Australia, UK Team Up to Back Clean Energy Technologies

British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS
British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS
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Australia, UK Team Up to Back Clean Energy Technologies

British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS
British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS

Australia and Britain plan to work together to ramp up the deployment of renewable energy technologies, such as green hydrogen and offshore wind, to support decarbonization, the two countries' leaders said on Friday.
The transition to net zero would open up economic opportunities creating new jobs and bolster the industrial base of both countries, Australian Prime Minister Anthony Albanese and UK Prime Minister Keir Starmer said in a joint statement.
According to Reuters, their statement did not mention how much funding they would commit to clean energy.
"This partnership will ... build on our long-standing cooperation on international climate action and shared commitment to reach net zero emissions by 2050," Albanese said after meeting Starmer on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) in Apia, Samoa.
Both leaders announced grant recipients for their renewable hydrogen innovation partnership, which will support six projects focused on industrial decarbonization.
The prime ministers also said the AUKUS defense pact between Australia, the United States and Britain would boost security in the Indo-Pacific.
The AUKUS defense pact signed in 2021 will see Australia buy up to five nuclear-powered submarines from Washington in the early 2030s before jointly building and operating a new class, SSN-AUKUS, with Britain, roughly a decade later.
Albanese and Starmer reaffirmed their commitment to negotiate a bilateral treaty to develop the SSN-AUKUS submarine.
"Together, we're delivering better futures for our two countries, whether that's through protecting our national security with projects like AUKUS or delivering on our net zero commitments," Starmer said.
The Commonwealth meeting began this week with King Charles, the head of the grouping of 56 countries most with roots in Britain's empire, attending.
Climate change threats are a central topic of the talks, as more than half of the Commonwealth's members are small nations, many of them low-lying islands at risk from rising sea levels caused by climate change.



Gold Price Surge Helps Swiss National Bank Make $33 Billion Profit

(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
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Gold Price Surge Helps Swiss National Bank Make $33 Billion Profit

(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)

The Swiss National Bank made a profit of around 26 billion Swiss francs ($32.52 billion) in 2025, the central bank said on Friday, thanks to big increases in gold prices as investors headed for safe-havens assets last year.

The provisional figures were a decline from the record 80.7 billion franc profit the SNB made in 2024, ‌but were ‌still in the top ‌five ⁠profits the ‌central bank has made in its 119-year history

The SNB's 2025 profit was boosted by a 36.3 billion franc valuation gain in its gold holdings, as investors bought the precious metal to protect them from the ⁠global economic turmoil unleashed by US President Donald Trump's ‌tariffs.

The figure was the ‍biggest ever profit ‍the SNB has made from gold, helped ‍by the precious metal gaining 64% in value in 2025, boosting the value of the 1,040 metric tons of gold it holds.

The central bank's profits, however, were held back by a 9 billion franc ⁠loss on its foreign currency positions.

The overall annual profit figure was in line with the 23.5 billion francs to 28.5 billion francs forecast by UBS.

As a result, the SNB will be able to make a payout of 4 billion francs to the Swiss central government and cantonal governments, and a dividend of 15 ‌francs per share to investors.


New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia
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New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

Aramco Digital, the technology subsidiary of Saudi Aramco, is set to launch the Kingdom’s national industrial communications network operating in the 450 MHz band. Designed to deliver secure, highly reliable industrial connectivity across Saudi Arabia, the network will support sectors that require continuous operations and dependable communications for critical assets and facilities.

As part of the launch, Aramco Digital will introduce a comprehensive portfolio of 450 MHz-based industrial digital solutions, including tailored connectivity packages for various sectors and a new generation of smart radios developed specifically for demanding industrial environments, SPA reported.

These smart radios combine rugged, industrial-grade design with advanced capabilities such as AI, enhanced sensing technologies, extended battery life through improved energy efficiency, and real-time data processing at the device level. Together, these features will support operational accuracy, reliability, and continuity in complex operating conditions.

The network will enable a broad range of Industrial Internet of Things (IIoT) applications, including asset condition and performance monitoring, fleet and equipment tracking, air quality and environmental sensing, smart video surveillance, smart metering, lighting and infrastructure control, and industrial mobility and fleet management solutions. These capabilities will enhance operational transparency, support automation, and improve efficiency across both industrial and service sectors.

The network is intended to underpin the Kingdom’s next phase of industrial development and support the objectives of Saudi Vision 2030. By providing a highly reliable national communications infrastructure, the network will enable advanced automation, intelligent systems, and digital services in vital sectors.


Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
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Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev

Oil prices rose on Thursday after two days of declines as investors assessed Venezuela developments and reports on progress of proposed US sanctions legislation against countries doing business with Russia.

Brent crude futures were up 59 cents, or 0.98%, at $60.55 a barrel by 1038 GMT. US ‌West Texas Intermediate ‌crude gained 58 cents, or 1%, ‌to $56.57.

Higher ⁠prices ​are ‌led by the US President allowing the Russia sanctions bill to advance, as it raises fears of further disruption to Russian oil exports, said PVM analyst Tamas Varga. Republican Senator Lindsey Graham said on Wednesday that Trump had given the green light on the legislation, adding that the bill could be put ⁠to a vote as early as next week.

Both benchmarks fell more than ‌1% for a second day on Wednesday, ‍with market participants expecting ‍abundant global supply this year. Analysts at Morgan Stanley forecast ‍a surplus of as much as 3 million barrels per day in the first half of 2026. US gasoline and distillate stocks increased by more than analyst expectations in the week ended January ​2, while crude stocks fell, the Energy Information Administration said on Wednesday. On Tuesday, Washington announced a deal with ⁠Caracas to gain access to up to $2 billion of Venezuelan crude. The deal initially could require the rerouting of cargoes that were bound for China, sources told Reuters. Chinese independent refiners that consume much of the country's Venezuelan imports could switch to Iranian oil to make up the shortfall. The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia's flag, as part of President Donald Trump's aggressive push to dictate oil flows in the Americas and force ‌Venezuela's socialist government to become an ally.