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Russia’s war could cause vodka price surge

Published Wed, 26 Feb 2025 05:03:42 GMT

Vladimir Putin’s war on Ukraine might just make Russians thirsty.Russia’s alcohol-producers lobby has asked Finance Minister Anton Siluanov to increase vodka’s minimum price by 7 percent to cope with rising costs linked to Moscow’s full-scale invasion of Ukraine, reports show.The proposal from the Union of Alcohol Producers, reported Thursday by Russian business daily Kommersant, would put floor retail prices for Russians’ favorite tipple at 602 rubles per liter — €5.80 — from 2024.To justify the surge, alcohol-makers cite rising import prices and logistical costs linked to the ruble’s devaluation, as well as a planned increase on an excise tax on vodka.Currently under consideration by the finance ministry, the producers’ plea is likely to be accepted by the authorities, Kommersant reports, citing “two sources in the [alcohol] industry.”Under heavy international sanctions, Russia’s increasingly isolated economy is also grap...

Taiwan is closely watching the Hamas-Israel war for lessons as it faces intimidation from China

Published Wed, 26 Feb 2025 05:03:42 GMT

TAIPEI, Taiwan (AP) — Taiwan is closely watching the war in the Middle East sparked by the unprecedented attack on Israel by Hamas militants from Gaza for lessons amid what the self-governing island says is a campaign of intimidation and threats by China.Hamas staged a stunning and massive incursion into Israel last weekend, killing hundreds in Israel and dragging dozens into Gaza as hostages. In retaliation, Israel’s increasingly destructive airstrikes in Gaza have flattened entire city blocks. The latest conflict, which has claimed at least 2,400 lives on both sides, is expected to escalate.Taiwanese Defense Minister Chiu Kuo-cheng, said on Thursday that the Hamas-Israel war “blew up so suddenly,” prompting Taiwan to up its ability to forecast possible threats. “We’ve established a working group to study and … reinforce the importance of collecting intelligence,” he said ahead of a meeting of the legislature.China, which claims Taiwan as part of its territory, has cond...

As strikes devastate Gaza, Israel says it’s preparing for possible ground assault

Published Wed, 26 Feb 2025 05:03:42 GMT

JERUSALEM (AP) — Palestinians in Gaza lined up outside bakeries on Thursday after spending the night in pitch darkness surrounded by the ruins of pulverized neighborhoods, as Israel launched new airstrikes and said it was preparing for a possible ground invasion. International aid groups warned that deaths in Gaza could accelerate as Israel prevents delivery of supplies. The war, which was ignited by a bloody and wide-ranging Hamas attack into Israel, has already claimed at least 2,400 lives on both sides.Lt. Col. Richard Hecht, an Israeli military spokesman, told reporters Thursday that forces “are preparing for a ground maneuver if decided,” but that the political leadership has not yet ordered one. A ground offensive in Gaza, the first since the 2014 war, would likely bring even higher casualties on both sides in brutal house-to-house fighting.In Gaza, Palestinians fleeing airstrikes can be seen running through the streets, carrying their belongings and looking for a safe p...

Norway activists press on with their protest against wind farm on land used by herders

Published Wed, 26 Feb 2025 05:03:42 GMT

COPENHAGEN, Denmark (AP) — Dozens of activists in Norway on Thursday blocked the entrance to one of the main operators of a wind farm they say hinders the rights of the Sami Indigenous people to raise reindeer,At the center of the dispute are the 151 turbines of Europe’s largest onshore wind farm, which is located in central Norway’s Fosen district, about 450 kilometers (280 miles) north of the capital of Oslo. The activists say a transition to green energy shouldn’t come at the expense of the rights of Indigenous people.They have demonstrated repeatedly against the wind farm’s continued operation since the Supreme Court of Norway ruled in October 2021 that the construction of the turbines had violated the rights of the Sami, who have used the land for reindeer for centuries.On Thursday, the activists sat down on the ground outside the building in Oslo of Statkraft, a state-owned company that operates 80 of the wind turbines at Fosen. ”We expect to block all visible entrances, ”acti...

Japanese automaker Toyota and energy company Idemitsu to cooperate on EV battery technology

Published Wed, 26 Feb 2025 05:03:42 GMT

TOKYO (AP) — Japan’s top automaker Toyota agreed Thursday to work with Idemitsu, a major Japanese oil company, on technology for mass production of solid-state batteries that promise to be a key component in future electric vehicles.The deal is an important step for Toyota Motor Corp., which has promised to speed up its battery EV offerings and catch up after having fallen behind rivals like Tesla and China’s BYD. Toyota lags partly because of its success in hybrids, like the Prius, that are equipped with both gasoline engines and battery-powered motors.Toyota, with its production finesse, and Idemitsu, which owns technologies in materials, said they are aiming for successful commercialization of all-solid-state batteries in 2027 or 2028, followed by full-scale mass production.“With repeated efforts involving trial and error, we have succeeded in developing a material that is more stable and less prone to crack,” Toyota Chief Executive Koji Sato told reporters in Tokyo, after ...

Russian President Putin arrives in Kyrgyzstan on a rare trip abroad

Published Wed, 26 Feb 2025 05:03:42 GMT

President Vladimir Putin arrived in Kyrgyzstan on Thursday on a rare trip abroad for the Russian leader who was indicted earlier this year by the International Criminal Court for war crimes in Ukraine.Putin was to meet with Kyrgyz President Sadyr Zhaparov on Thursday. He will take part on Friday in the Commonwealth of Independent States summit, which Kyrgyzstan is hosting. The leaders of Azerbaijan, Belarus, Kazakhstan, Tajikistan, Turkmenistan and Uzbekistan will also attend the summit. Armenian Prime Minister Nikol Pashinyan will skip it, as Yerevan’s relationship with Moscow has frayed amid mutual accusations.It is the first time this year that the Russian president has traveled outside Russia and Russian-held territories of Ukraine. Earlier this year, Putin visited the partially occupied Ukrainian regions of Donetsk, Luhansk and Kherson, as well as the annexed Crimean Peninsula.In March, the International Criminal Court issued an arrest warrant for Putin over the deportati...

Stock market today: Asian shares rise with eyes on prices, war in the Middle East

Published Wed, 26 Feb 2025 05:03:42 GMT

TOKYO (AP) — Asian shares mostly rose Thursday as investors awaited the release of U.S. consumer price data and kept a cautious watch on the war between Israel and the Palestinian militant group Hamas. Japan’s benchmark Nikkei 225 jumped 1.8% to finish at 32,494.66. Sydney’s S&P/ASX 200 inched up less than 0.1% to 7,091.00. South Korea’s Kospi added 1.1% to 2,477.54. Hong Kong’s Hang Seng surged 2.2% to 18,283.66, while the Shanghai Composite rose 0.9% to 3,106.21. “Recent remarks from FOMC members have leaned dovish, suggesting that the Fed might maintain current short-term rates,” Anderson Alves at ActivTrades said in a report, referring to the U.S. Federal Reserve’s action on interest rates.Tensions in the Middle East are under the spotlight, with a possible escalation if nations like Lebanon or Iran are drawn in, which would set off significant movement in U.S. Treasuries, he said. On Wall Street, the S&P 500 rose 0.4% to 4,376.95 for its fo...

Sri Lanka says it has reached an agreement with China’s EXIM Bank on debt, clearing IMF funding snag

Published Wed, 26 Feb 2025 05:03:42 GMT

COLOMBO, Sri Lanka (AP) — Sri Lanka says it has reached an agreement with the Exim Bank of China on key terms and principles for restructuring its debt, a key step toward unlocking a second instalment of a $2.9 billion package from International Monetary Fund aimed at rescuing the island nation from a dire economic crisis.The finance ministry said in a statement issued Wednesday that the agreement covers $4.2 billion in outstanding debt and is an important step toward Sri Lanka’s economic recovery.The statement said the deal provides the necessary fiscal space for Sri Lanka to implement its economic reform agenda. “The Sri Lankan authorities hope that this landmark achievement will provide an anchor to their ongoing engagement with the official creditor committee and commercial creditors, including the bondholders,” it said. Authorities hope this will anchor their debt restructuring program and facilitate approval of the next tranche of IMF financing of about US$334 million.An...

More Canadians support using notwithstanding clause in ‘parental rights’ debate: poll

Published Wed, 26 Feb 2025 05:03:42 GMT

OTTAWA — Nearly half of Canadians say they support their province using the notwithstanding clause to ensure that schools tell parents if their child wishes to use a different name or pronoun, a new poll suggests, and more people support that idea than oppose it. New data also suggest a majority of Canadians believe teachers should have to notify parents of such changes. Just under half said that should be the case even if a child tells their teacher they don’t feel safe informing their parents.Polling firm Leger recently asked Canadians a series of questions regarding the ongoing debate around “parental rights.”The phrase, which refers to parents’ desire to be involved in the decisions of their children and of schools, has gained increasing traction in Canada over the past year.Many people who use the term say they are concerned about lessons kids are learning on the topics of gender identity and sexual orientation. Those pushing the issue have also been cri...

Blustery, wet autumn storm to churn Lake Michigan and substantial rainfall totals

Published Wed, 26 Feb 2025 05:03:42 GMT

The weekend is to find Chicago in a tight pressure gradient between the backside circulation of the eastbound storm and a broad area of Canadian high pressure.  The full-fetch (i.e. "full length of Lake Michigan") and t 30+ mph wind gusts expected to develop are to churn Lake Michigan as vigorously as in any previous situation this fall.  This could build waves that top 12 ft.—so this WON'T BE THE WEEKEND to plan Lake Michigan outings.  What's more, temps riding these winds into the area as they sweep across the still warm waters of Lake Michigan set the stage for some lake effect showers Sunday and Monday. Some less populated regions reach their peak in September, while the southernmost states peak in mid-November. New England, including Northern Vermont, New Hampshire, and northwestern Maine, attracts approximately ten million visitors annually to enjoy the autumn beauty, while parts of New York, Massachusetts, and Pennsylvania experience peak foliage later in October.