Latest News
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Brazil regulator: Enel can sell Sao Paulo's power contract in order to avoid forfeiture
Aneel, head of Brazil's energy regulator, said that a unit of Italy's Enel, located in 'Sao Paulo and at risk of losing its contract to distribute electricity because of 'alleged poor performance', could sell it to another company to avoid financial losses. The Brazilian regulator began an administrative procedure earlier this week in order to potentially revoke Enel Sao Paulo’s concession after identifying “structural failures” in the provisioning of services following recent extreme weather events. Brazil's Energy minister Alexandre Silveira stated on Wednesday that "a negotiated exit" is still possible if the regulator recommends that the federal government cancel?Enel?s contract. However, he did not give details as to what that would mean. Aneel’s head, Sandoval Feitosa, told reporters Thursday that selling Enel Sao Paulo’s concession is the only solution he can imagine. He cited a case from 2022 in Goias, where Enel had sold its concession to Equatorial. He added that "the negotiated solution, mentioned by the Minister, which I believe is also an option, will have to be structured and approved by Aneel." Enel said recently that it did not plan to abandon the concession. During the administrative process, Enel has 30 days to make its defense before the regulator decides whether or not to recommend the revocation contract in Sao Paulo. Feitosa didn't?commit to an?eventual timeline?for resolving this case but Aneel said they would work towards a resolution "as soon as possible." (Reporting and writing by Leticia Fukuchima, Editing by Cynthia Osterman).
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US Postal Service wants to raise stamp prices to 82 Cents
Cash-strapped U.S. The cash-strapped U.S. The Postal Regulatory Commission must approve the proposal. It would increase overall mailing service prices by 4,8%. USPS warned that it may run out of money as early as February. USPS received approval earlier this?week from the Postal Regulatory Commission to temporarily increase prices for priority mail and packages by?8%, starting April 26. This is in response to rising fuel and transportation costs. USPS expects the surcharge will be in place until?January 17 Since 2007, the service has suffered net losses of $118 billion as its most profitable product - first class?mail - has dropped to its lowest level since the late 1960s. USPS reported a $1.25 billion quarterly loss in February. Separately, the commission approved USPS’s plan to suspend employer contributions beginning Friday. This will save $200 million every two weeks or $2.5 billion by September 30. Also reported USPS has struck a deal to use the Postal Service at least 1 billion packages a year or 80% volume of last year. In March, U.S. Postmaster-General?David Steiner announced that the Postal Service would be hiring restructuring advisers to address its mounting financial problems. Steiner is hoping to be able?to raise prices over the current 78-cents? for first-class postage and believes that Americans will be willing to spend 90 or 95 cents on a letter when most of the rest of the world charges $2 or more.
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Panama's president tries to calm China's tensions
On Thursday, Panamanian President Jose 'Raul Mulino sought to?calm tensions with China. He struck a?conciliatory note a day after he had called on the Asian superpower to increase inspections of Panama flagged vessels in a titt-for-tat reaction to China losing its concessions at Panamanian ports. Mulino, on a recent visit to the Balboa Port?on Pacific side of Panama Canal said: "We don't want a dispute with China." "I hope that the situation will de-escalate... that we can return to normality, both in our political relationship as well as in our understanding that the problem is one that will be solved." Mulino, when asked about?vessels flying the Panamanian flag being held in Chinese port, said that such inspections are not uncommon in global shipping. He also said that similar trends have affected other major registries including Liberia, and Marshall Islands. He said Panama is still assessing this situation. He said that the actions of Panama were not a political retaliation. Panama also wanted to confirm with Chinese authorities why vessels would be held for inspections. MINISTER LINKED INSURANCE TO COURT RULE Last month, U.S. Federal Maritime Commission stated that it was closely monitoring the surge of detentions in China for Panama-flagged ships, saying this exceeded historical norms. Mulino took a more lenient stance than Javier Martinez-Acha, the Foreign Minister. He claimed on Wednesday that an increase in inspections and arrests was due to the Panama Supreme Court's ruling against CK 'Hutchison's right of operation at the Balboa & Cristobal Terminals. The Panama Supreme Court invalidated the legal framework that supported the 1997 concession granting CK Hutchison’s Panama Ports Company, the right to operate terminals. Beijing was against this decision. The cancellation was a result of U.S. pressure to curb Chinese influence in the area around the strategic canal that handles 5%?of?global maritime traffic. CK Hutchison has launched an 'international arbitration case' against Panama, claiming damages of over $2 billion. The company, which operated these ports for almost 30 years, accused the Panamanian authorities illegally seizing their property. Mulino refused to 'comment on a recent arbitration claim made by CK Hutchison, Panama Ports Company, against Maersk which temporarily managed the terminals. Mulino said that it was not a government matter. Reporting by Elida Moreno; Writing by Natalia Siniawski, Editing by Stephen Eisenhammer and Rod Nickel
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Next week, the US House will vote on a bill to improve aviation safety
The U.S. Senate is expected to pass a bill next week that will address the dozens of recommendations made after a collision between a regional jet of 'American Airlines' and a Black Hawk helicopter of the U.S. Army in January 2025, which killed 67 people. On March 26, two House committees unanimously voted on legislation to require the installation of collision prevention technologies on all military aircraft, except fighters bombers and drones by 2031 and establish requirements for equipping collision mitigation technologies for civilian planes and helicopters. The bill, which will be considered under the fast-track House rule that requires two-thirds of the vote, addresses the deficiencies in the Federal Aviation Administration safety culture, improves air traffic control procedures and training, and enhances the safety around Reagan Washington National Airport where the fatal accident occurred. The bill also includes a review to see if the current flight traffic can be handled at Reagan, which is home to the busiest airport in America. House of Representatives failed to pass an aviation bill separate from the House's budget in February, after the Pentagon withdrew their support. This was despite the pleas made by lawmakers and the relatives of the victims killed in the American Airlines crash. The American Airlines accident is the worst aviation disaster in the United States since 2001. The ROTOR act passed the Senate unanimously on December, but it needed two-thirds of the House votes to pass the fast-tracked rules. It fell short by one vote. The House and Senate will likely meet in order to resolve any differences between the two measures before either measure becomes law. Jennifer Homendy, chair of the National Transportation Safety Board (NTSB), said that the ALERT bill addresses the 50 recommendations made after the mid-air collision in 2025 and that any final legislation should also do so. Homendy said that anything less would be "counter to aviation safety" and "dishonor 67 lives lost on January 29, 2025 and the families of those who fought tirelessly in support of safety changes."
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American Airlines to resume US flights from Venezuela by April 30
American Airlines announced on Thursday that it would resume flights to Venezuela by 'April 30th, after receiving approval last month from the U.S. Department of Transportation. The airline announced that it would resume its services to Venezuela. The airline said it plans to resume? U.S. Secretary of Transportation Sean Duffy lifted an order from January 2019 that barred U.S. airlines from flying to Venezuela. President Donald Trump had directed him to do so. In March, American Airlines' request for flights was approved. Sources said that the Transportation Security Administration (TSA) was in Caracas a little over a month ago, reviewing airport security procedures. This is a step necessary to resume flights. American has announced that it will resume service just weeks after the U.S. Military seized Nicolas Maduro, the leader of Venezuela. After a meeting with Delcy Rodriquez, the acting president of the United States, Trump asked the Transportation Department in January to lift the restrictions currently preventing U.S. flights. American began operating in Venezuela in 1987 and was the largest U.S. carrier in the country until it ceased service in 2019. The airline said that the daily flights would allow for travel for business, pleasure and humanitarian purposes. In?March the State Department removed Venezuela from its list of "Do Not Travel" for Americans, instead issuing a "Reconsider Travel", which was less serious, due to crime, kidnappings, terrorism and a poor health infrastructure. (Reporting and editing by David Shepardson)
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Brazil's Vale signs charter agreement with China's Shandong Shipping for ethanol-powered vessels
Vale, the Brazilian miner, has signed a 25-year charter deal with the 'China's Shandong Shipping Corporation. The agreement will see the construction of the first two transoceanic vessels powered by ethanol. Both vessels, with a combined capacity of up to 325,000 metric tonnes of iron ore each, will be delivered in 2029. Rodrigo Bermelho said that the ships will be equipped with rotors sails for harnessing wind energy, and engines that are more energy efficient, among other improvements. He said that decarbonization was an irreversible trend. "It's at the core of Vale's strategic plan, not just in maritime transport, but also across all the products we develop for the steel industry." Vale is one of the world's biggest iron ore producers. (Reporting and writing by Marta Nogueira, Editing by Chizu Nomiyama).
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Airbus Delivers 60 Aircrafts in March
Airbus announced on Thursday that it delivered 60 aircrafts in March, bringing the first-quarter deliveries to 114, a '16% decrease from last year at this point. Monthly data revealed that Emirates, which is based in Dubai, received three jets despite the disruption caused by the Gulf Conflict. The French plane manufacturer also delivered a jet to Etihad Airways, Saudi Arabia's Fly a?Deal and one jet to the Saudi Arabian airline. Airbus executives said that deliveries have been hindered by problems with fuselage panels, and a shortage of engines. Airbus will deliver 136 aircraft in the first quarter of 2025. Airbus plans to deliver 870 aircraft this year. The 'company' said that it had sold 408 aircraft during the first quarter, or a total of 398 after cancellations. (Reporting from Mateusz Rabiega, Gdansk. Editing by Matt Scuffham.)
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Serbia's NIS Oil Company, owned by Russians, seeks another waiver of sanctions
RTS TV reported that Serbia's Russian owned NIS oil company has asked the United States for another waiver of sanctions to allow it to import crude oil until its sale to Hungary MOL is completed. The Office of Foreign Assets Control (OFAC), the United States' foreign asset control agency, has granted a previous waiver that expires April 17. NIS operates Serbia’s only?oil refining plant in the northern city of Pancevo and supplies 80% of fuel to the Balkan nation. OFAC imposed sanctions against?NIS on October, as part of broader measures targeting Russia's energy industry over Moscow's conflict in Ukraine. They demanded the divestment by Gazprom and Gazprom Neft of their majority stakes. The Serbian Government owns 29.9% of the company, while small shareholders and staff hold the rest. MOL announced in 'January that it signed a binding agreement with the Russian companies in order to purchase their stake in NIS.?OFAC gave MOL until 'May 22 for the sale to be negotiated. Serbia imports crude oil primarily from Kazakhstan, Nigeria, and Guyana, via the island of Krk in Croatia, where it is then transported via the JANAF pipeline. (Aleksandar Vaovic; Editing done by Kirsten Doovan)
Spurs' Kudus may miss World Cup due to injury
Tottenham Hotspur's Mohammed Kudus suffered a setback in his recovery from quad?injury. The struggling Premier League club announced this on?Thursday. This was a blow to the Ghanaian international.
Kudus (?25) was injured against Sunderland when Thomas Frank was Tottenham's coach in January. He was expected to be back in March. Kudus did not play in any matches played by Frank's successor, Igor Tudor. Tudor left Tottenham last month.
Ghanaian reports stated that Kudus, who scored 13 goals in 46 appearances for Ghana, would be out of action for three more months. This could mean he won't play in the World Cup in June and July.
In a press release, Tottenham, now under the coaching of Roberto De Zerbi said that Mohammed Kudus had a "setback" in his return from an injury.
The club added that "he had returned to training with the team during the last week but will now need further specialist review and possibly surgery."
Kudus, a Spurs player who was signed from West Ham United during the off-season, has played 19 Premier League games this season. He has scored twice and provided?five assists.
Tottenham are currently in 17th position?in the table, just one point above relegation.
Ghana, who fired their coach Otto Addo just 72 days before the World Cup, will be in Group 'L with Panama, England, and Croatia when the tournament begins in the United States on June 11th. (Reporting from Cairo by Mohamed Yossry, edited by Christian Radnedge.)
(source: Reuters)