2024-09-30 12:42
At least 192 dead, 32 missing after heavy rains in Nepal Kathmandu Valley saw 56 deaths, severe flooding and damage Experts blame poor urban planning, climate change for exacerbating disaster KATHMANDU, Sept 30 (Reuters) - Nepal began on Monday to grapple with damage wrought by deadly floods and landslides triggered by heavy rains as residents faced the daunting task of cleaning homes and extracting their broken belongings from mud. At least 192 people died and 32 were still missing in two days of incessant rains caused by a low-pressure system in the Bay of Bengal and over areas in India bordering Nepal. In the northern areas of Bangladesh, separated from Nepal by a thin strip of Indian territory, more than 100,000 people were stranded following heavy rains and the onrush of water from upstream, officials said. Hill-ringed Kathmandu Valley, which is home to four million people and the capital, alone saw 56 deaths and suffered one of its worst devastations in recent years where rivers spilled over banks and flooded homes, hospitals, roads, bridges and markets. Prithvi Subba Gurung, a senior minister and cabinet spokesperson, said the government was assessing the extent of damage and the cost of rebuilding. Some weather stations in Kathmandu recorded the highest 24-hour rainfall for decades, officials said. Surya Raj Acharya, an infrastructure and urban planning expert, said haphazard construction and urbanisation in Kathmandu without basic engineering and planning had contributed to the huge damage. “River banks are encroached by people for construction of houses, ignoring the basic enforcement of engineering and planning, without provisions for drainage and sewage system,” he said. “There is no adequate outlet for river water during the rainy season which causes the flood water to enter homes,” Acharya said. Nepal’s geography, terrain, river systems, monsoon patterns and the potential for extreme climate events must be taken into consideration for such planning, Acharya said. Climate scientists echoed his view. “Climate change played a significant role in exacerbating the disaster, compounded by poor urban planning and infrastructure," said Arun Bhakta Shrestha, a climate and environmental risks expert at the Kathmandu-based International Centre for Integrated Mountain Development (ICIMOD). In Bangladesh, vast areas of land in five northern districts have been submerged after the sudden swelling of the Teesta River, which crossed its danger mark at several points, district officials said. The rising waters have devastated large areas of farmland, washing away crops such as paddy and vegetables, along with fish farms, leaving many farmers facing severe losses. Homes, roads, and critical infrastructure have also been inundated, forcing people to flee to higher ground for safety. The situation could worsen in the coming days, with the Bangladesh weather office warning of more rain. (This story has been corrected to fix the death toll to 56, in the second bullet point) Sign up here. https://www.reuters.com/business/environment/nepal-begins-assess-damage-after-deadly-rains-floods-kill-192-2024-09-30/
2024-09-30 12:42
BUDAPEST, Sept 30 (Reuters) - Ukrainian Foreign Minister Andrii Sybiha said he had had a "very frank one-on-one conversation" with his Hungarian counterpart on Monday, amid disagreements opened up by Russia's invasion of Ukraine. Hungary has upset its NATO and European Union allies by keeping close economic ties with Russia, and has also refused to join other Western countries in sending arms to help its neighbour. Kyiv for its part stopped the flow of oil from Russia's Lukoil in June to refineries in Hungary and Slovakia, forcing Hungary's MOL to renegotiate the supply through Belarus and Ukraine. At a joint press conference, Sybiha thanked Budapest for supporting EU sanctions against Russia and said Kyiv was "committed to developing pragmatic and predictable good-neighbourly relations". But after Hungarian Foreign Minister Peter Szijjarto said Budapest would back any initiative that would achieve peace in Ukraine, Sybiha added pointedly that he hoped Hungary would continue to support "Ukrainian initiatives" - referring to plans advanced by Kyiv that reject any Russian territorial gains. Szijjarto said Hungary "would like Ukraine to abstain in future from those unilateral steps taken recently that posed special challenges to Hungary's energy supply", but had no plan to restrict gas flows or its substantial power exports to Ukraine. He also said Hungary wanted to take part in rebuilding Ukraine. Budapest has also clashed with Kyiv over what it says are curbs on the rights of roughly 150,000 ethnic Hungarians in western Ukraine to use their native tongue. Kyiv denies that such restrictions exist but Sybiha said both sides had "noted a positive dynamic in resolving this issue". Sign up here. https://www.reuters.com/world/europe/hungary-ukraine-ministers-hold-frank-talks-amid-russia-strains-2024-09-30/
2024-09-30 12:21
WASHINGTON, Sept 30 (Reuters) - The U.S. on Monday said it closed a $1.52 billion loan to resurrect Holtec's Palisades nuclear plant in Michigan, and a senior Biden administration official said it could take two years to reopen the plant, which is longer than the company predicted. President Joe Biden's administration has called for a tripling of U.S. nuclear power capacity as U.S. power demand surges and worries about climate change mount. The push could include the potential reopening of some commercial reactors that have been shut for decommissioning, including one at Three Mile Island, site of the worst nuclear accident in U.S. history. Restarting shut nuclear plants is a complicated and expensive process never before accomplished in the country. "Palisades is a climate comeback story," Ali Zaidi, the White House climate adviser, told reporters in a call, adding that nuclear power supports high-paying union jobs. Nuclear reactors generate virtually emissions-free power, which is valued as electricity demand soars for the first time in decades on growth in artificial intelligence, electric vehicles and crypto-currencies. Nuclear critics point out the U.S. has not agreed on a permanent place to bury radioactive nuclear waste. Palisades still needs licensing from regulators and the senior U.S. official said that means it could take "a couple of years to turn back on". Holtec has estimated a comeback in the fourth quarter next year. Patrick O'Brien, a Holtec spokesperson, said Palisades was on target for "repower" in October or later in 2025. Still, the plant has been shut since 2022 and needs work. The U.S. nuclear regulator said this month that preliminary results from inspections "identified a large number of steam generator tubes with indications that require further analysis and/or repair." Steam generators are sensitive components of a nuclear power plant that require meticulous maintenance. O'Brien has said Holtec doesn't expect delays or additional costs. Deputy U.S. Energy Secretary Xochitl Torres Small also announced more than $1.3 billion in public funding that will go to power cooperatives Wolverine and Hoosier Energy to help them complete purchases of electricity from Palisades. Sign up here. https://www.reuters.com/business/energy/us-closes-152-billion-loan-resurrect-michigan-nuclear-plant-2024-09-30/
2024-09-30 12:14
MUMBAI, Sept 30 (Reuters) - India's monsoon rainfall this year was its highest since 2020, with above-average precipitation for three consecutive months, helping the country recover from last year's drought, the state-run weather department said on Monday. India's annual monsoon provides almost 70% of the rain it needs to water farms and replenish reservoirs and aquifers, and is the lifeblood of a nearly $3.5 trillion economy. Without irrigation, nearly half of Indian farmland depends on the rains that usually run from June to September. Rainfall over the country from June through September was 107.6% of its long period average, the highest since 2020, according to the India Meteorological Department (IMD). India received 11.6% more rainfall than average in September, following 9% and 15.3% above-average rainfall in July and August respectively, the IMD data showed. Above-average rainfall in September, arising from a delayed monsoon withdrawal, damaged some summer-sown crops like rice, cotton, soybean, corn, and pulses in certain regions of India. However, the rains may also enhance soil moisture, benefiting the planting of winter-sown crops such as wheat, rapeseed, and chickpea. India badly needed good rainfall in 2024 after its driest year in five years in 2023, which depleted reservoir levels and trimmed production of some crops. This forced New Delhi to impose curbs on exports of rice, sugar and onions. Rainfall distribution was generally good, which helped farmers expand areas under most crops, said Ashwini Bansod, vice president, commodities research at Phillip Capital India. "This means we could have larger harvests of some summer-sown crops, potentially helping the government to relax trade restrictions in certain cases," she said. India on Saturday lifted curbs on exports of non-basmati white rice. That came a day after New Delhi cut export duty on parboiled rice to 10%, buoyed by a new crop in the offing and higher inventories in state warehouses. Sign up here. https://www.reuters.com/world/india/indias-monsoon-rains-hit-four-year-high-boost-crop-output-2024-09-30/
2024-09-30 12:12
Swiss prosecutors began investigating Gunvor in 2011 Defendant allegedly involved in payments worth over $35 mln Prosecutors cite video evidence of Paris meeting Case is rare public trial involving commodities trader GENEVA, Sept 30 (Reuters) - An ex-Gunvor employee faces allegations of corrupting high-level officials in the Republic of Congo in exchange for oil contracts at a trial before a top Swiss court that began on Monday. The case is a rare incident of a corruption case involving Switzerland's $80 billion commodities trading sector going to court. Swiss prosecutors started investigating the Geneva-based Gunvor in 2011 as part of an ongoing probe. Two judgments have already been issued: a 2018 court ruling accepting an ex-employee's plea bargain where he admitted to paying bribes in Congo and Ivory Coast and another in 2019 that found the company criminally liable for corruption. It was ordered to pay around 94 million Swiss francs ($111.5 million) by the court. "We have no comment, as Gunvor is not a party to the procedure or trial. All matters were concluded in 2019," a Gunvor spokesperson said. Reuters did not name the defendant, who no longer works for Gunvor, because Swiss law forbids it, barring rare exceptions. He categorically denies the charges, his lawyer told Reuters. Court documents allege the defendant, a French national who worked as a finance manager, took "an active part" in corrupt payments worth over $35 million to Congolese officials between 2010-2011. The indictment also alleges he offered benefits to a Congolese official representing the son of President Denis Sassou Nguesso at a Paris restaurant in 2014 in exchange for new oil deals. Among the evidence, it cites a video recording of the meeting where it says the defendant revealed he was aware of past payments to Congolese officials. It said he also knew about prosecutors' ongoing corruption probe because he had already been interviewed in that context. Agathe Duparc from campaign group Public Eye who has investigated the case separately said the trial could play a role in deterring others. "These cases are not usually heard in public and that could play a role in both revealing the chain of responsibility and preventing future incidents," she said. The case is set to run until Wednesday at the Swiss Federal Criminal Court in Bellinzona. The defendant faces a maximum penalty of five years in prison. ($1 = 0.8430 Swiss francs) Sign up here. https://www.reuters.com/world/africa/ex-gunvor-employee-faces-corruption-charges-congo-dealings-top-swiss-court-2024-09-30/
2024-09-30 11:55
Deal expected during Indian trade minister Goyal's visit to Washington Pact aims to build supply chains, exchange know-how in critical minerals India-U.S. bilateral trade in 2023-24 was about $120 bln, a record high NEW DELHI, Sept 30 (Reuters) - India and the United States are likely to sign an initial pact for cooperation on critical minerals this week, two Indian government sources said, as the two countries try to bolster trade ties despite diplomatic hiccups. They are expected to sign an agreement to partner and cooperate in the area of critical minerals during Indian trade minister Piyush Goyal's visit to Washington, the sources said. Goyal is scheduled to be in the U.S. this week to discuss ways to deepen overall bilateral trade ties, according to one of the sources, weeks before the White House's preparation for a leadership change following the presidential election later this year. Goyal is expected to meet U.S. Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai this week, according to a statement from the Indian government. Earlier this month, Indian Prime Minister Narendra Modi and President Joe Biden met in Delaware one-on-one as well as part of the Quad grouping which also includes the leaders of Australia and Japan. The initial pact on critical minerals would help build supply chains, exchange technical know-how, and promote collaboration between Indian and American businesses in the sector, the first official said. India's federal trade ministry and the U.S. embassy did not immediately respond to a Reuters email for comment. "The two sides are negotiating a MoU (memorandum of understanding) which intends to enhance bilateral collaboration to increase and diversify essential critical mineral supply chains and leverage their complementary strengths," the Indian trade ministry said on Sept. 29. Reuters reported in June that state-run Coal India Ltd (COAL.NS) , opens new tab is exploring lithium blocks in Argentina along with a U.S. company to secure supplies of the battery material. India has also proposed a separate critical minerals trade deal with the United States. This deal would prohibit the imposition of tariffs by both countries and will be similar to a pact with Japan that grants Japanese automakers wider access to U.S. electric vehicles tax credit. India is a member of the U.S.-led Minerals Security Partnership, which aims to ensure adequate supplies of minerals needed to meet zero-carbon goals. Last year, Modi's government identified 30 minerals, including lithium and nickel, as critical for driving the adoption of clean energy. India-U.S. bilateral trade in the 2023-24 fiscal year stood at nearly $120 billion, a record high. Under the Biden administration, the two nations mutually resolved all their disputes at the World Trade Organisation, a development India called "historic". Sign up here. https://www.reuters.com/world/india/india-us-likely-sign-pact-critical-minerals-sources-say-2024-09-30/
