2025-03-17 12:57

US carries out new airstrikes on Yemen, Al Masirah TV says US responds to Houthis' threats to international shipping New wave of airstrikes began on Saturday Houthi-run health ministry says at least 53 killed Israeli airstrike kills three people in Gaza, medics say WASHINGTON/ADEN, March 17 (Reuters) - U.S. President Donald Trump said on Monday he would hold Iran responsible for any attacks carried out by the Houthi group that it backs in Yemen, as his administration expanded the biggest U.S. military operation in the Middle East since Trump returned to the White House. Responding to the Houthi movement's threats to international shipping, the U.S. launched a new wave of airstrikes on Saturday. On Monday, the Red Sea port city of Hodeidah and Al Jawf governorate north of the capital Sanaa were targeted, Houthi-run Al Masirah TV said. Sign up here. "Every shot fired by the Houthis will be looked upon, from this point forward, as being a shot fired from the weapons and leadership of IRAN, and IRAN will be held responsible, and suffer the consequences, and those consequences will be dire!" Trump said on his Truth Social platform. The White House said that Trump's message to Iran was to take the United States seriously. The Pentagon said it had struck over 30 sites so far and would use overwhelming lethal force against the Houthis until the group stopped attacks. The Pentagon's chief spokesperson, Sean Parnell, said the goal was not regime change. Lieutenant General Alex Grynkewich, director of operations at the Joint Staff, said the latest campaign against the Houthis was different to the one under former President Joe Biden because the range of targets was broader and included senior Houthi drone experts. Grynkewich said dozens of Houthi members were killed in the strike. The Biden administration is not believed to have targeted senior Houthi leaders. The Houthi-run health ministry said on Sunday that at least 53 people have been killed in the attacks. Five children and two women were among the victims and 98 have been hurt, it said. Reuters could not independently verify those casualty numbers. The Houthis, an armed movement that has taken control of the most populous parts of Yemen despite nearly a decade of Saudi-led bombing, have launched scores of attacks on ships off its coast since November 2023, disrupting global commerce. One U.S. official told Reuters the strikes might continue for weeks. Washington has also ramped up sanctions pressure on Iran while trying to bring it to the negotiating table over its nuclear program. An Emirati official last week passed on a letter from Trump, who took office in January, proposing nuclear talks with Tehran - a proposal that Supreme Leader Ayatollah Ali Khamenei rejected as "deception" by Washington. Iranian foreign ministry spokesperson Esmaeil Baghaei said on Monday that Tehran would respond to the letter "after full scrutiny" of it. The Houthis say their attacks, which have forced companies to re-route ships to longer and more expensive journeys around southern Africa, are in solidarity with Palestinians as Israel strikes Gaza. The U.S. and its allies characterise them as indiscriminate and a menace to global trade. Houthi leader Abdul Malik al-Houthi said on Sunday the militants would target U.S. ships in the Red Sea as long as the U.S. continues attacks on Yemen. Under the direction of al-Houthi, who is in his 40s, the ragtag group has become an army of tens of thousands of fighters and acquired an arsenal of armed drones and ballistic missiles. Saudi Arabia and the West say the arms come from Iran. Tehran denies this. While Iran champions the Houthis, the Houthis deny being puppets of Tehran, and experts on Yemen say they are motivated primarily by a domestic agenda. The Houthis' military spokesman, without providing evidence, said in a televised statement early on Monday that the group had launched a second attack against the U.S. aircraft carrier USS Harry S. Truman in the Red Sea. 'AXIS OF RESISTANCE' The Houthis are part of what has been called the "Axis of Resistance" - an anti-Israel and anti-Western alliance of regional militias that also includes the Palestinian militant group Hamas and Lebanon's Hezbollah and is backed by Iran. Israel has severely weakened many of Iran's regional allies since being attacked by Hamas gunmen in October 2023. Israel has assassinated the top Hamas and Hezbollah leaders, and the fall of another Iranian ally, Syria's Bashar al-Assad, also dealt a blow to Tehran. But the Houthis are still standing, along with pro-Iranian militias in Iraq. In further violence in the Middle East, an Israeli airstrike killed three Palestinian men in Rafah in the southern Gaza Strip, local medics said on Monday. The three had left their homes to collect firewood, family members said. Israel's military, which began its Gaza campaign after the deadly Hamas-led attacks in October 2023, said it had conducted attacks in central Gaza and Rafah against "terrorists" operating near their forces and trying to plant bombs. The bloodshed underscores the fragility of a three-stage ceasefire agreement between Israel and Hamas mediated by Qatar, Egypt, and the U.S. There was no sign of progress from renewed talks on sustaining a ceasefire deal between Israel and Hamas. The Houthis said last week they would resume attacks on Israeli ships passing through the Red Sea if Israel did not lift a block on aid entering Gaza. Israel's suspension of goods entering Gaza for 16 days has increased pressure on the enclave's 2.3 million people, most of who have been made homeless by the war. The suspension, which Israel said was aimed at pressuring Hamas in ceasefire talks, applies to food, medicine, and fuel imports. Houthi fighters have also fired drones and missiles towards Israel. Israel, which has hit multiple Houthi-linked targets in Yemen, has warned the militants to halt their strikes, saying they risked the same "miserable fate" as Hamas, Hezbollah and Assad. https://www.reuters.com/world/middle-east/us-piles-pressure-yemens-houthis-with-new-airstrikes-2025-03-17/

2025-03-17 12:43

LONDON, March 17 (Reuters) - Sterling gained against a broadly weaker dollar on Monday, as traders' attention turns back towards Britain and the pound ahead of this week's Bank of England meeting and next week's update on the country's public finances. The pound gained 0.27% to $1.2973 , just shy of last week's four-month high, but the move was largely in line with other European currencies as worries about U.S. growth continue to weigh on the dollar. Sign up here. Versus the euro, the pound was a fraction stronger at 84.05 pence, having weakened sharply from around 82 pence per euro in early March, on the back of Germany's massive spending plans. The pound has largely been buffeted by developments in Europe and the United States but the next few weeks will offer some important local drivers. "It would be fair to say that GBP has not been top of mind for investors since the February BoE meeting. Tariff talk, trade uncertainty and the German fiscal bazooka have dominated price action in both rates and FX," BofA analysts said in a note. "Heading into the (next) BoE meeting, GBP should find some focus with a heavy schedule of events, culminating in the Spring Forecast on 26 March." They added that the pound's weakening against the euro has been "excessive" and the currency is ripe for a comeback. The Bank of England meets on Thursday when it is expected to hold rates, leaving investors' focus on whether official remarks disrupt market expectations of two more 25 basis point rate cuts by year end. Wage data is also released on Thursday and will feed into that assessment. The following week finance minister Rachel Reeves will give an update on the public finances, a moment that investors say could prompt another market shock to an economy that is increasingly reliant on fickle foreign funds. https://www.reuters.com/markets/currencies/sterling-moves-up-traders-agenda-strengthens-versus-dollar-euro-2025-03-17/

2025-03-17 11:51

MOSCOW, March 17 (Reuters) - Russia plans to produce at least 60,000 metric tons of lithium carbonate in 2030, the natural resources ministry said on Monday, as Moscow seeks to reduce its dependency on imports and boost production of high-capacity electric batteries. Lithium and other critical minerals, including rare earth metals, have gained global attention in recent months, as U.S. President Donald Trump aimed to counter China's dominance in the sector by offering production deals to Ukraine and Russia. Sign up here. Lithium, a metal essential for electric vehicle production, is included on the list of 50 minerals deemed critical by the U.S. Geological Survey. Russia reported having 3.5 million tons of lithium oxide reserves. The U.S. Geological Survey estimated Russia's lithium reserves at about 1 million tons in 2024, the world's 14th largest. Lithium oxide has about one third of pure lithium and lithium carbonate contains about 20% of pure lithium. "Industrial lithium production in the country will begin in 2030," the ministry stated. President Vladimir Putin said last month that Russia should speed up its plans to mine lithium deposits. Demand for lithium has surged in recent years as Russian companies work on the mass production of lithium batteries and electric vehicles. "The country has traditionally imported lithium, and it is now crucial to launch facilities swiftly and increase the extraction and processing of this strategically important resource for the economy," the ministry added. The ministry said it had issued exploration licenses for three major lithium deposits: Kolmozerskoye and Polmostundrovskoye in the Murmansk region in northwestern Russia, and Tastygskoye in the Tuva region, which borders Mongolia. All three deposits and their adjacent production plants are expected to become operational by 2030, the ministry said. In 2023, Russia mined only 27 tons of lithium as a byproduct at an emerald deposit in the Ural Mountains. Kolmozerskoye, which contains one-quarter of Russia's known lithium reserves, is operated by Polar Lithium, a joint venture between Russian metals giant Nornickel and the state-owned nuclear energy firm Rosatom. The private firm Arctic Lithium holds a license for Polmostundrovskoye, while Elbrusmetall-Lithium, a subsidiary of the state defence and industrial conglomerate Rostech, holds a license for Tastygskoye. https://www.reuters.com/markets/commodities/russia-plans-launch-large-scale-lithium-production-2030-2025-03-17/

2025-03-17 11:48

JERUSALEM, March 17 (Reuters) - Israel awarded licences to BP (BP.L) , opens new tab, Azeri national oil firm Socar and local company NewMed Energy (NWMDp.TA) , opens new tab on Monday to explore for natural gas in Israeli waters as the country seeks to boost domestic gas reserves and expand exports. In 2023 the trio jointly placed a bid for two offshore blocks in a fourth licensing round. Israel's Energy Ministry said that additional licences are expected to be granted and a fifth bidding round is planned for later this year. Sign up here. As part of the licences for the so-called Cluster I near the Leviathan field, Socar will act as operator of the exploration consortium while BP will be involved in Israel's natural gas sector for the first time. NewMed is already the largest stakeholder in Leviathan, the giant offshore field operated by Chevron (CVX.N) , opens new tab. Each company will hold about a third of the rights in each licence. Cluster I is a 1,700 sq km area located in the Mediterranean at the northern part of Israel's economic waters. The consortium is expected to conduct seismic and geological surveys in the first phase of exploration, with drilling in a second phase based on survey results. "Natural gas is a strategic asset that strengthens our economic and diplomatic standing worldwide, particularly in the Middle East," said Energy Minister Eli Cohen. "That’s why we are working to expand natural gas production for both the domestic market and exports, especially in these times." The gas-rich offshore basin straddling Egypt, Israel, Cyprus and Lebanon has drawn some of the world's top energy companies in recent years, particularly as Europe scrambles to secure supplies to replace Russian gas in the wake of Russia's invasion of Ukraine. Israel is positioning itself as a regional energy hub and has committed to supplying natural gas to Europe, which has been diversifying away from Russia. Exploration for oil and gas resources is a high-risk, high-reward business that includes seismic surveys and the drilling of wells, a process that can take several years. The ministry reported this month that Israel's natural gas exports to Egypt and Jordan rose 13.4% in 2024. https://www.reuters.com/business/energy/israel-awards-natural-gas-exploration-licences-bp-socar-newmed-2025-03-17/

2025-03-17 11:37

March 17 (Reuters) - Embattled German agricultural trading group BayWa (BYWGnx.DE) , opens new tab said on Monday it would keep a majority ownership of renewable energy unit BayWa r.e. after an initial agreement with suitor Energy Infrastructure Partners fell apart. "A final agreement on details of this concept could not be reached for economic reasons," BayWa said. Sign up here. The Munich-based trader of farming supplies and produce added it is now in talks with core banks of the company and its subsidiary as well as major shareholders to cover the capital and guarantee requirements of BayWa r.e. until the end of the company's restructuring phase. BayWa announced in February it struck an initial deal with Switzerland's Energy Infrastructure Partners (EIP) for the Swiss firm to become the major shareholder of BayWa r.e., which still required approval of the EIP's boards. The German group has been grappling with rising borrowing costs, forcing it to embark on a major restructuring, including job cuts. "By implementing the alternative financing concept, BayWa AG would remain the majority shareholder of BayWa r.e. AG for the time being," The firm added in statement. https://www.reuters.com/markets/commodities/baywa-deal-with-eip-renewable-energy-unit-collapses-2025-03-17/

2025-03-17 11:34

March 17 (Reuters) - Canada's main stock index rallied for a second straight day on Monday as some investors took the view that the recent selloff in the market was a buying opportunity, with energy and metal mining shares leading broad-based gains. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) , opens new tab ended up 231.71 points, or 0.9%, at 24,785.11, extending its rebound from a four-and-a-half-month low on Thursday. Sign up here. "We got quite oversold," said Stan Wong, portfolio manager at Scotia Wealth Management. "Not too surprised that we have a little bit of a reprieve in the markets." Wall Street also rallied as investors assessed the latest economic data to gauge the impact of the Trump administration's policies. U.S. tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast. If additional "tariff talk comes out of the U.S. that might slow us down a little bit but really I see the recent volatility more as an opportunity rather than as an obstacle," Wong said. The energy sector rose 1.5% as the price of oil settled 0.6% higher at $67.58 a barrel. Supportive of oil, the U.S. vowed to keep attacking Yemen's Houthis until the Iran-aligned group ends its assaults on shipping, while Chinese economic data buoyed hopes for higher demand. TerraVest Industries Inc (TVK.TO) , opens new tab shares jumped 20.5% after the home heating product manufacturer announced the acquisition of EnTrans International. The materials sector, which includes fertilizer companies and metal mining shares, added 1.8%, as gold and copper prices climbed. All ten major sectors ended higher, with heavily weighted financials gaining 1.1%. https://www.reuters.com/markets/tsx-futures-dip-focus-upcoming-fed-rate-decision-2025-03-17/