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Officials say that the attack on Berlin's power grid was caused by "extreme leftists".
Officials said that a fire in southwest Berlin, which has left tens?thousands without electricity in the German capital, was likely the result of an?extremist attack on the far-left. The grid company Stromnetz Berlin reported on Saturday that up to 45,000 homes could be without electricity until January 8 due to the suspected arson. It said that efforts were still being made to restore power, and around 35,000 homes and 1,900 commercial entities are still affected. Local media reported a letter purporting to be?from an activist group of the far-left called the Volcano Group? that claimed responsibility for the incident and said its actions were directed towards the fossil fuel based energy industries. Iris Sprenger, Berlin's Minister of Interior Affairs, wrote on x that "the letter claiming to be responsible has been classified by the security agencies as authentic." "I strongly condemn this inhumane attack against Berliners and tourists to Berlin." The investigation continues." A?suspected?arson attack on two?pylons in Berlin left 50,000 homes without electricity in September. Local media compared this to Volcano Group’s high-profile attack in 2024 on Tesla's gigafactory at Gruenheide. (Reporting and editing by Christina Fincher.)
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Sources say that Venezuela's PDVSA has asked some joint ventures for a reduction in oil production.
Three sources familiar with the decision told reporters that Venezuela's PDVSA, the state-owned oil company, is asking joint ventures to reduce crude production due to an "export paralysis". This will add pressure to an interim government struggling to hold on to power. These include?shutting down oilfields and well clusters, as the stocks onshore increase. The company also runs out of diluents needed to mix Venezuela's heavy crude before shipping. Caracas is currently in a political crisis, under an interim government. This comes after U.S. troops rescued President Nicolas Maduro on Saturday. Oil exports from the OPEC nation, which are its'main source of income, have come to a halt following a U.S. sanctions-imposed blockade of tankers and the seizure of 2 oil cargoes in December. Chevron cargoes heading to the U.S. were an exception. They continued to move?because Washington has granted the company a license for its operations. Shipping data on Sunday showed that since Thursday, all of these have stopped. President Donald Trump announced on Saturday that an "oil boycott" was in force on Venezuela as part of the announcement of Maduro’s detention, and the U.S. overseeing the transition. Sources said that PDVSA asked joint ventures such as Petrolera Sinovensa of China National Petroleum Corporation (CNPC), Petropiar from Chevron, and Petroboscan, Petromonagas and Petroboscan to reduce production. Petromangas is now solely operated by PDVSA. Previously, it was jointly run by PDVSA, Roszarubezhneft and the Chinese National Petroleum Corporation (CNPC). PDVSA and CNPC didn't immediately respond to requests for comment. Chevron stated on Sunday that it continues to operate in "full compliance with all relevant laws, regulations and standards," without giving any details. One source said that workers at Sinovensa were preparing to disconnect up to ten well clusters on Sunday due to a PDVSA demand after "an excess accumulation of extra-heavy crude and diluents". The person said that the wells can be quickly reconnected if necessary in the future. Chevron, on the other hand, hasn't cut back yet, as it still has plenty of room to store products, especially at Petropiar. Tankers are also still loading. Although its vessels haven't left the country in recent days, and storage capacity at Petroboscan is limited, it could still lead to cuts. Delcy Rodriguez (now Venezuela's interim President), Venezuela's former oil minister, stated last month that the country will continue to produce and export oil despite U.S. sanctions.
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Officials say that at least 25 people are dead and 14 others missing after a boating accident in Nigeria.
Officials said that at least 25 people were killed and 14 more are still missing after a boat capsized with dozens of passengers in Yobe State, north-eastern Nigeria. Accident?occurred? just before 8 pm local time on Saturday, 1900 GMT, when the large canoe that had left Adiyani in northwestern Jigawa State overturned while en route from Garbi to Yobe State. According to Mohammed Goje of the Yobe State Emergency Management Agency, the vessel carried 52 passengers. "So far, 13 passengers were rescued alive while 25 bodies were recovered. Goje stated that search and rescue operations were ongoing for the 14 missing people. He added that local volunteers, security agencies and emergency teams had been present at the scene. The police in the state of?Jigawa confirmed the incident, and stated that the canoe capsized because it was leaking. It was a day of trading and the victims were heading home. "If the driver survives, then he will face criminal charges for negligence," Lawan Adam, a spokesperson for the state police, said. He noted that safety laws prohibiting night trips and overloading had been ignored. Babagana Shettima is a resident of Adiyani and said that the casualties came from his village as well as Yobe. "When the boat's arrival was late, relatives raised alarm. Later, it was discovered that the canoe?capsized half way. Divers recovered a few bodies," he said to?. In Nigeria, boating accidents can be deadly. Many vessels operate without safety precautions. In September, 60 people were killed when a boat that was overloaded sank in central Nigeria after colliding with a stump of a tree.
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Radio frequency failures cause flight cancellations in Greece, leaving thousands stranded
Flights in Greece were grounded Sunday after a 'collapse of radio frequency crippled the air traffic communication. This left thousands of travellers stranded and brought airport operations to an end. The cause of the disruption was not clear. It began early on Sunday morning and rapidly escalated. The civil aviation authority of Greece said that some overflights in Greek and regional airspace are still being serviced. However, airport operations have been restricted for safety purposes. Dozens were affected. Panagiotis Psarros of the Association of Greek Air Traffic Controllers told ERT that "for some reason, all frequencies were suddenly gone.. we couldn't communicate with aircraft in flight." He stated that the problem appeared to be the 'collapse of the central radio frequency systems? at the Athens-Macedonia area control system, the largest aircontrol facility in the nation based in Athens. It monitors Athens Flight Information Region - a vast area of airspace controlled by Greek authorities. Flight tracking showed that the Greek airspace is largely empty. ERT reported that airport 'arrivals and departs' were suspended at 9 a.m. (0700 GMT) local time, reporting from a departures hall at Athens Eleftherios Venizelos Airport?crowded with travelers. "We've not been told the cause of the problem... the equipment we have is almost ancient." Psarros stated that they had raised the issue many times before. An official from the Transport Ministry told us that some aircraft headed north or east were allowed to depart. An official reported that more than 75 flights had been delayed. A spokesperson for the Israel Airports Authority said that Greek airspace was closed until 4:00 pm local time (1400 GMT). The spokesperson warned travellers to expect delays on arrivals and departures. (Reporting and editing by Hugh Lawson, Ros Russell and Hugh Lawson; Additional reporting in Israel by Steven Scheer and Renee Maltezou;
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President says Serbia's NIS Refinery will be operational on Jan. 17 or 18.
Aleksandar Vucic, President of Serbia, said that the Russian-owned NIS refinery in Serbia, sanctioned by the United States, would be operational as early as 'January 17 or 18, after it received a temporary license. The Office of Foreign Assets Control of the U.S. Treasury Department granted NIS on Wednesday a temporary operating license until January 23. This will allow it to resume its production after a 36 day?break. The US has given NIS - which owns Serbia’s only oil refinery - until 24 March to negotiate the sale of its Russian shareholders' stake. Vucic, speaking to reporters in Belgrade, said: "I expect the first 85,000 tonnes of crude oil to be delivered by January 15th... and that 'the refinery will start operating on either January 17th or 18th... and that 'we can begin producing oil derivatives as early as January 25th and 26th." Gazprom, the Russian oil company, owns 11.3% of NIS while its sanctioned oil subsidiary Gazprom Neft (SIBN.MM), holds 44.9%. The Serbian Government holds 29.9% of the shares, while small shareholders and employees hold the rest. The Serbian government has said that it supports the ongoing talks between NIS and its?Russian owners, MOL. After granting several waivers since the start of last year, the US sanctioned NIS in October as part of wider measures against Russia's Energy Sector. The sanctions had halted the crude supply via Croatia's JANAF pipeline (JANF.ZA), shutting down the NIS refinery located in Pancevo, a northern town. This week, JANAF announced that it also received a license allowing it export crude oil to NIS. (Reporting and editing by Hugh Lawson, Christina Fincher and Aleksandar Vaovic)
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Overnight, Bergamo Airport in Italy halted flights leaving thousands stranded
Due to technical problems with the landing guidance system, and poor visibility at Bergamo Orio-al-Serio airport in Italy, flights were halted on Saturday evening. This left thousands of passengers stranded over night. SACBO, which operates the airport, stated in a press release that the technical issue was resolved around midnight. However, a warning posted on the website of the 'airport' warned "flights could be delayed or canceled". Local media reported that the incident led to 26 flights being cancelled, 6 being diverted to other airports, and 7 being rescheduled for Sunday. Images show people sleeping on the ground and luggage check-in belts. The Bergamo edition of the Corriere della sera?daily?online said that first flights had been halted around 1700 GMT?Saturday. The airport's website showed real-time information on flights, including a list of many Ryanair flights that were delayed. However, several had departed as early as Sunday morning. A 0605 GMT Ryanair flight from Cagliari was delayed until 0850 GMT and a 0620 GMT Neos Flight to Sharm-el-Sheikh was delayed until 0855 GMT. (Reporting and editing by Elaine Hardcastle; Reporting by Valentina Z.)
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US airlines cancel flights following Caribbean airspace closure
Major U.S. Airlines canceled hundreds?of flights on Saturday following a military action in Venezuela which resulted in the capture of President Nicolas Maduro. American Airlines, Delta Airlines, Spirit Airlines, and JetBlue Airways all cancelled flights on Saturday in accordance with the Federal Aviation Administration's Caribbean airspace closures. In a letter to airmen, the FAA said that it had closed the airspace for U.S. carriers due to "risks to flight safety associated with ongoing military activity." According to the notice, this closure does not apply to non-U.S. carriers and operators. The FAA refused to comment on this further. Sean Duffy, the U.S. Transportation secretary, said on X in a blog post that "when appropriate" airspace restrictions will be lifted. Customers affected by the closure of the airspace were able to change their flight dates and avoid change fees. JetBlue Airways announced in an advisory that it would waive cancellation fees and fare difference for customers travelling from Saturday, January 3 to Sunday, January 4 2026. Donald Trump, the president of the United States, said that on Saturday night, the 'United States' attacked Venezuela, capturing its long-serving leader Nicolas Maduro, and promised to take control of Venezuela for now, including by using U.S. troops if needed. Air Canada has said that its operations in the Caribbean and South America continue "normally" as per Transport Canada's instructions. The airline stated that it would continue to closely monitor the situation and provide updates if necessary. FlightRadar24 flight records indicate that commercial air traffic in Venezuelan airspace stopped after the attack. Reporting by Dan Catchpole, Seattle; Preetika Parshuraman, Bengaluru. Editing by Chris Reese.
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Yemen's Southern Separatists Welcome Saudi Call for Dialogue amid Saudi-UAE Rrift
Separatists in Yemen's south welcomed on Saturday the call by Saudi Arabia for dialogue to end recent military escalation. This could be a sign of a calming down in the unusually public conflict between the Kingdom and the United Arab Emirates. The rapid-fire crisis in 'Yemen' has sparked a major feud among the two Gulf states and fractured a coalition of forces led by the internationally recognised?government?, which is fighting against the Iran-backed Houthis. In a press release, the Southern Transitional Council backed by UAE said that the Saudi initiative offered a "genuine chance for serious dialogue," which could protect "the aspirations" of the Southern people. The STC made its statement hours after Yemen's Saudi backed and internationally recognised government announced that it had retaken Mukalla, a key eastern port in Hadramout Province, from southern separatists, who had taken it last month. Since Friday, the government has made rapid gains that have reversed the gains of STC last month. This casts doubt on its plans to hold an independence referendum within two years. ESCALATION Saudi-backed forces had already taken over key locations in Hadramout. This large province has stretches of desert on the Saudi border. Residents reported that STC forces had blocked the roads leading from northern provinces to Aden. The group called on regional and international leaders intervene to stop what they described as "Saudi-backed militarism". In a press release, the statement said that northern Islamist groups - an apparent reference is to the Islah Party that is part of "the internationally recognized government" - have targeted civilians as well as vital infrastructure. The UAE, which is the primary supporter of STC, called for restraint, saying that it was "deeply worried" about the escalation of violence in Yemen. Yemen has been divided for more than a decade into warring regions. It is strategically located between Saudi Arabia, the world's largest oil exporter, and the Bab al-Mandeb Strait, which guards the important sea route that connects Europe to Asia. STC is part of a?internationally recognized government? that controls the southern and eastern parts of Yemen. Gulf states back the STC against the Houthis. Rashad al Ali, head of the Presidential Council, announced overnight that he had requested Saudi Arabia to host an international forum to solve the southern issue. He added that he hoped it would bring together all southern factions. Saudi Arabia granted his request and invited southern factions in Riyadh to meet. Aden Airport, the main transport hub in Yemen for areas outside Houthi control was closed Thursday due to a dispute about new restrictions announced by an internationally recognised government regarding flights with the UAE. Flights are expected to resume Sunday, according officials of Yemen's national carrier. Saudi Arabia and the STC have both accused each other of shutting down air traffic. In a statement released on Saturday, the STC said that southern Yemen is being blocked by land, air and sea. REGIONAL CRISIS The crisis began in early January when the STC seized large areas of land, including Hadramout. This gave the STC firm control of the entire territory of the former South Yemen state that merged into the north of Yemen in 1990. The leaders of the internationally recognized government, based in Aden, and including several ministers from?STC left for Saudi Arabia. Saudi Arabia viewed the southern movement as a threat. Years of divergence over critical issues reached a head and threatened to upset the regional order. Qatar, a fellow Gulf monarchy, has had long-standing regional policy disagreements with the UAE. It said that it welcomed efforts made by Yemen's internationally recognized government to resolve the southern issue. The extent to which the dispute between Saudi Arabia, the UAE and their disagreements on regional security bleeds over into other issues will become clearer this weekend when both countries attend an OPEC meeting scheduled to decide the group's policy for oil production. Saudi Arabia attacked a base near Hadramout early this week and demanded that all UAE forces remaining in Yemen leave. They called this a "red line" for their security and the UAE obliged. The STC's declaration of Friday, that it wanted a two-year period of transition leading to an independence referendum for a South Arabian state, was the movement’s most clear indication to date about its intent to secede. (Reporting and writing by Maha El-Dahan, Enas-Alashray, and Muhammad al-Gebaly, and editing by Toby Chopra and Susan Fenton; Rod Nickel, Diane Craft, and Toby Chopra)
Lilium's fall throws spotlight on air-taxi cash crunch
The race to end up being the first Western airtaxi company to carry guests lost a highprofile competitor this month when Germany's Lilium caught a cash crisis, tossing a fresh spotlight on a major obstacle for the recently established industry.
Almost half-way into the decade in which air-taxi makers have actually guaranteed investors the first industrial flights, the company's demise demonstrates how dwindling money balances threaten to postpone the sector's goal to revolutionise city travel.
Makers of electrical vertical take-off and landing airplane ( eVTOL), frequently known as air taxis, have actually raised roughly $13. billion since 2019, but the speed of yearly financial investments has. fallen after peaking in 2021, according to data from Alton. Air travel Consultancy shared with Reuters.
In spite of marquee financiers such as U.S. carrier Delta Air. Lines, and automakers Stellantis and Toyota. , analysts say billions more will be required to attain. accreditation, massive airplane production and. success.
We are beginning to see the weaker gamers fall by the. side ... there will be more to follow, stated Brian Foley, founder. of aviation consultancy Brian Foley Associates.
EVTOL makers have actually raised $2.3 billion so far in 2024,. compared with $1.5 billion in 2023, $3.4 billion in 2022 and. $ 4.3 billion a year previously, according to Alton data, while. profits have actually stayed evasive as business invest in establishing. operations and securing certification.
The business including Archer Air travel, Joby. Aviation, Embraer backed-Eve Holding, Lilium. and Vertical Aerospace tapped into the blank-check firm. merger trend at the beginning of the years, going public at. multi-billion dollar evaluations.
That was before they even had a product - a stage where most. companies prefer to stay private and depend on venture capital. funding.
Archer, Joby and UK-based Vertical had actually estimated they would. launch business service in 2024 after they went public,. according to business declarations and a 2021 Bernstein analyst. note.
That timeline is specific to be missed out on, as regulations are. still developing in the United States and Europe. Some eVTOL. business have stopped making public predictions about approvals. from the U.S. Federal Aviation Administration (FAA), which. controls the world's greatest market.
MIDDLE EAST OPPORTUNITIES
Regulative hold-ups, an uncertain financial environment and. simmering international tensions have weighed on the sector's. fundraising and development.
We don't have these companies getting to success. up until late into the years, said Raymond James expert Savanthi. Syth.
Some eVTOL makers are checking out other markets.
Archer is planning to introduce industrial flights in the. United Arab Emirates as early as the fourth quarter of next. year, and Joby prepares to launch business service in Dubai by. early 2026.
Experts state Middle East regulators may dedicate more manpower. to certification and create a safe environment for eVTOLs as. their rulers try to bring in future technologies.
It is also simpler to develop facilities in the Middle East. than in Europe and the United States, said Stephan Baur, partner. at consultancy Roland Berger.
Market professionals state Archer, Eve, which recently reached a. loan arrangement with Brazil's National Advancement Bank, and Joby. are among best-positioned to continue running enough time to. a minimum of reach accreditation.
The 3 companies, and Vertical, are anticipated to burn at. least $1 billion this year combined, which ought to continue for. the next 2 to 3 years, stated Syth, who anticipated the very first. eVTOL would be accredited to bring guests in late 2026 or. early 2027 in the United States.
Joby burned through $863.3 million in money in between 2021 and. 2023, according to LSEG information, the most amongst the 4 eVTOL. makers, as its service design calls for both manufacturing and. running the airplane. The business, which revealed extra. capital raising in the last couple of months, ended the third quarter. with $710 million in cash and short-term investments.
Archer, which has more than $500 million in money and money. equivalents, informed Reuters it had sufficient money for the. foreseeable future.
Eve stated it had raised $236 million in equity and debt given that. completion of the second quarter, which puts it in a really. comfortable monetary position for the next couple of years.
Vertical has a lower cash balance compared with the rest,. though its operating model burns less cash. On Monday, the. business stated creator Stephen Fitzpatrick had an alternative to invest. $ 25 million into the business in the next year.
The company likewise revealed an agreement under which debt. holder Mudrick Capital Management will participate in an equity. round and transform $130 million in debt to equity, which is. expected to settle a default notice the investor had served to. the business. The deals extend Vertical's money into the. 4th quarter of next year.
Vertical had actually revealed doubts about the business as a going. concern when it reported half-year results in September.
Analysts say eVTOL companies should consider production-only. company models to cut their cash burn, and advances towards. certification may generate pre-delivery payments. Mergers may. likewise be needed.
After accreditation, they will require to increase production. while decreasing eVTOLs' cost so they can compete with high-end. taxis. Experts state it will be important to keep battery and. infrastructure expenses under control.
Though these difficulties have caused expert scepticism. over eVTOLs dominating intra-city transport, some revealed. optimism.
Recently, Needham analysts initiated coverage of Joby and. Archer with buy scores, stating they saw a $3 billion early. stage worldwide air taxi earnings opportunity.
(source: Reuters)