Our weekly newsletter gives a brief overview of the latest developments in geopolitics, security and defense, energy, manufacturing, and supply lines. Striving to provide our clients with enhanced decision-making capability, it includes in-depth articles as well as insights pertaining to growth projections, conflicts, and raw materials, etcetera.
- The Israel-Hezbollah ceasefire is weakening, with exchanges of fire and violation accusations less than a week in. On December 2, US President-elect Donald Trump demanded the release of Israeli hostages in Gaza.
- EU's foreign policy chief Kaja Kallas does not rule out the EU deploying peacekeeping forces in Ukraine in the case of a ceasefire and German Chancellor Olaf Scholz pledged over €650 million in military aid on Monday, December 2.
- Georgian Prime Minister Irakli Kobakhidze paused EU accession efforts on November 28, with talks set to resume in late 2028, as tens of thousands protested for the fifth night in a row in Tbilisi on December 2.
- Russian President Vladimir Putin approved a record $126 billion defense budget for 2025 accounting for 32.5% of government spending, with a $28 billion increase from 2024 and reduction forecast for 2026 and 2027.
- Iranian-backed Iraqi militias entered Syria on December 3 to support Damascus as the war escalated with Islamist militia Hayat Tahrir al-Sham capturing most of Aleppo and advancing toward Hama by November 29.
- Ukraine's foreign ministry stated on December 3 that NATO membership is the "only real guarantee of security," hoping for an invitation to join the alliance this week as NATO foreign ministers meet in Brussels.
- Norwegian oil company DNO ASA discovered 25-57 million barrels of oil equivalents at the Othello prospect in the southern North Sea on December 2 and assess expanding facilities at the site.
- Japan's Fusion by Advanced Superconducting Tokamak (FAST) project aims to achieve fusion power by the 2030s and address engineering challenges for clean, abundant energy.
- QatarEnergy has started construction on a $1.2bn blue ammonia plant, set to begin production in 2026. This project is part of Qatar's goal to achieve over 11 million tons of carbon capture capacity by 2035.
- The EU plans to penalize carbon-intensive steel from 2026 amid concerns over the availability of raw materials like high-grade iron ore, scrap, and green hydrogen that could hinder the decarbonization of steelmaking.
- Washington will restrict shipments of semiconductor manufacturing equipment, advanced memory chips, and software tools to China on December 31.
- Europe’s November manufacturing purchasing managers' indexes (PMIs) declined to a two-month low of 45.1, while emerging Asia, including China, South Korea, Taiwan, and ASEAN, saw slight improvement.
- President Joe Biden emphasized US support for the 800-mile Lobito Corridor rail project supported by Europe during his visit to Cape Verde and Angola on December 2.
- Nepali Prime Minister KP Sharma Oli discussed reviving several stalled Belt and Road Initiative projects in Nepal in his first diplomatic visit to China on Monday, December 2.
- Indonesia and Canada signed a Comprehensive Economic Partnership Agreement on Monday, December 2, to reduce trade barriers, improve access to Southeast Asian supply chains, and enhance transparency.
- The ruling Social Democrat Party lead Romania's December 1 parliamentary elections. Far-right populist Calin Georgescu faces reformist Elena Lasconi in Sunday, December 8’s presidential election runoff.
- Kenyan President William Ruto said on November 30 that he and Ugandan President Yoweri Museveni plan to mediate the Somalia-Ethiopia dispute over Somaliland's independence in exchange for a naval base.
- A data cable across the Sweden-Finland border was damaged in two locations on December 3. Authorities and the affected Global Connect are investigating the incident.?
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