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Iranian firm offers to purchase minority shareholders in Russian Caspian Port Terminal
The company's Tuesday records revealed that Nasim Bahr Kish (an Iranian firm) which holds a controlling interest in Russia's Astrakhan Port has made an offer to buy the remaining shares. This includes a 25% share owned by the Russian government. Astrakhan Port is a port in Astrakhan, a city located in southern Russia. This move highlights Tehran's growing involvement in Russia’s export infrastructure, as both countries strengthen their economic ties while under Western sanctions. Kommersant, a Russian newspaper, broke the news first. The Iranian firm would gain full control of one of the most important Caspian Sea Terminals used to transship grain, metals and timber. The terminal handled approximately 275,000 tons of grain in the agricultural season 2023/2024. However, volumes have dropped to 139.500 tons this season with no shipments made in May. Transporting Russian grain from Russia to Iran has been done by the Caspian Sea for centuries. The route saw a sharp decline in grain shipments in the second half 2025, due to the temporary Russian export ban of barley and maize. Analysts expect the agricultural season 2025/2026 to rebound, in part due to the crop loss in Iran in this year.
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Sources say that a limpet mine could have damaged a Greek tanker near Libya in the latest unaccounted for attack.
Sources in maritime security said that a limpet mine could have been responsible for the blast which damaged a Greek oil tanker off the coast of Libya last week. This is the fifth incident in recent months to affect commercial shipping in this region. On Monday, TMS, the Greece-based operator of the Marshall Islands flag tanker Vilamoura, said that the explosion occurred in the engine-room of the vessel as it was leaving the Libyan port Zuetina to head to Gibraltar on 27 June with 1,000,000 barrels of oil. Four maritime security sources stated that a limpet-mine was the likely cause of this explosion, according to their initial assessments. An informed company representative said that TMS would not be able to determine the cause of the explosion until the ship arrived in Greece on Tuesday, or July 2. MarineTraffic's platform, which tracks ships, showed Tuesday that the tanker's final position was near Greece's south coast. TMS said in a Monday statement that the ship's engine was flooded by the explosion and it lost its maneuverability. However, the vessel was still able to tow towards Greece. MarineTraffic's data shows that the vessel made two stops at ports in Russia, including Ust-Luga on the Baltic Sea and Novorossiysk on Russia's Black Sea. In a recent report, Dryad Global, a British company that provides maritime cyber-defence and risk intelligence, said: "Investigations on the suspected limpet mining attacks on tankers are all linked to recent port visits at Russian ports. This indicates a targeted attack against vessels involved in Russian Oil Trade, probably driven by geopolitical pressures around Western sanctions." The West has imposed sanctions on Russia for its involvement in the war in Ukraine. Separately, the Group of Seven major countries capped oil exports from Moscow at $60 per barrel. In January and February of this year, three oil tankers were damaged in separate incidents by explosions around the Mediterranean. The causes are unknown. These are the first incidents involving non-military ships that have occurred in the central Mediterranean region for many decades. In February, a fifth tanker was damaged by explosions while anchored in Ust-Luga. This prompted divers in Russian ports to search for mines. Reporting by Jonathan Saul and Renee Maltezou; editing by Mark Heinrich
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Airline SAS buys up to 55 Embraer aircraft in a deal worth $4 billion
Scandinavian Airline SAS announced on Tuesday that it had agreed to purchase up to 55 aircraft in Brazil from Embraer, in a deal valued at around $4 billion. This does not include the rights to purchase. Anko Van der Werff, CEO of SAS, told reporters in Copenhagen that the airline has signed a deal with a firm commitment to buy 45 E195E2 aircraft. An option for an additional 10 is also available. Scandinavia's largest carrier announced in a press release that deliveries will begin late in 2027. The aircraft's size and range were deemed to be ideal for complementing SAS' existing fleet, route structure and allowing more frequencies, greater network flexibility and lower trip cost. The E195E2 is an aircraft that can seat up to 146 people. It is the largest regional jet in Embraer's fleet and competes against the Airbus A220 which was developed originally in Canada. Both models are in a market segment for commercial passenger aircraft below that dominated by Airbus or Boeing, but they face a fierce rivalry. The SAS deal comes after Embraer suffered a blow earlier in the month when Airbus secured a historic order from Polish national airline LOT for 40 A220 aircraft. (Reporting and editing by Louise Breusch Rasmussen, Emelia Sithole Matarise, and Stine Jacobsen)
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Middle East flights suspended by airlines
After the 12-day war between Iran and Israel, which ended last week with a ceasefire brokered by the United States, many airline services are still disrupted throughout the Middle East. Safety concerns and airspace closures continue to impact airline traffic in the area. Here are some airlines that have cancelled flights from and to the region. AEGEAN AIRLINES The Greek airline has cancelled flights to Tel Aviv and Beirut as well as to Amman, Erbil, and Amman, up until the early flight on September 8th. AIR ARABIA Starting on July 10, the UAE low-cost carrier will resume flights to Damascus. AIRBALTIC AirBaltic, a Latvian airline, announced that it had cancelled all flights from and to Tel Aviv up until September 30. AIR CANADA The Canadian carrier suspends its flights between Toronto and Dubai until the 4th of August. The Canadian carrier had already delayed the resumption to service between Canada and Israel until September 8. AIR EUROPA The Spanish airline announced that it had cancelled all flights from and to Tel Aviv up until the 13th of July. The airline will fly Mondays, Tuesdays, Thursdays, Sundays and Wednesdays from July 14 until July 31. From August 1, it will fly every day except Saturdays. AIR FRANCE-KLM From July 7, the French flag carrier will resume its flights between Paris-Charles de Gaulle Airport and Tel Aviv. KLM, the Dutch subsidiary of the group, said that it would cancel all flights to or from Tel Aviv up until July 31. DELTA AIR LINES Travel to, from, or through Tel Aviv could be affected between June 12 and July 31. EL AL ISRAEL AIRLINES The Israeli airline reported that flights operated as planned on July 1. Only a few flights were cancelled. EMIRATES Emirates announced that all flights from and to Tehran had been cancelled through July 5. Baghdad operations will resume on July 1, and Basra operations on July 2. FINNAIR The Finnish airline announced that it would resume flights to Doha on July 1. FLYDUBAI The UAE airline announced that it has resumed full operation across its entire network. Flights to Iran are suspended, except for Mashhad. This suspension will last until July 5. British Airways, owned by IAG, has suspended its flights from Tel Aviv until the 31st of July. Iberia Express is IAG's low cost airline. It has cancelled all flights to Tel Aviv up until October 25, 2010. ITA AIRWAYS Italian Airlines announced that it will extend the suspension of Tel Aviv flight until July 31. This includes two flights scheduled for August 1. JAPAN AIRLINES On July 2, the Japanese carrier will resume operations in Qatar. It will depart from Tokyo Haneda and fly to Doha. LUFTHANSA GROUP Lufthansa has announced that all flights from and to Tel Aviv, Tehran and other cities have been suspended until July 31. Amman flights are being cancelled until July 11. PEGASUS Turkish Airlines has cancelled all flights to Iran, Iraq, Lebanon, and Jordan until the 7th of July. QATAR AIRWAYS Qatar Airways will resume its flights to Baghdad on June 30, Erbil on July 1, Sulaymaniyah, Najaf and Basra starting July 2, Basra beginning July 3, and Damascus commencing July 6. The full schedule will be resumed to Amman and Beirut from July 1. Flights to Iran are temporarily suspended. RYANAIR Ryanair has cancelled all flights from and to Tel Aviv, and Amman until the 25th of October. UNITED AIRLINES According to the U.S. airline, travel from and to Tel Aviv could be affected between June 13, and August 1, 2013. There may be problems with flights to and from Dubai between June 18th and July 3th. WIZZ AIR The Hungarian carrier said that it would suspend its flights to and from Tel Aviv, Amman and Jordan until September 15. (Reporting and editing by Bureaus: compiled by Agnieszka Olesnka, Elviira Loma, and Tiago Brancao; Editing by Matt Scuffham and Alison Williams, Milla Nissi Prrussak, Alison Williams, and Milla Olenska)
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Is the escalating spat between Trump and Musk a regulatory threat to Musk's businesses?
Donald Trump, the U.S. president, called on Tuesday for a review to be conducted of the subsidies given to Elon Musk’s companies. This sparked fears that the billionaire’s businesses in the sectors of transportation, energy, and space would face a more rigorous regulatory scrutiny. The list below includes the U.S. regulatory agencies that oversee Musk's businesses, such as Tesla, SpaceX (a rocket and satellite company), Neuralink (a brain implant company), X social media platform, and The Boring Company, whose construction company is The Boring Company. National Highway Traffic Safety Administration Tesla is constantly under scrutiny by U.S. auto investigators regarding the safety of their vehicles, especially when they use advanced driver assistance systems. The regulator requested more information from Tesla last month after viewing online videos showing a robotaxi allegedly driving in the wrong lane, and another driverless car speeding. This was shortly after Tesla had launched a limited robotaxi service for a fee in Austin, Texas. The agency is currently reviewing responses to questions it has asked about safety of robotaxis in bad weather, among other issues. Since October, the NHTSA is investigating Tesla's self-driving car collisions on roads with reduced visibility. Federal Communications Commission In April, the Federal Communications Commission voted to review a decades-old regime of spectrum sharing between satellite systems that SpaceX had requested. SpaceX is seeking new spectrum in the next few years from the FCC to accelerate the deployment of satellite internet service. The U.S. Telecom regulator's review aims to permit a greater and intensive use of spectrum in space activities. The 1990s-era power reductions have limited the use of spectrum, preventing better coverage by SpaceX's Starlink system and other systems. Food and Drug Administration The FDA is responsible for overseeing the clinical trials of Neuralink - Musk's brain implants company. It decides whether these trials can be conducted and whether Neuralink will eventually be able to sell its product to consumers. The FDA has already approved these trials in the U.S. Neuralink is also pursuing clinical tests outside of the U.S., including Canada. FDA initially denied Neuralink's request for clinical trials due to safety concerns, which were reported in 2023. Since then, the FDA has given Neuralink approval to conduct clinical trials. These are currently ongoing. Environmental Protection Agency SpaceX is subject to environmental regulations by the EPA which supervises its wastewater discharges in Texas. The National Environmental Policy Act also requires that the company's operations be subject to an environmental review. Several agencies, including the Fish and Wildlife Service, are required to evaluate the impact of its rocket launches and landings, on land, water and animals. Federal Aviation Administration In September, FAA proposed that SpaceX be fined $633,000 for failing to comply with license requirements before two 2023 launches. This investigation is still ongoing. After a series explosions, the FAA may also impose additional restrictions or scrutiny. Securities and Exchange Commission Musk has been involved in litigation with SEC regarding his takeover of Twitter 2022. Musk will now respond to these allegations this month. According to a letter Musk's attorney posted on the social media platform X in December, the regulator had also opened an investigation into Neuralink. Federal Trade Commission The FTC protects consumers by ensuring that social media platforms like Musk's Platform X respect children's privacy, and secure Americans' data. The FTC which enforces antitrust laws also opened a recent investigation into the coordination between media watchdogs, of which Musk accused some of orchestrating a group advertiser boycott of his social media website.
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Heatwave in Europe forces France to close schools and Italy to limit outdoor work
France closed scores of schools, and Spain announced that last month was its hottest ever June as a severe, heatwave gripped Europe. The heatwave was blamed by trade unions for the death of a 47 year old man who died on a building site near Bologna on Monday. According to the EU's Copernicus Climate Change Service (CCS), Europe is the fastest-warming continent in the world. Extreme heatwaves occurred earlier in the year and continued into the later months. Clare Nullis, spokesperson for the World Meteorological Organization, said: "What makes this year exceptional is not only that it is a unique time of year but also its exceptionality." "We're in July, and we're experiencing extreme heat that we normally see later in the summer," said World Meteorological Organization spokesperson Clare Nullis. She said that higher temperatures in the Mediterranean Sea tend to "intensify the extreme temperatures on land areas." A heat dome above Europe trapped hot air, causing the Mediterranean Sea to be up to 6 degrees Celsius warmter than normal for this time of year. The Spanish Balearic Sea reached a record high of 30 C (86 F), according to the AEMET weather forecaster. AEMET reported that Spain had its hottest June ever last month with an average temperature 23.6 C. Tommaso Della Longa said that the IFRC has established a "climate shelter" to help residents deal with the scorching temperatures in southern Malaga. Swiss Re estimates that extreme heat kills 480,000 people per year around the globe. This is more than the combined death toll of floods, earthquakes, and hurricanes. HEALTH ALERT Meteo France, a weather forecaster, said that temperatures in France would peak on Tuesday. In some places, they will reach 40-41 C, while in others, 36-39 C. 16 departments will be at the highest alert level from noon onwards, while 68 are on the second-highest. The Education Ministry reported that 1,350 schools are closed or partially shut down, compared to 200 around Monday. Visitors are advised to drink lots of water as the top floor of Eiffel Tower is closed on Tuesdays and Wednesdays. Italy issued heatwave alerts in 17 cities including Milan and Rome. News agencies reported that a 53 year-old woman in Sicily with a heart problem died walking through the city of Bagheria. It is possible she suffered heatstroke. Scientists believe that greenhouse gas emissions caused by burning fossil fuels is a major cause of climate changes. Deforestation, industrial practices and other factors also contribute to this. The planet experienced its hottest year ever in 2018. We hear about climate change all the time. Omar Bah of a London rental company said, "I think we feel it now." Tourists in Europe also looked for ways to stay cool. Susana Leivonen (45), a Finnish woman, said that she woke up early to leave as soon as possible. This allowed her and her family time to rest in the afternoon. The family was prepared with sun lotion and water, and they planned to take a break in the shops or have an afternoon nap. As France, Europe's largest grain producer, begins harvesting its crop this year, scorching temperatures are increasing the risk of fire. Many farmers work through the night in order to avoid the peak temperatures during the afternoon. (Additional reporting from Emma Farge; Kate Abnett; Gus Trompiz; Rachel More; Sudip Kar Gupta; Alvise Armellini. Writing by Ingrid Melander. Editing by Bernadettebaum)
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Maguire: US power pollution increases with increased coal use
The U.S. power industry has already reached its highest level in three years. However, emissions will continue to rise during the summer peak months due to increased use of air conditioners and coal and gas plants. According to Ember, the U.S. power industry's emissions due to the burning of fossil energy increased by 5% in the first five month of 2025 to 640 millions metric tons. As gas prices have risen, power companies have reduced their natural gas usage. This has led to a 32 million ton increase in emissions. The increased use of air conditioners in homes and offices has led to a rise in electricity demand. These higher generation trends, in turn, will further increase the total pollution levels of the power sector even though electricity production from renewable sources like solar farms has reached record highs. COAL-HEAVY According to LSEG, the coal-fired electricity generation in the United States increased by 14% compared to the same period of 2024. This equates to 14,9 million megawatt hours. The main driver of this increase in coal usage was the steep rise in natural gas prices during the first quarter of the current year. This increased cost pressure for utilities and encouraged them to use cheaper coal in their generation mix. LSEG data indicates that Henry Hub natural Gas Futures, the main benchmark for U.S. Natural Gas, have averaged $3.53 per BTU (million British thermal units) this year. This compares with an average price of $2.15 BTU in the first half 2024. According to LSEG, the gas-fired electricity production from January to June decreased by 4.2%, to 31.8 millions MWh. The U.S.'s higher percentage of coal-fired power in the generation mix has a major impact on emissions. According to Ember, coal-fired power plants emit approximately 950,000 metric tonnes of carbon dioxide for every terawatt of electricity produced. This compares to about 540,000 tons CO2 per TWh for gas-fired power plants. It explains why fossil fuel energy output has risen much more than overall fossil fuel emission this year. Peak Period There are two distinct peak times of electricity use in the U.S. every year: heating in winter and cooling in summer. Since more than a decade now, the amount of power used in the summer is greater than the amount needed for heating. This is because air conditioners use more electricity. The trend is expected to continue this year after the U.S. experienced record-breaking heatwaves in the second half of June. Further hot spells are predicted for July, August, and September. In order to meet this increase in electricity demand, utilities will require more power from all sources of production, but particularly from fossil fuels, which is needed to cover the majority of system usage at night, when solar generation ceases. Gas prices are still well above the levels of last year, so most power plants will continue to prefer coal over gas. This will lead to a new rise in power emissions. They are already at the highest level since 2022, and they are on track to reach their annual peak during the next few months as the power companies use all their power to meet the demand. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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France closes schools due to heatwave that grips Europe and sea temperatures near Spain record high
As a severe heatwave continues to grip Europe and trigger health alerts throughout the region, more than 1,000 schools in France were closed on Tuesday. The top floor of the Eiffel tower was also closed to tourists. A heat dome above Europe trapped hot air, and the Mediterranean Sea was 6 degrees Celsius warmter than normal for this time of year. The Balearic Sea in Spain reached a record high of 30 C (86 F). According to the EU's Copernicus Climate Change Service (CCS), Europe is the fastest-warming continent in the world, with temperatures rising twice as fast as the global average. Extreme heatwaves are therefore more likely to occur earlier in the calendar year and continue into the later months. Meteo France, a weather forecaster, said that the temperature in France was expected to reach its peak on Tuesday. It will be between 40 and 41 C in certain areas, while 36-39 C is more common in others. 16 departments will be at the highest alert level from noon onwards, while 68 are on the second-highest. The Education Ministry announced that 1,350 schools would be closed or partially shut down due to heat. This is a significant increase from the 200 schools that were closed on Monday. Visitors are advised to drink lots of water as the top floor of Eiffel Tower is closed on Tuesday and Thursday. As farmers in France, Europe's largest grain producer, begin harvesting the crop for this year, they are also at risk of fires. Some farmers worked through the night in order to avoid harvesting at the peak of the afternoon heat. In central France's Indre, where a number of fires have been reported since late June due to the hot weather, field work was banned between 2 pm and 6 pm. HEALTH ALERT Some experts have said that the intense heat can harm biodiversity. In the past, we've seen mass mortality of invertebrate and seagrass species as well as disease outbreaks on mussel farms. Scientist Kathryn Smith of the Marine Biological Association of the United Kingdom said that it's likely we'll experience similar effects from this event. Residents and tourists in Europe are looking for ways to stay cool. Swiss Re estimates that extreme heat kills 480,000 people per year around the globe. This is more than the combined death toll of floods, earthquakes, and hurricanes. Residents of a Grimbergen retirement home, Belgium, passed a ball between themselves in a paddling-pool. Marie-Jeanne Olbrechts said, "To me, it's an amazing activity." DGG, the association for geriatrics in Germany, said that most regions were not prepared adequately for a heatwave. Clemens Bäcker, the author of the study done for the DGG, said that if they were implemented, it could save tens and thousands of lives in the future. Scientists believe that greenhouse gas emissions caused by burning fossil fuels is a major cause of climate changes. Deforestation, industrial practices and other factors also contribute to this. The planet experienced its hottest year ever in 2018. (Additional reporting from Kate Abnett and Gus Trompiz; editing by Bernadettebaum)
China regulator approves ANA Holdings takeover of Nippon Cargo, but with conditions
China's market regulator announced on Tuesday that it had approved ANA Holdings Inc.'s acquisition Nippon Cargo Airlines with conditions. These included a number of binding commitments in order to maintain fair competition in China-Japan's air cargo market.
After multiple delays, the Chinese regulator has approved ANA's purchase of NCA, Japan's biggest airline. The acquisition will bolster its international cargo operations.
The State Administration for Market Regulation issued a statement in which it stated that ANA, NCA, and the merged entity were required to continue to adhere by existing agreements for ground handling of cargo at Tokyo Narita Airport and Osaka Kansai Airport.
The regulator stated that the decision was taken to safeguard regional industrial and supply chain stability and ensure smooth bilateral trade, and to ensure the smooth running of bilateral trade.
ANA, Japan's biggest shipping line, will acquire NCA, the current parent Nippon Yusen KK on August 1 after receiving the green light from Chinese authorities.
ANA announced its plan to purchase NCA by 2023, but it has delayed the execution of the acquisition eight times. The most recent delay was last Wednesday.
The Japan Fair Trade Commission (JFTC), the country's market regulator, approved the takeover in January. Reporting by Ethan Wang in Beijing, Kantaro Komiya in Tokyo and Joe Bavier in London; editing by David Evans and Joe Bavier
(source: Reuters)