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Hamas insists that Witkoff’s Gaza ceasefire plan must lead to an end to the war
Hamas announced on Saturday that it had responded in kind to a ceasefire offer made by Steve Witkoff, the Middle East envoy for U.S. president Donald Trump. The proposal included a call for an end to war which was previously a redline for Israel. In a press release, the Palestinian group stated that it would release 10 living hostages in exchange for Israel releasing a number Palestinian prisoners. This is in line with Witkoff’s proposal. Hamas' statement continued: "This proposal is aimed at achieving a permanent ceasefire and a complete withdrawal from Gaza Strip. It also aims to ensure that aid reaches our people and families in Gaza Strip." The response was given "after a series of national consultations". Hamas did not make any mention of its desire to amend the proposal in the statement, but an official Palestinian familiar with the discussions said that Hamas requested some changes while responding positively. The office of the Israeli Prime Minister did not respond immediately to a comment request. Israeli media reported that Benjamin Netanyahu had told the families held hostage in Gaza by Israel that Israel accepted the Witkoff deal. The office of the prime minister declined to comment. Previous attempts to restore the ceasefire, which broke down in March, have been stymied by Hamas's deep differences with Israel. Israel demanded that Hamas completely disarm, dismantle itself as a military force and governement and release all 58 of the hostages who are still in Gaza. Hamas rejects the demand that Israel give up its arms and insists on pulling its troops out from Gaza to end the war. Israel's campaign in Gaza was launched in response to Hamas' attack on its southern border in October 2023 that resulted in the death of 1,200 people, and 251 Israelis being taken as hostages in Gaza. Gaza's health officials claim that the subsequent Israeli military operation has resulted in more than 54,000 Palestinian deaths and left Gaza in ruin. (Reporting and editing by Nidal al-Mughrabi, Menna Alaa el-Din)
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Harvard's US funded defense projects have totaled $180 Million in recent years.
According to an analysis by a defense software firm, when the Trump administration cut federal funds to Harvard University it ended abruptly an estimated $180 millions that the federal government poured into U.S. Military projects at Harvard over the past few years. In April, the Trump administration announced that it would freeze $2.2 billion worth of grants and $60 millions in contracts for Harvard University. Donald Trump stated that he wanted to make changes at Harvard and other universities in the U.S. because, according to him, they had been taken over by "woke" leftist thinking and have become bastions for antisemitism. Among many other topics, the study found that some of the grants were paid to research into lasers and counter-weapons of mass destruction, as well as medical research. This abrupt stop ended projects that had been running for years and halted programs at several universities. Not just Harvard. According to an analysis done by Govini defense software, in 2025, approximately 103 grants worth $14 million will come to a grinding halt. U.S. officials, for example, ended a $6 million Pentagon-funded research project by Professor Katia Bertoldi at the Harvard School of Engineering and Applied Sciences, which developed shape-changing structures that could be used in military applications, two weeks ago. This was despite it being a critical point in its research cycle. Bertoldi explained, "We are now in the third year, we have all our tools set up, we're gaining momentum and it has stopped." She was funded through the Multidisciplinary University Research Initiative of the Department of Defense to develop technology based on origami, which would eventually lead to reconfigurable radio antennas and deployable shelters similar in function to field hospitals. According to an analysis by Govini, since 2020, the Pentagon, Defense Advanced Research Projects Agency, and all branches of the U.S. Military have awarded Harvard 418 grants worth $180 million. A Pentagon spokesperson said that Secretary of Defense Pete Hegseth had "directed the termination" of a number of programs, contracts, and grants which were not in line with the Department priorities. This was to reduce wasteful spending, to implement President Obama's orders, to reallocate the savings to mission critical priorities. Govini's findings revealed that the Army provided the majority of funding for military medical research as well as basic and applied scientific research. Trump complained on Truth Social about the federal grant freeze. He said that Harvard had hired "Democrats" and "radical left idiots". Trump announced on Monday that he was considering redirecting billions in grants for scientific and engineering research from Harvard to trade school. Harvard sued for the restoration of funding. It called the cuts unconstitutional attacks on its right to free speech. Research cancellations have a negative impact on extensive networks of collaboration. Bertoldi's research project involved researchers from Georgia Tech and the University of Pennsylvania. Scientists warn that these cuts could have strategic implications, as China has invested heavily in research. Bertoldi stated, "In China as far as I'm aware, this type of research is supported by colleagues who moved back to China." (Reporting from Mike Stone in Washington, Editing by Matthew Lewis.)
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Harvard's US funded defense projects have totaled $180 Million in recent years.
According to an analysis by a defense software firm, when the Trump administration cut federal funds to Harvard University it ended abruptly an estimated $180 millions that the federal government poured into U.S. Military projects at Harvard over the past few years. In April, the Trump administration announced that it would freeze $2.2 billion worth of grants and $60 millions in contracts for Harvard University. Donald Trump stated that he wanted to make changes at Harvard and other universities in the U.S. because, according to him, they had been taken over by "woke" leftist thinking and have become bastions for antisemitism. Among many other topics, the study found that some of the grants were paid to research into lasers and counter-weapons of mass destruction, as well as medical research. This abrupt stop ended projects that had been running for years and halted programs at several universities. Not just Harvard. According to an analysis done by Govini defense software, in 2025, approximately 103 grants worth $14 million will come to a grinding halt. U.S. officials, for example, ended a $6 million Pentagon-funded research project by Professor Katia Bertoldi at the Harvard School of Engineering and Applied Sciences, which developed shape-changing structures that could be used in military applications, two weeks ago, despite it being at a critical point in its cycle of research. Bertoldi explained, "We are now in the third year, we have all our tools set up, we're gaining real momentum and it has stopped." She was funded through the Multidisciplinary University Research Initiative of the Department of Defense to develop technology based on origami, which would eventually lead to reconfigurable radio antennas and deployable shelters similar in function to field hospitals. According to an analysis by Govini, since 2020, the Pentagon, Defense Advanced Research Projects Agency, and all branches of the U.S. Military have awarded Harvard 418 grants worth $180 million. A Pentagon spokesperson said that Secretary of Defense Pete Hegseth had "directed the termination" of a number of programs, contracts, and grants which were not in line with the Department priorities. This was to reduce wasteful spending, to implement President Obama's orders, to reallocate the savings to mission critical priorities. Govini's findings revealed that the Army provided the majority of funding for military medical research as well as basic and applied scientific research. Trump complained on Truth Social about the federal grant freeze. He said that Harvard had hired "Democrats" and "radical left idiots". Trump announced on Monday that he was considering redirecting billions in grants for scientific and engineering research from Harvard to trade school. Harvard sued for the restoration of funding. It called the cuts unconstitutional attacks on its right to free speech. Research cancellations have a negative impact on extensive networks of collaboration. Bertoldi's research project involved researchers from Georgia Tech and the University of Pennsylvania. Scientists warn that these cuts could have strategic implications, as China has invested heavily in research. Bertoldi stated, "As far as I'm aware, Chinese colleagues who moved back to China have a lot of interest in this type of research." (Reporting from Mike Stone in Washington, Editing by Matthew Lewis.)
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Newark Airport runway to reopen after construction on Monday
The runway at Newark Liberty International Airport is scheduled to reopen Monday, nearly two weeks before schedule, following several weeks of chaos caused by equipment failures, runway construction, and a shortage of air traffic control personnel that led to flight cancellations, delays, and diversions, U.S. Transport Secretary Sean Duffy announced. Manhattan is located about 14.5 km (9 miles) away from Newark Liberty Airport, which is one of New York City's main airports. Duffy announced Friday that the runway would reopen two weeks earlier than the original June 15 deadline. The Federal Aviation Administration reduced flights last week to 28 arrivals and 28 departures an hour maximum until runway construction was completed. The maximum rate of arrivals and departures will then increase to 34 per minute until October 25, after which it will be increased again. Duffy, who spoke this week, said that operations at Newark had improved after the federal government implemented flight cuts in response to a series major disruptions. Newark can handle up to 77 passengers in normal circumstances Flights per hour Duffy stated, "If you book I think you will fly to Newark -- You won't see what you saw two weeks ago." Newark Airport is the hub of United Airlines. The airline operates almost 70% of all flights at this airport. United Airlines has dramatically increased its flights. Cut flights at the airport Last year, the FAA relocated Newark's control airspace. Philadelphia addresses staffing issues and congestion in New York City-area traffic. Newark's airspace is monitored by a facility in Philadelphia. The facility has had numerous technological issues. Newark has often experienced delays of 5 or more minutes in the last few weeks. More hours and daily dozens of canceled or delayed flight. The FAA employs approximately 3,500 air traffic control officers nationwide Below target staffing levels Duffy explained that the area in charge of Newark had a target staffing level for certified controllers of 38, but only 22 are currently on duty, with six of them on medical or stress leave. David Shepardson, Chizu Nomiyama, and David Gregorio edited the report.
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Cheniere Energy announces maintenance work has begun at Sabine Pass LNG Plant
Cheniere Energy announced on Friday that it had begun the annual maintenance on its largest U.S. LNG facility, Sabine Pass in Texas. Sabine Pass's annual capacity is 30 million metric tons per annum. It has been a key factor in the United States becoming the largest LNG exporter in the world. A Cheniere spokesperson informed by email that "planned maintenance activities are underway at Sabine Pass." Prices tend to rise when U.S. LNG production declines. It is anticipated that the annual maintenance work will reduce U.S. LNG output for a few weeks. Cheniere's Sabine Pass plant, which produces 4.5 bcfd of gas per day, is on course to fall from 3.9 bcfd last Thursday to a 11-month-low of 3.7 bcfd this Friday. Meanwhile, feedgas for the 3.9 bcfd Corpus Christi plant in Texas will drop from 2 bcfd Thursday to a 2-week-low of 1.6bcfd Friday. Energy traders expect the total LNG feedgas in June to be below April's record-high, with Cheniere planning maintenance for about three weeks on Sabine's liquefaction train around June 223rd. Reporting by Curtis Williams, Scott DiSavino and David Gregorio from Houston; editing by Chris Reese & David Gregorio).
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Brazil wind energy company receives approval for data center with TikTok's interest
Casa dos Ventos, a wind farm developer in Brazil's northeast, has received regulatory approval for a 300 megawatt project. The company had been in discussions with TikTok owner about a large data center investment. Casa dos Ventos reported on Friday that Brazil's national grid operator has given the green light for the project to be connected at the Pecem Port complex in Ceara. The company said that the total investment for infrastructure and equipment in the data centers will be 50 billion reais (8.7 billion dollars). A person with knowledge of the negotiations said that the regulatory approval would speed up the talks with major technology firms, including ByteDance the Chinese parent company for TikTok. First reported last month, the Chinese company is eyeing a major Brazilian investment in data centers with Casa dos Ventos. Casa dos Ventos has partnered with TotalEnergies for its wind energy portfolio by 2022. After an initial rejection, a technical reassessment was conducted by the Brazilian Ministry of Mines and Energy and the national grid operator. This cleared the way for the project to be approved. Casa dos Ventos has announced that it will now start construction during the second half of the year, and begin operation in the second semester 2027. The company stated that its project would use closed-loop cooling systems to reduce water consumption, addressing concerns raised by some data center projects. Casa dos Ventos estimated that the water consumption for the first phase will be about 0.045% the demand of residential housing in the nearby city of Caucaia.
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Brazilian airline Azul plans to exit Chapter 11 by early 2026
Fabio Campos said in a Friday press conference that the Brazilian airline Azul hopes to end Chapter 11 proceedings by early next year. Campos responded that Azul would now concentrate on its financial restructuring. Azul filed for Chapter 11 in the United States this week. Abra, Gol's majority shareholder, and Colombian Avianca announced to Azul in January that they had signed an non-binding Memorandum of Understanding with the intention of merging their businesses in Brazil. Campos noted also that the MoU between Azul and Gol remains valid, even though it is not Azul's priority at this time. Azul finished this week its first Chapter 11 hearing. The court approved the carrier's access to $250 million from its $1.6 billion in debtor-in possession financing. The company stated that the amount combined with other judicial approbations and revenue generated by ongoing operations will provide sufficient liquidity to sustain uninterrupted operations. Campos said that Azul does not plan to lay off massive numbers of employees in light of its financial restructuring. Sales and operations will remain unaffected. Before filing for Chapter 11 protection Azul had agreements with key stakeholders including existing bondholders and aircraft lessor AerCap. It also entered into agreements United Airlines and American Airlines. The executive also noted that other lessors are in talks, besides AerCap. Azul is the latest Latin American airline to declare bankruptcy. It joins a long list of airlines that have been affected by the COVID-19 epidemic.
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Brazil Power Co gets approval for data center with TikTok interested
Casa dos Ventos, a wind farm developer in Brazil's northeast, has received regulatory approval for a 300 megawatt project. The company had been discussing an investment of a large data center with TikTok owner. Casa dos Ventos reported on Friday that the Brazilian national grid operator (ONS), has given the green light for the project to be connected at the Pecem Port Complex in Ceara. Casa dos Ventos said that the total investment for infrastructure and equipment in the data centers will be 50 billion reais (8.7 billion dollars). A person with knowledge of the negotiations stated that the ONS approval would speed up the talks with major tech companies, including ByteDance - the Chinese parent company for TikTok. First reported last month, the Chinese company is eyeing a major Brazilian investment with Casa dos Ventos. Casa dos Ventos has partnered with TotalEnergies in 2022 on its wind energy portfolio.
India's diesel exports in May to Southeast Asia are at a multi-year high on the back of higher margins
According to three sources and shiptrackers, India's diesel exports for May will be at least four times higher than they were in the previous year. This is because traders are looking to make more money in Asia, and higher freight costs have deterred shipments from Europe.
Diesel exports from India - one of the biggest suppliers in Asia - are lowering spot premiums in Asia, putting pressure on derivatives markets and reducing fuel availability in Europe.
Shiptracking data from LSEG Kpler Vortexa, and two trade sources revealed that the India-Southeast Asia route saw a shipment increase of 600,000 metric tonnes (4,47 million barrels) this month.
Kpler data revealed that such levels will last until the end of 2021.
The data revealed that the majority of volumes were headed for Singapore or Malaysia.
LSEG data revealed that the amount of Indian diesel destined for Europe in May was approximately 500,000 tons.
James Noel Beswick, analyst at Sparta Commodities, said that the re-direction east of Indian diesel barrels has had two effects.
He said that the first thing it did was to flood the Singaporean market. This led to a rapid rebound in local stocks and put downward pressure on diesel prices since late April.
He said that the decline in Indian supply has caused June ICE gasoil to increase for Europe.
Asian cash premiums for 10-ppm sulphur diesel
ARBITRAGE
LSEG data shows that the average discount for the east-west spread in April and may was $22 per ton and $20 per ton respectively. Traders said such levels made it slightly more profitable for sellers if they looked east rather than west.
They added that lower shipping costs helped to push more Indian products into Southeast Asia.
SSY Tanker's data on LSEG Workspace shows that the cost of chartering a medium-range ship carrying 40,000 tonnes of diesel along the India-Northwest Europe routes jumped from $2.05million last month to $2.35million in the past seven days, or $59 a ton.
The data revealed that, in comparison, the shipping costs for a vessel of similar size on the India-Singapore routes were less than one million dollars.
Ivan Mathews of Vortexa, head of APAC Analysis, stated that India's diesel output also increased in May, after Reliance Industries restarted its crude unit at Jamnagar. He added that the early start of monsoon season may have dampened domestic consumption.
He said that these factors resulted in more diesel barrels being available for export.
Two Singaporean trade sources have said that India is likely to export more diesel in the next month, as monsoon season intensifies. Two Singapore-based trade sources said that the local demand may drop by more than 500,000 tons.
(source: Reuters)