2026-01-20 05:59
10 witnesses to be called for criminal damage charge against Chinese ship captain Eight other witnesses to testify for additional two charges Case adjourned until February 11, when plea is expected HONG KONG, Jan 20 (Reuters) - A lawyer for a Chinese captain of a Hong Kong-registered ship alleged to have damaged undersea cables in the Baltic Sea said on Tuesday 18 witnesses would be called to testify in the case. Wan Wenguo, the captain of the container ship NewNew Polar Bear, is alleged to have caused "criminal damage" to an underwater natural gas pipeline and submarine telecom cables between Finland and Estonia on October 8, 2023, according to a Hong Kong charge sheet reviewed by Reuters. Sign up here. The Baltic Sea region has been on high alert for sabotage after a series of outages of power cables, gas pipelines and telecoms since Russia began its full-scale invasion of Ukraine in early 2022. Wan, 43, appeared in court on Tuesday but his lawyer, Jerry Chung, said more time was needed to go through documents before entering a plea. The case was adjourned to February 11. Chung told reporters 10 witnesses would testify for the criminal damage charge, including crew members, Hong Kong officials, and two experts in maritime matters. The maximum punishment is two years in prison, Chung added. The charge sheet stated that Wan had been "reckless" and "without lawful excuse damaged the property belonging to another". Finnish authorities allege the NewNew Polar Bear severed the subsea gas pipeline, the Balticconnector, which links Finland and Estonia under the Baltic Sea, by dragging its anchor along the seabed. Estonian police suspect the ship also damaged telecoms cables connecting Estonia to Finland and Sweden before hitting the pipeline. Wan's lawyer gave no details on what damages might be claimed and from whom, and said he was unaware of any other parties being prosecuted besides Wan. Wan also faces two charges of failing to ensure the ship complied with safety requirements applying to Hong Kong-registered ships worldwide, under the International Convention for the Safety of Life at Sea. Chung said these involved the disappearance of one anchor on the ship; and Wan's failure to report daily to his ship's company. For these two infractions, eight other witnesses would be called, Chung added. Wan did not apply for bail at his first hearing last May after his arrest, and has remained in custody. While the offences did not occur in Hong Kong waters, the ship's Hong Kong flag means it comes under the city's maritime regulatory jurisdiction globally. Hong Kong prosecutors have cooperated with Finnish and Estonian authorities on the case. Some European governments have accused Russia of hybrid attacks and sabotage of some critical infrastructure, but Moscow has denied such claims, saying the West is seeking to undermine Russian interests through an information war. https://www.reuters.com/world/china/hong-kong-call-10-witnesses-case-over-baltic-sea-undersea-cable-damage-2026-01-20/
2026-01-20 05:41
Trump's renewed tariff threat stokes trade-war fears $4,800/oz for gold within reach, says analyst Trump to meet global leaders at World Economic Forum, Davos Jan 20 (Reuters) - Gold climbed to another record high on Tuesday, scaling the unprecedented $4,700 an ounce milestone as escalating geopolitical tensions boosted safe-haven demand, while silver also broke above $95 for the first time. Spot gold gained about 2% to $4,757.33 per ounce by 01:52 p.m. ET (18:52 GMT), after reaching a record high of $4,765.93 earlier in the day. U.S. gold futures for February delivery settled 3.7% higher to $4,765.80/oz. Sign up here. "Gold has surged deeper into uncharted territory as investors hedge against rising political risk," said Fawad Razaqzada, market analyst at City Index and FOREX.com. "A softer dollar is providing an additional tailwind for precious metals, reinforcing gold's rally at a time when confidence in US assets appears to be wobbling." Wall Street's main indexes slid to a near three-week low on Tuesday, as investors were spooked by renewed tariff threats from President Donald Trump against Europe over control of Greenland. The remarks have heightened tensions ahead of Trump's expected meeting with global business leaders in Davos, Switzerland, on Wednesday. The U.S. dollar was set for its largest daily fall in over a month, making greenback-priced gold more affordable for overseas buyers. Gold, seen as a safe store of value during economic and political instability, soared 64% in 2025 and has added another 10% since the start of the year. The metal's rally has also been supported by expectations of U.S. interest rate cuts, which reduce the opportunity cost of holding non-yielding bullion. Markets are pricing in two rate cuts of 25-basis-points from mid-2026, while focus intensified after U.S. Treasury Secretary Scott Bessent said Trump could name a new Federal Reserve chair as early as next week. "$4,800 and $4,900 are the next obvious reference points (for gold), with the key $5,000 handle standing out as the longer-term psychological target," Razaqzada added. Spot silver slipped 0.3% to $94.38/oz, after hitting a record $95.87 earlier. The white metal added about 147% in 2025 and has gained more than 32% since the start of 2026. Elsewhere, spot platinum added 2.3% to $2,429.60/oz, while palladium was up 1.1% at $1,861.61. https://www.reuters.com/world/india/gold-holds-near-record-high-trade-war-risks-sour-global-sentiment-2026-01-20/
2026-01-20 05:35
A look at the day ahead in European and global markets from Tom Westbrook Fresh "sell America" sentiment put some pressure on Treasuries in Tokyo, while investors wait to see how U.S. markets respond to transatlantic tension over Greenland. Sign up here. U.S. markets resume trade, having been closed for a holiday when the rest of the world sold stocks and the dollar in response to President Donald Trump threatening tariffs on European allies opposing his push to control the Danish arctic territory. Trump has told Norway's Prime Minister by text that he no longer feels obliged to "think purely of Peace" because he was not awarded this year's Nobel Peace Prize. Ten-year Treasury yields rose 2.4 basis points in the Asia session and equity suggests a fall at the open. Investors have been exhausted by a year of shock-and-awe policy shifts and are now waiting on Europe's response, to be decided at an emergency meeting of EU leaders on Thursday to assess how scarifying Trump's threats may be. Citi on Tuesday downgraded European equities on the basis of uncertainty clouding the outlook for earnings. Elsewhere, Japanese yields speared higher and demand at a 20-year debt auction faltered as Prime Minister Sanae Takaichi takes Japan to an early election in February. Debt investors fret that talk of tax cuts and a mandate to spend don't bode well for the state of future government finances. The yen has missed out on much of a boost from this week's broad dollar selling and hovered near 158 to the dollar. Key developments that could influence markets on Tuesday: - U.S. markets return from holiday - World Economic Forum at Davos - German ZEW survey https://www.reuters.com/world/china/global-markets-view-europe-2026-01-20/
2026-01-20 05:34
MUMBAI, Jan 20 (Reuters) - The Indian central bank was likely selling dollars to limit the rupee's weakness on Tuesday, four traders told Reuters, as the currency remains within touching distance of a fresh record low. The rupee was last at 90.99 per dollar as of 11:00 a.m. IST, down 0.1% on the day. The currency declined to 91.0525 earlier in the day, threatening to breach its all-time low of 91.0750 hit last month. Sign up here. Some state-run banks were spotted offering dollars, but the quantity was very limited as has been the trend in the last two days, one of the traders said. https://www.reuters.com/world/india/indian-central-bank-likely-selling-dollars-curb-rupees-slide-traders-say-2026-01-20/
2026-01-20 05:26
TOKYO, Jan 20 (Reuters) - Strong winds and heavy snowfall forced the cancellation of dozens of airline flights headed to and from Japan's northwestern coast, the country's largest airlines said on Tuesday, including popular skiing regions. As of 1 p.m. local time (0400 GMT) ANA Holdings (9202.T) , opens new tab had cancelled 56 flights, affecting around 3,900 passengers, while as of 11 a.m. (0200 GMT), Japan Airlines (9201.T) , opens new tab had cancelled 37 flights, affecting 2,213 passengers. Sign up here. ANA said that it had not planned any flight cancellations for Wednesday but there would be delays at some airports due to continued adverse weather conditions. New Chitose Airport near Sapporo in Japan's northernmost prefecture of Hokkaido was the worst hit, making up 49 of ANA's 56 cancelled flights. The airport is the gateway to ski resorts such as Niseko, which has surged in popularity among international visitors looking to take advantage of some of the best powder skiing conditions in the world and capitalising on the weak yen. The Japan Meteorological Agency warned on Monday that between January 21 and 25 heavy snow would hit the north and west of the country along the Sea of Japan and advised against non-essential journeys. https://www.reuters.com/world/asia-pacific/japans-airlines-cancel-flights-blizzards-hit-northwest-coast-2026-01-20/
2026-01-20 05:26
SHANGHAI, Jan 20 (Reuters) - A wave of low temperature sweeping southern China brought rare snowfall to Shanghai on Tuesday, delighting residents of the financial hub as authorities warned that the frigid weather could last for at least three days. The city, on China's east coast, last experienced a heavy snowfall in January 2018. And just last week, Shanghai basked in unusually high temperatures of 20 degrees Celsius (68 degrees Fahrenheit), which local media said had caused some osmanthus trees to bloom. Sign up here. "The weather seems rather strange this year," said 30-year-old resident Yu Xin. "In general, the temperature fluctuations have been quite significant, so some people might feel a bit uncomfortable," she said. Chinese state media said other areas experienced sharp temperature drops, including Jiangxi and Guizhou provinces, which sit south of China's Yangtze and Huai rivers. Guizhou province is expected to experience temperature drops of 10 to 14 degrees Celsius, the Zhejiang News reported. Across China, authorities have also shut 241 sections of major roads in 12 provinces including Shanxi, Inner Mongolia and Heilongjiang due to snowfall and icy roads, state broadcaster CCTV said. https://www.reuters.com/business/environment/wave-low-temperature-brings-rare-snowfall-shanghai-2026-01-20/
