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On November 22, South African Minister of International Relations and Cooperation, Ramola, expressed concern over the escalating tensions between the United States and Venezuela, referring to Venezuela as an "ally and friend." Ramola stated that recent military activity in Latin America and the Caribbean poses a "clear threat" to regional peace, stability, and security, and that South Africa supports peaceful conflict resolution and respect for international law and national sovereignty.On November 22, local time, Alexander Khinstein, governor of the Kursk Oblast in Russias border region, stated via social media that a substation in the Borovsky district of Relysk was attacked by Ukrainian forces, causing two boiler rooms to cease operation and resulting in a power outage for approximately 3,000 customers. Preliminary reports indicate no casualties. There has been no response from Ukrainian authorities at this time.November 22 - At the Peak Aviation Global Technology Day held on November 22, it was learned that Peak Aviation has accumulated 2,000 eVTOL commercial orders, of which 300 are confirmed orders by the end of 2025.On November 22, ICBC Credit Suisse Asset Management issued an announcement regarding changes in senior management, stating that Yang Fan will serve as the companys General Manager effective November 21, 2025, and Zhang Hua will serve as the companys Deputy General Manager effective November 21, 2025. The announcement stated that the aforementioned changes were reviewed and approved by the 5th meeting of the Board of Directors of ICBC Credit Suisse Asset Management Co., Ltd. in 2025, and have been filed with regulatory authorities as required.November 22nd - Since Japanese Prime Minister Sanae Takaichi took office, market enthusiasm has rapidly subsided. In the past week, the market capitalization of Tokyo-listed stocks evaporated by approximately $127 billion, the yen continued to weaken, and Japanese bond yields soared. Even more unsettling for the market is the rapidly decreasing likelihood of a short-term interest rate hike by the Bank of Japan. Interest rate swap market data shows that the probability of maintaining the current interest rate in December has surged from about 30% before Takaichis election victory in early October to 80%. Rodrigo, a currency strategist at National Australia Bank, stated, "The market has become numb to verbal intervention from Japanese officials. The yen is becoming a toy in the hands of speculators." George, global head of foreign exchange research at Deutsche Bank, even warned that Takaichis spending plans could trigger disorderly capital flight. Meanwhile, Idana, an investment manager at First Eagle, frankly stated, "Considering tariffs and the current situation, the Japanese economy is actually performing well; now may not be the time to significantly increase fiscal stimulus."

EU May Revise Green Objectives to Abandon Russian Energy

Charlie Brooks

Apr 11, 2022 09:36

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Following Russia's invasion of Ukraine in February, the European Commission suggested that Europe reduce its reliance on Russian gas supplies by two-thirds this year and phase them out entirely by 2027.


In May, the Commission is expected to present a "Repower EU" proposal outlining how the union might phase out Russian fossil fuels.


"What we're going to do over the next few weeks is work on what I'm calling the Repower EU program, which includes accelerating the energy transition. Thus, in that framework, we may reconsider our objectives "Timmermans said this to journalists on a visit to Cairo.


Timmermans declined to provide specific numbers for potential revised standards, but said such an adjustment would result in a "greater proportion of renewable energy in 2030."


By 2030, the EU's current plans call for renewable energy to account for 40% of final consumption.


Egypt, which is hosting the COP27 climate conference in November and re-exports Israeli gas from LNG facilities on its Mediterranean coast, might assist the EU in diversifying its gas supplies, Timmermans said.


"If we can get more LNG in the area - and we'll have to wait and see how much Israel makes available - that would be a viable option," he added.


"At its heart, what I'm presenting is a long-term strategic collaboration that begins with LNG and swiftly expands to include renewable energy, particularly hydrogen," he continued.

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