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Middle East
Trump: Iran's negotiations with Trump have been delayed too long, and they will pay the price
Donald Trump, the U.S. president, said on Wednesday that Tehran had taken too long to reach a deal. It would now have to "pay the price", after Iran and the United States exchanged attacks in the region amid reports of efforts to continue negotiations. Trump said in a post on social media that Iran is "all talk and no action." They've taken too long to negotiate an agreement that would have been good for them. Now they will pay the price !!!" Trump's remarks?come after an official who knows the situation revealed that Qatari negotiators travelled to Tehran on Wednesday
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Asia
Taliban: Pakistani air strikes in Afghanistan kill at least 13, Taliban claims
The Afghan Taliban government reported that Pakistani air strikes in three provinces of Afghanistan killed at least 13 people, including 11 children. This is a resurgence of a conflict which has claimed hundreds lives this year. Taliban spokesperson Zabihullah Mojahid stated that at least?14 other people - including children and women – were injured by strikes that violated Afghanistan’s airspace, and bombed homes of civilians in the provinces Kunar, Khost, and Paktika. The Pakistani government said that the "calibrated attacks" along the Pakistan-Afghanistan frontier killed 26 militants. They were in response to recent attacks on the country's northwestern region. Attaullah
Passenger Transportation Services
Passenger Transportation Services
Foreign visitors to Cuba's once-bustling tourist sites are becoming increasingly rare
Ramiro Escobar, a Colombian, had always dreamt of visiting Cuba. Last week, the 68 year-old finally made the trip after putting it off for decades. He visited the island's most famous sites including the Varadero beach resort with its white sands. Escobar raved about his trip despite Cuba's struggling economic situation and fuel shortages. He said, "It is true that the country is in crisis but there are still many services available and my experience has been excellent." "I have had a wonderful time here." Escobar, a foreign tourist from Latin America, was the only one out of six to...
Passenger Transportation Services
Emirates is optimistic about Boeing 777X but there has been no progress on the Airbus A350 engine dispute
Dubai's Emirates president says that the company expects to get its first Boeing 777X, which has been delayed for years, by June next year. However, it is still waiting on progress in Rolls-Royce engine improvement, which would allow them to order Airbus A350-1000. Emirates, the largest buyer of wide body jets in the world, has complained a lot about the long delays with Boeing's biggest?model and the durability of the engines on Airbus's own biggest model. Tim Clark, Emirates President, said on the sidelines a Berlin industry conference that the 777X was in "good shape". The airline anticipates receiving its...
Passenger Transportation Services
Emirates is optimistic about Boeing 777X but there has been no progress on the Airbus A350 engine dispute
Emirates' president stated that Dubai expects its first Boeing 777X to arrive in June of next year. However, the company has not seen any progress with Rolls-Royce engines, which would allow them to order Airbus A350-1000. Emirates, the world's biggest buyer of wide-body jets, has complained repeatedly about Boeing's 'long' delays and Airbus's engine reliability on its own largest model. Tim Clark, Emirates President, said on the sidelines a Berlin industry conference that the 777X was in "good shape". The airline anticipates receiving its first '777X' in May or June of next year. This is 14 years after Emirates was...
Passenger Transportation Services
There are some flights to the Middle East that have resumed but there is still disruption.
As regional carriers rebuild their schedules following war-related disruptions, some airlines are gradually restoring flights to the Middle East. However, the conflict continues to disrupt larger traffic flows. Middle Eastern airlines increased capacity following severe disruption caused by the Iran War, while many carriers outside of the Gulf still divert Europe-Asia flight to avoid the area. The latest flight information is listed below alphabetically: AEGEAN AIRLINES Thessaloniki-Tel?Aviv flights were cancelled by Greece's biggest carrier until June 26. Dubai flights are cancelled until August 31. Erbil, Baghdad and Erbil flights will be cancelled until July 2. AIRBALTIC AirBaltic, a Latvian airline,...
Passenger Transportation Services
India's ship certification authority takes a tougher stand on sanctioned oil tankers
The head of India's agency for ship safety certification has said that the agency is taking a more aggressive stance against vessels that are involved in evading trade sanctions by canceling the certification of over 200 tankers and ships. The Indian Register of 'Shipping' (IRClass) is one of the world's most prestigious'ship 'certifiers. A vessel being removed from this list could make it difficult for them to obtain insurance or access ports. Arun Sharma, Executive Chairman of the Mumbai-based non-profit organization IRClass, said that since 2023 235 ships have been declassified from its registry. These are mostly oil tankers, but...
Passenger Transportation Services
Fuel price shock widens product gap between US Airlines
Fuel?shocks that hit U.S. Airlines are doing more than just squeezing the margins. They're widening an existing product gap, which may take many years to close, as strong carriers continue to invest in lounges and premium seating, along with technology, international networks, that their weaker competitors may not be able to match. Executives from financially strong carriers such as United Airlines, Southwest Airlines, and Alaska Air spoke at the International Air Transport Association (IATA)'s annual meeting in Rio de Janeiro. They said that a growing divide exists between those airlines who have the ability to upgrade their services and those...
Passenger Transportation Services
Emirates won't cut flights in the Middle East despite pressures
Tim Clark, the airline's president, said that despite the financial pressures from the Middle East war, Emirates does not plan to reduce its capacity. The airline is continuing to fly passengers via Dubai to destinations such as India and Australia. They are taking precautions, including carrying extra fuel. Clark added that he did not care about the extra cost. Emirates also wants to expand in Germany. It says that most stakeholders would benefit from increased long-haul flight capacity. Emirates has been campaigning for more access to Berlin since its inception. Clark said Emirates had secured slots in Berlin but lacked...
Passenger Transportation Services
London is chosen as the European hub for AI-coding startup Cursor.
An executive revealed that the AI coding startup Cursor will be opening its European headquarters in London, and hiring 200 employees, as the demand for automated software development tools grows. Elon Musk’s SpaceX is preparing for a highly anticipated IPO this coming week. In April, it announced that it had acquired an option to acquire the code-generation startup Cursor later this year for $60 billion, or pay $10 Billion for their new partnership as it pushes further into the lucrative'market for AI developer tool. Cursor, based in San Francisco, chose London because of its 'access to multilingual workers and deep...
Passenger Transportation Services
Vietnam Orders Airlines to Accelerate U.S. Deals as Washington Trade Probes Mount
Vietnam's major airlines have been ordered to examine the progress of multi-billion dollar agreements with Boeing and Pratt & Whitney and look at new import deals with American firms, as Hanoi tries to bolster its hand in a?trade negotiating with the United States. The directive was issued on June 5, and then reviewed on Tuesday by the Ministry of Industry and Trade. This ministry is in charge of Vietnam's efforts to "demonstrate" to Washington the fact that the bilateral trade agreements are being implemented. The move follows three separate Trump Administration probes that targeted Hanoi over alleged trade distortions through?excessive...
Passenger Transportation Services
New Zealand's Capital City is hit by a storm, which cancels flights and ferries
On Tuesday, gale-force winds and rough waves battered New Zealand’s capital city of Wellington. This forced ferry and flight cancellations and road closures. Authorities urged hundreds along the?south coast of the city?to evacuate. An airport spokesperson confirmed by email that a light?aircraft was briefly blown over at Wellington Airport after a strong wind gust tipped it onto its wing. It said, "Nobody was hurt and it was quickly rectified." The 'New Zealand Herald' reported that the plane was just landing and the passengers had already disembarked when it tipped. At Wellington Airport, eight flights were canceled. Air New Zealand has...
Passenger Transportation Services
S&P downgrades JetBlue deeper into junk as high fuel costs dent recovery
S&P, a global ratings agency, said that JetBlue Airways was downgraded to "CCC+" on Monday from "B-", pushing it further into junk status as high jet fuel prices?have hampered its recovery. The 'low-cost carrier' has been trying to restore its profitability by cost cutting, network changes, and improving operational reliability. However, higher fuel prices have complicated the turnaround plans. Low-cost and budget airlines are particularly vulnerable to fuel price spikes linked to the Iran War, as they have limited capacity to pass higher costs on to customers without risking their demand in a highly competitive travel market. S&P stated that...
Passenger Transportation Services
Canada launches loan program for airlines to deal with high fuel costs
In a 'Monday statement, the Canadian finance ministry announced that a new loan programme would be launched to assist domestic airlines in dealing with high fuel costs and maintaining operations and jobs. The 'Iran war' has caused jet fuel prices to skyrocket, eroding profit margins and straining balance sheets. This pressure has led governments to extend support to domestic carriers in order to maintain affordable airfares and preserve competition. The Canadian government said that under the 'loan program', eligible airlines will receive up to C$150,000,000 ($107.5 Million) in repaid liquidity support. The government must also balance the need to protect...
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...