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Kedrion warns that a conflict in the Middle East could disrupt supplies of plasma to Iran
Kedrion, an Italian biopharmaceutical firm, said on Friday that it might struggle to deliver plasma-based medicine to patients in Iran if the disruption of shipping through 'the Strait of Hormuz' persists. Ugo Di Francesco, the chief executive of the company, said that rising fuel costs could make logistics costs too expensive. In an interview, Di Francesco said: "It is a matter of logistics. We need to be able to deliver products physically to patients." He added, "So far we haven't experienced any significant impacts on our ability to ensure the availability of therapies." Kedrion manufactures life-saving treatments for rare and ultrarare diseases. Its plasma collection system consists of 76 centres - 68 are in the U.S., and the rest are in the Czech Republic. Permira is the company's controlling shareholder, with a 63.2% stake. The Italian Marcucci family holds 16.3% of the company, while Italian investment companies FSI and?CDP Equity are minor shareholders. Kedrion and Britain's Bio Product Laboratory merged in 2022, creating a global group of plasma derivatives. Kedrion employs approximately 5,400 people. The company reported revenue of 1.78 billion euros (?1.65 billion) in 2025. This is an increase of?4.5% from 2024. It also posted adjusted core earnings of 341.4 millions euros, which represents a 22.6% rise. Di Francesco stated that the U.S. was responsible for 61% of their revenue last year. This share is expected to increase to 65% by 2026. (Editing by Gavin Jones & Mark Potter)
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Macron: France and Germany continue to work together on the fighter jet project
Officials said that on Friday, French President Emmanuel Macron & German Chancellor Friedrich Merz?tasked? their respective defence ministries to continue working on?the controversial Franco-German FCAS Fighter Jet Project. Plans to develop an 'futuristic air-combat system' with Spain are hanging by a thread due to a public disagreement over control between France Dassault Aviation, and Airbus which represents Germany and Spain on the 100 billion euro ($116.85billion) project. Macron replied "No" when asked by a journalist if the FCAS was dead. The French 'president' said that he and Merz had discussed the matter on the sidelines of an EU summit in Cyprus. He said, "We had an excellent discussion with the chancellor this morning, and we gave a directive to our defence ministers to work on specific areas on a variety of different topics." "Not only the future combat aircraft but also various levers of?our countries' cooperation." The German government's spokesperson confirmed that the two leaders had a discussion. The Chancellor and President of the United States instructed their respective defense ministers to continue to work on different areas of cooperation, and to decide on next steps. The spokeswoman stated that this work would be completed within the next few weeks. The German and French defence ministers offered different timelines on Wednesday for a final decision to be made about the fighter jet project. One said that the leaders of the two countries would make a quick decision, while the other stated that mediators wanted more time to discuss it. The disagreement centres on?leadership?of plans to build a fleet of interconnected crewed aircraft and armed drones, under a 'common digital umbrella. Insiders expected Germany and France to abandon the development of a joint fighter jet, but continue their cooperation on drones, and the so-called 'digital backbone', which would allow data exchange between jets, drones, and other sensors, such as ground radar. Macron would face political difficulties if he retracted the plan.
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Indonesia confirms that it does not plan to charge a toll in the Malacca Strait
Indonesia's finance minister said on Friday that the country has no plans to charge tolls for ships traveling through the Malacca Strait. His comments earlier in the week about monetising this strategic route caused a stir. Purbaya Yudhi reaffirmed a clarification given by the country's Foreign Minister on Thursday, that Southeast 'Asia’s largest economy will not impose tariffs along the Malacca Strait. Purbaya said at a press briefing that Indonesia would adhere to the U.N.?Convention on the Law of the Seas (UNCLOS), which outlines the rules that?govern the waterways used for navigation internationally. Purbaya caused a stir on Wednesday by?openly discussing ways countries could impose a toll on ships as a means to monetise this strait. He then noted that such an arrangement is not possible. As a result of the effective closure of the Strait Of Hormuz in the Middle East, policymakers have been forced to consider the security of other maritime chokepoints. The US has described the Malacca Strait as a 900 km (550 mile) long waterway. Energy Administration describes the Malacca Strait as the largest oil transit chokepoint in the world. It is bounded by Indonesia, Thailand and?Malaysia, and offers the fastest sea route between East Asia and the Middle East and Europe. Data from Malaysia's Marine Department shows that more than 102,500 ships, mostly commercial vessels transited the Malacca Strait in 2025. This is up from around 94,590 in 2024.
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New EU sanctions to be imposed on condensate imported from Russia's Yamal LNG
According to the EU official journal, new European Union sanctions will prohibit condensate imports from Yamal LNG as well as other Russian projects that produce light fuels?as a byproduct of?their?liquefied... production?from 1 January 2027. The European Union approved on Thursday an official 90 billion-euro loan ($105 billion) to Ukraine, and new sanctions against Russia in advance of a informal summit of the leaders of the EU in Cyprus. As U.S. peace talks, mediated by Washington, have been paused due to the focus of the United States on the war against Iran. Since December 2022, the EU has banned?Russian oil imports and introduced a price limit?for Russian oil. Imports of Russian crude oil, coal and fuels have almost been eliminated. In 2021 it imported 43% fuels and 25% crude oil from Russia. Russia produces a light oil called?gas condensate? at two of its LNG projects: Yamal LNG, and Arctic LNG-2. In 2024, the Yamal LNG plant located in the Arctic will export 1.12 million tons of gas to Rotterdam (Netherlands), an increase of 16.3% compared to?2023. The supply of 1.2 million tonnes increased by 7.4% last year. Gas condensate can be used to make petrochemicals and motor fuel. In 2022, the EU initially excluded gas condensates as a sanction. It cited the need to guarantee LNG supply security.
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Hapag-Lloyd reports that one ship has passed Strait of Hormuz
Hapag-Lloyd, a container?shipping company, said that one of their ships had crossed the 'Strait of Hormuz' on Friday. However, they did not have any information about the circumstances. A spokesperson said that four of the six initial ships are still in the Gulf after the charter agreement for one ship expired. This means the ship no longer belongs Hapag-Lloyd's fleet. He said that the four Hapag vessels still in the Gulf have 100 crew members who are supplied with "food and water". The United States struggles to keep control of the Strait of Hormuz - one of the busiest shipping routes in the world. Since a ceasefire was declared on April 8, the Iran war that Israel and the U.S. launched on February 28 has been put on hold. The?U.S. The?U.S. Tehran has said it won't consider opening the Strait until Washington lifts the "blockade" of Iran shipping that Washington imposed in the truce, and which Tehran views as a violation. This week, the?Iran showed off its control?over a large cargo ship with a video showing commandos storming it in a speedboat. (Reporting and writing by Elke Ahlswede; editing by Miranda Murray).
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China denies Trump's claim that the intercepted Iranian ship was a 'gift' from China
China's Foreign Ministry rejected on Friday an accusation made by U.S. president Donald Trump, that a cargo ship?flagged with Iranian flag?was seized by the United States. The "gift" from China was the armed forces. The U.S. claimed it had fired and seized a cargo ship from Iran that was trying to evade the blockade of Iranian ports. The Iranian military claimed that the ship was en route from China, and promised retaliation for what it called "armed piratery by the U.S." military." Trump told CNBC on Tuesday that the ship had "some things on it, which weren't very nice." "A gift from China, perhaps? I don't really know." The Chinese Foreign Ministry has rejected these comments. Reporters in Beijing were told by ministry spokesperson Guo Jiakun that "China is against any accusations or associations without a factual base". "Normal international commercial relations between countries shouldn't be subject to interference or disruption," he added. According to maritime security sources, the 'container ship Touska', which was boarded by U.S. forces on Sunday and seized, likely has dual-use items, that Washington considers could be used by the military, on board.
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Geely Caocao will deploy thousands of robotaxis fully customized in 2027
Caocao Inc., the ride-hailing division of Chinese automaker Geely Holding Group, said that it plans to deploy thousands?of robotaxis worldwide next year. Its CEO announced this on Friday. This could create a rivalry between Tesla's Cybercab and Caocao Inc. Caocao CEO Gong Xin said that the first large-scale deliveries and deployments of the Geely-made robotaxi Eva Cab are expected to begin in 2028, before the fleet grows to 100,000 vehicles by 2030. He said that the Eva Cab would first be deployed on the roads in Abu Dhabi, Hong Kong, and five cities of mainland China next year. Production, delivery, and deployment will be nearly simultaneous. The robotaxi is a 'purpose-built' vehicle with a redesigned cabin that has a simplified storage system and no door pockets. This reduces the risk of passengers forgetting their belongings. Gong, without disclosing an exact price, said that the cost of driverless cars with a luxury interior but without a powerful motor and without luxuries would be lower than the private cars. This approach is in contrast to the majority of robotaxis that are currently on public roads. These vehicles are usually modified versions mass-market cars, limiting interior optimization and cost control. Geely Holdings incubated Caocao in 2015. It is now the core platform of its shared mobility operations and robotaxis. It will be listed in Hong Kong by 2025. In the fourth quarter, it made its first ever quarterly adjusted net profit. Chinese automakers are moving towards autonomous driving and mobility solutions amid increased competition in the world's largest automobile market. Brian Gu, Xpeng's president, said on Thursday that the company will probably produce hundreds to thousands robotaxis over a period of 12 to 18 months. He said that Xpeng will initially focus on manufacturing robotaxis, and it is still looking for operating partners who can work together on a global robotaxi venture. The move by Chinese manufacturers to robotaxis could lead to a confrontation with Tesla. Elon Musk has said that the production of Cybercabs will increase gradually, before accelerating sharply. The vehicles are expected to replace modified cars as Tesla expands their driverless fleet. (Reporting and editing by Qiaoyi Li, Liz Lee)
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Truckmaker Volvo raises European market forecast as North American orders soar
Volvo Group announced a'sharp?rise' in truck orders for the first quarter on Friday. This was driven by strong demand from Europe and North America. Volvo Group also raised its forecasts for European heavy trucks registrations. The U.S. markets showed signs of improvement after a long downturn. Orders from North America increased by 78% in the first quarter. The European market continued to grow steadily. "Demand for our products in Europe continued to increase gradually while orders in North and South America increased dramatically." The recent increase in North American orders will allow production to be more balanced?from may", CEO Martin Lundstedt stated in a press release. Hampus Engellau, an analyst at Handelsbanken, said that the high?U.S. The order intake means that operating leverage should improve during the second half of this year. Volvo shares rose by 2.5% on the opening of the market. According to a LSEG survey, the average analyst's forecast for this quarter was 11.4 billion Swedish crowns ($1.2billion). However, operating profit dropped 20% from last year and fell to 10.7 billion Swedish Crowns ($1.2billion) in the third quarter. Bernstein and Handelsbanken, however, said that adjusted earnings of 12,2 billion crowns was above expectations. The global truck order intake increased by 14%, to 62 755 vehicles. Volvo has increased its forecast for Europe's heavy truck market to 310,000 units this year, up from the 305,000 vehicles forecast in January. The company maintained its forecast for North American heavy truck sales of 265,000 vehicles. Volvo's forecasts are viewed as conservative by many. Bernstein analysts predicted that attention would be focused on 'why Volvo didn't raise its North American market outlook. The group also said that the conflict in the Middle East has not caused major disruptions to its supply chain.
As the Middle East conflict shakes markets, global companies are delaying IPOs and cutting dividends.
The Middle East conflict affected global financial markets, logistics and hampered the supply of raw materials essential to many industries.
In alphabetical order, here is a list?of?some companies that have reacted?to the crisis?by postponing or withdrawing their initial?public?offerings?
Due to the geopolitical instabilities, which have clouded an offering's outlook, Romanian Telecoms Operator said it would delay plans to list its Spanish division on April 23, 2019.
DOMETIC GROUP
The Swedish outdoor technology company has withdrawn its dividend proposal for 1.00 swedish crowns per share ($0.11) and instead proposed no dividend for the year 2025. The company said that geopolitical events had heightened economic uncertainty and that there were signs indicating that demand and trading conditions are weaker than expected.
LOVEHOLIDAYS Online Travel Agent?Loveholidays? is preparing to postpone an up to $1,3 billion London IPO because the conflict has affected market sentiment.
MCCOY GLOBAL
The Canadian 'well construction automation company announced that it would suspend its quarter dividend in order to maintain financial flexibility due to the conflict in the Middle East. It said the conflict had created uncertainty, and affected logistics and delivery schedules.
PHONEPE
Walmart-backed Indian Fintech said that it has halted plans for an IPO due to geopolitical tensions causing volatility on global capital markets. It said it would restart the process when the global capital markets were stable.
SEVEN & i HOLDINGS
7-Eleven, the chain operator, announced on April 9 that it would delay the listing of its North American operations until its fiscal year 2027 or later. This was originally scheduled for the second half of 2026. The reason given? Market uncertainty and consumer spending risks.
TURKISH AIRLINES
The Turkish carrier announced on April 10 that it would not be distributing any dividends from its net profit for 2025, instead opting to'retain earnings in order to preserve cash.
XED EXECUTIVE DELIVERING
The executive education platform is the first company in India's low tax GIFT City area to?launch a public offering. It said that it had withdrawn the IPO due to a weak?market mood caused by the Middle East conflict, and delays in completing the video-based verification of customers for non-resident Indians, and foreign investors.
(source: Reuters)