INTERNATIONAL ENERGY AGENCY
UN nuclear watchdog's board of governors finds Iran isn't complying with its nuclear obligations
The U.N. nuclear watchdog's board of governors has formally declared Iran non-compliant with its nuclear obligations, marking the first such finding in two decades. This action, initiated by France, the U.K., Germany, and the U.S., could escalate tensions and potentially trigger the reinstatement of U.N. sanctions.
North Korea expands nuclear program as Trump open to talks amid domestic challenges
North Korea is accelerating its nuclear weapons development with new construction at Yongbyon and potential enrichment activity, the IAEA reports. As tensions rise in the region, President Donald Trump remains open to reengaging with Kim Jong Un, even while facing mounting legal and political issues at home
Israel-Iran war looming? US evacuates non-essential staff from middle-east, UK cautions ships in Gulf
Amid rising tensions with Iran over its nuclear program, the U.S. is reducing its non-essential staff presence in the Middle East, including Baghdad, Bahrain, and Kuwait. This decision reflects concerns about regional unrest, with potential impacts on maritime activities. While diplomatic talks face uncertainty, military readiness and security assessments are being closely monitored.
Rare earths and magnets minerals elements: Why are these giving China edge in trade war with USA?
Rare earths and magnets minerals elements have hogged all the limelight during the US-China trade war.
Donald Trump announces U.S-China trade deal involving rare earths: Key points you need to know
Donald Trump said the U.S. and China made a new trade deal. China will give the U.S. rare earth minerals, and in return, Chinese students can study in the U.S. Talks happened in London, but the deal still needs final approval. Some concerns about forced labor remain, as per reports.
Iran says to submit own nuclear proposal to US soon
Iran is set to present a counter-proposal on the nuclear deal to the US via Oman, describing its offer as ambiguous and lacking elements from previous talks. This comes as Tehran insists on uranium enrichment as a non-negotiable right, while the US views it as a red line.
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Auto companies 'in full panic' over rare-earths bottleneck
Global automakers are alarmed by China's rare-earth export restrictions, fearing a new supply chain crisis. With limited alternative magnet sources, companies are stockpiling and seeking workarounds to avoid factory shutdowns. The industry's reliance on China for critical raw materials raises concerns about future leverage and potential disruptions.
As Musk exits, DOGE employees are being booted from offices; many fired staff now being rehired
Following Elon Musk's departure from the Trump administration, his Department of Government Efficiency (DOGE) is collapsing, leading to the removal of his allies and the reinstatement of previously fired government employees. This reversal is fueled by Musk- Trump feud, which has diminished his influence and led to the purging of DOGE staff from various agencies, including the FAA.
Critical mineral investments stalled by economic uncertainty despite strong demand outlook: IEA
The IEA reports weakened investment momentum in critical minerals in 2024, despite strong demand expectations. Exploration plateaued, and funding for startups slowed. Refined material production concentrated among top suppliers like Indonesia and China, increasing geographic concentration. Surging supply, particularly from these nations, drove down prices for battery metals, with lithium prices plummeting over 80% since 2023.
Indian envoy to China meets top Chinese foreign ministry official, discuss bilateral ties
Indian and Chinese diplomats met to discuss implementing agreements made by their leaders, focusing on cultural exchanges and managing differences for stable relations. This meeting, the first since Operation Sindoor, occurs as preparations finalize for resuming the Kailash Manasarovar Yatra after a four-year military standoff. Discussions also addressed concerns over China's rare earth metal export controls.
Refiners Reliance and Nayara tap India's drivers as export markets tighten
India's private refiners, Reliance Industries and Nayara Energy, are shifting focus to domestic fuel sales due to squeezed global profit margins. They are capitalizing on India's growing fuel demand by offering discounts and expanding retail networks. This strategic shift allows them to leverage cheaper crude oil and compete effectively with state-owned refiners.
Iran escalates IAEA feud after 'slanderous' espionage assertion
Iran is intensifying its conflict with the IAEA, alleging slander and flawed evidence from inspectors, as revealed in a legal brief before a Vienna meeting. This escalation occurs amidst stalled talks with the US concerning Iran's nuclear program, particularly regarding uranium enrichment rights. Iran criticizes the IAEA's Director General for misrepresenting its activities with inaccurate information.
China silent about lifting export curbs on rare earth metals amid growing concerns in India, world
China is maintaining its export restrictions on rare earth metals, despite international pressure from the US, EU, and India. These metals are crucial for manufacturing various products, including electronics, automobiles, and military equipment. Concerns are growing globally about potential shortages and production stoppages, as evidenced by Suzuki's recent production halt in Japan due to these restrictions.
Towards Net Zero: Rethinking business for a sustainable future
Indian businesses are increasingly focused on achieving net-zero emissions by 2070, integrating sustainability into their core strategies. Companies are measuring their environmental impact, reducing carbon footprints, and adopting renewable energy sources. Embracing energy efficiency, digitalization, and regulatory compliance is crucial for driving sustainable practices and contributing to India's broader environmental goals.
Space’s ‘Bermuda Triangle’ growing as mysterious force under Earth’s outer core may cripple International Space Station, NASA perplexed
The South Atlantic Anomaly(SAA), a region of weakened magnetic field over South America and the Atlantic, is intensifying. This disruption is affecting satellites, the International Space Station, and space missions, and has puzzled scientists worldwide. Linked to Earth's core dynamics and a massive structure beneath Africa, the anomaly exposes spacecraft to increased radiation, causing malfunctions.
Clean energy investment rising despite economic uncertainty: IEA
Global investment in clean energy technologies is projected to reach a record high this year, surpassing fossil fuel investments, which are expected to decline. This surge is driven by energy security concerns and rising electricity demand, including from AI and data centers.
China issues bounty for hackers it says are linked to Taiwan
Chinese authorities accused Taiwan of organising, planning and premeditating attacks on key sectors such as military, aerospace, government departments, energy and transportation, maritime affairs, science and technology research firms in China as well as in special administration regions Hong Kong and Macau, Xinhua said.
'India Inc well positioned to handle tariff, geopolitical challenges; capex to be measured'
Moody's and Icra Ratings suggest Indian enterprises are well-prepared to navigate tariffs and geopolitical tensions, though investment decisions will be cautious. Government initiatives are expected to bolster domestic demand, offsetting global headwinds. While some sectors face challenges, infrastructure and urban consumption are poised for growth, requiring substantial investments to meet net-zero targets.
Meta's nuclear deal signals AI's growing energy needs
Meta's 20-year deal with Constellation Energy follows similar maneuvers from Amazon, Google and Microsoft, but it will take years before nuclear energy can meet the tech industry's insatiable demand for new sources of electricity.
Diversify critical mineral supply chain or face disruption, warns IEA
The International Energy Agency (IEA) warned that the global reliance on a few countries, mainly China, for mining and processing critical minerals could disrupt supply and raise prices. IEA chief Fatih Birol urged countries to diversify sources and advised India to incentivise electric vehicles to cut oil imports. He praised India’s shift towards clean energy as a global success story.
Piyush Goyal discusses opportunities in Indian shipping sector with Singapore
Commerce and Industry Minister Piyush Goyal met with Singapore's Deputy Prime Minister Gan Kim Yong in Paris to discuss strengthening economic ties, particularly in the Indian shipping sector. Goyal highlighted India's significant opportunities, aiming to boost trade and reduce transportation costs.
Electric cars key to India's energy independence, says IEA chief
IEA Executive Director Fatih Birol advises India to prioritize electric vehicle adoption to enhance energy security and reduce reliance on oil imports, highlighting the global surge in EV sales and their decreasing costs.
Trump appears to undercut US proposal to Iran, declaring he won't allow any uranium enrichment
President Trump seemingly contradicted his envoy's Iran proposal, insisting on complete nuclear enrichment dismantling for sanctions relief. This stance clashes with reports of a plan allowing low-level enrichment for civilian purposes under strict conditions. The conflicting messages raise questions about the U.S. approach amid ongoing negotiations and international scrutiny over Iran's nuclear activities.
UN, Iran and Egypt face off over nuclear future
Iranian Foreign Minister Abbas Araghchi met with Egyptian President Abdel Fattah el-Sissi and Egyptian Foreign Minister Badr Abdelatty, though it was unclear if Araghchi would meet directly with Grossi. The two spoke by phone early Sunday.
India should focus closely on mobility electrification: IEA executive director
IEA Executive Director Fatih Birol advises India to prioritize electric mobility to ensure its energy security and reduce reliance on oil imports. He suggests offering incentives for electric car purchases, noting their increasing affordability and cost-effectiveness compared to gasoline vehicles. Birol also cautions about the risks associated with the growing concentration of critical minerals essential for energy transition and defense.
Key climate target of airline decarbonisation 'in peril': IATA
IATA warns that the airline industry's 2050 decarbonisation target faces challenges. Policies favouring fossil fuels are slowing progress. Sustainable Aviation Fuel is crucial but expensive. Investment of $4.7 trillion is needed.
Iran says it's not after nuclear bombs as it rejects IAEA report
Iran has dismissed a UN nuclear watchdog report accusing it of nuclear violations, asserting the agency is politically motivated and reiterating its stance against seeking atomic weapons. The IAEA report indicated Iran's increased stockpile of near weapons-grade uranium and undeclared nuclear activities. Amid Oman-mediated talks with Washington, Iran warns of responding to any improper actions by European parties.
Iran has amassed even more near weapons-grade uranium, UN watchdog says
A recent U.N. nuclear watchdog report reveals Iran has significantly increased its stockpile of uranium enriched to near weapons-grade levels, reaching 408.6 kilograms as of May 17. This marks a substantial increase of 133.8 kilograms since February, prompting the IAEA to urgently call on Tehran to cooperate fully with the agency's investigation.
OPEC+ agrees July oil output hike of 411,000 bpd, sources say
OPEC+ nations have decided to increase oil production by 411,000 barrels per day for July, mirroring the increases seen in May and June. This decision comes as the group aims to regain market share and address instances of overproduction by certain members. While some members are increasing supply, adjustments are being made to compensate for past overproduction.
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