Asia

Air India's Board is?looking for a new Chief Executive to replace Campbell Wilson. Two people with direct knowledge said this. The airline continues to be under scrutiny due its safety lapses following a June crash that killed 260 people. After the worst aviation accident in the last decade, regulators pointed out a number of problems, ranging from not performing emergency equipment checks on aircraft to replacing engine parts late, falsifying maintenance records and failings in crew fatigue management. Wilson will take over as Air India's CEO and managing Director in July 2022, after a career of 26 years at Singapore...

Air India is looking for a new CEO to replace Campbell Wilson. Two?sources? familiar with this matter said that the airline was still under intense scrutiny following a fatal crash in June. Air India's crash in June, which killed 260, has prompted a greater scrutiny of the airline. Regulators have flagged lapses that range from not checking emergency equipment to delays in replacing engine parts and crew fatigue. Wilson became Air India's CEO and managing Director in July 2022 after a career of 26 years at Singapore Airlines. He held various senior roles across the flagship carrier as well as...

A person with knowledge of the situation said that Canada's Transport regulator had 'asked Air India to conduct an investigation into the incident where a pilot was removed from the plane before takeoff and was found to be drunk, according to a source familiar with the case. The person who spoke on Friday said that two breathalyzer tests performed by Canadian police officers at Vancouver International Airport proved the pilot to be unfit for duty. Transport Canada referred to the incident as "a serious matter" in a letter sent to Air India. Authorities are likely to take enforcement action, according...

A person familiar with the situation said that Canada's Transport regulator asked Air India to look into an "incident" where a pilot reported for duty while under the influence of alcohol and failed two breathalyzer testing. A person who spoke to the person claimed that the tests were conducted at Vancouver International Airport by the Canadian police after the pilot had been asked to leave the plane. Transport Canada referred to the incident as "a serious matter" in a letter sent to Air India. The person said that authorities are likely to take enforcement action. The person asked for anonymity...

A district official reported that two monorail trains collided late on Tuesday at a hydropower plant being built in India’s?northern?state of Uttarakhand. At least 109 employees were injured. The official said that the majority of workers suffered minor injuries. Four workers suffered fractures. The trains collided in a 'tunnel' in Pipalkoti. This is the site of a upcoming 'hydropower project owned by Tehri Hydro Development Corp. (THDC) and NTPC Ltd. Gaurav Kumar, top?administrative official in the?area, said by phone that the accident happened on Tuesday night, after brakes of a monorail train failed. The trains were used to transport workers...

Air China, China's largest carrier, announced on Tuesday that it and its subsidiary signed a "pact" with Airbus for the purchase of 60 A320NEO aircraft. The deal is worth approximately $9.5 billion in list prices. This announcement is just the latest of a series made by carriers in the second largest aviation market in the world, including Spring Airlines and Juneyao Airlines. Both plan to buy Airbus aircraft. Air China has informed the Shanghai Stock Exchange that it will deliver its planes in batches from 2028 to 2032. Airbus said that it was "very pleased" with Air China's decision to...

The European stock market closed at a record level for the second consecutive day on Tuesday. This was boosted by commodity-linked stocks and banks, but gains were limited by thin trading in the year-end period. The pan-European STOXX 600 index rose by 0.6% to?592.78, moving ever closer to 600 points. Aerospace and Defence gained 1.4%, while banks jumped 1.3%. The defence index is on track to achieve its largest annual gain since 1996 despite the fact that it has been easing off since October. This is due to increased defence spending pledged across Europe. STOXX 600 rose 1.7% as basic...

IndiGo introduced new pilot allowances, and raised some existing ones. This is a sign that India's biggest airline wants to?boost pilot morale after weeks of mass flight cancellations caused by a?poor schedule planning. According to Ashim Mittra's email to the pilots, the airline will increase its layover allowances. For captains it will go up to 3,000 rupees (33.37 dollars) and for first officers to 1,500 rupees. The email stated that allowances?for 'deadheading' - where airline crew members travel as passengers in order to prepare for future duties - would be raised to 4,000 rupees (from 3,000 rupees) for captains and...

Russian Railways announced on Monday that the board of directors has approved spending for 2026 of 713.6 billion rubles ($9.15 billion), down from this year's 890.9 billion roubles. The Russian government is looking at ways to support the country's largest commercial employer. This company has accumulated a?debt pile of 4 trillion roubles ($50.8 billion), despite falling revenues caused by a sharp drop in Russia's war economy. Russian Railways announced that 531.4 billion rubles of the approved expenditure will go towards maintaining the 'infrastructure, safety and security. Another 161.7 billion roubles is earmarked for the purchase of railcars, and 120 billion...

IndiGo introduced new pilot allowances, and increased some of the existing ones. This is a sign that India's largest airline wants to boost pilot morale after weeks when?massive flight cancellations due to poor roster planning?left passengers?stranded? According to Ashim Mittra's email to pilots, the airline will increase the layover allowance for captains from 2,000 to 3,000 rupees (about $33.37), and for first officers from 1,000 to 1,500 rupees. The email stated that allowances for "deadheading", a practice in which airline crew members travel as passengers so they can position themselves for future duty, will increase to 4,000 rupees (from 3,000...

According to stock exchange filings, China's Spring Airlines (China) and Juneyao Airlines (Japan) announced Monday plans to buy 30 and 25 Airbus A320 family?jets. Spring Airlines, a budget carrier in China, has signed a deal to purchase 30 A320neo planes at a list price of $4.13 billion. The company filed corresponding documents with the Shanghai Stock Exchange. It said that the jets would be delivered in batches between 2028-2032. In a filing with the Shanghai Stock Exchange,?Juneyao Airlines of Shanghai said that it planned to sign an agreement?with Airbus to buy?25 A320 family jets. The planes, based on their list...

Indonesian rescuers found a dead body on Monday while searching for Spanish soccer coach Fernando Martin, his children and their boat after it sank on Friday near the coast of an?popular tourist destination. Martin was a coach for the Spanish club Valencia CF. The club confirmed that he and three of his children had died in a tragic boating accident in Indonesia. Authorities said that the boat Martin was on with his family capsized Friday due to an engine failure in bad weather conditions near Labuan Bajo. This location is close to the Komodo National 'Park, a UNESCO World Heritage...

Ukraine's largest?private energy company said on Sunday that it had restored power to more than one million households around Kyiv, a day after an air strike by Russia had caused emergency outages. Two people were killed and power was knocked out in large areas of the capital area and surrounding region by a combined?missile-and drone attack? that occurred early Saturday morning. DTEK announced in a statement that it restored electricity to 748, 000?households?in Kyiv as well as 347,000?outside the city. The report said that the situation on Kyiv’s left bank was "more difficult", as emergency power outages were still in...

State media reported that Iran had seized an oil tanker from a foreign country near the Iranian island of 'Qeshm, in the Gulf. The tanker was said to be carrying 4,000,000 litres of fuel smuggled, the report stated. The authorities did not name the vessel nor disclose its nationality. The authorities alleged that 16 foreign crew were?detained for criminal charges. State TV reported that the tanker had been seized on Wednesday. Iranian news sites published photos and video footage of the tanker they claimed to have seized. Iran announced last week that it had seized a foreign tanker carrying smuggled...

State media reported that Iran had seized an oil tanker from a foreign country near the Iranian island of Qeshm, in 'the Gulf. It said it was carrying smuggled fuel of 4 million litres. The authorities did not disclose the name of the vessel, its nationality or when it was seized. The authorities said that 16 foreign crew members had been arrested on criminal charges. Iranian news sites?published video and photos?of the tanker they claimed to have seized. Last week, Iran announced that it had intercepted another foreign tanker in the Gulf of Oman carrying 6,000,000 litres of diesel it...

Alexei Miller said that Gazprom, the Russian gas corporation, supplied 38.8 billion cubic meters of gas to China through the Power 'of Siberia' pipeline this year. This is an increase of nearly a fifth compared to the previous year. Miller stated that by the end of 2025, the company will have exceeded its contractual obligations to China in terms of gas supply. Sources familiar with data said on Monday that Russia’s pipeline exports to China of?natural?gas were expected to hit around 38.6-38.7 bcm this year. This is up from 31 bcm by 2024 and exceed the pipeline's annual capacity of...

The Russian government has delayed by "several" years its plan to achieve a 100 million-ton annual target for liquefied gas production, Alexander Novak, deputy prime minister, told state television on Thursday. He cited the impact of Western sanctions on Russia's energy industry. Sanctions imposed by the United States over the conflict with Ukraine have impacted Russia's plans to increase its share of the global LNG industry from 8% today to a fifth by 2030-2035. This includes the new Arctic LNG 2 facility. According to a recently updated government strategy, Russia will produce 90-105 millions tons of LNG in 2030 and...

Vingroup, Vietnam's largest conglomerate said it would withdraw its proposal to invest $67 billion in the North-South high speed railway project of Vietnam, and instead focus on other projects. Vingroup said that the decision to register, which was "submitted" in May, was made after a reassessment was done of the company's resources following the awarding of major national projects including a stadium with Olympic standards and rail lines linking key locations. Vingroup shares and those of its units (including?developers Vinhomes, Vincom Retail and Vinpearl) fell by 7%, while hospitality company Vinpearl dropped 3%. This announcement dragged the benchmark index to...

According to Serbia's RTS TV, the U.S. granted Serbian oil refiner NIS until March 24th to 'negotiate' the sale of their 'Russian owner's' stake. RTS stated that NIS did not have an operating license which would allow it to purchase and process crude oil. After a series waivers granted since January, the Office of Foreign Assets Control of the U.S. Treasury Department imposed sanctions against NIS as part of broader measures taken against?Russian energy sector. The sanctions have stopped crude oil supplies through Croatia's JANAF pipe, which has shut down production at?Pancevo. Gazprom, the sanctioned oil unit of Russia's Gazprom,...

A Ukrainian farmer's association said that the Russian attacks on Ukrainian ports have already harmed food exports. This could result in a significant drop?in trade, despite attempts to divert shipments by rail. Ukraine is the largest exporter of corn and wheat in the world, as well as sunflower oil. Early in the nearly four-year war, a de facto Russian blocade worsened global food shortages. Since 2023, the majority of Ukrainian food exports has resumed. This month, Russian drones and missiles have been attacking the Odesa region's ports almost daily. Export capacity has decreased. The UAC union reported that some wheat...

Petroliam Nasional, the Malaysian state-owned energy company On Wednesday,?it said that it would supply Chinese offshore oil company CNOOC 1 million metric tonnes of?liquefied gas (LNG) per year. Petronas stated in a press release that the agreement between Petronas 'LNG and CNOOC Gas and Power Singapore 'Trading & Marketing' builds on existing cooperation between both?companies. Petronas will sign a 10-year contract for LNG supply with a CNOOC subsidiary in?2021. The deal is valued at $7 billion. CNOOC and Petronas have not responded to our requests for details, including the duration of the deal. Petronas and Canadian oil company Pembina Pipeline...

The Polish company announced on Tuesday that Poland's oil pipe operator PERN had signed an agreement with Kaztransoil regarding technical cooperation in relation to shipments of Kazakh oil? to Germany. PERN stated in a press release that the agreement includes delivery scheduling, information exchange, inspections, and certification of meters used during the handling process. Since the suspension of Russian shipments?after Moscow invaded Ukraine, PERN has been supplying?oil from Kazakhstan to Germany's PCK Schwedt Refinery. The refinery also relies on seaborne supplies via Gdansk. The state-controlled Russian energy firm Rosneft holds a majority stake of PCK which supplies much of Berlin's...

Market sources reported that the differential between Urals crude and CPC Blend remained unchanged on Monday. However, export volumes of CPC Blend remained uncertain due to?repairs continuing on single-point mooring units (SPMs)?at CPC Terminal. CPC is loading oil into SPM-1. SPM-2 has been taken out of service due to a drone attack by Ukraine, and SPM-3 undergoes scheduled maintenance. Oil prices rose on Monday, after the U.S. Coast Guard attempted to intercept an oil-tanker in international waters near Venezuela, a day earlier. Ukraine also damaged two vessels in Russia and their piers, increasing the risk of disruptions in oil supplies....

Sources familiar with data said that Russia's natural gas exports to China will have increased by 25% this year, as Moscow increases its sales to Asia. Calculations showed that this would not compensate for the revenue loss due to the loss of European gas markets. Since the beginning of the Ukraine war in 2022, Russia has diverted most of its oil towards India and China as Moscow and Europe, once its primary commodity export market and revenue source, severed their ties. The 'diversion of gas flows to the east has proven to be more difficult and painstaking discussions to bring...