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Ireland passes law lifting Dublin Airport passenger limit
Ireland's Transport Minister lifted a passenger cap at Dublin Airport on Thursday after President Catherine Connolly signed a new law. The government is under pressure to lift its 32 million passenger limit per year, which has been suspended in anticipation of a ruling from the European Court. Last year, the airport exceeded its limit by four million passengers. Irish Transport Minister Darragh O'Brien welcomed Connolly's signing of the law and expressed his hope that an order would be issued to "amend or repeal the cap" as soon as possible after an environmental assessment. He said, "I intend to immediately begin the relevant provisions of the Act." This will now enable the sustainable development at Dublin Airport. O'Brien said in May that his hope was for the bill to become law by July. Planners in 2007 set a limit of 32 million passengers for Ireland's major airport, in part to prevent local traffic congestion. Local residents are in favor of limiting the number of passengers at the airport. The airport carries 80% or more of the country's air traffic. Environmental groups warned that its removal could weaken the oversight of an industry with high emissions. Irish airline chiefs have warned that the measure would harm the economy of the country. U.S. Airlines have also criticized the 'cap. Their representative body, as well as 'Irish carriers', warned that the U.S. Government could retaliate by restricting transatlantic flights out of Dublin if it is not scrapped quickly. Conor Humphries wrote the article, Sam Tabahriti edited it.
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Sources say that Saudi Arabian-backed developer seeks World Cup Stadium investors
Three sources have confirmed that Saudi Arabia's ROSHN group is looking for investors to help finance its Aramco Stadium which will host the FIFA World Cup in 2034. The state-backed developer wants to 'free up capital' so it can deliver projects as part of the Kingdom's economic transformation plan. Saudi Arabia is increasingly relying on outside capital for funding projects in tourism, sports, and logistics to reduce the economy's dependence on oil and gas revenues. Two sources who declined to be identified because the matter was not public said that JPMorgan had hired ROSHN to manage the equity raising process. According to a third source, PIF and ROSHN are testing the private investor interest in the stadium. Aramco, JPMorgan and ROSHN declined to comment. PIF and ROSHN did not respond to requests for comments. STADIUM TRANSACTION WOULD MIRROR STRUCTURE OF PIPELINE DEALS The Aramco stadium is expected to be completed by the end this year, and will host its first match in January. Saudi Aramco is the state-owned oil company that operates the stadium on a 25 year concession. ROSHN, as the owner and developer, owns the project. Sources said that the transaction pursued by ROSHN will likely follow a structure of lease-and-leaseback. Investors such as EIG Global Energy Partners, part of BlackRock, and Global Infrastructure Partners have shown interest in similar infrastructure fundraising deals. According to the model, ROSHN will establish a vehicle that would?control the leasehold it would co-own, with the 'investors who would provide the funds upfront. ROSHN would be able to use its capital elsewhere, as the transaction would bring in new funding from investors. Investors would in turn receive a stream of long-term income in the form a portion of Aramco's lease payments. SAUDI ARABIA STRUGGLING WITH FLAGSHIP WORKS PIF, as part of its Vision 2030 economic revamp plan, has heavily invested in sports including Formula E, tennis, boxing, eSports, and soccer. The 2034 World Cup will be a major event in the Kingdom's economic transformation plan. Riyadh has been working on building or renovating 15 stadiums in five cities, including the Aramco Stadium, which seats 47,000 people, located in Al Khobar. It also plans to create 132 training facilities. Saudi Arabian Sports Minister Prince Abdulaziz Bin Turki AlFaisal stated this week that the 2034 competition would be the first time a nation will host the expanded 48 team format. But overspending and ?lower-than-anticipated global oil prices that have throttled state revenues have left Saudi Arabia struggling to deliver some of its flagship projects. Trojena for example was originally scheduled to host the Asian Winter Games in 2029 but faced delays. Riyadh hopes private investors will?step up and help cover some of the shortfall. A deal for the Aramco Stadium wouldn't be the first transaction that Saudi-owned sporting assets. Kingdom Holding Company and the PIF signed a deal in April to acquire a 70% stake each in Saudi Pro League soccer club Al Hilal. As part of a larger privatisation campaign, an American investor acquired the smaller club Al Kholood in 2013. In May, it was reported that the PIF had been in discussions with investors about a possible minority stake in Newcastle United. This would be part of the fundraising plans to build the stadium.
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US agency denies Tesla's petition to avoid headlight recall fix
The National Highway Traffic Safety Administration denied a petition filed by Tesla on?Thursday to avoid a recall for almost 20,000 vehicles that have headlights which may exceed the maximum lighting levels. Tesla said the issue did not have any impact on motor vehicle safety, and therefore there was no need for a recall. NHTSA disagreed with Tesla that there was no "increased risk" of glare to surrounding traffic or drivers of the vehicle. NHTSA?said that the recall covered about 19,900 Tesla Model 3 and Tesla Model Y models from 2017-2023. Tesla did not respond immediately to a request for comment. In?2022, the agency rejected a similar request from GM in order to avoid fixing 820,000 cars due to a lighting problem. Tesla said it was unaware of any reports or complaints of accidents or injuries relating to this issue, and that it believes it to be insignificant to'safety. NHTSA stated that weather conditions like rain, fog, or snow "could cause the light from non-compliant lamps to 'cause veiling glare' for the driver and other road users driving" near these?Tesla cars. According to a survey conducted by the American Automobile Association, 6 out of 10 drivers believe that glare after dark is a major problem. Nearly three quarters also think it has gotten worse over the last decade. In 2022, the NHTSA rejected a petition to mandate a recall of vehicles with LED?headlights. This included some Tesla Model 3 and Ford Bronco motor vehicles. The petition argued that they were too bright. Reporting by David Shepardson, Editing by Chizu nomiyama
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Houthi leader threats Saudi oil installations if Riyadh escalates the conflict in Yemen
Abdul Malik al-Houthi, Yemen's Houthi Leader, said on Thursday that all Saudi oil and other important facilities would become a 'target' for the group's drones and missiles if Riyadh escalated their involvement in the conflict. The warning was issued after the Houthis launched missiles against Saudi Arabia accusing the country of bombing a Saudi airport that they controlled on Monday. This marked a rupture in the four-year truce. Previously, the?Iran aligned Houthis targeted Saudi energy infrastructure. In 2019, the Houthis claimed responsibility for an attack on two Saudi oil refineries that temporarily shut down?more than 50% of the kingdom's crude output. In 2022 they will strike again Saudi energy facilities. The Saudi-led coalition claimed that an Aramco distribution station for petroleum products in Jeddah had been hit and set on fire. In a televised address, he stated that the real equation was Sanaa Airport for Riyadh Airport, airports for airports, ports and ports, and blockade against blockade. Yemen has been engulfed in civil war since more than a decade, when the Houthis took over the capital Sanaa. This prompted a Saudi-led intervention in 2015 to support the internationally recognized?government. Since then, the conflict has evolved into one the worst humanitarian crises in the world. The country is now divided between a Saudi-backed administration in?Aden and the Houthi government in Sanaa.
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After the Iran crisis, airlines gradually resume Middle East service.
After the U.S.-Israeli strike on Iran, more airlines are returning flights to the Middle East. However, major carriers are still 'cautious' and many routes will remain suspended until the fall. KEY POINTS The airlines have mostly resumed service through some parts of the Gulf but flights to Israel and Lebanon, as well as other destinations, remain disrupted. Dubai and Tel Aviv remain among the most affected destinations. Several European and Asian airlines have extended suspensions until October or even later. The Lufthansa Group remains one of the most cautious operators. Several airlines within the group have maintained?suspensions? to destinations such as Dubai, Riyadh and Beirut through late October. British Airways, Air France KLM, Air Canada and Wizz Air all extended their suspensions of Middle East routes. Several airlines that had previously stopped services are slowly returning. Cathay Pacific will resume Dubai and Riyadh flight service from September. Some SunExpress routes are already back in operation. AIRLINES WITH EXTENDED SUSPENsions Lufthansa Group suspends multiple Middle East destinations through October 24 on Lufthansa and SWISS as well as Austrian Airlines, Brussels Airlines ITA Airways, Brussels Airlines, SWISS IAG/British Airways: Dubai Tel Aviv Bahrain Amman services suspended until October 25. Reduced frequencies planned when services resume. Singapore Airlines suspends flights to Dubai until October 24. Wizz Air suspends services to Dubai, Abu Dhabi and Amman from Europe until mid-September. Air Canada suspends services to Tel Aviv and Dubai until October 24. AIRLINES MOVE TOWARD RESUMPTION Cathay Pacific: Plans to resume Dubai and Riyadh flights from September 1. Turkish Airlines/SunExpress: Restoring routes to Dubai?and Beirut gradually. Air France to resume Beirut flights on Aug. 2
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Fuel shortages in Russia and restrictions on sales
Fuel shortages are affecting Russians in all 11 time zones. Ukrainian attacks on oil refineries have disrupted supply and caused long queues, high gasoline prices, and even rationing?in some regions. Fuel access has improved in Moscow and other cities, mainly due to measures such as increasing imports and clearing low-quality fuels for use. However, the situation in Russian-annexed Crimea is still tense. Fuel shortages began in June, when some regions began to restrict gasoline and diesel use. Here is the situation in some Russian regions: CENTRAL RUSSIA According to 'witnesses, local media, and service aggregators who monitor the availability of fuel?at gas stations, queues have decreased and restrictions on sale have been lifted in the Moscow, Bryansk Kaluga, and Smolensk areas, but the situation remains complex in Tambov Voronezh, and Yaroslavl. Surgutneftegaz, Tatneft and the authorities in Tver announced on the 20th of June that temporary restrictions were placed for individuals at the Surgutneftegaz stations. This was due to the increased demand. Igor Artamonov, the Governor of Lipetsk, said that there were shortages at several filling stations in the region, which includes the cities of Lipetsk, Yelets and Lipetsk. Kommersant reported that Tambov Governor Evgeniy Pryshov had imposed restrictions to prevent panic buying by restricting sales in cans and other containers. Regional media reported that authorities in the Vladimir region stated on June 21 "temporary logistics difficulties" caused long queues at gas stations. Sales were limited to 30-60 litres of fuel per vehicle. Alexander Avdeev, the Governor of Vladimir region, urged residents to avoid stockpiling and limit their travel. On June 19, a regional ministry reported that increased demand in the Kaluga region had led to long queues at gas stations. It was reported that there were reserves in place, and volumes are being replenished to ensure Ai-95 and Ai-92 for two weeks, and diesel and Ai-92 for three weeks. The Kommersant newspaper reported that private gas stations in parts of Tula were running out of certain grades of fuel, but the major networks did not have any problems with supply, according to Governor Dmitry Milyayev. Restrictions remain in effect for the majority of central region. SOUTH AND WESTERN RUSSIA The Southern part of Russia still faces the worst fuel shortages due to drone attacks on local refineries, and the additional demand for fuel from the Crimea peninsula. According to local media, Anna Kasyanenko, the regional agriculture minister, said that some Rostov filling stations ran out of gasoline because major refineries had cut production. Local media reported that in Makhachkala some stations limit?gasoline to no more than 20-litres per car, while diesel to 50-litres. CRIMEA AND SEVASTOPOL Residents in the Russian-annexed Crimea have reported that prices at gas stations recently increased by up to five times. Last week, the Crimea governor stated that fuel shortages would likely continue. Sevastopol - one of the biggest cities in Russian controlled Crimea - has restricted its power supply after Ukrainian attacks last week. Crimea has suspended summer camps for children and tourist activities until September due to fuel shortages, said Governor Sergei Aksyonov last month. The Crimean authorities, which are now based in Russia, declared a state-of-emergency on the peninsula to address economic problems on 26 June. From June 21, fuel stations in Crimea stopped all sales of fuel to individuals and companies. Sevastopol has also limited fuel sales, public transportation, cafes, street lights and the operation of its fuel stations. VOLGA REGION Fuel sales in the Volga River region are still severely restricted due to drone attacks that have intensified over the past few weeks. Local media reported that Tatneft stations in Udmurtia have stopped selling Ai-95. Rustam Minikhanov, the Tatarstan leader, held a meeting in June 2013 after lines formed at certain stations. Authorities have announced temporary limits to avoid panic buying. Roman Busargin, the Governor of Saratov Region, announced that a temporary limit of 30 litres was set per vehicle for refueling from June 23 through June 30. The cap is extended until further notice. On June 15, Governor Vyacheslav Federishchev announced that sales restrictions had been implemented at the filling stations of a regional network in the Samara Region. SIBERIA After a drone strike on the largest Russian refinery located in Omsk, the situation remains tight at the filling stations. Marina Kozharina said, on June 16, that the region faced a complex situation regarding fuel for agricultural purposes. Irkutsk, according to Governor Igor Kobzev, had switched over to a manual system of distribution by June 22. The new system prioritizes emergency services, transportation, municipal utilities, and agriculture. On June 23, Novosibirsk governor Andrey Travnikov announced that there would be restrictions at filling stations. Omsk governor Vitaly Khotsenko stated on June 22 that similar measures will be implemented to prevent panic and speculation. FAR EAST Thanks to its geographic distance from drone-affected areas, the Far East region is better able to deal with the fuel shortage than other Russian regions. However, a ban remains in place in many areas on filling portable fuel containers. Amur.life reported that authorities in the region announced restrictions on petrol sales at gas stations to avoid what they called "artificial panic" among the local population. Dmitry Demeshin, the Khabarovsk governor, said that on June 16, gasoline sales were restricted in Sovetskaya gavan and Vanino due to a shortage of supplies. (Reporting and editing by Sharon Singleton).
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S&P and Nasdaq to open lower as chip weakness weighs
S&P 500 and Nasdaq are set to open lower?on Friday as chip stocks weakened anew, while investors analyzed fresh economic data in search of?clues?"on the state of the economy. Semiconductor stocks continued to fall from the previous session when investors shifted their attention from megacap technology names to banks and banks following strong results from major lenders. TSMC shares listed in the U.S. fell 3.9% during premarket trading despite the fact that the advanced AI chipmaker had reported a 77% increase in its second-quarter profits, which exceeded market expectations. Memory-chip manufacturers were among the largest decliners. Western Digital, Seagate Technology, and Micron Technology?were down 7.2%, 5,7%, and 5% respectively. The rally on Wall Street was fueled by optimism about AI spending?by hyperscalers. The benchmark S&P 500 is up more than 10% in this year, and it's still close to the record high of?June. This leaves the rally open to disappointment. Investors analyzed June retail sales figures. They showed a slight increase as the lower gas prices affected?receipts from service stations. Consumers on the hunt for bargains continued to drive spending. Bill Adams, Fifth Third Commercial Bank's chief U.S. economic officer, said that "slower retail sales growth" is actually a positive development, because it reflects lower gas prices and not weaker consumer demand. The report is positive for the second-quarter real GDP. Separately the weekly unemployment claims dropped to 208,000 in the week ending July 11 - below the economists' expectation of 217,000, and down from the 216,000 the previous week. At 8:46 a.m. The Dow E-minis rose 18 points or 0.03% and the S&P E-minis fell 28.5 points or 0.37%. Nasdaq E-minis fell 307.5 points, or 1.03%. UnitedHealth's latest quarterly report was a positive one. The healthcare giant raised its profit forecast for 2026, which sent shares up 6.8%, and kept Dow futures on the rise. Peers Humana & Centene both gained 4.4% and 3.5% respectively. Wednesday, the main U.S. indexes gained for a second consecutive session as this week's benign inflation report for June reduced worries about tighter Federal Reserve policies. According to CME's FedWatch, the markets are pricing in an 88% chance that the Fed will remain on hold during this month's meeting. The second quarter earnings season started strong, which has also boosted sentiment. However, geopolitical concerns remained prominent as tensions between the U.S. and Iran simmered. Iran has told the Houthi movement in Yemen to be ready to shut down the Red Sea Oil Route if?U.S. Sources told? that the US has struck Iran's power infrastructure. This poses a new threat to global energy supply. United Airlines?fell by 3.4% due to a new surge in oil prices that weighed on the company's third-quarter and year-end profit forecasts. GE Aerospace's stock dropped 2.9% despite its increased profit forecast for 2026. Netflix will report its earnings after the close of the stock market. Reporting by Ragini Mathur and Avinash in Bengaluru, Editing by Maju Sam and Devika S.
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Boeing's engine supply is sufficient for months, GE Aerospace says in response to GEnx delays concerns
GE Aerospace CEO Larry Culp pushed against Boeing's concerns that GEnx delivery delays could slow down the 787 production ramp up, citing a sharp rise in shipments. Culp said that GE delivered widebody engines at a 30% increase from a year ago in the second quarter, while GEnx shipments increased by "significantly" more. He claimed that GE has several'months'' worth of GEnx engine on site at Boeing’s factory in Charleston South Carolina. He said, "We don't believe we are pacing the deliveries in any way." Boeing CEO Kelly Ortberg said that the 'planemaker’s goal to increase 787 -production from eight aircraft a week to ten aircraft a week depends in part on GE resolving GEnx deliveries delays and easing restrictions involving premium seat certifications. Culp stated that GE will need to increase deliveries in order to keep up with Boeing's higher production rate. He said, "GE is supporting and will support the 787 ramp." "We are highly motivated. We are well aligned. It's a non-issue. "We will be with them at every stage." 80% of the 787s are powered by GE engines. This program is critical for the engine manufacturer as the demand for widebody planes increases internationally. Culp responded that GE will work closely with Boeing as the 787 production increases to'meet the requirements of Boeing. He said that the supply chain for civil engines had also turned a corner. However, deliveries will need to increase further in the second and next year. (Reporting and editing by Chizu Nomiyama, Emelia Sithole Matarise and Rajesh Kumar Singh)
US agencies have confiscated more than 700 drones in the vicinity of World Cup sites
The FBI reported on Thursday that U.S. agencies have seized more than 700 drones in the vicinity of FIFA World Cup venues and fan areas since the tournament began on June 11. On match days, drones are not allowed to operate within a three nautical mile radius and up to nine hundred meters (914 feet) above the ground around stadiums, unless they have been specifically authorized by the air traffic controllers. FBI reported that drones were seized in restricted airspaces across the 11 U.S. cities hosting the World Cup and several arrests had been made. The Federal Aviation Administration has imposed temporary flight restrictions around World Cup sites to prevent drones. Drones are prohibited at fan gatherings within a 1-nautical mile radius and up to 1,000 feet above the ground. The FBI warned that operators who enter restricted airspace without permission could face fines up to $100,000 as well as criminal charges and the confiscation of their drone. FBI teams are stationed at World Cup stadiums in order to detect and disable unauthorised drones. Bryan Bedford, FAA Administrator, said in an interview that the seizures show the government can "actually?identify users and people who are in the airspace where they are not supposed to be." The FAA is proposing to allow operators of critical infrastructures to petition the FAA to restrict drone operations over their sites for safety and security purposes. Bedford said: "We are going to look at all the sensitive sites, such as power plants, utility plants and infrastructure." FAA says it receives more than 100 drone reports near airports every month. In the past, there have been a number of drone?incidents over?major U.S. sports events. In 2025, after being charged with violating defence airspace for flying a drone above a National Football League post-season game in Baltimore, a man pleaded to guilty. (Reporting and editing by David Shepardson)
(source: Reuters)