Latest News
-
Swiss stocks: Factors to be on the lookout for March 30
Here are some of the key factors that could affect Swiss stocks on Monday: U.S. ?TARIFFS Following a preliminary agreement on tariffs reached last year, the Swiss President Guy Parmelin stated that trade?talks? between Switzerland and the United States would continue past March. According to an internal memo viewed by. NESTLE Nestle, the Swiss food giant, said that thieves stole 12 tons of KitKat bars from Europe last week. ANALYSTS' ?VIEWS * JP Morgan increases?target?price from CHF155 to CHF160 * SKAN GROUP / AG - Berenberg reduces?target price from CHF 67 to CHF 60 ECONOMY Swiss KOF indicator due at 0700 GMT SNB sight deposit due at 8am GMT (Reporting from Zurich and Gdansk Newsrooms)
-
Sources say that European airlines likely exceeded the 2% green jetfuel target set last year.
A regulatory official and source said that Europe's aviation industry may have exceeded a 2% mandate in 2025 for the use of green jet fuel. This would boost airlines' green credentials, as the region attempts to reduce its reliance on hydrocarbons. This achievement was previously unknown and will be reported in a later report. It represents a dramatic change from the previous year when only 0.6% of people had adopted it. Airlines warned repeatedly that they would miss their targets. In an interview with Cologne's Florian Guillermet (head of the regional aviation safety agency EASA), which monitors the implementation?of targets, he said: "We think we will be at, or even above, 2% by 2025." After the summer, EASA will release official data about last year's "sustainable jet fuel" (SAF) usage in Europe. The use of jet fuel has become more prominent as the 'Iran war' raises oil prices, disrupts supply and increases demand. Separately, a senior European Union official - who asked not to be named - said that the region was likely over the threshold. "We will finish at over 2% in Europe by 2025." "We see a clear response from the supply side to the mandate," said the person. In 2025, the EU requires that 2% of fuel available at regional airports be SAF. This will increase to 6% by?2030. From 2030, synthetic SAF (eSAF), which is a form of SAF, must represent 1.2% of total fuel. This will rise to 5% by 2035. Airlines for Europe, whose members include Ryanair,?Lufthansa, and British Airways' owner IAG, has urged regulators not to increase the eSAF requirements, claiming that supply is limited and cost are high. The European Commission said that it does not intend to roll back the eSAF directive, but it acknowledged more needs to be done in order to'make fuel affordable and available. "The mandate is what it is, and so is the situation." Guillermet reiterated comments made by the EU Transport Commissioner last week. The EU official also agreed that it is important to adhere to the mandates. "We have proved so far that our right." (Reporting by Joanna Plucinska. (Editing by Adam Jourdan, Mark Potter and Mark Jourdan)
-
Moldovan opposition parties contest the merits of the state of emergency
Moldovan opposition parties demanded on Sunday an explanation from the pro-European Moldovan government regarding its imposition of a "sweeping energy state of emergency" over a damaged electricity line that took four days to repair. Last Tuesday, the Eastern European country’s?parliament?approved a 60-day energy state of an emergency to streamline decision-making. The government had blamed Russian attacks on neighbouring Ukraine after knocking out the Isaccea - Vulcanesti electricity line. Moldova's Energy Ministry announced that the line, which runs from Romania to Moldova, and crosses 40 km of Ukrainian territory, was restored Saturday. This line is responsible for 70% of the country's energy needs. Igor Dodon of the prorussian Socialist Party wrote on Telegram that the state of 'emergency' was nothing but a sham and they were wrong not to support it. Dodon demanded that the state of emergency be immediately repealed and the pro-European Moldovan Government explain how they used the extra powers granted by the measure. Ion Ceban is the mayor of Chisinau and he also supports the repeal of the emergency. He has called for consumer protection measures in this former Soviet republic. Ceban is often at odds with government, as he leads an opposition party. The Prime Minister, Alexandru Munteanu, had asked the parliament to support the measure, which would allow the government to take decisions without having to seek the approval of the chamber, where the Party of Action and Solidarity holds a majority. Munteanu stated that Ukrainian specialists have promised to repair the line in five to seven working days. Igor Grosu described the Russian strikes by the speaker of the parliament as war crimes. Maia Sandu has criticized Russia's four-year war on Ukraine. She has also pledged to bring Moldova into Europe by 2030. She also accuses Moscow that it is trying to topple her government. Sandu, according to Moscow, is provoking hostility against Russia and its people. (Reporting and writing by Alexander Tanas, Ronald Popeski, and Paul Simao).
-
Fire breaks out in Russia's Ust-Luga Port after drones from Ukraine cause damage
Russian officials reported that the Ust-Luga port, which is one of Russia's largest petroleum export outlets, was damaged by a Ukrainian drone attack on Sunday, which ignited a fire. Ukraine intensified drone strikes on Russia's oil export infrastructure in the last month. These attacks included Novorossiysk, on the Black Sea, and?Primorsk, and Ust-Luga, on the Baltic Sea. These attacks caused severe oil supply disruptions for Russia, which is the second largest oil exporter in the world. They also hit Moscow at a time when oil prices were above $100 per barrel because of?the Iran War. The Governor of Russia's Leningrad Region in the north said that there were waves of Ukrainian drone strikes on the area, and a fire broke out at the port?Ust-Luga which was also attacked by drones Wednesday. According to sources, the port operated by Russian oil monopoly Transneft handled around 700,000 barrels of oil per day. In 2025, it is expected that 32.9 million tons of oil-based products will be shipped. Ukraine's SBU agency for security said that?long-ranged drones hit an oil terminal in Ust-Luga. In a statement, it said that the strike had caused "serious damage" to the port and set off a fire. I was not able to verify the extent of the damages immediately. Reporting by. (Editing by Guy Faulconbridge, Mark Potter and Mark Faulconbridge)
-
Oman claims that no one has claimed responsibility for the attacks on its territory
Oman's Foreign Ministry?said Sunday that it?"condemns" attacks on its land, adn that no one has claimed responsibility. Authorities are investigating "sources and motivations" of the attacks, without giving any further details or naming a specific attack. Oman reported on Saturday that a worker had been injured in a drone attack at the Salalah port of the Gulf nation. Danish container shipping company Maersk later announced it temporarily halted operations?at the Salalah port?after the attack. Iranian media reported that Iran's Revolutionary Guards claimed on Saturday they had targeted a U.S. Support vessel "considerably" away from Salalah Port. The statement continued, "As we have stated previously, the Islamic Republic of Iran respects Oman's national sovereignty." On March 11, drones ?struck oil storage facilities ?at Salalah port. Masoud Pezeshkian, the Iranian president, told Oman's Sultan in a telephone call that an investigation would be conducted into this incident. (Reporting and editing by David Goodman, Menna Alaa el-Din, Jaidaa taha)
-
After being located by the Mexican Navy, two humanitarian aid vessels safely reach Havana
The Mexican Navy reported that two sailboats carrying humanitarian aid from Mexico reached Havana safely on Saturday. They had been delayed by bad weather, and were briefly reported as missing. After authorities watched their final approach, the navy confirmed that the sailboats had docked in Cuba's capital. The Mexican Navy reported earlier that a maritime surveillance plane spotted the sailboats after they were reported missing on Thursday. They were located on 'Friday, about 80 nautical miles (148km) northwest of Cuba. The crews said they were in good shape but that the 'unfavorable' weather conditions, especially winds, had slowed them down. The two boats were part of a convoy that was delivering food, medicine and baby formula to the Caribbean’s largest island. This is despite a U.S. blockade of oil shipments, which has caused power outages to worsen. A spokesperson for Nuestra América Convoy stated that the vessels were continuing their journey towards Havana. The convoy is on track to fulfill its mission - delivering desperately needed humanitarian aid for the Cuban people. The sailboats that were supposed to arrive between March 24 and 25 in Havana, Cuba, have not arrived since they left Isla Mujeres on Saturday. U.S. Coast Guard told French Press Agency AFP that the boats were found on 'Friday but later retracted its statement saying a search is still 'under way. This caused confusion. Nuestra America, or "Our America", is a coalition of nearly 300 organizations, including non-governmental groups and political parties, from over 30 countries. The group has sent approximately 20 tons of aid to Cuba by air and sea, including bicycles, solar panels, food, medicine, and solar panels. (Reporting and editing by Joe Bavier; Alistair Bell; Rod Nickel, Natalia Siniawski. Additional reporting by Dave Sherwood in Mexico City.
-
Vice President Vance is the winner of CPAC's straw-poll for 2028 Presidential election.
The 'Conservative Political Action Conference is the top pick?this year? for?the next?U.S. A straw poll conducted on Saturday revealed that the next president of the United States will be Vice President?JD Vance. Vance was chosen by 53% of the attendees at this year's CPAC Convention. Secretary of State Marco Rubio was ranked'second' with 35%, at CPAC. This is a major gathering for Republican lawmakers, activists, and presidential hopefuls. CPAC, who is holding the event this year in Grapevine Texas, attracts a large number of conservative Republicans. The straw poll it conducts each year is not necessarily a reliable indicator of who will be the nominee. The poll is a snapshot into where the 'energy' currently lies in core supporters of Donald Trump's Make America Great Again movement. Trump is not eligible to run again in 2028, as he is currently serving his second term. (Reporting and editing by Sergio Non, David Gregorio, and Nathan Layne from Grapevine Texas)
-
Kuwait airport damaged by drones. Radar system damaged. No casualties reported
Kuwait 'International Airport 'was targeted by multiple drone attacks Saturday, causing significant damage to the radar system, but resulting in no injuries, according to state news agency KUNA, citing Kuwait Civil Aviation Authority. Later, the spokesperson for the authority said that the attacks were perpetrated by Iran and its proxies as well as the armed groups it supports. Kuwait's fire department, meanwhile said a??fire? that broke out??? in fuel tanks at an airport on Wednesday after a previous drone assault had been extinguished AFTER 58 CONSECUTIVE HOURS, KUNA reported??on Saturday?. Tehran launched strikes on Israel, as well as on Gulf Arab states that host U.S. military bases. Israel has launched attacks on Hezbollah fighters who are aligned with Iran in Lebanon. The Houthis of?Yemen have started launching missiles against Israel to?support Iran.
Trump reverses his course on Cuban oil embargo, allowing Russian tankers to pass
Donald Trump, the U.S. president, announced on Sunday that he would no longer block oil shipments from any country to Cuba. He said he has "no problems" with anyone sending crude into Cuba. This was as a Russian ship approached a Cuban harbor?with an urgent shipment.
According to data from ship tracking, a sanctioned Russian vessel that is part of the "shadow fleet" was off the coasts of eastern Cuba Sunday. It was expected to arrive in port on Monday. This will be a lifeline to the economy of Cuba, which has been nearly brought to a standstill by a defacto oil embargo imposed by Washington.
After the overthrow of Venezuelan President Nicolas Maduro, on January 3, the U.S. halted Venezuelan oil exports. Trump also threatened to impose punishing tariffs against any other country sending crude to Cuba. Mexico, along with Venezuela, was the biggest supplier of crude oil to Cuba. It then stopped its shipments.
According to President Miguel Diaz Canel, Cuba hasn't received an oil tanker for three months. This has exacerbated an energy crisis, which has resulted in strict rationing and a series of blackouts throughout the 10 million-person country. Cuban health officials claim that the crisis has led to an increase in mortality rates for cancer patients and children, particularly.
Trump told reporters on Air Force One that he sympathized with the Cuban people and their need for energy. He said he wasn't concerned about any help provided to the Communist government of Havana, as he believed it would fall soon.
Trump said, "I have no issue with a country sending oil to Cuba, right now, whether it is Russia or not."
"Cuba has finished. They have a bad government. Trump stated that they have a very corrupt and bad leadership. "Whether or not we get them a boat full of oil is not important," he said. "I would prefer to let it in, regardless of whether it was Russia or anyone else, as the people need heating and cooling, and all the other things you need," Trump said.
Trump, while expressing concern for Cubans has made a number of threats against the Cuban Government and stated that he will turn his attention more to the country located 90 miles (150km) away from U.S. Shores once he deals with Iran.
OIL CARGO COULD LAND UP CUBA for a month
In March, the U.S. temporarily loosened sanctions against Russia in order to improve the flow of oil around the world that had been restricted due to the U.S./Israeli war on Iran. This measure did create exemptions that explicitly prohibited transactions with Cuba, Iran, North Korea, and Crimea.
LSEG's ship monitoring data shows that the Anatoly Koodkin left Russia's Primorsk Port with 650,000 barrels. Some reports claimed the vessel held 730,000 barrels.
Cubadebate, the official Cuban media outlet, called the Russian shipment an 'direct challenge to the U.S. Oil Blockade' after the Russian Navy escorted a sanctioned vessel across the English Channel to the Caribbean.
According to The New York Times, which cited a U.S. government official who was 'briefed' on the issue, the U.S. Coast Guard permitted the vessel to travel to Cuba. However, the reason for this decision is not known. The New?York Times, citing a U.S. official?briefed on the matter, reported that the U.S. Coast Guard allowed the sanctioned vessel to sail to Cuba, though it was unclear why.
Brett Erickson, of consulting firm Obsidian Risk Advisors, said that the arrival of Anatoly Koodkin is significant because the British government allowed another ship from Russia’s shadow fleet to pass through English Channel last week after it announced they had authorized their military to board ships passing through UK water.
He stated that Russia had received a "very large?windfall" from the war in Iran, while also providing Cuba with much-needed?oil. The strategic importance of Cuba to Moscow has grown since the fall?allies like Syria and Venezuela as well as the attack on Iran.
Havana does not require a lot of oil to run. Erickson noted that the Kolodkin has about two-and-a-half weeks' worth of oil. However, this can be increased to a total of about one month, if Cubans are rationing. Steve Holland reported from Air Force One; Daniel Trotta was in Carlsbad in California; Marianna Pararaga was in Houston; and Dave Sherwood was in Havana. Daniel Trotta wrote the article; Costas Pitas edited it; Jonathan Oatis and Paul Simao were responsible for editing.
(source: Reuters)