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ADNOC CEO: UAE's withdrawal from OPEC is not directed at anyone
Sultan 'Al 'Jaber, CEO of Abu Dhabi - National Oil Company, said that the decision by the United Arab Emirates to leave OPEC and OPEC+ is not aimed at anyone in particular but serves national interests. The oil-rich Gulf nation left the group on 1 May, widening the rift with Saudi Arabia. Saudi Arabia is the leader of the Organization of the Petroleum Exporting Countries. Al Jaber, in a speech delivered at the "Make It In The Emirates Conference", said that "the United Arab Emirates sovereign decision to reposition themselves within the global energyscape, and to leave OPEC and OPEC+ is not a choice made against anyone." The UAE and Saudi Arabia, once firm allies have developed a simmering rivalry. They clash on issues ranging from oil policy, regional geopolitics, and the race to attract foreign talent and capital. Al Jaber stated that the UAE's decision to leave OPEC was in its national interest and long-term strategy objectives. It would give it greater capability to accelerate investments, expand, and create value while remaining a trustworthy and responsible partner on global energy markets. He called on the private sector and the sovereign wealth funds of the UAE to take bold decisions, saying that the UAE has shown resilience in the face of Iranian attacks. "This phase?requires bold and serious decisions. Al Jaber stated that investing at home or in direct domestic investments is not an option anymore; it's a priority. UAE is a long-time ally of the United States in the Middle East and has been a reliable regional financial and business hub. The 'Iranian missile attacks on U.S. bases and Gulf states has shattered this region's safe haven aura, and investors are now frightened. Yoused Saba (reporting), Tala Ramadan (additional reporting), Nayera Abdallah (writing), Bernadette B. Baum, Emelia Sithole Matarise and Emelia Sithole Matarise edited this article.
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Data shows that Russian pipeline gas exports into Europe fell by 1.7% year-on-year in April.
The TurkStream pipeline, which is operated by the Russian energy giant Gazprom, has reduced its average daily natural gas?gas?supplies into Europe from 41 million cubic meters to 41 millions cubic metres in April compared to a year ago. Prices rose sharply after shortages arose from the closure of the Strait of Hormuz - a conduit that carried a fifth of global oil and gas. Turkey is the only route through which Russian gas can be transported to Europe. This is because Ukraine did not extend its five-year agreement with Moscow, which expired in January 2025. According to calculations based on data provided by the European Gas Transmission Group Entsog, total Russian gas supplied to Europe via TurkStream was 1.23 billion cubic meters?last months. This is down from 1.25 billion cubic metres in April 2025. Exports increased 7.3% on an annual basis in the first four month of this year to around 6.2 billion cubic meters. Gazprom has not responded to a request for comment. Since the beginning of 2023, it has not published its own monthly statistics. According to calculations, the company's exports of gas to Europe fell by 44% to 18 bcm last year, the lowest level since the mid-1970s. This was due to the closing of the Ukrainian route. In 2018-2019, Russian pipeline gas exports to Europe reached a peak of around 180 billion cubic meters per year. (Reporting and writing by Oksana Kobieva, editing by Kira Donovan).
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Gulf crisis affects Australian and New Zealand companies, from airlines to banks
The U.S. and Israel war on Iran is causing financial stress for companies in Australia and New Zealand. Higher fuel prices are a major factor, as they increase inflation, erode consumer and business confidence, and reduce corporate earnings. Below are some companies in Australia and New Zealand who have reported an impact of the Middle East conflict. Air New Zealand, New Zealand's national carrier, suspended its full-year earning outlook in early March and announced that it had increased fares because of volatility on the jet fuel market. It was one of the first carriers who announced price increases. On April 7, the airline announced that it would cut flights by 4% in May and June. This will affect around 1% of passengers and 4% of flights. Auckland International Airport, New Zealand: Auckland International Airport reported that flights to the Middle East from Auckland were affected. In March, the number of passengers on Middle Eastern routes dropped by 81% and seat capacity fell by 73% compared to a year earlier, according to airport operator. New Zealand-based a2 Milk has cut its profit forecast for fiscal 2026 as higher freight costs and supply chain disruptions due to conflict have affected the availability of the China-label infant formula product on its largest market. Cleanaway Waste Management has slashed their full-year operating profit forecast by approximately A$20million ($14.17million), due largely to higher costs, reduced activity and timing differences when it comes to cost recovery. Cochlear, an Australian manufacturer of hearing implants, has lowered its profit forecast for 2026 due to weaker trading on developed markets. The company cited slower surgical volumes, lower referrals for hearing aids, and a softer consumer attitude. The company stated that the Middle East War has increased risks such as order cancellations, delays in delivery, and a higher exposure to receivables. It also said that restructuring costs and margin pressure have been worsened by the Middle East conflict. Endeavour Group: Pub-operator Endeavour warned of fuel and freight inflation due to the war in Iran, which would increase their supply chain costs by A$6-A$8 million. The company said that it was experiencing price pressure in its entire supply chain because of?higher fuel prices linked to the Middle East Conflict. Owner of liquor chain Dan Murphy's, has launched a three-year drive to improve efficiency. The goal is to save A$100,000,000 by 2027, by reducing the number of support offices and optimising store layouts, among other things. Fletcher Building, New Zealand: Fletcher Building, New Zealand, said that it is 'indirectly exposed to the Middle East conflict through supply chains, freight lines, energy costs and the wider economic impact on the construction demand in Australasia. Construction materials manufacturer expects to increase prices in all divisions. Plastics will be affected by price increases of up to 36%. Other divisions will only see a 1%-5% increase. Fonterra New Zealand, a dairy producer, said the conflict could impact its supply chain and increase its inventory and costs in second half of year. It also contributed to volatility in global commodities prices. National Australia Bank: National Australia Bank said that it expects credit impairment charges of A$706 ($504.44 millions) in the first fiscal half 2026. NAB stated that the volatility of interest rates in the second quarter, the weakening New Zealand dollar, and the increase in provisioning would result in a reduction of the common equity tier one capital ratio for the group by approximately 20 basis points on March 31. The company also plans to apply a discount of 1.5% to its dividend reinvestment program for the first half to raise A$1.8 billion and help strengthen its balance sheet. Orora Packaging Company: Orora has lowered its earnings forecasts for its French division Saverglass, and cancelled the share buyback program. The company cited the impact of war. Due to the closures of shipping routes, the company also stopped bottle production in its glass production plant at Ras al-Khaimah (United Arab Emirates). Qantas Airways: Australia's flag-carrier, Qantas Airways has raised its fuel costs outlook for the second half year by as much as A$800,000,000 and announced that it had not yet started its planned A$150,000,000 share buyback, citing the sharply increased and volatile jet fuel price. Qantas has raised fares to offset the rising cost of its flights and shifted them towards stronger routes, such as Paris or Rome, where the demand is still strong. They have also reduced their domestic capacity in June by approximately 5 percentage points. Qube Holdings: Qube anticipates that the Middle East conflict will have an impact on its EBITA of between A$10 and A$20 million in fiscal 2026. The logistics company said that the recent events may support a rapid acceleration of investment in alternative energy projects which could be beneficial for the firm. Virgin Australia: Virgin Australia expects fuel costs to increase by around A$30 to A$40 million ($21.39 to $28.52 millions) in the second half fiscal 2026. In mid-March, the airlines announced that they were adjusting their fares due to the rising costs in the aviation industry. Westpac: Westpac, Australia's no. Westpac, Australia's no. Westpac's net margin for its Treasury and Markets division has been weakened amid the interest rate volatility caused by the conflict. A weaker outlook had already led to higher credit provisioning. Westpac has increased its provision for bad debts since the COVID-19 pandemic. Woolworths Woolworths is the largest Australian supermarket. It said that the Middle East conflict had created uncertainty for both customers and suppliers. This has exacerbated the already severe cost of living pressures. The company also warned that the domestic food segment's earnings growth would not reach the top end of the range in fiscal 2026 due to fuel price pressures, and customer retention investments. Woolworths has also announced that it will freeze the prices of 300 household staples from May 1 for three months, as cost pressures imposed by conflict on Australian suppliers are driving up prices across all supermarkets. Worley: Worley estimates that the negative impact of the Middle East Conflict on its underlying EBITA in fiscal 2026 will be between A$30 and A$40 Million. The Australian engineering company warned that it would not be able to grow its underlying EBITA by more than 5% in fiscal 2026 but still aimed to increase revenue in fiscal 2026.
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Sources say that the Air India CEO search has narrowed down to Singapore Air executive Kannan and insider Aggarwal.
Two sources who have direct knowledge of this matter say that Vinod Kanan, the Singapore Airlines CEO and Air India's Nipun Aggarwal, the commercial head of Air India are the frontrunners for the position of new CEO at Air India. This suggests that the search for the next CEO of India's second largest airline is close to completion. New Zealander Campbell Wilson announced last month that he resigned from the airline due to its persistent losses and regulatory scrutiny. One source said that the board of 'Tata Sons', the majority owners of the airline is currently discussing both names. There has not been a final decision and another candidate could emerge as the frontrunner. Tata Sons' spokesperson did not respond to a comment request. Air India refused to comment. Aggarwal and Kannan did not reply to text messages seeking a comment. Singapore Airlines owns a quarter of Air India. The rest is owned by Tata Sons. Air India's choice of a CEO is made at a critical time. The airline is facing heavy losses, increased regulatory scrutiny following a fatal crash last year and operational disruptions caused by the Iran War, which has?driven up costs and compounded effects of Pakistan’s airspace restriction. In April last year, Pakistan banned Indian carriers in its airspace following tensions between the two neighbours. Kannan was the CEO of Vistara - the joint venture between Tata Airlines and Singapore Airlines - before it merged with Air India. Kannan is a seasoned aviation professional who began his career in 2001 with Singapore Airlines. He has since held various roles within the airline. Aggarwal began working for Air India in 2022, after Tata Sons acquired the airline from the Indian government. According to Air India, he played a "key role" in the transformations of several Tata Group Companies between 2017 and 2020. He has also worked as an investment banker with Bank of America Merrill Lynch.
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What is the hantavirus which killed three passengers on a cruise ship?
Authorities and media reported on Sunday that three people died and another three were ill following a suspected hantavirus outbreak aboard a Dutch-based cruise ship. This is some information about the virus. Spread by?RODENTS According to the World Health Organization, Hantavirus can be spread by rodents and in rare cases between humans. Infections are most common when rodent saliva, urine, and droppings become airborne. The name of the virus comes from Hantan River, a region in South Korea where it was first identified back in the 1970s. It can be fatal Hantaviruses are a group of viruses which cause two diseases, the first affecting the lungs while the second attacks the kidneys. The first is the one that gets most attention, as it has a mortality rate of about 40%. Hantavirus respiratory syndrome is most common in North and South America. The Canadian government reports that there are approximately 200 cases of hantavirus-pulmonary illness each year. According to autopsy results, Betsy Arakawa died in New Mexico from hantavirus lung syndrome 2025. She was the wife of actor Gene Hackman. SYMPTOMS According to the CDC, hantavirus is usually accompanied by flu-like symptoms such as fatigue or fever one to eight weeks after exposure. After four to ten days, you may experience a cough, shortness of breath, and fluid in your lungs. The CDC says that it is difficult to diagnose flu symptoms within 72 hours, and so they can be easily mistaken as a virus. TREATMENT Since there is no specific treatment for hantavirus, the focus of care is on supportive measures such as rest and fluids. Some patients may require breathing support, such as a ventilator. PREVENTION Experts state that exposure to hantavirus is minimized when rodents are removed from areas with people. Vacuuming or sweeping up dried droppings can cause the virus to be aerosolized.
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United Airlines plane strikes light pole at Newark Airport
According to the Port Authority of New York & New Jersey, a United Airlines plane struck a light post on its final descent into Newark International Airport on Sunday. The aircraft caused damage to both the pole and a truck traveling nearby. According to the Federal Aviation Administration, United Airlines Flight 169 hit a light pole while approaching Newark Liberty International Airport around 2 p.m. FAA said that the Boeing 767-400 was safely landed and had arrived from Venice, Italy. A spokesperson for United said that "our maintenance team is evaluating damage to aircraft." Our crew was removed from service in order to conduct a thorough flight safety investigation. According to the?Port Authority, no injuries on board were reported. Minor damage was also observed. According to a spokesperson, airport staff checked the runway for debris and quickly returned normal operations. The Port Authority reported that the tractor?trailer's driver, who suffered minor injuries, was transported to the hospital and released. The FAA and the National?Transportation?Safety Board?have said they will investigate this incident. Reporting by Doyinsola Oladipo, Washington; additional reporting by David Shepardson. Editing by Nick Zieminski.
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United Airlines plane strikes light pole at Newark Airport
According to the Port Authority of New York & 'New Jersey, a United Airlines aircraft struck a light post on its final descent into Newark International Airport on Sunday. The damage caused to the pole and to a tractor-trailer traveling along the highway nearby. United Airlines Flight 169?hit a light post on the New Jersey Turnpike at around 2:00 p.m. while on approach to landing at?Newark Liberty International Airport. This was according to the 'Federal Aviation Administration. FAA reported that the?Boeing 777 landed safely after arriving from Venice, Italy. Port Authority said that no injuries had been reported and minor damage was noted to the aircraft. According to a spokesperson, airport staff checked the runway for debris. Normal operations were quickly resumed. The driver of the tractor trailer was taken to hospital with minor injuries. He has since been discharged. The FAA announced that it would investigate the incident. United did not immediately respond to a comment request.
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WHO confirms three deaths and one case of Hantavirus on an Atlantic cruise ship
The World Health Organization announced on Sunday that three people?died? and one case of the hantavirus was confirmed among passengers aboard a cruise ship?sailing on the 'Atlantic Ocean. In a posting on?X, the company said that six people were affected by the incident. Three of them have died, and one is currently in intensive care. WHO has not named the vessel, or its operator. However, a source who is familiar with the situation says it's the MV Hondius travelling from Argentina towards Cape Verde. The WHO stated that it would facilitate coordination between member states and the ship operators to ensure the medical evacuation of two symptomatic passengers as well as the full assessment of public health risks and support for the other passengers aboard. The Dutch Foreign Ministry confirmed the deaths of two Dutch passengers, but did not provide any further details. Sky News reported a British visitor was being treated at a South African hospital?after a suspected hantavirus infection, citing South Africa’s Department of?Health. The report also quoted the British Foreign Office, which said it was closely tracking reports of "a potential hantavirus infection on the Hondius" and was in contact with local authorities and the cruise line. The British Foreign Office and South Africa's Department of Health have not responded to requests for comments. Reporting by Chandni in Bengaluru, Additional reporting by Charlotte Van Campenhout, Mihika Sharma and Edmund Klamann.
Oman's OQ to list up to 49% stake in methanol, ammonia and LPG arm
Oman's OQ Base Industries ( OQBI), the methanol, ammonia and liquefied petroleum gas (LPG). arm of stateowned OQ, plans to note an as much as 49% stake on the. regional stock market, it stated on Monday, adding to a string of. IPOs in the Gulf nation.
The listing belongs to a privatisation programme by. state-owned energy group OQ, which is assisting Oman - a little. non-OPEC oil producer - to diversify its economy and cut its. debt.
OQBI's plans follow the flotations of OQ's exploration and. production organization, which raised about $2 billion. last month in the biggest IPO ever in Oman - in addition to OQ's. pipeline service and oil and gas drilling arm Abraj. Energy Provider in 2015.
Based in Salalah, home to Oman's biggest port, OQBI runs. three strategic departments: methanol, ammonia and LPG products.
Methanol is a lower-carbon fuel while ammonia is generally used. in fertilisers and chemicals. LPG includes propane, butane, and. cooking gas, which are utilized as fuel for automobiles, heating and to. produce other petrochemicals.
The company said in a statement on Monday that it anticipates to. pay a dividend of 32.7 million Omani riyals ($ 85 million) for. 2024 and distribute a dividend a minimum of 5% greater than this. year's payment for 2025 and 2026.
It published revenue of $510 million and an adjusted core. earnings margin of 43.1% last year.
OQBI said that all of the earnings from the offering will be. distributed to the offering investors, which comprise OQ and. its units Takamul Investment firm and OQ Salalah Industries. Business.
The membership duration for the IPO is anticipated to begin. this month and shares are expected to start trading on the. Muscat stock market in December.
Morgan Stanley, Bank Dhofar and Bank Muscat were designated. joint worldwide organizers for the IPO, it stated.
(source: Reuters)