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☆ Human hair recycled in Belgium to protect the environment
▼ + stars: | 2022-12-28 | by ( Jakob Van Calster | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 28 (Reuters) - Coiffeurs across Belgium are sweeping up and bagging hair clipped from their customers, and then handing it over to an NGO that recycles it to protect the environment. The Hair Recycle project feeds locks and tresses into a machine that turns them into matted squares that can be used to absorb oil and other hydrocarbons polluting the environment, or made into bio-composite bags. [1/5] Patrick Janssen, co-founder of the organisation Dung Dung, shows a tile made from recycled human hair that is used to absorb polluting chemical substances in water, in Waremme, Belgium December 8, 2022. Isabelle Voulkidis, manager of the Helyode salon in Brussels, is one of dozens of hairdresser across the country that pay a small fee to the project to collect their hair cuttings. Additional reporting by Clement Rossignol; Writing by John Chalmers; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

ISTANBUL, Dec 28 (Reuters) - Several big Turkish banks want to issue dividends to shareholders after posting record profits in 2022 and the country's BDDK banking watchdog is considering the request, three banking sources familiar with the issue said. Each year the BDDK makes recommendations regarding banks' profit distribution. In 2021, dividends were up to 10% of lenders' net profits, and in previous years the BDDK made recommendations for profits to be added to capital. One source said some banks, especially private ones, had sent requests to the BDDK for clearance to distribute profits and that the watchdog was evaluating them. Another banking source said the BDDK's general approach to sector profits was: "Don't distribute it, add it to capital."

☆ Maldives former president Yameen gets 11-year jail term
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +1 min

He lost power in 2018 but has been declared presidential candidate for the Progressive Party of the Maldives for an election due in 2023. After his sentencing, Yameen was shifted to house arrest in 2020 and was freed months later. Since his release, Yameen, the half-brother of former dictator Maumoon Abdul Gayoom, has returned to active politics with a campaign against Indian influence in Maldives, raising concerns in New Delhi. Situated close to strategic shipping lanes in the Indian Ocean, Maldives is a focal point for competition between India and China over influence in the region. Reporting by Mohamed Junayd; Writing by Mayank Bhardwaj; Editing by Edmund Klamann and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

He also said that despite Europe's efforts to cut reliance on Russian oil and gas, energy exports from Russia are in demand worldwide and Moscow has been diversifying its buyers. Russian President Vladimir Putin said on Thursday he would issue a decree early next week on Moscow's actions in response to the price cap. Novak said the decree would ban sales of oil and oil products to countries that join the price cap and companies that demand its observance. EXPORTS DECLINEThe sanctions have hit sales of Russian oil, which makes up a large share of state budget revenues. He also praised the work of the OPEC+ group of leading global oil producers, which includes Russia, saying that the oil price is likely to remain in current range of $70-$100 per barrel next year barring the emergence of unforeseen events.

☆ Judge dismisses demands for LME disclosures on cancelled nickel trades
▼ + stars: | 2022-12-23 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

AQR Capital Management said after the ruling it would continue to evaluate all legal options. The other claimants in the filing were Winton Capital Management, Capstone Investment Advisors, Flow Traders (FLOW.AS) and DRW Commodities. The London Metal Exchange was represented by global law firm Hogan Lovells, instructing Brick Court Chambers. "Hogan Lovells has today secured an important victory for its client the London Metal Exchange (LME)," it said in a statement. The LME also faces lawsuits from U.S. hedge fund Elliott Associates and Jane Street Global Trading, which are suing the LME for $456 million and $15.3 million, respectively, for the cancelled nickel trades.

☆ BioNTech starts human trial to test malaria vaccine
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationBERLIN, Dec 23 (Reuters) - BioNTech (22UAy.DE) on Friday initiated an early-stage study to evaluate its experimental malaria vaccine in humans, the German drugmaker said. The Phase 1 trial is expected to enrol 60 volunteers in the United States with no history of malaria to assess the vaccine candidate at three-dose levels. Known as BNT165b1, it is the first vaccine candidate from BioNTech's malaria project, which will also establish vaccine production in Africa. Another keenly-watched effort is a malaria vaccine from Oxford University. BioNTech's malaria vaccine effort is based on its mRNA technology, which was employed during the pandemic to quickly develop COVID-19 vaccines, by prompting the human body to make a protein that is part of the pathogen, triggering an immune response.

☆ Dutch pension giant ABP set to sell laggards as sharpens climate focus
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

The new policy could halve the number of companies in ABP's portfolio, investment director Dominique Dijkhuis told Dutch financial daily FD in an interview published on Friday. Dijkhuis did not specify which companies would no longer be eligible for ABP, nor how long the overhaul would take. ABP said last year it would divest 15 billion euros of fossil fuel investments, which marked a major turnaround as only months before, it had said exiting fossil fuel investments would "not be the solution" to global warming. Dijkhuis said ABP would demand that companies commit to being climate neutral by 2050, and would also set progressively strict interim goals. The financial sector will not be excluded from this policy, as it will have to target loans into sustainable investments, Dijkhuis added.

☆ Bulgaria in talks with Turkey on long-term gas deal
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

SOFIA, Dec 23 (Reuters) - Bulgaria's interim energy minister is in Istanbul on Friday for talks he hopes will lead to a deal this month on long-term access to liquefied natural gas (LNG) terminals in neighbouring Turkey and the transit of the gas to its border. The chief executives of Bulgaria's state gas company Bulgargaz and gas network operator Bulgartransgaz are also taking part in the talks as Bulgaria seeks new sources of gas. Russia, which covered over 95% of the Balkan country's gas needs, cut off deliveries to Bulgaria in April after Sofia refused to pay for them in roubles. Bulgaria wants to book capacity at Turkish terminals through 2036 to import 1 bcm of LNG gas a year. Under the energy ministry plans, Bulgaria will cover a third of its gas needs with LNG gas imports through Turkey, one third through the LNG terminal near the Greek city of Alexandroupolis which should become operational in 2024 and one third with Azeri supplies.

☆ 'Fat One' lottery spreads Christmas cash and joy across Spain
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +2 min

The top prize, known as "El Gordo" (The Fat One), rewarded many winners across several regions, as the same number was sold multiple times. As Spain, like other European countries, faces a cost-of-living crisis and stagnating wages, the Christmas lottery draw has taken on added significance. Commotion erupted in the theatre when Perla, a Peruvian-born unemployed mother of two sitting in the theatre, realised she had a winning El Gordo number in her hand. [1/5] People celebrate winning numbers in Spain's Christmas lottery "El Gordo" (The Fat One), in Madrid, Spain December 22, 2022. The best-selling ticket, dubbed "decimo" (tenth), costs 20 euros and its holders can earn 10% of the prize money awarded.

LONDON, Dec 22 (Reuters) - China's imports of primary aluminium jumped to a one-year high of 110,700 tonnes in November in a significant reversal of the recent trend. China's imports and exports of primary unwrought aluminiumTRADE FLOWS FLIP AGAINChina's primary aluminium export surge has passed. Global aluminium production monthly change annualisedSLOWING MOMENTUMChina's renewed import appetite for primary aluminium looks at odds with the combination of lockdown-weakened demand and strong domestic production growth. Expressed in terms of annualised production, China's collective run-rate has dropped by almost 1.2 million tonnes since August. Sichuan briefly rationed power to industrial users, including aluminium smelters, in August because of a protracted drought in the hydro-rich province.

☆ Uniper says working with UAE's Masdar on hydrogen project
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Dec 22 (Reuters) - German utility Uniper (UN01.DE) on Thursday said it was involved in a project with the United Arab Emirates (UAE) clean energy company Masdar to produce green hydrogen, confirming a report on Bloomberg. A spokesperson for the Duesseldorf-based firm said Uniper is actively involved in large-scale hydrogen projects in the Middle East, with a view to exporting hydrogen to Europe and Asian markets. "The project in UAE with MASDAR has already seen impressive public support," the spokesperson said, adding Uniper declined to provide further detail at this stage. The Bloomberg report said that Masdar and Uniper will build a 1.3 gigawatt (GW) solar plant from which they expect to produce clean hydrogen via electrolysis from 2026, citing an interview with Masdar's executive director for clean energy, Mohammad Abdelqadar El Ramahi. ($1 = 0.9439 euros)Reporting by Vera Eckert, editing by Rachel More and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Police arrested the suspect, a German citizen identified as Carsten L., on Wednesday in Berlin, the federal prosecutors office said. "The accused is suspected of state treason," federal prosecutors said in a statement. "In 2022, he shared information that he came by in the course of his work with a Russian intelligence agency. As such, the BND would not be giving out any further details on the case until federal prosecutors had concluded their investigation, Kahl added. The last time a German intelligence employee was arrested for treason was in 2014 - although then it was for betraying secrets to the U.S. Central Intelligence Agency.

☆ Exclusive: Sanctions could cut Russia's Baltic oil exports by 20%
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +3 min

According to traders' data and calculations made by Reuters, Urals exports from the Baltic Sea ports will probably fall to around 5 million tonnes this month from 6 million tonnes in November. The cap allows non-EU countries to import seaborne Russian crude oil, but prohibits shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is sold for under $60. In December, Urals crude has been sold at deeper discounts, and dominant buyer India has bought barrels at well below the $60 price cap. PRICE CAP STRIKES BACKWhen U.S. officials first discussed the idea of capping Russian oil export prices, the aim was to squeeze Russia's oil revenues, which have so far remained high. As Russia minimised the use of services provided by Western shipping and insurance companies, oil exports outside Western countries continued after Dec. 5 with no respect to the price cap.

Indeed he has no use for electricity and for more than half a century has lived entirely off the grid. That makes him one of the few people in Europe unconcerned about rising energy costs this winter. Right now, he has two house mates, a rooster, three chickens and a cat in a community he calls "The Tribe of the Harmonious Walnuts". "I feel privileged to have the freedom to choose my freedom," said Agnese, 35, who moved in two years ago. The "harmonious walnuts" grow fruit and vegetables, olives to produce olive oil, and keep bees for honey.

☆ Yen retreats after BOJ policy tweak sparked surge
▼ + stars: | 2022-12-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

The BOJ decided to change its "yield curve control" policy on Tuesday even as it kept broad policy settings unchanged. It is letting 10-year yields move 50 basis points either side of its 0% target, wider than the previous 25-basis-point band. On Wednesday, the dollar was 0.4% higher against the yen , having plunged 3.8% in the previous session, its largest one-day drop against the Japanese currency in 24 years. The BOJ, long preoccupied with reviving price growth to avert a risk of deflation, has been an outlier among central banks this year. It has kept interest rates negative while other central banks have hiked hard to tame inflation and bolster domestic currencies against the U.S. dollar.

[1/2] Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, NY, U.S., April 30, 2018. The MSCI All-World index (.MIWD00000PUS) rose about 1.1% on the day, although it is on track for a more than 3% decline in December. This year, the index is set to have fallen for eight out of 12 months, on a par only with 2008 for the number of monthly losses in a calendar year on record. In Europe, shares more than recovered the previous day's 0.4% drop, helped in part by a rally in sportswear stocks. Citi analysts said the calm in equity markets might not last, and thin, year-end trading could lead to volatility.

☆ Yen eases after BOJ policy tweak sparked surge
▼ + stars: | 2022-12-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

NEW YORK, Dec 21 (Reuters) - The yen eased in a choppy session on Wednesday, ceding some of the ground gained the previous day when a surprise policy tweak by the Bank of Japan lifted the Japanese currency by 4% against the dollar. The BOJ decided to change its "yield curve control" policy on Tuesday even as it kept broad policy settings unchanged. It is letting 10-year yields move 50 basis points either side of its 0% target, wider than the previous 25 basis point band. On Wednesday, the dollar was 0.2% higher against the yen , having plunged 3.8% in the previous session, its largest one day drop against the Japanese currency in 24 years. I don't think we're going to 150 (yen) anytime soon," Chandler said.

The MSCI All-World index (.MIWD00000PUS) rose 0.67% on the day, although it is on track for a nearly 4% decline in December. This year, the index is set to have fallen for eight out of 12 months, on a par only with 2008 for the number of monthly losses in a calendar year on record. They were boosted by stronger than expected earnings at sportswear giant Nike NKE.N and delivery behemoth FedEx Corp FDX.N. In Europe, shares more than recovered the previous day's 0.4% drop, helped in part by a rally in sportswear stocks. Citi analysts said the calm in equity markets might not last, and thin, year-end trading could lead to volatility.

Ukraine has shared a list with European countries of some 10,000 items it urgently needs to maintain power. Since early October, Russian forces have targeted Ukraine's energy infrastructure, causing blackouts and forcing millions of people to endure sub-zero temperatures with little or no heating. As stockpiles of state-owned European power grids dwindle, Lorkowski expected the private sector to become more important in meeting Ukraine's energy infrastructure needs. A first tranche of U.S. power equipment worth $13 million has been shipped to Ukraine, officials said, and two more planeloads were due to leave shortly. Olena Osmolovska, director of the reform support team at Ukraine's energy ministry, said it would cost tens of billions of dollars to fully restore the energy system.

☆ Siemens Gamesa names Luijendijk CEO of onshore wind unit
▼ + stars: | 2022-12-20 | by ( Andres Gonzalez | ) www.reuters.com time to read: +1 min

Companies Siemens Gamesa Renewable Energy SA FollowLONDON, Dec 20 (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) has appointed its Asia Pacific boss Richard Luijendijk as chief executive of its onshore unit as it seeks to turn around the business, a memo signed by Siemens Gamesa CEO Jochen Eickholt showed. Luijendijk will replace Lars Bondo Krogsgaard, whose departure was announced in October, with the company saying in an email to staff it needed a "change due to the losses in the onshore business and the continuous underperformance." A Siemens Gamesa spokesperson declined to comment. "I want us to move away from silo thinking and for us to believe in the turnaround", Luijendijk said in the memo. ($1 = 0.9420 euros)Reporting by Andres Gonzalez, editing by Pamela Barbaglia and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Three dead as blast shuts part of Russia-Ukraine gas export pipeline
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, Dec 20 (Reuters) - A blast ripped through a gas pipeline in central Russia, killing three people and disrupting some of the limited amount of Russian gas that is still reaching Europe, local officials said on Tuesday. He said it was unclear when gas supplies via the pipeline could resume, and authorities were trying to work that out. The pipeline, built in the 1980s, enters Ukraine via the Sudzha metering point, currently the main route for Russian gas to reach Europe. Europe's gas prices have surged this year after Russia cut exports through its main gas pipeline route into Germany, leaving only pipelines via Ukraine to ship Russian gas to European consumers. The head office of the state-owned gas producer Gazprom and its local branch did not immediately respond to requests for comment.

Companies could also move their gas trading off energy exchanges, where the EU price cap will apply, and instead conduct private transactions. The EU cap will not initially cover these "over-the-counter" (OTC) trades, although the bloc will review next year if they should be included. The EU price cap applies to EU hubs, but not those outside the bloc, such as Britain's National Balancing Point (NBP) trading hub. Front-month TTF prices met the price level required to trigger the EU cap on about 40 days this year. EU gas demand dropped by 20% in August-November this year, compared with the five-year average for the same period, Eurostat said on Tuesday.

China, the world's top crude oil importer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions but said it plans to step up support for the economy in 2023. Brent crude gained 76 cents to settle at $79.80 a barrel, while U.S. West Texas Intermediate crude rose 90 cents to $75.19. Oil surged toward its record high of $147 a barrel earlier in the year after Russia invaded Ukraine in February. It has since unwound most of this year's gains as supply concerns were edged out by recession fears. "The prospect of further rate rises will hit economic growth in the new year and in doing so curb demand for oil," said Stephen Brennock of oil broker PVM.

The aim is to shield European households and businesses from the kind of gas price spikes experienced since Russia's invasion of Ukraine. WHY CAP GAS PRICES? Gas prices have eased in recent months as the EU agreed some emergency measures, including obligations to fill gas storage, but they remain high. The EU price cap would not drop below 180 eur/MWh, even if the LNG price fell to far lower levels. The EU price cap is designed to be a temporary fix that would apply for one year.

☆ Oil rises on hopes for China's economy
▼ + stars: | 2022-12-19 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

China, the world's top crude oil importer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions but said it plans to step up support for the economy in 2023. "There is no doubt that demand is being adversely influenced," said Naeem Aslam, analyst at brokerage Avatrade. Brent crude gained 65 cents, or 0.8%, to $79.69 a barrel by 1248 GMT while U.S. West Texas Intermediate crude rose 85 cents, or 1.1%, to $75.14. Oil surged towards its record high of $147 a barrel earlier in the year after Russia invaded Ukraine in February. "The prospect of further rate rises will hit economic growth in the new year and in doing so curb demand for oil," said Stephen Brennock of oil broker PVM.

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