Latest News
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India's Indigo continues to struggle as travel disruptions cause flight delays
IndiGo shares fell 4.8% Monday. They are on track for their worst session in over a month, and have now lost seven sessions. A staffing crisis caused mass cancellations of flights and travel disruptions. IndiGo, India’s largest airline based on market share, is suffering from its worst operational crisis. A pilot shortage compounded with inadequate planning of new rules for crew working hours led to thousands of cancellations in the last week. This left passengers stranded at airports, and forced the Indian government to step in to stop a sharp rise in air fares. The civil aviation regulator gave the company 24 hours on Sunday to explain its position and avoid regulatory action. SpiceJet shares rose 13.9%. IndiGo's shares fell 9% last week, their biggest weekly decline since June 2022 when an increase in COVID-19 cases impacted air travel demand.
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What are the differences between the militaries of Cambodia and Thailand?
Thailand's military has announced that it launched airstrikes along its disputed border, with Cambodia. Both countries had accused each other of violating a ceasefire mediated by U.S. president Donald Trump. Thailand suspended its de-escalation measure last month after a Thai army soldier was injured in the latest of a series of incidents that involved landmines, which Bangkok claims were laid by Cambodia. Cambodia denies the accusations. Budgets and Ground Personnel In 2024, Cambodia had a defense budget of $1.3billion and 124.300 active military personnel. The Armed Forces were formed in 1993 by merging the former Communist military of Cambodia with two other resistance arms. The largest of these is the Cambodian Army, which has around 75,000 soldiers and more than 200 battle tank, along with 480 pieces artillery. Thailand is classified by the U.S. as a major non NATO ally. It has a well-funded, large military with a budget of $5.73billion in 2024. There are also over 360,000 active members. The Thai army is composed of 245,000 soldiers, including 115,000 conscripts. It also has 400 battle tanks, more than 1,200 armored personnel carriers, and 2,600 artillery guns. The army's fleet includes passenger planes, Black Hawk helicopters (made in the USA) and unmanned aerial vehicle. Air Forces The Cambodian air force is composed of 1,500 personnel and a fleet that includes 10 transport aircrafts and 10 helicopters. The country does not have any fighter aircraft, but it has 16 multi-role rotorcraft including six Soviet Mi-17 helicopters and 10 Chinese Z-9 helicopters. Thailand's air force is one of the most well-equipped and best trained in Southeast Asia. It has an estimated 46,000 people, 112 combat aircraft including 28 F-16s, 11 Swedish Gripen fighters and dozens helicopters. NAVIES The Cambodian Navy has a total of 2,800 personnel including 1,500 naval soldiers, 13 patrol and coastal battle vessels, and one amphibious landcraft. Thailand's Navy is larger than most, with 70,000 members, including marines, naval aviation, coastal defense, and conscripts. The fleet consists of one aircraft carrier and seven frigates. There are also 68 patrol vessels and coastal combat ships. Thai naval forces also include amphibious landing ships that can hold hundreds of soldiers each, as well as 14 smaller landing craft. Thailand's Naval Aviation Division has its own fleet, including UAVs and helicopters. It also has a Marine Corps with 23,000 personnel and dozens of armed combat vehicles. (Compiled by Devjyot Ghoshal, edited by Michael Perry).
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Britain revamps its power grid to eliminate 'zombie projects'
The National Energy System Operator in Britain will give priority to grid connections for the most viable projects of power generation and energy storage as part of a massive overhaul. Britain's goal is to decarbonise the power sector largely by 2030. This will require connecting many more renewable energy plants, such as solar and wind, to the electrical grid. The government also stated that it wanted the country to be a "superpower" in artificial intelligence, which would require grid connections for data centres with high power consumption. The new system replaces the first-come-first-served model that created a line of over 700 gigawatts worth of projects waiting to be connected - more than four times what Britain needs in order to reach its clean energy targets for 2030. Kayte O'Neill said that the changes would reduce grid bottlenecks, by prioritising projects ready to build, and giving certainty as to when and where these projects can be connected. This will unlock billions of dollars in clean energy investments. The new process will allow projects that have planning permissions, land rights, and are aligned with the national energy goals to be connected faster. Approximately 3,000 grid connections were evaluated. 132 GW was identified as being crucial to meeting the Clean Power 2030 government target. A further 151 GW is needed by 2035. NESO announced that 99 GW more projects, including data centres, which require power from the grid will be given priority for connection. It said that more than 300 GW will not be advanced because they have failed to demonstrate readiness, or alignment with the national objectives. Ed Miliband, Britain's energy secretary, said that the government inherited a "broken system" whereby zombie projects were allowed by the government to block grid connections for viable project. NESO stated that the reforms are the result of months of collaboration among NESO and network operators, government officials, industry, Ofgem, and regulators. (Reporting by Susanna Twidale, Editing by Kirby Donovan).
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Bloomberg News reports that Brookfield and GIC are close to a binding offer for National Storage.
Bloomberg News, citing sources familiar with the situation, reported Sunday that Brookfield Asset Management (BAM) and Singapore's GIC were close to making a binding bid for National Storage REIT. The deal could value the Sydney listed company at around 4 billion Australian Dollars ($2.65 billion). The report stated that the parties were finalizing the details of the deal, which could be announced as early as Monday. Brookfield and GIC had also made good progress in their due diligence process on National Storage. The report states that the price for the binding offer will likely be the same in November as the conditional offer. Could not verify immediately the report. National Storage REIT announced last month that it received an A$4.02 Billion buyout offer by a consortium consisting of Brookfield, Singapore's GIC and other companies. This would have been the largest real estate privatisation in Australia. ($1 = 1,5067 Australian Dollars) (Reporting and editing by Andrea Ricci in Bengaluru)
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Canada's Air Transat suspends flights after pilots union strikes notice
Transat AT, a Canada-listed tour operator, announced on Sunday that Air Transat, Canada, will suspend its flights from December 8 to 9 after receiving a 72-hour notice of strike by ALPA, the union which represents the 700 pilots at the company. Air Transat's pilots may begin their strike as early at 3:00 am. Air Line Pilots Association said that the strike would begin at 3:00 AM ET on December 10. The Canadian leisure carrier deemed the strike announcement "premature", given the progress made at the bargaining tables. It said that it had offered compromises including a salary increase of 59% over five years, and improved working conditions. Bradley Small, Chair of the Air Transat Master Executive Council, said: "There's still time to avoid striking, but unless there are significant improvements at the bargaining tables, we may strike to get a modern contract." Transat AT reported that Air Transat was working with the union in order to avoid a strike, but it will stop all operations on December 9th to ensure passengers and crews are not left stranded. Transat AT Inc. offers Air Transat as a brand. Reporting by Abu Sultan in Bengaluru and Shivani Tana; editing by Andrea Ricci
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American Airlines asks for notices regarding the bankruptcy of Spirit Airlines
According to a court document, American Airlines has filed an appearance notice in the bankruptcy proceedings of Spirit Aviation and requested that all notices and documents be served going forward. Spirit filed for bankruptcy a second-time in August as it struggled to deal with its dwindling reserves of cash and increasing losses. The airline stated that it was looking at all possible options in its restructuring, including a merger and sale of the business. American Airlines filed a request in the Southern District Court of New York on December 5, requesting to receive all notices, including operating reports and plans of reorganization, as well as liquidation statements. Spirit and American didn't immediately respond to a comment request. Spirit Airlines has previously stated that they are considering all options to ensure the future of their airline. Spirit actively explores all possible opportunities. The merger or sale of Spirit could maximize value. Spirit stated in a SEC filing in October that the company was actively involved in discussions with several interested counterparties. The U.S. Supreme Court earlier this year rejected a request from American Airlines to overturn a judicial ruling that found the company's scrapped U.S. Northeast Partnership with JetBlue Airways in violation of federal antitrust laws. JetBlue and United Airlines have partnered in a partnership since then. You can also Both airlines' websites allow travelers to book flights. Spirit Airlines urged the U.S. Transportation Department in June to reject the collaboration of United and JetBlue. Spirit Airlines said it was anti-competitive and that other large airlines would pursue similar deals. Reporting by Doyinsola Oladipo in New York, editing by Andrea Ricci
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American Airlines asks for notices regarding the bankruptcy of Spirit Airlines
According to a court document, American Airlines has filed an appearance notice in the bankruptcy proceedings of Spirit Aviation and requested that all notices and documents be served going forward. Spirit filed for bankruptcy a second-time in August as it struggled to deal with its dwindling reserves of cash and increasing losses. The airline stated that it was looking at all possible options, including a merger and sale of the business. American Airlines filed a request in the Southern District Court of New York on December 5, requesting to receive all notices, including operating reports and plans of reorganization, as well as liquidation statements. Spirit and American didn't immediately respond to a comment request. Spirit Airlines has previously stated that they are considering all options to ensure the future of their airline. Spirit actively explores all possible opportunities. The merger or sale of Spirit could maximize value. Spirit stated in a SEC filing in October that it was actively in talks with several interested counterparties. (Reporting from Doyinsola Oladipo in New York, editing by Andrea Ricci.)
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Southwest Airlines fined $11 million by the US for holiday meltdown in 2022
The Trump Administration announced Saturday that it would waive a $11 million fine on Southwest Airlines, as part of the $140 million settlement for the airline's meltdown during a busy travel season in December 2022. Southwest Airlines in December 2023 will pay $35 million in cash and $90 million worth of travel vouchers for passengers who are delayed by at least 3 hours in reaching their final destination due to an airline issue or cancellation. This is because the airline handled the meltdown which stranded over 2 million passengers. In a written order, the U.S. Transportation Department cited Southwest Airlines' decision to invest more than $1 billion into its operations since the 2022 crash to improve performance and reliability as the reason for its decision to waive the remaining $11 millions of the fine due by January 31. Reporting by David Shepardson, Editing by Chizu nomiyama
Brazil's farmers defend forest record at COP30
Brazil exports 40% of its agricultural products
Environmental groups document links to deforestation
Native protests against infrastructure for exports
By Andre Cabette Fabio
The group of cattle, soybean and grain farmers, who host news conferences in front of a global audience rails against the trade barriers erected by the European Union as a way to protect the Amazonian rainforest and other sensitive lands.
EU and US are taking measures to limit Brazilian agricultural exports citing deforestation concerns.
Next month, a new anti-deforestation law will come into effect. This will prevent companies from around the world selling commodities such as coffee and beef that are associated with deforestation to the EU.
Environmental groups in Brazil such as Greenpeace have documented the links between biofuels, beef, soybeans and cotton, and deforestation of the Amazon rainforest, and other biodiverse eco-systems like the Atlantic rainforest, and Cerrado tropical woodland.
Agribusiness says that deforestation occurs because of illegal logging, land grabbing and gold mining. It also claims that trade barriers hurt farmers and ranchers who use sustainable farming practices.
Roberto Rodrigues said, Brazil's Special Envoy for Agriculture at COP30: "We must show the world that criminals are the ones who deforest the forest... not farmers."
Rodrigues said, "We have a serious problem with our European and North American competitors. We are better, and they know it", at a panel discussion for COP30.
He said, "They confuse what is illegal in Brazil with ours, they blame agriculture for illegal deforestation and land invasions, but that's not true."
DRIVER DEFORESTATION
Brazil's agribusiness is politically influential, since agriculture represents about 8.4% GDP and 40% exports according to the 2025 World Bank report.
According to government statistics, soybeans will account for 13%, or Brazil's exports in 2024. Only oil will be higher.
Deforestation can be caused by the clearing of land to make way for vast soybean fields and cattle pastures.
The World Resources Institute reports that despite recent data showing a decline in Brazil's deforestation rate, Brazil was responsible for 42 percent of the record-breaking global loss of tropical forests in 2024.
Last month, government data showed that deforestation rates in Brazil's Amazon rainforest dropped 11% from the previous year to July. This is the lowest level in 11 years.
According to the Emissions Database of Global Atmospheric Research, the European Union, Brazil is the sixth biggest carbon emitter in the world.
Brazilian JBS SA was awarded a Sustainable Business Award at COP30, alongside 47 initiatives from the private sector, for a program that helps ranchers to comply with environmental regulations.
Gilberto Tomazoni is the CEO of JBS. He said, "There's an agribusiness narrative against Brazil."
He said: "We must show transparency... so that consumers can make their decisions."
Brazil's National Confederation of Agriculture has urged the team to attend COP30 to fight the "stigmatization of farmers in the country" and to push for the access to carbon credits and climate funds to pay for forest restoration project.
Confederation of German Industries (Gi) said that it wanted to make sure discussions on a just and sustainable transition "does not legitimize unilateral climate-justified trade measures," saying these measures have "disproportionate impacts" on developing nations.
Environmental groups protested against agribusiness companies outside the AgriZone area, which was dedicated to the COP30.
Barbara Loureiro is an environmental coordinator at the Landless Workers' Movement. The group advocates land reform.
She said, "This sustainable agribusiness presented at the COP doesn't deter... large estate agribusiness which burns and destroys forests."
TRADE BARRIERS
After a one-year delay, the EU regulation that was agreed in 2022 for blocking deforestation products from the European Market will take effect on January 1st. This is good news for large farmers.
Some EU states are hesitant to implement the measure, saying it's too expensive and unworkable logistically.
Brazil's Ministry of Foreign Relations also said that the rules impose a "significant burden and disproportionate burden" on countries like Brazil, where tropical agriculture is managed responsibly and sustainably.
Deforestation concerns have been used to delay the signing of a deal between Mercosur and the European Union, a South American political bloc and trade block.
The European Commission hopes to sign the deal this year. It would lower tariffs for the EU with Argentina, Brazil Paraguay, and Uruguay. This would create one of the largest zones of free trade in the world.
A caucus of agribusinesses in Congress opposes the Climate Plan, which is yet to be launched by the Brazilian government and establishes a strategy for reducing emissions. They claim that it could pose a trade barrier.
The caucus - a powerful political force that controls majorities both in the Senate and Congress - has criticised what it considers an excessively high share of emissions attributable to the sector, by linking agribusiness with illegal deforestation.
Environmentalists claim that Brazil's farmers have been a powerful lobby in the deforestation of forests. This is because agribusiness caucuses on both local and national level have passed amnesty legislation to legalize land which has been illegally deforested and invaded.
Recently, they passed rules to make it easier for farmers who wish to deforest their land to obtain formal approval.
Rodrigues defended himself by saying: "If the agribusiness industry has benefited in the past, then that is something we must look forward to."
Agribusiness is also pushing infrastructure projects that will ship beef and grain through the Amazon rainforest. This was a major target of protests led by forest and indigenous communities who live near the proposed routes of roads, railways, and waterways.
(source: Reuters)