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The future of gas transit through Ukraine is at a turning point. If a last-minute deal isn’t struck by Wednesday, billions of cubic meters in gas flows could come to a halt. Ukraine is under mounting pressure from Slovak Prime Minister Robert Fico and a group of central European companies to keep gas moving from its eastern border with Russia into the European Union following the expiration of a transit agreement on Dec. 31. Almost three years after the full-scale Russian invasion of Ukraine, Budapest and Bratislava still rely on cheap gas from Gazprom PJSC, undermining the EU push to cut reliance on Russian energy. With three days to go before the Russia-Ukraine agreement runs out, rhetoric on all sides has sharpened. Ukraine’s President Volodymyr Zelenskyy earlier this week accused Fico of striking “shadow agreements” with Russian President Vladimir Putin. The Slovak leader on Friday threatened to halt power supplies to his eastern neighbor, a step Ukraine criticized. To diplomats with knowledge of the talks, the escalation hasn’t come as a surprise. Past disputes over gas transit between the two former partners saw flows cut or reduced at short notice — and deals clinched at the very last minute. Energy traders, industry leaders and politicians in Europe and elsewhere are still looking to the three leaders for signs of what might come next. Zelenskyy has repeatedly stated that he won’t allow Russian gas, which benefits the Kremlin’s war machine, to transit through Ukraine after the current deal ends. He’s said that he would be open to transporting gas from countries other than Russia — an option that people with knowledge of the talks say isn’t completely off the table. In making the decision, the Ukrainian leader must consider the need to protect the country’s 38,600-kilometer (23,985-mile) gas pipeline system. The network, among the world’s largest, has been spared attacks over the last three years as Russian gas has flowed though it. If that were to stop, the system might become a target for missile strikes, as gas storage facilities and power supplies have been. It would also create technical challenges that would make it difficult to heat homes across Ukraine during the winter. “The issue of risks for Ukrainian infrastructure is reverberating in diplomatic discussions,” said Christian Egenhofer, senior researcher at the CEPS think-tank in Brussels. “It may prove a lifeline for Zelenskyy if he opts to allow for continued transit.” At the same time, Egenhofer noted, “the gas talks will matter beyond Ukraine.” For both Putin and Fico, the most profitable option would be for European buyers to continue purchasing gas directly from Gazprom. Russia would then remain in the EU market without having to share revenue with intermediaries, and Slovakia would save on additional transit costs, according to people with knowledge of the talks who asked not to be identified. Ukraine’s Ministry of Foreign Affairs said on Friday that talks are ongoing and a last-minute deal cannot be completely ruled out. Before the war, the executive arm of the European Union helped broker transit agreements between Kyiv and Moscow. Now, because of the bloc’s efforts to diversify energy sources away from Moscow and expand renewables, the European Commission is staying out of negotiations. Instead, it has stressed that alternatives sources are available and the region’s gas storage levels are high. In February, the EU’s executive arm will unveil a plan to further phase out Russian fossil fuels, which it says the Kremlin has turned into a political weapon. Its implementation hinges on member states: in addition to pipeline flows to Slovakia and Hungary, Russian liquefied natural gas is also shipped to ports in France, Belgium and Spain. “The row over the Russian gas will worsen the wedge between EU members, aligning neatly with Russia’s interest in seeing European support for Ukraine fracture,” said Bota Iliyas, a senior analyst at PRISM, a strategic intelligence firm. The end of gas flows through Ukraine will have a “negligible” impact on European gas prices, the commission said earlier this month, noting that markets have already priced in the end of the transit deal. European gas prices rose 48% this year, in anticipation of supply cuts combined with rapidly depleting gas reserves due to periods of cold and windless weather. While costs are still far below the 2022 records reached during the energy crisis triggered by the first phase of the war, they’re high enough to impact households and manufacturers. The absence of an intergovernmental agreement between Russia and Ukraine complicates but doesn’t rule out a commercial deal involving European companies. Slovakia’s gas utility Slovensky Plynarensky Priemysel AS and its gas network operator Eustream AS — alongside Hungary’s MOL Hungarian Oil and Gas Plc., trade associations and large industrial customers from Austria and Italy — have urged Zelenskyy to allow shipments to continue. The volume being discussed is 15 billion cubic meters a year, the amount that currently moves through Ukrainian pipelines. Following his meeting with Putin in Moscow a week ago, Fico said that Russia was ready to continue delivering gas to the West via Ukraine, but this would be “practically impossible” after Jan. 1 given Kyiv’s stance. In response, Zelenskyy said he’d offered to compensate Fico for the additional costs that Slovakia would accrue should Russian gas transit end. He said he was also ready to allow shipments of non-Russian fuel if a request was to be made by the European Commission — an offer which he claimed the Slovak leader rejected. The spat escalated further late on Friday, when Fico said in a video posted on Facebook that if the flows stop, he’ll assess potential reciprocal measures, including halting power supplies that Ukraine needs during its network outages. The end of transit of Russian gas would cost the EU an additional 120 billion euros ($125 billion) in energy costs over the next two years, according to Fico. “Stopping the transit of Russian natural gas through Ukraine is not just a hollow political gesture. It’s an extremely costly move, one that we, in the European Union, will pay for,” Fico said. Ukraine’s Energy Minister German Galushchenko hit back on Saturday, telling a local television station that he alerted the EU and the region’s energy community that a halt in power supply will violate European regulations. He added that Ukraine has mechanisms to substitute Slovak electricity with more imports from other partners. With the deadline approaching, alternative solutions are being considered. SPP has been in talks with Azerbaijan’s state-owned oil company about sourcing Azeri gas, according to people with knowledge of the talks. That may require a swap between Gazprom and Socar, in which the Azeri company would purchase corresponding volumes from Russia to deliver to European buyers. Hungarian Prime Minister Viktor Orban has also proposed moving the location of Russian gas sales to the physical border between Russia and Ukraine, which would transfer gas ownership to European buyers and oblige Ukraine to ensure transit under its free trade agreement with the EU, according to people with knowledge of the issue. Putin acknowledged various proposals on Thursday that would allow Hungary, Slovakia, Turkey or Azerbaijan to take control of the gas shipped through Ukraine. He noted that any such arrangement would be difficult to enact because of Gazprom’s long-term contracts. Before the invasion of Ukraine in February 2022, Russia was the EU’s top gas supplier, providing more than 40% of the bloc’s imports. Following the outbreak of the war and a cut in supplies, Europe accelerated its shift away from Russian energy. Last year, Russian gas made up around 8% of EU imports. Permitting further Russian gas to transit through Ukraine would undermine the message that the EU can no longer do business as usual with Putin’s Russia, said Benjamin L. Schmitt, senior fellow at the CEPA think-tank and the University of Pennsylvania’s Kleinman Center for Energy Policy. “The stakes couldn’t be higher,” Schmitt said in a research note. “Continuing Russian gas transit in any form — whether through an overt contract extension with Kremlin-controlled Gazprom, or under any other name, but still de facto Russian — would be dangerous for Ukraine.” ——— (With assistance from Daryna Krasnolutska and Daniel Hornak.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.
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Bike Bags Market Future Outlook, COVID-19 Impact Analysis, Forecast - 2031 12-28-2024 02:56 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Orion Market Research Bike Bags Market The global bike bag market is anticipated to grow at a CAGR of 6.3% during the forecast period. Bike bags fit under the bicycle seat and usually attach to the rails of the saddle itself. Larger models can carry a few extra items while traveling. There are lots of options, with cycling-specific backpacks offering plenty of capacity and stability in the market. Many cycling packs are lightweight, waterproof, and feature a roll-top for easy opening. Many packs, such as the Ortlieb Velocity, come in multiple color options too, or in patterned fabrics. While road trips, bike packing bags assist in carrying stuff such as a sleeping bag, spare clothing, and a bivvy sack. The bike bag market growth is backed by the increasing inclination of people toward outdoor recreational activities such as cycling, camping, hiking, and others. Get Free Sample link @ https://www.omrglobal.com/request-sample/bike-bag-market Since the COVID-19 pandemic, demand for bicycles has increased due to the closure of gyms and swimming pools in many regions. Some nations rewarded the purchase of new bikes or bike maintenance expenditures in a bid to encourage ridership during the pandemic. Italy, for instance, allocated $250 million toward a cash-back Programme through which Italian residents who purchased a vehicle without an engine such as a bicycle were eligible for a $590 stipend, while France has established a similar Programme. This has increased people to adopt bicycles along with accessories such as bags. Apart from these, rising heightened anxiety over public transportation and a surge in exercise has meant that more and more people are choosing to use one of the most basic forms of mobility such as biking, which in turn led to the product demand. Full report of Bike Bags Market available @ https://www.omrglobal.com/industry-reports/bike-bag-market Segmental Outlook The global bike bag market is segmented based on the material type, design, and distribution channel. Based on the material type, the market is sub-segmented into polyester, fabric, leather, and others. Among these, the leather segment is likely to hold a lucrative share in the market during the forecast period. Leather is considered an excellent material for making products for bikes due to its durability, and sturdiness, and can withstand almost any type of weather, and features. This versatility makes them for many people the best way to carry more gear. Based on the design, the market is classified into panniers, handlebars, saddles, trunks, frames, and others. Among these, the panniers segment is projected to show the fastest growth in the market. Panniers are a utilitarian solution for carrying luggage. Such type of bike bags takes the complete luggage weight and provides comfort to biker by reducing the burden on their shoulders. In addition, these bags also allow a rider to carry far more in terms of both weight and volume compared to using a backpack. Owing to these benefits, the demand for pannier bags is high, and it is further expected to increase during the forecast period. Based on the distribution channel, it is further sub-segmented into online and offline. Regional Outlook Geographically, the global bike bag market is classified into major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Europe is predicted to show impressive growth in the market due to rapid growth in cycling culture in the region's major economies. In Finland, 60% population was reported to use bicycles in 2019. Moreover, almost a quarter of the Dutch population cycles every day. Altogether the Dutch own 22.5 million bicycles. This means that on average they own 1.3 bicycles per capita in 2018. In addition, people in Netherland also take part in various cycling events and tournaments which creates demand for high-end bike bags. Reasons to Buying From us - 1. We cover more than 15 major industries, further segmented into more than 90 sectors. 2. More than 120 countries are for analysis. 3. Over 100+ paid data sources mined for investigation. 4. Our expert research analysts answer all your questions before and after purchasing your report. For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/bike-bag-market Media Contact: Contact Person: Mr. Anurag Tiwari Email: anurag@omrglobal.com Contact no: +91 780-304-0404 Company Name: Orion Market Research About Orion Market Research Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies. 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(TNS) — Artificial intelligence is rapidly gaining popularity. And the Chicopee Police Department wants to buy in. AI is one of the many technological advancements the police department is looking to provide its officers. The department also hopes to provide cutting-edge equipment and a center that would provide real-time information to officers. At a City Council meeting this week, Mayor John Vieau told the council that “public safety is paramount.” “We want to make sure (the police department) has the right tools to not only protect themselves but to protect everyone who lives here,” he said. On Monday, the city’s finance subcommittee will discuss and decide whether to approve appropriations for new body and dash cameras, Tasers, a Real-Time Crime Analysis Center and staff to run it. This is not the first time the police department has stepped toward using forward-thinking technology. Last year, it purchased a one-year subscription for Fusus, short for “ ," a software that . “We integrated it into our city cameras and other systems,” said Chicopee Police Deputy Chief Eric Watson. “The software brings everything together on one screen and has all the information.” Over the last year, the department has spent time building out the software and is now looking to hire analysts. The police department has a contract with — an Arizona company that provides technology to law enforcement and the military. In July, the Chicopee Police Department was for nearly a quarter of a million dollars for body cameras. Axon has also provided the department the Fusus software and its Tasers. At the City Council meeting, Chicopee Police Chief Patrick Major discussed the finances required to fund the new technology, which includes body cameras that will immediately translate from other languages to English, improved Tasers and expedited report writing. The finance subcommittee will need to approve shifting an appropriation of $447,461 from the city’s stabilization fund to the police department’s computer software expense account. This money will be used for the purchase of body and dash cameras, the lease of Tasers, the continuation of the FUSUS program, cameras for the department’s interview and booking rooms, and cloud-based storage, according to City Council meeting documents. Major said the department has received $300,000 in grant funding to offset the cost of this program. The department will also need to approve the transfer of $147,000 for the Axon AI Era Plan, which will “increase efficiency, (enable) faster decision-making, and streamline processing for time-saving while keeping police ahead of emerging public safety challenges and threats,” according to the documents. The requests include salaries for newly proposed positions, including an information and technology systems engineer, a real-time investigative crime analyst and a supervisory position for the crime analyst. Springfield’s Police Department introduced its Real-Time Analysis Center in January 2018. Coming up on its , the center had a rough start but the police department now relies heavily on the center for support, said Director Bill Schwarz. “We have the ability to provide responding officers with real-time intelligence,” he told . Schwarz, a former Connecticut police officer, said the center is staffed by civilians, not police. Its staff has grown nearly six-fold, going from three to 17 employees. “We have a variety of talent: College graduates, people who have worked at surveillance companies, data analysts, geographic information system (GIS) experts,” he said, explaining that the staff members run a 24-hour operation. A few weeks ago, Vieau, some members of the police department and Chicopee city councilors visited the Springfield Real-Time Analysis Center for a briefing. Watson, the deputy chief, said Springfield’s operational model is similar to what the Chicopee Police Department would implement, just on a smaller scale. He explained that Fusus, the software integrated into the city-wide camera systems, was the preliminary step into creating a Real-Time Analysis Center. The next step would be to hire staff to oversee the center. “These centers provide real-time information,” he said. “So we would have staff trained as analysts to identify trends and create reports, help with predictive policing and analysis based on trends, and provide investigators with technological support via video after the fact.” Watson also discussed the ethics of using artificial intelligence in policing and emphasized that Axon’s use of AI has “guardrails.” Axon’s AI is not generative, meaning it does not create new content, he said. “Axon uses responsible and ethical AI,” he said. “Nothing happens without an officer or an employee who is in control.” The company has its own , which was created to understand the technology from a racially aware and ethically responsible lens. (Artificial intelligence) makes the process more streamlined," he said. “To not use technology that is available to make things streamlined is, at that point, irresponsible.” Tim Wagner, an at-large City Council member, and Mary Beth Pniak-Costello, the City Councilor for Ward 9, both commended the police department for considering taking this leap. “With all of this AI innovation, (the police department has) assured me that there will be appropriate civilian safeguards and human checks on all of the technology .... I think it’s going to be game-changing in terms of policing not just in Chicopee or the Commonwealth, but across the nation,” Wagner said. Pniak-Costello said the new technology would ease the minds of her constituents who have been asking about body cameras at the police department. “Constituents agree with the mayor — public safety is their main concern and you are addressing public safety with this initiative,” she told Major, the police chief. Vieau said he is excited about the technology and the future of the police department. The advances, he said Tuesday night, would not only protect the patrol officers, but “build (the) public’s trust as we handle those situations in real time.” The finance subcommittee meeting is on Monday at 6:30 p.m. at City Hall. Committee members will decide whether the new technology will be added to the department’s toolbox. Members of the public are encouraged to share their views.NYT Strands December 29, 2024: Clues, answers, Spangram for today
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French tycoons lose £55bn as global demand for luxury goods slumps By DAILY MAIL CITY & FINANCE REPORTER Updated: 13:41, 28 December 2024 e-mail View comments Three of the richest people in France have lost more than £55bn this year amid subdued demand for luxury goods worldwide and political turmoil at home. LVMH chief Bernard Arnault (pictured with wife Helene) has seen £25bn wiped off his wealth in 2024, but is still the fifth richest man in the world with £140bn, according to Bloomberg's Billionaires Index. L'Oreal heiress Francoise Bettencourt Meyers, once the world's richest woman, has lost £20bn and Kering tycoon François Pinault is £11bn worse off. They are now worth £60bn and £17bn respectively. The losses came as shares in LVMH, L'Oreal and Kering - the company behind Gucci - tumbled on the stock market in Paris following years of gains. LVMH chief Bernard Arnault (pictured with wife Helene) has seen £25bn wiped off his wealth in 2024, Sales of luxury goods and cosmetics soared after the pandemic as the wealthy splashed out. But a slowdown in demand, particularly in China, has sent shares tumbling while the collapse of the French government has also hit investment in the country. Arnault, 75, has built LVMH into one of Europe's largest companies with brands such as Louis Vuitton, Christian Dior and Moet & Chandon. Bettencourt Meyers, 71, whose grandfather founded L'Oreal, became the first woman to amass a $100bn fortune last year. Pinault, 88, set up the company that is now Kering in 1962. DIY INVESTING PLATFORMS AJ Bell AJ Bell Easy investing and ready-made portfolios Learn More Learn More Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas Learn More Learn More interactive investor interactive investor Flat-fee investing from £4.99 per month Learn More Learn More Saxo Saxo Get £200 back in trading fees Learn More Learn More Trading 212 Trading 212 Free dealing and no account fee Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. Compare the best investing account for you Share or comment on this article: French tycoons lose £55bn as global demand for luxury goods slumps e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence. More top storiesSchwarzenegger wore 'McFelon' T-shirt mocking Trump? No, image is altered | Fact check
Hyderabad: FY25 promises to usher in good tidings for engineering grads set to pass out this year. India's tech industry is slated to see a 25-30% uptick in campus placements driven by surging demand for emerging technologies such as AI, Cloud Computing, and Cybersecurity. According to data provided to TOI by TeamLease Digital , after lower-than-expected campus hiring numbers of 80,000-90,000 in FY24, at least 1.12 lakh-1.2 lakh of the nearly 1.5 million engineering graduates passouts are expected to get hired on campus. "With fresh talent being increasingly recognised as a crucial driver of digital transformation initiatives across sectors and in meeting growing talent needs, the hiring landscape looks promising," said Krishna Vij, Vice-President, TeamLease Digital. Confirming that the worst is over, former Nasscom chairman BVR Mohan Reddy said things are picking up. "From now on you will see some growth but not necessarily hockey stick growth because firms are discovering GenAI applications in automating stuff and augmenting productivity of individuals," he said. However, Aseem Marwaha, founder, eLitmus, feels the figures could be much higher. "The demand, especially in the over Rs 7.5 lakh per annum range, has surged by at least 50% and could be as high as 80% due to robust demand. Even talent with average skill levels are cracking high paying jobs this year unlike last year when even good talent was struggling," he said. "Things were slow till about the first week of September . But the market recovered significantly. Many companies could not meet numbers through campus hiring and have been coming to us since November to help them identify colleges where they could still hope to get reasonable quality talent," he added. After hitting a peak placement rate of 27% in FY22, numbers plummeted to 6% in FY24 due to challenges like economic slowdown and skill mismatches, said Vij, adding: "In 2022, fresher hiring reached unprecedented levels driven by post-pandemic recovery, increasing digitisation, and demand for tech talent, leading to inflated bench sizes," she explained. In FY25, she said, fresher employability rate is set to rise to 71.5% from 64% in FY24, indicating improved skill alignment with industry needs. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , Location Guesser and Mini Crossword . Spread love this holiday season with these Christmas wishes , messages , and quotes .
