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Western Europe
UK's delayed defense plan puts emphasis on drones; critics claim it is short on cash
The UK will announce its long-delayed Defense Investment Plan on Tuesday. It will prioritize PS5 billion in investment into drones, with a particular focus on autonomous systems. This is to modernise its depleted military and to build it up at a time of rising threats. The blueprint was subject to last-minute debate after the former defence minister?John Healey quit earlier this month. He accused Prime Minister Keir starmer of not being able to raise the funds needed to ensure the safety of the country. However, just hours before it was to be released in its entirety, critics said that the
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Transport Infrastructure
Adani Ports sells 49% of its Indian port stake to MSC for $1.4billion
India's Adani?and Special Economic Zone announced?on Tuesday?that switzerland's msc?group will acquire a 49 percent stake in its Vizhinjam?port for $1.4 billion. It said that this is the largest foreign private investment made in domestic port infrastructure. MSC, world's largest container ship?company will invest through its Terminal Investment unit. Adani Ports The partnership is expected to boost cargo volumes and accelerate ramp up at the Kerala based port. Adani Ports said that the investment was part of their strategy to deepen partnerships with global port operators in order to 'drive traffic and accelerate capacity ramp-ups at Vizhinjam. This is one of
Passenger Transportation Services
Passenger Transportation Services
Austrian supreme court rules against Ryanair add-on fees
The Austrian Consumer Information Association (ACIA) announced on Monday that low-cost carrier Ryanair had lost a case in Austria's Supreme Court over certain?passenger charges, including a fee for airport check-in. Austria is the latest country to reject some of Ryanair’s charges. The airline announced last week that it would no longer charge parents for sitting with their children, after the British Competition Watchdog opened an inquiry into the policy. VKI, a consumer group, reported that an Austrian court on May 14 ruled that 14 clauses of Ryanair's Terms and Conditions are illegal. VKI brought the case for the Austrian government....
Passenger Transportation Services
There are some flights to the Middle East that have resumed but there is still disruption.
As diplomatic efforts to resolve the conflict that followed the U.S.-Israeli strikes on Iran gain momentum, some airlines are restoring their flights to certain parts of the Middle East. However, many carriers continue to suspend flights, causing global travel disruptions. The following is a list of the current status of flights by alphabetical order. AEGEAN AIRLINES Thessaloniki-Tel Aviv flights were resumed by Greece's largest airline on June 28. Dubai flights are suspended until August 31 and Erbil and Baghdad flights until September 30. AIRBALTIC AirBaltic, a Latvian airline, has suspended flights to Tel Aviv from June 28 to July 1,...
Passenger Transportation Services
Lufthansa CEO: TAP's interest is'very strong,' in the competition with Air France-KLM
The CEO of Lufthansa said that the German group is preparing a bid to rival Air France-KLM. In July, the Portuguese government launched a long-delayed TAP privatisation. It aimed to sell a stake of 44.9% to a strategic partner airline to increase its global reach, and set aside an extra 5% to employees. Portugal has asked Lufthansa to submit binding bids before the end of July. The two airlines were the only contenders, with initial offers that the government considered "largely equal and very ambitious" in terms of strategic, industrial, and financial terms. This demonstrates its confidence in TAP’s valuation....
Passenger Transportation Services
Investors on edge as tensions between the US and Iran keep major Gulf markets calm
Gulf markets opened lower on Monday as investors were on edge due to recent strikes by the U.S. against Iran. This was despite a pact?between both?countries?to stop further attacks. After several days of retaliatory attacks, which were triggered by a projectile fired by Iran that struck a cargo ship in the Strait of Hormuz on last week, there will be?a renewed push for diplomacy throughout the Middle East. Since then, both sides have accused each other for violating an interim truce. Oil prices rose due to uncertainty over the durability of the peace deal, but crude oil has since lost?nearly...
Passenger Transportation Services
Fans of the World Cup in Los Angeles, a city dominated by cars, embrace buses and trains
On every World Cup matchday, tens and thousands of American and international fans throng Union Station, in downtown Los Angeles, to take special buses directly?to Inglewood Stadium, while thousands watch from the "Fan" Zone inside and outside of the ornate Art Deco Station. When a soccer fan is lost, "ambassadors", who are there to guide them, will help them find the Fan Zone or buses. If they feel overwhelmed by heat or stress, "calming pods" or hydration centers can be used. Armando Roma, manager of the civil rights, inclusion, and racial equity group at LA Metro, said that some people...
Transportation
After the earthquakes in Venezuela, power outages have slowed down operations at key ports and plants
Sources said that an outage this week on a power transmission line in Venezuela's Central Region is slowing down efforts to restore?full services at a port, refinery, and petrochemical complex following earthquakes. Residents and sources said that many roads have reopened, and electricity has been restored to areas affected by the earthquakes. The death toll is now at almost 600, but residents and sources say the area closest to the epicenter, in the central region, remains largely without power. Sources said that the lack of electricity is preventing injured people from being transported, hospitals from operating, goods imported at ports...
Passenger Transportation Services
Spiegel reports that Lufthansa may ground 40 jets because of fuel shortage.
Spiegel reported that Lufthansa has prepared contingency plans for a fuel shortage. This is in response to the conflict in Iran, which will have an impact on the shipments of 'energy through the Strait of Hormuz. Spiegel reported that Lufthansa's CEO, Carsten Spohr, briefed his employees on Friday at an internal event. He pointed out a dramatic worsening in the crisis. It said that the management had prepared two "contingency plans" which would allow up to 40 planes to be grounded if an emergency occurred. Spiegel reported that the grounding was not yet certain. Spohr said at the event, "Today,...
Passenger Transportation Services
There are some flights to the Middle East that have resumed but there is still disruption.
Some airlines have resumed flights to certain parts of the Middle East, as diplomatic efforts intensify to resolve the conflict that erupted after the U.S.-Israeli strikes on Iran. However, many carriers continue to suspend their flights, causing global travel disruptions. Below is an alphabetical update of the flight statuses for airlines. AEGEAN AIRLINES Thessaloniki-Tel 'Aviv flights were cancelled by Greece's biggest carrier until 26 June. Flights from Thessaloniki to Tel 'Aviv have been canceled until June 26. AIRBALTIC AirBaltic, a Latvian airline, has canceled flights to Tel Aviv and Dubai until the 28th of June. AIR CANADA Canadian Airlines has...
Passenger Transportation Services
Kenya expel's Somalia’s second vice prime minister for alleged passport fraud
A police report on Friday showed that Kenya deported Somalia’s?second vice prime minister? back to his home country this week for suspected fraudulent acquisition of a kenyan passport. Jibril Haji, a Somali diplomat, arrived at Nairobi’s Jomo Kenyatta International Airport Wednesday afternoon. He had a valid visa on his passport but was suspected during an immigration check of fraudulently obtaining a Kenyan passport. The report stated that "when he was interrogated, he confessed. And?when asked to surrender the passport, he refused to do so and said he could only present it to a court of justice." Haji and Somalia's Information...
Passenger Marine Transportation
After an attack on a ship, traffic through the Strait of Hormuz is slowed
Ship tracking data revealed that fewer vessels traversed the Strait of Hormuz Friday than they did earlier in the week. This was hours after an Iranian-operated vessel fired on a Taiwanese ship. U.N.'shipping 'agency temporarily suspended its voluntary scheme for evacuating hundreds of stranded vessels and thousands of seafarers out of the Gulf, after the ship was damaged by the attack near the Omani side. Nevertheless, data from LSEG's and MarineTraffic's ship tracking showed that at least four oil tankers, including three very large crude carrier ships, each of which can carry a maximum 2 million barrels, had entered the...
Passenger Transportation Services
China Eastern Airlines will buy 25 Airbus A330 Neo jets worth $9.4 billion
China Eastern Airlines announced on Friday that it will purchase '25 A330 Neo jets from Airbus at a catalogue price of $9.35 billion. The Chinese carrier is expanding its widebody fleet in order to service more international routes. China Eastern said that it would deliver the aircraft in batches between 2029 and 2033 in a filing with the Shanghai Stock Exchange. The two companies had signed a purchase agreement earlier in the day in Shanghai. The filing stated that the transaction would be used to upgrade and replace the existing aircraft models and supplement the company's?future transportation capacity. The A330neo,...
Passenger Transportation Services
New Zealand's Capital, Wellington, is hit by a storm that cancels hundreds of flights
The storm that hit central New Zealand Friday knocked out power for 'thousands' of homes, caused flooding, and triggered landslides. MetService, the national?weather forecaster, issued multiple severe weather alerts as a system of low pressure swept across Canada. The warning was issued after wind speeds?exceeding?150 kph were recorded in some parts of the country over night. The?storm caused 200 flights to be cancelled in and out of Wellington. The airport said that "most flights into and out of Wellington Airport today have been cancelled, and most but not all scheduled flights tonight have also 'been cancelled". The winds are expected...
Ground Transportation
Amtrak, the US passenger rail company, sets a record for ridership and cuts losses
Amtrak, the U.S. passenger rail company, said Tuesday that it had set records for revenue and ridership in a single year. It also cut its losses by 15 percent to $598 millions and is aiming for profitability by 2028. Amtrak is a major effort in rehabilitating the infrastructure of the Northeast corridor between Boston, Massachusetts and Washington. It is expanding service throughout the United States by purchasing new Acela trains with higher speeds and replacing regional trains from next year. Amtrak reported that in the twelve months ending September 30, it had 34,5 million trips made by customers, an increase...
Whaleboat sinks into river in Congo, killing at least 107 people
According to a government internal report viewed by us on Friday, at least 107 people died when a whaleboat caught blaze in the west of Democratic Republic of Congo. In a memo, the Ministry of Social Affairs stated that 146 people were missing after the boat, which was a narrow double-ended open vessel, caught fire near Malange Village in Lukolela Territory on Thursday night. The note stated that rescue teams recovered 209 survivors after the vessel burnt and drifted downriver. The fire destroyed the cargo and 15 riverside houses. The search operations continued Friday, with community volunteers and naval personnel...
As inventories shrink, premiums for copper contracts on the nearby LME soar.
The premiums for copper contracts near London Metal Exchange have increased to their highest level since October 2022 due to low inventories, large cash contracts and warrants held by traders. The title document that confers ownership on metal is a warrant. Tom-next, also known as the premium or backwardation that is charged for purchasing copper tomorrow and then selling it the next day, is currently trading at above The price of a metric tonne is $48. This compares to a $2 discount at the beginning of the week. The premium for the cash Copper Contract over the Three-Month Forward It...