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Rutte: NATO will launch A400M strategic airlift fleet
Mark Rutte, NATO Secretary General, announced on the sidelines a NATO summit held in Ankara that NATO would launch a strategic 'fleet' of Airbus A400M Transport planes. The alliance will also add an A330 MRTT Tanker to its fleet. He spoke at a defence industry event where allies announced arms deals worth billions to show they were heeding U.S. requests to spend more on Europe's defense before joining President Donald Trump in the evening for a summit. Rutte stated that air power is crucial to bolstering our deterrence, and defence. The MRTT project is based in Eindhoven (Netherlands) and has nine A330s that can be used as passenger or troop aircraft. The military alliance can fill in the gaps left by the United States' reduction of its contribution to its defence plans with the addition of a?another?tanker. NATO aims to increase the fleet size to 12 ships in the future. The programme includes Belgium, Czechia. Denmark, Finland. Germany, Luxembourg. Netherlands, Norway, and Sweden. According to a military source, the U.S. does not disclose details about its cuts. However, they include refuelling fighters, drones, and ships as well as refuelling planes. Trump has accused European governments for years of over-relying upon the U.S. through NATO to protect them. Airbus, the company that builds the A400M airlifter as well as the A330 jet on which the A400M tanker is based said the A400M shared fleet would include?Belgium?, Britain?, France?,?Spain?, Turkey?, Croatia?, and Poland?. This announcement is a major boost for A400M. It was developed to fill a European gap in military cargo and troop transportation to difficult terrain. Exports are slow, leaving doubts about its future. Airbus has lowered its earlier warnings about the future of A400M production. The pool of aircraft would be drawn initially from those already in service and then from others in the pipeline. A spokesperson confirmed that the operation could lead to future orders, though it is premature to speculate how many and when. (Reporting and editing by Bart Meijer, Andrei Khalip, Tim Hepher)
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Defense companies sign agreements at NATO Industry Forum
Defense companies from NATO member countries gathered in Ankara, Turkey on Tuesday to attend an industry forum that was held along with the annual summit of the alliance. Here are some of the latest deals: SAAB, the Swedish defence equipment manufacturer, said NATO would begin formal negotiations to acquire up to 10 GlobalEye early warning and control airborne aircraft. CEO Micael Jönsson said that the company could begin deliveries as early as 2030 and that the final price would be between $400 million and $450 million for each aircraft. LOCKHEED MARTIN AND RHEINMETALL On 'Tuesday, the two 'defence companies' signed a Memorandum of Understanding to produce ATACMS missiles jointly in Germany. This would be the first time that the short-range missile has been manufactured outside of the United States. NORTHROP GUMMAN NATO Secretary general Mark Rutte announced that allies would buy up to five MQ-4C Triton surveillance drones from Northrop Grumman. Norway, Finland Germany and Denmark signed a letter of intention for the purchase. Rutte'said that AIRBUS NATO would launch a strategic?airlift?fleet of A400M transport aircraft and expand their existing A330 MRTT?and tanker /transport fleet by an additional aircraft. ISAR AEROSPACE The German company Isar Aerospace has signed a contract to provide access to launch infrastructure and services at Spaceport Nova Scotia, and to improve the orbital launch readiness of Spaceport Nova Scotia. This was announced by NATO in a press release.
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Oil Gains after Vessel Attacks near Strait of Hormuz
Prices of oil rose Tuesday after reports of an attack on vessels near the Strait of 'Hormuz rekindled fears that shipping along the vital energy transit route could be disrupted. Brent crude futures rose 89 cents or 1.24% to $72.88 per barrel while U.S. West Texas intermediate crude gained 71 cents or 1.04% to $69.26 per barrel at 0939 GMT. Ole Hansen, analyst at Saxo Bank, said: "This morning's dominant theme is the shooting of a ship in the Strait of Hormuz." This is bringing back some geopolitical risk premium into the price. It's not much compared to what we've seen before, but it is the main factor?behind bids in the market." If there is any further increase, $75 would be the next level to consider ahead of $80. A tanker flying the Saudi flag was damaged in the Strait of Hormuz, near the coast of Oman. This happened after a tanker carrying Qatari Liquefied Natural Gas was also struck. Four sources familiar with the situation said that a Qatari LNG tanker sustained significant damage when it was struck as it?travelled through the Omaniside?of the Strait on Tuesday. This follows reports that Iran's Revolutionary Guards had fired missiles overnight at ships passing through the waterway. Iran's Foreign Minister said that if U.S. threat continue, then talks to reach a final agreement between Tehran and Washington won't take place. This comes after U.S. president Donald Trump threatened to "finish the deal" without a deal. Investors monitor the talks between the U.S. Shipping data shows that Japan will get a boost in Middle East crude supplies this month, as two more Japanese-owned supertankers containing Saudi oil were exiting the Strait of Hormuz Tuesday. Societe Generale has said that the oil market will shift from a deficiency to a surplus by 2026. This is because supply growth will outpace slower demand growth. Bank of America cut its oil forecasts from $83 to $75 per barrel for the fourth quarter 2026 and from $79 to $73 on average in 2027. It also said that inventories would gradually recover, but volatility was likely to remain high. Five sources familiar with the matter have confirmed that Saudi Arabia is considering expanding its crude oil pipeline capacity to 'the western Red Sea Coast. This would allow the kingdom, and perhaps its neighbours, to transport more oil, without having to use the Strait of Hormuz. Reporting by Anushree Mathur and Pranav Mukherjee in Bengaluru, and Emily Chow and Barbara Lewis in Singapore. Editing by Jacqueline Wong Jamie Freed Barbara Lewis
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NATO allies discuss Hormuz tensions and mission with Gulf Arabs
On Tuesday, NATO foreign ministers are scheduled to meet their Gulf Arab counterparts in order to discuss the current stalemate regarding the reopening of the Strait of Hormuz. This will include a Franco-British initiative for a multilateral maritime mission which Iran has rejected so far. Ministers from Bahrain Kuwait Qatar and United Arab Emirates will attend the meeting, which is taking place on the sidelines a NATO summit being held in Ankara. This comes after weeks of tensions along the Strait of Hormuz despite a temporary U.S. Iran peace agreement. SHOWING SUPPORT FOR GULF ARAB NATIONS UKMTO, the United Kingdom Maritime Trade Operations agency, reported early on Tuesday morning that a 'tanker' was hit east of Oman Limah. Axios had reported that Iran's Revolutionary Guards had fired at least two rockets at commercial vessels?transiting through the Strait of Hormuz. Maxime Prevot, the Belgian Foreign Minister, said that the Iranians had targeted the Gulf countries directly this spring, including Bahrain, Kuwait and Qatar. "Their stability is inextricably tied to ours." He added that the issue goes beyond just the Strait of Hormuz, no matter how important it is for "Europe's security of energy". TRUMP CRITICIZES NATO ON HORMUZ After the United States and Israel launched a military operation against it in February, Iran began blocking the waterway. The passage is still difficult despite the mid-June interim agreement, which has driven up oil prices and shipping costs, as well as put pressure on global supply chain. NATO allies avoided direct involvement in this conflict and instead focused on plans outside of the alliance to reopen this strait through which a fifth or more of the world’s oil supplies normally pass. Donald Trump, who is due to arrive in Ankara on Tuesday evening, has criticized NATO allies' reluctance?to contribute to efforts to reopen this waterway. IRANIAN BACKING IS NEEDED FOR THE FRANCO BRITISH MISSION The European nations said that they did not want to get involved in the war which was started without their consent, but were ready to help secure the Strait after the war. France and Britain are leading efforts to form a coalition of?roughly 12 countries? that will guarantee safe passage across the Strait when tensions subside or the conflict is settled. However, any long-term agreement would require Iranian consent. Iran has consistently opposed any 'foreign military presence' in the region and dismissed last week remarks made by French President Emmanuel Macron indicating that the mission would continue. In the area, several NATO allies operate warships, minehunters and support vessels. Paris and London are hoping to announce an initial mission within the next few days in the Gulf of Oman. This waterway connects the Arabian Sea with the Strait of Hormuz, and is bordered by Iran and the UAE. A Franco-British statement issued on July 3 stated that "The Sultanate of Oman agreed to work with United Kingdom and France in order to ensure the safety of navigation within its sovereign territorial waterways." (Reporting and editing by Andrei Khalip, John Irish)
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Saudi Arabia is considering expanding oil pipelines to the Red Sea, according to sources
Saudi Arabia may expand the capacity of its crude?oil pipeline to the western Red Sea coast, according to five sources familiar with the matter. This would allow the kingdom, and perhaps neighbours, to 'transport' more oil without having to cross the Strait of Hormuz. The East-West Pipeline was constructed in the early 1980s, and it has been crucial ever since the Iran War and the subsequent halt of shipping through the Strait of Hormuz. The ship can carry up to 7,000,000 barrels of crude per day to the Red Sea Port of Yanbu. In May, Aramco's CEO said that approximately 5 million barrels per day are exported and 2 million barrels per day feed refineries along the west coast. Talks with neighbouring countries Sources said that the kingdom has begun preliminary discussions with its neighbours regarding the expansion of the capacity?of the pipeline by as much as 2 million bpd. Uncertainty surrounded Aramco’s capacity expansion plans. Would they involve upgrading existing infrastructure, or building a new pipeline? According to one source, the capacity increase will include a second smaller pipe for oil products. Kuwait, Bahrain, and Qatar lack routes to bypass Hormuz, while Iraq's pipeline from Turkey is plagued by disputes and frequent shutdowns and runs below capacity. Kuwait Petroleum Corporation CEO, Sheikh Nawaf Al-Sabah, told the Atlantic Council Global Energy Forum that "we are in discussion with our brothers in Saudi Arabia and the emirates about how to expand their pipeline system to accommodate Kuwaiti barges." Two sources stated that the expansion could be between 1 and 2 million bpd. Refined products are also being considered. Another source stated that it would take years and cost billions to change the Saudi crude pricing mechanism. Iran's blockade forced Gulf producers shut down as much as 12,000,000 bpd. Prices soared. After a preliminary U.S./Iran agreement last month, flows?have partially resumed but remain below prewar levels. Kuwait declared force majeure back in March, and Bahrain's refinery Sitra was hit by Iranian missiles multiple times. The recent talks between Saudi Arabia, Kuwait, and Qatar about new pipelines reflect a broader strategic reality. "The conflict has focused regional minds on the dangers of relying on Hormuz alone," said Zaid Bebagi, managing director at Hardcastle Advisory in London. Aramco refused to comment, while the Saudi Arabian and Bahraini government communication offices,?the Iraqi Oil Ministry and QatarEnergy didn't respond to immediate requests for comments. Qatar, which exports primarily LNG, faces greater technical obstacles and is looking at several alternatives, including Saudi Arabia, according to three sources. The UAE has finished half of the 'new West-East Pipeline, which will double crude oil capacity from Fujairah to Fujairah once it is operational in next year. The existing Abu Dhabi pipeline can carry up to 1.8 millions bpd. One industry source stated that an expansion by Saudi Arabia could indicate the next phase in the Saudi-UAE rivalry will be a race for the top of oil production and, therefore, a race towards the bottom prices.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could have an impact on individual stocks or the markets in?France or Benelux. French airline 'Air - France' has extended the suspension of flights to Beirut to July 20, and suspended flights from Dubai to July 6. Flights to Riyadh, Tel -Aviv and Riyadh have been resumed. EIFFAGE: French group Eiffage has acquired 80% of the construction businesses of 'Baatz Group in Luxembourg. This business generated EUR142 million revenue by 2025. EPC Groupe: French construction company EPC Groupe has won a contract for underground work as part of "a hydroelectric project" in France. The project is expected to last 24 months. OLYMPIQUE LYONNAIS has extended the contract of midfielder Corentin tolisso until 2029. SAINT-GOBAIN : French building materials firm Saint-Gobain has acquired Xypex - a leader in waterproofing solutions - and is expected to complete the deal in Q4 of 2026. Pan-European market ?data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ ?STOXX ?index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top ?25 European pct gainers....................... Top 25 European ?pct losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. Tokyo ?report............ London report ........... Xetra ?DAX............. Frankfurt items......... CAC-40................. ?Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....
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Graffiti artist accused for scaling Australian bridge tower to paint giant cartoon bird
The Australian police arrested an Australian man on Tuesday for allegedly climbing a tower of a cantilever bridge that is 460 feet high and painting a cartoon bird. Instagram footage posted from Bolte bridge, near the city's business district, shows a man hanging his legs off the top of the tower. In subsequent posts he requested lower taxes in Australia, and that a?peanut butter sandwich delivered by drone be sent to him before he came down. The police were unable to comply with the demand, and a lane was closed on the bridge. This caused commuters' traffic to be disrupted. Paul Hogan is an acting sergeant at the?Victoria Police. He said that a 22-year old?man had been arrested after descending from a tower. The man is accused of spray painting an exterior wall. "As the morning progressed, the man allegedly did not follow the police's direction to come down," said he. According to a police statement, significant resources were deployed at the site, including uniformed officers, highway patrol agents, a critical event response team, as well as Search & Rescue and Water Police. The graffiti on this bridge is reminiscent of a symbol called 'Pam the Bird', which has appeared on many buildings in Melbourne over the past few years, including the heritage-listed Flinders Street Railway?station. The police report did not mention what finally convinced the man to come back down. The Instagram account posted: "The audacity of flying a drone with no sandwich." (Reporting and editing by Michael Perry, Edwina Gibbs and Alasdair pal in Sydney)
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Richard White, co-founder of Australia's WiseTech, steps down from his position as executive chairman
Australia's WiseTech Global?admitted on Tuesday that Richard White, co-founder, would step down from his executive position, effective immediately. Raelene Murphy was appointed independent chair. Murphy, who was appointed to the board of directors at the beginning of '09, became the lead independent director before taking on her new position in May. As of 0028 GMT, shares of WiseTech had risen by as much as 8.2%. They were trading at A$38.28. White stated that recent media attention to WiseTech is a distraction from its strength. "Further I am aware that personal attacks against me in the media, which are not connected to the performance of our Company but have the potential to encourage short-selling activity." Since allegations about White’s personal life were first made public in late 2024, shares in the company have been under pressure. Late in June, reports said that the Australian Federal Police was investigating White for alleged allegations that he had exploited an?immigrant's status? for sex as well as provided false information on a visa application.
Kyiv reports that Ukraine has struck eight Russian tankers from the shadow fleet.
Kyiv’s military announced on Tuesday that Ukrainian drones had struck eight Russian tankers, the so-called “shadow fleet”, which were delivering fuel to Crimea over night. This was part of an increasing effort to isolate Russia-occupied Crimea. Ukraine's drone force released a Telegram statement confirming that they had hit the vessels – each under international sanctions with a total deadweight of 7,000 tons – in the Sea?of Azov. The same forces had announced the day before that they had also hit two other shadow-fleet ships in the same region. Ukraine has intensified its attacks on the energy and logistics infrastructure in Crimea over the past few weeks, causing fuel shortages in this?territory and sparking a state-of-emergency. This is crucial to Russia's ongoing?war against its smaller neighbor, which now enters its fifth year. Russia annexed Crimea in 2014. It is planning a full-scale invasion of the region in 2022. The drone forces stated that "striking enemy naval logistics complicates supply of fuel and ammo necessary to support Russian troops' activities, especially in temporarily occupied Crimea." The drone unit released black-and white footage of ships that were being attacked and exploding in flames. Could not independently verify the information. Kyiv has urged its allies for years to take action against vessels that'skirt sanctions' by delivering Russian oil on international markets. Ukrainian forces used sea drones in a campaign against Moscow to stop some Russian oil tankers from delivering their product?into the Black Sea. A series of mysterious explosions have occurred on tankers calling at Russian ports. Ukraine has neither confirmed nor denied its involvement in these?attacks. However, maritime security sources believe Ukraine to be behind them. Reporting by Anna Pruchnicka, Dan Peleschuk and Tom Balmforth. Additional reporting by Tom Balmforth. Writing by Dan Peleschuk. Editing by Daniel Flynn and Andrew Heavens. Sharon Singleton.
(source: Reuters)