Latest News
-
Luxembourg deploys additional surveillance assets after drone sightings
Luxembourg's government announced on Sunday that "additional" detection assets had been deployed to strengthen the airspace monitoring after Luxembourg Airport temporarily suspended services late Friday night due to drone sightings. In a statement, the government stated that "to strengthen airspace analysis and monitoring capabilities, additional detection resources have been deployed. These include resources provided by our foreign partners." The report added that "These supplementary system have contributed to further consolidating the?airspace monitoring and a better assessment by the competent authorities of?the?situation". The government said also that on Saturday evening, police "received a number of reports"?concerning?the suspected presence?of?drones in national airspace but that after "verifications", "no situation required an operation intervention by the authorities". After flight operations were temporarily suspended Friday evening, the Luxembourg authorities began an investigation following the sighting of unidentified drones. Prime Minister Luc Frieden said to reporters?on a Saturday that his country was "confronted?with?something _new for Luxembourg, namely the presence of?larger drones in Luxembourg airspace". "We've observed this over the past few days and took precautionary measures last night," said he. The Luxembourg government said on Sunday that its drone assessment cell continues to work with partners in order to monitor the situation.
-
Election in Russia sparks a dispute with Moldova about voting in a separatist region
The Russian parliamentary elections have sparked a diplomatic dispute with Moldova, which has objected to the Kremlin’s plan to open 15 voting stations for Russians in the separatist Transdniestria Region. Moscow has confirmed that '220,000 residents' of pro-Russian Transdniestria (a small sliver which separated from Moldova at the end the Soviet regime in 1990) hold Russian passports, and have the right to vote in Sunday's election for the State Duma. Moldova's pro Western government wants to join the European Union by 2030, and denounces Kremlin war in Ukraine. It says that Russians can vote only at the Russian Embassy in Chisinau. It disputes the 220,000 figure, and opposes all polling stations in Transdniestria where it does not have control over the procedures. The Moldovan authorities have branded the Kremlin’s 15 planned voting stations as “unacceptable and hostile” and summoned Russian Ambassador Oleg Ozerov for questioning at the Foreign Ministry. Maria Zakharova, spokeswoman for the Russian Foreign Ministry, retorted that Moldova should drop its objections and stop actions which "run counter to democracy, international law and good sense". Mihail Popsoi, Moldova's Foreign Minister, told Moscow to "not interfere with Moldova's plans" for a peaceful reintegration of the separatist territory. The last Russian parliamentary election was held in 2021. Authorities in Moscow opened 27 voting stations in the area and more than 59,000 people voted, with 76.2% of them supporting United Russia, a party that supports Russian President Vladimir Putin. Transdniestria has not been recognised internationally,?not by Moscow either, but a Russian contingent of about 1,500 troops that Russia describes sometimes as peacekeepers remains there, despite Moldova's demands for them to leave.
-
Coast guard: China vessel rams Philippine vessel on a refuelling mission
The Philippine Coast Guard said that a China Coast Guard vessel had rammed a Philippine boat on a refueling trip in the South China Sea on Friday. This was the latest incident between the two nations in disputed waters. The BRP Datu Magat Salamat, a vessel of the Bureau of Fisheries and Aquatic Resources (BFA), was en route to provide fuel to Filipino fisherman about 54 nautical mile off the coasts of Palawan Province. The coast guard reported that a China Coast Guard vessel made contact with a Philippine ship and damaged the railings and deck structure of the vessel. However, no one was injured, according to the coastguard. In a statement, it stated that "the?China Coast Guard deliberately ran a civilian government ship on a humanitarian mission and livelihood mission." The PCG released a video showing crew members shouting, "brace yourself for impact!" Moments before the collision which took place at 0313 GMT, 11:13 am. After the collision, photos showed bent and 'detached railings and damaged metal'supports. Debris was scattered on the deck. In a press release, the China Coast Guard stated that they conducted law enforcement operations near Sabina Shoal, Friday, after a Philippine vessel "disregarded multiple solemn warnings and deliberately changed its course, suddenly accelerating to cut across our vessel's bow." The Chinese boat was said to have operated professionally, and the collision blamed on the Philippine side. In a Facebook post, US Ambassador Lee Lipton said: "We strongly condemned the China Coast Guard’s deliberate ramming." According to a post on X, the Chinese Embassy in Philippines condemned the US Embassy for'supporting what they called Philippine infringements and provocations in water near Sabina Shoal. Manila accused Beijing in July of firing "water cannon" at government vessels near 'Scarborough Shoal' and hitting a Philippine Navy staff member with a wooden baton on the head during an encounter off the Second Thomas Shoal.
-
Cuba's electric grid collapses once again, plunges island into darkness
Cuba's electrical system collapsed on Friday, leaving millions of people without power and plunging Cuba into darkness. This was due to a US pressure campaign which has prevented oil from reaching Cuba's largest Caribbean island. Authorities said that the failure of high-voltage transmission cables in central Cuba around 2 pm local time was responsible for Friday's collapse. Felix Estrada, a Cuban National Electrical Union official (UNE), said: "Protocols have been put in place for the gradual restoration of system." By late evening power had been restored to a few neighborhoods, mostly around hospitals. However, the rest of Havana was still completely dark, due to cloudy skies and rain. The blackout in the United States, which was at least six partial or complete grid collapses from January onwards, barely registered with a nation that is used to going for long hours, or days, without electricity. The blackout struck as many residents of Havana, the capital city, were already exhausted and without electricity. Yesterday I was without power for 24 hrs. "They turned on the lights for an hour and then the grid collapsed," Frank Lorenzo said, a 23-year-old Havana local looking forward to sweating and slapping at mosquitos. Cuba's decrepit power system, which has suffered from fuel shortages for many years, has now been further strained by the US oil blockade. Since July, the grid has 'collapsed' three times and blackouts spanning 30 hours or longer have been experienced across most of Canada. Human rights experts from the United Nations have condemned the US oil embargo, calling it a violation to international law and warning that Cuba could become a "silent Gaza", as shortages and blackouts continue to grow.
-
After a temporary suspension due to drone activity, flights resume at Luxembourg Airport
Authorities resumed flight operations at Luxembourg Airport on Saturday after suspending them the previous evening due to the discovery of "unauthorized unmanned aerial systems", or drones. The airport, Luxembourg’s only international airport, announced that it had imposed a'suspension' on Friday, as a precautionary measure, to ensure the safety and security of passengers, airline crews, airport staff, and aircraft. The airport did not provide any details about the origin or operator of the drones. Although flights have resumed as scheduled, some 'delays and disruptions' may persist while airlines and airport partners work to restore the normal schedules. Luxair's main hub at Luxembourg Airport, which is the country's main airport, has said that it will continue to monitor the situation in coordination with the relevant authorities.
-
Saudi civil defence sends all-clear after danger warning for capital Riyadh
Saudi civil defense sounded the all-clear on Saturday morning after issuing alerts for potential danger in Riyadh, and Al-Kharj city east of the capital. This was amid a surge of attacks by Iran-aligned Houthis against the Gulf nation. This was the first alert for the capital city since Houthis in neighbouring Yemen intensified attacks on Saudi Arabia. A? Two booms were heard by a journalist in the Olaya district of Riyadh. The alert comes hours after the Houthis’?military spokeswoman said that the?group foiled "criminal efforts" of unspecified nature in the Yemeni Capital Sanaa. She blamed Saudi Arabia for the failure and promised a reaction. Since declaring a blockade on 'Riyadh' in July, the Houthis have launched attacks against Saudi Arabia, with strikes in the Red Sea targeting Saudi vessels. According to the group, which has been able to seize Yemen's entire Red Sea coast in a flash of lightning since last week, the Saudi Air Force has carried out?hundreds? of airstrikes over recent days.
-
US and China discuss cutting tariffs for US LNG before Xi's visit
According to two people who have been briefed about the discussions, the US and China are discussing a proposal to reduce or eliminate 'China's tariffs against American LNG. This is part of a broader agreement on energy and agriculture that could be announced if Chinese President Xi Jinping comes to Washington next week. People said that the?potential?relief of US exports of Liquefied Natural Gas is being discussed along with a larger framework whereby the US and China each would cut tariffs on around $30 billion worth of goods. In February 2025, China increased its tariffs on US LNG by 15% in response to President Donald Trump's duties against Chinese goods. This effectively ended the US-China LNG trading, and the last significant cargoes arrived early in 2025. American LNG producers are looking for new markets to absorb the new export capacity that is being built along the US Gulf Coast. Years of trade tensions have made China, one of the largest LNG markets in the world, less accessible. These?discussions' are part of efforts to stabilise trade ties in advance of a meeting between Trump and Xi on September 24, and they are not finalized, according to the people. The White House nor the Chinese Embassy in Washington did not respond to requests for comments. The American LNG Industry is entering a phase of major expansion. Export capacity will grow by approximately 10 billion cubic feet a day through 2027, as new and expanded installations ramp up. Projects involving Cheniere Energy Venture Global Sempra NextDecade, Exxon Mobil and Venture Global are among those adding capacity. Return of Chinese buyers could?give US gas producers another major destination at a time when geopolitical turmoil is reshaping the global energy flow, possibly helping to underpin demand for those projects that are currently under construction or seeking financing and long term customers. According to estimates and analyses by the industry, of the nearly 100 million metric tonnes of LNG capacity currently under construction in the US 24,5 million metrictons have yet to be contracted to long-term clients. Global LNG FLOWs US LNG cargos, which would have otherwise gone to Asia, were increasingly drawn to Europe after Russia's invasion of Ukraine in 2022 disrupted Europe’s access to Russian gas pipelines. As a result of the ongoing conflict between Iran and the US in the Middle East, global energy flows have shifted, as disruptions in supply are increasing the competition for LNG cargoes from Asia. China is the largest LNG -importer in the world, and the US the largest LNG-exporter. This gives the two countries a strong economic incentive to reestablish a trade relationship that was growing rapidly?before tariff disputes. US data shows that after Beijing implemented the tariff on US LNG, US exports to China dropped from 64 vessels to zero in 2025. In 2021 the number of vessels had "reached a new record", reflecting the rapid expansion of US LNG trade to China since large-scale exports began from the Lower 48 States in 2016. US LNG shipments from the US to China dropped to only two vessels during Trump's first term trade dispute with Beijing in 2019, before bouncing back in 2020 and 2021. According to LSEG shipping information, in recent months several US cargoes left the Gulf 'Coast terminals for export have either arrived in China, or are heading there. This suggests that Chinese buyers began to return to the US even though the tariff remained. According to the Energy Information Administration, US LNG exports in the first half 2026 averaged 17,4 bcf/d, up by 23% compared to a year ago.
-
FedEx and Advent-led consortium secures more than 89% of InPost's shares in the takeover offer
InPost, a Polish parcel locker operator, announced on Friday that FedEx International, Advent International as well as other InPost shareholders had offered 89.81% of its shares. InPost?reported in a press release that the minimum acceptance threshold of 80% shares had been reached. The consortium agreed in February to purchase InPost for approximately EUR7.8 Billion ($8.95 Billion)?in a cash-only offer of EUR15.60 per equity share. After the transaction is completed, InPost's shares will be removed from Euronext Amsterdam. It is one of Europe's biggest networks of automated parcel lockers. The company operates in nine countries, including Poland. The company will continue to be known as InPost and keep its headquarters and management structure in Poland. Since 2021, the shares of 'its company have been under pressure due to intense competition in its home market and heavy investment expenditure?to support rapid growth.
Europe prepares for economic impact of Iran conflict
The U.S. and Israeli military attack on Iran could push inflation up, and stifle the already weak economic growth in Europe.
The attacks disrupted the commercial shipping in Gulf, which is a major source of fuels and petroleum products to Europe. The interruption of energy supplies immediately increased the price on financial markets.
Fuel prices will likely rise and the Bank of England and European Central Bank's outlook may be clouded, causing them to delay any rate cuts until they clear the fog of war.
What you need to know about the economic impact on Europe of the Iran Conflict:
CHOKE POINT FOR OIL GAS AND OTHER OTHER PRODUCTS
The Strait of Hormuz is located between Oman, Iran and the United Arab Emirates. It's a major gateway for Gulf exports, including oil, gas, and chemicals.
Hormuz is the route through which 20% of all oil produced in the world, including that from Saudi Arabia, United Arab Emirates (UAE), Iraq, Kuwait, and Iran, as well as large quantities of LNG from Qatar, travels.
After the invasion of Ukraine by Russia, Europe has shifted its energy imports to the Gulf region.
According to the U.S. Energy Information Administration, Britain, Italy and Belgium are among the European countries that depend the most on LNG imports via the Strait of Hormuz.
According to broker Kpler, the Gulf is a major producer of propane, butane, and ethane which are used in heating, agriculture, and as fuel.
EUROPEANS PAYING HIGHER FUEL PRICES?
Shipping data indicates that more than 200 vessels, including oil and gas tankers, have dropped anchor in the Strait of Hormuz as a result of conflict with Iran.
The oil and gas price has increased immediately. Brent futures rose nearly 8%, to $78 per barrel. Natural gas prices on the Dutch market were up 19%, at 38 euros a megawatt-hour.
In its December projection, the ECB assumed a natural-gas price of 29,6 euros/MWh this year and a crude oil price of $62.5.
The ECB will publish its new macroeconomic forecasts on the 19th of March. A cut-off date has been set for energy prices and other market indicators, which is three weeks before that -- this Wednesday.
This would mean an upgrade in its projections for energy inflation. The ECB could, however, decide to create several scenarios. This is what it did when Russia invaded Ukraine in 2022.
UniCredit said on Monday that oil prices are likely to remain at around $80 due to the abundance of oil. A major escalation would be required, such as damage to Saudi oil infrastructure to push the price up to $100.
What else is affected beyond energy supplies?
Suez Canal has been the conduit for a vast amount of trade between Europe and Asia.
In late 2023, many vessels on this route were re-routed to Africa following attacks by Yemeni Houthi rebels in the Red Sea. However, before the Iran conflict broke out, shipping companies were considering increased use of Asia-Europe's vital trade corridor.
Shipping companies began to reroute vessels away from the Suez Canal on Sunday, potentially increasing freight rates and raising the cost of imported goods.
What is the impact on growth and inflation?
According to the ECB, the impact on inflation of the recent oil price increase is much greater than its impact on growth.
In its sensitivity analysis, published in December, it argues that an increase of 14% in oil and gas prices would only lower the growth rate by 0.1% and increase inflation to 0.5%.
Next year, these impacts will be similar in magnitude and then begin to fade.
According to polls, the euro zone and UK economy are expected to grow at 1,2% and 1%, respectively, this year and then 1.4% next year. This pace is modest compared to the United States where output is expected to increase by 2.5% in 2026 and 2.0% in 2020-27.
The impact would be minimal compared to 2022 when Russia's aggression against Ukraine will cause energy prices to rise. According to a study by the European Commission, this lowered growth by 1% and increased inflation by 2%.
Energy is priced in dollars, so a relatively strong euro could also help to reduce the impact.
In a separate report, the ECB argued that the growth impact is likely to be temporary, as the economy will adjust.
How will the central banks react?
Investors have lowered their bets that the Bank of England will cut its Bank Rate benchmark by a quarter of percentage point this month. Pricing suggests a 69% likelihood, down from a 78% probability on Friday.
The ECB has already shown that it will not be taking any immediate action. It is expected to keep its rates unchanged for the rest of the year.
The central bank of the eurozone does not react to volatility in the short term and ignores temporary energy price spikes.
Any reaction will be determined by how long and how wide the conflict is. Donald Trump, the U.S. president, said that Sunday that the Iran operation might last for four weeks.
Commerzbank economists saw no impact on the economy if war only lasted a few short weeks.
If it continued for several months, they estimated that inflation in the Euro zone would likely rise by at least 1 percentage point. Economic growth would also be lower by a few tenths.
A modest increase in inflation would not affect the target.
The ECB is usually concerned if a single inflation shock begins to impact longer-term expectations of prices and spreads through to broader wage and pricing trends, via what are called second-round impacts.
The ECB will say for the moment that they are monitoring temporary volatility, but remain alert to any developments.
The market's expectations of longer-term inflation remain largely unchanged, which likely reinforces the bank’s message to wait and see.
The markets are all on the same page. This year, no interest rate changes are priced. Reporting by Francesco Canepa, Balazs Coranyi and Topra Chopra.
(source: Reuters)