The UK government announced plans on Monday to jointly invest more than £1.1 billion ($1.5 billion) with industry partners in the maritime sector. Officials said the initiative will create new jobs and drive growth in coastal communities across the country, with a particular focus on engineering, green technology, and construction.
The funding package includes £700 million in private investment earmarked for major UK ports, alongside £448 million in public funding to cut carbon emissions from shipping. According to the government, this represents one of the largest ever commitments to strengthening the nation’s maritime infrastructure while accelerating its transition to greener operations.
The announcement, set to be formally unveiled on September 15 at the start of London International Shipping Week, underscores the UK’s ambitions to reach net-zero emissions by 2050. “We’re committing almost half a billion to cut carbon emissions from shipping – steering us towards net zero by 2050,” UK Transport Minister Heidi Alexander said.
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France’s credit rating has been cut by Fitch to A+ from AA-, its lowest on record, casting a shadow over newly appointed Prime Minister Sebastien Lecornu as he begins budget negotiations. Fitch cited political instability and rising debt for the downgrade, which comes just days after President Emmanuel Macron named Lecornu as his fifth prime minister in two years. While markets reacted calmly, analysts warned the move raises fresh risks ahead of upcoming reviews by Moody’s and S&P.
The downgrade complicates the government’s efforts to present a draft 2026 budget to parliament by early October. Lecornu faces the daunting challenge of balancing investor demands for spending cuts with pressure from unions, who have called nationwide strikes this week, and political blocs divided over tax and reform strategies. In his first interviews, Lecornu scrapped unpopular holiday cuts but left the door open to higher taxes on the wealthy, a move opposed by business groups and conservatives but supported by the Socialists as a condition for backing his government.
With France’s deficit at 5.4% of GDP, Lecornu has pledged to put public finances on a “healthy trajectory,” though he admitted the budget may not fully reflect his own convictions. Employers’ federation MEDEF has threatened mass mobilization against any wealth tax, while the far-right National Rally renewed calls for fresh elections. Analysts warn that continued political gridlock could lead to another downgrade, increasing borrowing costs and straining Macron’s already fragile government.
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The Students World Cup (SWCC) proudly celebrated its international launch on 12th July 2025 in New Delhi, bringing together distinguished guests and dignitaries from around the world.
The event was honored by Chief Guest Hon’ble Justice Dinesh Maheshwari, Chairperson of the 23rd Law Commission of India and Former Judge of the Supreme Court, and Chief Guest Prof. Luis G. Franceschi, Assistant Secretary-General of the Commonwealth of Nations. His Excellency Dr. Mohammad Ahmed Bin Fahad, Chairman, Patron & President of SWCC for GCC Countries, Africa, and Europe, graced the occasion as Guest of Honour, while Special Guest Dr. Abdulla Rafiu, Minister of Sports, Fitness and Recreation, Maldives, added further international prominence to the launch.
The ceremony brought together a stellar assembly of Padma Award, Arjuna Award, and Dhyan Chand Award recipients, Olympians, national and international sports icons, eminent legal experts, business leaders, financial experts, and representatives from leading educational institutions. Their presence highlighted the global vision of SWCC—to unite, inspire, and empower students through the transformative power of sports.
The Delhi launch not only marked a historic beginning but also set the stage for SWCC to become the world’s largest student-focused sporting platform, connecting young athletes and fostering excellence across disciplines.
Chief Guest – Justice Dinesh Maheshwari (Chairman of the Law Commission of India, Former Judge of the Supreme Court of India, Former Chief Justice of the Karnataka and Meghalaya High Courts, and Former Chief Patron of SWCC)
Hon’ble Justice Dinesh Maheshwari, in his address, spoke with warmth and pride about his association with SWCC. He shared how gratifying it has been to witness the organisation grow from a mere idea into a living reality, shaped by years of dedication and teamwork. Having been closely connected for over a year, he recalled the memorable second launch on 10th April and the bittersweet moment when he was invited to join the Law Commission of India—an honour that required him to step down from his role as Chief Patron of SWCC.
With a personal touch, he spoke about his own fond memories of playing cricket during his legal career, particularly the lawyers’ cricket matches that he thoroughly enjoyed and often excelled in. Drawing from these experiences, he reflected on the true essence of sport—its power to keep winners grounded, to help us accept defeat with dignity, and to inspire resilience in others. He cited the humility of champions like Mary Kom and the grace shown by Magnus Carlsen in defeat, as examples of the priceless values sports bring into our lives.
Justice Maheshwari emphasized that the time has come for India to view sports not just as a competition, but as a force that shapes character, builds communities, and opens new opportunities. He lauded the recently announced National Sports Policy as a bold and refreshing framework that goes beyond previous models, focusing on grassroots development, nurturing initiatives like Khelo India, and creating career pathways not only for athletes but also for countless professionals in related fields.
Commending SWCC as a model of private initiative and international cooperation, he praised the energy of the youth driving it forward. He observed that the growing involvement of private entities in sports is a welcome trend, one that can cultivate champions across disciplines and enhance India’s presence on the world stage.
Chief Guest, Prof. Luis G. Franceschi, Asst. Secretary-General of Commonwealth of Nations, Patron of SWCC for Commonwealth of Nations
Prof. Luis G. Franceschi began with warm greetings and appreciation for the efficiency of Delhi Airport. Hon Shirley Ayorkor Botchwey, Secretary-General of the Commonwealth, conveyed her greetings and acknowledged the presence of distinguished guests and luminaries. She spoke of unity, brotherhood, and the belief that no human is limited, drawing inspiration from India’s sporting spirit—citing Chak De! India, Bagh Milkha Bagh, Mary Kom, Neeraj Chopra, Gukesh, Virat Kohli, and Anju Bobby George. She highlighted the Commonwealth’s commitment to development and peace, describing sports as a language that unites cultures and nations, fosters friendship, and drives sustainable development across 56 member states. Encouraging the youth to celebrate even small wins, she affirmed that the Commonwealth is “all of us together,” not just a single nation.
Guest of Honour- His excellency Dr Mohammad Ahmed Bin Fahad, Patron of SWCC for GCC, Europe & African Nations
His Excellency Dr Mohammad Ahmed Bin Fahad delivered an energetic and engaging address, beginning with heartfelt thanks to Mr. Rajeev Kumar for the invitation and warmly greeting the dignitaries. He fondly mentioned his close associate, Mr. V.S.N. Anilkumar, referring to him as a brother. In a light-hearted moment, he remarked that all the previous speakers had already covered most points, bringing joy and laughter to the gathering.
He shared that, despite coming from a different heritage and place, he felt truly at home among the Indian community. Emphasising the role of the Students World Cup, he said it must bring ideal personalities into society, fostering peace, and serve as an umbrella for all youth, ensuring benefits for everyone and not just a few. He praised it as one of the greatest sporting ideas of the 21st century and urged that humanity remain at the heart of all such initiatives.
Recalling an inspiring example of a visually impaired individual excelling through sports and now serving in Dubai Police, he highlighted sports as a unifying and empowering force. He concluded by saying that wise leadership can steer the ship of sports globally without the constraints of money, as sports is the one arena where all human beings are truly equal.
Dr. Abdulla Rafiu, Minister of Sports Fitness, and Recreation in Maldives
Dr. Abdulla Rafiu opened with warm greetings—“Good afternoon and As-salamu Alaikum”—calling it a proud moment for the world of sports. He expressed joy in joining the event and appreciated the ambition and vision of the movement, noting it was an honour to stand alongside Padma awardees, Olympians, and eminent sportspersons. He thanked Mr. Luis and Mr. Ahmed from the GCC and expressed confidence that this initiative will create a meaningful impact beyond borders.
Highlighting sports as a powerful medium of unity, peace, and nation-building, he shared Maldives’ commitment to transforming school sports through the newly refined Sports Bill and the President’s “Maldives Fitness Test” program for school children. He described today as a historic moment, with a powerful movement emerging from India, and expressed belief that the Students World Cup will help make India a global capital of sports. He concluded by thanking Rajeev Kumar for including him in this assembly and assured is full personal and official support.
Aruneshwar Gupta, President of SWCC
Aruneshwar Gupta, President of SWCC, began his welcome address with a warm greeting to all dignitaries. He spoke about the legal and corporate structure of sports governance, highlighting the importance of accountability, commitment, and long-term vision among those managing sports in India. He pointed out that although there are 150 recognized sports federations in the country, not a single international sports federation is registered here. While the global sports industry is valued at around 2 trillion dollars, India’s share is only about 20 billion dollars. He reflected on the history of sports law in Rajasthan and Himachal Pradesh and noted how the IPL came into existence, clarifying that the IPL is not a league but a tournament—not a grassroots initiative. He emphasized that the current progress is not merely due to government efforts but the result of restructuring the sports ecosystem. He added that development in Indian sports has not been driven by the Indian Olympic Association or federations, but by the sacrifices of families, community support, and the relentless work of grassroots coaches. He mentioned that although the Olympics generate 7.7 billion dollars in revenue, not even a single dollar reaches the athletes directly. This vision, he said, was first discussed with Rajeev more than a decade ago, and he has been part of nurturing that idea ever since. He stated that sports should be a way of life for every student, and that the Students World Cup aims to create a platform where students from all districts, states, and schools can connect and celebrate together. He emphasized that the Students World Cup must achieve what the IPL could not—build a true sporting culture and that the focus is on building a strong talent identification system starting at the grassroots by tracking every student. Concluding his remarks, he described the Students World Cup as a Made in India initiative, a generational dream, and a global platform for youth.
Dr Syamraj S, Vice President of SWCC State association executive committee (Kerala) & Director of SWCG India Ltd
Started with a warm Greetings to all luminaries. Dr. Syamraj. S was very like-minded personality. and his efforts made the His Excellency Mohammad Ahmad Bin Fahad to join with SWCC and Students World Cup. Dr. Syam just had a Brief about his Excellency and his career. And also, mainly focused to talk about one thing that is in addition to his environmental leadership, His Excellency Dr. Mohamed Ahmed Bin Fahad served as the President of Al Wasl Football Club, a premier and uniquely prominent football club based in the United Arab Emirates. Under his presidency, the club made global headlines when he appointed his close friend and football legend Diego Maradona as head coach in 2011. This move not only elevated the club’s international profile but also brought a new era of energy, vision, and passion to UAE football game during the 2011–2012 seasons, Al Wasl Football Club remains one of the most iconic sporting institutions in the country.
Santhanakrishnan Hon. Life President of CLA and Vice President of SWCC
Santhanakrishnan extended heartfelt thanks to all the dignitaries, invitees, and guests whose presence made the occasion so special. He reserved special gratitude for Mr. Rajeev Kumar Cheruvara, whose vision and tireless efforts brought this launch to life. He also acknowledged Prof. Luis G. Franceschi for sharing the platform and offering valuable insights on behalf of the Commonwealth, and Mr. Saju Kadavilan for his steady and continued support.
He expressed deep appreciation for the distinguished speakers who addressed the gathering—Special Guest Dr. Abdulla Rafiu, Minister of Sports, Fitness and Recreation, Maldives; Guest of Honour His Excellency Dr. Mohammad Ahmed Bin Fahad; and Chief Guests Prof. Luis G. Franceschi and Justice Dinesh Maheshwari—each of whom enriched the event with their inspiring messages.
Finally, he highlighted the tremendous work that went on behind the scenes. With warm gratitude, he named Mr. Saju, Mr. Sajith Cheruvara, and Mr. C. Ramachandran, who worked alongside Mr. Rajeev Kumar in coordinating the event, handling the magazine, and managing all the key arrangements. Their collective efforts, he noted, played a major role in the success of the day.
Dr Ashok G Verghese, Member of NSWCF
Ashok began by stating, “I think Rajeev has brought the entire judiciary here,” and warmly greeted all the luminaries and sportspersons present. He reflected on India’s long journey and expressed that today was indeed a great day. Introducing himself and his institution, founded by his father in the 1960s, he proudly shared that despite a recent aviation calamity, three of the panel members present were graduates of his institution—highlighting the power of education in nation-building. He emphasized that India is a developing country and will soon become a developed one, and that he believes in “all men’s success, no man’s failure.” Remembering his sports days, he recalled winning first place in a throwing event and receiving a soapbox as a gift—contrasting it with today’s remarkable ₹15 crore prize money, showing how far the nation has come. He expressed his joy at Rajeev’s efforts in bringing together such a large gathering, stating that his own son must participate in these tournaments. He stressed that money should not be the sole driver; effort is the key. While funding from the industry is essential to strengthen sports, in the AI-driven world of today, it is still human effort on the ground that makes the real difference.
Fr Josh Kanjooparambil, Vice President of NSWCF
Fr. Josh introduced himself and his organisation, expressing his pride in addressing the gathering. He shared that SWCC is a visionary initiative shaping the global sports landscape. It is not just an event, but a platform that encourages perseverance, passion, and excellence, built on the values of human dignity, fraternity, and global unity. He highlighted the power of sports to unite, inspire, and lead, and spoke about the event’s scale—engaging 20,000 schools worldwide with a prize pool of ₹15 crores. He noted its positive role in guiding youth away from harmful habits and ensuring equal opportunities for all, regardless of nationality, to be recognised and celebrated. He added that true champions are built not only on the field but also through character, commitment, and courage. He concluded by congratulating all the visionaries behind SWCC.
Manoj Kumar, Director SWCG India Ltd, Vice President of NSWCF, President of SWCC State association executive committee (Delhi)
Manoj Kumar thanked everyone for joining and emphasised the importance of compliance in a country like India. He reflected on how sports is often seen as something that comes with risks, yet we have built an educated world that sometimes overlooks the importance of play. Citing the recent creation of the “Ministry of Loneliness” in the UK, he highlighted the need to address similar social challenges. He noted that although most schools have playgrounds, students often do not use them—a reality SWCC aims to change through its first campaign, Bring Back Our Playground, encouraging schools and parents to join hands.
He further explained the second campaign, The Great Indian Playground, which will serve as the nation’s first sports talent bank, nurturing India’s sporting potential. He stressed that the focus should be on ensuring that financial support reaches sportspersons directly, enabling them to grow and succeed.
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Sometimes, the brightest ideas are born in the toughest times. Ten years ago, when Rajeev Kumar Cheruvara’s real estate business was hit hard by the recession, he could have simply stepped away. Instead, he chose a different path—one that would transform his own journey and open new doors for millions of young athletes around the world. That moment of resilience gave birth to the Students World Cup (SWCC), now set to become one of the most ambitious youth sporting movements in history.
When an Idea Took Center Stage
Rajeev looks back on his beginnings with gratitude and humility. It was his friend Saju’s simple advice—“You initiate… things will follow”—that gave him the courage to take the first step. At his very first official meeting, Justice Dinesh Maheshwari asked everyone in the room to rise—not in honor of Rajeev himself, but in recognition of the powerful idea he had brought forward. “That moment wasn’t about me,” Rajeev recalls. “It was about what we could build together.”
Today, that seed of an idea has grown into something extraordinary. Backed by more than 100 legendary athletes and global patrons, the Students World Cup (SWCC) now carries a valuation of ₹16,000 crore for its first three editions—a testament to a vision that has the strength to match its dreams.
Power of Purpose
The SWCC is not just another tournament. It is a movement dedicated exclusively to school students, aiming to make sports an inseparable part of education. Beginning with Under-17 categories and expanding to Under-15, it spans 36 sporting disciplines, from athletics to swimming. The structure is rigorous—state-level knockouts leading to nationals, and finally, the grand World Cup finals. With prize pools running into crores of rupees, mentorship from legends, and even residential training for exceptional talent, SWCC is designed to create not just winners but a generation of healthier, stronger, and sharper youth.
Rajeev Kumar Cheruvara; CEO, SWCG India Ltd & Secretary, SWCC
Leveling the Playing Field
Cricket may be India’s heartbeat, but Rajeev’s dream goes beyond just one game. “Cricket already has a strong platform,” he explains. “It’s the champions in other sports who truly need recognition and support.” That’s why cricket has been intentionally left out of the Students World Cup (SWCC—so the spotlight can shine on athletes from lesser-known disciplines, giving unsung talent the stage it deserves.
A New Home for Sports Excellence
Kochi is all set to become the heartbeat of a sporting revolution. In collaboration with the Ajinorah Group of Companies, the Students World Cup (SWCC) is developing its very first Sports City—a state-of-the-art hub spread across 25 acres near Cochin International Airport.
The campus will feature an international-standard residential sports school, a massive 1 lakh sq. ft. indoor stadium, dedicated arenas for volleyball, basketball, kabaddi, hockey, athletics, football, and a world-class swimming pool. Designed to host global-scale events, it will also include parking for 5,000 vehicles, guest cottages, and service apartments.
This is just the beginning—Sports Cities are also planned for Karnataka, Tamil Nadu, the UAE, and even the Maldives, where the government has offered 108 acres on an atoll. By 2030, when India welcomes the Commonwealth Games, these Sports Cities will stand as the backbone of a new sporting ecosystem.
The Man Behind the Movement
While Rajeev is quick to credit his team, his own journey is no less compelling. An alumnus of IIM Kashipur, he specialises in consumer behaviour, blending data-driven insights with creativity. His book, Marketing Push Customers to Pull the Brand, redefined how marketers approach consumer engagement. His Guinness World Record for building the world’s largest Christmas star is proof of his flair for bold, unconventional ideas. Recognised by the Times of India for his innovative marketing strategies, Rajeev continues to bring the same energy to SWCC—transforming it from an idea into an international movement.
Toward 2036: A Sporting Dream in Motion
The path ahead is mapped with precision. With the first three Students World Cups set for 2026, 2028, and 2030, Rajeev and his team are laying the foundation for something far bigger—the 2036 Olympics, where India’s youth will step onto the world stage not as underdogs, but as true contenders.
“Our motto is simple,” Rajeev says. “To make India the sports capital of the world.”
Backed by global patrons, increasing government interest, and the enthusiasm of thousands of schools eager to participate, this once-distant dream is now beginning to look like an achievable reality.
More Than a Dream, A Movement
For Rajeev Kumar Cheruvara, this isn’t just about chasing a personal vision—it’s about building an ecosystem of purpose. A place where education and sport go hand in hand, where talent meets opportunity, and where young people from across the globe come together beyond borders.
What began as a flicker of hope during his hardest times has grown into a flame bright enough to ignite an entire generation. His journey reminds us of a timeless truth: the most powerful revolutions often start with a single person who dares to believe.
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Spain’s lower house of parliament has rejected a bill to reduce the standard work week from 40 hours to 37.5, handing another setback to the Socialist-led minority government of Prime Minister Pedro Sanchez. The proposal, championed by Labour Minister Yolanda Díaz and major trade unions, was blocked late Wednesday when opposition lawmakers joined forces with Catalan separatist party Junts to prevent it from reaching the floor for debate.
Junts, despite occasionally backing the central government, sided with the conservative People’s Party and far-right Vox, producing a 178–170 majority against the measure. Opponents argued the reform would burden small businesses and farmers, raising costs and risking job losses. Díaz condemned Junts’ stance as “incomprehensible” and vowed to reintroduce the legislation.
The defeat adds to a string of setbacks for Sanchez, who has struggled to advance reforms and secure parliamentary backing amid corruption scandals and waning voter support. His government, already under pressure for failing to pass a long-overdue budget, faces mounting challenges as Vox gains popularity and relations with Catalan parties remain strained despite a contentious amnesty deal for separatists.
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Swiss lawmakers are seeking to dilute government proposals aimed at preventing financial crime, arguing that stricter rules could erode the country’s competitiveness in global cross-border wealth management. Switzerland, long the world’s largest wealth hub, faces mounting competition from rival centres such as Singapore and the UAE, while a Boston Consulting Group forecast warns Hong Kong could overtake Switzerland as the leading booking centre for cross-border wealth as early as 2025.
The government’s anti-money laundering legislation was designed to meet Financial Action Task Force (FATF) requirements, including curbs on shell companies and greater due diligence for advisers. But parliament has watered down key measures, exempting charities, trust arrangements, and some lawyers from transparency registers and due diligence rules. Finance Minister Karin Keller-Sutter warned that the amendments significantly reduced the scope of safeguards, while critics said the changes risk undermining Switzerland’s commitments to fight financial crime.
Supporters of the rollback, including lawmakers from the right-wing Swiss People’s Party, centre-right Liberals, and The Centre, argue the measures are excessive and burdensome, pointing out that Switzerland already enforces more detailed compliance rules than other financial hubs. However, Anton Broennimann, head of the country’s financial crime unit, cautioned that Switzerland must not allow competitive pressures to make it attractive to criminals, stressing that an effective system was vital to safeguard the country’s reputation as an international financial centre.
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Poland confirmed on Wednesday that it shot down drones that entered its airspace, marking the first time a NATO member has fired during Russia’s war in Ukraine. Polish Prime Minister Donald Tusk described the incident as a “large-scale provocation” and warned that it brings Europe closer to open conflict than at any point since World War Two. The move, he said, alters the political situation and underscores the need to prepare for multiple scenarios.
The escalation drew swift international reactions. European Union foreign policy chief Kaja Kallas said Russia’s war is “escalating, not ending,” urging stronger defence investments and support for Ukraine. French President Emmanuel Macron condemned the drone incursion as “unacceptable,” pledging full solidarity with Poland and consultations with NATO leadership. British Prime Minister Keir Starmer called the violation of Polish and NATO airspace an “egregious and unprecedented” act that highlighted Moscow’s disregard for peace.
Ukrainian President Volodymyr Zelenskiy stressed the significance of European nations acting jointly to shoot down Russian weapons, saying only coordinated action can ensure security. Meanwhile, NATO’s Supreme Allied Commander Europe, General Alexus Grynkewich, confirmed the alliance responded “quickly and decisively,” reaffirming NATO’s resolve to defend allied territory. Russia, however, denied responsibility, with its envoy in Warsaw dismissing the accusations as “groundless.”
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The Financial Conduct Authority (FCA) has proposed allowing card providers in Britain to set their own contactless payment limits, potentially raising the current £100 ($135.35) cap. The regulator said the move aims to make payments more convenient for consumers while supporting digital solutions and economic growth.
The consultation, open until October 15, is part of 50 measures the FCA outlined to the prime minister earlier this year. While the regulator does not expect immediate changes, the flexibility would give firms more freedom to tailor limits to customer needs. Many providers already let users adjust their personal limits or disable contactless features entirely.
David Geale, the FCA’s executive director of payments and digital finance, stressed that fraud protection remains in place. “Even with contactless, firms will refund your money if your card is used fraudulently,” he said, adding that stronger controls mean consumers can benefit from greater convenience without compromising safety.
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Homeland ministers from the Five Eyes alliance – the U.S., Britain, Canada, Australia, and New Zealand – are set to announce new measures this week to strengthen border security and dismantle criminal smuggling networks. The meeting will be held in London on Monday and Tuesday, with Britain’s newly appointed Interior Minister Shabana Mahmood confirming that the talks will focus on “hitting people smugglers hard.”
Alongside people smuggling, the discussions will also cover joint efforts to combat online child sexual abuse and curb the spread of deadly synthetic opioids. U.S. Homeland Security Secretary Kristi Noem, Canada’s Gary Anandasangaree, Australia’s Home Affairs Minister Tony Burke, and New Zealand’s Judith Collins will join Mahmood at the high-level talks.
The issue of migration has become a major political flashpoint worldwide. In the U.S., President Donald Trump has made both legal and illegal immigration a central priority of his second White House term, while in Britain, the government faces intense pressure to address record asylum claims and the rising number of small boat crossings across the English Channel.
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ExxonMobil is exploring the sale of its chemical plants in the UK and Belgium, as Europe’s chemicals industry struggles with the impact of U.S. tariffs and growing competition from low-cost Chinese imports, the Financial Times reported. The potential deal, which could raise up to $1 billion, remains at an early stage, with Exxon holding discussions with advisers in recent weeks, according to people familiar with the matter.
The U.S. energy giant operates an ethylene plant in Fife, Scotland, along with several production facilities in Belgium, and has reportedly also considered shutting them down. The European sector continues to face pressure from disrupted trade flows, delayed orders, and a lingering fallout from the 2022 energy crisis. Exxon, however, told the FT it does not comment on “rumours or speculation.”
Other global players are also scaling back in Europe. LyondellBasell (LYB.N) has sold some of its olefin and polyolefin assets earlier this year, while Sabic is shrinking its regional footprint. In May, Exxon entered exclusive talks to divest its majority-owned French unit Esso (ESSF.PA). Industry analysts note that any potential deal could take time, with no certainty a sale will go through.
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