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Three people are killed in attacks on Indonesia's Papua, including a plane and a Freeport convoy
Authorities reported that three?people died and several were injured in shootings 'in two areas of Indonesian's easternmost region, Papua. This included?near operations of Freeport - Indonesia, a gold & copper miner. Police spokesman Cahyo Sukanrito?said that the pilot and copilot of a Smart Air small commercial plane were killed when assailants fired on it as it landed on Korowai Airport in Boven Digoel province, South Papua, on Wednesday. In addition to the pilots, there were 13 other passengers on board. He said that when the shooting began, both the pilots as well as the passengers fled the plane into a nearby forest. Both the pilot and copilot died, but none of the passengers were hurt. Cahyo replied that it was unclear if Papuan rebel 'groups' were suspected. Smart Air did not respond to an inquiry for comment. Separately the Indonesian military reported that the Free Papua Movement, a rebel group, attacked a convoy belonging to PT Freeport Indonesia (part of U.S. mining company Freeport-McMoRan Inc), killing a soldier, and injuring an officer and a Freeport worker. Freeport Indonesia reported that the attack occurred on the main road leading to the mining city of Tembagapura on Wednesday afternoon, prompting a temporary closure of the area. Sebby Sambom, the spokesperson for the rebel group, said that both attacks were carried out by them. Sambom stated that the plane was shot at and the pilot killed because it was a regular carrier of Indonesian security forces in Papua. He didn't provide any details on the motive behind the attack against Freeport convoy. Since 1969, when the United Nations supervised a vote that brought Papua under Indonesian rule, a low-level conflict has erupted between the security forces and separatists. Independence supporters continue to dispute that process. (Reporting and editing by John Mair; Ros Russell, Mark Heinrich, and Mark Heinrich.)
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Maguire: Low snow cover in Europe leads to higher gas consumption.
The European appetite for natural gas could grow more than expected in this year, after a lack of snow cover across mountainous regions reduced the potential for hydropower production. The amount of snow in Italy and Austria has been well below average so far in 2026. This has led to a sharp drop in the fuel source for hydropower plants. Local utilities use natural gas plants to compensate for the decline in power generated by hydro dams. Hydro dams are the main source of power in Austria, and the second most important form of dispatchable energy in Italy. According to LSEG, the gas-fired electricity output in Italy is up 24% and in Austria by 17% compared to where it was at this time in 2025. Power firms are likely to maintain the current level of gas production if snow accumulation continues below historical averages. This will further reduce regional gas stocks, which have already reached multi-year lows. The prospect of increased gas demand in Europe is a boon for major LNG exporters such as the U.S. The upbeat outlook for gas could be shattered if regional snows or?rains are expected to fall in the next few weeks. East-West DIVIDE Recent maps of Europe's snow cover - or the lack thereof – highlight the severity of the shortage in certain areas. Most of Western and Southern Europe, including the areas hosting the Winter Olympics, does not have enough snow. Ski resorts are able to create artificial snow for the Olympics. However, if utilities are looking to manage power flow, they can only rely on real snow to act as a storage reservoir for future hydropower generation during the winter. Then the runoff from the melting snow will be channeled into rivers and dams in order to generate electricity. LSEG data show that Italy's hydro power production from run-of river dams is down 22% compared to a year ago and the lowest year-to date since at least 2023. LSEG also has a sluggish forecast for the future of hydro production. The estimated output is projected to be 13% lower than its long-term average through April. Austria's projected shortfall will be even greater, with production expected to fall by around 40% compared to the long-term norm. The forecasts for the larger Danube Catchment Area - which spans southern Germany, Hungary and Romania – are in line with long-term averages despite the subpar readings this year. GAS CRUTCH Austrian and Italian utilities are used to patchy hydro-generation and have relied heavily on gas plants to fill in any gaps. Utility companies in Turkey follow similar trends for power generation, with periods when gas-fired electricity is produced coinciding to those of low-hydro production. As regional gas inventories are already at a multi-year low, power companies across Europe could start to see a trend in the price of replacement 'gas supplies as storage farms, utility networks, and gas exporters control system throughput. Prices for regional benchmark natural gas are now well above what they were in 2025. The average price per megawatt-hour (MWh) has been around 34 euros so far this year, compared to around 27 euros/MWh?in December of last year. Price increases could also be expected if the U.S. or any other supplier disrupts the LNG export flow from the U.S. Gas inflation can cause utilities to lose money and increase energy bills. If snowfall is scarce in key hydro markets then power firms may be forced to pay for gas to keep the lights on during winter and spring. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest Follow ROI on Twitter for the latest global financial news. Follow ROI on You can find us on LinkedIn. Listen to the song Morning Bid daily podcast Spotify Or the . Subscribe to the podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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Bombardier wins $1.18 billion order for business jets from Vista Global
Bombardier Canada announced on Wednesday that Dubai's Vista Global, a?private jet provider based in Dubai, has placed an order for 40 Challenger 3500 business jets worth $1.18 billion. Bombardier stated that the order includes a?option for an additional 120 aircraft, which would bring a total value of 160 planes to approximately $4.72 billion. The deal is part of a sustained 'demand for private flying', which has swollen the?order books of business jet manufacturers. The Challenger 3500, an upscaled version of Bombardier's Challenger 350 Business Jet that seats up to ten passengers, is a variant of the Challenger 350. Bombardier is considering increasing production of private aircraft after reporting a 11% increase in revenue for the third quarter in November last year. The demand for jet aftermarket services is also increasing, which has led to an expansion of service in the U.S. Shares of the Montreal-based firm have increased by?over 211% over the past year. Bombardier was recently criticized by Donald Trump for threatening to decertify their business jets. This is due to Ottawa's long-term?certification? of jets manufactured by U.S. competitor Gulfstream. The dispute appears to be over, as the head of U.S. Federal Aviation Administration said on Tuesday that he expected Canada to certify a few Gulfstream business 'jets which had been delayed by years. Reporting by Devika nair in Bengaluru, and Dan Catchpole from Seattle. Editing by Mrigank dhaniwala.
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Indian court jails journalist in Adani Group defamation case
A court in India has sentenced an Indian journalist to a year's imprisonment for his posts on social media about the Adani Group. The court said that the posts were?unverified, defamatory, and painted the group in a negative light. Adani Enterprises led by billionaire Gautam Adani filed a case against India journalist Ravi Nair at a Gujarat district court in 2021, accusing him for making statements that suggested "political.. patronage... financial irregularities and unethical.. conduct", according to an order.. seen on Tuesday. The court's order stated that "no documentary material, official records, or verified data have been produced" to support the serious allegations against the company. Nair said he would appeal the conviction, but declined to provide further comment. The Adani Group did not respond immediately to a comment request. The court noted that Nair's attorney argued the posts are based on?publicly available material and represent fair criticism and comment. India is one of the few countries that still has criminal defamation as part of its legal system. The maximum sentence is two years. The law was criticized by lawyers, journalists, and activists, and even had a legal challenge rejected in 2016 before India's highest court. The Committee to Protect Journalists, a press freedom group, said that it was "deeply concerned" by the verdict. The statement was made on X. (Reporting and editing by Aditya K. Kalra, Kim Coghill and Arpan Chaturvedi)
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Nine people are killed by tropical cyclone Gezani that slammed into Madagascar
Authorities reported that Tropical Cyclone Gezani, which swept across Madagascar's eastern coast, killed?nine in the?second largest city of the Indian Ocean island country, leaving a 'trail of destruction'. Madagascar's disaster management office said 19 people were injured and that nearly 1,500 residents had been evacuated in an area around Toamasina, a port city. Gezani ravaged coastal communities then swept inland. Residents of Toamasina and the surrounding area described scenes of chaos when the cyclone hit land. Harimanga Ranaivo said, "I've never seen winds so violent. The doors and windows made of metal are being violently shaken." According to the UN's humanitarian office, it was the second cyclone that hit Madagascar in the past year. Ten days earlier, tropical cyclone Fytia had killed 14 people and forced over 31,000 others from their homes. Gezani's peak winds were 185 km/h (115 miles per hour), with gusts reaching nearly 270 km/h. This was powerful enough to tear metal sheets from roofs and uproot trees. Before the arrival of the cyclone, officials closed?schools. They also rushed to set up emergency shelters. Madagascar's National Bureau for Risk and Disaster Management warned that rising sea levels in Toamasina had already flooded streets. The?pressure from the?winds caused homes to collapse, roofs torn off, walls to crumble, and entire neighbourhoods plunged into darkness when power lines snapped. Madagascar's Meteorological Service reported that by?Wednesday, Gezani was downgraded to a moderate tropical depression and moved inland westward, approximately 100 km north-west of the capital, Antananarivo. The service stated that "Gezani" will move out into the Mozambique Channel tonight or this evening after crossing the central highlands today from east to west. (Reporting and writing by Lovasoa Rabary; Editing and proofreading by Ros Russell).
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The UK and France power interconnection is halted by regulators
The British and French energy regulators announced?on Wednesday? that they could not approve the new interconnection of power between Britain and France because conditions were not met. Both countries?share electricity connections totaling around 4 gigawatts. According to a study conducted by France's energy regulator,?CRE last year,?while the addition of a capacity of 1 GW could be beneficial to France, this would depend on how revenues and costs are distributed. In a joint statement, the regulators stated that they would conduct a 'joint study to determine the need for future projects and how costs could be shared.
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New York Times Business News - February 11, 2019
These are the 'top stories' on the New York Times?business?pages. These stories have not been?verified? and we cannot vouch for the accuracy of these reports. Elon Musk, the CEO of xAI (his artificial intelligence company), told his employees on Tuesday that he needed a factory to be built on 'the moon' to build AI satellites, and a'massive rocket to launch them into space. According to a source familiar with the deal, Britney Spears has sold her entire music catalogue. Federal Aviation Administration (FAA) halted Tuesday all flights to and from the 'El Paso International Airport' in Texas, citing "special security" reasons that were not specified. Ford said on Tuesday that its electric vehicle division lost $4.8 billion by?2025, and was expected to lose between $4 billion and $4.5 billion by 2026. (Compiled by Bengaluru Newsroom)
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Police say two people were killed when a civilian aircraft was shot down as it landed in Indonesia's Papua.
Indonesian police confirmed on Wednesday that a pilot and a co-pilot a small plane were killed 'after unknown assailants opened fire 'on the aircraft landed in Indonesia's easternmost province of Papua. Local police spokesman Cahyo Sukarinto said that the Smart Air plane carrying 13 passengers and two?pilots landed on Korowai Airport in Boven Digoel (South Papua) at 11.17 local time (0.21 GMT) on Wednesday. He said that when the shooting began, both the pilots as well as the passengers left the plane. They then headed to a forest area near the airport. All passengers were unharmed, except for the pilot and copilot. Cahyo stated that it was unclear who was responsible for the attack on Cessna Caravan after he had been asked if Papuan rebel 'groups were involved. Since 1969, a low-level 'but increasingly deadly' battle for independence between security forces - and rebels- has been simmering in resource-rich Papua. Smart Air has not responded to an immediate request for comment.
Finnair shares rise as travel boom boosts profits
Finnair, the Finnish airline, reported an unexpected increase in its 'fourth quarter' profit on Wednesday. It also forecast higher earnings for this year due to stronger travel demand. The company's shares rose more than 10%.
Finnair's?poll? of analysts predicted that the comparable operating profit would be 43.3 million. Instead, it was 61.7 million euros.
The company attributed the increase to a stronger demand in Asia and Europe as well as lower fuel costs and a slight increase in passenger numbers.
CAPACITY INCREASE
Finnair said in a press release that the demand for air travel in its key markets is expected to increase. This will be aided by an improved macroeconomic environment, as well as a rising purchasing power of consumers.
"However, international conflicts, global political instabilities, and the threat of wars on trade create uncertainty in the operating environments."
The shares of the majority-owned company by the Finnish government were up 11% early in trading and are now up 26% in the last three months. Finnair is forced to fly longer routes into Asia after Russia closed its airspace to all airlines in 2022. This has eroded their competitive edge and increased costs. The results last year were also affected by labour disputes, unplanned maintenance, and a weaker North Atlantic market.
The group projected a full-year "comparable operating income" of 120 million to 180 million euros, based on sales between 3.3 billion and 3.4 billion. In 2025 it posted a profit on sales of €31 billion of 60,1 million.
Finnair plans to increase capacity by 5% in 2019, including wet leases, where the crew are provided with the plane. Fuel prices will remain at current levels and should offset increased costs due to environmental regulations.
The airline has proposed a dividend of 0.09 euro per share for 2025. Essi Lehto reported. Anna Ringstrom, Mark Potter and Anna Ringstrom edited the report.
(source: Reuters)