2025-12-07 08:02

ABU DHABI, Dec 7 (Reuters) - U.S.-based Guggenheim Investments, with assets of about $357 billion, is actively considering an office in Saudi Arabia and wants to capitalise on investment opportunities in infrastructure and transportation as part of its expansion in the Gulf region. The firm has an office in Dubai, the region's top financial and trade hub, and is in the process of getting licensed in Abu Dhabi, the UAE's oil-rich capital city and home to sovereign wealth funds managing around $2 trillion. Sign up here. "We are very, very positive on the region," Anne Walsh, chief investment officer at Guggenheim Partners Investment Management, told Reuters on the sidelines of the Milken Institute's Middle East and Africa summit in Abu Dhabi. "And to be a leader in artificial intelligence and technology investment, which I see amongst the countries in the region, and the ability to harness energy, both fossil fuels and others, here in the region is going to be strong as well to support that technology business. So I see a great deal of opportunity." Asked whether Guggenheim was looking at Riyadh, Walsh said the company was in "active due consideration, yes." "And, you know, we are looking to deploy capital in Saudi Arabia as well. So not just with an office, but to actually make investments, and particularly from our transportation equipment and infrastructure investing. That makes a lot of sense to us." Saudi and U.S. officials touted billions of dollars in new investments and growing financial ties between the two countries in November. Gulf states have accelerated efforts to diversify their economies away from hydrocarbons for longer-term sustainable growth, investing heavily in non-oil sectors like financial services, tourism, technology and manufacturing. Earlier this year, Guggenheim Investments became a strategic partner of the Future Investment Initiative Institute, which organises Riyadh's flagship annual investment conference. https://www.reuters.com/world/middle-east/asset-manager-guggenheim-plans-saudi-presence-part-gulf-investment-push-2025-12-07/

2025-12-07 06:52

MUMBAI, Dec 7 (Reuters) - India's clean energy ministry on Sunday said it had not issued any advisory to pause or halt new financing for the sector. The clarification came after Reuters reported on Friday that the ministry had urged lenders to proceed slowly in financing new solar module plants because supply had exceeded demand. Sign up here. The clean energy ministry's letter rattled solar manufacturers in the country, with many raising concerns that the move could choke financing for the entire sector. On Sunday, the Ministry of New and Renewable Energy said that it had asked the finance ministry to advise lenders to adopt a “calibrated and well-informed approach” when evaluating proposals for additional standalone solar photovoltaic module capacity, citing oversupply risks. It added that the advisory was not intended to stop funding for the entire clean energy sector. “This broad-based caution, if applied without distinction, could hurt solar cell manufacturing,” said Chetan Shah, the chairman and managing director of Solex Energy. “Restricting financing now will disrupt under-construction projects and deepen reliance on imported cells," he said. Several Indian firms ramped up module production in recent years, betting on exports to the U.S. But higher American tariffs and tighter scrutiny of Indian shipments for Chinese-origin components have hit exports, raising fears of a glut at home. India’s module capacity is projected to surge by a third to 200 gigawatts (GW) in the next few years, while cell output could quadruple to 100 GW, according to the clean energy ministry. The ministry remained committed to strengthening solar manufacturing through policy support and infrastructure development, it said on Sunday. https://www.reuters.com/sustainability/boards-policy-regulation/india-says-no-advisory-stop-clean-energy-funding-2025-12-07/

2025-12-07 01:46

Dec 7 (Reuters) - Russian forces launched an overnight combined air strike on infrastructure in the central Ukrainian city of Kremenchuk, causing power and water outages, its mayor Vitalii Maletskyi said on Sunday. Located on the Dnipro River, Kremenchuk is a major industrial hub and home to one of Ukraine's biggest oil refineries. The city has been repeatedly hit by Russian missiles, including a 2022 strike on a crowded shopping mall that killed at least 21 people. Sign up here. Maletskyi said in a social media post that details of consequences of the strike would be released later on Sunday after damage assessment is completed. City services were working to restore electricity, water and heating in districts where supplies were disrupted, he added. Russia has intensified long-range strikes on Ukraine's power, heating and water infrastructure ahead of winter and seeking to sap public morale and disrupt industry after previous cold seasons in the nearly four-year war saw nationwide blackouts and emergency rationing. A photo posted by the mayor showed a large blaze engulfing what looked like industrial buildings at night. "We will restore everything," he wrote. Reuters could not independently verify Maletskyi's report. Ukraine's Air Force warned several times overnight on its Telegram messaging that the city was under threat from Russia's drone and missile attacks. https://www.reuters.com/world/russian-strike-hits-ukrainian-city-kremenchuk-cutting-utilities-mayor-says-2025-12-07/

2025-12-06 23:36

WASHINGTON, Dec 6 (Reuters) - U.S. President Donald Trump has signed an executive order to establish food supply chain security task forces in the Justice Department and the Federal Trade Commission (FTC) to address risks from price fixing and anti-competitive behavior, the White House said on Saturday. "My Administration will act to determine whether anti-competitive behavior, especially by foreign-controlled companies, increases the cost of living for Americans and address any associated national security threat to food supply chains," Trump said in the order. Sign up here. The attorney general and the FTC chairman may bring enforcement actions and propose new regulatory approaches if they uncover anti-competitive behavior during the investigation, according to the order. https://www.reuters.com/business/retail-consumer/trump-signs-order-create-food-supply-chain-task-forces-protect-competition-2025-12-06/

2025-12-06 23:17

SYDNEY, Dec 7 (Reuters) - Australian authorities on Sunday downgraded alerts for wildfires that have burnt through thousands of hectares of bushland in the country's most populous state, destroying properties and infrastructure. More than 60 wildfires were burning in New South Wales late on Sunday, a day after they destroyed at least 12 homes in the state's Central Coast Region, about 45 km (30 miles) north of the state capital Sydney, Australia's largest city. The region is home to more than 350,000 people. Sign up here. The state's Rural Fire Service said the fires no longer posed an immediate danger to residents. The alerts were downgraded to "advice" level, the second-lowest danger rating. Prime Minister Anthony Albanese, speaking on Australian Broadcasting Corporation television on Sunday, said it was fortunate no lives were lost in the emergency. "This summer, of course, like all summers it would appear in recent times, is going to be a difficult one," Albanese said. Authorities have warned of a high-risk bush fire season this Australian summer with increased risk of extreme heat forecast for large swaths of the country, after several quiet seasons. Federal and New South Wales Labor governments said in a statement that disaster assistance was activated for six state regions hit by fires, which sparked extreme heat on Saturday. "Initial assessments indicate a number of homes have been destroyed with extensive damage to more private property, critical infrastructure, fencing, agricultural assets and National Parks," the statement said, adding that the extent of damage would become clearer as impact assessments were done. The aid included "immediate financial help as well as clean-up, rebuilding and recovery assistance," according to the statement. New South Wales is one of the most wildfire-prone regions in Australia, with the risk increasing due to climate change. Australia's "Black Summer" fires of 2019-2020 destroyed an area the size of Turkey and killed 33 people. https://www.reuters.com/business/environment/australia-activates-disaster-relief-wildfire-hit-new-south-wales-state-2025-12-06/

2025-12-06 11:48

Dec 6 (Reuters) - Ukraine's Zaporizhzhia nuclear power plant temporarily lost all off-site power overnight, the International Atomic Energy Agency said on Saturday, citing its Director General Rafael Mariano Grossi. The nuclear plant, Europe's largest, has been under Russian control since March 2022, when Russian forces overran much of southeastern Ukraine. It is not currently producing electricity but relies on external power to keep the nuclear material cool and avoid a meltdown. Sign up here. The plant was reconnected to a 330-kilovolt (kV) power line after a half-hour outage, the IAEA said. A 750 kV line that was also disconnected earlier was back in operation, the Russian-installed management of the plant said later on Saturday, and stable power supply had been restored. Radiation levels remained normal, the management said. Widespread military activities overnight affected Ukraine's electricity grid and prompted operating nuclear power plants (NPPs) to reduce output, the IAEA added. https://www.reuters.com/business/energy/ukraines-zaporizhzhia-nuclear-plant-temporarily-lost-power-overnight-iaea-says-2025-12-06/