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Central America
WTO is at a 'critical junction' and requires deep reforms, EU and CPTPP claim
The World Trade Organisation is at a 'critical juncture' and needs a 'deep re-structuring, said the European Union and the parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership on Friday. On Friday, the EU and CPTPP, which includes 12 countries including Australia, Japan, Canada Mexico, Malaysia, and Britain, met in Cameroon at the WTO ministerial conference. In a joint statement, they stated that "the WTO is at a crucial juncture amid increased tensions in global trading." Both groups of representatives agreed that "urgent reform" was needed for the?WTO. They also said that they want to work together to
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Passenger Transportation Services
Wall St Week Ahead: US jobs data will give an economic outlook for war-torn markets
The U.S. Employment Report next week will be a major economic event for investors. They'll also closely monitor the Iran War, which is now in its second month. The markets will continue to focus on the impact of the Middle East conflict that has slashed a large portion of oil supply. U.S. crude oil?is up over 60% year-to date to almost $100 a barrel. This has led to U.S. gas prices to?surge at $4 per gallon. This could squeeze consumer spending. Investors worried about inflation pushed benchmark Treasury yields to their highest level since last summer. This could put pressure
Passenger Transportation Services
Passenger Transportation Services
US FAA investigates close call between United Jet and Army helicopter in California
Federal Aviation Administration (FAA) of the United States?said Thursday that it was investigating an incident between a United Airlines plane and a Black Hawk Army helicopter in California. The FAA reported that the 'United Boeing 737-8 jet was on final approach at John Wayne Airport, Orange County, California on?Tuesday - 8:40 p.m., when a Black Hawk flew in front of it. Flightradar24 (a flight tracking website) reported that the planes were 525 feet vertically apart. The FAA also investigates whether or not the incident violated their new policy that prohibits visual separation between helicopters and major airports. United stated that...
Passenger Transportation Services
Algerian national airline orders 10 Boeing 737 MAX-8 planes to modernize its fleet
Air Algerie, Algeria's national carrier, announced?on Thursday that it had placed an order for ten Boeing 737 MAX 8 aircraft as part of the country's strategy to develop civil aviation. The airline stated that the acquisition is part of its efforts to modernize their fleet, expand its route network and improve customer service. Five of the aircraft will be delivered this year in the second half, and the remaining five next year. No financial details have been disclosed. Air Algerie said the move was part of a broader strategy to meet the needs of the domestic and international markets and...
Passenger Transportation Services
United Airlines tentatively agrees to a labor agreement with flight attendants
United Airlines flight attendants'reach a tentative labor agreement of five years with the carrier, according to their union, which announced this on Thursday. Cabin crews voted against an earlier proposal last year. The union said that the 'agreement' includes higher base salaries and new restrictions on overnight flights. United Airlines said that the agreement would provide flight attendants with immediate increases?upon the ratification of the contract. The top?pay would reach $100 an hour by the end, making them the highest paid in the industry. The agreement includes a boarding bonus, compensation for long gap between flights and signing bonuses for...
Passenger Transportation Services
US House committees pass sweeping aviation safety regulations
Two U.S. House Committees unanimously passed sweeping aviation reform legislation in response to dozens of recommendations made after the January 2025 collision between an American Airlines regional jet and a U.S. Army Black Hawk helo that killed 67. The House Armed Services Committee passed a 53-0 vote to require collision prevention technology on all military aircraft, except for fighters, bombers, and drones, by 2031. Separately, the House Transportation and Infrastructure Committee voted 62-0 to establish requirements for aircraft and helicopters to be equipped with collision mitigation technology. The legislation addresses deficiencies in the Federal Aviation Administration safety culture. It also...
Passenger Transportation Services
Fuel costs are increasing, so airlines are reducing their prices and cutting back on their outlook.
The U.S. and Israeli war against Iran, which has pushed up jet fuel prices, has shook the global aviation industry. Airlines have been forced to increase fares and revise their financial forecasts. In recent weeks, jet fuel prices have increased from $85-$90 per barrel up to $150-$200 per barrel. This is a major financial blow to an industry that relies on fuel for a quarter or more of its operating costs. Here is an alphabetical list of the ways airlines are responding to this issue: AEGEAN AIRLINES The Greek airline is expecting a significant impact on its first quarter results...
Passenger Transportation Services
Air China's losses will increase in 2025 due to fare pressure and the risks of an Iran war.
Air China reported a loss of $1.77 billion ($256.17 millions) on Thursday, reversing signs that the carrier was recovering. The?country's flag carrier?was hurt by market competition. The company estimated a loss for the full year of 1.3 to 1.9 billion yuan, but it was significantly higher than its 2024 net loss of 233 millions yuan under IFRS standards. The airline posted a profit of 3,64 billion yuan during the 'fourth quarter, after a profitable third quarter fueled by the 'peak summer season. Air China's annual report stated that it will be focusing on efficiency and profitability this year. It also...
Passenger Transportation Services
As the Middle East conflict escalates, airlines cancel more flights
The global air travel industry is still severely affected by the Iran War. Many people are unable to travel to their destinations as planned after major Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi were closed. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest Greek?carrier cancelled flights from Tel Aviv to Beirut, Amman and Erbil until April 22. Baghdad and Erbil were also canceled until May 24. Dubai flights have been canceled until April 19, and Riyadh flights until April 18. AIRBALTIC All flights to Tel Aviv have been cancelled by Latvia's AirBaltic until...
Passenger Transportation Services
After chick hatches, Dutch confiscate 261 eggs suspected to be wild parrots at Schiphol
The Netherlands Food and Product Safety watchdog announced on Thursday that 261 suspected wild parrot eggs were seized at Amsterdam's Schiphol Airport after they were found?in the luggage of a couple flying from Central America into Asia. The eggs were discovered by customs officers on the 24th of March,?packaged individually in paper then grouped into bundles and wrapped in T-shirts. They heard chirping when they opened one of the bundles and found a parrot chick hatching. The bird was too young to identify its species. The Royal Military Police arrested the two travellers whose nationality and identity were not revealed....
Passenger Transportation Services
The US-Israeli War on Iran has disrupted global business
The U.S. and Israeli war against Iran has rattled businesses around the world, driving up energy costs, squeezing the supply of vital raw materials, and raising concerns about the reliability of the trade routes that are critical to the flow from goods such as food to car parts. Here are the major disruptions that have occurred so far: TRAVEL CHAOS Tens of thousands flight cancellations have been reported worldwide. Schedule changes and reroutings are also common. The Middle East has had its airspace closed due to threats from drones and missiles. The global aviation industry is experiencing its worst disruptions...
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The Iran War dampens interest in early summer tourism to Cyprus and Greece
The Iran conflict has led to a rise in cancellations of tourists from Cyprus The forecast for Cyprus' economic growth has been cut in the face of conflict * Greece and Turkey both see a slowdown in bookings By Michele ?Kambas LIMASSOL (Cyprus), March 26th, 2014 (Rtrs). The Iran conflict has caused a spike in cancellations of summer tourists in Cyprus as well as other countries that rely heavily on them. On February 28, the U.S. and Israel launched an attack on Iran, as Cyprus's tourism sector was about to reopen after winter. On March 2, as Iran launched counter-strikes...
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Wall Street believes US corporate earnings can withstand rising oil prices
Wall Street believes that strong corporate earnings will boost stock prices, which have fallen since the Iran War began. They also believe that oil?prices will surge, reigniting inflation fears. Oil prices have risen by?more than 30 percent since the beginning of the war at the end February. LSEG data shows that despite the turmoil, the expected earnings growth for the S&P 500 in the first quarter is 14%. This compares to a?14.4% growth at the beginning of the year, and a 12.4% increase in the October 1 estimate. "So much happens, but nothing is happening." In an interview, Krishna Chintalapalli...
Passenger Transportation Services
Somalia's tuk-tuks stall as Iran war drives fuel price spike
Fuel prices are soaring in Somalia’s capital due to disruptions in oil shipments linked to the conflict with Iran. Many drivers in Mogadishu claim that they cannot keep their three-wheelers running because of the rising fares. Due to the conflict, around one-fifth of all oil and natural gas liquefied is now being shipped via the Strait of Hormuz. This has left African nations exposed and with rising fuel and food prices. There are no passengers. People walk or stay at home. "We raised the fares because of fuel price increases," Hasan Suleiman said in Mogadishu. The city is a small...
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...