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Ryanair may not return in Israel
Michael O'Leary, the Group Chief executive of Ryanair, said that the airline may not return to Israel once the violence associated with the Gaza War recedes. He also claimed that airport authorities in Israel "muck around" with the airline. O'Leary, speaking to journalists in Dublin, said: "I believe there's a very real possibility we will not bother going back... once the current violence recedes." The airline announced earlier this summer that it would not be returning to Israel before October 25, at the latest. O'Leary stated that Ryanair is unhappy that Tel Aviv's Ben Gurion Airport charges a higher rate to use the main terminal, when the lower-cost terminal has been closed due to security concerns. He said, "Until the Israelis get their act together, and stop messing with us, frankly, there is more growth in Europe." (Written by Conor Humphries, edited by Sharon Singleton & Emelia Sithole Matarise).
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Maguire: China's rare reduction in power pollution is offset by increased US emissions
Some people have said that it's pointless for other countries to reduce their pollution, while China continues to build new coal plants and raise its own emissions. The Chinese power sector has so far managed to achieve a rare reduction in pollution due to the use of fossil-fuels. This bodes well for those who track climate change and hope that China's massive pollution trends will soon peak. The cuts in China were more than offset by the sharply increased emissions from power plants in America, where coal-fired electric generation in 2025 has reached a three-year-high. Even if China's emissions drop, global pollution in the power sector will continue to rise this year due to the higher pollution load coming from America. The U.S. offset for pollution also negates the argument it's pointless to reduce pollution when China's emissions are increasing, and shows that other countries could be closer to capping the power sector discharge of the world if they follow China's example. COAL CUTS Data from the energy think tank Ember show that between January and July 2024, China's carbon dioxide emissions from fossil fuels used in power generation fell by 30 million metric tonnes. This emission reduction represents a 1% drop from the previous year and follows two years of pollution increases in China between January and July. China's fossil fuel power emissions have grown for nine years in a row. A modest reduction in emissions in 2025 will be a milestone in China’s efforts to reduce pollution. The total power emissions due to fossil fuels were 3,24 billion tons CO2 from January to July 2024, down from 3,27 billion tons from January to July 2024. The first reduction in coal-fired electricity generation since 2022 has played a key role in the drop in emissions. This has also been made possible by an increase of 14% in clean electricity production year-over-year. The total clean electricity produced during the window of January to July was 2,445 Terawatt Hours (TWh), approximately 303 TWh higher than the amount generated in the same months last. The electricity generated by coal-fired plants, which remain China's primary power source, was 3,277 tWh from January to July. This is a decrease of around 30 tWh or about 1% compared with the same months in 2020. The generation of electricity in China from gas-fired power plants was also down around 1% compared to a year earlier. US POWERING UPS While China's power sector reduced coal consumption this year, U.S. energy firms increased it. Coal-fired electricity supply grew by 16% between January and July 2024 compared to the same period in 2019. The total coal-fired electric supply in the United States was 435 TWh from January to July. This is up from 375 tWh one year earlier and represents the highest level since 2022. The increase in CO2 emissions from the spike in coal consumption was 37 million tons more than in the same months of last year. The total U.S. emissions of fossil fuels from the power sector during January-July were 978 millions tons of CO2, compared to 941 millions tons in 2024. The increase in the coal share in the U.S. generation mix, from under 15% to almost 17% in 2025. This increase in coal consumption was driven primarily by the rise in natural gas prices during the first months of the new year. Gas prices are expected to be 65% higher in the first half of 2025 than they were in the same period last year. In order to compensate for lower gas supplies, the power companies burned coal, which was cheaper, but had higher emissions. This caused the pollution surge. CLEANING UP In addition to the higher output of coal, U.S. utilities generated 30% more solar power from January to July than a year ago, as well as 3% more hydro and wind-powered energy. The total U.S. generation of clean electricity from January to July increased by 6%, reaching a record high of 1,155 TWh. The share of clean power in the U.S. electric generation mix increased to a record 44 % from January to July. This is up from a little under 43 % the previous year. U.S. utilities still rely heavily on fossil fuels to produce the majority of their electricity, despite the fact that total electricity demand is at its highest level in decades. Many utilities will continue to use coal in their generation mix to reduce costs, as thermal coal is still around 20% cheaper than natural gas. It is possible that U.S. emission levels will continue to rise, pushing global pollution to new heights even if China can manage to limit its fossil fuel consumption for the remainder of the year. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and information. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Bousso: Europe is at risk of falling victim to US "energy dominance"
It might seem audacious to the world's biggest natural gas producer that it demands its largest market stop purchasing from a rival. This is exactly what happened this week in Milan at the annual meeting of the global gas industry. U.S. Interior Secretary Doug Burgum delivered a clear message at the beginning of the Gastech Conference. Doug Burgum, the Interior Secretary of the United States, delivered a message that was clear: Europe should cease purchasing gas from Russia. The United States will gladly replace it. Burgum said that American energy dominance is a key part of Donald Trump's agenda in his second term. It aims to bring peace and prosperity around the world. Burgum, the former governor of North Dakota's oil-rich state, said: "We can achieve peace around the globe by selling our energy to friends and allies so they don't need to purchase from our enemies." Washington has been increasing pressure on Europe to stop buying Russian oil and gas in order to squeeze the Kremlin war economy. It also wants to put pressure on Vladimir Putin, President of Ukraine to accept a ceasefire. "ENERGY DOMINANCE" Europe has drastically reduced its Russian gas imports since Moscow invaded Ukraine in 2022. It aims to completely phase out Russian gas purchases by 2027 if not sooner. Despite this, the region continues to import Russian gas via the Turkstream pipeline. Importantly, Europe may have just swapped one dependence for another. Most of the Russian pipeline volumes in the region have been replaced with LNG imports, and most of these have come from the United States. The first half of 2025 will see Europe's imports of LNG increase by 25% over the previous year to a record high of 92 bcm. Over 55% of these imports were accounted for by the United States, with Russia coming in second at 14%. In light of this new reality, Europe is forced to accept the energy agenda of the Trump administration. Ditte Jorgensen, Director General of Energy at the European Commission, told a conference that the EU will continue to enhance its energy partnership with America. She said that the U.S. energy dominance policy is complementary to her strategy of replacing Russian oil in her system. These words are already being translated into action. On Monday, Italy's energy company Edison and Shell signed a deal to increase LNG purchases, among other things, as part of a commitment to strengthen their energy relations. On Wednesday, Italy's Edison energy company signed a contract with Shell for the purchase of around 0.7 millions tonnes per year in U.S. gas starting in 2028. The deal could last up to 15-years. Some EU countries, namely Hungary and Slovakia, are opposed to this U.S. pivot. Both countries rely heavily on Russian gas and oil, and so both voted against the ban on imports earlier this year. Peter Szijjarto, Hungary's foreign minister, said that Hungary "cannot walk out of Russian gas" due to geographical and infrastructure limitations. Actions speak louder than mere words. MVM CEEnergy, a Hungarian wholesaler of natural gas, signed a 10-year contract with Shell on February 2nd. Shell will supply 200 million cubic meters (mcms) of gas per year starting in January 2026. This deal is aimed at reducing the country's dependence on Russia. Overall, Europe seems to be doing exactly what Burgum asks for. EXTREME DEPENDENCE The energy dependency of Europe is expected to be at its highest level ever in the near future. By replacing Russian LNG with U.S. LNG, America's share in EU LNG imports would rise to about 70%. The share could be increased to more than 80% if the 16 bcm additional gas imported via the Turkstream pipe is also replaced. Calculations show that this would be equivalent to 23% of the total imports when you include pipeline imports from Norway and Azerbaijan, as well as North Africa. By comparison, Russia supplied around 40% of Europe’s total gas imports by 2022. Although reliance on U.S. Energy carries less risk politically, this extreme dependency exposes Europe nonetheless to potentially serious disruptions. For example, a sudden drop of exports from U.S. Gulf Coast because of hurricanes or heatwaves. Washington's chaotic policymaking since January has shown that there can be political risk among allies. Burgum stated that the U.S. policy of energy dominance is aligned fully with Europe's desire to stop its dependence on Russia. This seems to be the case for now. Who knows how long the energy and security objectives of these allies will be in harmony. The EU should hope that it will be a long time as its over-reliance on energy will leave little room for manoeuvre. You like this column? Open Interest (ROI) is your essential source for global commentary on financial markets. ROI provides data-driven, thought-provoking analysis. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X.
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Poland announces that the UN Security Council will convene to discuss drone incursions
Poland announced on Thursday that the U.N. Security Council would hold an emergency session to discuss drone incursions in its airspace, which its President characterized as an attempt by Russia test Warsaw's and NATO's reaction. After shooting down a Russian drone that it claimed violated its airspace, Poland has also banned drone flight along its eastern border with Belarus and Ukraine and restricted small air traffic in the area. Poland's NATO allies supported it in its efforts to shoot down the drones. This was the first time that a member state of the alliance had fired a shot during Russia's conflict in Ukraine. Russia has said that it did not intend to strike any targets in Poland and will make no further comments about the incident. Senior NATO commanders said that it is not known if the drone intrusion was intentional. The incident has sparked concerns about NATO's readiness to respond to drone attacks. It has also fueled tensions with Russia, prompted Western leaders to call for new sanctions to be imposed against Moscow, and led some to question the commitment of Moscow to peace efforts in Ukraine. The Polish President Karol Nawarocki addressed soldiers on Thursday. "This Russian provocation, as our generals and soldiers are well aware of, was nothing but an attempt to test (our) capabilities, our capability to respond in Poland." It was an attempt to provoke a response, test the mechanisms of action within North Atlantic Alliance, and our readiness to react. The Polish Foreign Ministry said that the United Nations Security Council will meet upon Warsaw's request but did not specify when. Diplomats reported on Wednesday that the UN didn't immediately comment on this, but Slovenian, Danish, Greece, France, and Britain had asked for a meeting of the Security Council on Friday. Radoslaw Skorski, Foreign Minister, said: "We (are) drawing world attention to this unprecedented Russian attack on a NATO, EU and UN member." Officials said that on Tuesday and Wednesday night, F-16s from Poland, F-35s from the Netherlands, Italian AWACS surveillance aircraft, and NATO mid-air refuelling planes were scrambled to take down drones flying in Polish airspace. SOME AIR TRAFFIC IS RESTRICTED On Wednesday, the Polish Prime Minister Donald Tusk stated that it was "the nearest we have come to an open conflict since World War Two." He also stated that he has "no reason" to believe we are on the verge of war. Tusk described the incident as a "large scale provocation" and claimed he activated Article 4 in NATO's Treaty, which allows alliance members to demand consultations with allies. The U.S. president Donald Trump spoke with Nawrocki Wednesday and both leaders expressed their unity. The incident, which occurred in Ukraine, has prompted a collective reaction from European leaders who are trying to convince Trump to tighten sanctions against Russia. Poland and NATO have not yet provided a complete account of the suspected actions of the drones. Polish air traffic officials said that the restrictions on air traffic along Poland's borders with Ukraine and Belarus came into effect Wednesday at 2200 GMT and will last until December 9. General aviation, which includes small recreational aircraft, and helicopters, can fly during the day if they are equipped with a transponder and radio, but not at night. It said that flights will only be allowed up to about 3 km (1.86 mile) above the ground. Commercial flights typically fly over 3 km. Drones and other unmanned civil aircraft are prohibited. Only identifiable civilian aircraft and military flights following a flight schedule are permitted. Nawrocki, who had just visited a Polish military base, was scheduled to meet with the National Security Council of Poland, which provides him with advice on threats to security. Tusk said to the air force pilots stationed at the base, "We will ensure that our allies fulfill the allied obligations, which we consider so important today." Tusk told the Polish air force pilots at the base: "We will do everything to ensure that our allies fulfill their allied commitments, which are so important from our point of view today."
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South Korean groups purchase about 130,000 tons corn, traders claim
Major Feedmill Group and Cargill Agri Purina, both South Korean buyers, purchased approximately 130,000 metric tonnes of animal feed corn at an international auction on Thursday. MFG is believed to have bought about 63,000 tonnes at a cost and freight estimate of $232.10 per ton plus an additional $1.25 for port unloading. Trading house Agrex was thought to be the seller. Origin was not mandatory, but it was expected that the product would be sourced either from South America or South Africa and arrive in South Korea by January 5. Traders said that MFG and its member Cargill Agri Purina had both sought out offers. Cargill Agri Purina is believed to have bought another 67,000 tonnes at an estimated $245.41 per ton c&f, and also a premium 204.4 U.S. Cents per bushel c&f compared to the Chicago December corn contracts. Both are subject to a $1.25 surcharge per ton for port de-loading. It was thought that the seller is CJ International. Corn arrived in South Korea in January. The reports reflect the opinions of traders, and it is possible to estimate prices and volume later. (Reporting and editing by David Goodman.)
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E20 fuel safe but curbs vehicle performance, Mahindra executive says
An executive from Mahindra & Mahindra, the Indian SUV manufacturer, said that fuel blended with 20% ethanol was safe for use. However, he warned that vehicle mileage and acceleration could be reduced. E20 is now the only fuel available at 90,000 petrol stations in India. This has led to some motorists complaining about its impact on older cars. Nalinikanth GOLLAGNTA, the CEO of Mahindra's automotive division, told an industry conference that Mahindra was drafting a customer advisory for E20 blended fuel. It should be available next week. Concerned motorists have taken to social media to express their concern about the confusing statements made by carmakers regarding how E20 affects fuel efficiency and vehicle performance. Initially, carmakers said that E20 fuel was not tested to ensure compatibility with older cars. However, they later retracted their statement and stated it is safe for use. The Indian government claims that the concerns are unfounded, and E20 is only solution. The government of India says it is "simple" to replace rubber parts and gaskets on older vehicles. Nitin Gaddari, India's minister of road transport, said earlier on Thursday that social media campaigns against E20 are "politically-motivated."
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Floods and road closures have caused severe losses to apple growers in Indian Kashmir
Farmers and industry officials in Indian Kashmir say that apple growers are facing huge losses as floods and road closures disrupted the peak harvest period, leaving growers and trucks in uncertainty. Landslides have closed the National Highway linking Jammu to Srinagar since August 26, a vital route for transporting apples out of this region. Heavy rains caused sudden flooding that led to the deaths of dozens by mid-August. The Kashmir Valley Fruit Growers and Dealers Union chairman, Bashir Ahmad Basheer said that if the situation continues, our entire sector will suffer and collapse. He added that the disruptions in traffic increased costs and exacerbated the crisis. The packaging costs for a carton containing apples have increased from 40 rupees to 200 rupees. The apple industry in India is mainly concentrated in the Himalayan regions of Kashmir and Himachal Pradesh. Most of the apples are consumed locally. Exports are less than 2%, mostly to Bangladesh and Nepal. In South Kashmir, rivers swollen with water overflowed their banks and inundated orchards, leaving behind uprooted fruit trees and rotting fruits. Mughal Road is now the only operational route to Kashmir, and the back-up route of the national highway, but it has become unreliable. The Indian Railways provided some relief to growers on Thursday. They plan to launch a daily parcel service from Badgam, in the Kashmir Valley, to Adarsh Nagar Station in Delhi from September 13, with two carriages for apples. As their goods deteriorate, truckers stranded in traffic are becoming increasingly depressed. Abid Ahmad Lones, who had been stuck for 12 consecutive days, said, "I have no idea what to do with the apples or who is to blame." His truckload of apples rotted and he estimated a loss of one million rupees. Some truckers, stuck on the highways for almost two weeks, shared the same sentiment. Meanwhile, growers who were able to deliver their products are still worried. Shahid Ahmad said, "My family's sole source of income is apple orchards. But the recent floods destroyed everything." He stood in front of trees splattered with mud, and a scattering bruised fruits scattered throughout his orchard, located at Pulwama. He said, "We used sell a box for apples at around 1,600 to 1,700 rupees." "Now, nobody wants to buy apples at any price." $1 = 88.0890 Indian Rupees (Written by Sethuraman N.R. in New Delhi, edited by Clarence Fernandez).
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Poland bans drone flight and limits small air traffic along the eastern border
After this week's drone incursions, Poland has banned drones and introduced restrictions that affect mostly small, noncommercial air traffic along the eastern border with Belarus and Ukraine. The restrictions are in effect until December 9 and do not impact passenger traffic. They were announced by the Polish Air Navigation Services Agency. PANSA stated that general aviation, which includes small aircraft, helicopters and recreational aircraft, may operate during daylight hours if they are equipped with a transponder and radio, but not at night. It said that flights will only be allowed up to about 3 km (1.86 mile) above the ground. Commercial flights typically fly over 3 km. Poland, backed by aircraft from NATO allies and Russian forces attacking Ukraine, shot down drones it claimed to be Russians Wednesday. New safety concerns have been raised by the incursion of drones. PANSA reported that "at the request of the Operational Command of the Branches of the Armed Forces... there will be air traffic restrictions in the eastern part of Poland under the form of the EP R129 restricted zone". The restriction level for passenger aircraft is FL095, which is a zone that extends from the ground up to about 3 km above. This zone can extend from 26 km to 46km inland depending on location. PANSA stated that the restriction allowed crewed aircraft to fly in the restricted area from sunrise until sunset, provided they were operating according to a flight plan and had transponders installed. They also maintained two-way communications with the air authorities. It said that the tightened rules allow military flights, as well as some special-purpose flights or call signs. According to a senior Russian diplomat in Poland, the drones were coming from Ukraine. The Russian Defence Ministry confirmed that its drones carried out an assault in western Ukraine but did not intend to strike any targets in Poland. (Reporting from Karol Badohal in Warsaw and Barbara Erling; Additional reporting and editing by Lisa Barrington and Timothy Heritage.
Newspaper reports suggest that Lufthansa's share of Italy's ITA could reach 90% by June.
The Corriere della sera reported that Lufthansa was working with Italy's Economy Ministry to increase its stakes in state airline ITA Airways by 90% by June 2026. Two sources who were familiar with the talks confirmed the report.
According to the newspaper, the German airline will pay an additional 325 million Euros ($379.89 Million) to increase its stake to 41% from the current level. This is in addition to the performance-related amount of 100 million Euros.
It added that a final decision should be expected in April or may.
Lufthansa has not commented on the report.
The airline group, which includes Austrian Airlines as well as Swiss subsidiaries, has the option to increase its stake in ITA by 90% next summer under its agreement with Rome.
Lufthansa's timetable is dependent on, amongst other things, how quickly Alitalia succeeds.
Since the beginning of this year, the airline has been part of the Lufthansa group. It contributed positively to the group's results for the first quarter. Reporting by Ilona wissenbach Writing by Miranda Murray Editing Madeline Chambers
(source: Reuters)