Latest News
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Source: European major satellite venture needs more time to be finalised
Sources told us on Monday that it will take a few weeks to reach a framework agreement between Airbus, Thales, and Leonardo in order to form a major European satellite manufacturer. A person with knowledge of the situation said that key details are still being discussed and the boards of all three companies are trying to come up with a united position. The talks between the two aerospace companies hit a snag after Thales and Leonardo, who were already partners in the industry, asked for more patience. This was reported by French newspaper La Tribune. Leonardo has declined to comment. Thales didn't immediately respond to requests for comments. Airbus spokesperson: "Discussions are ongoing and confidential; it is still too early to comment on further." Airbus, along with the two other companies that own Airbus' main rival in satellite production, Thales Alenia Space have been in discussions for months about creating a new European venture in order to compete more effectively against rivals in China and the U.S. including Elon Musk’s SpaceX. The deal is aimed at combining Airbus Space Systems, Airbus Intelligence, and Leonardo's space activities. La Tribune reported last week that the talks had accelerated but they hit a last minute obstacle regarding how work share would be distributed amongst the three companies.
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President Kenya says Kenya will set up sovereign wealth funds and infrastructure funds
William Ruto, the President of Kenya, said that Kenya will set up a sovereign fund and an infrastructure funds to invest in important sectors, without repeating recent debt binges which have strained the public finances. After borrowing heavily to build infrastructure in the last decade, the East African nation now has one of Africa's highest debt-to-revenue ratios. We are establishing two important funds. Ruto announced over the weekend that he would be launching two funds: one, an infrastructure fund, and another, a sovereign wealth fund. He said that lawmakers have passed a law on privatization of state assets. This gives the government the opportunity to raise money to establish the two vehicles. He said: "As citizens responsible for the future, we have to think of them and keep something for them, so they can start tomorrow." The privatisation campaign will begin with the sale shares of Kenya Pipeline Company. This state-owned firm manages the transportation infrastructure for petroleum products in Kenya and neighbouring countries. Ruto stated that the share offer could raise up to 130 billion shillings (1,01 billion dollars). Ruto stated that the infrastructure fund would be used to boost agriculture, Kenya's largest economic sector. It will also be used to increase production so that some crops can be exported. The president also said that funds would be used to increase the production of electricity. Kenya has a capacity to generate 2,300 megawatts, but it needs a minimum 10,000 megawatts to industrialize. He said, "We have been stuck on a standard trajectory for far too long and this is why we don't make progress." Ruto didn't give any details about when the funds will become operational.
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In India's Darjeeling, heavy rains cause landslides and floods that kill 18 people.
Authorities said that the unrelenting rainfall in India's eastern mountain region of Darjeeling caused floods and landslides, which washed away roads, bridges and homes. In Nepal, 50 people died after flooding and landslides. Officials in the Indian state of West Bengal warned that as more information from remote areas came in, the death toll would likely rise. In a recent post, Mamata Banerjee said that two iron bridges had collapsed and several roads were damaged or flooded. Huge tracts of land... were inundated. She added that the districts of Darjeeling and Kalimpong as well as Jalpaiguri and Alipurduar which have tea plantations were affected. H R Biswas is the regional weather chief in Kolkata, which is the capital of the state, and he said that more showers will be expected following the weekend's downpours, described as "extremely intense" in Darjeeling. Heavy rain caused traffic disruptions on the highways as a part of the iron bridge that crosses the Balason river linking Siliguri, in the plains, with Mirik in the hills collapsed. A local official in disaster management said that there were large amounts of debris on the roads. This made it difficult for rescuers to get to many areas. Darjeeling, a Himalayan hill station in the west of India, is famous for its tea. It also attracts tourists because of its spectacular views of Mount Kanchenjunga - the third highest peak on earth. Banerjee warned tourists to remain in place until they are safely evacuated. A spokesperson for the Armed Police Force stated that the number of deaths from floods and landslides across the border in Nepal has risen to 50. 37 people were killed in separate landslides on the Indian border in the eastern district Ilam. Bholanath Gurugain, a district official, said that rescuers were digging through the mud to search for survivors. They also cleared blocked roads, after landslides had washed homes away in several villages. (Reporting from Jatindra dash in Bhubaneswar, and Gopal Sharma at Kathmandu. Writing by Sudipto Ganuly. Editing by Clarence Fernandez.)
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Russia claims that a drone attack by Ukraine damaged the security office of Tuapse Oil Refinery
Authorities in the region said that overnight, drones from Ukraine targeted Rosneft's Tuapse refinery, located in southern Russia's Krasnodar Region. The drones caused a fire to break out at a building used by security personnel, but it was quickly put out. Ukraine has intensified its drone attacks on Russia's oil pipelines and refineries in the last two months, claiming that it is in response to Russia's attacks against its own energy infrastructure. The Russian military announced on Monday that their air defence units have been upgraded. Overnight, 251 Ukrainian drones flew over the Black Sea, 61 of which were over the southwest. One was heading toward Moscow. On the night of 6 October, drone debris fell onto the grounds of Tuapse Oil Refinery. The fire in the security building was quickly put out by local officials on Telegram. Two people were hospitalized and injured, they reported. The Tuapse export-oriented plant has a capacity of processing 240,000 barrels per day of oil (bpd). It produces naphtha as well as fuel oil, vacuum gasoline, and high-sulfur diesel. It supplies mainly China, Malaysia and Singapore. Andrew Osborn, Reporting and Editing
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NTB reports that a drone sighting temporarily disrupts the traffic at Oslo Airport, Norway.
Oslo Airport in Norway temporarily halted landings on early Monday morning after receiving a report about a drone near the airport. "One or two aircraft waited until the situation could be clarified." Avinor's spokesperson confirmed that no aircraft had left for alternate airports. Norwegian news agency quoted police as saying that they received a report at midnight from a Norwegian Air Pilot who thought he had seen three to five drones while approaching the airport. Avinor confirmed that there have been no more disruptions in air traffic. NTB reported citing the police that this observation was unverified. In recent weeks, drone sightings have caused chaos at European airports including those in Copenhagen, Oslo, and Munich. (Reporting and editing by Kim Coghill; Anna Ringstrom)
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Biya is set to serve his eighth term in Cameroon despite calls for him to step down.
Paul Biya announced his bid for an eight-term in July. He said that he heeded "numerous, insistent" requests to remain in office. However, this year's elections have also seen a number of striking calls for him to step down. The first was Catholic Archbishop Samuel Kleda who, on French radio at Christmas last year, said that it wasn't "realistic" for Biya continue in his job. Two cabinet members, from Cameroon’s northern regions with a high voter turnout, openly questioned Biya’s leadership ability. Brenda Biya (27), the daughter of the president, stated on TikTok that her father had "made too many people suffer". She urged Cameroonians, therefore, to vote him out. The post has been widely circulated among Biya detractors. The world's oldest leader of state, despite these criticisms and a number of economic and security challenges, stands a good chance of winning when the country that produces cocoa and oil in Central Africa goes to polls on 12 October. Analysts claim that he has been supported by factors which have kept him in power for over four decades. These include a patronage system entrenched, flawed electoral institutions and a loyal military. "The President has been able to enforce loyalty towards him and to the system... "Very few people within the system are willing" to challenge him. Arrey Ntui is a senior analyst at International Crisis Group. "When it's about the president, independent thinking is gone." It's just a single-line story. The president is in office, he can run again. That's all. Health Fears Overshadow Campaign Since he took over the presidency in 1982, he has maintained a tight hold on power. He replaced his former mentor Ahmadou Ahidjo who he forced into exile. He was able to survive a coup in 1984, and the first multi-party election in 1992 when he only won 3 points over the second-place candidate. Biya signed in 2008 a constitutional change that removed the two-term limitation for the presidency. In 2011, he won by large margins, and in 2018, he did the same. He dismissed his opponents' claims of intimidation and ballot stuffing. Biya could face a major obstacle in his health this time, as it has been for years. Last year, he was absent from the public eye for 42 days. Last year, the government banned the public discussion on the subject. Cameroonians are still struggling to access basic services, from water and roads to electricity and waste management. DOUBTS RAISED ABOUT THE FAIRNESS OF VOTES The ability of his government to influence the outcome of the elections could offset these vulnerabilities. A court declared ineligible in July the candidature of Maurice Kamto - Biya's main opponent who came second in 2018 - stating that the party he was registered to represent already supported another candidate. Human Rights Watch stated that the move "raises concern about the credibility of electoral processes." Kamto, who had denounced the results of the 2018 elections as fraudulent, was arrested by security forces in January 2019, after leading protests that were dispersed using live bullets. He was charged with insurrection before a military tribunal, which according to his lawyers could have resulted in the death penalty. However, he was freed in October 2019. The threat or actual arrest of an opposition member has been used to keep them weak for a long time. Officials in Cameroon claim they are only enforcing laws. Raoul Sumo Tayo is a senior researcher at the Institute for Security Studies in Pretoria. He says that the fear of being sued for speaking up goes beyond the political classes. "When you get into a taxi in Cameroon you never know who the driver is." He said that people are afraid to talk because of the perception that intelligence agents are everywhere. The regime is empowered by the fact that many people in Cameroon want to see their kids grow. Reporting by Robbie Corey Boulet in Dakar, and Amindeh Atabong in Yaounde
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Auckland Airport welcomes regulator’s decision that an airport investigation was not necessary
Auckland International Airport welcomed on Monday the New Zealand Commerce Commission’s decision to not launch an official inquiry into airport regulations as Air New Zealand requested. In 2024, the country's flagship airline had called for an investigation, expressing concerns about Auckland Airport's plans to redevelop and its proposal that it partially fund the project by increasing airline charges. It also argued that the airport's price framework was not subject to sufficient regulatory oversight. The competition regulator announced on Monday that it concluded such a move would be unnecessary and add to costs for the sector. The airport operator has launched a 10-year NZ$5.7bn ($3.31bn) infrastructure programme to boost capacity and improve customer experience. Air New Zealand's claims regarding the future cost of infrastructure are speculative. Carrie Hurihanganui, Chief Executive Officer of Auckland Airport, said that they have relied on conjecture in order to place a price on our draft Master Plan. ($1 = 1.7245 New Zealand dollars) Reporting by Roshan Thomsen in Bengaluru, Editing by Cynthia Osterman & Diane Craft
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Rescue of hundreds of trekkers from the Tibetan side of Mount Everest
Rescuers guided hundreds of trekkers trapped by a blizzard in Tibet near the eastern face Mount Everest to safety, Chinese state-run media reported Sunday. The Himalayas were pounded by unusually heavy rain and precipitation. China Central Television (CCTV), reported that 350 trekkers reached Qudang on Sunday. Contact was made with the other 200 trekkers. This week, China's National Day holiday allowed hundreds of people to visit the remote valley of Karma that leads to the eastern Kangshung Face of Everest. The snowfall began in the valley on Friday night and continued throughout Saturday. CCTV reported that the remaining trekkers would arrive in Qudang over a period of time, with the help and guidance of rescuers arranged by the local authorities. According to a report earlier by the state-backed Jimu News, hundreds of local villagers had been deployed and teams of rescuers to remove snow that was blocking access to this area. Jimu News reported that almost 1,000 people were trapped. The CCTV report didn't mention if the local guides and staff who supported the trekking groups had been found. Also, it was unclear whether or not trekkers in Tibet near the north face Everest had also been affected. Due to its easy accessibility by paved roads, the north face of Everest regularly attracts large numbers of tourists. The peak season is October, when the skies clear after the Indian monsoon. According to announcements posted on the official WeChat account of Tingri County Tourism Company, the sale of tickets and entry into the Everest Scenic Area was suspended as of late Saturday. Heavy rains in Nepal's south have triggered flash floods and landslides that have washed out bridges, blocked roads and killed 47 people. 35 people were killed in separate landslides that occurred in the eastern Ilam District, which borders India. Nine people are reported missing, after they were swept away in floodwaters. Three others died in lightning strikes in other parts of the country. (Reporting from Casey Hall in Shanghai, and Ryan Woo at Beijing; Editing and Lincoln Feast by Louise Heavens and Lincoln Feast)
The long journey of the Nord Stream gas pipeline to Europe
The United States' push to end the conflict in Ukraine has raised concerns about how European companies could re-engage Moscow and return to the Russian markets, including by resuming natural gas supplies.
Nord Stream, which crosses the Baltic Sea and flows into Germany, is the largest route.
Here is a look into the idea of resuming Nord Stream:
What is the NORD STREAM PIPELELINE?
Nord Stream is actually two double pipelines that can deliver 110 billion cubic meters (bcm), or enough gas to supply 26 million homes, to Europe every year.
Nord Stream 2 was completed in 2021 but has never been granted an operating permit.
The project, which was controlled by Russian gas company Gazprom, also had the backing of large Western energy companies, including Shell, E.ON Uniper, Engie, OMV, and Wintershall Dea (now owned by Harbour Energy).
What happened when explosions hit the pipeline?
The damage caused by the explosions that occurred in September 2022 is a major obstacle to resuming supplies via Nord Stream.
Damage was sustained to both pipes of the first pair and one pipe of the second pair. One line was left intact. The cause of the damage is still unknown. Some Western officials suggested that Moscow had blown up its own pipes, but Vladimir Putin dismissed this idea as "idiotic".
Russia has accused the United States of being responsible for the explosions. These countries have denied any involvement.
According to estimates, the broken line of NS2 still contains approximately 9-10 millions cubic metres of gas while the intact line is still filled with gas.
What are NORD STREAM's financial problems?
Second pair of pipes is also facing financial problems, as operator Nord Stream 2 AG - a unit of Russia’s Gazprom - faces pressure from its creditors to pay.
A Swiss court has set a deadline of May 9 for Switzerland-headquartered NS2 AG to both restructure its debts and pay back its small-scale creditors, adding it could declare it bankrupt if this condition was not met.
In January, Russian Foreign Minister Sergei Lavrov stated that the possible bankruptcy or sale of NS2 AG amounted to "theft".
NS2 AG was not available for comment.
Gazprom has not responded to a comment request
What is the status of legal cases?
There are several arbitration cases against Gazprom relating to disruptions in its gas supply.
Cederic Crémers, executive vice-president of integrated gas at Shell – one of the financial supporters of the NS2 pipe – said that these cases must be resolved before considering a restart. And even then, the question remains whether Europe wants to continue its dependence on Russian natural gas.
In December, under the then-President Joe Biden, the U.S. Administration issued additional sanctions against entities based in Russia for their involvement in NS2, which included its operator and a Russian insurance company that provided coverage to companies involved in this project.
WOULD EUROPE WANT to buy Russian gas again?
The reopening of Nord Stream may be complicated by the fact that Europe is no longer interested in Russian energy since Russia invaded Ukraine in 2022, and annexed Crimea in 2014.
The European Commission delayed its announcement of a plan for the EU to reduce its reliance on Russian Energy. However, the Commission said that NS2 was not a project in the common interest nor did it diversify EU energy sources.
Germany, Europe's largest gas buyer, has recently stated that it is not in negotiations with Moscow about gas supplies.
The majority of European countries are seeking alternative sources, including increasing the importation of liquefied gas (LNG), from the United States, Africa, and the Middle East, as well as taking on more pipeline imports, such from Norway and Algeria. They also increase renewable energy production. (Reporting from Frankfurt by Christoph Steitz and Nina Chestney; Additional reporting from Ariane Luthi, Kate Abnett and Vladimir Soldatkin; Editing by Jason Neely & Susan Fenton).
(source: Reuters)