2026-01-20 11:06

Jan 20 (Reuters) - Ukraine's Chornobyl nuclear power plant, site of the world's worst civil nuclear catastrophe, lost all off-site power following widespread military activity on Tuesday morning, the UN atomic watchdog said in a post on X. The International Atomic Energy Agency (IAEA) said that several Ukrainian electrical substations vital for nuclear safety were affected by the military activity, while power lines to some other nuclear power plants were also impacted. Sign up here. Russia launched a combined drone and missile attack on Ukraine early on Tuesday, knocking out power and heating supplies to thousands of apartment buildings in Kyiv amid freezing temperatures, Ukrainian officials said. https://www.reuters.com/business/energy/iaea-says-ukraines-chornobyl-nuclear-plant-lost-all-off-site-power-tuesday-2026-01-20/

2026-01-20 11:02

Death toll from train crash rises to 41 Emergency services using cranes to lift worst-hit carriages Reports of 43 missing match provisional death toll: Interior Minister Survivor switched from one of worst-hit carriages at last minute ADAMUZ, Spain, Jan 20 (Reuters) - Spanish rescuers used cranes and heavy machinery on Tuesday to gain access to the worst-hit carriages in one of Europe's deadliest train crashes as they sought to recover the remains of people still missing in a disaster that left at least 41 dead. Spaniards are reeling following the first-ever deadly accident on the country's extensive high-speed rail network, which occurred on Sunday evening near Adamuz in Cordoba province, about 360 km (223 miles) south of Madrid. Experts say a faulty rail joint might be key to determining the cause of the derailment that led to the collision between two trains. Sign up here. Emergency services used heavy machinery overnight and in the early hours of Tuesday to level the ground around the front carriages of the train belonging to the state-run Alvia service, which had plunged down a 4-metre (13.1 ft) embankment after the crash, and the rear carriages of the train operated by private consortium Iryo, the Andalusian regional government said in a statement. Two cranes had been added to the rescue operation, the government said. Another body was found overnight within the wreck of the Iryo train, which had derailed and caused the crash, elevating the death toll to 41, authorities said on Tuesday. BODIES STILL TRAPPED IN THE WRECKAGE At least three bodies have been seen still trapped inside the wreckage, Interior Minister Fernando Grande-Marlaska told state broadcaster TVE late on Monday. He said that police had received 43 missing-person reports, which broadly matched the provisional death toll, but cautioned that the final number would not be confirmed until rescue teams had lifted the worst-affected carriages to see what was underneath. The collision occurred in rolling, olive-growing countryside in the foothills of a mountain range. The site is only reachable by a single-track road, making it difficult for rescuers to access it with heavy machinery. King Felipe and Queen Letizia were set to visit the site along with Deputy Prime Minister Maria Jesus Montero later on Tuesday, the government's public agenda showed. Survivors' accounts of tragedy and fortune were beginning to emerge on Tuesday. Lola Beltran told TVE she had changed carriages minutes before the crash, moving from her assigned seat in one of the hardest-hit cars to another carriage to sit with a colleague. "We had to break the windows with emergency hammers and pry open the doors to get out," Beltran said, describing scenes of chaos, screams, and torn-out seats. BROKEN RAIL: CAUSE OR CONSEQUENCE? Transport Minister Oscar Puente urged patience as investigators carried out their work. He said that all hypotheses were open but it was "very strange" for the rear of a train that was not exceeding the speed limit to derail on a straight stretch. The discovery of a broken rail was "one more piece of data" and did not, by itself, prove any single scenario, Puente said. The key question was whether it was the cause or the consequence of the derailment, he said. A photo circulated by Spanish police showing a broken rail with the marker "1" beside it strongly suggested the fracture occurred at, or very near, the initial point of the derailment, Scottish railway engineer and author Gareth Dennis told Reuters. He said the track just before the break looked intact, making it the likely trigger for the train leaving the tracks. Dennis also said the fracture appeared close to a rail weld, where steel beside the weld can be a weak spot. Cold weather can raise tensile stress as rails contract, he said. "The interesting question is why did the rail break," Dennis said, rather than why the train derailed. https://www.reuters.com/world/europe/spain-deploys-heavy-machinery-find-missing-bodies-among-train-crash-wreckage-2026-01-20/

2026-01-20 10:15

MUMBAI, Jan 20 (Reuters) - The Indian rupee extended losses to a fifth consecutive session on Tuesday as strong dollar demand continued to put pressure on the currency, while a fresh low was averted after likely central bank intervention. The currency opened a tad weaker and rapidly declined to 91.0525, its lowest level in a month, and drifted closer to its all-time low of 91.0750 set in mid-December. Sign up here. It ended at 90.9750 to a dollar, down 0.1% from 90.91 at Monday's close. The unit has lost around 1% in five sessions. Traders said that state-run banks likely sold dollars near the 91/rupee level, likely on behalf of the Reserve Bank of India, which pulled back the currency from near record lows. Bankers said that the RBI also mildly intervened on Friday and Monday, and it appeared that the central bank did not want the rupee to breach its record low, at least on Tuesday. "Despite genuine outflow pressure, the RBI held fort forcing dollar longs to pull back their bets," a trader with a state-run bank said. Meanwhile, growing tension between the U.S. and European Union is likely to keep the rupee under pressure, according to traders, after U.S. President Donald Trump threatened to rekindle a trade war with Europe over the future of Greenland. "Continued global uncertainties, including U.S. pressure on Greenland, have led to a risk-off sentiment. This, along with strong offshore hedging in USD/INR, has led to a test of 91 levels," said Sameer Karyatt, executive director and head of trading at DBS Bank India. He added that the rupee is expected to remain under depreciating pressure. Bankers expect the RBI to defend the record low unless a new wave of global factors flares up. https://www.reuters.com/world/india/rupee-down-fifth-day-dollar-demand-likely-rbi-offers-keeps-record-low-bay-2026-01-20/

2026-01-20 08:03

JAKARTA, Jan 20 (Reuters) - Indonesia's rupiah hit an all-time low against the U.S. dollar on Tuesday, even as the dollar index slid, amid renewed worries about central bank independence after the president picked his nephew among nominees for a senior central bank job. The rupiah has fallen nearly 2% against the dollar in January, placing it among the worst performing emerging Asian currencies, after dropping 3.5% in 2025. Tuesday's intraday trading low of 16,985 to the dollar was a record. Sign up here. WHY HAS THE RUPIAH BEEN WEAKENING? Historically the currency has been sensitive to global market sentiment, but domestic factors have also been at play over the past year. Data this month showed President Prabowo Subianto booked a 2025 budget deficit of 2.92% of GDP, the widest in two decades except for the COVID-19 pandemic. That renewed worries about fiscal sustainability in Southeast Asia's largest economy and triggered capital outflows in the bond market. The nomination of Prabowo's nephew Thomas Djiwandono as a member of Bank Indonesia's board has also reignited concerns about potential erosion of the central bank's autonomy. The 10-year bond yield hit 6.33% on Tuesday, its highest in more than months. Rising dollar demand for imports ahead of the fasting month of Ramadan, which starts in the third week of February, added to the recent weakness, some analysts said. WHY IS THE BUDGET DEFICIT A CONCERN? Indonesia's 2025 budget deficit is low compared to many countries, but its laws limit the annual deficit and public debt at 3% and 60% of GDP, respectively. These limits have underpinned investor confidence since the late 1990s Asian financial crisis. Since before Prabowo took office in October 2024, there has been speculation among investors and analysts about whether he will change the rules to make room for his costly welfare programmes, such as the $20-billion free meals programme and higher defence spending. Last year, foreign investors net sold roughly $6.4 billion worth of Indonesian government bonds, with the biggest selloff in September, when Prabowo abruptly removed the country's long-time finance minister Sri Mulyani Indrawati. The fiscal conservative was replaced by growth-focused economist Purbaya Yudhi Sadewa. WHAT ARE THE CENTRAL BANK INDEPENDENCE CONCERNS? Concerns about central bank independence also grew in September after BI said it would help fund some of Prabowo's programmes, such as affordable housing, under a so-called "burden sharing" deal with the finance ministry. Parliament is also deliberating on a bill with provisions to strengthen BI's role in supporting economic growth. Government and central bank officials have repeatedly denied any intervention in BI policymaking. After Djiwandono's nomination, Purbaya again offered an assurance that BI would stay independent and would not fund government programmes. BI has been in a monetary easing cycle since 2024, cutting interest rates by a total of 150 basis points to lift economic growth. BI is expected to keep rates unchanged on Wednesday to limit further rupiah pressure. WHERE IS THE RUPIAH HEADING? Some analysts believe the currency could remain under pressure this year, facing short-term headwinds from seasonal dollar demand for imports and dividend payments. However, they also said support could come from BI's pledge to continue intervention to defend it. BI had $156.5 billion in foreign exchange reserves at the end of 2025, close to an all-time high. That could rise once the government's plan to tighten rules on retention of export earnings takes effect. The finance minister said the rupiah would strengthen going forward, reflecting Indonesia's strong economic fundamentals. WHAT IS THE IMPACT ON INDONESIA'S ECONOMY? So far, the rupiah's weakness has had limited impact on inflation, which has kept within, or even, below the central bank's target range since mid-2023. However, continued weakness could hurt sectors that import a large share of raw materials, such as pharmaceuticals, cosmetics and steel, says Erwin Taufan of the Indonesian National Importers' Association. Manufacturing, finance, electricity and gas supply, and mining industries have the highest external debt in the private sector, BI figures show. Purbaya said the economic impact from the depreciation was "minimal". Typically, the rupiah's depreciation will also mean a higher fuel subsidy bill and external debt payment costs, that could further pressure the budget deficit. https://www.reuters.com/world/asia-pacific/why-has-indonesian-rupiah-hit-record-low-despite-dollar-weakness-2026-01-20/

2026-01-20 07:40

Jan 20 (Reuters) - India's GoodEnough Energy said on Tuesday that it has commissioned a 7 Gigawatt-hour (GWh) battery energy storage system (BESS), the country's largest, in the northern state of Uttar Pradesh. The company, founded in 2023 with an initial investment of 4.5 billion rupees ($49.4 million), plans to expand to make 25 GWh of BESS within three years, it said. Sign up here. Indian companies largely depend on imports from China for battery storage systems for clean energy projects. India is targetting 500 GW of non‑fossil power capacity by 2030 and requires an estimated 230 GWh of storage to stabilise its rapidly expanding green grid. In 2023, the country approved 94 billion rupees of funding to make BESS equipment, providing financial support of up to 40% of the capital cost. ($1 = 91.0213 Indian rupees) https://www.reuters.com/sustainability/climate-energy/indias-goodenough-energy-commissions-countrys-largest-battery-storage-system-2026-01-20/

2026-01-20 07:36

MILAN, Jan 20 (Reuters) - Global fund managers are the most bullish since July 2021, January's Bank of America survey showed on Tuesday, with growth optimism jumping and cash levels sinking to a record low 3.2%. BofA's Bull & Bear Indicator surged to a "hyper‑bull" 9.4, as investors held the least equity-correction protection since January 2018, according to the survey of 96 participants with $575 billion in assets under management. Sign up here. A net 38% expect a stronger economy, while recession fears fell to a two-year low and an economic "no-landing" became the base case for investors, the BoFA report said. Liquidity was seen as the best since 2021, and nearly half of respondents reported having no hedges against a sharp fall in equity prices. Geopolitics overtook an AI bubble as the top tail risk, and long gold was the most crowded trade. A long position is essentially a bet that an asset will rise in value. The survey was carried out between Jan 8 and Jan 15, before U.S. President Donald Trump threatened increasing tariffs on European allies until the United States is allowed to buy Greenland. https://www.reuters.com/markets/wealth/global-investors-hit-hyper-bull-hedging-collapses-says-bofa-survey-2026-01-20/