Europe

BENGALURU - The state's chief Minister said late Thursday that the MSC Group had not consulted Kerala about its $1.4 billion investment planned in Vizhinjam Port in partnership with Adani 'Ports' and 'Special Economic Area'. Adani Ports announced on Tuesday that MSC will acquire a 49 percent stake in the Vizhinjam port. This is expected to be 'the largest private foreign investment in India’s port infrastructure. The world's largest container shipping company, based in Switzerland, is?MSC. "I conveyed the State Government's strong resentment to the management of?Adani Ports and Special Economic Zone Ltd", Chief Minister V.D. Satheesan?stated?in a?post?on X. The...

According to documents and officials, Europe has taken more aggressive action against tankers that falsely use the Cameroon flag registry for transporting?Russian oil. This includes boarding vessels on sea. The EU has expanded its'mandate for Operation IRINI in the Mediterranean on June 8, allowing it to stop, board, detain and inspect suspected Russian "shadow fleet" ships. Moscow condemned the move. Russia has used these tankers to avoid sanctions, by sailing them under different flags to conceal their true ownership, cargo, and movements. Two European military sources claim that three tankers, the Nelsa and the Oneiroi, which were boarded by IRINI...

According to data from tanker monitoring and documents of the state-run PDVSA energy company, Venezuelan oil exports dropped slightly last month?to 1.24 million barrels per daily from 1.24 bpd in may?as a result of two deadly quakes causing?minor delay at terminals operated. The vast PDVSA infrastructure was mostly unaffected by the twin earthquakes, which left nearly 2,000 dead and hundreds of buildings damaged according to official statistics. The power issue must be resolved before all the oil refineries, including El 'Palito, can resume operation. Documents show that the main oil terminal for the state-owned company in the eastern part of...

The finance ministry announced that Uganda had'signed a EUR110.5m ($126.1m)?agreement? with the local unit of international lender?"Standard Chartered? to help finance the building of a new road in the northeastern region of the country. In a late-night post on X, the Ministry said that a new 115.8 km road would help "reduce transportation costs" and strengthen regional trade. * The road will be built in Karamoja in northeastern Uganda, near the Kenyan border. In recent years, the area has attracted a rush in investor interest because of its vast mineral potential. The Ministry said that the road would 'also support...

Here are some of the main factors that could affect Swiss stocks on Tuesday: COMPANY STATEMENTS MSC?GROUP Adani Ports and Special Economic Zone in India announced on Tuesday that Switzerland’s MSC Group would acquire a 49% stake in the Vizhinjam Port for $1.4 billion. This, it claimed, was the largest private foreign investment in port infrastructure in India. ECONOMY *June Swiss KOF indicator is due at 0700 GMT. *Swiss May Official Reserves Assets due at 0700 GMT. (Reporting by Zurich newsroom and Gdansk newsroom) |1|For Top News ?in a multimedia Web format on Eikon visit: ?https://bit.ly/2NDFd6g FOR RELATED PRICES, NEWS...

India's Adani?and Special Economic Zone announced?on Tuesday?that switzerland's msc?group will acquire a 49 percent stake in its Vizhinjam?port for $1.4 billion. It said that this is the largest foreign private investment made in domestic port infrastructure. MSC, world's largest container ship?company will invest through its Terminal Investment unit. Adani Ports The partnership is expected to boost cargo volumes and accelerate ramp up at the Kerala based port. Adani Ports said that the investment was part of their strategy to deepen partnerships with global port operators in order to 'drive traffic and accelerate capacity ramp-ups at Vizhinjam. This is one of...

The Federal Aviation Administration has opened an investigation into a JetBlue flight that reported hitting a drone as it approached New York's John F. Kennedy International Airport. The FAA reported that the pilot of an Airbus A321, departing from Las Vegas at the time, reported the incident while the aircraft was on final approach. According to the U.S. regulator, the incident occurred around 7:15 am EDT. The airline reported that the flight landed safely, passengers deplaned as usual, and that the plane had been withdrawn from service after a post-flight check, during which no evidence of damage or collision was...

The Federal Aviation Administration announced that it had?launched a probe after JetBlue reported a JetBlue plane?hitting an unmanned aerial vehicle while approaching New York's John F. Kennedy International Airport in New York on Monday. The FAA reported that the pilot of an Airbus A321, departing from Las Vegas at the time, had reported the incident while the plane was on final approach. According to the agency, the incident occurred around 7:15 am EDT. The airline reported that the flight landed without incident and customers deplaned as normal. A post-flight check found no evidence of damage or a collision. The Port...

Former head of Italy's State Railway Company, 72 years old, has begun a 5-year prison term for a derailment in 2009 that killed 32 people. This case highlights the issue of managerial liability and the slow pace of Italian justice. Mauro Mauretti was CEO of Ferrovie dello Stato when a train carrying goods came off its track as it passed Viareggio station in Tuscany. The cargo of liquefied gases exploded and caused a massive fire to spread throughout the station. Moretti received a seven-year prison sentence in 2017 after a long initial trial. Moretti did not serve his sentence because...

The prices of Caspian crude oil grades such as Kazakhstan's CPC Blend and Azerbaijan Azeri BTC are falling despite the growing pressure on European barrels, traders said. The difference between Caspian crude oil and Brent has weakened in line with the global trend. As Gulf oil supplies increase, physical cargoes in many regions are now at discounts to Brent. Iran is expected to boost sales after a temporary easing of U.S. sanction. On Wednesday, oil prices fell further, continuing the declines that began earlier in the week. They are now hovering at four-month lows as more tankers, which have been...

The company's Press Office announced on Wednesday that Exxon's oil refinery in the 'Belgian Port' of Antwerp will stop production from June 29 until July 3, due to a striking action. ABVV Petroleum union stated on its website that workers at the refinery oppose a plan of cutting 35 jobs from a total of 735. According to the union, staff are also protesting about their deteriorating conditions of work and fewer options for early retirement despite ExxonMobil making higher profits because fuel prices have risen. The union stated that the job cuts were part of a wider reorganization, which will...

The?High Court of London ruled that Britain's approval for Gatwick Airport expansion was legal. This allows the country's 2nd busiest hub to proceed with its plan to add millions more passengers by 2030. Last year, the government approved the?opening? of a?second runway? at Gatwick Airport, located 30 miles (48km) south-east of London. However, two environmental groups brought a lawsuit over noise and air pollution. Both the Gatwick Area Conservation Campaign and Communities Against Gatwick Noise and Emissions said that they would appeal Tuesday's decision. GOVERNMENT HAS BACKED NEW RUNWAY The government said that the increased use of sustainable aviation fuel...

The Kremlin stated on Friday that the European Union must consider Ukraine's suspected role in blowing up a Nord Stream gas pipeline in September 2022, when deciding whether or not to grant EU membership for Kyiv. Dmitry Peskov, the Kremlin's spokesman, was commenting on German federal prosecutors charging a former Ukrainian officer with being involved in the blasts. The man, identified only as Serhii, was accused of co-perpetrating a war crimes and acting for?Ukrainian government entities. The authorities in Kyiv stated on Thursday that they didn't have enough information about the case to be able to answer in detail the...

A Moscow car dealer is struggling to meet the 'demand' for new electric vehicles imported from China, as drivers try to avoid a fuel shortage that has caused long queues and skyrocketing prices in much of Russia. In recent weeks, the escalating Ukrainian attacks on Russian energy infrastructure has caused gasoline and diesel to be restricted in many regions. According to calculations, retail gasoline prices have reached some of the highest levels ever recorded in Europe. The Russian EV market has been slowed by the harsh climate and distances in Russia. Some motorists are switching to EVs because of the...

In Moscow, a car dealership struggles to keep up with the demand for new electric vehicles. Drivers are looking to avoid a fuel crisis which has caused long queues and skyrocketing prices in much of Russia. In recent weeks, the escalating Ukrainian strikes against Russian energy infrastructure has caused gasoline and diesel to be scarce. This has led to restrictions in many regions. According to calculations, retail gasoline prices have reached some of the highest levels ever seen in Europe. The vast distances between cities in Russia, the harsh climate and the limited charging infrastructure have all contributed to the...

Three?trade-and-industry sources? said on?Thursday that oil shipments from Russia’s western ports reached a record in 'June, and they are expected to continue at this level in 'July. This is because ongoing drone attacks against domestic refineries will force Moscow to increase crude exports. According to sources, exports from the Baltic port of Primorsk, Ust-Luga and the Black Sea Port of Novorossiysk amounted to nearly 3,000,000 barrels of oil per day in the month of June. The?sources stated that loadings will be close to 3,000,000 bpd in this month. They added that the capacity of the seaports limits the shipments and...

An industry source said that oil production has been restored at the Karachaganak gas field in Kazakhstan, amid increasing natural gas production and increasing supplies to the Russian gas plant just across the border. After the drone attack by Ukraine on Orenburg's gas processing plant on June 24, Kazakhstan cut?gas production? at its Karachaganak Oil and Gas Condensate Field. The oil and gas output of Karachaganak is closely related, so the field cannot produce much if its production of gas is low. In an emailed comment, the?ministry said that gas supplies had already resumed on?June 26 and were flowing at...

German Federal prosecutors announced on Thursday that a 'Ukrainian citizen linked to the Nord Stream Pipeline explosions was?charged as a 'complice of a war crime and disruption of public services. He also faces charges for causing an explosive to occur, and destroying buildings. Serhii, or K as the suspect, is known to German privacy laws, is suspected of acting for?Ukrainian government entities along with other military staff, in order to?destroy pipelines in the year 2022. Prosecutors alleged that the goal was to stop gas deliveries via pipelines permanently and to prevent Russia from using revenue from the natural gas trade...

In a speech to the European Commission in Baku, Ursula von der Leyen, President of the European Commission, said that up to EUR200m ($228m) would be provided as grant funding for boosting transport, energy, and digital links across 'the South Caucasus. Von der Leyen met with Azerbaijani president?Ilham Alyeev along with EU Enlargement commissioner Marta Kos. She said the initiative was intended to support peace between Azerbaijan and Armenia through strengthening regional connectivity and providing targeted assistance to local communities. Armenia and Azerbaijan have been at war for nearly four decades, over the mountainous region Nagorno Karabakh. They reached a...

German federal prosecutors 'have filed charges against a Ukrainian citizen over 'the Nord Stream pipeline explosions, ARD, Sueddeutsche... and Zeit,?German media outlets reported on Wednesday. Federal prosecutors declined comment. The explosion of the Nord Stream gas pipelines that carried Russian gas into Europe was a major flashpoint between Moscow and 'the West. It came just months after Russia invaded Ukraine in February 2022. According to ARD, prosecutors accuse a Ukrainian national known as Serhii K - according to German privacy laws - of 'attacks on civil energy infrastructure, causing explosions and destroying structures. The suspect was detained in Italy's Rimini...

Alexei Likhachev, the CEO of Rosatom, said that fuel shortages had prompted a rise in demand for electric vehicles. He predicted that this would lead more drivers to choose battery-powered cars. Fuel restrictions have been imposed across the country due to intensifying Ukrainian strikes against Russian energy infrastructure. Likhachev, a reporter, said: "We have already seen a significant rise in the use of our electric charging stations." He said that between June 21 and 28 the demand for Rosatom's?over 290 stations of charging rose by 40%. Likhachev said that although the current situation is unlikely to lead to an immediate...

Calculations showed that the average daily natural gas supply to Europe via the TurkStream pipeline fell by 3.7% compared to a year earlier to 36.2 million cubic meters in June. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to extend the five-year agreement with Moscow that expired in January 2025. According to calculations based on data from the European Gas Transmission Group Entsog, total Russian gas supplies via TurkStream to Europe were?1.09 billion cu?metres in June 2018, down from 1.13 Bcms in 2025. The half-year supply increased by around 5%, to...

Data from market sources and LSEG show that Russia's seaborne gasoil and diesel exports plummeted in June. They fell by 39% from the month before to 1.8 million metric tonnes and 46% from 3.35 mtonnes in the same month a year ago, as waves of drone strikes forced unplanned shut downs at key refineries. According to traders' calculations and estimates, the number of ultra-low-sulphur Diesel shipments from Primorsk - Russia's largest outlet for diesel exports - has fallen by over half since May. The Russian authorities haven't made a definite decision yet about banning diesel exports. However, traders believe that...

Estonia released images of a Russian-flagged LNG carrier in the Baltic Sea this spring with machine guns and sandbags, indicating a more aggressive stance from Moscow to 'protect its civilian fleet. Surveillance images show machine gun positions fortified on the roof of the Marshal Vasilevskiy civilian vessel, which has its home port in Kaliningrad. Yoruk isik, a geopolitical expert who runs the Bosphorus Observer consulting, described it as "a crazy step" by civilian vessels operating in the Baltic. Isik said that "this is a hostile act by Russia" to send a signal to EU and NATO nations, saying it would...