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Brunei enables China-made jets to boost COMAC
Brunei is the latest country that allows its airlines to use Chinese-made planes, according to new regulations published by Brunei’s aviation regulator on Thursday. This comes as a major boost to Shanghai-based COMAC. Brunei may be a small country, but Beijing is watching closely each aircraft made in China that is exported abroad. Beijing is looking for international acceptance as the aerospace industry struggles to meet the demand for new planes at a time where it is also caught up in the global trade conflict. State-owned COMAC wants to compete with dominant planemakers Airbus and Boeing, but it lacks key certifications by Western regulators. The company also hasn't secured an order outside China from a major airline. Beijing, to show that its planes were in use, has placed C909s on airlines in Cambodia, Laos and Vietnam. GallopAir is a Brunei based start-up carrier that has ordered C909s and has Chinese investment backing. It ordered 15 C909s in 2023 and 15 narrow-body C919s, COMAC's newer, larger model. This was the first C919 purchase by a non Chinese airline. The Department of Civil Aviation in Brunei (DCA), previously, would only accept planes with design certifications from U.S. regulators or those of Canada, Europe, and Brazil. This included aircraft manufactured by Boeing, Airbus, and Embraer. The amendment published by the aviation body on Thursday added the Civil Aviation Authority of China, a regulator to its list. Documents from the Civil Aviation Authority of Vietnam show that in April Vietnam added CAAC on its list of approved aviation regulatory bodies. COMAC CEO Cham Chi stated that the company has not yet delivered any aircraft to GallopAir. It is also unclear when it will make its first delivery. In 2016, the C909 jet engine-powered aircraft, with up to 90 seats was China's very first commercially produced plane. COMAC launched the C919 in order to compete with the Airbus A320neo, Boeing 737 MAX and other popular narrow-body aircraft. Currently, the C919 is only used by Chinese Airlines. According to filings by the three airlines who fly this model, COMAC is behind schedule in delivering its C919 narrow-body commercial plane. (Reporting and editing by Thomas Derpinghaus, Tomaszjanowski and Lisa Barrington)
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Britain and Vietnam upgrade their ties after Communist leader visits London
According to an official who has direct knowledge, the British government is planning to improve diplomatic relations with Vietnam in the coming week when Prime Minister Keir starmer meets with To Lam of the Communist Party. The official, who spoke on condition of anonymity said that the relationship would be upgraded to the highest level of strategic partnership in Vietnam, which is comparable with those between Vietnam and China, Russia, United States, and the former colonial power France. The schedule prepared by Vietnamese authorities indicates that Starmer will meet Lam on Downing Street Wednesday for an exchange of cooperation documents and a joint announcement on the upgrade. The plans for a meeting will be confirmed once the King Charles' visit is confirmed. The Vietnamese foreign ministry has not responded to a comment request. Starmer's Office declined to comment. Since Lam became the party chief in 2013, he has played a major role in shaping Vietnam's foreign policy, a task previously handled by the prime minister and president. The schedule does NOT identify the agreements of cooperation to be signed. The agenda indicated that Lam would visit Oxford University for the signing on Thursday of agreements on education and health. In order to move beyond the current level, a strategic comprehensive partnership usually involves more frequent meetings, and closer ties in areas of shared interest. According to a second person who had direct knowledge, commercial agreements in the aviation industry were also expected. Both sources requested anonymity because they were not authorized to speak to media. Lam is currently in Europe. He has visited Finland, Bulgaria and other countries. Reporting by Phuong ngiyen in Hanoi and Francesco Guarascio, London; Additional reporting by Kate Holton; Editing Clarence Fernandez
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Former White House aide who speaks Mandarin named Boeing China President
Boeing named Landon Loomis as its new president for Boeing China on Thursday. The company believes that Loomis, a fluent Mandarin speaker who was formerly a White House advisor, can stabilize the China market at a time when the U.S. is threatening to cut off the export of parts to Chinese airlines. Loomis will continue to hold his title as Boeing Vice President of Global Policy, and run the day-to-day operation, strategy, and high-level government relationships from the Beijing office. Boeing is increasingly being used as a bargaining tool in the current trade war between Washington and Beijing. China temporarily stopped accepting new Boeing planes in this year, before quietly restarting deliveries. U.S. president Donald Trump warned this month that spare part exports may be next. Brendan Nelson said that Landon was the perfect leader for Boeing China. His deep industry and government expertise, coupled with his years of living in and working in China will further strengthen our partnerships and presence. Boeing wants to sell up to 500 planes to Chinese airlines. This deal could be a major boost for the struggling planemaker, but it depends on Washington and Beijing's ability to resolve their trade dispute. Airbus opened its second A320neo production line in Tianjin on Wednesday. Boeing is fighting to maintain its market share. (Reporting from Sophie Yu in Beijing and Jamie Freed, in Sydney; editing by Kate Mayberry).
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DSV, a freight company, trims its outlook and flags the persistent market uncertainty
Danish freight company DSV posted slightly higher profits than expected for the third quarter, but cut its outlook for the full year. The company cited a significant impact of foreign exchange rates and softening demand in an uncertain market. Since U.S. president Donald Trump imposed new tariffs earlier this year, European shipping and logistic firms have been under pressure because of falling freight rates and weaker demands. DSV now expects operating profit for 2025 to be between 19.5 and 20.5 billion Danish crowns (3.05 billion-$3.20billion), down from the previous range of 19.5 to 21.5 billion crowns. Michael Ebbe, Chief Financial Officer of the company, said that "demand is softening and the market has become more challenging". He said: "But it's mainly that we also have some foreign currency rate impact. This is a significant headwind, that we have." DSV stated in a press release that it will continue to monitor the activity levels within its organization and adjust its capacity and cost base as needed. The largest logistics company in the world posted an operating profit of 5.43 billion Danish crowns for the third quarter, slightly higher than what 17 analysts had predicted.
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Kuehne+Nagel will cut between 1,000-1,500 positions after Q3 profits slump
Swiss logistics group Kuehne+Nagel reported on Thursday a 34% decline in its third quarter operating profit. It also announced a cost-cutting program, which included job cuts, in order to combat margin pressures as well as overcapacity. The company's third-quarter earnings, before interest and tax, fell from 455 million Swiss Francs to 285 million Swiss Francs (359 million dollars) compared to a year ago. The company cited currency exchange effects as well as a dramatic drop in the volume of transport to the U.S. after President Donald Trump announced "Liberation Day tariffs". K+N said it aimed to reduce costs by over 200 million francs in order to deal with the difficult market conditions. This will be achieved through measures like greater automation and shared service centers. A spokesperson for the company said that between 1,000 and 1,500 positions at full time will be eliminated as part of this program. K+N has a total of 85,000 employees. Transport and logistics operator K+N also reduced its operating profit forecast for the second consecutive year. The company now expects to make 1.3 billion Swiss francs by 2025. Previously, it had forecasted a profit between 1.45 billion and 1.65 billion Swiss francs. Separately investment firm Partners Group announced that it has agreed to sell its 24,9% stake in Apex Logistics - an integrated global logistic solutions provider - to K+N, which already owns the majority of the company. Apex now has a value of over $4 billion.
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Bloomberg News reports that Wizz Air, Hungary's national airline, is looking to delay the delivery of 100 Airbus aircraft.
Bloomberg News reported Thursday that Wizz Air, a Hungary-based airline, is in discussions to delay the delivery of about 100 Airbus SE planes into the next decade. The report was cited by people familiar with this matter. Report said that the aircraft was originally scheduled to be delivered between now and 2030. Wizz Air and Airbus didn't immediately respond to requests for comments. Could not verify the report immediately. Wizz has been struggling to compete with other European airlines financially in recent years due to the engine problems that have caused its Airbus aircrafts. Due to the cancellations, the airline's first-quarter profits were below expectations in July. The airline's shares are down over 20% this year. Wizz's CEO said in September that it is working with Pratt & Whitney (owned by RTX Corp) to expedite the engine servicing as delays have caused significant parts of its fleet to be grounded. The company's CFO Ian Malin stated earlier this month that the carrier aimed at ending engine-related grounded Airbus aircrafts by the end 2027. CEO Jozsef Varradi, however, said it was up engine manufacturer Pratt & Whitney, to determine the schedule. The carrier has warned twice about its profitability after the groundings. (Reporting and editing by Mrigank Dahniwala in Bengaluru. Bipasha dey is based in Bengaluru.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. CARREFOUR: Carrefour, the European food retailer, reported a third-quarter sales group of 22.6 billion Euros while maintaining its financial goals for 2025? EXAIL TECHNOLOGIES : French underwater drone manufacturer Exail Technologies has reported a 18% increase in revenue for the third quarter, to 105 millions euros. This was driven by a strong demand for drone technology used by military forces. ID LOGISTICS The logistics company ID Logistics has reported revenues of 2.70 billion Euros for the nine-month period. KERING: Kering, the luxury group, reported a third-quarter profit of 3,42 billion euros. The group's overall sales were down 5% on an like-for-like comparison. This was higher than market expectations. MICHELIN: The French tyre manufacturer Michelin reported that its third-quarter sales fell 6.6% to 6.25 billion euro, which was below expectations. It cited a worse than expected business environment in North America. Verallia has revised its outlook for 2025. The company now expects adjusted EBITDA to be around 700 million euro. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... survey of world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report..... (Gdansk Newsroom)
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Maguire: Solar and batteries can help Central Europe reduce its dependence on fossil fuels
Central Europe, a region not known for its sunshine, is proving to be a leader in the global energy transition through clever use of local battery energy storage systems and solar parks. As part of their efforts to increase the domestic energy supply, several major Central European economies, including Austria, Hungary and Romania, have increased dramatically since 2022 the share of electricity produced by solar farms. This rapid growth in solar power has enabled steep reductions in the amount of fossil fuels used to generate electricity, with the percentage falling to new lows in the entire region in 2025. The use of grid-scale batteries, which are largely manufactured locally and are a result of policies to support local jobs, is also boosting the surge in solar power. Combining solar power and battery technology, Central Europe is able to defy the expectations that it would be a region tied to fossil fuels and become a leader of regional energy transition. STAR POWER Austria and Hungary are the two nations in Central Europe that have been most influential in boosting solar energy and reducing fossil fuel dependence. Both economies are expected to be heavily dependent on Russian exports of energy after the Russian invasion of Ukraine 2022 due to a lack of other options for imports. Austria, which used to rely on Russia for 90% of its gas supply, has been able to reduce its direct Russian imports dramatically since 2022 and has met most of its needs in 2025 by sourcing gas from Slovakia. While Hungary has continued to buy Russian oil and natural gas, even though the European Union has reduced Russian imports, Hungary’s electricity system has decreased its reliance on gas from more than 25% before 2022 to less than 20% while increasing solar production. In fact, Austria and Hungary generate more electricity from solar farms now than fossil fuels. This is a dramatic change from only two years ago, when fossil fuels accounted for the majority of electricity. According to Ember, Austria's energy think-tank, data shows that by 2025, solar farms will generate around 17% and fossil fuel plants 10% of the electricity. This compares with a solar share of 6% and a fossil fuel share of roughly 19% in 2022. Around 33% of Hungary's electricity will be supplied by solar farms in 2025, while around 22% will come from fossil fuel plants. This compares with a solar share of 14% and a fossil fuel share of 35% in 2022. WIDER TREND In recent years, Romania, Poland and Slovakia have all increased their solar energy production while simultaneously reducing the use of fossil fuels. Solar energy is growing much faster than fossil fuels and will likely overtake fossil fuels in the next few years. Solar capacity has risen dramatically in the region since 2019. Ember data show that the cumulative solar generation capacity of Austria, Hungary and Romania, as well as Poland, has increased by 460% from 2019 to 2024. This is a jump from 8 gigawatts in 2019. This growth rate compares with a 145% increase in Europe's overall solar generation capacity during the same time period. It indicates that Central Europe has grown roughly three times faster than the European average. Charge up The rapid growth of the production and usage of battery energy systems (BESS) has been a key factor in Central Europe's solar adoption. According to local utility filings, the battery energy storage capacity in Austria, Hungary, and Romania has increased by 472% between 2022 and 2025. After large investments across Europe in upgrading the electricity grid, the BESS capacity is expected to increase over the next decade. Project filings across Central Europe suggest that energy capacity for BESS installations could increase by more than tenfold in 2030, as each major power grid increases both its solar and storage capacities. These increases in clean energy supply are likely to allow Central Europe to maintain its momentum as an important global energy transition engine. 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 analysis. 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.
Thales achieves 9% sales and order growth in the 9-month period, but still meets targets
Thales, the aerospace group, reaffirmed its financial targets Thursday after posting higher-than-expected revenues and orders for the nine months. The company's revenue and orders were boosted by increased defence spending and demand in avionics.
The largest European defence electronics company reported that revenues increased 9.1%, on a comparable basis, to 15,26 billion euros ($17.80billion), with Defence, its largest division, increasing by 13.9%.
On a comparable base, the new orders received increased by 9% to 16,76 billion euros.
According to a consensus compiled by the company, analysts expected sales of 15,13 billion euros for nine months and orders of 15,72 billion.
In addition to the new orders, the company signed a contract with SpaceRISE satellite operators for the provision of systems for the future European constellation IRIS2.
CFO Pascal Bouchiat welcomed "the first key step" toward implementing the European Union’s secure communication constellation, but warned about competitive pressures on space.
It's obvious that the space telecoms industry is still under pressure. "The fact that we have this first contract for IRIS2 does not take away from the challenges that European industry is facing in particular," he said to reporters.
Thales reported that revenues from its Space business increased in line with expectations for the first nine-month period of 2025. Thales said that it expects a "low single-digit growth" for the year. This is significantly lower than Defence and Aerospace.
The Cyber & Digital Segment saw a drop of 3.8% in sales, mainly due to the merger of Thales' sales teams with Imperva's cybersecurity firm that it acquired in 2023.
(source: Reuters)