Asia

Indonesia has raised the alert level for Mount Lewotobi Laki Laki after it erupted 8 times in the past weekend, according to its volcanology agency. Lewotobi-Laki-laki volcano, which is located in Flores Island in eastern Indonesia, released volcanic ash up to 5.5km high. Muhammad Wafid the head of the agency said this in a late Sunday statement. He said: "Our analysis revealed that Mount Lewotobi Laki Laki's activities are still high, so we have raised the status starting Sunday at 08:00 pm (1200 GMT)." The agency shared images of clouds of dense grey ash rising from the crater. Wafid said...

Michael O'Leary, the chief executive of Ryanair, called on Ukraine's post-war airports on Monday to offer "aggressive discount" on airport charges. He said he would otherwise have to cut back on ambitious plans for growth in the country. O'Leary, echoing previous comments, said that Ryanair would be able to fly up to 5 million passengers in the first full year after a peace agreement, and as many as 10 million in the following two years. Ryanair could reduce the amount to just 1 million dollars in the first year, and then 3 million the following year, if it does not...

The National Revenue Administration of Poland announced on Monday that it had seized five metric tons (five metric tonnes) of tyres intended for civil Boeing aircraft due to transit Belarus and Russia. Since the full-scale Russian invasion of Ukraine in February 2022, Western countries have imposed a wide range of sanctions against Russia and Belarus. Western planemakers including Airbus, Boeing and others have stopped supplying services and spares and reduced regular maintenance for aircraft. The National Revenue Administration reported that "Officers... discovered, during an inspection of a vehicle in Koroszczyn, that the driver had been transporting tyres from Boeing civil...

Qatar Airways, a state-owned company, announced on Monday that it had posted a record annual net profit for 2024, ending March 31. This was up by 28% compared to the previous year. The company also expects a strong demand in the future. The demand from the Gulf has defied global slowdown. Regional airlines report steady bookings, even though trade tensions, currency fluctuations and recession fears are weighing on key Western markets. Badr Mohammed Al-Meer, CEO of the company, said that the company has established strategic partnerships with other companies in the industry, enabling it to remain "agile" despite the ever-changing...

According to an airline statement released on Monday, Qatar Airways reported a 28% increase in its annual net profit. It now stands at a record 7,8 billion Qatari Riyals ($2.1 billion). In a press release from the airline, CEO Badr Mohammed Al-Meer said: "We have successfully implemented strategic partnership throughout the industry in order to allow the Group remain agile when faced with ever-changing world events - whether they are political, economic, or environmental." Data on the airline's passenger and revenue numbers for last year was not available. On Monday morning, the airline's annual report should be released in its...

Indonesia has raised the alert level for Mount Lewotobi Laki Laki after it erupted 8 times in the past weekend, according to its volcanology agency. Lewotobi-Laki-laki volcano, which is located in Flores Island in eastern Indonesia, released volcanic ash up to a height of 5.5 kilometers (1.8 miles), according to Muhammad Wafid. The agency's chief said this in a late Sunday statement. He said: "Our analysis revealed that Mount Lewotobi Laki Laki's activities are still high, so we have raised the status starting Sunday at 08:00 pm (1200 GMT)." The agency shared images of clouds of dense grey ash rising...

Industry data shows that air freight capacity between China, the U.S., and Canada dropped by nearly a third this month after a tax exemption was removed for low-value goods leaving China. This has impacted a major revenue stream for Asia’s largest airlines. Air cargo carriers such as Cathay Pacific and China Southern have benefited from the booming volume of ecommerce from China to America, led by fast fashion retailers like Shein and PDD Holdings Temu. The temporary reduction in reciprocal tariffs between Washington and Beijing on Monday, from over 100% to more than 50%, prompted U.S. companies to resume their...

Air India has asked Indian officials to stop IndiGo's leasing deal with Turkish Airlines. They cited business impacts as well as concerns about security sparked by Istanbul’s support of Pakistan. Indians are canceling holidays due to the growing anger of Indians against Turkey's position on Pakistan during the India-Pakistan Conflict. Celebi is a Turkish ground handling services firm that was denied security clearance by the Indian government, citing national safety. IndiGo, since 2023, has a leasing agreement with Turkish Airlines. Turkish Airlines has provided IndiGo with two planes, pilots, and crew for the New Delhi and Mumbai to Istanbul routes....

Singapore Airlines' Chief Commercial Officer Lee Lik Hsin stated on Friday that the airline has seen an increase in passengers traveling to China over the past few months. However, outbound travel is still below pre-pandemic numbers. Lee, at a press conference following the announcement of the annual results, said: "We've seen a significant increase in inbound travel to China over the past six months." He said that the load factors (or the share of seats on flights) on the carrier's China flight have improved from the 70% range to within the 80 range. Asia's recovery from the pandemic has been...

The White House announced that President Donald Trump had announced Thursday deals worth over $200 billion between United States and United Arab Emirates. This included a $14.5-billion commitment by Boeing, GE Aerospace, and Etihad Airways. The White House announced that Boeing and GE received a commitment by Etihad Airways, to invest $14.5billion to purchase 28 American-made Boeing 777X and 787 aircraft powered by GE engine. Etihad didn't immediately respond to an inquiry for comment. Boeing and GE did not respond. The White House stated that the addition of the next generation 777X to its fleet plan deepens the longstanding partnership...

The tariffs that President Donald Trump imposed on April 2, and the subsequent pauses in some cases, have created uncertainty among companies around the world. Some of these companies have withdrawn or stopped giving financial guidance. This is a list that includes companies who have taken such steps: AUTOS & TRANSPORTATION AUTINS GROUP A UK-based company that sells car components delayed its release of market guidance for the month of April, citing the uncertainty created by U.S. Tariffs. CUMMINS The U.S. truck engine maker withdrawn its annual forecast on 5 May. Ford The U.S. automaker suspended its annual guidance May...

Leasys, an auto leasing company, aims to double its fleet's share of electric and hybrid vehicles by the end of next year. The rapid advancements in electric technology present challenges to the industry. Leasys, a 50-50 joint venture between Stellantis in Italy and France's Credit Agricole is the third-largest player in Europe's long term auto rental industry. The long-term lease, which allows the customer to rent a car at a fixed rate per month, usually for a minimum of 365 days, is an alternative to owning. In recent years, corporate clients have driven its popularity. Leasys is present in 11...

The Shanghai Futures Exchange's (ShFE) copper inventories declined this week. This is the second consecutive week that there were double-digit withdrawals. Traders say it could lead to a spike in imports and prices. Copper inventories in the ShFE On Wednesday, the number of 89,307 metric tons fell by 27,446 tonnes, or 23.5%, from Friday. The 32% drop in the previous week was the biggest percentage decline ever. Four traders said they expected withdrawals to raise prices for ShFE Copper, a critical metal for China's vast industrial sector. They also expect more metal to be brought into the exchange warehouses. This...

Reports citing four traders indicate that copper inventories at the Shanghai Futures Exchange will continue to fall this week. This would be a continuation of the steep drop, and could trigger a price spike. Traders said that the surge in prices for ShFE copper, an important metal used by China's massive manufacturing sector, would attract more metal into the exchange warehouses. This will make a complete depletion of the stock unlikely. Yangshan copper premium is already tightening up. It is a measure of China's appetite to import copper. On Monday, it was at $93 per ton, its highest level since...

LME data on Thursday showed that the proportion of aluminium with Russian origin registered in warehouses at the London Metal Exchange increased to 88% from 75%, and the percentage of Indian origin decreased to 11%. To comply with U.S., British and European sanctions over Russia's invasion of Ukraine in 2022, the LME has banned all metals produced in Russia from its warehouse system after April 13, 2024. Metal made before April 13, 2024 can still be traded. Stocks of aluminium with Russian origin, or those on warrant The end-of-March figure was 200,700 tons, up from 155125 tons in February. The...

Abiove, the traders' association, and a toll-road operator announced on Tuesday that indigenous Brazilian protesters had lifted their blockade of Brazil's Trans-Amazonian Highway. This reopened a vital grain shipping route connecting farmers to the Miritituba River Port. On March 25, Munduruku activists shut down the road (also known as BR-230) to pressure Brazil's Supreme Court into overturning a law that limits indigenous land rights in 2023. Grain traders reported that the protests prevented the shipment of around 70 000 metric tons worth nearly $30 million of grains every day. Abiove reported that it had learned on Tuesday morning the indigenous...

In recent days, protests by indigenous peoples and poor roads disrupted the shipping of Brazil's bumper soya crop via the river port Miritituba within the Amazon rainforest. This has caused concern for global companies such as Cargill and Bunge who have important operations. Abiove, the association of grain handlers in Nigeria, reported on Friday that road access to Miritituba had been partially or totally blocked for two weeks. This has prevented the shipment of almost 70,000 tons per day of grain, equivalent to almost $30 millions of product value. In a statement issued jointly with the farm group Aprosoja Brasil,...

The finance chief of Dutch tank storage company Vopak said that the final decision regarding the initial public offering (IPO) of its Indian joint-venture Aegis Vopak is expected to be made in the first half 2025. Michiel Gilsing, CFO of Vopak, said that the company sold a small amount as a private placing in 2024. This was to prepare for the IPO. The deal resulted in a net gain of 13.6 million dollars ($13 million). He said that the final valuation of AVTL would determine whether or not further gains could be made. Gilsing stated that Vopak operates terminals in...

LME data on Monday showed that the number of Russian-made aluminium in London Metal Exchange storage warehouses was up in January compared to December. The amount of Indian metal, however, fell. According to traders, the majority of the aluminium in LME registered warehouses at Port Klang in Malaysia is of Indian origin. This is what Western consumers are looking for, as many have refused to purchase metal made in Russia after it invaded Ukraine almost three years ago. Stocks of aluminium with Russian origin, or those on warrant At the end January, the total reached 164 475 metric tonnes, or...

According to a survey published on Tuesday, the stricter traffic regulations in place since the beginning of the year have caused disruptions and increased costs in the transport and logistics industry in Vietnam. New road safety regulations have increased the fines for serious traffic offences such as disregarding traffic lights. The new regulations are also more significant for the logistics industry in Southeast Asia's industrial and export hub because they require truck drivers to take a 15-minute break after every four hours driving. In a survey of more than 460 employees and executives, mainly from the logistics sector and distribution,...

A group representing major automakers stated on Friday it filed a claim to obstruct a. landmark rule from the administration of President Joe Biden. requiring nearly all brand-new cars and trucks and trucks by 2029 to have. innovative automated emergency situation braking systems. The Alliance for Automotive Development, representing General. Motors, Toyota Motor, Volkswagen and. other automakers, said the guideline settled in April by the. National Highway Traffic Security Administration is almost. difficult with offered technology. The group asked the U.S. Court of Appeals for the District. of Columbia to overturn the rule. NHTSA declined to comment. The alliance stated...

Senalia, which runs the largest terminal at France's most significant grain port Rouen, forecast on Friday its export volumes would drop by majority this season after a poor French harvest. Cooperative-owned Senalia said that for the 2024/25 July-June season, it expects to manage 1.6 million metric lots of cereal deliveries, down from 3.85 million in 2023/24. France harvested its smallest wheat crop considering that the 1980s last year after repeated heavy rains, with barley production also falling greatly. The European Union's greatest grain manufacturer has actually likewise dealt with hard competition from cheaper Black Sea suppliers like Russia and Romania,...

Energy and commodities trader Vitol is trying to lower its storage costs with plans to get rid of significant quantities of aluminium from London Metal Exchange (LME) storage facilities in Port Klang, Malaysia, 3 sources acquainted with the matter said. LME approved storage facilities charge 56 U.S. cents per metric lot to save aluminium in Port Klang, about 5 times more than rent charged for metal outside the LME's warehousing system. Vitol, which decreased to discuss its strategies, is increase its existence in international metals markets after a previous foray into base metals ended in 2014. It preserved a presence...

A freight lobby has actually warned of the risk of logistical collapse after Brazilian transportation firm ANTT altered payment system guidelines for trucks moving countless lots of agricultural commodities and other freight, according to a declaration on Thursday. Intro of electronic tags as the only accepted ways of payment comes as Brazil starts gathering a huge soybean crop of nearly 170 million heaps, stated Carley Welter, executive director at ANATC, a national association of freight companies. ANATC, whose members have actually 2.2 million signed up truck drivers, said firms supplying the tags have been not able to meet high demand....