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Turkey has a Black Sea grain plan, and is in touch with Russia and Ukraine
Hakan Fidan, the Turkish Foreign Minister, said that the country has prepared a 'plan for the safe passage of grain through the Black Sea. It is in contact with both Russia and Ukraine about it. The Turkish government has expressed its willingness to revive an?agreement? brokered by the U.N. that allowed grain to be removed from Ukraine during wartime. "We are working on a plan and we're in touch with both sides about this plan," Fidan said at a press conference in Istanbul. "If necessary conditions are met, we will work to reach another agreement similar to that of the grain deal." The United Nations and Turkey helped to mediate the so-called Black Sea Grain Initiative, which was agreed on in July 2022. This initiative allowed the safe exportation of nearly?33 millions metric tons (about 66 million pounds) of Ukrainian grain through the Black Sea. In 2023, Russia withdrew its agreement after complaining about'serious obstacles' to?its own food and fertilizer?exports.
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Sources say that India's Fly91 is close to ordering 20 ATR turboprops.
Three sources with knowledge of the matter have confirmed that Fly91, an Indian regional airline, is on its way to ordering at least 20 turboprops from ATR in order to expand its fleet. The deal represents a significant wager on the Indian regional aviation market, where the government is trying to connect dozens of smaller towns through a "subsidised connectivity scheme", despite the fact that many routes have already been discontinued. Two sources said that the order could include options to purchase several additional aircraft. Two sources said that an announcement could come as soon as this week. ATR's spokesperson declined to comment. Fly91 did not respond immediately to a comment request. Sources spoke under condition of anonymity, as the negotiations were?confidential. The sources said that the deal was not finalised, and that the number of planes and timing of the announcement may change. ATR HAS DOMINATED THE TURBOPROP MARK This deal is a major boost for ATR. It dominates the turboprop market but relies on a small number of markets to place its orders. India and Indonesia are two of the most active markets for turboprops, which are economical for short domestic or island-hopping flights and prized for supporting regional development. Fly91 operates ATR 72 600s from Goa’s Manohar International Airport to a dozen or so destinations. The airline has said that it will induct 30 aircraft to connect over 50 cities within 5 years. Convergent Finance, a private equity firm, is backing the airline. India, which is the fastest-growing aviation industry in the world, announced earlier this year that it would invest $3 billion to expand air travel in underserved areas of the country. The scheme is called Ude Desh Ka?Aam nagrik or "let the average citizen fly." India will continue to subsidise routes that are otherwise unviable and develop 100 airports using existing airstrips.
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EU Aviation Safety Agency narrows Gulf Airspace Warning
The European Union's?Aviation Safety Agency extended Monday its warning for airlines to avoid airspace over the waters of the Persian Gulf in Bahrain, Kuwait and Qatar, while reducing an earlier advisory which recommended avoiding all airspace within the four countries. The latest advisory comes just hours after U.S. and Iran resumed hostilities, the first since late July. EASA's newest advisory to the Persian Gulf nations stated that "while risks remain high over the waters of this region, operations necessary for arrivals or departures at aerodromes in the affected Flight Information Regions can be carried out with enough mitigation." The agency asked that operators exercise caution when flying over the land of these nations and to avoid operating in the Gulf of Oman within Oman's Muscat Flight Information Region. The agency has lifted its previous advice that airlines should avoid Jordanian airspace but still advised them to be cautious until 'September 30. EASA has also extended its recommendation that airlines do not operate in Iran, Iraq and Lebanon's airspace until the end of September. The agency said that flights landing or departing the Lebanese Capital Beirut were 'permitted' if they'start from the sea or end over the sea.
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Ground crews at Qantas Airways in Australia vote to strike over "rock-bottom" pay
Ground crew members at Australia's biggest airline, Qantas Airways voted on Monday for strike action due to pay and conditions. The 'Transport Workers Union' said that 97% of the 350 workers who voted supported a?industrial action?, including work stops?ranging from an hour to 24 hours. A strike date has not been announced. Before taking industrial action, the union must give at least three days' notice. Michael Kaine, national secretary of the union, said that although ground workers didn't want strike, after falsely being promised by this airline that they would be treated with respect, there was no other option. The union said that the workers' "pay, safety, and conditions" had fallen to the lowest levels. The strike threat follows Qantas long-haul flight pilots who voted for industrial action in early August before reaching a wage agreement with the airline. Qantas stated in a press release that it was "committed to reaching an agreement" with its employees that included annual pay increases. The details of the airline's proposal were not made clear. The Fair Work Commission said that the discussions with the Fair Work Commission were constructive, and that negotiations continue. We are focused on a deal that addresses the issues employees told us were most important, such as pay and full-time employment opportunities. Qantas said it has contingency plans in place to minimise any impact on its operations, if there is a strike. The subsidiary Qantas Ground Services employs its ground staff as casual or part-time workers. They do not work on mainline or international services. The Transport Workers Union stated that "QGS employees are calling for job stability, a fair wage rise after years in which wages were frozen, and to bring back the scattered work groups under a single Qantas banner instead of pitting them against each other." Qantas' ground staff and the Fair Work Commission of Australia are due to meet on September 18 for talks. Qantas reported A$2,06 billion ($1.47billion) in annual underlying profits before tax on Thursday, a fall of 14% attributed to an increase in fuel costs due to the Middle East conflict.
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Honda and Nissan aim to roll out joint vehicle software by fiscal 2029
Nissan and Honda, two Japanese automakers, announced 'on Monday that they will jointly develop electronic control units (ECUs), standardised for software defined vehicles (SDVs). This is a step forward in their collaboration on more advanced car technology. In a joint statement, the companies said they plan to integrate the ECUs developed jointly and the software into next-generation cars starting in the financial year 2029. Automakers are increasingly focusing on software as their vehicles adopt more autonomous driving and connected features. The cost of development is increasing as carmakers invest heavily in operating systems to support features such as driver assistance, entertainment and over-the-air upgrades. This move reflects the growing pressure of Chinese automakers, such as BYD. They have made significant gains in Europe and Southeast Asia by introducing electric and hybrid vehicles with sophisticated software. This agreement is the result of talks that began 2024 when Honda and Nissan announced they would?jointly research next-generation platforms. The agreement comes after more than a yr of abandoning?merger discussions that would have created a?fourth-largest automaker in the world. Honda and Nissan have stated that they are working to create common specifications for the core ECUs in their vehicles' electrical and electronic architecture. They also plan to standardize operating systems, middleware software and other parts. Nissan's alliance partner, Mitsubishi?Motors, said in a press release that it was considering joining the collaboration. It remained in discussion with both automakers about potential areas of cooperation.
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Rhine water levels rise after rain but shipping issues are not over
The Rhine river in Germany rose'sharply' after recent rains, according to the inland navigation agency of Germany. However, shipping problems remained despite ships being able to take on more cargo. Rhine water levels reached record lows in early August. Industry suffered higher transport costs, logistic bottlenecks, and curtailed production. WSV, the inland navigation agency, said that the navigable water gauge at the chokepoint near Koblenz measured 72 cm on Monday compared to 60 cm on Friday. The Rhine dropped 'below 10 cm' in mid-August. This was below the previous low recorded level of 25cm?in 2018. The river is approximately 1 metre deep?than its navigable depth. Ships continue to sail partially loaded, even though they can take on more cargo. For fully loaded sailings, a navigable water gauge at Kaub of approximately 1.5 metres is required. The cost of transporting freight on roads and rails has increased as a result of the need to spread out loads across multiple vessels. One commodity trader stated that "some rain is forecast this week, but any improvement will be dependent on how much actually falls." The WSV predicts that the river may fall later this week, but will remain?well below early-August levels. Germany and other European nations have experienced successive heatwaves this summer and limited 'rainfall. This has pushed the water levels down on important waterways such as the Rhine. The Rhine is a vital shipping path for grain, minerals and refined oil products.
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Mother tells of daughter's disappearance in North Cyprus ferry disaster
Ayten Bicer felt her daughter, 12, slip from her hand and 'disappear' as a ferry capsized near northern Cyprus on Sunday. At least eight people were killed. Search teams were still looking for survivors Monday in the waters of more than 500 metres (1.640 feet) depth. Her daughter Miray and her 6-year-old Mehmet asaf were two of nearly 20 people who remain missing. "She said, 'Don’t let go.' And I did not let go of my child. I swear, I didn't let her go," Ayten Bicer sobbed. The girl was thrown from her grip when a suitcase fell on her. The mother grabbed the foot of her daughter, but the shoes were covered in oil from the ship that had overturned. On Sunday, a double-hulled vessel with 267 people aboard took on water and flipped. Surviving passengers were left clinging to the overturned hull. The coastguard and passing vessels rescued them. Separate reports said that the vessel's wide body jolted violently, before slamming into the surface of the water with a part of its bow breaking open upon impact. On Saturday, Cypriots experienced severe storms and on Sunday the seas remained rough. On Monday, debris was scattered on the water. This included a wheelie case in black that bobbed on the surface as well as a sheet of metal that looked to have come loose from the ferry. Families wait for updates Some of the people waiting outside the port in Kyrenia sat silently and wept while others scanned their mobile phones to check for updates. Uncertain was whether people were still trapped in the ship, which now lay on the seabed. Social media footage suggests that there were still people in one compartment when the ship flipped. Hayri Bicer, the husband of Ayten Bicer, says that everything happened very suddenly. "We couldn't intervene. We lost our kids. We tried hard but couldn't save them. Two of my kids are dead. One of my sons lives. Two of my three children are dead. Two of my children have?gone. We left them. "We're leaving them here on the island," he said. Officials said that divers from Turkey assisted in the search. Officials gave varying estimates, some saying 19 and others 18. The ferry had a problem shortly after departing Kyrenia to the Turkish port of Tasucu in Mersin Province, one of many daily sea shuttle connections with Turkey. The authorities have detained and questioned the captain of the ship as well as the crew. Ayten Bicer, sat in a deckchair?outside of the port at Kyrenia Monday morning. She was waiting for updates. Her eyes were swollen from crying. "It was like oil, there was Diesel, and our feet were slick. It was slippery everywhere. It was slippery everywhere. She slipped from my hand. Ayten Bicer pointed to the collar of Ayten's T-shirt and said: "Mehmet Asaf was holding on to his dad here." "Saying, 'Baba'(Dad)".
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State media reports that Russia has dropped all charges against Ilya Traber.
On 'Monday,'?state media reported that Russian investigators had dropped the murder charges against prominent businessman Ilya Traber. Traber is a 75-year-old businessman who has invested heavily in St Petersburg's ports and logistics. Russian media reported that he was arrested in June for the fatal shooting of Alexander Petrov in 2020. On?Monday, state-run agencies?TASS? and RIA?reported that all charges?against Traber?had been dropped and his investigation closed. TASS reported that he had been released from his pre-trial custody due to health reasons. The reports were not confirmed by any official sources. Traber rose to prominence after the fall of the Soviet Union in the 1990s when he took control of St Petersburg’s oil terminal and sea port at a time when President Vladimir Putin served as a deputy mayor of the city's administration. Traber's friendship with Putin and the Kremlin was previously denied by the Kremlin.
Bousso: The electrification of Europe's ROI will be a decade-long struggle.
Europe is facing a "death Valley" of high energy prices over the next decade, which threatens to erode their industrial base even if they achieve their ambitious plan?to increase electricity consumption by 2040.
The European Commission announced on Friday an Electrification Action Plan aiming to increase electricity's share in final energy consumption from 23% today to 48 % by 2040. An interim reference goal of 32 % by 2030 was set as an initial target.
The strategy aims to accelerate electrification in transport, buildings, and industry. It also tackles one of Europe's largest energy paradoxes - electricity is often more expensive than fossil fuels that policymakers would like consumers and businesses abandon.
The Commission claims that turning Europe into the first "electrocontinent" of the world would drastically reduce fossil fuel consumption, and the EU's energy import bills could be reduced by up to EUR260 billion ($297billion) per year by 2040.
The appeal is clear at a time when the security of energy has become a priority in geopolitics. The challenge is also clear.
Europe is still largely fueled by fossil fuels. Oil, coal and gas account for over 60% of EU's total energy mix. Renewables only make up about one fifth.
Despite the rapid expansion of renewable energy generation on the continent at a cost that is enormous, the continent has made much less progress in electrifying sectors such as transport, industry, and heating.
Even though Europe has been steadily decarbonising its electricity production, electricity still only represents a small percentage of the total energy consumption. The share of electricity consumption in total energy has been around 23% since over a decade.
The disconnect underscores the magnitude of the task that lies ahead. It could very well determine whether the European industry is viable in the coming decade.
MASSIVE VULNERABILITY
The energy crisis that followed Russia’s invasion of Ukraine on a large scale in February 2022 underscored the urgency to accelerate this shift.
Losing abundant Russian pipeline natural gas forced Europe to undergo a costly and painful energy realignment. It had to replace cheaper imports from the east with more expensive liquefied gas imported from global markets.
The effects on industry were profound. The rise in energy prices led to a contraction of industrial activity, as companies from metals to glass to chemicals to fertilisers struggled to compete against rivals from regions that benefitted from cheaper energy.
Europe is still acutely vulnerable to fluctuations in the fossil fuel markets. According to the European Commission's estimates, since the beginning of the Iran War in late February, oil and gas imports have increased by EUR50 billion. This has added fresh pressure on inflation.
The Commission has proposed an extensive package of measures to reduce energy costs. These are aimed at reducing the gap in price between electricity and natural gas.
These include reducing the network charges, introducing smart meters, increasing the affordability of electric vehicles, expanding the charging infrastructure and replacing gas boilers with heat pump systems.
The EU's Emissions Trading System is the flagship policy of the EU on climate change. The reforms proposed would give industries more flexibility to reduce emissions, while also providing financial support for investments in clean technologies and domestic production.
HUGE PRICE TAG
The scale of the investment required is staggering. According to a recent estimate by the Commission, upgrading and expanding Europe’s ageing transmission networks and distribution systems will require approximately EUR1.2 trillion in investment between 2040 and 2040.
Tens of millions more will be needed to fund programmes designed to promote electrification within the transport sector, in industry and in buildings.
There are reasons to be optimistic, though.
According to the International Energy Agency?, Europe spends about EUR60-EUR70 billion on electricity grids every year. This means that reaching the Commission's target for investment would not require an overhaul of current investment trends.
The proposed relaxation of ETS requirements could also unlock additional funding, allowing companies to redirect their capital towards modernising production and infrastructure.
The Commission wants the member states to also dedicate half of ETS revenue to decarbonising their domestic industry. Since 2013, carbon?market revenues have been around EUR260 billion.
Even after all of this, however, the increase in investment still remains daunting.
This is especially true when you consider that European governments are under pressure from both Washington and Russia to increase their defence spending.
Existential Risk
Timing is the biggest issue.
The benefits of the plan will only be realized gradually, even if it survives the forthcoming political battles. This is unlikely given the divergent interests among the 27 members states. It takes years to build grids, charging systems, heat pumps and industrial infrastructure.
The challenge to Europe's competitiveness in the industrial sector, on the other hand, is urgent.
European electricity prices are still more than double those in the U.S., and about 50% higher than China. This leaves energy-intensive industries at a structural disadvantage, even after the decline from the extremes of the energy crisis in 2022.
Europe's energy-intensive industries will need to be competitive with their rivals from Asia and North America for most of the decade. They must also expand electricity-hungry areas such as artificial intelligence and data centres.
This is the unsettling reality that lies at the core of Europe's electrification policy.
Electrifying Africa is not just a climate goal. It has become a necessity for a region that is limited in fossil fuel resources, exposed to geopolitical shocks and faces increasing costs of imported fuel.
It is a question of whether Europe's industry can survive for long enough to reap its benefits.
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(source: Reuters)