Latest News
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Media report: Australia signs contract with Boeing to purchase six Ghost Bat drones as an initial order.
The Sydney Morning Herald reported that Australia will announce Tuesday that it has signed a contract worth A$1 billion (663,30 million dollars) with Boeing Australia for the production of six Ghost Bat air drones. The Australian Defence Force has said that the Ghost Bat, or MQ-28A, is a development aircraft designed by Boeing Australia and the first military aircraft to be designed in Australia for more than 50 year. The announcement coincides between talks between Australian Defence and Foreign Ministers and United States in Washington as the U.S. pushes its Indo Pacific allies to increase defence expenditure. Ghost Bat will have a maximum range of 3,700 km and is designed to be a partner to crewed Air Force platforms. Australia announced in October that it would invest A$1.7 billion (USD1.1 billion) to purchase a fleet "Ghost Shark", autonomous underwater vehicles developed by the Australian Defence Force and U.S. startup Anduril Industries. Australia's Defence Force has said that it would like to use autonomous technology in order to protect a large coastline, including up to 3,000,000 square kilometres of northern ocean.
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India's power ministry has said that it will not grant connectivity permissions to 6.3GW of clean energy projects after 2022.
The Indian federal transmission authority cancelled the transmission connectivity granted to developers for about 6.3 gigawatts in renewable energy capacity from 2022 onwards due to delays of projects, said the federal power ministry. The Central Transmission Utility of India Ltd. (CTUIL), the ministry stated, revoked 24 project holders' access after they failed meet their commissioning deadlines. Sixteen of these companies have challenged the Central Electricity Regulatory Commission's (CERC) decisions, seeking to protect their grid access approvals. The federal regulator of power in the country received several requests from companies to process claims for losses due to lack of transmission infrastructure. In October, the regulator admitted two petitions from renewable energy developers who sought compensation for losses due to delays in establishing transmission infrastructure. The Ministry of Power stated that the cancellations are not related to delays in transmission infrastructure. It also added that it does not reflect a lack of planning as India works towards its goal of installing non-fossil energy capacity of 500 gigawatts by 2030. CTUIL and Power Grid Corporation of India, (PGRD.NS), are jointly responsible for the establishment of transmission infrastructure in India for renewable energy. The power ministry reported that lines with a capacity of 172 GW renewable energy are currently being constructed. The ministry announced that bidding for 19 GW is currently underway. The federal government said that it is working with the states to accelerate intra-state transmission upgrades required to support 152GW of renewable energy projects.
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Sources say that the CPC pipeline in Kazakhstan will not be able to export its full capacity until December 11.
Two industry sources said that Kazakhstan's Caspian Pipeline Consortium will not be able to return to full capacity until December 11, after an Ukrainian drone attack damaged part of the terminal. A drone attack by the Ukrainian navy on Nov. 29 damaged the CPC terminal which is responsible for around 80% Kazakhstan's oil exports. This caused global oil prices to rise over $1 per barrel. The CPC, which is made up of Russian, Kazakh, and U.S. shareholders said that the attack temporarily halted operations due to serious damage to Single Point Mooring (SPM), which is a floating buoy used to connect to oil tankers at the Yuzhnaya Ozereevka Terminal in Novorossiysk. Three SPMs are located at the terminal, about 5 km (3.1 miles), from the shore. Two SPMs are usually loaded, and one is idle. SPM-1 is still operational. This means that CPC exports oil at about half its current capacity. SPM-3 is currently undergoing maintenance. This has been going on since mid-November. Five sources in the industry said that last week, CPC was aiming to finish repairs on SPM-3 before schedule. Due to the weather conditions and diving difficulties, two sources said on Monday that SPM-3 is not expected to return to full operation until December 11-13. CPC has declined to comment. Sources said that SPM-2 repairs may take several months. However, the exact timeframe for repair or replacement is still being assessed. CPC has already diverted a portion of its oil to other destinations such as the Baku, Tbilisi, and Ceyhan pipelines. However, the company does not have many options in rerouting the bulk of their oil. Reporting by Guy Faulconbridge; Editing by Bernadette and Guy Baum
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Tanzanians are urged to stay at home during expected protests on independence day
Tanzania's Prime Minister urged people on Tuesday to stay home, as activists called for protests in response to the violent suppression by government forces of anti-government demonstrations during October elections. According to the United Nations, hundreds of people are likely dead in these protests that were fueled by the exclusions of opposition candidates. The presidential election was won by President Samia Suluhu Hassan with almost 98% of the votes. The government acknowledged that people died, without revealing its own death count, but rejected claims that police used excessive violence. Mwigulu Nchemba, the Prime Minister of Tanzania, announced that there will be no official celebrations for this year's Independence Day. In a video posted Monday on the X account of the Government Information Centre, he urged the public to stay at home without mentioning the anticipated protests. He said that the government advised all citizens, who do not have a work-related emergency on December 9, to take the day off and enjoy it at home. Police said that Friday, any protest would be illegal as authorities have not received formal notification from the organisers. Witnesses reported that heavy police and military deployments were seen on Monday in Dar es Salaam, the northern city of Arusha and the commercial capital Dar es Salaam. Hassan appointed a commission for the investigation of election-related violence, but has denied repeatedly that security forces had acted inappropriately. He has also accused protesters to try to overthrow government. Last week, the United States announced that it would be reviewing its relationship to Tanzania due to concerns over violence against civilians and religious freedom as well as investment barriers. (Writing and editing by George Obulutsa, Peter Graff and Vincent Mumo Nzilani)
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Argentina's Railway Privatization Dreams Face a Long Road Ahead
Argentina, a global food supplier, is planning to boost its grain and mineral exports through privatization, and a modernization program of its railway network. Industry leaders claim that this will reduce freight costs in regions located far from ports by half. The first tender will be for the Belgrano Cargas, which runs the three biggest freight train lines in the country. The initiative, which will be launched in early 2019, could increase production of global commodities like soybeans and corn. It also includes copper and lithium. The project could also help transport sand from Vaca Muerta in Argentina's Southwest. The privatization of the network was part of Javier Milei’s plan to move struggling state-owned companies to private ownership and to attract investment in order to replenish depleted reserves after years of economic crises. LESS FREIGHT BY TRAIN THAN IN 1970 The railway system will face a huge challenge after decades of neglect. The volume of freight transported by train today is less than in 1970, despite the fact that agricultural production has almost doubled during the same time period, said Alejandro Nunez. Three lines, spanning nearly 8,000 km (5,000 miles), transport 7.5 million tonnes of cargo annually. 60% of that is agricultural products and derivatives. On some occasions, the trains are so slow on the dilapidated track that they can easily be hijacked. Derailments occur frequently. Further 11,000 km (6,800 mile) of line will be offered for tender. Currently, these lines are completely out of service. The majority of cargo is transported by road in Argentina. Rail freight accounts for only 5%, which is a tiny fraction compared to the 20% of cargo transported in Brazil or the 40% in the U.S. According to the Foreign Minister Pablo Quirno, improving the railways is vital for the government to achieve its goal of increasing annual exports to $100 billion within seven years. Argentina's total exports for this year are $71.5 billion. Privatization could help reduce the cost of transporting goods to and from the main ports in and around Rosario. According to Gustavo Idigoras of the grain export chamber CIARA CEC, transporting cargo from Salta in northern Argentina to Rosario costs more per ton than shipping it from Rosario directly to Vietnam. It will be expensive to upgrade the rails. Nunez estimated that an investment of $800 million was needed to upgrade infrastructure. Grupo Mexico transportes (GMXT), the company that operates Mexico's biggest rail network as well as several freight lines within the U.S. is a likely bidder, according to a source who has direct knowledge of the situation but declined to give their name. Source: GMXT will invest $3 billion if they win the tender due to the size of the upgrade required. According to local media, an agricultural consortium consisting of Bunge Global Inc., Cargill Inc. and Asociacion de Cooperativas Argentinas, as well as Aceitera General Deheza SA, has expressed interest in bidding. The companies' representatives declined to comment. EXPANDING FRONTIER Alfredo Sese is the technical secretary for the transportation commission of the Rosario Stock Exchange. He believes that lower freight costs can help to expand the agricultural frontier of the northern part of the country. Rosario is more than 300 km away from where at least half of Argentina’s agricultural production occurs. Sese estimates that a ton of goods transported by truck will cost between 7 and 9 cents per km, while rail transport costs less than five cents. A modernized railroad could be more beneficial to farms that are further away. The mining industry in Argentina could also be benefited. Argentina is the No. The country is the world's No. Roberto Cacciola is the president of Argentine Chamber of Mining Companies. He said that "the mining industry requires logistical solutions to allow it supply projects and move its production." (Reporting and additional reporting by Maximilian Heath, writing by Leila Mill, editing by Rosalba Gregorio and David Gregorio; Reporting by Lucila Sgal, Additional reporting by Maximilian Heath, Writing by Leila Mller
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IndiGo's meltdown brings India's airline industry into focus
Air India, SpiceJet and other airlines have come under the spotlight for introducing extra flights in response to a sudden increase in demand after IndiGo, a market leader cancelled flights due to sever crew shortages. This left thousands of passengers stranded. Here's a look at Indian Airlines by Numbers: INDIGO IndiGo, India's largest airline with a market-share of 65% at the end September and a fleet of 417 aircraft. There are more than 2,200 flights per day connecting 90 domestic and 41 foreign destinations. AIR INDIA The Air India Group has a combined 302 aircraft fleet, including 115 for its budget airline Air India Express. Air India is owned by India's Tata Group, and Singapore Airlines. It operates non-stop flights between 39 destinations on five continents. AKASA AIR Akasa, a relatively new airline in the Indian market, has a 5% share of the market, making it India’s third largest carrier. The airline has 30 aircraft. It also connects Indian cities with locations in the Middle East, including Jeddah and Riyadh. SPICEJET SpiceJet, a low-cost airline with a fleet of 19 operational aircraft at the end of September, had accumulated a 2.5% market share. The majority of its flights are domestic, but it also flies to international destinations like Bangkok, Dubai, and Phuket. In recent years, some airlines in India have filed for bankruptcy. This shows the challenges that this sector faces. KINGFISHER AIRLINES Kingfisher Airlines, founded by Vijay Mallya a business tycoon, once operated over 330 flights per day with a fleet 66 aircraft that connected 69 destinations both in India and abroad. After its license was suspended, the debt-ridden carrier ceased to operate in 2012. JET AIRWAYS Jet Airways, a former major Indian airline that operated a fleet containing 124 aircraft, connected over 65 destinations both in India and around the world, according to their website, was a major Indian carrier. The company suspended its operations in 2019 because of issues with securing crucial funds. Last year, the Supreme Court of India ordered that it be liquidated. GO FIRST was once a major airline in India that offered budget flights. It operated a fleet consisting of 59 aircraft at the time it declared bankruptcy in May 2023. The airline connected 27 domestic cities and seven international ones, including Dubai and Phuket. Go First has been ordered to be liquidated in January of this year.
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Major Gulf markets decline ahead of Fed meeting
The major stock markets in the Gulf experienced a quiet Monday with little trading, despite expectations of a U.S. Federal Reserve rate cut in this week. After three months of steady growth, U.S. consumer expenditures rose modestly in September. This suggests that the economy lost momentum at the end third quarter due to a lacklustre job market and rising costs of living. The Fed's dovish comments have further fueled expectations for monetary ease. CME's FedWatch shows that markets have priced in an approximate 88% chance for a rate cut of 25 basis points at the Fed meeting this week. The Fed's position has implications for Gulf economies where most currencies are pegged with the U.S. Dollar, making it a stable anchor for regional currency. Saudi Arabia's benchmark index of stocks edged up 0.1%, thanks to a 0.3% increase in Saudi National Bank. The bank is the largest lender by assets. Saudi Aramco, the oil giant, was up 0.4%. The possibility of lower interest rates for Americans, coupled with geopolitical uncertainties that could limit supply from Russia and Venezuela, supported oil prices. Even after the recent recovery, crude prices are still near multi-month lows. This puts pressure on the fiscal accounts of oil-dependent Gulf countries through lower revenues. Dubai's benchmark index of stocks was flat. The index in Abu Dhabi fell 0.1%. Qatar Navigation retreated 1.3%, while the benchmark Qatari fell 0.2%.
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Pegasus, a Turkish airline, signs a 154-million euro deal with Smartwings and Czech Airlines.
Pegasus Airlines, a Turkish airline, announced on Monday that it had agreed to buy Czech Airlines and its subsidiary Smartwings for a total of 154 million Euros ($180 million). The deal is part of an expansion plan. In a KAP statement, Pegasus announced that it had reached an agreement with Prague City Air for the purchase of its stakes in CSA and Smartwings, as well as its subsidiaries. The debts of the two companies were included in the 154 million euro figure. Pegasus stated that the strategic investment would help to expand Pegasus's global reach and strengthen its presence in Europe. Pegasus' shares rose 3% on Monday in Istanbul. Pegasus stated that the completion of the deal depends on obtaining necessary approvals in Czech Republic and in other countries where Smartwings Group is active. The transaction should be completed in 2026. Smartwings is the largest leisure airline in the Czech Republic. It has air operator certificates in Czech Republic and Slovakia as well as Poland, Hungary and Czech Republic. The company offers 80 destinations across 20 countries. Smartwings' and Czech Airlines fleets have 47 aircraft. Smartwings is expected to generate around 1 billion euro in revenue by 2024. Pegasus operates 127 aircraft that fly to 158 destinations across 55 countries.
India wants assurances from Beijing that it will not target Indians transiting through China
India demanded on Monday that China provide assurances to Indians transiting through Chinese airfields they will not be "selectively detained or harassed" after an Indian was detained in Shanghai last month.
New Delhi lodged a strong complaint with Beijing about what it called an arbitrary detention at an airport of a citizen from India, saying that such incidents undermined efforts to restore ties.
Indian media reported Prema Thongdok was told that her passport was invalid on November 21, because she was from the eastern state Arunachal Pradesh.
She was held 18 hours and prevented from boarding the flight she had booked to Japan.
Beijing claims that Arunachal Pradesh (which it calls Zangnan) is part of southern Tibet. India denies this claim.
At a weekly press briefing, Indian Foreign Ministry spokesperson Randhir Jaiswal said: "We expect Chinese authorities to give assurances that Indians transiting through Chinese airfields will not arbitrarily be detained or harassed and that regulations governing the international air travel will be respected."
He also urged Indians to exercise "due discretion" when travelling to or through China.
The Chinese Foreign Ministry did not respond immediately to a comment request on Monday. Beijing claimed last month that airport checks are conducted according to laws and regulations.
CAUTIOUS RAPPROCHEMENT
After years of tensions, India and China are slowly improving their ties. This is evident in high-level visits such as Prime Minister Narendra Modi’s first visit to China in seven years in which he and President Xi Jinping vowed partnership over rivalry.
After a hand-to-hand conflict in the Himalayas that resulted in the deaths of 20 Indian soldiers and four Chinese during 2020, relations soured. The border between the two countries is 3,800 km long (2,400 miles).
(source: Reuters)