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EU warship sent to Somali coast following suspected pirate attack
Sources in maritime industry said that the European Union's anti-piracy force had deployed a warship off the coast of Somalia, after a suspected pirate band tried to target vessels in the area. Sources from the maritime industry said that armed assailants fired at a commercial oil tanker Monday off the coast of Mogadishu after they attempted to board it. This was the first incident of suspected Somali piratery of this kind since 2024. The attack, as well as other incidents, has raised concern for the shipping lanes through which vital energy and goods are shipped to global markets. This week, a speedboat approached a Seychelles flagged fishing vessel. Meanwhile, maritime security sources reported that an unidentified assailant had seized a separate Iranian-flagged boat. British maritime risk management company Vanguard stated that it was very likely the fishing boat had been used as a mothership to launch attacks. Operation ATALANTA is the EU's maritime mission. It said that it was "aware" of the situation, and has deployed a naval asset in the area. However, they declined to comment further, citing security concerns. Ambrey, a British maritime security firm, said that it was highly probable that a Somali Pirate Action Group has been at sea and operating more than 300 nautical mile offshore Somalia. "Those (commercial ships) approached matched known target profiles and Somali pirate capabilities." The Somali pirate gangs that operated in the Gulf of Aden, Indian Ocean and other areas have largely been inactive since years. Since the Houthi militia, which is affiliated with Iran, first attacked commercial ships in November 20,23, in solidarity with Palestinians in response to Israel's Gaza war, the threat posed by the Houthi has increased. While the Houthis agreed to a ceasefire on their attacks against U.S. linked shipping, many shipping firms remain hesitant about resuming journeys through these waters. (Reporting and editing by Alexandra Hudson; Reporting by Jonathan Saul)
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Snam, Italy's Snam, raises its guidance after a rise in profit for the nine-month period
Snam, the Italian gas grid operator, increased its profit guidance for 2025 on Wednesday following a 6.6% increase in core earnings over nine months. The adjusted earnings before taxes, depreciation, and amortization (EBITDA), came in at 2,23 billion euros ($2.6billion) for the period. This was slightly higher than the average estimate of 2,21 billion euros in a pool of analysts compiled by. Analysts had predicted that adjusted net income (excluding one-off items) would increase by 10% to 1.1 billion euro. The group's adjusted core earnings is now expected to be around 2.95 billion euro this year, compared with the previous guidance of 2,85 billion euro. Snam CEO Agostino Scornajenchi stated that "with (gas) storage being among the highest levels in Europe, and with strong liquefied gas inflows supported through the full operation of our (regasification) terminal fleet, we continue playing a pivotal part in guaranteeing the security of the country's supply." Germany's watchdog hasn't yet cleared the group's acquisition a minor stake in Open Grid Europe, creating uncertainty for Italian company. Snam stated that the deadline set forth in the purchase agreement was November 17. (1 euro = 0.8575 dollars) (Reporting and editing by Francesca Landini; Ros Russell, Cristina Carlevaro)
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Air Canada anticipates record labor costs and a record number of new aircraft in 2026
Air Canada executives said on Wednesday that the company will have to deal with increased labor costs in 2026 and a sluggish leisure travel market in the United States. The country's largest airline plans to add 35 new planes to its fleet. Canada's largest airline reported a lower third quarter profit late on Tuesday, as striking cabin crew forced thousands of cancelled flights and the waning demand of travel to and from the U.S. affected results. In early Wednesday trading, shares were down 2.9%. The airline stated that capacity in seat miles would increase by 0.75% compared to a year ago. The amount of leisure travel that crosses the border between Canada and America has decreased significantly in recent years. This is due to President Donald Trump's high tariffs on Canadian imports, which sparked widespread protests. Transatlantic travel revenues were flat quarterly on an annualized basis. Air Canada executives expect double-digit revenue growth for the entire company in the final three months of 2025. Air Canada CEO Mike Rousseau stated that the carrier expects to receive 35 new planes in 2026. This is the largest number of aircraft it has ever received in one year. The airline will also be retiring some older planes. Air Canada will be able to benefit from Canadian government efforts to diversify its trade away the U.S. by using new Boeing 787 wide body aircraft. Rousseau stated, "You know Canada diversifies trade around the globe and we believe we can play an important role." Air Canada also works on fleet changes that will enable its leisure carrier Rouge, to only operate Boeing 737 aircraft until the end of 2026. (Reporting from Allison Lampert, in Montreal, and Nandan Mandayam, in Bangalore; editing by Paul Simao).
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Trump calls for an end to filibustering as the longest shutdown in history drags on
The U.S. president Donald Trump again asked Republican senators on Wednesday to terminate the filibuster in an attempt to end the longest government shut down in history. This would be a radical departure from long-standing Senate traditions and make it easier to push through legislation by the majority. "We must open the country." We're going do it today by ending the filibuster," Trump said to the senators gathered in the White House for breakfast. "It is possible that you won't do it, and I will follow your wishes." "You're smart people and good friends but I think this is a terrible mistake," Trump said. It would be a terrible mistake. Actually, it's time." Filibustering is a Senate rule that requires 60 out of 100 senators to agree on a majority vote in order to pass legislation. The Senate is dominated by Republicans, with a majority of 53 to 47. In the House of Representatives the Republicans have a majority of 219 to 213. Trump has previously called for the elimination of the filibuster, but Republican legislators have been reluctant, partly because Democrats would cease to adhere to the rule once they gained a majority. Trump downplayed concerns about the Democrats taking power during the Wednesday meeting. He said that if Republicans can maintain power if the Senate does away with the filibuster and rams through legislation he believes is popular, they will do so by eliminating the filibuster. Trump said that the government shutdown is impacting on the stock market as well as airline companies and SNAP food assistance for low-income Americans. He blamed Republican defeats in Tuesday's elections in various parts of the country in part on the shutdown of the federal government, which he claimed had not affected Democrats as he believed it should. The shutdown has now lasted 36 days. This is a record, surpassing the 35-day mark set by Trump during his first term from 2017-2021. Reporting by Jeff Mason, Gram Slattery and Colleen Jenkins; editing by Chizu Nomiyama and Colleen Nomiyama
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Serbian President says Russia is seeking a partner for the US-sanctioned NIS Oil firm
Serbian President Aleksandar Vucic announced on Wednesday that Russia was seeking partners to help resolve the dispute with the United States regarding ownership of NIS, a Serbian oil company sanctioned by the United States. NIS, the company that operates Serbia's only refinery, is owned by Russia's Gazprom, 44.9%, and by Gazprom, 11.3%, with 29.9% by the Serbian Government. In January, the Office of Foreign Assets Control of the U.S. Treasury placed sanctions against Russia's oil industry. However, for NIS these sanctions were repeatedly delayed and came into force on October 8th. The banks have stopped processing NIS payment and Croatia's JANAF pipeline has stopped delivering crude to NIS. Vucic made the remarks in an interview with the pro-government Informer TV. He said without giving any details: "I think that we can resolve this together with our American friends and our Russian friends, which will be a great relief for our nation." Vucic said that he would have "important meetings" in the coming two days with officials from the European Union (EU) and Russia to discuss the fate NIS. Dubravka Handanovic, Serbia's Energy Minister, said that the NIS refinery, which is capable of producing 4.8 million tonnes of crude oil annually and meets most of Serbian needs, would be able operate without any new supplies until November 25, 2009. The refinery can be found in Pancevo, just outside of the capital Belgrade. (Reporting and editing by Joe Bavier, Conor Humphrey and Aleksandar Vasovic)
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Belgium scrambles for solutions to airport closures due to drones
After drone sightings on Tuesday night forced the closure of airports, a military base and an airbase, the Belgian government called for an emergency meeting with key ministers. Drones are causing major disruption Europe In recent months, airports have been forced to temporarily close in several countries. Several officials have attributed the incidents to "hybrid war" by Russia. Moscow denies any involvement in the incidents. Skeyes, the Belgian air navigation company, said that Brussels airport, Belgium’s busiest airport, was shut down at 8 pm (1900 GMT), after three drones flew above its perimeter. Around the same time drones were seen over airports in Antwerp and Liege, forcing those airports to close until early Wednesday morning. According to the Defence Ministry, drones were also seen hovering above Florennes Air Base. After two hours the airport briefly reopened, but was then closed again when at least one drone appeared. Around 2 am, the suspension of flights was lifted. Theo Francken, the Minister of Defence, told a committee in parliament that it appeared as if the incidents were coordinated to cause disruption and involved large drones flying together. It is similar to hybrid techniques used in other countries. It's not someone flying a drone randomly over an airport or military site... There are several indications that it was planned in a structured manner." Brussels Airport reported that 81 flights were cancelled and 24 diverted since the initial shutdown. Nearly half of the cancellations happened after the airport reopened Wednesday morning due to planes being in the wrong places. The first flight on Wednesday was at 6.30 am. The major cargo hub of Liege Airport reopened its doors at 3 am, almost seven hours after being closed. Five flights were cancelled, 37 were delayed, and eight flights had to be diverted. The authorities in Denmark, Norway, and Germany are investigating the drone sightings which have temporarily grounded airport air traffic in Oslo, Copenhagen, and Munich since September. However, so far, little information has been made public about what happened in these cases. Reporting by Inti, Charlotte, Blenkinsop, and Tierney Kugel. Editing by Mark Heinrich.
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UPS Worldport, Louisville: A nerve center for global logistics
United Parcel Service has halted its cargo sorting operations at Louisville International Airport following the wide-body freighter. burst into flames On Tuesday evening, nine people were killed, including three crewmembers, shortly after the takeoff. The airport has reopened for air traffic and is now home to UPS's biggest package-handling operation. It also serves as a hub for UPS's global air-cargo operations. UPS also expects to resume its cargo operations by Wednesday morning. However, the company has not yet issued an official update. A prolonged closure at the facility known as Worldport could have cascading effects on the U.S. logistic network, possibly delaying deliveries and disrupting the supply chain. Here are some key facts about this facility and its importance in global trade. LOCATION AND SIZE The Worldport facility at Louisville Muhammad Ali International Airport is about 5.2 millions square feet or 90 football fields in size. It serves as UPS' global air logistics nerve centre. CAPACITY Handles about 2 million packages per a day. The automated sorting system is capable of processing up to 420,000 letters/packages per hour. DAILY OPERATIONS - An average of 360 flights per day inbound and outbound, connecting over 200 countries and regions. This compares to about 150 passenger flights from and to the airport. STRATEGIC IMMPORTANCE The hub is the central part of UPS's network for overnight deliveries, connecting North America, Europe and Asia. Delivery giant UPS is a major logistics partner of e-commerce giant Amazon, as well as the United States Postal Service. History UPS began operations in Louisville in the early 80s with a small facility that sorted about 2,000 air parcels per day. In 2002, 2010, and 2022 the company added two healthcare logistic facilities and a brand new aircraft hangar. (Reporting and editing by Arun K. Koyyur in Bengaluru, with Shivansh Tiwary from Bengaluru)
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The death toll from the Louisville UPS plane crash has risen to nine
Officials from Louisville and Kentucky said that the death toll has now reached nine. The UPS cargo plane crashed into a fireball just moments after taking off in Louisville on Tuesday. The National Transportation Safety Board investigators will be at the scene on Wednesday to start the process of determining what went wrong after the MD-11 cargo aircraft, which is 34 years old, caught fire at 5:13 pm. ET on Tuesday, and then crashed. The crash site was reported by Louisville Mayor Craig Greenberg as having nine bodies. Andy Beshear, Governor of Kentucky, said via social media that it is possible that there will be more deaths. Officials reported that 11 victims were taken to hospital on Tuesday. Officials said that the airport international in Louisville, Kentucky reopened for air traffic on Wednesday morning, but the runway where the accident occurred is expected to be closed for at least another 10 days. UPS announced Tuesday that it had stopped package sorting at its airport facility. The company didn't say whether it resumed its package sorting on Wednesday. The plane had enough fuel for an eight-and-a-half-hour flight to Honolulu. UPS reported that it had a three-person crew. Officials said that none of the crew survived. The crash was the first UPS cargo aircraft to occur since August 2013 when an Airbus plane crashed on the landing approach at Birmingham International Airport, Alabama. Both crew members were killed. After the crash, thick black smoke rose into the evening skies from several buildings that were on fire in an industrial area just beyond the runway. A person who was briefed in the matter, and showed video images of debris on the airfield, said that the key question for the investigators was why it appeared as if one engine had separated from the aircraft before the crash. (Reporting and editing by Andrew Heavens; Reporting by David Shepardson)
Cathay Pacific buys back shares of Qatar Airways worth $897.3 Million
Cathay Pacific Airways announced on Wednesday that it will repurchase its entire shareholding in Qatar Airways at a cost of HK$6,97 billion ($897.33 millions).
Cathay Pacific will repurchase 9.57% shares of its issued stock at HK$10.8374 each, and will be able to "fund its operations" after the completion of this share buyback.
The price of the share repurchase is 3.9% below Wednesday's closing stock price.
Qatar Airways is a state-owned airline
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In November 2017, it acquired a 9.61% share in Cathay Pacific for HK$13.65. This was its first significant stake in an Asian carrier, allowing them to increase their global influence as well as traffic through the Doha hub.
Cathay's share purchase price represents a discount of 20,6% compared to the Qatar Airways' 2017 purchase price.
Qatar Airways has not responded to the request for comment immediately.
(source: Reuters)