2026-01-21 07:45
LONDON, Jan 21 (Reuters) - EDF's British arm said a life extension for its Sizewell B nuclear plant is technically possible but negotiations are ongoing with the UK government to enable the required investment. Sizewell B nuclear plant in Suffolk supplies nearly 1.2 gigawatts of electricity to the grid and is the only pressurised-water reactor in the UK. Sign up here. The rest of the nuclear fleet are advanced gas-cooled reactors (AGR), many of which are nearing the end of their life or have been retired. A few of the AGRs have had their life extended for a few more years amid concerns that Britain faces a looming supply gap due to the age of its nuclear fleet. EDF and Centrica want their remaining AGRs to operate at least until 2030. Investment to support that would cost 1.2 billion pounds over the next three years, EDF said. "Work continues to agree a commercial model that is required to support a 20-year Sizewell B life extension (2035-2055) and unlock 800 million pounds of investment in the station," EDF Energy said in a statement. https://www.reuters.com/business/energy/sizewell-b-nuclear-plant-extension-possible-investment-needed-edf-energy-says-2026-01-21/
2026-01-21 07:42
JAKARTA, Jan 21 (Reuters) - Indonesia's central bank held its key policy rates steady on Wednesday, as expected, saying the level was supportive of economic expansion while remaining consistent with its goal to anchor the rupiah, which hit a record low a day earlier. Bank Indonesia (BI) kept the benchmark 7-day reverse repurchase rate (IDCBRR=ECI) , opens new tab at 4.75%, where it has been since September, as unanimously anticipated by 26 economists surveyed by Reuters. Sign up here. The bank also left unchanged its overnight deposit facility and lending facility rates (IDCBIL=ECI) , opens new tab at 3.75% and 5.50%, respectively. BI cut interest rates by a total of 150 basis points between September 2024 to September 2025. https://www.reuters.com/world/asia-pacific/indonesia-central-bank-keeps-rates-unchanged-amid-rupiah-weakness-2026-01-21/
2026-01-21 07:24
MUMBAI, Jan 21 (Reuters) - India's fertiliser imports for the current fiscal year are expected to surge 76% from a year earlier to a record $18 billion, government and industry officials said on Wednesday as consumption jumped after heavy rains prompted farmers to expand their crop areas. "There has been a sharp rise in urea and DAP (Diammonium Phosphate) imports this year, which is pushing up the overall fertiliser import bill," said a government official, who declined to be named because they were not authorised to speak publicly. Sign up here. In the first nine months of the fiscal year that ends in March, India's fertiliser imports surged 71% from a year earlier to $13.98 billion. In the March quarter, a large volume of urea and other fertiliser shipments is expected to land, which will cost at least another $4 billion, the official said. India spent $10.23 billion on fertiliser imports in the last fiscal year after hitting an all-time high of $17.21 billion in 2022-2023 when global prices surged following Russia's invasion of Ukraine. Fertiliser consumption is expected to rise by at least 5% this year from a year earlier, as ample monsoon rainfall encouraged farmers to increase planting, said P.S. Gahlaut, managing director of Indian Potash, a leading importer. India recorded 8% above-average rainfall during the June–to-September southwest monsoon, followed by precipitation that was 49% higher than normal in October, providing ample soil moisture for the sowing of winter crops like wheat, rapeseed and chickpeas. Indian farmers have so far planted winter-grown crops on 65.23 million hectares since sowing began on October 1, up 3.3% from a year earlier, data from the agricultural ministry showed. "Urea consumption has gone up this year because of good back-to-back monsoon rains and strong rice acreage," said S. Sankarasubramanian, chairman of the Fertiliser Association of India, an industry body representing fertiliser producers. "Maize production has also pushed up urea consumption." Urea imports are expected to rise as much as 61% from a year earlier to 9 million metric tons, while DAP imports could jump 52% to 7 million tons, Sankarasubramanian said. India imports urea and DAP mainly from Oman, Russia, China, Saudi Arabia and Morocco. https://www.reuters.com/world/china/india-fertiliser-imports-set-record-18-billion-this-fiscal-year-2026-01-21/
2026-01-21 07:16
LONDON, Jan 21 (Reuters) - The pound held steady on Wednesday, after data showed UK inflation picked up more than expected in December, which could lower the chances of more aggressive rate cuts from the Bank of England this year. Geopolitical tensions have dominated activity in the currency market this week, overshadowing even economic data, as the prospect of another trade war between the United States and Europe has prompted investors to hedge against this risk by selling U.S. assets, including the dollar against the pound. Sign up here. British inflation rose by more than expected in December, pushed higher by air fares and tobacco prices, but the fastest rate of price growth among the world's big, rich economies is still likely to slow sharply in the coming months. Sterling traded at $1.3433, showing little change on the day or from levels traded right before the inflation report. The greenback rose against the euro and safe-haven Swiss Franc after a two-day U.S. asset selloff as investors await U.S. President Donald Trump's speech at Davos. Investors held steady on their bets on the Bank of England cutting interest rates later this year with services price inflation, which is closely watched by the central bank, edging up in line with analysts' forecasts. Against the euro , the pound also held steady at 87.20 pence, after falling 0.63% the day before in its biggest daily drop since early August. "Sterling’s underperformance yesterday was, in our view, primarily mirroring the risks of importing bond volatility for a currency that recently experienced periods of negative correlation with back-end yields on fiscal worries," said Francesco Pesole, forex strategist at ING. "Calmer markets this morning mean euro/pound may face some downward pressure and return below 0.870," he added. Data from the Office for National Statistics showed on Tuesday Britain's jobs market weakened in November, potentially easing the Bank of England's pressures. "That lack of reaction (of the pound to jobs data) though means the market still looks under-priced for BoE rate cuts ahead," said Derek Halpenny, head of research global markets at MUFG. https://www.reuters.com/world/uk/sterling-holds-firm-after-uk-data-shows-pickup-inflation-2026-01-21/
2026-01-21 07:11
BANGKOK, Jan 21 (Reuters) - Thailand will introduce a cap on gold trading by January 29 in a bid to stabilise its currency, Bank of Thailand Governor Vitai Ratanakorn told reporters on Wednesday. Trading will be capped at between 50 million to 100 million baht ($1.6 million to $3.2 million), he said. Sign up here. The baht has gained about 1.0% against the dollar so far this year after a 9% rise in 2025, posing a threat to the competitiveness of the export and tourism sectors. The central bank wants the baht to weaken and has intervened in the market to try to reduce volatility, Vitai said. ($1 = 31.1 baht) https://www.reuters.com/world/asia-pacific/thailand-introduce-gold-trade-cap-curb-baht-rise-central-bank-chief-says-2026-01-21/
2026-01-21 07:09
No injuries or damage reported, the fire was extinguished Ukraine has intensified strikes on Russia's energy facilities Moscow continues winter campaign against Ukraine's power system MOSCOW, Jan 21 (Reuters) - Ukrainian drone fragments ignited a fire at the Afipsky oil refinery in Russia's southern Krasnodar region, but nobody was hurt, there was no damage, and the fire is now out, a local emergencies centre said early on Wednesday. The refinery, which has been frequently attacked by Ukrainian drones in recent months as part of Kyiv's campaign to degrade Russia's vast energy infrastructure, is mostly focused on exports. It processed 7.2 million metric tons of crude oil (144,000 barrels per day) in 2024. Sign up here. Moscow has stepped up its own winter campaign against Ukraine's battered energy system while continuing to grind forward on the battlefield. Separately, Ukrainian drones struck various towns in southern Russia, injuring 11 people and prompting the evacuation of several residents, local officials said on Wednesday. https://www.reuters.com/world/russia-says-fire-put-out-afipsky-oil-refinery-after-ukrainian-drone-attack-2026-01-21/
