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Dassault Aviation CEO uncertain if FCAS Fighter will proceed
The head of Dassault Aviation raised doubts on Tuesday over ?the ?future of a troubled Franco-German-Spanish fighter programme, saying it partly depended on whether Germany was willing to rethink its reliance on U.S. arms imports. "Will it ever happen?" "I don't know," Eric Trappier, CEO of Trappier International, told a corporate security conference. He reiterated calls for a clearer leadership in the core fighter component, which also includes drones, and combat connectivity, of the Future Combat Air System. Trappier said: "Nobody's ever talked to me about two planes." When asked about reports that France, Germany and Airbus could build two jets to bridge the differences between Dassault & Airbus regarding plans for a single system, Trappier replied: The FCAS 100 billion-euro ($116-billion) programme is mired in disputes over technology and workshare between the two major industrial partners. After the failure of defence ministers to resolve their differences last week over industrial control, it is expected that German Chancellor Friedrich Merz will discuss with French President Emmanuel Macron this week about the fate and future of FCAS (SCAF in French) Trappier, in a speech to officials from the corporate world and public safety, recalled Dassault’s pivotal role in France’s independent defense. He welcomed European Union's efforts to strengthen defence, but added that "Europe isn't a nation" and the task of protecting the continent was primarily with its nations. "Do France? Germany? And Spain? Share a complete willingness to defend Europe?" I believe they do. He told the CDSE conference that "the way this is done is more complex". Trappier has criticized Germany for selecting U.S. F35 fighters to fill a NATO Nuclear-Sharing?role. He said that one question mark about FCAS is: "Is Germany prepared to set aside its transatlantic relationships in defence matters?" Dassault said that it wants to reestablish a clear control over the core fighter component of FCAS while leaving Airbus to manage other pillars, such as combat drones. Trappier said at the conference: "I ask for leadership based on the capabilities of the Dassault Company." "I'm not against cooperation but it must be effective co-operation", said Trappier. Airbus accused Dassault on Monday of trying to undermine existing agreements on FCAS governance, as the parties attempt to reach an agreement on the next phase of the program, a flyable demonstration aircraft. Reporting by Florence Loeve, Tim Hepher and Mark Potter. Editing by Mark Potter.
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ROI-Global coal exports post rare decline in 2025 on China cuts: Maguire
The first decline in global thermal coal shipments - used in power plants - has been recorded since 2020, due to lower coal-fired electricity generation in major Asian markets. Data from commodities intelligence company Kpler show that total?seaborne?exports of so-called Steam coal will be around 945 million metric tonnes in 2025. This represents a 5% drop or about?50million ton from 2024. The main reason for the decline was a 7% decrease in imports from countries in Asia, the top coal-consuming region. This suggests that the global export volume of coal may have reached its peak and continue to shrink. ASIAN DOMINANCE The concentration of coal shipments is evident in the fact that 89% all thermal coal imported for this year came from Asia. The total imports of thermal coal fell by 7%, or 60 million tons from the 2024 figures. China was this year's top coal importer, with a total of 305 million tonnes. India (157 millions tons), Japan (100,00 tons), South Korea (76,000 tons), and Vietnam (45 tons) were all close behind. Only two of the five largest coal-importing markets, South Korea and Vietnam, saw an increase in their imports for the year. This shows the depressed tone of the coal market, even in the region that consumes the most coal. While other countries such as?Malaysia and Thailand, and Turkey, have also seen an increase in their coal imports year over year, China and India remain the two main drivers of global coal import trends. CHINA AND INDIA IN FOCUS China and India, the two largest thermal coal importers, accounted for 48 percent of all thermal imports. Both countries registered a contraction in imports this year as a result of heightened domestic coal production combined with increased power supply from other sources. China's thermal imports dropped by 12%, or almost 43 million tons in 2025 compared to the previous year. This equates to 305 millions tons. India's thermal imports fell by 3%, or 4.3 million tonnes to 157 million. China and India both have government policies that encourage domestic coal production. This generates jobs, but they also face the danger of an overproduction of low grade coal that increases pollution levels when it is burned. China's ongoing war against overcapacity will likely lead to a shrinkage of domestic coal production in the coming years, which in turn could limit further declines in coal imports in the near-to-medium term. China's rapid rollouts of clean energy - including record deployments of solar and nuclear power - are expected to continue to shrink coal's share in the domestic power mix. Data from the energy think tank Ember show that coal's share in China's electricity production has dropped to a new record low of just 55.3% in 2025. This is down from 59% in 2024. In India, the combination of record coal production in India and declining coal consumption in electricity generation has resulted in a rare issuance for coal export permits. These export permits are likely to increase competition between exporters in early 2026. They could also become more common if mine production increases continue to be maintained while the domestic demand for coal to generate electricity continues to decline. In 2025, coal has produced just over 70% of India's electric power. This compares to a share of more than 77% in the last two years. The rapid roll-out of solar and wind farms in India, along with the highest hydro dam generation in more than six year's time has led to coal's loss as India's largest generator. Further coal cuts could be made in India, both for the coal share of the mix of generation and the total coal consumption. This could lead to India exporting even more coal in the near future, which would reduce the profits of other coal exporters like Indonesia and Australia. Over time, any sustained decline in coal consumption in China, India, and other former major coal consumers, will likely result in a steady shrinkage of coal export volumes, and a wider contraction of the coal industry. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Marsa Maroc, the Moroccan port operator, will buy 45% of Boluda Maritime Terminals
Marsa Maroc, Morocco's largest port operator, announced a deal on Tuesday to purchase a 45% stake in Spain's Boluda Maritime Terminals, a subsidiary of Boluda Corporacion Maritima, for 80 million euro ($94.01million). The company stated that the deal was?approved by Marsa Maroc’s board and is subject to regulatory approval. BMT will handle more than one million?containers by 2024, through its nine terminals located in mainland Spain and Canary Islands. It added that the acquisition would allow Marsa Maroc International Logistics, the group's expansion on the international front, to strengthen their?positioning along the Spain-Morocco Corridor. Marsa Maroc operates 25 terminals in 11 ports. Earlier this year, the company announced plans to expand in West and East Africa. This includes a pair of terminals in Cotonou Port in Benin as well as an oil and gas terminal in Damerjoud Port in Djibouti.
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Philippines confirms the visit of alleged Bondi Gunmen amid terror concerns
The Philippines Bureau of Immigration announced on Tuesday that the two alleged gunmen who carried out the mass shooting at Sydney's Bondi Beach travelled from Sydney to Manila on?November 1, aboard Philippine Airlines Flight PR212 and then onwards to Davao. According to a spokesperson from the bureau, Sajid Akram (50), an Indian national who lives in Australia, travelled with an Indian passport while his son Naveed, 24, an Australian, travelled with an Australian passport. Both passengers arrived on the same flight. On November 28, they flew back to Sydney via Manila on the same flight number PR212. This was weeks before the attack that killed 15 people. The investigation is looking at the attack as a terrorist act targeting Australia's Jewish community. It wasn't immediately clear what they did in the Philippines, or if they went elsewhere after landing in Davao. Mindanao is a city located in a region that has been a haven for terrorist groups including ISIS linked factions. In 2017, militants inspired by Islamic State seized part of the southern city of Marawi, and held it for five months through ground offensives and air attacks. Marawi's siege, the biggest battle in the country?since World War Two?, forced 350,000 people to leave their homes and more than 1,100 were killed, most of them militants. The Armed Forces are validating these reports. However, their spokesperson stated in a press release that the military closely coordinates with the relevant agencies regarding matters involving foreign nationals' movements and possible terrorist connections.
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ROI-Global coal exports post rare decline in 2025 on China cuts: Maguire
The first decline in global thermal coal shipments - used in power plants - has been recorded since 2020, due to lower coal-fired electricity generation in major Asian markets. Data from commodities intelligence firm Kpler indicates that total seaborne exports for so-called steam coal are expected to be 945 million tons in 2025. This represents a drop of 5%, or about 50 million tons, from 2024. The main driver of the decline was a 7% decrease in imports from countries in Asia, the region that consumes the most coal. This suggests that the global export volume of coal may have reached its peak and continue to contract. ASIAN DOMINANCE The concentration of coal shipments is evident in the fact that 89% all thermal coal imported for this year came from Asia. The total imports of thermal coal fell by 7%, or 60 million tons from the 2024 figures. China ranked as the largest coal importer in this year's figures, with a total of 305 million metric tons. India was second (157 million metric tons), followed by Japan (100 metric tons), South Korea 76 million tonne and Vietnam 45 tonne. Only two of the five biggest coal import markets, South Korea and Vietnam, posted an increase in annual imports. This highlights the depressed tone of coal demand, even in the region that consumes the most coal. While other countries such as Malaysia, Thailand, and Turkey have also seen an increase in their coal imports over the past year, China and India remain the two main drivers of global coal import trends. CHINA AND INDIA IN FOCUS China and India, the two largest thermal coal importers, accounted for 48% of total thermal coal imports. Both countries registered a contraction in imports this year as a result of combining increased domestic coal production with greater power supply from other sources. China's thermal imports dropped by 12%, or almost 43 million tons in 2025 from the previous year. This is a drop of 305 million tonnes. India's thermal imports fell by 3%, or 4.3 million tonnes to 157 million. China and India both have policies that support coal production at home, creating jobs. However, both countries also face the danger of an overproduction of low grade coal, which increases pollution when burned. China's ongoing war against overcapacity will likely lead to a shrinkage of domestic coal production in the coming years, which in turn could limit further declines in coal imports in the near-to-medium term. China's rapid rollouts of clean energy - including record deployments of solar and nuclear power - are expected to continue to shrink coal's share in the domestic power mix. Data from the energy think tank Ember show that coal's share in China's electricity production has dropped to a new record low of just 55.3% in 2025. This is down from 59% in 2014, and nearly 60% in 2013. In India, the combination of record coal production in India and declining coal consumption in electricity generation has resulted in a rare issuance for coal export permits. These export permits are likely to increase competition between exporters in early 2026. They could also become more frequent if the mine output increases continue to be sustained, while the domestic coal use for electricity production continues to decline. In 2025, coal will generate just under 70% (compared to 77% in the last two years) of India's total electricity. The rapid rollout of solar and wind farms in India, along with the highest hydro dam generation for more than six years, has led to coal's loss as India's largest generator. Further coal cuts could be made in India, both for the coal share and the total amount of coal used. This could lead to India exporting even more coal in the near future, which would reduce the profits of other 'coal exporters' such as Indonesia and Australia. Over time, any sustained decline in coal consumption in China, India, and other former major coal consumers, will likely result in a steady shrinkage of coal export volumes, and a wider contraction of the coal industry. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Philippines confirms the visit of alleged Bondi Gunmen amid terror concerns
The Philippines Bureau of Immigration announced on Tuesday that two alleged gunmen responsible for the?massive shooting at Sydney Bondi Beach travelled on Philippine Airlines Flight PR212?from Sydney, to Manila, and then to Davao on November 1. According to a spokesperson from the bureau, Sajid Akram (50), an Indian citizen and Australian resident, travelled with an Indian passport while his son Naveed,?24 an Australian, used an Australian one. Both passengers arrived on the same flight. On November 28, they flew back from Sydney via Manila on the same flight, PR212. This was just weeks before the attack that left 15 dead. The shooting?on Sunday is Australia's deadliest mass shooting in?nearly?30 years. It is being investigated as a terrorist act targeting the Jewish Community. It wasn't immediately clear what they did in the Philippines, or if they went elsewhere after landing in Davao. Mindanao is a city located in a region that has been a haven for?terrorists groups, including ISIS linked factions. In 2017, militants inspired by Islamic State seized part of the southern city of Marawi, and held it for five months through ground offensives and air strikes. Marawi's siege, the biggest battle in the country since World War Two, has displaced 350,000 residents. More than 1,100 people, mostly militants, have been killed. The Armed Forces of the Philippines are?validating the reported information, but its spokesperson stated in a press release that the military closely coordinates with relevant agencies regarding matters involving the movement of foreign nationals or potential terrorist links.
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Wall Street Journal, December 16,
These are the most popular stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. Ford Motor announced Monday that it expects to incur charges of about $19.5 billion, mostly related to its electric vehicle business. Donald Trump, the U.S. president, sued 'the BBC for defamation on Monday. His lawsuit claims that the BBC defamed Trump and violated Florida law which prohibits deceptive or unfair trade practices. He wants $5?billion for each count of the lawsuit. PayPal has filed to create a bank that offers business loans and savings account. Frontier Group Holdings has named James Dempsey as interim chief executive officer, effective immediately. He succeeds Barry Biffle, who was with the company for eleven years and had served as CEO since 2016. Stellantis has added more than 1,000 new employees to its Windsor, Ontario assembly plant in just two months. Luminar Technologies filed for bankruptcy following the loss of a contract to supply Volvo Cars.
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FAA establishes new office for air safety after deadly mid-air collision
Federal Aviation Administration announced on Monday that it will open a "new aviation safety" office, as part of its strategic plan. The goal is to improve hiring and training while identifying potential hazards quickly. This comes after criticisms for not addressing near-misses. FAA Administrator Bryan Bedford released "Flight Plan 2026", in response to a mid-air collision that occurred between an American Airlines Regional Jet and an Army Helicopter near Reagan Washington National Airport on January 28th, which killed 67 people. He said that the plan will create an FAA Safety Management System and implement a FAA-wide safety risk management process. Bedford stated that to achieve this goal, the Safety Integration Office will be established, safety risk heat maps developed, increased transparency and accountability improved at all levels within the organization. FAA is also moving into the building where?the U.S. Transportation Department has its headquarters. In a memo to its employees, Bedford stated that "Aviation changes rapidly and the nation expects FAA to lead the way with confidence, competence and clarity." The FAA is planning to create a pilot program for applicants of aircraft certification to be able to take part in digitized certification process. Sean Duffy, Transportation Secretary Sean Duffy, harshly criticised the FAA's failure to act in the face of dozens near-miss incidents prior to the fatal crash that occurred on January 29, days after U.S. president Donald Trump took office. Duffy stated that "we had 84 near-misses within the D.C. area in the previous three years, but no one took any action." Someone was sleeping at the wheel. Someone should have noticed that." Both parties of Congress have asked why the FAA has not acted for so many years in response to close calls with helicopters near Reagan Airport. Jennifer Homendy, chair of the National Transportation Safety Board, said that in August FAA ignored warnings about serious safety concerns. Homendy stated that the FAA had transferred out people instead of accepting responsibility for the fact that everyone in the FAA tower was saying there was an issue. "Fix it. "Do better." Bedford, who was appointed in July, oversees a $12.5-billion rehabilitation of U.S. Air Traffic Control?and Duffy is asking for another $19-billion to finish the job. Bedford, who was a former airline chief executive, had been critical of the FAA’s leadership and culture before he took office. Early May, the FAA barred Army helicopters from flying around the Pentagon following a close call in May that caused two civilian planes abort landings. The FAA implemented new restrictions in April to prevent helicopters from colliding with passenger planes at the busy Harry Reid International Airport, Las Vegas, and has also expanded buffer zones around airports in the Washington, D.C. area. Bedford will testify in front of two congressional committees beginning Tuesday. David Shepardson, Washington correspondent; Chris Reese, Jamie Freed and Chris Reese are the editors.
Eneos reports 78% jump in quarterly earnings, however sticks to FY projection
Japan's leading oil refiner Eneos Holdings reported on Friday a 78% increase in AprilJune net revenue, driving by greater margins in its products and electrical energy sectors and significant inventory appraisal gains.
Net revenue for the three months, the business's very first quarter, rose to 81.6 billion yen ($ 555 million) from 45.8 billion yen a year previously, but the business adhered to its full-year forecast of 210 billion yen.
Operating revenue excluding stock gains is typically on track to meet our initial forecast of 400 billion, Soichiro Tanaka, senior vice president, told a press conference.
The refinery run rate, omitting the effect from scheduled upkeep, improved to 81% from 78% a year earlier, as unexpected blackouts decreased due to sped up inspections and improved operational management.
Nevertheless, the run rate for the July-September quarter will miss the company's initial target due to unexpected shutdowns in July and August, Tanaka said.
We had actually anticipated Q2's run rate to beat Q1, but the increase might be smaller sized than we had anticipated, he said, without supplying a concrete estimate.
Aging equipment was also an aspect behind the blackouts, he stated.
Japanese refiners have actually been reducing oil processing capacity in the previous years to reflect falling regional demand due to an aging population and a shift towards more fuel-efficient cars.
But with a tourism boom, Japan faces a jet fuel shortage affecting commercial flights, which has actually impeded the growth of international flight capability and the intro of new paths.
To address the concern, Eneos will think about increasing imports and domestic production of jet fuel as described by the public-private council in July, Tanaka said.
Asked if debt consolidation of refineries will continue, Tanaka said: Domestic fuels need will continue falling in the long term, however refinery can be used as carbon-neutral facilities and jet fuel demand will likely increase ... so we'll make a. extensive choice.
(source: Reuters)