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Russia, North Korea consent to enhance charter flights after trade conference, TASS and KCNA state
North Korea and Russia have signed a protocol on cooperation after conferences covering trade, the economy, science and innovation in Pyongyang, North Korean state media KCNA said on Thursday. There were couple of information in the KCNA report, however Russia's TASS news company stated on Tuesday that the nations consented to boost charter flights following the conference, pointing out Russia's. ministry of natural resources. Between January and September, the number of travelers. travelling between Russia and North Korea totaled up to over 5,000. people, with more than 70% taking a trip by air, it stated. The increased charter flights are expected to take off not. only from Russia's eastern area near to North Korea, however likewise. from major Russian cities in other locations, TASS stated, citing the. ministry. KCNA said on Thursday that the Russian delegation led by. natural resources minister Alexander Kozlov, which met North. Korean leader Kim Jong Un on Monday, had now left from. Pyongyang. During the delegation's visit, zoo animals were moved. to North Korea as presents from Russian President Vladimir Putin. Pyongyang and Moscow have actually ramped up diplomatic and financial. exchanges in the past couple of years, culminating in Putin's check out to. North Korea in June, when the nations' leaders concurred a shared. defence pact. The growing defence ties in between the nations has actually stimulated. global alarm, with Washington, Kyiv and Seoul condemning. the North for sending out military devices and more than 10,000. troops to Russia to support its war against Ukraine.
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Iceland volcano emerges for the tenth time in 3 years
A volcano near Iceland's. capital erupted late on Wednesday for the tenth time in three. years, gushing fountains of lava and smoke, the nation's. meteorological workplace said. Iceland, with nearly 400,000 inhabitants, lies on the. fault line between the Eurasian and North American tectonic. plates, making it a seismic hotspot with geysers, warm-water. springs and dozens of volcanoes. As magma accumulated underground, authorities had actually alerted of. imminent volcanic activity on the Reykjanes peninsula, some 30. km (20 miles) south-west of the capital Reykjavik, where the. latest eruption ended just on Sept. 6. The outbreaks on the Reykjanes peninsula, called fissure. eruptions, have not directly affected the capital city and do. not trigger significant dispersal of ash into the stratosphere,. preventing air traffic interruption. Lying inactive for 800 years, the geological systems in the. location reactivated in 2021 and have given that erupted at rising. frequency, with the most recent outbreak being the sixth so far in. 2024. The nearby fishing town of Grindavik, home to almost 4,000. homeowners before an evacuation order in December last year,. remains mostly deserted due to the regular danger from lava. flows. Icelandic authorities have set up barriers to divert the. streams of molten rock far from the town, along with from. infrastructure such as a close-by power station and heaven. Lagoon, a medical spa facility with hotels and large natural pools. Researchers have cautioned that Reykjanes is likely to. experience duplicated volcanic break outs for years, perhaps. even centuries. The eruptions are not anticipated, nevertheless, to cause the level. of disruption seen when the Eyjafjallajokull volcano burst in. 2010, spreading out ash clouds throughout Europe and grounding some. 100,000 flights globally.
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Senators ask Biden administration to back higher pilot retirement age
A bipartisan group of five U.S. senators consisting of inbound Senate Bulk Leader John Thune advised President Joe Biden's administration on Wednesday to back worldwide efforts to raise the compulsory pilot retirement age. Last year, Congress rejected a push to raise the necessary airline company pilot retirement age to 67 from 65. International guidelines prevent airline pilots older than 65 from flying in the majority of nations outside the United States. The group of senators is led by Marsha Blackburn and includes her fellow Republicans Thune and Lindsey Graham as well as Democrat Mark Kelly and independent Joe Manchin. They advised U.S. Secretary of State Antony Blinken to supporter at the International Civil Aviation Company, an company of the United Nations, for hiking the retirement age. They did not suggest a specific age. The American public deserves the most certified and skilled pilots when traveling, the senators wrote in the letter initially reported . The State Department, Federal Aviation Administration and the Air Line Pilots Association did not right away respond to ask for comment. A group representing significant airlines declined to comment. The senators prompted the U.S. objective to ICAO to not spend this dispute resting on the sidelines. If the United States cedes our management function in this area on the international stage, we understand that China - who is presently and actively joining our partners to promote for raising the pilot retirement age - will gladly fill that void. The FAA in February asked Congress to offer it time to conduct additional research study before raising the retirement age. The U.S. House of Representatives had actually voted 351-69 in July 2023 to approve a sweeping air travel costs that would also raise the compulsory pilot retirement age to 67. However the provision was dropped from the final legislation gone by Congress. The Air Line Pilots Association has actually opposed raising the retirement age and said such a move could trigger airline company scheduling and pilot training problems and likewise require resuming pilot contract talks. The U.S. mission to ICAO in Montreal has actually been without an ambassador because Chesley Sully Sullenberger, the commercial airline pilot who securely landed a Jet A320 on New York's. Hudson River in 2009, stepped down in July 2022. Biden nominated. previous Florida Guv Charlie Christ to the post in 2023, however. the Senate has actually not validated the consultation.
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Italy acts versus 'wild' e-scooters after increase in accidents
Italy's parliament authorized a. bill on Wednesday that will need escooter riders to use. helmets and be insured, while likewise presenting harder fines for. rogue parking as part of a wider overhaul of the highway code. The Senate offered last approval to the law with a 83-47 vote. Like in other European countries, e-scooter usage has actually surged. in Italy over the last few years. But the boom has also brought an increase. in mishaps and problems from drivers and pedestrians about. riders flouting safety and parking rules. No more wild scooters, Transport Minister Matteo Salvini. stated in a social media post, including that e-scooters will also be. needed to have license plates and be banned from cycle lanes,. pedestrian areas and non-urban roads. National data institute ISTAT said in July that road. accidents with injuries including e-scooters rose to 3,365 in. 2023, with 21 deaths, up from 2,929 injuries and 16 deaths in. 2022. Other countries in Europe have likewise restricted e-scooter. usage. In 2015, French capital Paris prohibited leased two-wheeled. electric vehicles following a referendum, and Madrid chose in. September to prohibit them also. Supporters of e-scooters, which in cities like Rome and Milan. are popular with residents and travelers, state they provide a. zero-pollution and low-cost option to public transport or. other mobility alternatives. E-scooter rental companies criticised the constraints as. overly punitive, pointing out that their vehicles go through. speed limitations and are geo-localised, reducing dangers of. abuse. They have a technology that prevents particular bad behaviours. that are the source of the most serious mishaps, Andrea. Giaretta, Vice President for Southern and Western Europe, Middle. East at Dott, informed Reuters. Giorgio Cappiello, head of institutional relations in Italy. for Bird, another rental business, called the brand-new guidelines. completely ideological and said his company reported no. casualties on their automobiles in 2022 and 2023. The modified highway code likewise includes stiffer penalties for. driving under the impact of alcohol or drugs, along with a. jail regard to approximately 7 years for those who abandon animals on the. road, causing accidents. Salvini, who is likewise deputy prime minister and leader of the. hard-right League party, stated the changes were prepared after. wide assessments with a common goal: decrease the carnage on. Italian roadways..
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Argentina's YPF to look for $2 billion in funding for oil pipeline in Q2 2025
Argentina's staterun oil company YPF will seek $2 billion in funding in the 2nd quarter of 2025 to complete its Vaca Muerta Sur job, a company source stated on Wednesday. The project is being performed by Vaca Muerta Oil Sur ( VMOS), which is managed by YPF, and intends to carry an additional 390,000 barrels daily from the Vaca Muerta development to a coastal export terminal in Rio Negro province. The source said that the company is seeking $1.5 billion from foreign investors and $500 million in your area and wishing to add Pampa Energy, Vista, Shell, Chevron and Pan American Energy as partners. This pipeline will permit more than double the oil evacuation capacity out of Vaca Muerta, YPF CEO Horacio Marin said at an interview in Buenos Aires on Wednesday. The VMOS task will make Argentina one of the primary exporters in the area, he included. The business is seeking financing for 70% of the task, which will amount to around $3 billion, the source stated. The rest will be financed with equity from the companies that get capability on the pipeline.
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Italy to implement helmets, insurance coverage for e-scooter riders after mishaps
Italy's parliament on Wednesday authorized an expense that will need escooter riders to wear helmets and be insured, while also presenting tougher fines for rogue parking as part of a broader overhaul of the highway code. Like in other European nations, e-scooter usage has risen in Italy over the last few years. But the boom has actually also brought an increase in mishaps and complaints from motorists and pedestrians about riders flouting security and parking rules. No more wild scooters, Transportation Minister Matteo Salvini said in a social networks post, including that e-scooter users will likewise be needed to get license plates and be banned from cycle lanes, pedestrianised areas and non-urban roads. National stats institute ISTAT stated in July that road accidents with injuries including e-scooters rose to 3,365 in 2023, with 21 deaths, up from 2,929 injuries and 16 deaths in 2022. Other nations in Europe have likewise limited e-scooter use. In 2015, the French capital Paris banned rented two-wheeled electric automobiles following a referendum, while Madrid withdrew their licences in September. Italy's Senate gave final approval to the brand-new highway code in a 83-47 vote. The reform includes stiffer penalties for drink-driving or the use of drugs, and a jail regard to as much as 7 years for those who abandon animals on the roadway, resulting in mishaps. Salvini, who is likewise deputy prime minister and leader of the hard-right League celebration, stated the brand-new rules were prepared after broad assessments with a typical goal: lower the carnage on Italian roads. Supporters of e-scooters, which in cities like Rome and Milan are popular with residents and travelers, state they supply a. zero-pollution and low-cost alternative to public transport or. other movement choices. Giorgio Cappiello, the head of institutional relations in. Italy for rental business Bird, stated the reform was totally. ideological and companies had reported no casualties on their. vehicles in 2022 and 2023.
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TIMELINE-Key current Russian attacks that have actually pounded Ukraine's power facilities
Ukrainians are withstanding long power blackouts after Russia unleashed its largest air campaign on Ukraine in practically three months on Sunday, eliminating seven people and restoring fears over the durability of the power system this winter season. Ukrainian authorities often do not disclose which plants have been hit or how badly for security factors. Russia says energy facilities is a genuine military target in the fullscale invasion in released in Feb. 2022. Here is an introduction of this year's Russian attacks on Ukraine's energy centers as reported by Ukrainian authorities. The Kyiv School of Economics estimates it will already cost $50. billion to restore the system: NOVEMBER 17 Russia introduced 120 rockets and 90 drones, killing at least. 7 individuals and causing extreme damage to the power system. Power distributor DTEK enforced emergency situation power cuts of approximately. 8 hours across large parts of Ukraine. The Black Sea port. city of Odesa was initially without power for more than 48. hours. By Nov. 19, the power cuts had been reduced to 4 hours,. however they were still being implemented everywhere apart from. western regions on Nov. 20. In the capital Kyiv, the sound of. generators was deafening, with buildings in the centre near the. presidential workplace amongst those impacted. SEPTEMBER 12. Russian forces attacked energy infrastructure in six areas,. temporarily interrupting the work of power substations in a minimum of. 3. SEPTEMBER 11. Russia assaulted energy infrastructure in 4 areas and. momentarily interrupted high-voltage lines in Poltava region and. power substations in Kharkiv region. SEPTEMBER 10 Eight regions' energy infrastructure was attacked, with. high-voltage lines and power substations interfered with in several. AUGUST 26. More than 200 missiles and drones eliminated seven people and struck. energy centers across the country, including Volyn and Rivne in the. northwest, Khmelnytskyi, Lviv and Ivano-Frankivsk in the west,. Zhytomyr in the north, Dnipropetrovsk, Kirovohrad and Vinnytsia. in main Ukraine, Zaporizhzhia in the southeast and Odesa in. the south. AUGUST 20. Russia hit energy facilities in northern Ukraine over night. and caused a big fire in the west, while the northeastern Sumy. area surrounding Russia reported blackouts in 72 settlements for. more than 18,500 customers. AUGUST 13. Russian drones assaulted energy facilities the northern. area of Chernihiv. JUNE 20. A missile and drone attack struck energy infrastructure in 4. eastern and main regions, with a thermal power plant. seriously harmed, three power workers hurt and blackouts in. some areas. JUNE 1. A barrage of Russian rockets and drones damaged energy. centers and critical facilities in the east, centre, and. west: two thermal power plants were struck and equipment seriously. damaged. MAY 31. A Russian missile attack ruined a power facility and damaged. the power grid in Kyiv. MAY 8. Russia hit important energy infrastructure in the Stryi district,. where Ukraine has a significant underground gas storage site, and a. power generation facility in Chervonohrad district in western. Ukraine. APRIL 27. Russian missiles pounded power facilities in main and western. Ukraine with four of DTEK's six thermal power plants. assaulted. APRIL 12. Russian attacks triggered a fire at an energy facility in the. eastern Dnipropetrovsk area and damaged critical. infrastructure in the southern Kherson region. APRIL 11. Russian over night strikes completely ruined the large. Trypilska thermal power plant outside Kyiv, a significant provider for. the regions of Kyiv, Cherkasy and Zhytomyr, developed to have a. capacity of 1,800 megawatts. APRIL 10. A Russian missile and drone attack triggered blackouts in the Black. Sea region of Odesa and the nearby city of Mykolaiv. MARCH 29. A major Russian missile and drone attack hit thermal and hydro. power plants in central and western Ukraine. Five of the 6. DTEK power stations sustained major damage. The Kaniv. hydroelectric power plant was among the targets in addition to the. Dniester hydroelectric plant. MARCH 24 An underground natural gas storage site in western Ukraine. was attacked. MARCH 22. Russia utilized 88 rockets and 63 Shahed drones in what Ukraine. stated was Russia's largest airstrike on its energy infrastructure. in 2 years of war. The attack struck Ukraine's biggest dam,. the DniproHES hydroelectric power facility in the southern. Zaporizhzhia area, 8 times. At least five individuals were. killed and more than a million others were left without power. Prime Minister Denys Shmyhal said around 20 substations and. electricity stations had actually likewise been struck. DTEK energy group stated. it lost 50% of its generating capacity and the 10-unit Zmiivska. thermal plant in northeastern Kharkiv area was damaged.
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TIMELINE-The Russian attacks that have actually pounded Ukraine's power centers
Ukrainians are enduring long power blackouts after Russia released its largest air campaign on Ukraine in almost three months on Sunday, eliminating seven people and renewing fears over the durability of the power system this winter season. Ukrainian authorities typically do not reveal which plants have been hit or how terribly for security reasons. Russia states energy facilities is a genuine military target in the fullscale invasion in launched in Feb. 2022. Here is an introduction of this year's Russian attacks on Ukraine's energy facilities as reported by Ukrainian authorities. The Kyiv School of Economics estimates it will currently cost $50. billion to bring back the system: NOVEMBER 17 Russia introduced 120 missiles and 90 drones, eliminating at least. 7 people and causing severe damage to the power system. Power distributor DTEK enforced emergency power cuts of up to. 8 hours throughout large parts of Ukraine. The Black Sea port. city of Odesa was initially without power for more than 48. hours. By Nov. 19, the power cuts had been minimized to 4 hours,. but they were still being implemented all over apart from. western areas on Nov. 20. In the capital Kyiv, the noise of. generators was deafening, with structures in the centre near the. presidential office amongst those impacted. SEPTEMBER 12. Russian forces assaulted energy facilities in 6 regions,. briefly disrupting the work of power substations in at least. three. SEPTEMBER 11. Russia attacked energy infrastructure in 4 regions and. momentarily disrupted high-voltage lines in Poltava area and. power substations in Kharkiv region. SEPTEMBER 10 8 areas' energy facilities was assaulted, with. high-voltage lines and power substations interrupted in a number of. AUGUST 26. More than 200 missiles and drones killed 7 individuals and struck. energy centers across the country, including Volyn and Rivne in the. northwest, Khmelnytskyi, Lviv and Ivano-Frankivsk in the west,. Zhytomyr in the north, Dnipropetrovsk, Kirovohrad and Vinnytsia. in central Ukraine, Zaporizhzhia in the southeast and Odesa in. the south. AUGUST 20. Russia hit energy facilities in northern Ukraine overnight. and caused a big fire in the west, while the northeastern Sumy. area surrounding Russia reported blackouts in 72 settlements for. more than 18,500 consumers. AUGUST 13. Russian drones attacked energy facilities the northern. area of Chernihiv. JUNE 20. A rocket and drone attack struck energy infrastructure in four. eastern and central areas, with a thermal power plant. seriously harmed, 3 power employees hurt and blackouts in. some locations. JUNE 1. A barrage of Russian missiles and drones harmed energy. facilities and critical infrastructure in the east, centre, and. west: two thermal power plants were hit and devices seriously. damaged. MAY 31. A Russian rocket attack destroyed a power center and harmed. the power grid in Kyiv. MAY 8. Russia struck crucial energy facilities in the Stryi district,. where Ukraine has a major underground gas storage site, and a. power generation facility in Chervonohrad district in western. Ukraine. APRIL 27. Russian missiles pounded power centers in central and western. Ukraine with 4 of DTEK's six thermal power plants. attacked. APRIL 12. Russian attacks triggered a fire at an energy facility in the. eastern Dnipropetrovsk region and harmed crucial. facilities in the southern Kherson area. APRIL 11. Russian overnight strikes totally destroyed the big. Trypilska thermal power plant outside Kyiv, a significant supplier for. the regions of Kyiv, Cherkasy and Zhytomyr, built to have a. capability of 1,800 megawatts. APRIL 10. A Russian rocket and drone attack caused blackouts in the Black. Sea region of Odesa and the neighboring city of Mykolaiv. MARCH 29. A significant Russian missile and drone attack hit thermal and hydro. power plants in central and western Ukraine. 5 of the 6. DTEK power stations sustained serious damage. The Kaniv. hydroelectric power plant was amongst the targets along with the. Dniester hydroelectric plant. MARCH 24 An underground gas storage site in western Ukraine. was attacked. MARCH 22. Russia used 88 rockets and 63 Shahed drones in what Ukraine. said was Russia's biggest airstrike on its energy infrastructure. in two years of war. The attack struck Ukraine's largest dam,. the DniproHES hydroelectric power facility in the southern. Zaporizhzhia area, 8 times. A minimum of five individuals were. eliminated and more than a million others were left without power. Prime Minister Denys Shmyhal stated around 20 substations and. electrical energy stations had actually also been struck. DTEK energy group stated. it lost 50% of its producing capability and the 10-unit Zmiivska. thermal plant in northeastern Kharkiv area was destroyed.
Europe's financial problems may get worse as crucial power rates increase: Maguire
Wholesale power rates across key economies in mainland Europe have reached their highest levels in over a year, dealing a fresh blow to the region's organizations that are already battling weak demand and vulnerable consumer belief.
Average wholesale base power prices in Germany, France, the Netherlands, Spain and Poland have reached their highest levels in a minimum of 20 months so far in November, according to power market data assembled by LSEG.
Power costs in Italy have actually just climbed to four-month highs, but are already the greatest amongst significant continental European economies therefore have helped raise the local power cost average to the highest given that February 2023.
With European energy use set to peak over the coming months due to higher heating demand during winter season, power expenses could climb even more.
That could produce fresh headwinds for regional economies that have actually struggled to grow considering that Russia's intrusion of Ukraine in 2022 upended local power markets and lifted typical energy costs throughout Europe.
HIGH AND RISING
The modification in typical European wholesale electrical power rates considering that Russia invaded Ukraine in February 2022 underscores the scale of the energy expense increase seen in crucial nations.
In Germany, Europe's largest economy and leading maker, wholesale electricity prices considering that March 2022 have actually balanced 138 euros per megawatt hour (MWh), according to information from Coal.
That average is 280% more than the average from 2016 through 2019, and so means that German electrical power consumers have paid almost 4 times more for their electrical energy given that Russia invaded Ukraine than during the 2016 to 2019 duration.
Such a significant jump in energy costs has affected every energy consumer in the nation, and forced all energy intensive organizations to throttle back on power usage.
France, Italy and The Netherlands have also tape-recorded over 200% leaps in typical electrical power costs over the very same time frame. Poland's electricity expenses have actually leapt 180%, and Spain's. 103%, Cinder data shows.
FINANCIAL HIT
The slump seen in the German economy's massive commercial. base has recorded the broader impact of higher power expenses across. Europe.
Production of energy-intensive products such as steel,. chemicals and fertilizers tumbled to tape or multi-year lows. in the after-effects of Russia's invasion of Ukraine, and has hardly. recuperated considering that, according to LSEG data.
Output of made items has actually likewise been affected, with. production of turbines and engines holding around 30% below the. previous output peak.
Even Germany's famed automobile sector - a significant company. throughout Europe - has sliced new vehicle production by over 30%. from pre-COVID levels as high power expenses plus stiff competitors. from China and other competitors battered manufacturers.
This cumulative industrial downturn has in turn taken a toll. on national and regional financial growth.
Germany's gross domestic product (GDP) has actually broadened by just. 0.4% a year considering that 2022 compared to a typical annual growth speed. of almost 2% from 2010 through 2019, according to the. International Monetary Fund.
Poland, The Netherlands and France are all likewise on course to. report considerably lower development in 2024 than the 2010-2019. average, IMF information shows.
RENEWABLES RESET
To try to offset the impact of minimized supplies of natural. gas from Russia and higher total power rates, countries. across Europe released record volumes of clean power since 2022.
Over the first 10 months of 2024, electrical power generation. from clean sources was up by 11.5% from the very same months in 2022,. to a record 2,450 terawatt hours (TWh), according to Ember.
Generation from nonrenewable fuel sources was down 16% because 2022 to. 1,452 TWh, thanks to a 21% cut to coal-fired generation and a. 14% drop in gas-fired output.
Nevertheless, total electrical power generation stays listed below 2022. levels, as numerous countries have actually struggled to replace all the. lost fossil fuel output with generation from clean power.
Rather assisting the power sector has actually been the truth that the. sustaining decline in commercial activity throughout Europe has implied. that most power systems have actually not required to generate as much. power as was consumed in 2022.
Moving forward, however, many of Europe's significant industrial. sections are under pressure to increase activity, especially from. city governments who are keen to prevent additional job losses and. to increase tax invoices.
However in order to lift output business need to be able to pay for. the additional energy required, which is not guaranteed if power. costs continue to press greater in the months ahead.
Some of Europe's most profitable business might have the ability to. stomach rising energy costs as long as consumer demand remains. company.
But for those cost-conscious sectors that stay under. pressure from global rivals and still-weak customer. need, greater power prices might require more cuts to output. that could stall economic momentum.
<< The viewpoints expressed here are those of the author, a. writer .>
(source: Reuters)