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Belgium announces border controls in immigration clampdown
By Charlotte Van Campenhout BRUSSELS - The government announced that Belgium would introduce border checks to curb illegal immigration. This is another restriction on the free movement of people across Europe's Schengen area. Anneleen Van Bossuyt's spokesperson, who is the junior minister of migration, announced on Friday that the restrictions will begin this summer in the country bordering the Netherlands, France and Germany. "Time for entry checks. Belgium cannot be a magnet to those who are stopped elsewhere. Van Bossuyt, writing on X, said: "Our message is clear. Belgium will not tolerate illegal immigration and asylum shopping." This announcement comes after similar actions by the Netherlands, Germany and other countries in Europe, as part of a wider crackdown on migration on the continent. The checks will be conducted in a targeted way on major access routes such as motorway parking lots, bus traffic, certain trains, and intra-Schengen flight from countries that have high migration pressure such as Greece and Italy," said a late Thursday statement by the Belgian government. Bart De Wever is the Prime Minister of his right-leaning Government, and has been in office since February. He said that curbing immigration was a top priority. The Schengen Area is open to all 29 of its member states, allowing them to travel freely between each other. Article 23 of the Schengen Borders Code allows members to temporarily reinstate border controls in response security or migration pressures. The Belgian Immigration Office spokesperson said that it is difficult to estimate the illegal immigration numbers without systematic border checks. The Federal Agency for the Reception of Asylum Seekers has revealed that Belgium, which is one of the richest countries in the world, will receive 39,615 applications for asylum in 2024. This represents an increase of 11.6% over 2023. According to figures, the country was only able to accommodate 35,600 applicants by 2024. This left many new arrivals with no proper housing. Charlotte Van Campenhout reported and Andrew Heavens edited.
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Turkey's Urals crude imports will reach a 1-year high in the month of June
LSEG data and two sources stated that the increase in Turkey's Urals crude imports is due to seasonal demand and healthy refinery margins. According to LSEG, the imports of Urals in Turkey will reach 1.64 million metric tonnes in May. This will be the highest level since May 2024 when the country imported 1,76 million tons. The second largest importer of Urals crude oil by sea is Turkey, after India. It has not complied with Western sanctions against Russia, but it does comply with international laws. Data shows that urals prices were below $60 per barrel at Russian ports during April and May. However, they have recently increased above this cap due to Brent prices rising. Traders said that the price hike could put pressure on Turkey’s Russian oil imports. Tupras, Turkey’s largest refiner, resumed purchasing Urals crude after stopping purchases in February because of U.S. sanctions. The Group of Seven has introduced a price cap that prevents Western companies from providing insurance or transport services to Russian oil cargoes priced at more than $60 a barrel. (Reporting and Editing by Joe Bavier).
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Maersk suspends Haifa calls temporarily
Maersk, a container shipping company, announced on Friday that it has temporarily suspended vessel calls to Israel's Haifa Port due to the country's escalated conflict with Iran. The Danish company stated that it has not encountered any other disruptions in its planned operations in the area. Haifa Port, which will be privatized by India's Adani Ports in 2022, has 70% of its ownership held by Adani Ports, while 30% belongs to Israel's Gadot Group. Adani Ports, the port-operating arm of Adani Group led by billionaire Gautam Adani, is part of Adani Group. The company has four ports, including Haifa Port. The Adani Group spokesperson did not respond immediately to email or text messages asking for comment. Israel has been attacking Iran from the sky since last Friday, in an effort it claims is to stop Tehran from developing nuclear arms. Iran denies plans to create such weapons, and in response has launched counter-strikes against Israel. The Iranian Revolutionary Guards announced on Thursday that they had carried out a combined missile and drone attack at sites in Haifa, Tel Aviv and other cities linked to Israel's defense industry. Reporting by Jacob GronholtPedersen and HritamMukherjee; writing by Stine Jacobsen; editing by Louise Rasmussen & Toby Chopra
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HAL, the Indian warplane manufacturer, wins the bid to privatise India’s small satellite launchers
The Indian space regulator announced on Friday that Hindustan Aeronautics Ltd had won the contract to manufacture small satellite launch rockets in India. This is the biggest step the government has taken to allow private companies to enter the fast-growing industry. In February, it was reported that three consortiums, Alpha Design Technologies (a unit of Adani Defence Systems and Technologies), state-backed Bharat Dynamic and HAL, were the finalist to acquire India's Small Satellite Launch Vehicle technology. Indian Space Research Organisation said that HAL, a manufacturer of fighter jets, had submitted an application independently. HAL won the bid with 5.11 billion rupees (59 million dollars), Pawan Goenka of the Indian National Space Promotion and Authorisation Centre told reporters. He added that the technology transfer stage will take two year. After the announcement, shares of HAL rose by as much as 1,6% and reached a session high at 4,980 Rupees. India's space sector has made a major shift by transferring the SSLV technology to HAL. The industry had previously granted satellite communications service licenses to international and domestic companies such as France's Eutelsat. Satellite venture of Reliance Jio Goenka said that by winning the bid for the SSLV rocket capable of carrying 500kg to low-Earth, HAL would be able to independently build, own and commercialize SSLV launch, he added. Around 20 companies initially expressed an interest in bidding on the SSLV. This was the first privatisation under Prime Minister NarendraModi's policy to open up India’s space industry. Global Market Insights estimates that the global market for low-Earth orbit launch vehicles will reach $13.9 billion by 2023, and grow to $44 billion around 2032. India, which only accounts for 2% of global space economics, is aiming to grow five-fold, reaching $44 billion, by the end decade.
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As US rate cuts expectations decline, gold is poised to have its worst week in over a month
The gold price fell on Friday, and was on track for its worst weekly performance for more than a week after the Federal Reserve moderated expectations for rate reductions and temporarily eased concerns over an imminent U.S. strike on Iran. As of 0851 GMT spot gold was down 0.6% at $3,350.66 per ounce and 2.4% on the week. U.S. Gold Futures fell 1.2% to $3366.30. The dollar has gained 0.5% this week, and is on track to make its largest weekly gain in more than a month. This makes gold more expensive for those who hold other currencies. The White House announced on Thursday that President Donald Trump would decide within the next two week whether or not the U.S. is going to get involved in Israel-Iran's air war. Israel and Iran's war in the air entered its second week on Saturday. Trump's deadline of two weeks "indicates a bit more hope that things can cool down before U.S. involvement with that military strike." "I think this is easing some of that anxiety in the markets, which has allowed gold prices to deflate just a bit," said Nitesh Sharma, commodities strategist at WisdomTree. In a low-interest rate environment, gold, which is a safe haven during political and economic unrest, tends to flourish. The Fed held its interest rates steady at the current range of 4.25% to 4.50% on Wednesday but reduced its outlook for future rate cuts due to an increasingly challenging economic outlook. Trump reiterated on Thursday his call for the Federal Reserve's interest rate to be cut by 2.5 percentage points. Ole Hansen is the head of commodity strategy for Saxo Bank. He said that "gold, silver, platinum, all suffered setbacks after traders booked profits following Wednesday's FOMC Meeting." Gold is expected to continue its current consolidation phase, with support at around $3,320, followed by $3.245." Palladium increased 0.1%, to $1,051.53, while spot silver fell 1%, to $36.01 an ounce. After hitting its highest price in more than 10 years during the previous session, platinum fell by 1.4% to $1289.52. (Reporting and editing by Susan Fenton in Bengaluru, Anushree Mokherjee)
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After Israel's attack on Iran, airlines suspend flights
International airlines have stopped flights to certain Middle East destinations following Israel's attacks against Iran. Here are some airlines that have cancelled flights from and to the region. AEGEAN AIRLINES Aegean Airlines, a Greek airline, has cancelled all flights from and to Tel Aviv, including the early morning flight of July 12. It also cancelled all flights from and to Beirut, Amman and Erbil, up until the morning arrivals on June 28. AIRBALTIC AirBaltic, a Latvian airline, has announced that it will cancel all flights from and to Tel Aviv up until September 30. AEROFLOT After Israel's attack on Iran, Aeroflot announced that it has cancelled flights between Moscow-Tehran and changed other routes in Middle East. AIR EUROPA Spanish airline cancels flights from and to Tel Aviv through July 31. AIR FRANCE-KLM Air France has suspended flights to and out of Tel Aviv, until further notice. KLM has cancelled all flights from and to Tel Aviv, at least until July 1, and warned that flights from, to or via Beirut may be affected until June 29. Transavia has announced that it will not be operating flights between Tel Aviv and Amman, or Beirut and Beirut. Israeli Airlines announced that all flights will be cancelled until June 21, 2018. AZERBAIJAN AIRLINES Azeri Airlines temporarily suspended flights from and to Tel Aviv between June 30 and July 1. BLUEBIRD AERWAYS The Greek airline announced that all flights between June 13 and 24 (inclusively) had been cancelled and new bookings are not allowed for those flights between June 25 to June 30 until security is clarified. DELTA AIR LINES Travel to, from or through Tel Aviv could be affected between June 12 and July 31. EL AL ISRAEL AIRLINES El Al Israel Airlines announced that they had cancelled their regular flight schedules for EL AL through June 23. Flights scheduled to depart until July 15 are also closed for bookings. ETHIOPIAN AIRLINES Ethiopian Airlines has suspended flights in both directions between Addis Ababa, Ethiopia and Tel Aviv until June 22, 2018. ETIHAD AERWAYS Etihad Airways has cancelled all flights between Abu Dhabi, Amman and Tel Aviv between June 20 and June 30. EMIRATES Emirates has temporarily suspended its flights from and to Jordan (Amman), Lebanon (Beirut), Iran (Teheran), and Iraq (Baghdad, Basra and Basra). FLYDUBAI Flydubai has temporarily suspended its flights to and out of Iran, Iraq and Israel until June 30, 2018. British Airways, owned by IAG, has announced that flights to Tel Aviv will be suspended until July 31, and flights to Amman or Bahrain will also be suspended up to June 30. Iberia Express, IAG's low cost airline, announced previously that it would cancel its flights to Tel Aviv up until June 30. ISRAIR Israeli Airlines has announced that all flights to and from Israel have been cancelled until June 30, 2018. ITA AIRWAYS Italian Airlines announced that it will extend the suspension of Tel Aviv flight until July 31. This includes two flights scheduled for August 1. LUFTHANSA GROUP Lufthansa has suspended flights from and to Tel Aviv, Tehran and Beirut until July 31. Amman and Erbil flights are cancelled through July 11. German Airlines has also announced that they will not be using the airspace of these countries until further notice. PEGASUS Turkish Airlines has cancelled all flights to Iran and Iraq until June 30, and to Lebanon, Jordan and Lebanon until June 23, according to the airline. QATAR AIRWAYS Qatar Airways has temporarily cancelled all flights from and to Iraq, Iran, and Syria. RYANAIR Ryanair has announced that it will cancel flights from and to Tel Aviv up until September 30. Romania's flag airline has suspended all commercial flights from and to Tel Aviv, Beirut, and Amman till June 24. TUS AIRWAYS The Cypriot Airlines cancelled all flights scheduled to depart and arrive in Israel until June 24, inclusive. The airline said that flights scheduled to depart between June 25 and 30 will be closed for sales pending any further developments. UNITED AIRLINES According to the U.S. airline, travel from and to Tel Aviv could be affected between 13 June and 1 August. There may be problems with flights to Dubai between the dates of June 18 and 25, as well. WIZZ AIR Wizz Air has announced that it will suspend its flights to and from Tel Aviv, Amman and Jordan until September 15. Hungarian Airlines will not overfly Israeli, Iraqi or Iranian airspaces until further notice. (Reporting and compilation by bureaus, compiled by Agnieszka Olesnka, Elviira Loma, and Tiago Brancao; Editing by Matt Scuffham, Alison Williams and Matt Scuffham)
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HAL, the Indian warplane manufacturer, wins bid to privatise India’s small satellite launchers
The Indian space regulator announced on Friday that Hindustan Aeronautics Ltd had won the contract to manufacture small satellite launch rockets in India. This is the biggest step the government has taken to allow private companies to enter the fast-growing industry. In February, it was reported that three consortiums, Alpha Design Technologies (a unit of Adani Defence Systems and Technologies), state-backed Bharat Dynamic and HAL, were the finalist to acquire India's Small Satellite Launch Vehicle technology. Indian Space Research Organisation (ISRO), in a Friday statement, said that HAL, a fighter jet manufacturer, had independently applied. The deal value was not disclosed. HAL had been reported to have paid about 3 billion Indian Rupees ($35 million) in the past. HAL, which won the bid for the SSLV rocket capable of carrying 500kg of payloads into low-Earth orbit will be able to independently build, own and commercialize SSLV launch, according to Pawan Goenka of the Indian National Space Promotion and Authorisation Centre. Around 20 companies initially expressed an interest in bidding on the SSLV. This was the first privatisation under Prime Minister NarendraModi's policy to open up India’s space industry. Global Market Insights estimates that the global market for low-Earth orbit launch vehicles will reach $13.9 billion in 2020 and grow to $44 billion by 2032. India, which only accounts for 2% of global space economics, is aiming to grow five-fold, reaching $44 billion, by the end decade.
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India's Delhivery launches short-haul freight service to rival Uber and Porter
Delhivery, an Indian courier firm that delivers parcels in short distances, launched their service at two locations in India on Friday. This is a move to increase competition in the market which has been dominated by Uber and Kedaara Capital's Porter. Following the success of Quick-Commerce delivery services where everything from mobile phones to milk is delivered in 10 minutes, near-distance delivery has become increasingly popular. Uber, Swiggy's ride-hailing app Rapido and Porter, among others, are currently the firms that transport parcels between areas of a city. Delhivery currently offers its service only in the capital and in the southern IT hub, Bengaluru. However, the company plans to expand rapidly to other metro areas, according to MD and CEO Sahil B Barua. Delhivery and other third-party logistics companies are looking to diversify their business as they compete with the in-house logistics divisions of ecommerce giants like Amazon, Walmart-backed Flipkart, and others. (Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)
Ukraine aims to import gas via Transbalkan Pipeline at lower transit fees
The Ukrainian energy ministry announced on Tuesday that the Ukraine's energy regulator had approved a mechanism for importing gas from Greece through the Transbalkan Pipeline. This will allow the gas to be delivered without paying high transit fees.
Since a series devastating Russian missile attacks this year that significantly reduced the domestic gas production, Ukraine has been facing a severe gas shortage.
Ukraine imports gas through Slovakia and Hungary but not via the southern route due to its higher transit fees, since gas from LNG Terminals in Greece passes also through Bulgaria, Romania, and Moldova.
The Transbalkan route is a viable option to meet Ukraine's immediate transportation needs. However, it passes through five different countries and its direct tariff application makes it less attractive to commercial interests than other options.
The ministry stated that gas transit operators from five countries "developed an optimized solution which will allow, in particular, the use of currently unused capacities of the Transbalkan pipe to import gas into Ukraine at a very competitive tariff."
The ministry did not give any further details but stated that they hoped for positive decisions on the route from all countries participating.
Analysts and former officials estimate that the imports will be around 6.3 billion cubic meters (bcm).
Ukraine's Naftogaz, the state-owned firm, has begun buying U.S. LNG. It purchased 300 million cubic meters (mcms) from Poland's Orlen. Orlen's supplies are delivered through Poland.
The Polish and Lithuanian routes are the cheapest. However, Ukraine will also need to use another pipeline as the Polish interconnector only allows imports of up to 7 mcm a day, while the demand is at least 25 mcm.
Ukraine will import approximately 20 mcm gas from Slovakia and Poland on Tuesday.
As our EU partners, Ukraine is actively searching for alternative routes to supply gas after abandoning Russian energy. German Galushchenko, Ukraine's Energy Minister, said that the Transbalkan route was important in this context. (Reporting and editing by David Goodman, David Evans and Yuliia Polityuk)
(source: Reuters)