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China regulator approves ANA Holdings takeover of Nippon Cargo, but with conditions
China's market regulator announced on Tuesday that it had approved ANA Holdings Inc.'s acquisition Nippon Cargo Airlines with conditions. These included a number of binding commitments in order to maintain fair competition in China-Japan's air cargo market. After multiple delays, the Chinese regulator has approved ANA's purchase of NCA, Japan's biggest airline. The acquisition will bolster its international cargo operations. The State Administration for Market Regulation issued a statement in which it stated that ANA, NCA, and the merged entity were required to continue to adhere by existing agreements for ground handling of cargo at Tokyo Narita Airport and Osaka Kansai Airport. The regulator stated that the decision was taken to safeguard regional industrial and supply chain stability and ensure smooth bilateral trade, and to ensure the smooth running of bilateral trade. ANA, Japan's biggest shipping line, will acquire NCA, the current parent Nippon Yusen KK on August 1 after receiving the green light from Chinese authorities. ANA announced its plan to purchase NCA by 2023, but it has delayed the execution of the acquisition eight times. The most recent delay was last Wednesday. The Japan Fair Trade Commission (JFTC), the country's market regulator, approved the takeover in January. Reporting by Ethan Wang in Beijing, Kantaro Komiya in Tokyo and Joe Bavier in London; editing by David Evans and Joe Bavier
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France closes schools due to heatwave that grips Europe and sea temperatures near Spain record high
As a severe heatwave continues to grip Europe and trigger health alerts throughout the region, more than 1,000 schools in France were closed on Tuesday. The top floor of the Eiffel tower was also closed to tourists. A heat dome above Europe trapped hot air, and the Mediterranean Sea was 6 degrees Celsius warmter than normal for this time of year. The Balearic Sea in Spain reached a record high of 30 C (86 F). According to the EU's Copernicus Climate Change Service (CCS), Europe is the fastest-warming continent in the world, with temperatures rising twice as fast as the global average. Extreme heatwaves are therefore more likely to occur earlier in the calendar year and continue into the later months. Meteo France, a weather forecaster, said that the temperature in France was expected to reach its peak on Tuesday. It will be between 40 and 41 C in certain areas, while 36-39 C is more common in others. 16 departments will be at the highest alert level from noon onwards, while 68 are on the second-highest. The Education Ministry announced that 1,350 schools would be closed or partially shut down due to heat. This is a significant increase from the 200 schools that were closed on Monday. Visitors are advised to drink lots of water as the top floor of Eiffel Tower is closed on Tuesday and Thursday. As farmers in France, Europe's largest grain producer, begin harvesting the crop for this year, they are also at risk of fires. Some farmers worked through the night in order to avoid harvesting at the peak of the afternoon heat. In central France's Indre, where a number of fires have been reported since late June due to the hot weather, field work was banned between 2 pm and 6 pm. HEALTH ALERT Some experts have said that the intense heat can harm biodiversity. In the past, we've seen mass mortality of invertebrate and seagrass species as well as disease outbreaks on mussel farms. Scientist Kathryn Smith of the Marine Biological Association of the United Kingdom said that it's likely we'll experience similar effects from this event. Residents and tourists in Europe are looking for ways to stay cool. Swiss Re estimates that extreme heat kills 480,000 people per year around the globe. This is more than the combined death toll of floods, earthquakes, and hurricanes. Residents of a Grimbergen retirement home, Belgium, passed a ball between themselves in a paddling-pool. Marie-Jeanne Olbrechts said, "To me, it's an amazing activity." DGG, the association for geriatrics in Germany, said that most regions were not prepared adequately for a heatwave. Clemens Bäcker, the author of the study done for the DGG, said that if they were implemented, it could save tens and thousands of lives in the future. Scientists believe that greenhouse gas emissions caused by burning fossil fuels is a major cause of climate changes. Deforestation, industrial practices and other factors also contribute to this. The planet experienced its hottest year ever in 2018. (Additional reporting from Kate Abnett and Gus Trompiz; editing by Bernadettebaum)
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Rupees rise alongside Asian counterparts as US policy concerns trouble dollar
The Indian rupee gained on Tuesday along with most Asian counterparts, as concerns over U.S. president Donald Trump's fiscal policy and uncertainty surrounding trade deals kept dollar at a three-year low compared to major peers. The rupee closed the day at 85.52 U.S. dollars, an increase of 0.3%. The rupee gained on the day but was unable hold gains above 85.50. Traders cited bids by a large, state-owned bank and some local private banks. A trader from a private bank stated that the currency will likely remain rangebound until it breaks either 85.45-85.5 on the upside, or 86.50-86.50 on its downside. The dollar index fell 0.3%, to 96.37. This is its lowest level since Feb 2022. Dollar has been hurt by concerns about U.S. fiscal policy, uncertainty regarding trade agreements ahead of an upcoming deadline and worries over the future independence the Federal Reserve. Dollar index has lost 11% of its value this year. The deterioration of the U.S.'s safe-haven status amid increasing asset valuations foretells a redistribution in global portfolio flows to other regions. Asia can benefit and drive this redistribution," ANZ stated in a note on Tuesday. The note said that while countries with large external investment surpluses such as Taiwan and South Korea will lead diversification away from U.S. assets. Potential inflows will also be extended more broadly to economies such as India and Indonesia. Investors will also bet on the Fed cutting rates faster this year. The focus then shifts to the U.S. Economic Data due later that day. The remarks of Fed chair Jerome Powell are also expected to be a key indicator for the future direction of policy rates. (Reporting and editing by Vijay Kishore; Jaspreet K. Kalra)
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Indian lawmakers review aviation safety after Air India crash
On July 9, a panel of Indian legislators will review safety in India's civil aviation industry. They have invited several government and industry officials to answer questions, with topics including Air India's recent crash. According to a draft memo for the meeting, which was seen by, India's upper house has asked airport operators and air traffic controllers, as well as airlines such Air India and IndiGo, to participate in a thorough review of passenger safety. The meeting comes in the wake of the Air India disaster on June 12, which claimed 260 lives, including 241 aboard a Boeing 787-8 jet that crashed just a minute after takeoff from Ahmedabad, India. Investigators continue to probe what caused the worst aviation accident of the decade. R K Chaudhary told a member of the panel that the memo didn't mention the crash but they planned to talk about it internally and at the meeting. He said that if we don't ask questions, the airlines won't be vigilant. Indian officials have confirmed that data from the front-facing recorder of the plane crashed was accessed by an Indian team, led by the Aircraft Accident Investigation Bureau in conjunction with the U.S. National Transportation Safety Board. Air India has received warnings recently for non-compliance. Last month, India's aviation regulator warned the airline about "repeated serious violations" in relation to the scheduling of pilot duties. Air India was also warned for violating safety regulations after three Airbus planes were flown despite not having received the necessary checks on their escape slides. Aditya KALA (Reporting). Mark Potter (Editing)
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USAID has cancelled the rape survivors kits that were to be sent to Congo due to conflict.
The United Nations and aid organizations said that the U.S. administration of President Donald Trump cancelled a contract for the supply of emergency kits to rape victims in Congo, as violence exploded in the east in this year. This left thousands without access life-saving medications, they added. The emergency kits contain medication to prevent HIV, other sexually transmitted diseases, and unwanted pregnancies. It was not previously reported that the decision to cancel a contract for 100,000 post-rape kit had been made. The U.S. Agency for International Development's contract was meant to supply Congo's war-ravaged east provinces for an entire year. However, thousands of health centers were left without supplies when the fighting escalated. State Department, the agency that manages USAID did not reply to requests for comments by email or text message. For this article, I spoke with officials from the United Nations as well as four other aid organizations that treat rape victims in eastern Congo. A team visited South Kivu Province to speak to survivors and healthcare workers. One health worker from Congo who did not want to be identified for fear of reprisals said: "When you look at the eyes of a victim of rape, you get the feeling that her gaze has died." "You will never forget telling that person that you do not have medicine or know how to assist them and asking them leave. In January, M23 rebels, backed by Rwanda, swept through the east of the nation, capturing two major cities in an escalation to a decades-long war. Since then, the UN says that 67,000 rapes have been reported. Many more are likely to go unreported. UN experts and aid organizations have documented sexual violence in the Congo as a weapon used for war. PIPELINE DISRUPTED After taking office, Trump ordered a 90 day pause in foreign aid and stopped grants from USAID. The contract between USAID and a kit supplier was about to be signed when Elon Musk announced that he would close the agency by January. At the time, Elon was leading a department aimed at improving the efficiency of the U.S. Government. USAID, according to the UN, and other aid organizations, immediately canceled the contract that would have resupplied tens of thousands of health centers by March. The supplier has been agreed to remain anonymous to protect sensitive operations in Congo. Noemi Damonte, deputy representative of the United Nations Population Fund in Kinshasa, said that when USAID terminated the large funding it had provided to this American NGO all its activities were immediately halted. The pipeline was disrupted in a very unfortunate moment. The kits are packaged in a box that contains HIV medication, which is meant to prevent infection within 72-hours. They also contain antibiotics, tests for sexually transmitted disease and emergency contraception. USAID paid for the supplies to be delivered to over 2,000 facilities. Amadou Boucoum, country director for CARE International, said that the kit was important because it would reassure a woman who had been traumatized by rape that she wouldn't contract AIDS, she wouldn't become pregnant, or she'd get venereal disease. UNFPA provided a document that showed that only seven of the 34 health zones of North Kivu had a minimal amount of post-rape kit left. Less than 1 in 4 survivors needs are being met. Only 13% (or survivors) who request assistance receive HIV prevention medication within 72 hours. The U.S. State Department says it will continue to fund life-saving programs around the world, but the contract for the supply of post-rape kit to survivors is still cancelled. Trump said the U.S. pays for foreign aid disproportionately and wants other countries shoulder more of the load. According to data from the government, the U.S. spent $65 billion on foreign aid last year. Nearly half of that was through USAID. UNFPA, along with other aid organizations, is trying to raise $35 million in order to replace the funding that the United States has lost from Western donors like the Gates Foundation. UNFPA's document stated that the cancellation of abortions could lead to the death of survivors, the spread HIV, unwanted pregnancy, and unsafe, high-risk abortions.
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Dubai wants to reduce traffic congestion with the 2026 launch of Joby air taxi
Air taxis could soon be available for Dubai commuters to avoid traffic. Joby Aviation has conducted its first test flight in the emirate of its fully electric air taxi this week. This is a significant milestone in the efforts by the city to integrate airborne transportation into existing mobility networks, as early as next. Joby is hoping that its air-taxis can ease the pressure on Dubai's existing ground transportation system and provide travelers with a faster alternative, as Dubai continues to experience increasing congestion. Anthony Khoury said, "We want people to commute differently." The company estimates that a journey from Dubai’s main airport DXB, to Palm Jumeirah will take approximately twelve minutes on the Joby Aerial Taxi, as opposed 45 minutes in a car. Khoury, Joby's CEO, says that the company has a long-term goal of making its aerial taxis affordable for everyone to use. However, early pricing is likely to target high-income travelers. Early days of any new technology may be more expensive. According to Joby Aviation, the demonstration flight took place on Monday in an isolated desert area southeast of Dubai’s downtown. It was intended to mimic a typical aerial-taxi journey. The experimental aircraft performed a vertical takeoff in front of senior government officials and representatives from the transport industry. It then flew several miles and returned to land vertically. The Joby Aerial taxi, developed by a Californian company, is the first electric vertical takeoff and landing (eVTOL). It can travel up to 160 km (100 miles), at speeds of 320km/h (200mph). Joby's air taxi is designed as an eco-friendly vehicle that emits zero emissions. It also has a low noise level, making it suitable for commercial use. Khoury stated that the aircraft would be flying near residential areas in the city. "Hopefully, people won't notice it at all," he said. Joby's eVTOL has been heralded as the future for urban air, but the industry faces many challenges. These include securing regulatory approvals and developing enough vertiports. Morgan Stanley lowered Joby's target stock price from $10 to $7, citing near-term execution risk and wider aerospace industry concerns including tariffs, supply-chain problems, and other issues. Joby's stock is currently trading for $10.55. Joby signed an exclusive contract in early 2024 with Dubai's Roads and Transit Authority, which granted the company the exclusive right to operate aerial taxis within the city for six years. Dubai International Airport (DXB), Palm Jumeirah and Dubai Downtown are the four initial vertiports that will be opened by 2026. Joby's president of Original Equipment Manufacturing, Didier Papadopoulos said, "In aviation, it's rare to see transformations such as this." "Each once in awhile, you get this propelling move into the future. You're seeing something really exciting and I am excited that you will be riding on this point into the future. (Reporting and editing by Mahal Dahan and Louise Heavens in Dubai, with reporting by Abdelhadi Ramahi in Dubai.
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Analysts estimate that Ukraine's gas reserves are more than 8 billion cubic meters.
ExPro, an analysis firm, said that gas reserves in Ukrainian storage sites exceeded 8 billion cubic meters (bcm), but remained at the lowest levels in the past 11 years. After Russian missiles damaged the production facilities to the east of Ukraine, Ukraine was forced to increase gas imports and withdraw more gas from storage this winter and in the spring. ExPro reported that the storage facilities were nearly 26% full and volumes were 19.6% or 1.9 bcm lower than the same date a year earlier. According to the consultancy, gas injection volumes were higher than in previous years and between 1 June and 28 1,25 bcm was pumped into gas storage facilities. Since the start of this year's injection season, on April 17, 2.6 billion cubic meters of gas have been pumped into gas storage facilities. Last month, the Ukrainian energy minister stated that Ukraine would need to import at least 4,6 bcm (billion cubic meters) of gas in order to heat its homes during winter 2025/26. (Reporting and editing by Joe Bavier; Pavel Polityuk)
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Sydney is pounded by a 'Bomb Cyclone' with high winds and heavy rains
The "bomb-cyclone" that hit Australia's largest state, with strong winds and heavy rains, forced airlines to cancel flights within the country and prompted evacuation warnings for coastal communities. Authorities warned on Tuesday that the weather in parts of New South Wales would also worsen over the next 24 hour, with winds of up to 125 km/h (78mph) and up to 250mm (9.8 inch) of rainfall. Jihad Dib, Minister of Emergency Services, said that the size and scope of the system is "enormous". He said at a press conference held on Tuesday that the situation would worsen in the next 24 to 48 hours. Residents in areas at risk of coastal erosion are being warned to evacuate their homes. Minor flood warnings have also been issued for a number of communities along the Mid North Coast. The Sydney Airport website shows that Qantas Airways has cancelled 11 domestic flights from Sydney, and Virgin Australia 12 flights. No international flights were affected. Virgin Australia sent an email to say that the weather conditions in Sydney and Newcastle had affected some services. The Australian weather bureau described a "bomb-cyclone" or "bombogenesis" as a system of low pressure that forms quickly and causes the pressure to drop dramatically within a short time. The bureau stated that the weather system will shift to the Tasman Sea and then ease off by Thursday. Helen Reid, Senior Meteorologist, said that "damaging winds and large waves will continue to affect much of the coastline through Wednesday." She also warned that warnings would continue. The conditions will continue to improve into Friday, with just a few isolated light showers remaining on the east coast of the United States by the end the week. Reporting by Renju José and Christine Chen in Sydney, Editing by Jamie Freed & Louise Heavens
Olympics-High expenses, safety concerns harm Paris Games reservations
Spiralling travel and accommodation costs, French political tumult and security concerns are dissuading numerous sports fans and visitors from attending the Paris Olympic Games this summer season.
Cities that win a coveted possibility to host the world's biggest sporting event typically do so on expectations that they will attract crowds of visitors to showcase themselves and boost their economy.
However Paris has a handful of factors breaking it that have held down bookings.
Flight bookings to the French capital - an indicator of traveler activity - are anticipated to increase by 10% year-on-year from June 6 onwards, according to flight ticketing information firm ForwardKeys.
That is a plain contrast to the 115% increase in tourist arrivals for the 2016 Rio Games. Even the Tokyo Games, held during the COVID-19 pandemic, saw a 20% increase, ForwardKeys stated.
Data from Paris-based consultancy MKG reveals hotel appointments have dropped given that last year for the weeks ahead of the Olympics, along with a 25% revenue decline for much of June.
The data alongside interviews with travel agents, sports fans and ticket sellers reveal high costs and security issues are making even the most ardent Olympic fans hesitant to participate in.
Today, it's the lowest reservations we've seen in 25 years for almost any sports event, Alan Bachand, a sports travel agent based in the United States, informed .
The findings highlight the challenges significant cities deal with hosting global sporting events - they are already crowded and expensive, frightening more price-conscious customers.
They also reveal that unrelenting travel demand, with tourists going to splash cash on experiences rather than products in the wake of the COVID-19 pandemic, is slowing as they become more sensitive to increased rates.
London experienced something similar in 2012. It just saw a 3% increase in arrivals, as numerous tourists steered clear of a city that would usually be inundated with travelers over the summertime.
Still, it will be a blow for the French capital - one study just recently estimated the Games would produce as much as $12 billion in financial benefits to the Paris region. In 2015, the Australian state of Victoria withdrew from staging the Commonwealth Games due to the fact that of ballooning expenses.
NIGHT BUS
Emma Mathieson, 29, has tickets in August for the females's bronze football match in Lyon and is wishing to get tickets to the gold match the following day in Paris.
However rather than staying over night afterwards, she will capture a night bus back to London. Accommodation of over 300 euros ($323) for the night was above her budget.
I would have enjoyed to have actually seen more women's matches or group stages if it was more economical, she said.
Average hotel costs in between July 26 and Aug. 11 have actually surged by 70% to 342 euros a night from in 2015, according to the Paris traveler workplace.
Even wealthier visitors have been postponed. Bachand stated four-star hotels were charging up to 1,000 euros a night throughout the competition, with many clients hesitating as a result.
Even so, homesharing site Airbnb says it has actually seen record Paris reservations. Since March, nights scheduled in the Paris area throughout the video games were 400% higher than the exact same time a year earlier.
ORGANIZATION FALLOUT
Nevertheless, Air France-KLM stated on Monday it expected weaker-than-expected summer season sales as travellers avoid the Olympics.
Global Travel Moments, a luxury travel agency, stated clients had likewise mentioned security concerns in addition to pricing as a factor to postpone their journeys.
France is on its highest level of security alert as the Games approach, with the country additionally undergoing breeze legal elections.
Islamist terrorism is the primary security concern, the French capital's chief of authorities Laurent Nunez said last month.
People are providing it a wide berth offered the present climate, said Duncan Greenfield-Turk, Global Travel Moments' primary travel designer, pointing out challenges like the election called by President Emmanuel Macron.
One customer recently postponed a trip to Paris till next year while another chose to visit before the games, he said.
Luxury sellers are hoping to boost sales in other locations beyond Paris as travelers avoid the French capital.
BENEFITS
Some travel bureau hope there will be a last-minute rush for tickets and accommodation and possible discount rates in the last weeks before the games start.
Visitors may be showing up by train or car which will not show up in flight data, however might drive last-minute home rental bookings, stated Jamie Lane, short-term rental analytics firm AirDNA chief economist.
Eurostar stated train ticket sales volumes to Paris until July 1 for the Olympics and Paralympics travel period were up 7% year-on-year.
It's going to be okay. In France, as normal, they're constantly not delighted and always criticising, stated Samuel Riezzo, who runs a firm selling tickets for sports events.
(source: Reuters)