Latest News
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Analyst: Ukraine reopens the Danube Canal after explosion
Analyst ASAP Agri stated on Tuesday that the Ukrainian Seaport Authority would reopen Bystre Canal, at the mouth the Danube from Wednesday. The canal had been closed since late July after a dredger explosion. In the first year following the Russian invasion of 2022, Ukraine was forced to use alternative routes for exports. This included the Bystre as well as the Danube. Ukraine has seen a sharp decline in its use of the Danube since the ports were opened up in 2023. In a press release, the consultancy stated that Ukraine will allow vessels up to 4.5 meters in depth to transit through the canal. The move will reduce the disbursement cost for shipowners, and help support negotiations regarding Danube-origin cargo by narrowing bid/offer differences," said Pavel Lysenko at ASAP Agri. The Seaport Authority has declined to comment. Last month, it announced that the Bystre had been closed after a dredger explosion on 23 July. It did not provide any further explanation. Traffic was diverted via the Romanian Sulina canal. ASAP Agri reported that the cost of using Sulina for shipowners was higher, and that many have raised their freight rates for Danube shipments in order to offset losses. It said: "Market participants expect a partial rebound in Danube cargo flows, as negotiations become more equalized." (Reporting and editing by Kevin Liffey; Pavel Polityuk)
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UK awards space launch license to Scottish firm
The UK has awarded its first space launch license to a Scottish rocket company. This will allow the Scottish startup to launch satellites from the first vertical launch site in the country. Skyrora was founded in 2017 and will be able launch up to 16 rockets per year. This is subject to the UK Civil Aviation Authority's (CAA) approval, the regulator announced on Tuesday. The company based in Scotland would launch rockets from the SaxaVord Spaceport, located in the Shetland islands, north Scotland. This site received a safety license last year and could therefore be used in the future. The Financial Times reported that SaxaVord told Skyrora there was no launch date available in 2025. Skyrora's Chief Executive Volodymyr Levykin stated in a press release that the firm was prioritizing a launch from Britain, but expected a delay. Levykin stated that despite having a vehicle and a license for launch, it was unlikely Skyrora would be able complete its launch in the UK this year. He said that the company could launch in Australia, Oman or Iceland. Rocket Factory Augsburg, a German company, was the first to receive a launch licence from SaxaVord earlier this year. Rob Bishton, CAA's Chief Executive Officer said: "Giving a homegrown company Skyrora its launch license is a significant milestone for our space industry and our nation." By 2030, the space market will be worth more than $1 trillion as companies from around the globe plan to deploy thousands internet-beaming Satellites. The British space industry employs more than 45,000 people, and produces more satellites outside of the United States. These efforts suffered a major setback in 2023, when a horizontal launch of a rocket from Newquay (south-west England) failed. SaxaVord's vertical launch would be a major boost to the industry. Skyrora must meet certain conditions before launching, including an adequate insurance policy, a data sharing agreement with the British Government, and agreements on airspace with other countries. (Reporting and editing by Sarah Young; Sachin Ravikumar)
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Mali: Islamist militants release Moroccan truck drivers detained since January
Mali's state media reported late Monday that militants affiliated with the Islamic State have freed four Moroccan truckers kidnapped back in January. This shows the growing intelligence collaboration between Mali and Morocco. A diplomatic source at the time said that in January, three men and their trucks vanished while traveling without escorts from Dori, Burkina Faso, to Tera, Niger. This area is known for its jihadist threat. State media broadcast footage of them with Assimi Goita, the leader of Mali's junta. The report said that they were freed Sunday. Burkina Faso led by the Junta, Niger and Mali battling militants linked to al Qaeda or Islamic State who have destabilised West Africa's Sahel for over a decade. All three countries have stopped their defence cooperation with France, and other Western forces. They now turn to Russia for support. Last year, they announced that they were withdrawing from the Economic Community of West Africa States. This increased the risk of diplomatic exclusion. Morocco has moved closer to three landlocked nations. In April, the Foreign Ministers of Burkina Faso Niger and Mali approved an initiative that offered them access to global commerce through Morocco's Atlantic port. Morocco also helped secure the December release of four French citizens who had been detained in Burkina Faso. According to Malian media, the release of four truck drivers on Sunday was the result of a collaboration between security and intelligence services in Mali and Morocco.
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Lufthansa cancels its plans to purchase a stake in Air Europa
A spokesperson for the German Group announced on Tuesday that Lufthansa had abandoned its plans to bid for an interest in the Spanish airline Air Europa. This comes only one week after Air France KLM also announced that it would be pulling out of the bidding process. Turkish Airlines is the only bidder known to exist. British Airways' owner IAG has a 20% stake but after years of discussions, failed to gain regulatory approval for the full takeover. After thorough analyses and intensive negotiations, at this point we have decided to refrain from further engagement in a capital contributions and shareholdings in Air Europa," said the Lufthansa spokeswoman. Globalia, a family-owned business that controls Air Europa, has declined to comment. Turkish Airlines has not responded to a comment request. Carsten Spohr, the chief executive of Lufthansa, said last week that negotiations over a possible stake at Air Europa would be difficult. Sources also stated that any proposed deal will be complex due to IAG's current stake. In the past, it was reported that the process had been delayed due to disagreements among members of the Hidalgo Family, who own Air Europa, as well as concerns expressed by interested airlines about the structure of this deal. Reporting by Ilona wissenbach and Joanna Plucinska. Additional reporting by Ceyda caglayan and Inti landauro. Editing by Inti landauro and Kirsten Donovan.
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Data show that despite the rapid growth of China's renewable energy capacity, its utilisation is still low.
Official statistics released on Monday showed that China's renewable energy potential in distant provinces is increasingly being wasted, as it rushes to increase long-distance transmissions and energy storage systems to fill the gap. According to the National New Energy Consumption Monitoring and Early Warning Center, the curtailment rate of solar power increased to 6.6% during the first half 2025 from just 3.9% a year ago. The rate for wind also rose from 3% to 5.7%. Grid managers must limit the power entering the grid in order to balance the demand for electricity or because of grid infrastructure limitations. China's national curtailment limit for renewables is 10%. This was reduced from 5% last year as it became more difficult to integrate increasing amounts of renewable energy in the grid. According to the Energy Administrator, China installed 268GW in solar and wind energy between January and June. This is nearly as much power as the United States ever built. China's figures at the national level masked an increase in certain provinces that are heavy on renewable energy. Tibet reduced wind power by 30.2% in the first half 2025, compared to 2.3% one year ago. It reduced 33.9%, up from just 5.1%. Qinghai, in the northwest, has reduced its solar power by 15.2%. This is up from 8.8%. The regions with the highest electricity demand continue to report low curtailment rate, including none in Shanghai and Chongqing. Analysts say that the underutilisation of renewable energy is driving China to shift its focus away from building rapid renewable plants and towards ensuring more power is delivered to the grid. "China will continue to push for decarbonisation but not necessarily renewable installation." Haoxin Mu, Natixis' economist, said that China could shift its focus on policy or the target from "installation volume" to utilisation. Mu stated that more energy storage was needed. This could increase renewable usage by storing excess electricity when the supply exceeds the demand. Analysts at BMI stated in a note from July that China's investment in projects such as the world's biggest hydropower dam in Tibet is due to the rising curtailment. Hydropower, unlike wind and solar power, can be dispatched, which means that output can be adjusted according to demand. BMI analysts say that China has also responded to the increasing curtailment in non-hydro renewables in the last two years by building high-voltage transmission lines to move electricity between huge power plants located in the west and electricity-hungry eastern cities. (Reporting and editing by Hugh Lawson; Colleen Waye)
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Adani Ports in India reports a quarterly profit increase on cargo growth
Adani Ports and Special Economic Zone in India reported on Tuesday a rise in quarterly profits, thanks to a growing cargo volume. India's largest private port operator can be used as a proxy to predict long-term prospects for infrastructure in the fastest growing major economy on earth. The April-June period saw a 6.5% increase in the consolidated net income to 33.15 billion Rupees (377.6 millions dollars). The company announced that Gautam Adani, its Executive Chairman, will become a non-executive chairperson. The company said that the Indian billionaire will no longer be a key manager of the firm. The port operator's cargo volumes grew by 11% year-on-year during the third quarter. This was faster than the 8% growth in the previous quarter and the 7.5% increase a year ago. This boosted its revenues by 31 percent to 91.26 trillion rupees. Adani Ports has maintained its forecast for cargo volumes in fiscal year 2026 at between 505 and 515 millions metric tons.
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The majority of Gulf bourses follow the global rally as Fed's easement bets increase
Investors increased their bets on the U.S. Federal Reserve to support the world's biggest economy. CME Fedwatch says that the soft U.S. payroll data on Friday has increased the odds of a Fed rate cut in September. This is a significant increase from the 63% chance it had at the beginning of the week. The Fed's interest rate movements have a major impact on the Gulf Region's monetary policies because the majority of their currencies are pegged with the U.S. Dollar. Dubai's benchmark index of stocks rose 0.6% on the back of gains in shares related to real estate, utilities, and industry sectors. Emaar Properties increased by 1.5%, and Emirates Central Cooling Systems Corporation grew by 1.7%. EMPOWER, a provider of district cooling services, reported a 15.3% rise in net profit for the quarter attributable directly to shareholders. Dubai's non oil sector also showed solid growth, with the PMI increasing to 53.5 from 51.8 in May, mainly due to a marked improvement in sales volume. After two consecutive sessions in which it had fallen, the benchmark Abu Dhabi index gained 0.3%. This was boosted by an increase of 2.4% in Abu Dhabi Commercial Bank, and a gain of 1.3% in Burjeel Holding. The benchmark Qatari index rose 0.2% thanks to a 1.3% increase in the telecom services provider Ooredoo, and a 0.8% rise in Qatar Islamic Bank. Saudi Arabia's benchmark index rose 0.2% at the opening of trading. The majority of sectors, including IT, real estate, and healthcare stocks, were in positive territory. ADES Holding grew 2.3%, while Elm Company, a digital security company, gained 3%. ADES, a Norwegian oil drilling company, has agreed to purchase Shelf Drilling from Oslo's listed rival for 3.9 billion Norwegian Crowns ($379.33 millions) in cash. Saudi Aramco was, however, down by 0.3%. Aramco, the oil giant, reported a 22% decline in its second-quarter profits, due primarily to lower revenues, and increased debt. Reporting by Md. Manzer Hussain, Editing by Helen Popper
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Officials say that two children were injured in the Russian attack on Kharkiv.
Officials said that in the largest air strike on Lozova, Ukraine, since the beginning of the war, Russia killed one person and wounded 10 others, including two children. In a press release, Ukrzaliznytsia, the state railway operator, said that the "massive strikes" had damaged the station and other infrastructure of the town. Kharkiv is a major transport hub bordering Russia. Emergency services shared photos that appeared to show a damaged rail car and rubble on a train station. Serhiy Zelenskiy, the head of the town council in Lozova, wrote on Telegram that "critical infrastructure and apartment buildings have been damaged... Lozova is the most heavily attacked city since the start of the war." He added that two children were injured in the attack, which left some parts of the area without water and power. Ukrzaliznytsia reported that one of their employees was killed and four others were injured. Ten people were reported injured by emergency services. Volodymyr Zelenskiy, Ukrainian president, said that Russia had damaged civilian infrastructure at Lozova by using more than 25 drones. A depot and a train station were also damaged. According to a statement posted on Telegram, the Ukrainian air force shot down 29 of 46 Russian drones that were launched across Ukraine overnight. It said that a ballistic missile as well as 17 drones were launched at various locations. It was not possible to independently verify the reported casualties and damages. Russia has not yet responded. Both sides deny that civilians were targeted in the war launched by Russia in February 2022, when it invaded Ukraine on a large scale. Reporting by Lidia Kelley in Melbourne and Anastasiia Mlenko in Kyiv, Editing by Saad Said and Andrew Heavens
Ethiopian Airlines revenue increases as it adds more routes and passengers.
Ethiopian Airlines revenue rose by 8% during the financial year 2024/25, thanks to an increase in passengers and new routes, although there were challenges on certain routes due conflicts, said Chief Executive Mesfin Tassew Bekele on Tuesday.
Mesfin, a spokesperson for the state-owned carrier and Africa's largest airline, said that passenger numbers increased by 11%, to 19 millions, in the year ended July 7.
Revenue increased 8% compared to a year ago, reaching $7.6 billion. However, growth has slowed down from the 15% in 2023/24.
Mesfin cited conflicts in Sudan and the Middle East, as well as the Democratic Republic of Congo, to say that "it was a great performance, despite global challenges."
He said that certain changes to the law in the United States have affected the airline's operation there.
Ethiopian operates a fleet of over 150 aircraft. It took delivery of the fourth Airbus A350-1000 on Saturday.
Bekele stated that the airline would be looking at the possibility of purchasing 20 small regional jets or narrow-body aircraft as part of its plans to replace older aircraft and expand the domestic fleet.
This airline is one of many that has had to ground aircraft because of bottlenecks at engine maintenance facilities.
Mesfin stated that the airline has added six new routes by 2024/25.
It signed an agreement last year for the design of a mega four-runway Airport near the town Bishoftu. This airport will be Africa's largest airport once construction is complete in 2029.
The airport can handle up to 100 million passengers per year, and will provide parking for over 270 aircraft. (Reporting and writing by Dawit Endeshaw, George Obulutsa, Editing by Susan Fenton).
(source: Reuters)