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International News

International News (6893)

31
October

Norway raises military alert in response to Ukraine war

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Norway will put its military on a raised level of alert from Tuesday as it sharpens security in response to the war in Ukraine, the Nordic country's prime minister said on Monday.

Norway is now the biggest exporter of natural gas to the European Union, accounting for around a quarter of all EU imports after a drop in Russian flows.

"This is the most severe security situation in several decades," Prime Minister Jonas Gahr Stoere told a news conference.

"There are no indications that Russia is expanding its warfare to other countries, but the increased tensions make us more exposed to threats, intelligence operations and influence campaigns."

The armed forces will spend less time training and more time on operational duties, and the Home Guard, a rapid mobilisation force, will play a more active role, Defence Minister Bjoern Arild Gram said.

The air force had called off training in the United States with its F35 fighter jets, preferring to keep them in Norway, said the head of the armed forces, General Eirik Kristoffersen.

"We expect this situation to last for at least one year," Kristoffersen said.

Norway first deployed its military to guard offshore platforms and onshore facilities after leaks on the Nord Stream pipeline on Sept. 26 and has received support from the British, French and German navies.(Reuters)

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31
October

Battling cholera, Lebanon gets first vaccines, and sharp words, from France

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Lebanon took delivery on Monday of its first vaccines to combat a worsening cholera outbreak - together with sharply worded criticism of the crisis-hit country's crumbling public health infrastructure from donor nation France.

By Sunday, cases of cholera - a disease typically spread through contaminated water, food or sewage - stood at 1,447, with 17 deaths, since the first were recorded in the country a month ago, the health ministry said.

Lebanon had been cholera-free since 1993, but its public services are suffering under a brutal economic crisis now in its fourth year, while infighting among the country's faction-riven elite has paralysed its political institutions.

The outbreak has reached Beirut, but authorities say most cases remain concentrated where it started in the northern town of Bebnine, where health authorities have set up an emergency field hospital.

The vaccines would play "an essential role" in limiting the disease's spread, Health Minister Firass Abiad told reporters in the capital as he announced the first batch. He did not specify how many more were on the way.

Standing next to Abiad, the ambassador from former colonial power France said the delivery comprised more than 13,000 doses donated by her government, while urging Lebanese authorities to address the outbreak's causes.

"The origins of this epidemic, in which public health is at stake, must also be treated," Anne Grillo told reporters. The outbreak was "a new and worrying illustration of the critical decline in public provision of access to water and sanitary services in Lebanon."

In the Bebnine field hospital, two young boys sat next to each other on one hospital bed, while a mother waited anxiously to confirm if her son, lying limp on another bed and being treated by a doctor and a nurse, had also caught the disease.

Nearby, Syrian children in a makeshift refugee camp played in dirty water chocked with rubbish and medical waste and fed by an outflow from an open pipe.

The World Health Organization has linked cholera's comeback in Lebanon to an outbreak in neighbouring Syria, to where it had spread from Afghanistan via Iran and Iraq.(Reuters)

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31
October

OPEC+ 'only a phone call away' if world needs more oil - UAE minister

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The United Arab Emirates' energy minister said on Monday that OPEC+ is willing to provide the world with the oil it needs, and that if consumers require more, the alliance of top producers was "only a phone call away".

Suhail al-Mazrouei told a major industry event in Abu Dhabi that OPEC+, which groups the producer bloc with allies including Russia, can always be trusted to balance oil supply and demand. "We are only a phone call away if the requirements are there," he said.

OPEC+ faced one of its biggest clashes with the West after it agreed oil production cuts in October, a decision the U.S. administration called shortsighted. OPEC+ producers rallied around top oil exporter Saudi Arabia after the United States accused it of pushing members into the cut.

The group is expected to hold its next meeting in Vienna on Dec. 4, one day before an agreement by the Group of Seven countries to cap Russian oil sales at an enforced low price is due to go into effect.

Energy ministers and CEOs of top oil companies have meanwhile gathered in Abu Dhabi to discuss investment in oil and gas, crude markets, energy prices and economic growth at a time when Russia's invasion of Ukraine has shaken up the global oil trade.

Speaking at the conference on Monday, U.S. energy envoy Amos Hochstein said energy had to be priced to allow for economic growth, adding that more investment is needed in the oil and gas sector.

Investment from the United States and others is not enough, he stressed. "Regardless where you are on energy spectrum, we must all invest and innovate," he said.

Hochstein said the relationship between the United States and the UAE is "strong, long-standing and enduring". Reflecting on the spat with OPEC+, he told reporters: “People are allowed to have disagreements. It’s a lot less drama than people think.”

Saudi Arabia and the UAE, two of the world's biggest oil producers, are boosting output and refining, and working on clean hydrogen, Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday.

"We and the UAE are going to be the exemplary producers," he said.

The UAE is releasing its first revision of its energy plan in 2023, which will increase its green targets, Mazrouei said.

"We are expecting that this update will have more green sources of energy in it," he said. "We will see the target, but the expectation, I'm optimistic that we will raise up the contribution of renewables."

Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan al-Jaber said earlier that zeroing out hydrocarbon investment due to natural decline could lead to a loss of 5 million barrels of oil a day per year from current supplies.

"This would make the shocks we have experienced this year feel like a minor tremor," Jaber said.

The world needs maximum energy and minimum emissions, he said.

"Here are the hard facts: Global supply chains continue to be fragile. Geopolitics are now more complex, fragmented and polarised than ever," he said.(Reuters)

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31
October

Saudi Q3 GDP grows 8.6%, boosted by higher oil prices

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Saudi Arabia's gross domestic product expanded by 8.6% in the third quarter compared with the same period in 2021, according to initial government estimates on Monday, as the world's top oil exporter benefits from higher energy prices.

Growth was largely driven by a 14.5% increase in oil activities, the General Authority for Statistics said, while non-oil activities expanded 5.6%.

Second quarter real gross domestic product was up 12.2%, the kingdom reported in September, exceeding a flash estimate at the end of July of 11.8% growth on the back of higher oil prices.

2 minute readOctober 31, 20228:11 PM GMT+7Last Updated 2 hours ago

Saudi Q3 GDP grows 8.6%, boosted by higher oil prices

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[1/3] A view shows vehicles driving on a street in Riyadh, Saudi Arabia February 16, 2021. REUTERS/Ahmed Yosri

 
 

DUBAI, Oct 31 (Reuters) - Saudi Arabia's gross domestic product expanded by 8.6% in the third quarter compared with the same period in 2021, according to initial government estimates on Monday, as the world's top oil exporter benefits from higher energy prices.

Growth was largely driven by a 14.5% increase in oil activities, the General Authority for Statistics said, while non-oil activities expanded 5.6%.

Second quarter real gross domestic product was up 12.2%, the kingdom reported in September, exceeding a flash estimate at the end of July of 11.8% growth on the back of higher oil prices.

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The finance ministry separately reported on Monday Saudi Arabia's fiscal figures for the third quarter.

It recorded revenues of 301.87 billion riyals ($80.14 billion), a rise of 24% from the same period a year earlier.

Expenses rose 22% to 287.73 billion riyals in the third quarter, compared with the year earlier period.

It reported a budget surplus of 14.14 billion riyals for the third quarter, and oil revenues of 229.02 billion riyals.

Although revenues and expenses were higher year-on-year, there was a slight pullback compared with the second quarter, with revenues of 370.36 billion and expenses of 292.46 billion.

"The fiscal surplus narrowed in 3Q in quarterly terms on the back of lower revenue, both oil and non-oil, and despite a modest pullback in government spending from the 2Q level," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

"Nevertheless, Saudi is in position to realise a healthy fiscal surplus in 2022 with a strong yearly increase in oil revenue," Malik said.

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31
October

U.N.'s Black Sea grain deal continues without Russia

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Grain was flowing out of Ukraine at a record pace on Monday under an initiative led by the United Nations aimed at easing global food shortages despite Russia's decision to suspend its participation in the scheme.

Russia said on Saturday it was pulling out of the deal, which ensured safe passage of grain exports from three Ukrainian ports, after what it said was a major Ukrainian drone attack on its fleet in Crimea.

Other participants were pressing ahead with the deal despite Russia's withdrawal while France said it was working to boost Ukraine grain exports via land routes in conjunction with other European Union states.

Ukraine is one of the world's largest grain exporters and the conflict with Russia led to the closure of its seaports in February, driving up food prices and contributing to a steep rise in acute hunger across the globe.

The deal, signed on July 22, has helped ease the crisis with more than 9.5 million tonnes of corn, wheat, sunflower products, barley, rapeseed and soy exported under the pact.

A record volume of 354,500 tonnes of agricultural products was carried on vessels leaving Ukrainian ports on Monday as part of the Black Sea grain deal, a spokesperson for Odesa's military administration said.

"Civilian cargo ships can never be a military target or held hostage. The food must flow," tweeted Amir Abdullah, the U.N. official who coordinates the programme.

Turkey, which helped broker the deal, remained committed to the deal which involves the inspection of cargoes at a Joint Coordination Centre in Istanbul.

"Even if Russia behaves hesitantly because it didn't receive the same benefits, we will continue decisively our efforts to serve humanity," President Tayyip Erdogan said in a speech.

Russia said on Monday it would be risky for Ukraine to continue exporting.

"In conditions when Russia is talking about the impossibility of guaranteeing the safety of shipping in these areas, such a deal is hardly feasible, and it takes on a different character - much more risky, dangerous and unguaranteed," Kremlin spokesman Dmitry Peskov told reporters.

WHEAT PRICES CLIMB

Wheat prices rose on Monday, climbing around 6% to $8.78 a bushel in Chicago, but remained far below a peak of $13.63-1/2 set in early March shortly after the conflict began.

The strong pace of wheat exports from Russia, which harvested a record crop this summer, has helped to bolster supplies on the world market.

Consultancy Sovecon on Monday estimated that Russia would export 4.5 million tonnes of wheat in October, up from 2.8 million in the same month last year.

Corn prices rose more than 2% to $6.96 a bushel in Chicago on Monday while soybean oil rose about 1.6% to 72.96 cents per lb.

Ukraine is a major exporter of corn and there were concerns that shipments to the European Union could be disrupted.

"As far as Europe is concerned, corn is a bigger issue than wheat as we are getting into peak season for Ukrainian corn in November," said one grain trader said.

Analysts warned that although global agricultural commodity prices have come off record highs in recent months, local retail food prices remain high and could now face further upside.

"Typically, it takes about two months for higher grain prices to filter through the supply chain and impact consumers at the retail level," said a Sydney-based analyst.

"But food processors do not have much forward coverage, so it is likely to be a lot quicker."(Reuters)

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31
October

National research agency forms CSIRT to prevent cyber attacks

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The National Research and Innovation Agency (BRIN) formed and unveiled the Computer Security Incident Response Team (CSIRT) within the agency to protect the electronic system security from cyber threats and attacks.

The CSIRT had actually existed before, but it had not been integrated, Head of BRIN Laksana Tri Handoko stated during the BRIN-CSIRT virtual unveiling on Monday.

BRIN-CSIRT was formed owing to BRIN's cooperation with the National Cyber and Encryption Agency (BSSN). The agency will continue to boost its capability to bolster cybersecurity within BRIN, he remarked.

Moreover, the BRIN is ready to become BSSN's partner for cybersecurity from the standpoint of technological, information system, research and innovation result, as well as human resources.



Meanwhile, during the event, Head of BSSN Hinsa Saburian noted that the most frequent attacks occurring in BRIN are malware attacks and traffic anomaly status.

"To this end, strengthening the electronic system security in BRIN is necessary, including in the handling of cyber incidents," he remarked.

The formation of BRIN-CSIRT is expected to form a safe and orderly electronic system that can support the realization of a reliable, professional, and innovative BRIN with integrity.




Moreover, through the formation of CSIRT, BRIN is also expected to improve its capability in cybersecurity incident handling within its institution. To this end, the BSSN is ready to support the strengthening of the cyber incident handling capability in BRIN.

The high usage of information and communication technology is directly proportional to security risks and threats.

As a result, an organization should always anticipate cyber threats and attacks through cyber incident handling readiness by forming the CSIRT.

The CSIRT should be able to resolve cyber security challenges by improving the capability of the team that has been formed.

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30
October

Biden offers condolences after deadly stampede in South Korea

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U.S. President Joe Biden offered his deepest condolences after at least 149 people were killed in a stampede at a Halloween event in South Korea, calling the incident tragic.

"Jill and I send our deepest condolences to the families who lost loved ones in Seoul. We grieve with the people of the Republic of Korea and send our best wishes for a quick recovery to all those who were injured," he wrote, referring to his wife, first lady Jill Biden.

"The Alliance between our two countries has never been more vibrant or more vital – and the ties between our people are stronger than ever. The United States stands with the Republic of Korea during this tragic time." (Reuters)

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30
October

Egypt's pound sinks further against dollar after flexibility pledge

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Egypt's pound fell about 3% to 23.8 against the dollar as trading resumed on Sunday, Refinitiv data showed, after authorities committed to a flexible exchange rate under an International Monetary Fund support deal.

The pound slid about 14.5% to 23.1 against the dollar on Thursday after they pledged a "durably flexible" exchange rate in conjunction with a staff-level agreement for a $3 billion IMF extended fund facility.

Egypt's currency has been held steady or allowed to depreciate only gradually following previous sharp devaluations in 2016 and this March. It has weakened about 34% against the dollar so far this year.

In a note on Thursday, JP Morgan said it considered the pound to be fairly priced, and that it expected a gradual adjustment to 23.5 to the dollar by the end of the year.

"We expect USD/EGP to remain under pressure in the coming days as it finds a clearing level, but we view (Thursday's) adjustment as sufficient to close most of the external imbalances," the note said.

Egypt has been struggling to cope with the impact of the war in Ukraine, which led to rapid outflows of portfolio investments, a hike in the commodity import bill and a drop in tourism revenues.

It introduced a mandatory requirement for importers to use letters of credit, leading to a sharp slowdown in imports and bottlenecks at ports.

The central bank has said that requirement will be gradually phased out by December.

"Moving forward, it is essential that Egypt follows through on its promise for currency flexibility rather than managing future deprecation and allowing imbalances to build back up," said Patrick Curran, a senior economist at Tellimer.

The IMF programme could catalyze enough funds to meet external funding needs estimated at $40 billion over the coming year, with devaluation and an out-of-cycle 200 basis point interest rate hike on Thursday helping to contain financing needs by dampening import demands, Curran said. (Reuters)

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30
October

Foreign leaders offer condolences over deadly South Korea crush

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Foreign leaders expressed condolences over the deadly crowd surge in Seoul's Itaewon district, with more than 20 foreign nationals from 15 countries among those killed in the crush in a popular nightspot.

South Korea's President Yoon Suk-yeol declared a period of national mourning on Sunday after the Halloween crush on Saturday night killed some 153 people.

South Korea's foreign ministry put the total at 26 foreign nationals killed from 15 countries. A ministry official told Reuters the dead included people from China, Iran and Russia.

Two Japanese nationals, a woman in her twenties and another woman between the age of 10 and 19, were also confirmed to have died in the crush, an official at Japan's foreign ministry said.

"I am greatly shocked and deeply saddened by the loss of many precious lives, including young people with a bright future, as a result of the very tragic accident," Japanese Prime Minister Fumio Kishida said in a statement.

At least four Chinese nationals were among those killed, Xinhua news agency reported, citing the Chinese embassy in Seoul.

"On behalf of the Chinese government and people, I would like to express deep condolences to the victims and extend sincere condolences to their families and the injured," President Xi Jinping said in a letter, according to Xinhua.

Xi said some Chinese citizens were also injured, and hoped South Korea "will make every effort to cure and deal with the aftermath."

Four Russian citizens died, the RIA news agency reported, citing the Russian embassy in South Korea.

"Please convey words of sincere sympathy and support to the families and friends of the victims, and also wishes for the swift recovery of all the injured," President Vladimir Putin said in a Telegram to Yoon.

U.S. President Joe Biden and first lady Jill Biden sent their condolences, writing: "We grieve with the people of the Republic of Korea and send our best wishes for a quick recovery to all those who were injured."

British Prime Minister Rishi Sunak tweeted: "All our thoughts are with those currently responding and all South Koreans at this very distressing time."

One Norwegian citizen was confirmed to have died in the crush, a spokesperson for Norway's foreign ministry said, declining to provide any details.

"I am devastated by news of the terrible incident in connection with Halloween celebrations in Seoul," Norwegian Foreign Minister Anniken Huitfeldt said in a statement. "My deepest condolences to families and friends who lost their loved ones. My thoughts are with those affected by this tragedy."

Canadian Prime Minister Justin Trudeau tweeted: "I’m thinking of everyone affected by this tragedy, and wishing a fast and full recovery to those who were injured."

Pope Francis, addressing the faithful in St Peter's Square on Sunday, said "we also pray ... for those, especially young people, who died overnight in Seoul due to the tragic consequences of a sudden stampede."

"Italy is close to the Korean people in this moment of great sorrow and profound sadness," Italian Prime Minister Giorgia Meloni said on Twitter. (Reuters)

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30
October

Suspension bridge collapses in India, hundreds fall in river

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Hundreds of people fell into a river when a suspension bridge in India's western Gujarat state collapsed on Sunday and a number of them have been hurt, officials said.

More than 400 people were on the bridge in the town of Morbi at the time and were plunged into the Machchu River, local TV channel Zee News said.

"People fell in the river and there are casualties. We don’t have the numbers yet. The rescue operations are going on," Rahul Tripathi, a senior police official at the scene, told Reuters.

Footage broadcast by the TV channel showed dozens of people clinging onto the cables of the collapsed bridge as emergency teams sought to rescue them.

The 230-metre historic bridge was built during British rule in the 19th century. It had been closed for renovation for six months and was reopened for the public last week.

Prime Minister Narendra Modi, who is in his home state Gujarat for a three-day visit, said he has directed the state chief minister to mobilise teams urgently for the rescue operation. (Reuters)

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