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The grid operator, the government and watchdog are all blamed in Spain's Senate investigation of blackouts
According to preliminary conclusions published on Wednesday, an investigation by the Spanish Senate has blamed?the government as well as the country's grid operator and energy monitor for the 'unprecedented' blackout last year. The upper house, which is controlled by opposition People's Party(PP), is the first to place blame for the outage on April 28, '2025 that left large areas of Spain and 'Portugal in darkness for as long as 16 hours. According to the nine-month investigation, the blackout wasn't an accident that was unforeseeable. It was caused by structural flaws that had been known for years. The blackout was a result of a vulnerability that had been known for some time. It also reflected a failure by the PP to act with diligence. The preliminary report noted that repeated voltage fluctuations in the weeks leading up to and including the blackout were evidence of the system's increasing problems. The Senate Commission held the grid operator 'Red Electrica', a Redeia unit, and the Energy Ministry primarily liable?for this outage. It also criticized energy and antitrust regulator CNMC, for what they referred to as inaction on the part of the regulator and supervisory authorities. The inquiry 'heard testimony from dozens witnesses, including Energy minister Sara Aagesen and Redeia Chair?BeatrizCorredor, as well as CNMC Head?CaniFernandez. The final report is due this week. However, no changes are expected to the preliminary findings. Reporting by Emma Pinedo, Pietro Lombardi and David Latona; editing by David Latona
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Gulf stock exchanges rise on optimism about US-Iran Peace Talks
Investors are encouraged by optimism over renewed U.S. - Iran?peace negotiations. The United States announced on Wednesday that it had completely halted all sea traffic to and from Iran despite President Donald Trump's suggestion that negotiations to end the conflict could resume this week. Trump stated that U.S. officials and Iranian officials could meet again within the next couple of days in Pakistan, while Vice President JDVance expressed his optimism about the current state of the talks, even though the discussions last weekend ended without a breakthrough. Both officials in Pakistan and Iran have also said that the talks could be restarted soon. Dubai's main stock index rose 1.7%. This was boosted by the 1.6% increase in Emaar Properties, a blue-chip developer. Air Arabia, a budget airline, has risen by 3.4%. Aldar Properties grew 1% in Abu Dhabi. Saudi Arabian?Mining Company traded 1.7% higher, while the benchmark index rose 0.4%. Saudi Aramco, the oil giant, also rose 0.2%. Brent crude futures rose 1% to $95.77 per barrel after falling nearly 5% over night to below $100. Separately the International Monetary Fund said on Tuesday that the growth in the Middle East will be sharply slowed this year due to the fallout of the Iran War. The?Qatari Index rose 0.4% led by a rise of 0.7% in the Gulf's largest lender, Qatar?National Bank. Majed al-Ansari, a spokesperson for the Gulf state, denied that there were 'any talks' with Iran about?payments aimed at halting attacks. Instead, the Gulf state said its demands had been conveyed to Pakistan and America, instead.
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Magyar, a Magyar from Hungary, will meet with MOL's leadership to discuss fuel supply
Peter Magyar, Hungary's acclaimed election winner, said that he will need to speak with the leaders of oil company MOL in order to ensure fuel security. The centre-right TISZA party (Respect and Freedom), led by Magyars, won a landslide victory at Sunday's elections. This ended the 16-year reign of nationalist Prime Minister Viktor Orban. Orban set a price cap for fuel in early March as the global prices of diesel and petrol rose due to a rise in oil prices fueled by the conflict with Iran. The government of Hungary also prohibited the export of crude, diesel and 95-octane gasoline and announced that it would release 45-days worth of fuel reserves. This was in response to a stoppage of supplies via a pipeline transporting Russian oil through Ukraine. The Hungarian Hydrocarbon Stockpiling association reported that Hungary's strategic oil reserves and oil products had fallen to 44 days net imports at the end of March from 91 days in February. The association announced on Tuesday that replenishment is 'underway' and reserves have since increased to 53 days net imports. The European Union requires that member states maintain 90 days net imports. Magyar stated that the acting government had a great responsibility to do something in the next 20-30 day's regarding the strategic oil reserve. "Everyone is hoping that the Druzhba Pipeline can restart by April's end, but even then it will take time to replenish strategic reserves." "The TISZA government must ensure that the security of supply is maintained in the coming weeks, under the outgoing administration. MOL responded to an emailed question on Tuesday by saying that the crude oil supply was unaffected as the oil was still coming through the Adriatic pipeline, even though the Druzhba Pipeline was still closed. We have reached agreements for deliveries with companies in the United States, following agreements with Libyan, Kazakhstani, Norwegian, and Saudi Arabian companies. MOL reported that the Danube Refinery was operating at a reduced capacity as a result of a fire which occurred in one of its units last October. Fuel supply in Hungary is uninterrupted. Reporting by Krisztina than and Anita Komuves, Editing by Andrew Heavens & Louise Heavens
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UAE stock exchanges rise on optimism about US-Iran Peace Talks
Early trading in the United Arab Emirates on Wednesday saw the stock markets?build on the gains of the previous session?as optimism about renewed U.S. - Iran peace talks boosts investor sentiment. Even though Donald Trump said that negotiations to end the war with Tehran could resume this week, the United States announced on Wednesday that it had halted all sea traffic to and from Iran. Trump stated that U.S. officials and Iranian officials may meet again in Pakistan within two days. Vice President JDVance expressed his optimism about the current state of talks, despite the fact that last weekend's discussions were unsuccessful. Dubai's main stock index rose 1.6%. This was boosted by a 2.7% increase in Emaar Properties, the blue-chip developer. Air Arabia, a budget airline, jumped by 3.1%. Aldar Properties grew 2.9% in Abu Dhabi. Reporting by Ateeq Sharif in Bengaluru, Editing by Neil Fullick
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Overnight, Russia launched more than 300 drones and missiles against Ukraine
Ukraine officials reported that Russia had attacked Ukraine with drones and ballistic missiles overnight, targeting port infrastructure to the south. Ukraine's airforce said that Russia launched 324 unmanned aircraft in the time period between 6 p.m. and 1500 GMT on Tuesday, as well as three ballistic missiles. The air defence units destroyed or neutralised 309 drones. However, the missiles and thirteen drones were hit in nine different locations. Oleksandr Gáncha, regional governor of the Dnipro region, confirmed on Telegram that three people were injured by a Russian drone attack overnight on the city. Ganzha posted photos of a building that had a huge hole on one side. Five people were killed and more than 30 injured in a Tuesday missile attack on the city. Ihor Taburets said that four people were treated for injuries after an overnight drone attack in Cherkasy. Ivan Fedorov said that a woman was killed early Wednesday morning in shelling of Zaporizhzhia, located in the south-east of Ukraine. Fedorov wrote on Telegram that a 74 year old saleswoman had been killed at a kiosk. The attack also damaged nearby residential buildings, a business premises, and car parks. Oleh Kiper, regional governor of Odesa, Ukraine, reported that port infrastructure in the southern region on the Black Sea was subjected to another drone attack. Damages were reported at administrative and warehouse buildings. Officials from the Kyiv area also reported an attack by drone.
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New York Times Business News - April 15, 2019
These are the most popular?stories from the New York Times business pages. These stories have not been?verified and we cannot vouch for their accuracy. Both sides reported that they had a positive discussion, although it wasn't immediately clear if a framework for peace was agreed upon. OpenAI announced that it would share its new A.I. GPT-5.4 Cyber, a?model that will be shared with hundreds of organizations before being expanded to thousands more in the next few weeks. Canadian Prime Minister Mark Carney announced that he will temporarily suspend the federal gas tax from 'early September onwards. He is the latest country to act to assist consumers who are facing rising prices at the pumps due to 'the war in Iran and disruptions to global energy markets. - 'The U.S. House of Representatives overwhelmingly passed a bipartisan aircraft safety bill. This has set up a'showdown' with the Senate where leaders have proclaimed that certain provisions are not enough to prevent midair collisions. (Compiled by Bengaluru Newsroom)
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China ordered Maersk and MSC not to operate Panama ports, according to FT.
The Financial Times reported that China has told the Danish shipping company Maersk and Swiss-based Mediterranean Shipping Company to stop operating ports on the Panama Canal. The report cited 'two people who were familiar with the discussions' as saying that Maersk and MSC Shipping received a directive from China's state planner to immediately withdraw from the Balboa and Cristobal port. Could not confirm the report immediately. Maersk Shipping, China's Foreign Ministry, and the State Planner did not respond immediately to requests for comment. The report stated that Maersk and MSC were warned not to "engaged in illegal activities which harm the interests Chinese companies and to maintain commercial ethics and international laws." Panama has granted temporary concessions of 18 months to keep the terminals operational. APM Terminals is a unit?of Maersk and TIL Panama is a?unit?of MSC. CK Hutchison is facing heavy criticism in China after announcing a plan to sell 43 ports across 23 countries in March '2025, including Balboa & Cristobal, to a group led by a family-run Italian shipping company MSC and BlackRock. (Reporting and editing by Sonia Cheema, Subhranshu Sahu, and Gnaneshwarrajan in Bengaluru)
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Reports from FT claim that Iran used a Chinese spy satellite to target US military bases.
The Financial Times reported on Wednesday that Iran had secretly purchased a Chinese spy satellite. This gave the Islamic Republic the ability to target U.S. bases in the Middle East during the recent war. According to the report, which cited leaked Iranian documents, the Islamic Revolutionary Guard Corps Aerospace Force acquired the TEE-01B satellite in 2024, after it had been launched from China. The newspaper reported that Iranian military commanders had directed the satellite to monitor major U.S. Military sites. It cited time-stamped coordinates lists, satellite imagery and orbital analyses. The images were captured in March, before and after missile and drone strikes?on these locations. Could not verify the report. Earth Eye Co, the CIA, the Pentagon, China's Ministry of Foreign Affairs and Defence, and The White House did not respond immediately to our requests for comment. According to the report, as part of the agreement, the IRGC gained access to commercial ground station operated by Emposat. Emposat is a Beijing-based 'provider of satellite data and control services with a nationwide network that extends across Asia, Latin America, and other regions. FT reported that satellite images captured on March 13-14 and 15 showed the Prince Sultan 'Air Base 'in Saudi Arabia. The U.S. president Donald Trump confirmed on March 14 that US planes had been?hit? at the base. The report states that the satellite monitored Muwaffaq Salti Air Base, in Jordan, as well as locations near the Fifth Fleet Naval Base in?Manama in Bahrain and Erbil Airport in Iraq around the time IRGC claimed attacks on facilities there. Reporting by Shivani Tana in Bengaluru, Editing by Sonali and Neil Fullick
Airline pilots are faced with increasing stress as the war continues to spread. They must contend with drones and missiles.
In recent years, airline pilots have been faced with a growing number of risks. From drone incursions to conflict-induced flight paths, the dangers are increasing. The U.S. and Israeli attacks on Iran have made the skies more dangerous, increasing the pressure for those who fly through them.
As a result of the 'outbreak of war' in the Middle East, hundreds of ballistic rockets and attack drones have been launched above some of the busiest airports around the globe. Tehran has retaliated against the U.S., and its allies by hitting airports. Scores of flights were grounded from Dubai to Abu Dhabi. A small number of rescue flights have been able to reach thousands of passengers.
Eight pilots and more than half a dozen aviation and security experts said that the accumulation of conflicts, from Ukraine to Afghanistan to Israel has increased the burden for pilots. They are forced to manage a shrinking airspace as well as the use of military drones away from active war zones. This has increased the stress on pilots who are desperate to ensure the safety of themselves and their passengers.
"We aren't military pilots." Tanja Harter is a Middle East-experienced pilot and the president of the European Cockpit Association.
She said that the current crisis was the latest of a series of security threats to the aviation sector over the years. This could cause pilots "fear and worry." She said that airlines have peer-to-peer programs, and as a pilot, she would not want "to share airspace with missiles."
Industry experts say that airspace safety has deteriorated over the past two and a half years due to an increase in conflicts. This is due to a combination GPS spoofing, which involves intentionally tricking planes as their location, and increased drones and missiles.
Air France's flight from the United Arab Emirates to return stranded French nationals was forced to turn back on Thursday due to missiles. On Friday, a Lufthansa flight diverted to Cairo from Riyadh due to regional security concerns.
FLYING HIGHER IS THE BEST WAY TO AVOID MISSILES
The head of Lebanon's Civil Aviation said that pilots trained in the Middle East have grown accustomed to emergency situations. The escalating war put these skills to the ultimate test. On March 5, video footage showed smoke rising from buildings in Beirut as planes took off.
"Lebanon's Civil Aviation Authority Director General, Captain Mohammed Aziz said that Middle East pilots are always facing crises. We trained them from the beginning on how to handle contingencies, emergency situations and other things."
No one can guarantee they won't or won't bomb an airport.
One Middle East Airlines pilot with over a decade's experience says routes to Beirut are more complicated. He said that shoulder-fired missiles used by the Lebanese army had a maximum range of 15,000. Pilots therefore increased their altitude in order to avoid being hit. They also carried extra fuel to be prepared in case of a forced divert.
Most missile strikes are still far enough away to not be a threat, and most pilots are too busy to even think about them.
He said, "You are so busy on the plane making sure that you have permission to land and everything is in order that you don't even have time to think about what's going on outside the plane."
DRONES DISRUPT EUROPEAN AERIALPORTS
Risques are not limited to the Middle East. Drones have been a major weapon for both sides since the 2022 Russian invasion of Ukraine. Drone disruptions have been reported in airports from Stockholm to Munich - though the cause has not yet been confirmed.
Airline Captain Christian von D'Ahe is concerned by this 'emerging' threat. He has been a commercial pilot for over 15 years, and is the head of the Danish Air Line Pilots Association.
Von D'Ahe stated that drones were not easy to detect. We can see them flying in the sky, and they are very small. "So sooner or later something will happen."
Drones that damage an aircraft's wings or engines can cause a total loss of power.
Drones, on the other hand, do not emit any signal. This leaves pilots in a 'dark place. Airport radars are unable to detect drones. There are specialised radars, but they are usually operated by the military or law enforcement.
Dedrone, which produces counterdrone technologies, reported that there will be over 1.2 millions drone?violations? in the U.S. by 2025.
There's not much you can do
Airports can counter drones using radar, frequency sensors, and jamming devices, while other systems can "spoof them off their course". Airports are not allowed to shoot down drones due to safety concerns.
Tim Friebe is an air traffic controller based in Germany, and vice president of the Air Traffic Controllers European Unions Coordination. He said that drones are a growing threat to airports.
We have reports from pilots or controllers who spot drones. He said that there is not much one can do other than shutting down an airport.
According to a half dozen industry officials, drones caused the closure of some of the biggest airports in the world, from Munich to London Gatwick, last year. This prompted operators to upgrade their foreign object detection and drone detection systems.
Moritz Burger is a German commercial pilot who recalled seeing an object which looked like a ballon with a structure beneath it as he was about to arrive at a European Airport.
I was looking out of the window when an object passed just below our plane. He said that he could only see it for a maximum of two seconds. It was a startling sight and he had no time to react.
When you come across a near miss or a passing object, the time is too short to react. It is therefore unrealistic to think that pilots can fly around an object of this size. "There's not much we can do."
(source: Reuters)