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Charity groups say that ships near Italy have rescued 32 migrants and 71 others who were lost at sea.
Rescue charities reported that two merchant ships near the Italian coast recovered the bodies?of?two migrants?and rescued 32 survivors?from a boat attempting to?cross?to europe from Libya at Easter weekend. The survivors claimed 71 other people were lost at sea. Mediterranea Save Humans and Sea-Watch, two groups that work together to save lives in the Mediterranean, have confirmed the victims' transfer to a patrol boat of the Italian coast guard and their arrival on the Italian island of Lampedusa. The Italian?interior minister said that it did not have any comment to make on the report. The Italian?Coast Guard didn't immediately respond to a request for a comment. Sunday is Easter in Italy. The rescue charities reported that survivors said 105 people were on board the ship, but 71 of them drowned at sea. A video released by Sea-Watch showed a dozen people holding on to a capsized, orange boat when the merchant ship approached it. The 'Mediterranean has been ravaged by bad weather this year. This has limited the number of departures out of North Africa, and caused serious problems for those who have managed to set sail. IOM estimates that at least 683 people have died in the central Mediterranean this year. This is the highest death toll since 2014. (Reporting and Editing by William Maclean, Joshua McElwee and Matteo Negri)
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Trump says he will strike Iran's infrastructure on Tuesday, if the Strait is blocked
In a sarcastic social media post published on Sunday, U.S. President Donald Trump said that the United States would target Iran's bridges and power plants on Tuesday if the Strait of Hormuz was not reopened. In Iran, Tuesday will be "Power Plant Day" and "Bridge Day", all rolled into one. It will be a first !!!" Trump stated in a "Truth Social" post that Tehran had effectively closed the main shipping lane since the U.S. launched its attacks against Iran over a month ago. Trump concluded his?Easter Morning post by saying: "Praise to Allah." Separately, the president said that he would hold a news conference in the Oval Office on Monday after?the U.S. The?pilots of the?downed aircraft in Iran. (Reporting and editing by Susan Heavey; Dan Burns, Ros Russel)
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Shipping data shows that a tanker loaded with Iraqi crude oil passes through Hormuz.
Data from LSEG/Kpler showed that an oil 'tanker' loaded with Iraqi crude was seen transiting the Strait of Hormuz near the Iranian coast a few days after Iran announced Iraq was exempted from any restrictions on transiting this vital -sea route. Kpler data shows that the Ocean Thunder loaded approximately 1 million barrels of Basrah heavy crude on March 2. It is expected to "discharge" its cargo in Pengerang, Malaysia by mid-April. Iran closed the Strait after U.S. airstrikes and Israeli strikes on Iran in late February escalated a conflict. Later, it said that vessels without U.S. and Israeli connections would be allowed to pass through the strait. In recent days, three Omani tankers, as well as a French-owned container vessel?and a Japanese owned?gas carrier?have crossed.
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Leaders say that explosives were found near a gas pipeline in Serbia that supplies Hungary.
Leaders from Serbia and Hungary said that explosives of "devastating power" were discovered near the Turkstream pipeline in Serbia, which carries Russian gas to Hungary. Hungarian Prime Minster Viktor Orban claimed that Serbian President Aleksandar Vucic had told him explosives were found near the pipeline transporting Russian gas from the Balkans into Central and Eastern Europe. Vucic, an ally close to Orban, wrote on Instagram that "our units found explosives of devastating power." "I told Orban, the?PM that we would keep you updated on this investigation." Orban, after a phone call with Vucic on Sunday, announced in a post on Facebook that he called an "extraordinary defence council meeting". The incident occurs a week ahead of the pivotal election on April 12, where Orban, a nationalist, is fighting to maintain his 16-year hold on power. His party trails in polls the opposition Tisza Party. Orban had increased security around the energy infrastructure of?the nation in February. He raised the stakes for?the elections by saying that it was a matter of choosing between war and peace. Budapest is also embroiled in a dispute with Ukraine due to a halt in oil deliveries via the Druzhba Pipeline. Orban's Fidesz has tried to link?opposition leader Peter Magyar with Brussels and Ukraine by suggesting that voting for his Tisza Party means voting for war and tanks. (Reporting and writing by Krisztina than; editing by Hugh Lawson, Helen Popper, and Edward McAllister)
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After drone attacks, a fuel reservoir was hit in Primorsk. The NORSI refinery is on fire.
Russian authorities reported that a drone attack caused fuel to leak at the port of Primorsk in Russia's Baltic Sea, and an oil refinery called?NORSI? caught fire after a drone strike. Ukraine intensified its attacks against Russian energy infrastructure over the last month to damage Russia's main source of revenue, and undermine its military power. Alexander Drozdenko, the governor of Leningrad's north-western?region, initially claimed that a pipeline had been damaged in Primorsk. Primorsk is one of Russia’s major oil exporting ports. Later, he said on Telegram that the pipeline wasn't damaged but the fuel reservoir near the port was leaking when it was struck by shrapnel. U.S. commercial images of satellites taken by on Thursday showed that the drone attack in Ukraine last month destroyed at least 40% of Primorsk's storage facilities, which are capable of handling 1 million barrels of oil per day. Around 40% of Russia's ability to export oil was shut down last month due to the attacks and the closing of the Druzhba Pipeline in Ukraine. Also, tankers with a Russian connection were seized. OIL REFINERY ON FIRE Gleb Nikitin (the Governor of Nizhny Novgorod Region) said on Telegram on Sunday that a fire broke out at Russia's NORSI Oil Refinery, the fourth largest in the country, after a drone strike. He added that two facilities were also?hit. According to initial information, a "power station" and "several houses" were damaged in the attack. However, no one was injured. NORSI can process up to 16 million metric tons of oil a year or 320,000 barrels a day. Andrey Kravchenko is the mayor of Novorossiysk, Russia's biggest?port along the Black Sea. He said that an air alert had been triggered due to the drone attack threat. During such alerts, oil loadings are typically suspended, including at the Caspian Pipeline Consortium terminal that handles Kazakhstan's oil exports. Kevin Buckland, Hugh Lawson and Kevin Buckland edited the report.
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Sheriff's Office: Vehicle crashes into Louisiana crowd injuring 15 at least
Law enforcement officials reported that a car slammed into crowd in New Iberia (Louisiana) on Saturday. Some of the injuries were critical. Rebecca Melancon, spokesperson for the Iberia Parish Sheriff's Office, said that a suspect was arrested and an investigation is?ongoing' following the incident. The incident occurred near a celebration of 'Lao New Year'. She said it was not clear whether the incident in the car was intentional. Acadian Ambulance announced on social media that it transported 13 people to hospital. The ambulance service posted on X that two of the 13 people were airlifted. The Louisiana Lao New Year Festival organizers announced on Facebook that they were canceling Saturday night's concerts as well as the alcohol sales. The organizers posted on Facebook: "We're?deeply saddened" by the news about the?incident that occurred near the festival grounds. "We are pleading for the?victims and their families in this difficult time." This three-day festival, held every Easter weekend, includes live music and a parade as well as other activities celebrating the Lao new year. Noel Randewich reported from San Francisco, Sergio Non edited by Matthew Lewis and Matthew Lewis.
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Chelsea tries to turn the corner after Port Vale's 7-0 FA Cup defeat
Chelsea is hoping Saturday's 7-1 thrashing over Port Vale, in the FA Cup quarterfinals, will?draw a line under the dismal.run of form and the internal turmoil that threatened to?ruin their season. Chelsea's coach Liam Rosenior announced on Friday that Enzo Fernandez, the club's vice captain and record-breaking signing, would be suspended from playing for two matches after suggesting he may leave. Chelsea has been in a state of crisis ever since they were beaten 8-2 on aggregate by European champions Paris St Germain in the Champions League and suffered domestic league losses to?Newcastle United & Everton in a fraught 10-day period in March. The goal-fest on Saturday, despite being against Port Vale who are likely to be relegated into the fourth division of English football in the near future, at least brought smiles to Chelsea's fans and players. Rosenior said to reporters that "when you 'go through a difficult time, like we did during that 10-day period... you come out stronger, and you know what you want to fix," he explained. Rosenior said that the recent international break, and the big win on Saturday could help lift his mood after he had been thrown into a busy?schedule in January when Enzo Maresca unexpectedly left Stamford Bridge. Rosenior stated, "I have a group who believe as I do that we can still have an outstanding year in terms winning the FA Cup and qualifying for Champions League." Rosenior, when asked about Fernandez’s reaction to the suspension of his player, said that it was "brilliant", to see him in attendance at Saturday’s match. Next Sunday, in the Premier League, Chelsea will face a tougher test. They will host Manchester City in second place. Both teams will be chasing the table-toppers Arsenal. Fernandez is still absent. Chelsea hadn't scored a goal in more than 300 minutes in any competition before Saturday, but the Dutch defender Jorrel hato put them in front after Port Vale failed to clear a set-piece. Brazil striker Joao Peter misled his marker with an ingenious dummy, before making it to 2-0. The Blues went 3-0 ahead before the half when Port Vale’s Jordan Lawrence Gabriel deflected Cole Palmer's shot into his own goal. Tosin Adarabioyo, Andrey Santos and Tosin Adarabioyo scored goals with their heads in the eighth minute. Brazil's Estevao then reacted quickly to an Alejandro Garnacho effort that had hit the post. The rout was halted by a late Garnacho penalty. Port Vale's fans, despite the fact that they failed to score a single goal in the game, took over Stamford Bridge's Shed End. (Writing and editing by Andrew Cawthorne; William Schomberg)
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Kenya fuel executives resign as state probes supply chain irregularities
The office of President William Ruto announced on Saturday that senior executives in Kenya's Energy Sector resigned after being accused of manipulating fuel stock data and procuring a 'emergency cargo' at inflated prices. Ruto accepted Mohamed Liban's resignation as principal secretary for Petroleum. The Kenya Pipeline Company also confirmed that Joe Sang had resigned from his position as managing director. According to the?statement, Daniel Kiptoo Bargoria has also resigned as director general of the Energy and Petroleum Regulatory Authority. It said that a formal investigation was launched into alleged irregularities within?Kenya’s petroleum supply chain. The government claimed that the manipulated data had been used to 'justify' the importation of fuel despite existing contracts with Saudi Aramco Trading Fujairah Ltd., Abu Dhabi’s ADNOC Global Trading Ltd. and Emirates National Oil Company Singapore Ltd. All of these companies are fulfilling their contractual obligations. The emergency shipment, it claimed, was overpriced and of poor quality. It also claimed that the rates were significantly higher than what had been agreed in existing agreements. The statement stated that "this appears to have been done in order to exploit rising global prices and public anxieties, thus creating a false impression of an impending shortage." Fuel?supply issues linked to the Iran conflict have affected the global energy market. The statement stated that administrative action was taken against other officials, and?arrests were made by investigative agencies'. The arrestees were not identified. No charges have been filed. Reporting by Humphrey Malolo; Writing by Isaac Anyaogu; Editing by Bate and Ali Williams.
Evergrande's debt has reached a point of default and delisting.
China Evergrande Group delisted from Hong Kong's stock exchange Monday. It was one of the biggest removals in terms of market value and volume.
Evergrande, once China's largest developer, faced a financial crisis in 2021. The developer, along with a number of its competitors, has defaulted on their debt obligations due to slowing sales and decreasing fundraising options.
This timeline shows how the debt crisis has developed at Evergrande - the world's largest developer.
AUGUST, 2021
Evergrande has halted construction on many projects in the country due to unpaid payments.
China's central banking and banking watchdog summons senior executives to issue a rare warning: Evergrande should reduce its debt risk and put stability first.
SEPTEMBER, 2021
Two offshore bond coupons totaling $131 million were not paid. Payments have a grace of 30 days.
Evergrande hires financial advisors to explore options and warns of the cross-default risk amid plummeting property sales.
NOVEMBER, 2021
Hui Ka Yan, Evergrande's founder, sells 1.2 million shares for HK$2,68 billion ($343 millions), reducing his stake from 77% to 67.9%.
MARCH, 2022
Evergrande has suspended trading of its shares citing the inability of its property management arm to produce audited results by March 31. The investigation also revealed that banks had seized deposits worth $1.87 billion ($13.4 billion) from its property management division.
NOVEMBER, 2022
China Construction Bank Asia seizes the mansion of Evergrande's founder, located in Hong Kong’s exclusive The Peak residential area.
JANUARY, 2023
Evergrande says its then auditor PricewaterhouseCoopers resigned over disagreements over matters related to its 2021 accounts.
FEBRUARY, 2023
A committee of independent experts has found that Evergrande directors have fallen "below standard" for their involvement in the diversion of loans from unit Evergrande Property Services back to group.
MARCH, 2023
Evergrande announces plans to restructure its offshore debt, giving creditors the option of swapping their debt for new bonds or equity-linked instruments that are backed by both Evergrande and two Hong Kong listed companies.
APRIL, 2023
Evergrande reports that 77% of holders of Class-A Debts and 30% holders of Class-C Debts have expressed their support for Evergrande's restructuring proposal.
JULY, 2023
Evergrande posted net losses of 476 bn yuan, and 105.9 bn yuan, for 2021, and 2022, respectively, as opposed to a profit in 2020, when its operation was normal.
AUGUST, 2023
Evergrande reported a 33 billion-yuan (66,4 billion-yuan) loss from January to June, compared with a loss of 66.4 billion-yuan a year ago.
Evergrande shares are traded again after 17 months. 79% of the market value has been lost since they were last traded.
SEPTEMBER, 2023
China's National Administration of Financial Regulation has approved the establishment of a state owned insurer that will take over Evergrande Life Insurance. Evergrande Life Insurance is a 50% invested company.
The police in southern China have arrested some employees of Evergrande Financial Wealth Management (an indirect wholly-owned subsidiary of Evergrande).
Evergrande postpones the scheme meeting originally scheduled for September 25-26. The company cites the need to reassess restructuration terms.
Evergrande has said that it is unable to meet the qualifications for issuance of new notes, as its flagship unit onshore Hengda Real Estate Group is under investigation by regulatory authorities for a suspected violation of disclosure of information.
Evergrande claims that the founder of Evergrande is under investigation for suspected crimes.
OCTOBER, 2023
Hong Kong High Court grants Evergrande five weeks to revise and present a concrete debt restructuring plan in order to avoid liquidation.
NOVEMBER, 2023
Evergrande revises its debt restructuring proposal at the last minute to creditors offshore before the hearing.
DECEMBER, 2023
Evergrande receives another adjournment by the Hong Kong court. This gives it more time for finalising a revised offshore debt restructuring plan.
Evergrande's Ad hoc Bondholder Group says that it is strongly opposed to the revised restructuring terms.
January, 2024
Evergrande’s New Energy Vehicle Unit Group says that its vice chairman Liu Yongzhuo has been arrested and is being investigated for criminal charges.
Evergrande Property Services has announced that its units have filed a lawsuit against Evergrande in order to recover the 11.4 billion yuan pledged guarantees on deposit certificates.
Evergrande’s ad-hoc bondholders group joins liquidation petition against developer.
A Hong Kong court issues a liquidation notice to Evergrande at an hearing on Jan 29, 2019. The trading of its shares is suspended.
March, 2024
China fines Evergrande’s flagship onshore unit 4,18 billion yuan, the company’s chairman 47 million and bans him from the securities markets for life for illegal bond issuance.
Evergrande liquidators start legal action against the chairman, his former wife and former executives in order to recover approximately $6 billion.
August, 2025
Hong Kong Stock Exchange cancels Evergrande's listing effective August 25 as the shares have not resumed trading after 18-month suspension.
Evergrande liquidators claim to have sold assets worth $255 million 18 months after the company's liquidation, but they've received claims from creditors totalling $45 Billion.
(source: Reuters)