Latest News
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Russia attacks two Ukrainian ports, Kyiv says
Officials from Ukraine said that Russia had attacked two'seaports' in the Odesa region of Ukraine on Wednesday. One person was killed and eight injured. In recent weeks, Russia has attacked Ukraine's port and foreign-flagged ships sailing from it. This is after Vladimir Putin promised to cut Ukraine from the sea as a retaliation for Kyiv's attacks on unregulated oil tanks sailing to Russia. The Ukrainian'seaport' administration stated that the ports attacked were Chornomorsk & Pivdennyi. Both are 'key export arteries' for Ukraine's commodities-heavy economy. Oleksiy Kulba, deputy prime minister of Ukraine, said: "This is another attack on port infrastructure by a terrorist country that has a role in ensuring global food security." Ukraine's Seaports Authority said on Wednesday that Moscow will attack the Odesa area seaports 96 more times in 2025 than it did in 2024, a nearly three-fold increase. Kuleba stated that the Wednesday attacks damaged port facilities, administrative buildings, and tanks containing vegetables oil. He added that the ports continued to operate while the damage was being repaired. Russia increased its strikes on Ukrainian port in December after Ukraine carried out?strikes against empty "shadow fleet tankers" that?Moscow used to ship their oil to buyers despite Western sanction. Kyiv has long tried to curb this revenue stream that it claims is funding Russia's conflict in Ukraine. Reporting by Yuliia Dyesa. Max Hunder wrote the article. Editing by Hugh Lawson, Mark Potter and Hugh Lawson.
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Norway's pipeline gas exports will drop by 2.3% in 2025 but remain steady in 2019.
Gassco, the operator of Norway's pipeline system, said that Norway's natural gas exports via pipelines to Europe in 2018 decreased by 2.3% compared to their record-breaking?2024 levels. They are expected to stay roughly at these levels also in 2026. Gassco will deliver 114.9 billion cubic meters (bcm), or slightly less than the previous year’s record of 117.6bcm, through its 8,800 km (5,468 miles) pipeline network by 2025. Alfred Hansen said that the relatively stable level of supply is due to well-planned maintenance and a record-high availability of terminals. Onshore plants, and pipelines. Hansen said that the results were "exceptionally good" and added that it also cemented Norway's status as a major supplier of energy to Europe. He said that the current 'levels' represent a plateau in Norwegian gas supply, and 2026 is expected to keep a range of?110-120 bcm. Norway is Europe's biggest gas supplier after the Russian invasion of Ukraine, 2022. It meets over 30% of its consumption. However, volumes vary depending on demand, maintenance, and other issues that affect capacity. Gassco's gas network links Norwegian gas fields to Germany, Belgium France, Britain, and Denmark. Deliveries are usually close to 340 millions cubic metres per day. RISE IN EXPORTS TO GERMANY Delivery to Germany, Europe’s largest gas market, increased to 58 Bcm by?2025, up from 56 Bcm one year earlier. This includes volumes sent to Denmark through a branch of the?pipeline that has been in operation since 2022. Gas exports to Britain dropped from 30 bcm per year to 27 bcm by 2024. Exports to France and Belgium also fell, each by 1 bcm. Gassco does not include LNG shipments from the Hammerfest LNG facility in Arctic Norway. This plant has an annual capacity of approximately 6.5 billion cubic meters.
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US proposes to help airlines avoid fines for consumer protection violations
The U.S. Transportation Department proposes to revise their guidance in order to?emphasize the imposition of civil?fines against?airlines that violate consumer protection laws and to abandon policies from Biden's era. The Office of Aviation Consumer protection?stated that its enforcement focus would be "on ensuring compliance with civil rights and consumer protection regulations, rather than finding and punishing entities for 'violations.'" If it finds violations, the office will "attempt to address the issue by issuing warning letters to help the regulated entitiy achieve compliance and resolve the issues before taking enforcement action." USDOT also proposes to remove guidance issued in 2023 by then-President Joe Biden, which stated that the department would seek higher penalties from airlines who violated 'consumer protection regulations.
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Local distributor reports that Dongfeng, a Chinese automaker, is in talks with Turkey's local distributor to manufacture passenger cars.
The Turkish distributor of China's Dongfeng Motor said that the company is in discussions with an investor to produce passenger cars in Turkey. Turkey is a large market with an annual sales volume of 1.4m vehicles. It also has a customs-free trade agreement with the EU. Chinese imports of cars to Turkey are subject to additional taxes, and Chinese automakers including Chery are seeking to set up production in Turkey with local partners. In a LinkedIn statement, Yavuz Cirak said, "We're working hard to begin production this year." Cirak is the CEO of Dongfeng’s local distributor,?Marcar, and was a part of the talks. A?request for a comment from Dongfeng Motor was not responded to immediately. The investor has secured a production facility. However, a final investment decision is not yet guaranteed. Talks are still ongoing. Marcar will oversee local sales, and support the cars. When contacted by? On Wednesday, Cirak declined to identify the investor invoking a confidentiality agreement. On Monday, a post was made on the Turkish Instagram account of Dongfeng luxury car brand Voyah stating that local production of a new hybrid model is in the works. Despite high taxes, Turkish car sales reached a new record in the last year thanks to an increasing adult population and electric vehicle demand. BYD, a Chinese manufacturer, is expected to begin production in Turkey by the end of 2026. Can Sezer is reporting; Zoey Zhang and Mirac Eren dereli are providing additional reporting from Shanghai and Gdansk, respectively; Darin Butler and Elaine Hardcastle are editing.
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Dozens Italian tourists evacuated by Yemeni island
The Italian Foreign Ministry announced that it has started repatriating its citizens who were stranded in the Yemeni Island of Socotra. A first flight carrying 46 tourists is due to land in Jeddah, Saudi Arabia, on Wednesday. As authorities continue to work with Yemen and Saudi Arabia, another 59 Italians are still on the island. They will be returning on additional flights within a few days. Saudi authorities will issue a transit visa for the Italians to facilitate their return. Last week, the United Arab Emirates?withdrew their troops from Yemen in response to a Saudi Arabian deadline. They also left behind Socotra, a remote island off Yemen that had been inhabited by 600 tourists. The main airport on the island halted air traffic as the crisis between Saudi Arabia and the UAE intensified, resulting in a new conflict on the mainland of Yemen where the two Gulf countries are supporting opposing factions in the civil war. Socotra, which is located more than 300 kilometers (185 miles) south of Yemen’s coast and was only accessible by air until recently via the UAE, has been a refuge of calm during the conflict on the mainland. (Reporting and writing by Cristina Carlevaro, Editing by Janet Lawrence).
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MoD: UK supported US mission in seizing Russian-flagged tanker
The Ministry of Defence announced on Wednesday that Britain had provided assistance to the United States during its operation to capture a "Russian flagged oil tanker" in the North Atlantic. After pursuing the tanker for over a month across the Atlantic, Washington was able to seize the vessel on Wednesday. Britain's armed forces provided "pre-planned?operational support including basing", following a request from the United States for assistance. The report said that a naval vessel aided the U.S. forces in pursuing the oil tanker and the Royal Air Force provided aerial surveillance. Defence Secretary John Healey stated that the operation was targeted at a vessel with a "nefarious past" connected to Russian and Iranian sanction evasion networks. In a press release, he stated that "this action was part of global efforts?to crack down on sanctions-busting". He said that the U.S. had been 'Britain's most important partner in defence and security. Today's smoothly executed 'operation' shows how this relationship works. British officials confirmed that the U.S. sanctioned the Bella-1, now called Marinera under its?counter-Iran sanctions. In a statement, the MoD said that support had been provided "in compliance with international law". (Reporting and writing by William James; editing by Paul Sandle, Kate Holton, and Sam Tabahriti)
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Alaska Airlines orders 110 Boeing planes for expansion plan
Alaska Airlines has announced that it is ordering 110 new Boeing aircraft, making this the largest order in airline history. In order to expand, the airline has announced that it will be ordering 105 737 MAX-10 planes as well as five new 787-10 aircraft. It also plans to acquire options for 35 more 737 MAX 10. The airline said that the additional planes would help it increase its fleet from 413 to 475 aircraft by 2030, and then more than 550 by 2035. The additional five 787 Dreamliners are expected to help the carrier expand its service in Europe and Asia. Ben Minicucci, CEO and president of Alaska Air Group, said: "This fleet investment builds upon the strong foundation Alaska has created to support steady growth that is scalable and sustainable. It's another building block for implementing our Alaska Accelerate?strategic plans." Alaska Airlines, the 5th largest domestic airline in?2024?, will acquire Hawaiian Airlines, the 10th largest carrier, for $1.9 billion. Hawaiian Airlines, which was the 10th-largest carrier in the U.S., was acquired by Alaska Airlines for $1.9 billion. Alaska has exercised 52 MAX 10 options and ordered 53 new aircraft. Boeing has been trying to get FAA approval for new MAX versions - the MAX 7 and MAX 10 - for many years. A problem with engine de-icing has caused delays for the planemaker in obtaining certification. The FAA approved Boeing's request to increase its 737 MAX monthly production from 38 to 42 aircraft in October. This ended a cap of 38 planes that had been in place since 2024. The FAA imposed this 'unprecedented' production cap after a mid-air crisis in 2024 involving a brand new Alaska 737 MAX 9 which lacked four bolts on a door plug. This caused a large hole in the fuselage to open at 16,000 feet (4900 m). This incident exposed widespread safety and quality failures in Boeing's production.
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German emissions declined only modestly by 2025, due to building and transport
Agora Energiewende, a think tank for energy, said that Germany's greenhouse gases emissions will only be marginally lower?in 2025 as the?overall climate equilibrium is impacted by the?weak progress made in decarbonising transport and buildings. Germany, Europe's biggest economy and manufacturing powerhouse, aims to be climate neutral by 2045. Part of this goal is to achieve 80% of electricity from renewable sources by the end the decade. Agora's annual report stated that carbon dioxide emissions in 2025 will be 640 million tons, a decrease of?1.5%, or 9 millions tons, from the previous year. Agora calculated that while Germany achieved its annual emissions goal last year, the reduction is less than half of what will be saved in 2024. It was partly due to lower production in energy-intensive sectors, which were a result of weak global demand and prolonged low prices. However, record solar power generation also played a role. Julia Blaesius is the director of Agora Energiewende Germany. She added that "The power sector, which has been the main driver of emissions reductions to date, cannot compensate permanently for the inadequacies in the switchover to climate technologies on transport and in buildings." Emissions are higher in cold temperatures and with more fuel use. Agora reported that after years of insufficient progress, the building and transport sectors will see emissions rise in 2025. A cold start last year led to an increase in heating oil and gas consumption, which increased emissions by 3.2% or 3 million?tons. Transport emissions increased by?1.4% or 2 million tons due to a slight increase in fuel consumption. SOLAR ENERGY IS A SILVER LINING Positively, a record year of solar power production offset a poor year for wind and waterpower. Solar energy now accounts for 18% of electricity, surpassing coal and natural gas. Around 300,000 heat pumps were sold in 2025. According to the analysis the increasing share of renewables in the power mix has dampened the rise in prices. However, electricity costs at the exchange will still increase by 13% on average to 89 euros (104 dollars) per megawatt-hour in 2025.
European shares continue to rise after record-breaking rally, despite tensions
European shares rose?on?Tuesday, with indexes from Germany and Spain reaching record highs. Investors were confident about the economy despite increasing geopolitical tensions.
STOXX 600, the pan-European stock index, ended 2018 with its biggest gain since 2021. This was largely due to falling interest rates and increased defence spending. Analysts say that while returns this year may not be as great, there is still room for growth.
Matthew Sherwood is a senior global economist with Economist Intelligence Unit.
There's still a cautious optimism. There are also things in motion that support growth.
Goldman Sachs increased its 12-month target price for the STOXX600 on Tuesday.
The?index rose 0.2% to 0922 GMT a day after it surpassed the 600-point barrier for the first.
HEALTHCARE AND ENERGY ARE WINNERS
Healthcare index rose 1.4% to its highest level since March of last year. Novo Nordisk, a Danish manufacturer of obesity drugs, led the pack with gains of 5.8%.
Eli Lilly's rival, the company has intensified its competition by launching?its Wegovy tablet in the U.S.
The energy index increased by 1.2%, and hovered near levels last seen in 2008.
On Tuesday, traders will focus on a busy data release schedule. They will examine a range of manufacturing and inflation readings.
Joachim Klement is the head of investment strategy for Panmure Liberum. He said, "We expect inflation in the UK and the Euro zone to decrease, allowing room for possible rate cuts."
The regional bourses were mostly flat, with the exception of Spain's 'IBEX' and Germany's DAX index, which both hit record highs early in trading. Meanwhile, Italy's benchmark index rose by 0.2% after reaching a new high.
The service sector of the largest economy in the Eurozone maintained its solid growth rate in December, despite the fact that the expansion rate slowed down for the second consecutive time.
According to preliminary data, the consumer price index in France rose less than anticipated in December. The benchmark stock index was down 0.3%.
InPost, a parcel locker company, jumped 18.6% among individual stocks after it announced that it received a proposal indicative regarding the possible acquisition of its entire shares.
Adidas fell 6.9% following a Bank of America downgrade to "underperform", from "buy", due to expectations of slower growth in sales. (Reporting and editing by Sherry Phillips in Bengaluru, and Vijay Kishore.)
(source: Reuters)