2025-10-21 06:40

WARSAW, Oct 21 (Reuters) - Polish security services have detained eight people suspected of preparing to carry out acts of sabotage in various regions, Prime Minister Donald Tusk said on Tuesday. Officials have said Poland has been targeted with tactics such as arson and cyberattacks in a "hybrid war" waged by Russia to destabilise nations supporting Ukraine in its war with Russia, which has denied such accusations. Sign up here. "ABW (the internal security agency), in cooperation with other services, detained eight people in various parts of the country in recent days, suspected of preparing acts of sabotage," Tusk wrote on X. "Further operational activities are continuing," he added, but gave no details. On X, the minister responsible for special services, Tomasz Siemoniak, said, "The matters ... concern reconnaissance of military facilities and critical infrastructure elements, the preparation of means to carry out acts of sabotage, and the direct execution of attacks." https://www.reuters.com/world/polish-services-detained-eight-people-suspected-preparing-acts-sabotage-says-pm-2025-10-21/

2025-10-21 06:36

Government wants power retailers to secure years of supply in advance JERA contract expiration already lifting futures trading Market small versus Germany but could be as big, analysts say Growth could see impact from emission trading, new power market TOKYO, Oct 21 (Reuters) - Japan's budding power futures market could be set for a growth spurt as a government proposal requiring retailers to secure electricity supply as much as three years in advance is likely to spur hedging activity to protect against price fluctuation. Beginning as soon as for fiscal 2030, the industry ministry wants retailers to lock in 50% to 70% of capacity to stabilise electricity prices and help generators plan for fuel procurement and investment. Sign up here. It aims to set details by year-end including for a new market for longer term physical power contracts and how to price them. Futures trading is already accelerating ahead of the March expiration of 10-year supply agreements that top power generator JERA has with the retail units of parents Tokyo Electric Power (9501.T) , opens new tab and Chubu Electric Power (9502.T) , opens new tab, sources said. With the expiration, JERA is obliged to offer electricity to all retailers equally, through private bilateral deals or the open spot power market, raising the prospect of more trading of futures contracts - agreements to buy or sell assets such as energy at a certain price on a particular date. The consequent increase in market liquidity is likely to attract both energy firms and financial players at home and abroad, further spurring hedging and speculative trade, analysts said. "Japan could achieve exchange-traded power market volume of roughly 2,500 terawatt-hours by 2030, which would make it one of the world's biggest traded power markets," said Eurasia Group Managing Director Henning Gloystein, noting many utilities, banks, trading houses and industrial firms have yet to enter. JAPAN'S POWER FUTURES MARKET HAS EXPERIENCED RAPID GROWTH Japan's power futures market has grown the quickest globally over the past five years to become the seventh biggest as firms hedge against geopolitical risk, extreme weather events and increased power generation from unpredictable renewable sources. Improved liquidity such as from the increased involvement of suppliers of thermal and renewable power has also drawn foreign investors. Trading on top power futures platform EEX Japan, a unit of European Energy Exchange, doubled to 102.52 TWh in January-September versus the same period a year earlier, more than 20 times higher than in 2021, the earliest year for comparable data. Volume on the Tokyo Commodity Exchange (TOCOM) surged nearly sevenfold over the same nine-month period to 3.96 TWh, roughly 10 times the level in 2020. "Fundamentally, our supply is in physical form, but if we can hedge our exposure through financial instruments such as futures, we'll certainly do so," said Hisaki Endo, managing director of Japanese power at JERA Global Markets. "While I can't quantify it, our activity has been contributing to improving EEX liquidity," he said, adding that his trading team will eventually double staff from 75 now. POWER FUTURES MARKET IN JAPAN COULD BE AS BIG AS IN EUROPE JERA, which supplies about 30% of Japan's electricity, has not disclosed the size of its expiring contracts but said they account for "a significant portion" of sales. It began the power sales process for fiscal 2026 and beyond in late 2022. As some of its supply shifts to market-based deals, the need for both JERA and retailers to hedge against price fluctuation is likely to rise. Also, retailers are likely to become increasingly active in the market as they seek to meet the proposed procurement requirements. "In Europe, futures markets are typically twice the size of the annual electricity consumption. In Germany, 12 to 13 times larger," said Steffen Riediger, EEX director of business development. "In Japan, we stand at roughly 0.2 times consumption. That gives you an idea of how much space for development there still is," he said. Unlike Germany, Japan cannot import power from neighbours so must rely on domestic generation and market development, said Masa Oppo Odaka, vice president for commodity markets at Rystad Energy. Japan's "still nascent" market therefore has the potential to be bigger than Germany's, he said. EEX last week began offering futures contracts that match Japan's financial year that begins in April. It plans to add contracts in December for the Chubu region of Japan, expanding beyond Tokyo and Kansai. TOCOM also plans to offer Chubu-area products next spring and a service linking spot trading on the Japan Electric Power Exchange (JEPX) with futures to improve convenience for power generators and retailers. "We aim to grow futures volume to match Japan's total electricity consumption by boosting domestic hedging demand and enhancing liquidity through higher overseas participants," said TOCOM President Takashi Ishizaki. IMPACT ON MARKET GROWTH FROM OTHER GOVERNMENT INITIATIVES Still, the market's development could be contingent on the impact of other government initiatives, such as the 2028 launch of a medium-to-long-term physical power trading market and the second phase of a carbon emissions trading system next year. "The extent to which emission allowances will affect electricity prices remains unclear, and details of the new market are still unknown," said EEX Japan CEO Bob Takai. "As a result, some participants have become cautious." Depending on its design, the new physical power market could either support or compete with futures trading, he said. https://www.reuters.com/business/energy/japan-power-futures-poised-expansion-new-rules-spur-hedging-2025-10-21/

2025-10-21 06:21

MADRID, Oct 21 (Reuters) - Spanish gas grid operator Enagas (ENAG.MC) , opens new tab said on Tuesday it is on track to meet its 2025 targets after swinging to a profit for the first nine months of the year. Gains from disposals and the upwards revision of the amount it was awarded in an arbitration on an investment in Peru, as well as operating costs in line with last year, contributed to the swing. Sign up here. The company posted a 262.8 million euro ($306.5 million) profit compared with a 130.2 million euro net loss in the same period in 2024, when results included a capital loss on the sale of an asset in the United States. Earlier this year, the firm pledged to invest more than 4 billion euros by the end of the decade, mostly in hydrogen infrastructure, as it diversifies into managing a network of hydrogen infrastructure while also targeting ammonia and CO2 capture businesses. ($1 = 0.8575 euros) https://www.reuters.com/business/energy/spains-enagas-swings-profit-first-nine-months-2025-2025-10-21/

2025-10-21 06:19

IMF sees Middle East, North Africa growth picking up Says region has been resilient despite global uncertainty Risks to outlook still to the downside DUBAI, Oct 21 (Reuters) - The International Monetary Fund, which raised its 2025 growth outlook for the Middle East and North Africa last week, has said that risks for the region are still tilted to the downside, despite a recent improvement in geopolitical tensions. The IMF has lifted its 2025 GDP growth forecast for the MENA region to 3.3%, from 2.6% it projected in May. Sign up here. "The outlook this year reflected a resilience, despite the fact that we live in elevated global uncertainty and a situation where trade tariffs affected most of the world and the geopolitical tensions are still there," Jihad Azour, director of the IMF's Middle East and Central Asia department, told Reuters. Regional oil exporters are benefiting from higher oil production as well as increased public investment and implementation of structural reforms as part of economic diversification efforts. Lower commodity prices, a rebound in tourism and stronger remittances have helped improve growth among oil importing states, with improved access to financial markets and moderating inflation providing support. "Of course, those developments come in a context where uncertainty is still high and the risks are tilted to the downside," Azour said in Dubai, ahead of the launch of the IMF's Regional Economic Outlook report. These included a further softening in oil prices if global demand declines, increased global trade tensions - although the region had so far been less affected than others - and higher global inflation. "Geopolitical tensions in the last couple of weeks have shown signs of improvement but one has to remain vigilant." TOURISM, REMITTANCES BOOST EGYPT GDP FORECAST Growth in Egypt was revised up to 4.3% for 2025, up from 3.8% projected in May, supported by an increase in tourism revenue and strong remittances from Egyptians abroad. Inflation has also plunged from almost 40% in 2023 to 11.7% in September, helped by the IMF's $8 billion bailout programme in March 2024. "We encourage the authorities to accelerate the implementation of two important milestones - divestment and increase the level of clarity under some of the state-owned enterprises," Azour said. He said that IMF discussions with Egypt on the combined fifth and sixth review of its loan programme were ongoing, and expected to be completed during the fourth quarter. Since 2020, the IMF has approved $55.7 billion in financing for countries in the region, with $21.4 billion approved since early 2024 for programmes in Egypt, Jordan, Morocco and Pakistan. https://www.reuters.com/world/asia-pacific/imf-says-risks-middle-east-outlook-tilted-downside-global-uncertainty-2025-10-21/

2025-10-21 06:14

PARIS, Oct 21 (Reuters) - France has raised its bird flu alert level to "high" following the recent emergency of new cases of the disease, the Agriculture Ministry said on Tuesday in a decree on its official journal. Sign up here. https://www.reuters.com/business/environment/france-raises-bird-flu-alert-level-high-after-new-cases-2025-10-21/

2025-10-21 06:01

European Chemicals Agency may classify ethanol as dangerous, linked to cancer - FT ECHA Biocidal Products Committee to meet in late November WHO classifies ethanol as safe for hand hygiene Oct 21 (Reuters) - The EU is considering classifying ethanol, an ingredient used in many hand sanitisers, as a dangerous substance that increases the risk of cancer, the Financial Times reported on Tuesday. An internal recommendation on October 10 by one of the working groups within the European Chemicals Agency (ECHA) flagged ethanol as a toxic substance, which increased the risk of cancer and pregnancy complications, the FT said, and needed to be replaced in cleaning and other products. Sign up here. The ECHA's Biocidal Products Committee is set to meet between November 25 and November 28. The regulator said that if its expert committee "concludes that ethanol is carcinogenic", it would recommend its substitution, the FT said, adding that the final decision would be made by the European Commission. The European Chemicals Agency did not immediately respond to a Reuters' request for comment. The agency told the FT that ethanol might "still be approved for the intended biocidal uses, if these are considered safe in the light of expected exposure levels or no alternatives are found," stressing that no decision had yet been made. The World Health Organization classifies both ethanol and isopropanol as safe to use for hand hygiene. https://www.reuters.com/business/healthcare-pharmaceuticals/eu-weighs-ban-ethanol-used-hand-sanitisers-over-cancer-fears-ft-reports-2025-10-21/