Latest News
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Air India is looking for a new CEO to replace Campbell Wilson.
Air India is looking for a new CEO to replace Campbell Wilson. Two?sources? familiar with this matter said that the airline was still under intense scrutiny following a fatal crash in June. Air India's crash in June, which killed 260, has prompted a greater scrutiny of the airline. Regulators have flagged lapses that range from not checking emergency equipment to delays in replacing engine parts and crew fatigue. Wilson became Air India's CEO and managing Director in July 2022 after a career of 26 years at Singapore Airlines. He held various senior roles across the flagship carrier as well as its wholly-owned low-cost subsidiary Scoot. Wilson's tenure at Air India will end?in 2027. The Tata Group, Singapore Airlines' Air India and Wilson have not responded to requests for comment. (Reporting and writing by Aditya?Group and Abhijith?Ganapavaram; editing by Mrigank?Dhaniwala).
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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.
Mali's Barrick hardball talks are being driven by two former Barrick employees
According to sources familiar with the discussions, two former Barrick Gold executives who have inside information about the Canadian miner's operations in West Africa help drive Mali's demand for a payment from the Canadian company of approximately $200 million.
Mamou and Samba Toure were both employed by Randgold in Mali, now part of Barrick, which is a mining firm.
Mali's military government, which seized in December three metric tonnes of gold worth approximately $245 million from Barrick, has given miners until Saturday midnight to respond to their demands.
According to a source with knowledge of the situation, it wants Barrick pay back taxes totaling 125 billion CFA Francs ($199m) according to a source.
Source: If the deal is finalised Mali will return the gold seized and release the four Barrick executives who have been detained since November.
Barrick has publicly announced that he is a member of the Barrick
rejected
The charges brought against its employees are not specified. According to the court documents reviewed by, these include money laundering and funding of terrorism.
Barrick declined to answer any questions regarding the current status of the negotiations, and the Mali mines ministry also did not respond.
The dispute will have ramifications on global miners, foreign investors and others who have invested billions of dollars in West Africa. They are now being forced to follow a different set of rules because the military governments of Mali Niger and Burkina Faso want a larger share of mining revenue.
Beverly Ochieng is senior analyst at Control Risks for Francophone Africa. She said that the standoff with Barrick shows just how far governments led by military forces in the Sahel region are willing to go in order to force foreign operators to adhere to new regulations aligned with their pursuit of resource nationalism.
We spoke with more than 20 people, including mining executives and consultants, diplomats, and people who had direct knowledge of the discussions, to get a better picture of the negotiation. Sources requested anonymity due to the sensitive nature of the situation.
Nine people with knowledge of the situation say that the two Toures form part of a small group on the Malian front, including junta chief Assimi Goita and the Minister of Finance and Economy Alousseini Sanou.
They are not related, despite sharing a common surname. Samba Toure was older than the other two men by several decades and was West Africa Operations Director at Randgold. Mamou worked as underground manager at the Loulo Mine.
Sources said that Mamou is the most influential negotiator in Mali due to his close relationship with the powerful Finance Minister Sanou.
Mamou’s Iventus consultancy won the contract for auditing foreign mining companies in Mali. This led to the new mining code of 2023 and the renegotiation of the miner's contracts. Samba works now for him in the consultancy.
Mamou is the current boss, said a former co-worker. Samba's technical and managerial expertise was still crucial to decision making. "The decisions are made more by Samba than Mamou."
Mamou responded to detailed questions by saying that gold production has not benefited the Mali people as it should for many decades. Mali is Africa’s second largest gold producer.
He said, "It's only natural for the state to ask for a correction." "The state made great efforts to reach an accord, which is the reason all other companies reached an agreement with state."
Samba Toure has not responded to a comment request.
ACRIMONIOUS TALKS
Barrick's talks have been acrimonious, while other Western miners, including Canada's B2Gold, Allied Gold, and Australia's Resolute, have reached deals with Mali over the past few months.
Legal disputes, arrests, nationalisations, and threats are being used by the military governments of Mali, Niger, and Burkina Faso to strengthen their ties with Russia and gain greater control over gold and uranium.
Ochieng of Control Risks, however, said that this did not mean Western operators would be unwelcome. She said that several western mining companies were allowed to expand their operations and acquire new assets, provided they met the latest taxation and regulatory demands.
The Mali junta, which will take power in 2020 has pledged to examine its mining industry so that the state can benefit from gold prices at record highs.
Some companies, such as B2Gold, were able to reach an agreement quickly. Some companies, such as Australia's Resolute whose CEO was arrested while in Mali to hold talks, took a little longer.
B2Gold said it would proceed with its planned investments at its Fekola complex this year after achieving the deal. Resolute said on Thursday that its deal with the Mali government would allow for better collaboration as the mine is developed.
The relationship with Barrick deteriorated in the last year. Barrick paid 80 million dollars to release four Malians who were arrested by the authorities in September. Mali demanded more payments, as it is owed a total amount of $350 million.
Barrick generated $949m in revenue in the first nine-month period of last year from its operations in Mali.
Bristow announced in early November that it had agreed to offer Mali 55% economic benefits from the Loulo-Gounkoto mining complex, similar to the agreement struck by the miner with Tanzania five years earlier.
Mali demanded that the remaining amount be paid in one go, rather than in installments. Mali began to block Barrick's imports in early November.
Mali claims that Barrick still has 125 billion CFA Francs to pay after discounting VAT credits.
Mali issued a warrant of arrest for Barrick CEO Mark Bristow in December 5 after four Barrick employees were again detained when no payment was received.
Contacts continued in the background. On Dec. 6, a source who spoke with Barrick senior management said that Barrick was on the verge of paying a second 50 billion CFA tranche. The payment never materialized and the conversation ceased. On Tuesday, formal talks resumed.
Freddie Brooks is a metals & Mining analyst at BMI. A FitchSolutions Company. He said that Barrick, under Bristow, had the highest level of tolerance for operational risks among major miners.
He said that if they failed to negotiate a deal with Mali's junta military, it wasn't for lack of effort.
CLASHES WITH BRISTOW
Samba Toure left Randgold nine years ago, after an argument with Bristow who was the CEO at that time.
Samba's rift grew after he resigned and was denied the right to sell his Randgold shares, based in London.
Mamou Toure left Randgold after a dispute in 2015 with Bristow regarding the use of foreign contractors.
Barrick declined to comment on the circumstances surrounding the Toures departure.
Mamou's company Iventus Mining won the consulting contract when the government announced that it would audit the mines. Two sources claim that Samba Toure was the one who led the audits.
Samba became chairman of the board in 2022 after Mali established a state-owned mine, SOREM. Mamou was appointed as a member.
However, the influence of Toures cannot be denied. Last summer, junta leader Goita grew frustrated with the negotiations and brought in the director of state security, Modibo Kone, one of the five colonels-turned-generals who lead the junta, one source said. Kone's participation in the talks was confirmed by a second source.
According to a source familiar with these talks, at least once, the Finance Minister has taken over the negotiations and told Mamou to step down when he had gone too far in his requests.
Five sources claimed that the Mines Minister, a technocrat without any military ties, had been marginalized. Mamou, however, denied this, pointing out that the ministry has two members on the commission. He said that the commission receives its orders both from the Finance Ministry and the Mines Ministry.
The Mali finance ministry and the presidency have not responded to any requests for comment. The state security service could not be reached.
Special Forces Raid
Stockpiles of gold were increasing in the "gold room" located at Loulo-Gounkoto's complex, despite exports being banned.
According to a court order dated Jan. 2, Barrick had just over 3 tons of gold in its vaults as of Dec. 27.
Unannounced, a helicopter arrived at the landing strip of the mine complex in mid-morning Jan. 11. One source said that four special forces soldiers and a customs officer, along with two officers from the state mining department and other plainclothes personnel, disembarked the helicopter and handed paperwork to Barrick employees authorizing them to seize gold.
The source added that the second shipment was made in the evening.
The gold that Barrick's mines seized is currently in the vaults at the Banque Malienne de Solidarite, a state-owned bank in Bamako. The bank declined comment.
Barrick, the company that confirmed the seizure, has announced it will suspend operations at Loulo-Gounkoto.
According to the Jan. 2, order, the seizure of Bristow's and other Barrick employee's property was taken as a precautionary measure in connection with the money laundering charges and other unspecified crimes against Bristow.
Two sources claim that Barrick has resisted the government's request to migrate to the 2023 mining code due to increased taxes.
Barrick's mining license will be renewed next year. The government has indicated that it may refuse the permit.
A source who had previously consulted with the Malian government said that the government wanted leverage in the negotiation while the company was looking to secure a long-term contract renewal at favorable terms.
The person stated, "I don't think they trust each other but no one is interested in a split-up."
Some investors are predicting a difficult road for Barrick Mali. They even think the company may lose its assets.
Martin Pradier is a materials analyst with Veritas, a Toronto-based investment research firm that covers Barrick. The exchange rate is $1 = 626.7500 CFA francs. (Additional reporting from Tiemoko and Fadimata in Bamako. Writing by David Lewis, Portia Crowe and Daniel Flynn. Editing by Silvia Aloisi, Veronica Brown, and Daniel Flynn.
(source: Reuters)