Latest News
-
Officials say that high winds can make it harder to fight wildfires in Spain
The Interior Ministry has warned that winds will increase in Spain on Saturday with gusts up to 60 km/h (38 mph). This could complicate the battle against wildfires out of control west of Madrid. On Friday, two separate wildfires in Madrid combined and became a single large blaze. However, they haven't yet merged with a fire in Avila in the neighboring Castilla y Leon area. More than 30,000 people have fled their homes in the Madrid region, and more than 20,000 are being confined to their homes, according to the Ministry of Interior on Saturday. Officials called it the worst fire ever recorded in the region. The overnight weather conditions helped the firefighters. The central government in Madrid announced on Saturday that the change in weather (less wind and higher humidity) had a 'greatly beneficial effect' in the fight against forest fires. Smoke plumes could be seen?west of the Capital. Authorities have said that more than 9,000 hectares of land has been affected by the wildfires which have raged in the Madrid area.
-
Saudi Arabia and Houthis fire at each other as air defences intercept an attack on a refinery
Greek security sources said that air defence systems in Saudi Arabia intercepted on Saturday two ballistic missiles fired from Yemen, which were aimed at oil refineries in Yanbu. This was as Saudi Arabia and the Iran-aligned Houthis traded fire in the new front of the Iran War. The coalition led by Saudi Arabia in Yemen announced late on Friday that it had hit Houthi military bases in the port of Hodeidah in connection with attacks against shipping by the group. This group has declared a maritime blockade on Saudi Arabia. Abdul Malik al-Houthi, the leader of the Houthi group, said that if Riyadh intensified its involvement in this conflict then all Saudi oil facilities and other important infrastructures would be targeted by the group’s drones and missiles. Saudi Civil Defense (the state's emergency service) had issued warnings for Yanbu on the Red Sea and later announced that the danger was over. Civil Defense issued an alert for Jizan port city, which is home to a 400,000 barrels per day oil refinery. Aramco, the Saudi state oil company, did not comment on these incidents. A video was shared on social media that showed a column of smoke rising in the direction of Jizan's Saudi Aramco Refinery. Two Asia-based traders said they were informed about some damage on the site. In the years prior to 2022, the Houthis attacked both Yanbu & Jizan before striking a U.N. mediated ceasefire with Saudi Arabia that held until this month. In 2019, they claimed responsibility for the attacks on two Saudi oil installations that temporarily shut down more than half of Saudi Arabia's crude production. GREEK-OPERATED AERIAL DEFENCES Sources said that Greek military personnel operated the defence system which intercepted missiles on the morning of Saturday. Greece has been deploying a Patriot air defence system, made by the United States, in Saudi Arabia under an agreement since 2021 to protect the energy infrastructure of the kingdom. Donald Trump, the U.S. president, promised "major military sanctions" against Iran and its Houthi partners in Yemen on Friday after the Houthis claimed they had attacked two Saudi oil tankers on Thursday in the Red Sea. The Houthi blockade of the Strait of Hormuz threatens to disrupt the flow of millions of barrels of crude oil per day that Iran blocks almost completely. The Saudi-led alliance said that it would take the necessary steps to protect its ships and Saudi Arabian interests and would react "uncompromisingly", if Houthis continue hostile actions. Yemen's Houthi foreign ministry claimed that the strikes on Hodeidah were the "start of an escalation phase" and blamed Saudi Arabia for any developments. Al Masirah TV, a Houthi-affiliated channel, said that Saudi airstrikes hit state-owned telecommunications facilities in Hodeidah. The broadcaster?also claimed that Saudi forces attacked Kamaran Island off Yemen's west coast. Saudi Arabia waged a seven-year conflict in Yemen that began?in 2015. The Houthi movement had seized the capital city and driven the internationally recognized government from power. In 2022, a truce halted the majority of major fighting that had killed hundreds of thousands?of people through violence and hunger. The Houthi's targeting of an airport in Saudi Arabia on July 13, and the naval blockade, have undermined the truce. The Houthis claimed that the airport attack was in response to an attack by Saudi Arabia on an airport they controlled and that the blockade of the navy was a reaction to the Saudi siege against Yemen, something Saudi Arabia denies.
-
Kuwait's KPC signs a $16 billion lease-and-leaseback agreement with Blackstone, KKR and Brookfield to build an oil pipeline network
Kuwait?Petroleum Corporation has announced a deal worth $16?billion for its crude oil pipeline?network. The consortium includes global?funds Blackstone Brookfield and KKR. The largest foreign direct investment ever made in the history of the country. Kuwait Oil Company, a unit of KPC, is establishing a joint-venture with three U.S. investors in a lease-and-leaseback structure over a 20-year period that includes a tariff based on volume, KPC said in a press release. The deal is part of an effort by Gulf State oil companies and investors to attract foreign capital and raise funds through infrastructure assets, in order to finance domestic investment plans. Blackstone, Brookfield, and KKR collectively will hold a 49% stake, while 'KOC' will retain a 51% share, as well as the full ownership and control of the network. The network consists of 13 pipelines spanning a distance of 320 kilometres. The transaction is expected to generate $7.85 billion upfront proceeds at closing. Reporting by Federico Maccioni and Ahmed Elimam; Editing and production by Kim Coghill, Susan Fenton and Susan Fenton
-
Modi is under pressure from youth protest leaders to continue talks with him
The Indian government is set to start a new round of talks with Gen-Z protesters on Saturday. This week's disruptions in Delhi were caused by the demonstrators who are demanding the resignation of the education minister. Opposition parties disrupted the monsoon session of parliament that started this week, echoing their demands. The authorities were trying to restrict access to the protest area, but thousands of Cockroach Janata Party supporters rallied in central Delhi on the fourth day despite the closure of 18 metro stations. Ashutosh Ranka is the national spokesperson for the party. Students want Dharmendra Pradhan to take responsibility for the flaws of the examination system. Will the government ask for his resignation or not?" "We want to know if the answer is yes or no." The anger has been boiling over ever since the police cracked down on Monday. They injured a number of students with baton charges, and then fired tear gas in an attempt to dissuade tens or thousands of protesters from marching towards parliament. The protests are primarily led by young people and reflect their anger about the lack of jobs, corruption, and accountability by government. They have grown since they were sparked by the discontent caused by leaks of questions for high-stakes exams. Saurav Das, Ashutosh Ranka, and other party representatives warned federal ministers J.P. Nadda & Jitendra Singh that protests would spread if Pradhan did not step down. These talks took place just hours after Sonam Wangchuk, an activist who had been on a 26-day hunger strike, ended it. This raised hopes of a breakthrough. Two anonymous sources confirmed that the government had extended its mobile internet shutdown in the area to?the fifth consecutive day on Saturday. Protesters expressed frustration at the prolonged shutdown, but pledged to?not let it weaken their movements. What will they achieve if they shut down the internet, buses and metros? Nothing. "People who want to participate in the protest will come," said Rahul, a 34-year old protester. Leaked question papers for medical school entrance exams sparked protests, forcing more than 2,000,000 candidates to retake the tests. This exposed flaws in the educational system. The protesters want the resignation of the education minister and major exam reforms. (Reporting and editing by Clarence Fernandez in New Delhi, Saurabh Bhawika Chhabra)
-
US to rebate $2.2 billion to airlines retrofitting planes against wireless interference
The Federal Aviation Administration announced on Friday that major U.S. carriers would need to retrofit their planes to prevent wireless interference by the year 2030. However, they could be eligible for government rebates of up to $2.2 billion to cover these costs. The FAA has mandated that all altimeters must meet the next-generation performance standards to combat interference from 5G spectrum signals, which could lead to 'inaccurate readings. The government will fund the rebates with some of the proceeds from the Federal Communications Commission's C-Band Wireless Auction. The FAA estimates that the cost per aircraft will range from $80,000 to $120,00. The FAA estimates that the total retrofitting cost for civilian aircraft could reach up to $7 billion. FAA: The 2030 deadline applies to "flights of 'the major domestic and foreign airlines, which affect the flying public. They have the highest expectations of safety. They perform a majority of low visibility operations that would be otherwise restricted in order to protect against hazardous interference." Rebates will not be available to foreign operators. FAA requirements are only applicable to aircraft flying in U.S. Airspace. Brendan Carr, FCC chairperson, said that this week the FAA and the FCC would "jointly provide for the upgrading of radio altimeters" and offer'rebates to support eligible domestic aircraft owners and operators in this effort. There were some brief disruptions in 2022 at certain?U.S. Airports were closed as some international carriers cancelled flights due to 'concerns about 5G interfering with plane altimeters. These devices provide information on the height of a plane above?ground, and are vital for bad weather landings. After a voluntary agreement between Verizon, AT&T, and major airlines, the issue was resolved. However, there were still other issues as air carriers worked to upgrade their altimeters. (Reporting and editing by David Shepardson)
-
Ukrainians support ousted defence ministry as political crisis intensifies
After a poorly explained government reshuffle erupted into a political crisis, protesters in Kyiv announced a rally that would last until the end of time. They demanded that Volodymyr Zelenskiy reappoint Mykhailo Fedorov as defence minister. The protest reached its peak last week when thousands of angry Ukrainians marched to demand the reinstatement of Fedorov and the dismissal of Oleksandr Syrskyi as commander-in chief. Syrskyi was accused by some of disregarding soldiers' lives and delaying army modernisation. Hundreds of protesters gathered outside the president's office Friday, even though Zelenskiy had replaced Syrskyi by respected commander Mykhailo Drapatyi. They chanted "We stood, we stand and we will continue to stand." Dmytro Koziatynskyi is a veteran of the military and a protest organizer. He believes that people are ready to continue "for as long as it takes". Zelenskiy had previously claimed that Fedorov was dismissed due to an irreparable conflict with Syrskyi. He then offered him a variety of roles, such as vice-prime minister for innovation in defence. A 35-year old man credited for cleaning up the ministry of defence?publicly rejected the offer. Fedorov claimed that none of the positions had the authority to implement 'necessary reforms. "We don?t need Fedorov only as a figurehead. Fedorov is needed as a reformer. Unfortunately, the positions offered by the President do not have enough influence to push reforms forward. STOLEN HOPE The cardboard signs, a DIY tool that became a symbol for the protest read: "Bring Fedorov Back", "I'm here for those who support me there", a reference to the?servicemen in the frontline and "Fedorov as defence minister". One said, "Let your manager handle it". Many praise Fedorov for his efforts to tackle corruption in the defense sector, as well as for Ukraine's recent victories in the war against Russia. His dismissal occurred just as his troops were battling for the upper hand and conducting strikes against military and energy targets deep within Russian territory. Ukraine is still vulnerable to the deadly Russian air attacks and frontline assaults. Anna, who was displeased with Fedorov's dismissal, said: "They have stolen the hope of people and they have stolen results." Zelenskiy, fearing a backlash, has not yet sought parliamentary approval for his candidacy to succeed Fedorov who only led the ministry for half a year. Yevhenii Khmara was named as the?acting Minister. He was previously acting head of Ukraine's internal security service. Anna stated that they did not have the extra six months needed to form a new team or implement new reforms. She also said that Khmara was an effective official. (Reporting and editing by Yuliia Dyesa)
-
Indian Embassy reports that a tanker with a Mozambique flag was attacked in Iranian waters.
The Indian embassy in Tehran reported that a tanker flying the flag of Mozambique and carrying 28 Indian crew members was attacked on Friday in Iranian territorial waters. In a statement?posted to X, the embassy said that all Indian crew members were safe and they are in contact with?authorities. Disha was attacked by an unknown missile while en route to the Persian Gulf, according to the Forward Seamen's Union of India. Before the conflict in Iran, the Strait of Hormuz was a major transit route for a fifth of all global energy supplies. Since a fragile ceasefire between Washington and Tehran broke down in early July tensions have escalated, leading to heavy strikes and further disruption of shipping through the waterway. (Reporting by Hyunsu Yim in Barcelona; Editing by Sanjeev Miglani)
-
Beumer sues EU antitrust regulators over Vanderlande, Siemens deal, court filing shows
A court filing seen by revealed that the German logistics group Beumer Group has taken EU antitrust regulators 'to 'court' for refusing to investigate Dutch rival Vanderlandes' acquisition of Siemens' airport logistic 'unit'. Beumer was concerned when Siemens announced the EUR300m ($341.31m) deal with Dutch luggage conveyor belts and package-sorting systems Vanderlande owned by Japan's Toyota Industries two years ago. In March of this year, Vanderlande asked regulators in Portugal & Spain to approve the deal. These?countries and Italy then asked the European Commission (EC) to take on the case. In May, the EU's competition enforcer rejected these requests. The Commission stated that the requests were not "appropriate" for the EU, as the deal has been in place 'for more than one year. The Commission said that Portugal and Spain must continue to investigate the case as national agencies are regularly scrutinising the market. Beumer argued in court that the Commission had erred by failing to evaluate the deal. The company urged the court to void its decision. The Commission does not have the discretion to deny a request for a referral when it is obvious, on the basis of objective criteria that the national competition authorities (NCAs), who are requesting the referral, will be unable to effectively review the concentration. This was stated in the July 17 filing. Beumer stated that the EU's decision was also based upon criteria that were not legally relevant. A spokesperson for the Commission said, "As always, the Commission is?ready to defend its decisions in Court." The General Court in Luxembourg usually takes several years to hear a case.
United Airlines sees more powerful earnings, sets share buyback program
United Airlines on Tuesday forecast a strongerthanexpected earnings in the current quarter, after thirdquarter profits topped Wall Street price quotes on improved prices power.
In an indication of growing confidence in its service, the Chicago-based airline likewise announced a $1.5 billion share buyback program - its first since the COVID pandemic.
United stated it expects an adjusted earnings of $2.50-$ 3 per share in the quarter through December. Analysts expect the company to report a quarterly profit of $2.68 a share, according to LSEG data.
United reported adjusted revenues in the September quarter of $3.33 a share, compared with experts' expectations of $3.17.
The airline company said its domestic system revenue, a proxy for pricing power, turned favorable in August and September from a. year earlier.
An excess supply of airline company seats in the domestic market. during the summertime travel season had actually forced providers to discount. fares, injuring their earnings.
U.S. airline companies have actually moderated capability ever since. Yearly. domestic seat development has slowed to 1.5% in October and November. from 5.5% in July, according to experts at BofA.
As forecasted, ineffective capability left the market in. mid-August, and we saw a clear inflection point in our profits. patterns that moved United to surpass Q3 expectations,. United's CEO, Scott Kirby, stated in a declaration.
(source: Reuters)