspension of exports from its operations in Guinea and the introduction of a corporate tax in the United Arab Emirates. https://www.reuters.com/world/middle-east/emirates-global-aluminium-explores-bid-brazilian-aluminium-firm-cba-sources-say-2025-10-07/

2025-10-07 11:34

MOSCOW, Oct 7 (Reuters) - Russia's state nuclear energy company said on Tuesday that a Ukrainian drone had tried to strike a nuclear plant in Russia's Voronezh region, which borders Ukraine. In a statement, Rosenergoatom said the drone was "suppressed by technical means" and detonated after crashing into a cooling tower at the Novovoronezh plant. Sign up here. "There was no damage or injuries; however, the detonation left a dark mark on the cooling tower. The safe operation of the nuclear power plant is ensured," the company said, adding that radiation levels were normal and unchanged. There was no immediate comment from Ukraine on the alleged incident, which Rosenergoatom described as "another act of aggression by the Ukrainian armed forces against Russian nuclear power plants". Moscow has previously accused Kyiv of attacking nuclear power stations in the Kursk and Smolensk regions of western Russia. Ukraine, in turn, has accused Russia of deliberately creating radiation risks at nuclear power stations on Ukrainian territory. https://www.reuters.com/world/europe/russia-says-ukrainian-drone-crashed-into-nuclear-plant-without-causing-damage-2025-10-07/

2025-10-07 11:13

Bitcoin hits record high amid ETF inflows U.S. leads crypto ETF inflows, followed by Switzerland and Germany Oct 7 (Reuters) - Exchange-traded funds (ETFs) tracking crypto assets drew record inflows of $5.95 billion globally last week, as strong demand for digital assets helped propel bitcoin to an all-time high. Digital asset investment products garnered the record capital in the week ended October 4, according to data from Coinshares. Sign up here. Bitcoin , the world's largest cryptocurrency, surpassed its August peak to hit a record high on October 5, extending its gains to reach $126,223 for the first time on Monday. The United States led with $5 billion inflows in crypto ETFs, followed by Switzerland at $563 million and Germany at $312 million, both setting new records, Coinshares said. Bitcoin attracted $3.55 billion, ether $1.48 billion, while solana and XRP drew $706.5 million and $219.4 million, respectively. Bitcoin's ascent comes alongside a record rally in traditional safe haven gold , as a weakening U.S. dollar amid trade uncertainty and economic concerns is pushing investors to diversify their portfolios. "This level of investment highlights the growing recognition of digital assets as an alternative in times of uncertainty," said James Butterfill, head of research at CoinShares, in the weekly report. Deutsche Bank expects bitcoin to feature on most central banks' balance sheets, alongside gold, by 2030. The cryptocurrency rally this year has been driven by more supportive policies under U.S. President Donald Trump, demand from institutional investors, and bitcoin's deepening integration with global financial markets. https://www.reuters.com/sustainability/boards-policy-regulation/global-crypto-etfs-attract-record-595-billion-bitcoin-scales-new-highs-2025-10-07/

2025-10-07 11:06

Stablecoins seen as safer option amid currency crises Emerging markets face potential $1 trillion deposit flight Stablecoins could reach $1.22 trillion in developing economies by 2028 LONDON, Oct 7 (Reuters) - The boom in U.S. dollar-backed stablecoins, helped by Donald Trump's crypto policies, could suck $1 trillion worth of deposits out of emerging economy banks in the next few years, a report from Standard Chartered estimates. About 99% of all stablecoins are pegged to the dollar, which economists say effectively makes them dollar-based bank accounts and increasingly attractive in parts of the world prone to currency crises. Sign up here. Standard Chartered (STAN.L) , opens new tab, a bank renowned for operating in developing economies, said the desire to avoid savings being wiped out will drive individuals and companies to put their money into stablecoin wallets instead of banks. "We see the potential for $1 trillion to leave emerging market banks and move into stablecoins in the next three years or so," the bank's report published on Monday said. While new U.S. crypto laws aim to mitigate deposit flight by prohibiting U.S.-compliant stablecoin issuers from paying direct yields - the equivalent of an interest rate on a bank account - Standard Chartered said that developing world populations will still want them. "Return of capital matters more than return on capital," the bank said, estimating that current trends point to the use of stablecoins as savings across developing economies jumping to $1.22 trillion by the end of 2028, from around $173 billion now. While a large number in absolute terms, its analysts stressed that would still represent just 2% of bank deposits in the 16 countries they deem at "high-risk" of this kind of deposit flight. They include the likes of Egypt, Pakistan, Bangladesh and Sri Lanka, Morocco and Kenya which have all suffered currency crashes in recent years, but also heavyweight economies such as Turkey, India, China, Brazil, South Africa. "Many of them, with the key exception of China, have twin deficits that leave them relatively vulnerable to global risk aversion and sudden sharp currency depreciation," the report said. Policymakers in a number of countries have already voiced concerns about stablecoins, including the risk they could facilitate capital flight if a crisis breaks out, and also make it harder to stop. There is little data about who holds stablecoins but the CEO of the world's largest stablecoin issuer Tether , opens new tab said last year that emerging markets were the source of much its recent growth due the perception of its USDT coin as a dollar-like asset. Most emerging market central banks, meanwhile, are eyeing digital versions of their fiat currencies, although economists point out that they too are likely to attract money away from commercial banks given they are effectively government backed. https://www.reuters.com/business/finance/stablecoins-could-suck-1-trillion-em-banks-next-three-years-standard-chartered-2025-10-07/