Transport Infrastructure

Iraq selects 11 companies for Grand Faw Port operation; decision to be made in January 2025

Iraq has selected 11 shipping companies that will compete for the Grand Faw Port Operation Contract. A decision is expected to be made in January 2025. The shortlisted companies include China Merchants Port Group Co., Taiwanese container shipping line Evergreen, French shipping group CMA CGM, Mediterranean Shipping Company (MSC), India's Adani, Philippines-headquartered International Container Terminal Services (ICTSI), China's Cosco, and United Arab Emirates-based ABM Global Shipping LLC. Farhan al Farousi, Iraq's Minister of Energy, announced that the country will select a company to operate in Iraq in 2026. Daewoo Engineering & Construction of South Korea completed construction of five docks....



Transport Infrastructure

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Embraer sees Chinese function in enhancing supply chain, executive says

Brazilian planemaker Embraer stated on Wednesday at China's biggest air show in Zhuhai that it prepared to concentrate on enhancing its supply chain, with Chinese business able to play a role. Embraer is the world's third-largest planemaker and focuses on as much as 150-seat single-aisle regional and executive airplane, sitting simply listed below Plane' and Boeing's. very popular A320 and 737 families and rivalling the Plane. A220. At Zhuhai, Embraer's primary commercial officer, Martyn. Holmes, noted that China's President Xi Jinping would soon visit. Brazil. The G20 top will be held there this month. I believe it's an exciting minute...

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China showcases its latest military hardware, and ambitions, at Zhuhai

The Chinese military hardware on display at the country's biggest air program in Zhuhai highlights its ambitions, and in some cases might reveal developments in ability, professionals state. Amongst the systems showcased were the latest variant of China's J-35A stealth fighter, its bigger J-20 stealth fighter, a stealthy drone designated the CH-7 and the HQ-19 air defence system. There was likewise an electronic warfare variation of the J-15 naval fighter, in addition to dozens of different munitions. China is not seeking to display its power at the air program, however, the state-controlled International Times said in an editorial. Rather, it...

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Vietnam Airlines to demand bids for 50 narrowbody jets next year

Vietnam Airlines will issue ask for propositions to aircraft manufacturers next year to acquire 50 narrowbody jets, its CEO said on Wednesday. The provider in 2015 signed a provisional handle Boeing for 50 737 MAX aircrafts that has yet to be settled. In Vietnam we have to go through the bidding procedure, we have to open to others ... The door is still open for everyone, Vietnam Airlines CEO Le Hong Ha told Reuters on the sidelines of an Association of Asia-Pacific Airlines occasion in Brunei. Boeing. is one alternative, they have a very good offer for us. Airbus and...

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Wall Street Journal - Nov 13

The following are the top stories in the Wall Street Journal. Reuters has not confirmed these stories and does not guarantee their accuracy. - Spirit Airlines is preparing to declare personal bankruptcy security after merger talks with Frontier Airlines broke down. - Volkswagen Group raised its investment in electrical lorry start-up Rivian by 16% to $5.8 billion, as the companies kick off their planned joint venture to develop EV architecture and software. - Elanco Animal Health agreed to pay a $15 million civil fine to settle U.S. Securities and Exchange Commission anti-fraud charges for misleading investors about its revenue development...

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Vietnam Airlines to demand quotes for 50 narrowbody jets next year

Vietnam Airlines will release a request for proposition to airplane manufacturers next year to purchase 50 narrowbody jets, its CEO said on Wednesday. The carrier in 2015 signed a provisional handle Boeing for 50 737 MAX aircrafts that has yet to be settled. In Vietnam we need to go through the bidding procedure, we have to open to others ... the door is still open for everyone, Vietnam Airlines CEO Le Hong Ha told Reuters on the sidelines of an Association of Asia-Pacific Airlines event in Brunei. Boeing. is one option, they have an excellent deal for us. Jet and...

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Flights cancelled to and from Indonesia's Bali due to ashes

Numerous international airline companies cancelled flights to and from Indonesia's. resort island of Bali on Wednesday, after more eruptions of a. volcano that has spewed ash clouds as high as 10 km (32,808 feet). and forced thousands to leave. Jetstar and Qantas said they had stopped flights to. Bali on Wednesday for safety factors because of volcanic ash,. while plane tracking website Flightradar24 revealed flights to the. island by AirAsia and Virgin were likewise cancelled. Bali is Indonesia's top traveler hotspot and is a popular. location for Australian visitors. The first eruption of the Mount Lewotobi Laki-laki on Nov. 3....

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Spirit Airlines prepares to declare insolvency, WSJ reports

Spirit Airlines is preparing to file for personal bankruptcy security after merger talks with Frontier Airlines broke down, the Wall Street Journal reported, pointing out people knowledgeable about the matter. The ultra-low cost carrier remains in innovative conversations with shareholders to hammer out a bankruptcy plan that would have assistance from a majority of creditors, the report stated. Spirit is preparing a bankruptcy filing within weeks, the report added. The company did not right away respond to a Reuters ask for comment. The provider has been losing money regardless of strong travel demand. It has actually stopped working to report...

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FAA bars US airlines from Haiti after shooting hits planes

The Federal Aviation Administration stated on Tuesday it will disallow U.S. airlines from running in Haiti for thirty days after 2 industrial jetliners were struck by shooting on Monday. The FAA issued a Notice to Air Objective restricting U.S. airline companies from operating flights in the Haiti's territory and airspace listed below 10,000 feet (3,048 meters) for one month, citing safety-of-flight dangers associated with continuous security instability. On Monday, a Spirit Airlines flight destined for the Haitian capital was struck by gunfire, requiring it to be diverted to the neighboring Dominican Republic, while a JetBlue Airways flight returning from Port-au-Prince...

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11 hurt by turbulence throughout Lufthansa flight to Frankfurt

Eleven individuals were hurt when a Lufthansa flight from Buenos Aires to Frankfurt hit extreme turbulence while travelling over the Atlantic, the airline said on Tuesday. Regrettably, five passengers and six crew members suffered mainly minor injuries, a Lufthansa representative told Reuters in an e-mail, verifying a report by the DPA news agency. The safety of the flight was not in jeopardy at any time, the representative included. The injured gotten medical treatment instantly after the aircraft landed securely at its planned destination on Tuesday at 10:53 am (0953 GMT), according to the airline company. The Boeing 747-8 had been...

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Bond hedge fund Arini up 23.4% betting against European satellites and autos, says letter

Former Credit Suisse bond trader Hamza Lemssouguer's main $3.7 billion fund at Arini jumped 23.4% through the end of October, gaining from bets against European makers dealing with U.S. and China headwinds, said a source and a financier letter. The year-to-date gains beat recent industry averages for hedge funds trading business financial obligation, which have returned 9% over the same period, and distressed gamers, which are up an average of 11.5%, according to hedge fund research company PivotalPath. The Arini Credit Master Fund made short bets fixated how electrical vehicles and satellite companies in Europe will likely be squeezed between...

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Avia orders 40 Boeing 737 MAX jets

Avia Solutions Group, which leases aircraft and offers related services, has actually ordered 40 Boeing 737 MAX 8 jets, with a choice to purchase 40 extra jets, the companies said in a joint declaration on Tuesday. The 40 jets will be valued at about $2.17 billion, according to Reuters computations based upon approximated shipment prices from Cirium Ascend. Avia Solutions which has 11 air operator certificates anticipates shipment of 737 MAX jets to start in 2030. Production delays by airplane producers have boosted providers' need for rented airplanes to meet a spike in travel need. The need to service older...

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Lufthansa nears offer to buy Italy's ITA

Lufthansa Group submitted a plan of solutions to the European Commission required to protect antitrust EU approval to take a minority stake in ITA Airways, the German airline stated on Tuesday, bringing it an action more detailed to closing the deal after a disagreement with Italy's. Treasury last week put it on hold. Lufthansa Group is positive that the EU Commission. will approve the plan of concessions in the coming weeks,. stated a Lufthansa spokesperson. Lufthansa in July won EU antitrust approval to purchase 41%. of state-owned ITA, the successor airline to bankrupt Alitalia,. for 325 million euros ($ 354...

Ground Transportation

Ground Transportation

Bus falls under Indus river in Pakistan, eliminating 14

A bus bring 27 travelers fell into the Indus river in northern Pakistan on Tuesday, killing 14 individuals, according to a statement from the Gilgit Baltistan authorities. Twelve of the remaining travelers are missing out on, and one traveler has endured the accident with injuries, the statement from the authorities said. The accident happened due to speeding, and the driver losing control of the automobile, according to the authorities. According to local broadcaster Geo, the bus belonged to a. wedding procession headed toward Pakistan's Chakwal district. when it fell under the river from Telchi bridge at the limits of. Diamer...

Ground Transportation

Hertz posts wider-than-expected loss due to high devaluation costs

Rental automobile company Hertz Global reported a widerthanexpected thirdquarter loss and missed income estimates on Tuesday, harmed by high depreciation charges from its fleet automobiles, sending its shares down more than 4%. The business tape-recorded a $1 billion property impairment charge throughout the quarter, citing a decrease in fleet worths over the in 2015 following a general decline in automobile costs as consumers delay large purchases in an unsure economy. Previously this year, the company stated it would slim down its car inventory, with a sale of about 30,000 electrical automobiles consisting of Tesla vehicles, mentioning greater repair costs associated...

Ground Transportation

Canada transfers to end conflicts at ports of Vancouver and Montreal

Canadian Labour Minister Steven MacKinnon said on Tuesday he had actually directed the nation's. labor relations board to order an end to disagreements at the ports. of Vancouver and Montreal, pointing out the economic damage caused. The relocation marked the 2nd time in a couple of months that the. Liberal government has actually actioned in to end a disagreement. In August it. ordered an end to work interruptions at the nation's 2 biggest. railway business. The Montreal Longshoremen's Union rejected a last offer. made for a brand-new labor contract, resulting in a lockout being. stated. Exports of canola oil and...

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