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ANI reports that the black box of the crashed Air India jet is still in India.
ANI, citing Ram Mohan Naidu, the civil aviation minister, reported that the black box from the Air India jet, which crashed and killed 271, is still in India. It is currently being examined by an aircraft accident investigation team. Naidu made his comments after a report in the media that the flight data recorder would be sent to the United States of America for analysis. According to a post by ANI on the social media platform X, Naidu stated that the black box of the crashed AI 171 plane is still in India. It is being examined and analyzed by the Aircraft Accident Investigation Bureau. The Indian government announced on Thursday that a decision would be taken on the location of the decoding after AAIB had made a "due evaluation" of all safety, security and technical considerations. (Reporting and editing by Andrew Heavens; Abhijith Ganapavaram)
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US Safety Board to examine Boeing's role in 737 MAX 9 Mid-Air Emergency
The U.S. National Transportation Safety Board is holding an hearing on Tuesday, to determine the likely cause of a cabin panel that blew out mid-flight of a Boeing 737 MAX 9 in January 2024. This caused a major crisis for the planemaker. Officials said that the board would be expected to criticize Boeing for its safety culture, and also for failing to install four bolts on a new Alaska Airlines MAX 9 aircraft. Jennifer Homendy, Chair of the NTSB, said that the incident could have been avoided because the aircraft manufacturer should have addressed the unauthorized production long ago. This accident shouldn't have happened. Homendy, during a two day investigative hearing in August last year, said that this should have been detected years earlier. "The safety culture is in need of a lot more work." The incident prompted the Justice Department's opening of a criminal probe and declared that Boeing did not comply with a deferred prosecution 2021 agreement. CEO Dave Calhoun also announced his resignation within a few month after the mid-air blowout. The incident severely damaged Boeing's image and resulted in the MAX 9 being grounded for two weeks. Federal Aviation Administration also imposed a monthly production cap of 38 MAX planes, which is still in effect. Boeing did not create any paperwork to document the removal or reinstallation of the 737 MAX 9 emergency exit door plug – a metal piece shaped like a small door – during production. The NTSB also stated that Boeing was unaware of which employees were involved. Boeing has not responded to an inquiry for comment made before the meeting. Michael Whitaker, the then-FAA administrator at the time, said that the agency had "too little involvement" in Boeing's oversight in June 2024. It has since increased the number of inspectors in Boeing and Spirit AeroSystems plants. Boeing agreed to plead guilty last July after two deadly 737 MAX crash in Ethiopia and Indonesia. Last month, it struck a deal to avoid a plea of guilty with the Justice Department. The Justice Department asked a court to approve a deal that would allow Boeing to avoid having to plead guilty or face oversight by an external monitor, but it will also require the company to pay $444.5 in additional funds to a fund for crash victims to be split equally between each crash victim. (Reporting and editing by Jamie Freed; David Shepardson)
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Russia faces gas surplus as European exports collapse, eyes data centres
Officials and managers of companies have stated that Russia, the country with the largest reserves of natural gas in world, is looking for ways to use its surplus gas to run data centres. This comes as European exports continue to fall. According to calculations, the conflict in Ukraine caused Gazprom to see its gas exports to Europe reach a peak between 175 and 180 billion cubic metres in 2018-2019. By 2024, however, it is estimated that this will drop to only 32 bcm. This level will drop by half again in this year, following the suspension of Russian gas transit through Ukraine. Alexei Chekunkov said that the northern regions of Russia are facing a natural gas glut, at the St. Petersburg International Economic Forum. Chekunkov said that a half billion cubic meters of gas per day used to flow through gas pipelines into the West. Now, this does not happen, and it is urgent to figure out what to do with the gas. Chekunkov said that investors are increasingly focused on the gas-chemical sector. Surplus gas can also be used as a source of power to power data centres using artificial intelligence technologies. Gazprom's production of gas in 2014 was 416.19 billion cubic meters, a record high compared to the 355.23 billion cubic meters produced the year before. In 2024, Gazprom could sell only 361.7 bcm domestically and abroad. Gas is also used by the company for its own purposes, such as power generation on its gas fields and pipelines. Interfax reported that BitRiver, Russia's largest operator of data centres, could consume up to 10 billion cubic meters (bcm) of associated petroleum gases annually for large-scale mining cryptocurrency. Pavel Sorokin (Russia's deputy minister of energy) told the forum the cost of natural gas is too high for data centres. He thinks that the gas can be used to produce coal, which is facing a number challenges including international sanctions due to the conflict in Ukraine. "We're in a tough spot with coal right now. He said: "Why should we use gas that is expensive to increase data capacity, when we could build power plants in a coal mine?"
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What are China's interests in Iran economically?
China, which is one of Iran's most important allies, and its biggest oil buyer, has been urging for a diplomatic resolution to the conflict between Iran and Israel. Here are some details about its investment in Iran. COOPERATION PACT Beijing has long supported the U.S. sanctioned Tehran in its efforts to increase its economic and strategic clout in the Middle East. They signed a 25 year cooperation agreement in 2021. However, full details have never been disclosed, and analysts claim that the implementation of this deal has been poor. The Chinese investment in Iran is still far behind what Beijing invests in other nations of the region. Bill Figueroa is a China-Middle East specialist at the University of Groningen, in the Netherlands. Chinese Commerce Ministry data show that its direct investment in Iran at the end of 2023 will total $3.9 billion. The think-tank claims that Beijing has invested almost $15 billion between 2007-2024 in Saudi Arabia and more than $8 billion between 2013-2022 in the United Arab Emirates. ENERGY: China purchases roughly 13,6% of its crude oil from Iran, which accounts for 90% of Iran's exports. According to Vortexa, around 65% of the total crude and condensate that is shipped through the Strait of Hormuz near Iran is bound for China. China National Petroleum Corp. (CNPC), in 2016, signed a $4.8 Billion deal with France’s Total for the development of the South Pars offshore gas field in Gulf with an Iranian State firm. CNPC's 30% stake was valued at around $600 Million. Despite this, the state-owned oil giant withdrew from the project in 2019 due to pressure by the United States. CNPC signed a contract in 2009 for the development of the North Azadegan Oil Field, the first phase being valued at around $2 billion. In 2016, the first shipment of 2,000,000 barrels of oil was sent to China. Sinopec, China's largest refiner, signed a deal worth $2 billion in 2007 to develop the Yadavaran Oil Field. Sinopec signed in 2017 a $2.1 billion contract to upgrade Abadan refinery near the Gulf Coast. The refinery is still under construction. China's LDK Solar and Iran's Ghadir Investment Group have signed a 2024 agreement for a large photovoltaic plant. The investment is expected to be around 1 billion euro ($1.16 billion). The plant was to produce 2 billion kilowatt hours of solar energy annually. RAILWAYS: China National Machinery Industry Corporation, a subsidiary of the China National Machinery Corporation, signed a deal in 2018 worth 5.3 billion yuan (738 million dollars) to renovate and expand a railway that connects Tehran to Hamedan and Sanandaj. This will improve connectivity throughout west Iran. A subsidiary of China Railway Construction Corporation also signed a contract in the same year for a 263 km Kermanshah to Khosravi rail project in west Iran. The construction period was 48 months. China's Norinco International, a Chinese company, signed an agreement with the Iranian city Qazvin in 2018 for the construction of the first tramway in Qazvin. The contract was worth about $150 million. China Eximbank and a state-owned Iranian bank signed in 2017 a $1.5billion deal to upgrade and electrify the 926 km rail between Tehran and Mashhad, as part of Beijing’s Belt and Road Initiative. The project is stalled due to financing negotiations. Metals China's Metallurgical Corporation invested $350 million into the Sepid Dasht Steel Plant in 2017 and won a contract to design a pelletising system. Local media, however, reported that financing issues had delayed the projects.
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All but one of the 260 victims of Air India crash have been identified by authorities
The authorities in Gujarat said that on Tuesday, they had identified 260 of the bodies found in Ahmedabad after an Air India flight crashed earlier this month. A Boeing 787-8 Dreamliner carrying 242 passengers bound for London Gatwick Airport lost height after takeoff from Ahmedabad, India, on June 12. It exploded in a fiery fireball when it struck a medical school hostel. The crash killed 19 people, including one survivor on the ground. Officials remained cautious about the final death toll, despite the fact that the number of deaths was lower than the earlier estimate by the authorities. "We have identified 259. There are 240 passengers, and 19 others. Rakesh Joshi said that the DNA test results of one passenger are still awaited. The crash site is still being cleaned. We cannot announce the final death count until we know that there are no more victims to be found," Joshi said. In a press release, the local administration said that the remains of 256 victims had been returned to their families. It added that 253 victims' identities were confirmed through DNA matching, and the six remaining victims through facial recognition. (Reporting and editing by Bernadettebaum)
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Gulf markets surge after Israel-Iran truce
The major Gulf stock markets advanced early on Tuesday, with risk appetite increasing after U.S. president Donald Trump announced that Iran and Israel agreed to a truce. Trump declared a ceasefire that could end the 12-day conflict which saw millions of people flee Tehran, and raised fears about further escalation. Saudi Arabia's benchmark stock index rose by 2.1%. The biggest contributors to this increase were Al Rajhi Bank, which saw a 1.9% gain and Saudi National Bank, the largest lender in Saudi Arabia. Flynas, a company recently listed on the stock exchange, soared by more than 7% and reached 79.80 Riyals. Saudi Aramco, the oil giant, fell 1.7% while SABIC Agri-Nutrients Company, a fertilizers company, declined by 1.1%. After Israel accepted Trump's offer, oil prices fell to their lowest level in two weeks, as fears of supply disruptions were eased in the Middle East - a region that produces a lot of oil. Brent crude futures fell $3.82 or 5.3% to $67.66 per barrel at 0645 GMT. Dubai's main stock index rose 3.1%, its largest intraday gain since mid-December. The gains were boosted by a 4.7% increase in blue-chip developer Emaar Properties. Air Arabia, a budget airliner, is among the winners. Its share price jumped 7.2% in one day - its highest single-day gain in more than three years. Benjamin Netanyahu, the Prime Minister of Israel, said that Israel had agreed to Trump’s proposal for a truce with Iran once it achieved its objective of eliminating Tehran's ballistic missile and nuclear threat. Aldar Properties, a property developer in Abu Dhabi, grew by 8.3%, leading the index to gain 2.2%. The benchmark index in Qatar rose more than 2%. Qatar Islamic Bank rose 2.2%. Qatar has reopened its skies after a short suspension, the civil aviation authority announced early on Tuesday. This follows a missile strike by Iran against an American base in Qatar that was carried out on Monday, but which caused no injuries. (Reporting from Ateeq Sharif in Bengaluru, editing by Andrew Cawthorne.)
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Australian shares snap a five-day losing streak as Iran-Israel ceasefire lifts the sentiment
After U.S. president Donald Trump announced that Israel and Iran had agreed to a ceasefire, the Australian share market closed higher Tuesday. Financial stocks led the rally. After five sessions of consecutive declines, the S&P/ASX 200 ended up 1% higher. It had its best day of trading since early May. Trump announced late on Monday a ceasefire between Israel, Iran and possibly the end of a 12-day war. He announced the ceasefire a few hours later and asked both sides not to break it. The Australian market is sensitive to geopolitical events, as mining stocks have a direct impact on commodity prices. The ceasefire announcement was a catalyst to the strong recovery following a couple of disappointing sessions. The heavyweight financial sub index closed at a record high of 1.9%. Commonwealth Bank of Australia, Australia's largest lender, closed up by 2.1% after reaching a new high. The mining stocks gained 2%. Copper prices increased 0.4%, but iron ore prices remained stable. BHP and Rio Tinto both rose by 2.4% and 3.1% respectively. Kim stated that financial and mining stocks offer high dividend yields, which makes them attractive. Investors are likely to also stick with sectors that focus on domestic factors such as the local monetary policies. The Consumer Discretionary Stocks rose by 0.7%. Oil prices dropped sharply after the Iran-Israel ceasefire, easing concerns about disruptions in supply. Sector major Woodside Energy fell 6.5%. Virgin Australia's debut market performance saw a 11.4% increase. In response to the fall in oil prices, Qantas, a larger rival, increased 2.4%. This eased concerns about higher fuel costs. Investors in the local market will be waiting to see Wednesday's inflation figures. The benchmark S&P/NZX50 index in New Zealand ended the day 0.5% lower, at 12,467.48. (Reporting and editing by Vijay Kishore in Bengaluru, Nikita Maria Jio from Bengaluru)
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Tesla's Robotaxi Launch was Easy
Tesla has finally developed a robotaxi. The hard part is now. In a carefully controlled small-scale test, the electric-vehicle manufacturer deployed its first ever driverless cabs on Sunday in Austin, Texas. The company will then have to face the challenge of fulfilling Elon Musk's ambitious goal to improve the software and upload to millions of Teslas in a year. About a dozen experts in the field of autonomous vehicles and industry analysts said that such a rapid rollout would be extremely difficult. The observers had a variety of opinions about Tesla, but they all warned against expecting a rapid robotaxi rollout. Several pointed out that Tesla could use its advantages to beat rivals such as Alphabet Waymo, and a number of Chinese tech and auto companies. Tesla is a mass-manufacturing company and has pioneered the use of remote software updates for self-driving car upgrades. It also relies solely on artificial intelligence and cameras, and does not use radar or lidar sensors like Waymo. A rollout could happen very quickly. Seth Goldstein of Morningstar, a senior equity analyst, said that if the software worked, Tesla robotaxi would be able to drive anywhere in the world. He cautioned, however, that Tesla was still "testing" the product. Musk has been saying for years that Tesla will soon be operating its own autonomous ride hailing service. He also said any Tesla, whether new or used, could become a robotaxi, which generates cash, and would then provide it to its customers. Bryant Walker Smith is a University of South Carolina professor who specializes in autonomous-driving regulations. He said that testing will be "orders of a magnitude" more challenging than the Austin tests. Smith stated that it's "like announcing 'I am going to Mars' then going to Cleveland." Musk said Tesla would reach Mars in this metaphor very quickly. "I predict there will be millions Teslas operating completely autonomously in second half of next years," he stated in April. Musk and Tesla have not responded to any requests for comments. Tesla shares closed Monday at $348.68, up 8.2% on the back of investor excitement over the launch of robotaxis. Given Tesla's AI-dependent approach, its challenge will be machine-training robotaxis to handle complex traffic "edge cases," said Philip Koopman, a Carnegie Mellon University computer-engineering professor and autonomous-technology expert. This could take years. Koopman asked: "How long did it take Waymo?" Tesla is not going to be faster. Waymo began its self-driving project in 2009, the same year Google launched it. In 2015, an egg-shaped prototype made its public debut in Austin. Since then, Waymo has built a fleet of 1,500 robotaxis in selected cities. A spokesperson for Waymo said that the company plans to add another 2,000 vehicles by 2026. Some analysts think Tesla can expand more quickly, partly because Waymo helped pave a way for it by overcoming technical and regulatory challenges. Paul Miller, a market-research analyst with Forrester, said: "Waymo, and other pioneers, have helped drive regulatory changes and made riders, pedestrians, and other road users, aware of autonomous vehicle technology." Miller added that being a mass manufacturer also benefits Tesla. Waymo purchases Jaguar I-PACEs and equips them with expensive sensors and technologies than Tesla incorporates into its cars. Waymo refused to comment on Tesla’s potential robotaxi expansion. John Krafcik remains sceptical. Krafcik believes that the precautions Tesla took in Austin show it doesn't have confidence in its technology at large scale. He said, "And they shouldn’t." "It is not as safe and documented as Waymo's approach to safety." The road is on the 'WRONG side' Some analysts believe that Tesla's "go-fast" strategy could slow down its progress as well as the industry of autonomous vehicles if it undermines trust amongst the public. Tesla's Full Self-Driving system (FSD), which is not completely autonomous, has been the subject of legal and regulatory problems in the past. Investigators in a recent federal safety investigation into Tesla are looking at FSD's involvement in crashes, some of which were fatal, that occurred due to rain or other bad weather that interfered with the system cameras. Musk announced on his social media platform X that the robotaxis technology was similar to Tesla, apart from a small software update. "These are unmodified Teslas coming straight from factory," he wrote. The automaker invited Tesla supporters to ride its first robotaxi, and the feedback was generally positive. A robotaxi passenger posted a video on social media showing the vehicle driving through a four lane intersection at a traffic signal and then into the wrong lane for six seconds. At the time, there was no traffic in the lane. In a video narrated by Rob Maurer on X, he said, "Obviously, we're on wrong side of double-yellow lines here." He noted that he was safe, but the car behind him honked because of the "confusing move." Maurer has not responded to any requests for comment. The video's location was verified by matching street signs, buildings and businesses to the intersection of West Riverside Drive in Austin. A witness also measured the speed of another Tesla robotaxi as it travelled between 40-45 mph on First Street adjacent to the Texas School for the Deaf. Signage warned drivers to be alert for deaf pedestrians.
Middle East flights suspended by airlines
Israel's attacks against Iran have caused international airlines to stop flights to certain Middle East destinations because of airspace closures and safety issues.
The conflict has entered a new phase after the U.S. invasion on
Iranian nuclear sites
Some airlines have cancelled flights to hubs such as
Dubai is Qatar's Doha.
Here are some airlines that have canceled flights from and to the region.
AIRBALTIC
AirBaltic, a Latvian airline, announced that it had cancelled all flights from and to Tel Aviv up until September 30.
AIR EUROPA
Spanish airline cancels flights from and to Tel Aviv through July 31.
AIR FRANCE-KLM
French flag carrier suspends flights to Tel Aviv and Beirut until July 14, and until June 25, respectively. Air France has also cancelled flights to and out of Dubai and Riyadh up until June 24.
KLM has announced that it will cancel all flights to Tel Aviv and vice versa until July 1.
AIR INDIA
Air India has ceased all flights to and from Europe, the East coast of North America, and the Middle East with immediate effect.
DELTA AIR LINES
Travel to, from or through Tel Aviv could be affected between June 12 and July 31.
EL AL ISRAEL AIRLINES
The airline announced that its normal flight schedules for EL AL, Sundor and other destinations had been cancelled through June 27, 2018. Flights scheduled to depart until July 22 are also closed for bookings.
ETIHAD AERWAYS
Etihad announced that it has cancelled flights between Abu Dhabi, Tel Aviv and Tel Aviv up until July 15, 2015. In the next few days, Etihad expects delays and disruptions to several flights.
EMIRATES
Emirates has temporarily suspended its flights to and out of Iran and Iraq, until June 30.
FINNAIR
Finnair has cancelled all flights from and to Doha until June 30th, as well as flight AY1982 for July 1. Finnair added that it would not be flying over the airspaces of Iraq, Iran or Syria.
FLYDUBAI
Flydubai has temporarily suspended its flights to and out of Iran, Iraq and Israel until June 30, 2018.
British Airways, owned by IAG, has announced that flights to Tel Aviv will be suspended until July 31, and flights to Amman or Bahrain will also be suspended until June 30.
Iberia Express, IAG's low cost airline, announced previously that it would cancel its flights to Tel Aviv up until June 30.
Iberia has announced that it will not resume its flights to Doha as planned on the 24th of June after Qatar temporarily closed down its airspace.
ISRAIR
Israeli Airlines has announced that all flights to and from Israel have been cancelled until June 30, 2018. Israir has halted the sale of its flights up to July 7 inclusive.
ITA AIRWAYS
Italian Airlines announced that it will extend the suspension of Tel Aviv flight until July 31. This includes two flights scheduled for August 1.
JAPAN AIRLINES
The Japanese airline has cancelled all flights to Doha up until the 27th of June.
LUFTHANSA GROUP
Lufthansa has suspended flights from and to Tel Aviv, Tehran and Beirut until July 31. Amman and Erbil flights are cancelled through July 11. German Airlines added that they would not use the airspace of these countries until further notice.
OMAN AIR
Omani Airlines temporarily suspended flights between Manama and Dubai, and Kuwait.
PAKISTAN INTERNATIONAL AIRLINES
Pakistan's PIA has cancelled flights to Qatar and other destinations including Bahrain, Kuwait, and Dubai.
PEGASUS
Turkish Airlines has announced that they have cancelled all flights to Iran and Iraq until July 30, and all flights to Lebanon, Jordan and Lebanon until June 30.
QATAR AIRWAYS
Qatar Airways has temporarily canceled flights to and from Iraq and Syria.
RYANAIR
Ryanair has announced that it will cancel flights from and to Tel Aviv up until September 30.
SINGAPORE Airlines
The Asian carrier has cancelled flights from Singapore to Dubai up until the 25th of June.
The flag carrier of Romania has announced that all flights between Tel Aviv, Beirut, and Amman have been suspended until 30 June.
TUS AIRWAYS
The Cypriot Airlines cancelled all flights scheduled to depart and arrive in Israel until June 30, inclusive. The airline said that flights scheduled to depart between July 1-7 are currently sold out, pending any further developments.
UNITED AIRLINES
According to the U.S. airline, travel from and to Tel Aviv could be affected between June 13, and August 1, 2018. There may be problems with flights to and from Dubai between June 18th and July 3rd.
WIZZ AIR
Wizz Air has announced that it will suspend its flights to and from Tel Aviv, Amman and Jordan until September 15, 2015. Hungarian Airlines will not overfly Israeli, Iraqi or Iranian airspaces until further notice. (Reporting and compilation by bureaus, compiled by Agnieszka Olesnka, Elviira Loma, and Tiago Brancao; Editing by Matt Scuffham, Alison Williams and Matt Scuffham)
(source: Reuters)