Latest News
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Crimea brings public street phones back for emergency calls
The Russian-controlled Crimea installed street 'phones to make emergency calls to police and ambulance services. This is an alternative to mobile communications that are frequently 'jammed due to frequent Ukrainian attacks. Ukraine has struck supply lines, bases, and power plants located in Crimea. Crimea was captured by Russia in 2014 and annexed unofficially. Ukraine, under constant Russian missile and drone attacks, claims it's trying to isolate Crimea from Moscow and undermine its?war effort. Local authorities in Crimea reported that 17 civilians had been injured by a 'overnight drone strike on the southern city Yalta. A high-rise apartment was targeted. Both Russia and Ukraine claim they do not deliberately target civilians. Yevpatoriya, on Crimea's West coast, has installed phones throughout the city to call emergency services. Witnesses have reported seeing several of these phones throughout the city. Maria Ushakova, local resident, said that if the phones work in power outages, they are a good option for additional protection. The popular holiday destination of Crimea has suffered from power outages, fuel shortages and oil refineries that were targeted by Ukrainian drones. It has had to cancel summer camps for children and cut back on the hours that cafes and public transportation operate. Mark Trevelyan, Christian Schmollinger and Mark Trevelyan are responsible for the reporting.
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EasyJet CEO: Once the takeover is formalised, EasyJet will adhere to EU regulations
EasyJet will contact the regulators in the European Union over ownership regulations as soon as the 'British carrier' has received a formal offer from one of its potential suitors. CEO Kenton Jarvis responded to the report on Thursday. Reports on Wednesday said that the EU could tighten airline ownership regulations, which would potentially complicate easyJet's takeover. Both of easyJet’s bidders, Apollo and Castlelake, are based in the United States. The airline has chosen Apollo's PS5.7billion ($7.6billion) bid over Castlelake's?lower offer. Jarvis explained that the board would consider both value and deliverability in evaluating any 'offer. Deliverability includes, for example, being an ally of Europe and being regulated as such." Jarvis added that easyJet,?Apollo and regulators will likely work "hand-in hand".
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Sources say that Kazakhstan's oil production plummets following drone attacks which forced the exporting terminal to close.
Two industry sources reported on Thursday that oil production in Kazakhstan has decreased?since?the closure?of a Black Sea Terminal, which serves as a main outlet for the nation's crude shipments. The terminal was also recently targeted by drone strikes. Tengiz, Kazakhstan's biggest oilfield, is the field where the decline was most pronounced. Sources claim that the production there has more than halved to 406,000 barrels a day on Wednesday, from an average of 925,000 bpd in July. According to a source, the average oil and gas condensate production in Kazakhstan fell on Wednesday from 2.07 million bpd to 1.63 millions bpd. Chevron's and Kazakhstan's Energy Ministry did not immediately respond to requests for comments. After suspending loadings Monday, the Caspian Pipeline Consortium has stopped receiving oil from Kazakhstan due to attacks against oil tankers at their Black Sea?terminal. CPC, the company that accounts for over 80% of Kazakhstan's oil exports, had suspended loadings at this outlet earlier. Russia accused Ukraine of targeting CPC tankers in its "ambition" to further destabilise global oil markets. Ukraine has not made any comments on the attacks, despite a recent escalation in its attacks on Russia's infrastructure for energy. The suspension of loads from the CPC pipeline, which exports 2% of the 'global' oil, is a further concern for the 'global? oil market, as the war in Iran already has disrupted the supply from Saudi Arabia, and other Gulf producers. (Reporting and Editing by Alexandra Hudson, Louise Heavens).
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Minister: Shipowners stop vessel calls for exports of farm products at Ukraine's Black Sea ports
The country's Agriculture Minister said that shipowners temporarily halted vessel arrivals in?Ukraine?s Black Sea ports?for agricultural exports?after a recent surge?in russian attacks against ports and merchant ships? According to traders and analysts, the Russian drone and missile attacks have caused Ukraine to lose about a third its ability to export grain through Black Sea ports. "As from today, entry of ships is suspended. The shipowners made this decision. Ukraine as a country has not imposed restrictions," Interfax Ukraine quoted Taras Vysotskyi on Wednesday. Interfax-Ukraine reported that Vysotskyi also added that alternative routes as well as infrastructure are currently underutilised. Since 2023, Ukraine has been exporting a large amount of grain via its Black Sea shipping route. This is because Russia reneged on a deal which had guaranteed "safe passage" for agricultural exports following its invasion of Ukraine in 2022. In recent weeks, Russian?attacks? on Ukraine's deepwater port?and international ships have increased. Brokers say that shipowners refuse to enter Ukrainian port due to the sharply increased concerns about war risks, and traders have stopped purchases. Ukrainian authorities reported that a Russian missile attack on a ship transporting corn near Odesa, Ukraine on Sunday resulted in the deaths of nine crew members from India, Syria and one Ukrainian maritime pilot. UKRAINE REQUESTS URGENTE? A SECURITY CONSULTAN MEETING Andrii Sybiha said that the Russians have attacked at least three civilian cargo vessels in recent days. Today, no vessels crossed Ukraine's Black Sea Maritime Corridor - just as harvest was at its peak. Sybiha wrote in a X post that this was a deliberate act of economic and humanitarian terror. Ukraine had also requested an urgent 'United Nations Security Council Meeting for Monday. Moscow claims it is targeting port infrastructure and vessels that are supporting the Ukrainian military. Ukraine also intensifies its attacks on vessels in?the Black Sea and the Sea of Azov, as part of a broader?campaign to isolate Russia-occupied Crimea while undermining Moscow's main revenue sources. Russia banned vessel movements into and out of Novorossiysk, its largest port in terms of volume, which handles about a third of the country's grain exports, on Wednesday. (Reporting and editing by Emelia Sithole Matarise; Anna Pruchnicka)
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EasyJet's Q3 profits lower as Iran War raises costs
EasyJet, the target of a takeover, reported a PS85million ($113.8million) profit in its 'third quarter' on Thursday. This was a significant drop from a year earlier due to disruptions caused by Iran war, but said that consumer confidence is increasing as we enter 'peak summer season. The British budget airline, which has backed U.S. investor firm Apollo's PS5.7billion?takeover?offer over Castlelake's?repeated?approaches, stated that there was a strong demand for bookings made late in the month before departure, throughout the entire quarter. It also said it had 68% of its seats sold during the fourth quarter. The 'five-month war' has a dreary effect on the travel industry, as its quarterly earnings are a far cry from the PS286million profit it logged last year.
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New York Times Business News - July 23,
These are the 'top stories' from?the New York Times?business?pages. The?New York Times has not verified the accuracy of these stories. The Florida teenager who sued Meta for claiming that the company's social media apps caused his depression and anxiety dropped his lawsuit. Sony Pictures Entertainment announced that it will reopen the Cinerama Dome, Hollywood by 2028 after a renovation. This was in response to a growing demand from younger audiences for premium movie experiences. Three U.S. Airports are the first to adopt the new "private screening" model of the Transportation Security Administration, despite the staunch opposition from the union representing thousands of T.S.A. workers. workers. - ?U.S. Trade Representative Jamieson Greer said to Congress on Wednesday, that there was a "national emergency" in trade and that the administration was still determined to use tariffs as a tool for economic transformation.
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Channel Tunnel operator: EU software problems could delay biometric checks
Getlink, the operator of the Channel Tunnel, warned on Thursday that software problems could cause the biometric phase to be delayed past the original deadline of September 6, affecting car passengers who use the tunnel. The Chief Executive Yann Leriche stated that the biometric component for the new Entry/Exit System has yet to be implemented in passenger vehicles. He also warned that the software at the European level is not fully stable. Travel disruptions during holiday seasons are a concern for airline groups as well as British authorities. Leriche said to reporters: "I won't tell you that we're not experiencing any problems, but there is one problem?that impacts us all and?for which there is no immediate solution. The software provided by the European Union." Getlink, the company that operates the Channel Tunnel on a concession lasting until 2086 has invested EUR80,000,000 ($91,000,000) in preparing its terminals for EES. Leriche reports that the queues in the tunnel are generally only one or two hour long, as opposed to?significantly more delays' reported at certain airports. All this bad press, especially coming from the British, because 80% of tourists are British, creates an impression that the problems can't be solved. But, if we do our jobs, they're largely manageable. The Paris-based firm also announced that it had filed a lawsuit against the British government for revaluing business rates, which tripled their annual tax bill. Leriche stated that the company would give the UK government until the end the summer to reconsider their position before launching a formal legal challenge. Eurotunnel's owner has raised its guidance for full-year earnings to EUR835 to EUR870 millions, up from EUR820 to EUR860 in the past, and assumed only limited disruptions due to the rollout of the new entry system. $1 = 0.8763 Euros (Reporting and Editing by Edmund Klamann; Gianluca Nostro, Zakarya Melani)
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Indian billionaire Adani considering starting an airline, sources say
Two sources who have direct knowledge of the situation said that Indian billionaire Gautam 'Adani's group is considering launching a new airline. This could reshape the competition in a market currently dominated by IndiGo &?Air India. Sources declined to be named because they weren't authorised to talk to the media. According to the first source, India has been encouraging business groups to start an airline, including Adani. This is due to the ongoing scrutiny of Air India after 'last year's crash, and IndiGo's operational problems that led to 'widespread disruptions in December'. Adani?did not immediately respond to?questions from?. Reporting by Abhijith Gaapavaram and Aditya Kalra, Editing by Jacqueline Wong & Jamie Freed
Mexico's largest port expands as it bets global trade despite Trump’s tariffs
Mexico is expanding its largest seaport as it bets on global trade and positive economic growth despite the grim outlook caused by U.S. president Donald Trump's tariff wars.
According to the Mexican Navy which operates the facility, the Mexican Government aims to turn the Port of Manzanillo, on Mexico's Pacific Coast, into the busiest port in Latin America. It will be able to process 10 million 20-foot containers (6.1-meter-long) and can handle up to 10,000,000 cargoes.
In 2024, it will be the largest port in Mexico and the third-largest in Latin America. It will handle nearly 4 million 20 foot containers.
Claudia Sheinbaum, the Mexican president, has a major infrastructure project in mind. It is a multi-billion dollar port extension. Mexico is investing in order to combat an economic slump caused by Trump's trade conflicts.
The International Monetary Fund cut its growth predictions for the majority of countries earlier this week. Mexico was one of the countries that saw their growth forecasts slashed by 0.3%. This is due to U.S. Tariffs affecting exports.
Sheinbaum disagreed with the IMF's forecast and said that public investments would stop the economy from contracting. She also praised her government's Plan Mexico, an initiative to boost the domestic industry. According to a document released by the government earlier this month, the success of the plan depends in part on modernizing the country's port facilities, including Manzanillo.
Julieta Juarez Ochoa is the commercialization manager at Manzanillo. She says that the U.S. Tariffs haven't slowed down trade in the port. She stated that the majority of imports to Manzanillo are from Asia, and they are used primarily in manufacturing at home.
She said, "We don’t see any impact (of U.S. Tariffs) and we don’t anticipate a significant one."
She said that the expansion would increase Manzanillo’s ability to handle containerized goods and hydrocarbon products. Sheinbaum said that the project is expected to be completed by 2030. Reporting by Diego Delgado in Manzanillo Mexico; Writing and Editing by Laura Gottesdiener
(source: Reuters)