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Suspected saboteurs hit Italian rail network near Bologna, police say
Transport Ministry: Saboteurs damaged rail infrastructure near the northern Italian city Bologna Saturday morning, disrupting train travel on the first day of the Winter Olympic Games. Three separate incidents were reported by the police at three different locations. These caused delays up to two and a half hours for regional, high-speed, and Intercity services. The Ministry called it "serious" sabotage, adding that it was reminiscent of the opening day for the Summer Olympics in Paris 2024, when saboteurs attacked France's TGV high-speed train network, causing chaos. The ministry headed by Matteo Salvini, the Deputy Prime Minister, said that "these?actions... of unprecedented seriousness" do not tarnish Italy’s image around the world. Ferrovie dello Stato, the state-owned railway, temporarily closed its high-speed Bologna station, but said that traffic had slowly returned to normal by Saturday's afternoon. The police said that a cabin containing a track switch was set ablaze before dawn in the Adriatic city Pesaro. A few hours later, in Bologna electrical cables that were used to detect train speed were severed. Meanwhile, a crude?explosive was found near a track. A spokesperson said that no one has claimed responsibility for the incidents which appear to have been coordinated. Bologna is the major east-west railway junction in Italy. It is also a key hub connecting the southern cities of Milan and Venice to the northern cities. Milan and Cortina are co-hosts of the Winter Games. Cortina is accessible by train from Venice. (Reporting and editing by Aidan Lewis, Kevin Liffey and Crispian Balmer)
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Algeria cancels air service agreement with UAE
Algeria is in the process of cancelling the air'services agreement' it signed with the United Arab Emirates in Abu Dhabi, in May 2013. Algerian media outlets, however, have been harshly critical of the UAE over the past few months. They accuse them of trying to sow discord in the region. The?North African nation's state-owned radio reported that "Algeria initiated procedures to halt the air services contract with the United Arab Emirates signed in Abu Dhabi on the 13th of May 2013, and ratified through a...presidential order dated the 30th December 2014". According to Article 22 of this agreement, the Emiratis must be notified formally of the termination via diplomatic channels. "The Secretary-General of International Civil Aviation Organization will also be notified to take the necessary procedures in the organization." The UAE has not yet responded to the question. Abdelmadjid Tebboune, the Algerian president, said in October of last year that his country's relationship with all Gulf States was warm, except for one country. This was a thinly-veiled reference to UAE. He described the relations between Saudi Arabia, Kuwait and Qatar as "brotherly". He accused an unnamed nation of interfering in Algerian internal affairs and trying to destabilise the country. (Reporting and writing by Tarek Amara; Editing by Toby Chopra).
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Saudi Arabia announces major new Syria investments
Saudi Arabia announced a major package of investments in Syria on Saturday, covering energy, aviation and real estate, as the kingdom positioned itself as an important supporter of Syria's?new leadership. Saudi Investment Minister Khalid al-Falih announced on Saturday that Saudi Arabia has launched an investment fund for Syria, which will commit a total of?7.5 billion Saudi Riyals ($2 billion) over several phases to the development of two airports in Aleppo. Falih said that the Elaf Fund will finance large-scale Syrian projects with private sector investors from Saudi Arabia. Saudi flynas, a budget airline in Saudi Arabia, and the Syrian Civil Aviation Authority have signed an agreement for a new airline called "flynas Syria". Flynas and the Syrian side will each own 51% of the joint venture, while the other 49% will be owned by flynas. The company stated that operations are expected to start in the fourth quarter 2026. SAUDI ARABIA BACKS SYRIA'S NEW LEADERSHIP Saudi Arabia has been supporting President Ahmed al-Sharaa, who came to power late in 2024 after the ouster Bashar al-Assad, at the head a coalition islamist opposition factions, since his arrival. The sanctions were a major obstacle to the economic recovery of Syria after a 14 year civil war which caused extensive damage in many parts of the country, and resulted in millions of people being displaced. Riyadh announced last year $6.4 billion in investments. These were split into 47 deals, with over 100 Saudi companies involved in real estate, infrastructure and telecoms. Both sides signed a Memorandum of Understanding and a Joint Development?Agreement with Saudi Arabia’s ACWA Power, and the Saudi Water Transmission Company. This agreement outlines a roadmap to cooperation in the?water sector. Mohamed al-Bashir, the Energy Minister of Syria, said: "We are planning to build a seawater-desalination facility to deliver fresh water to the southern part of the country from the Syrian coastline." Over the last year, the interim government has been criticized for promising broad development based on memorandums of understanding with foreign investors. Many have not yet been converted into contracts.
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As China critic Jimmy Lai waits for Monday's sentencing
The city's judiciary announced on Friday that Jimmy Lai, a Hong Kong media tycoon who has been a democracy activist and a national security advocate, will be sentenced on Tuesday. This is part of an international trial which has attracted criticism from many countries including the U.S. Lai, 78 years old, founder of Apple Daily, now closed, which advocated democracy, was found guilty of two counts of conspiring to collude and work with foreign forces, under China's national security law. He also faced a charge for conspiracy to publish seditious materials. Lai has pleaded guilty to all charges, despite suffering from high blood pressure and heart palpitations after spending more than five years in solitary confinement. Hong Kong's judicial autonomy has been questioned internationally after the landmark case. This is despite a crackdown that lasted for years on freedoms and rights in this global financial hub following 2019 pro-democracy demonstrations, which Beijing viewed as a threat to its rule. Hong Kong,?a former British Colony, returned under Chinese rule in 1997, amid assurances that it would retain its own judicial and freedoms separate from mainland China. TRUMP HAS PLEDGED TO "SAVE" LAI In a statement, Aleksandra Biedakowska, Asia Manager with Reporters Without Borders (a group that advocates for press freedom), said: "The eyes of the world are on Hong Kong." She added, "The result will resonate beyond Jimmy Lai and send a decisive message about the future press freedom on the territory." Donald Trump, the U.S. president, raised Lai’s case in a meeting with Chinese President Xi Jinping last October. He has promised to "save", Lai who could face a life sentence. Some countries including the U.S., Britain and Canada have claimed that the trial was politically motivated and demanded Lai's release immediately. Beijing views Lai, however, as the mastermind?of 2019 protests, and a conspiracy advocate advocating U.S. Sanctions against Hong Kong and China. Lai was detained in 2020 but his trial did not begin until December 2023. It lasted 156 days. Chinese and Hong Kong authorities have defended national security laws for restoring stability in Hong Kong, and claim Lai is receiving a fair trial. Lai was found to be guilty of conspiring with six former executives, among others, to produce seditious materials between April 2019 and June 2021. He also admitted to colluding with foreign forces including the U.S. to impose sanctions and other hostile actions against China. Chief Justice Andrew Cheung of Hong Kong, the top judge in the city, said recently that any calls for Lai's release prematurely would undermine rule of law. He said that "such?demands" not only circumvent legal procedures to ensure accountability, but also attack the very core of the rule-of-law itself. Keir starmer, British Prime Minister, said he and Chinese President Xi Jinping had a "respectful conversation" about Lai during a recent visit to Beijing. He declined to give details.
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Hong Kong summons Panama envoy over CK Hutchison ports ruling
Hong Kong's chief of commerce summoned on Friday the Panamanian Consul in 'city to condemn a recent court decision that nullified CK Hutchison, based in Hong 'Kong's contract for the operation of two 'ports 'at the Panama Canal. China's Hong Kong & Macau Affairs Office had warned Panama that it would pay "heavy penalties" for its decision made earlier in the week. According to a Friday post from the bureau, Algernon Ying Wah, Hong Kong's Secretary of Commerce and Economic Development expressed "strong opposition and dissatisfaction" with the Panama Supreme Court decision during a meeting. Yau stated that the company had?made large investments and created employment in Panama over many years. He criticised Panama for "destroying" its national credibility, a move he said could have a far-reaching impact on the business environment of the country and its economic development. He called on the Panamanian government?to respect the spirit of contract and to provide a fair, just and equitable business environment for businesses operating legally locally. Yau stated that "Hong Kong firms operating in Panama and investing there should be treated fairly and protected." CK Hutchison's Panama Ports Company has launched international arbitration proceedings to challenge the ruling. On Thursday, Panamanian President Jose Raul Mulino called the court decision definitive and said he did not expect the situation would escalate. He said, "Panama will not be threatened by any nation on Earth."
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Cyclone closes ports in Australia's Pilbara region, which is rich in iron ore
The operator of the ports in Western Australia said that the port, which is the world's largest iron-ore hub, was closed Saturday due to a tropical cyclone developing off the coast from the?Pilbara region. In an online alert, Ports stated that Tropical Cyclone Mitchell, a Category 2 storm, caused the closure of Port Hedland as well as Ashburton and the ports of Cape Preston West, Dampier, and Varanus Island in the Pilbara. The operator stated that the cyclone will "most likely start?to turn gradually to the southwest, then south, from tonight, and move closer to the coast." This is referring to Pilbara, an area rich in resources twice as large as the United Kingdom. Mitchell intensified on Saturday and was predicted to become a Category 3 cyclone over night. It could bring wind gusts up to 170 km/h (105mph) in the Pilbara. Port Hedland is the world's largest exporter of iron ore. It is used by BHP Group, Fortescue, and Gina Rinehart’s Hancock Prospecting. Pilbara Ports announced on Friday that its ports had been cleared because of the emerging cyclone threat. (Reporting and editing by William Mallard in Sydney, Sam McKeith from Sydney)
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Bloomberg News reports that PJM is expecting a major power shortage amid the data center boom.
Bloomberg News, citing executives from PJM Interconnection who spoke at a meeting, reported that the U.S. grid operators warned of a 'potential shortfall in power supply of up to 60 gigawatts if demand for data centers continues to rise. They said that unless unprecedented action is taken to help support the construction of new power plants, a shortfall will occur. The tens and tens of Gigawatts that PJM is waiting to connect are largely data centers needed by Big Tech for its artificial intelligence expansion. The grid operator announced last month a framework for handling the massive energy-consuming projects just hours after the White House called for emergency action to prevent potential blackouts. PJM controls power across 13?states largely located in?the Mid-Atlantic. This includes the largest concentration of data -centers in the world in Virginia. Other states are also becoming burgeoning hubs to store server storage. Reporting by Varun Sahay, Bengaluru. Editing by Sahal Muhammad
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Sources say that Williams is considering buying gas-producing assets in order to increase AI energy supply for hyperscalers.
Williams Companies has been exploring the possibility of buying natural gas production in the United States. This is a rare move for an energy infrastructure provider, but it's a way to ensure natural gas supplies to support the one-stop shop offering that the company offers to data center and hyperscaler clients. Three people familiar with the matter said that Williams Companies, based in Oklahoma, has been positioning itself to be a leader when it comes to providing energy for companies developing artificial intelligence infrastructure. Williams is looking for upstream assets to allow it to position itself as an energy partner that can be pitched to hyperscalers. This would give it a competitive edge in courting digital operators of infrastructure that otherwise would need to negotiate with several parties. Sources cautioned that there is no guarantee the company will move forward with its plan and spoke under condition of anonymity in order to discuss confidential discussions. Williams stated that it "continuously evaluates" opportunities to align with and advance its natural gas-focused strategic approach, but declined further comment. Tuesday, the company will report its earnings for the fourth quarter and host its 2026 Analyst Day. AI POWER NEEDS The challenge of securing enough power to run data centers is one of the most important challenges facing hyperscalers, as well as other developers of AI-based infrastructure. Data centers, in addition to requiring huge amounts of electricity on a consistent basis, are also putting stress on the grid which is experiencing demand growth for a first time in 20 years. The power providers are struggling to meet the demand. Existing?generation is affected by extreme weather conditions, and new projects are stymied due to local opposition and long wait times for critical components. Williams' strategic planning has placed power generation at its core. Meta Platforms has agreed to buy the 440 Megawatts of electricity that the $2 billion Socrates Project in Ohio is expected to generate in the second half this year. Williams announced plans on October 1 for two additional power projects, Apollo and Aquila. These are backed by 10-year agreements to purchase power from an unnamed third party. Williams expects to spend around $3.1 billion for these two projects. Both are due online in the first half of 2027. In the coming years, Williams' earnings are expected to be boosted by adding power projects to existing infrastructure. This includes approximately 33,000 miles (mostly natural gas) of pipelines and storage assets. Williams' current goal is to increase earnings (EBITDA, before interest, taxes and depreciation) by 5%-7% per year. In a note published on February 4, analysts at UBS stated that they would be watching closely to see if Williams will raise this target to 7% or more compounded growth annually through 2030 during the analyst day next week. INTEGRATED ENERGIA A U.S. oil company owned a combination of production, storage and transportation assets. In the early part of the 21st Century, however, the industry shifted to a more specialized model. Most companies - with the exception of Exxon Mobil or Chevron – divested non-preferred assets. Williams spun off the majority of its upstream businesses into WPX Energy in 2012. WPX was independent until 2021 when it completed its $12 billion merger. Williams also owned other small production assets that were often linked to joint ventures, or part of the midstream footprint. These have been sold over time. For example, its stake in GEP Haynesville II's Haynesville Shale Basin joint venture was sold in October for $1.5 billion to Japan's JERA.
What happened in Spain's high speed train crash?
The Sunday train derailment and collision in southern Spain left at least 122 people injured and 39 dead. Officials cited the "strangeness" of the accident, which occurred on a straight section of rail, and one theory suggested that the cause was a broken rail joint.
What we know about the situation so far is:
The accident occurred at 7:45 pm (1845 GMT), near the town Adamuz, in the province of Cordoba. This is about 360 km (225 miles) south of Madrid.
Two high-speed trains were involved, one operated by the private consortium Iryo and the other by Alvia which is run by Spain's national railway company Renfe.
The Alvia train was hit by the last two of eight carriages from the red Iryo, which had been travelling between Malaga and Madrid. This caused the first two carriages on the Alvia to fall and derail up to a five-metre (16.4-foot) embankment.
What Officials Are Saying According to Renfe Chief Alvaro Fernandez Heredia who said that human error is virtually eliminated, there was only a 20 second interval between the derailment of the train and the impact.
He said that it would take some time to determine whether the failure was in the rolling stock or infrastructure.
Officials stated that the Alvia appeared to have hit the Iryo's derailed carriages, or debris under the Iryo's chassis. Renfe reported that the 27-year old driver of the Alvia train was killed in the accident.
Iryo was a train that carried around 300 passengers and just left Cordoba, a historic city. The train was travelling at 110 kph when the accident occurred, which is well below the 250 kph maximum speed limit on this stretch.
Renfe reported that the oncoming train was traveling at a speed 205 km/h.
In the first Alvia carriage, there were 37 people and in the second, 16 people. The majority of the injured and dead came from the first Alvia carriages.
Oscar Puente, the Transport Minister, said the Iryo is less than four-years-old and the railway track was completely renovated in May last year with an investment of 800 million euros. Iryo stated that the train's last inspection was on January 15th.
Puente described the accident as "tremendously bizarre" and stated that the derailment may not have caused any deaths if it wasn't for the approaching train.
Faulty Joint a Possible Cause? Sources briefed on the initial investigations said experts found a broken join, which may have created a gap in the rail sections. They believed this was key to determining the exact cause of the accident. Transport Ministry would only confirm that the joint broke as a result the accident and not earlier. They refused to provide any further comments. The ADIF, the state-owned administrator of rail infrastructure, did not immediately respond to a question about this claim.
Jose Trigueros said that his preliminary analysis indicated "failure of undercarriage of back units" of Iryo train.
He did not exclude a track problem, but said that nightly inspections using tamping machines were intended to detect rail fatigue. In this case, the control center automatically reduces circulation speed.
Previous problems The train drivers' union SEMAF warned ADIF last August that the track at the collision site was severely damaged by potholes, bumps and imbalances of overhead power lines.
ADIF didn't?respond immediately to a comment request.
A review of ADIF's X alerts shows that it previously reported infrastructure problems at Adamuz - from signal failures and overhead power lines to other issues - which caused high speed trains to be delayed between Madrid, Andalusia, 10 times, since 2022.
Iryo is a joint-venture between the Italian state railway operator Ferrovie dello Stato and Spanish infrastructure investment funds Globalvia. The service began in November 2022 with the Madrid to Barcelona route, and expanded to other major cities. Iryo's ETR1000 trains are manufactured in Europe by Hitachi Rail and Bombardier for Ferrovie unit Trenitalia. Renfe's Alvia train is manufactured by local manufacturers CAF and Talgo.
Everest Insurance, the leading insurer for Renfe provides compensation to passengers and their beneficiaries. Everest declined to provide details on the policy period and deductible when The Insurer contacted them. (Reporting and writing by Victoria Waldersee; editing by Sharon Singleton, Ros Russell, Aislinn Laing; David Latona; Emma Pinedo; Andrei Khalip)
(source: Reuters)