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Officials say that Russian drones killed five people when they hit a Ukrainian bus and train.
Five people were killed by Russian drones that struck a passenger train and bus in southern Ukraine on Wednesday. A regional governor posted a photo on Telegram showing a white car with blown out windows and what looked like blood flowing down its side. The image has not been verified. Volodymyr Zelenskiy, the Ukrainian President, said on social media that there was no military logic behind this act, but rather it was a brutal act. He urged the U.S., Europe, and other countries to continue with their toughening of sanctions against Russia. Strikes on Economic Targets Increasing in Intensity In recent months, Moscow and Ukraine have exchanged escalating strikes on?logistics targets and other economic ones. The aim was to hamper each other's military effort and damage morale. Since the full-scale Russian invasion of Ukraine in?2022, Ukraine's airspace has been closed. Buses and trains are now a vital link for Ukrainians. Police said that the drone attack near Nikopol, a frontline city in eastern Ukraine, killed four men and one woman on early Wednesday morning. Oleksandr Hansha, the Governor of the Dnipropetrovsk Region, posted the picture. He said that seven more people were injured. Russia did not immediately comment on the attack. Both Ukraine and Russia have denied that they deliberately targeted civilians during the war, which was sparked by Moscow's invasion of its neighbor. ATTACK ON PASSENGER TRAINS The acting regional governor confirmed that a Russian drone had also targeted a passenger train located in the southern region of Ukraine, Mykolaiv. Heorhii Rezhetilov, a Telegram user, said that all 168 passengers as well as the crew had been evacuated. No one was injured. He said that the train was attacked two more times after the initial strike. Zelenskiy stated that in addition to the Mykolaiv attack, a train in Kovel, near the border of Poland, was also hit. These incidents are similar to others that have occurred recently. On Sunday, a train was attacked near the border of Ukraine with NATO-member Poland, just a few hours after European diplomats and politicians had used essentially the same line. The state railway operator said that Russia has increased its attacks against Ukrainian rails. It has hit 120 passenger wagons, and 304 locomotives as well as 43?railway stations so far this year. The company stated that Russia has attacked 1,700 rail facilities since the beginning of the year. This is up from 1,206 in 2025 and 8,42 in 2024. Andrii Sybiha, Ukraine's foreign minister, said that Russian forces "strike passenger train, locomotives and railway routes, knowing how important they are to civilians, evacuations and the economy of Ukraine." This is not collateral damages. He said that it was a systematic search for civilians and an attempt at paralysing the civilian life.
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Farm groups in Ukraine say that Ukraine is considering ship insurance as a way to boost food exports.
A 'farm lobby group' and a'major farmers union" said that Ukraine was examining the possibility of adding additional insurance coverage to ships transporting food exports in order to help revive seaborne trade, which has been disrupted due to Russian attacks against vessels and port infrastructure. Since the summer of 2016, Russia has intensified its attacks on Ukrainian ports and commercial vessels. This has effectively stopped the seaborne exports from the country. Ukraine used to ship 90% of its cargo via Black Sea ports. The disruption has already reduced agricultural exports by 60 percent, putting the planting campaign in 2027 and the subsequent harvest at risk. Ukraine produces approximately three times more grains than it consumes at home. Without unrestricted access to exports, Ukraine could be faced with a shortage in grain storage capacity, a sharp drop in domestic prices, and ultimately, bankruptcies of farmers. Kyiv may not have formally "suspended Black Sea Shipping", but shipowners refuse to dock at the Odesa hub, for fear of being attacked by Russians. The main challenge is to ensure the safety of the maritime transport as well as the stability of the export corridors. In a report released after a meeting between Ukraine's President and Prime Minister, the UCAB group stated that "the introduction of ship insurance?mechanisms" was discussed. In 2023, Ukraine implemented a compensation scheme to cover damages caused by attacks on vessels. The Unity Facility was also established, an insurance mechanism for war risks, with the participation of Marsh McLennan and Lloyd's of London underwriters. UAC, the Farmers' Union, said that one way to improve farmer's financial situation could be lending secured against stored grains. The arrangement allowed farmers to use grain stored in warehouses certified by the USDA as collateral for loans that would cover working capital. This prevented them from selling their harvest at low domestic prices.
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US court accepts airBaltic's Chapter 11 filing - Latvian Prime Minister
On Wednesday, Prime Minister Andris Kulbergs announced that a U.S. judge had 'accepted' the request of Latvian carrier airBaltic to restructure its debt and enter Chapter 11 under U.S. bankruptcy law. This means that airBaltic can: immediately access funding; begin the restructuring; and review its obligations to creditors. "Work continues,"?Kulbergs stated in a social media X post. The?airline didn't immediately respond to a?request for comment. AirBaltic, which is majority owned by the Latvian Government, filed for Chapter '11 protection on Monday in order to 'cut its debt pile after the Iran War increased financial pressure. The company said that it had secured an agreement for a financing commitment of EUR350 million (USD404.1 million), subject to court approval. AirBaltic will be expected to negotiate in the coming months with bondholders, lessors of aircraft and other 'creditors' as it works towards a formal restructuring?plan. This plan must receive separate court approval for the company to exit Chapter 11. As part of its long-term business strategy, the airline said it aims to finish this process by June 2027 with a'reduced fleet and lower operating costs.
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Documents show that To Lam will sign an agreement with US firms while he is in New York.
According to two documents and officials, a number of agreements are expected to be announced by U.S. and Vietnamese corporations next week, involving energy, technology, aviation, and financial firms, as?Vietnam leader To Lam visits New York. Vietnam has been negotiating commercial agreements for months, most of which will be non-binding. This is part of its strategy to appease Washington, as the Trump administration threatens new tariffs against the Southeast Asian nation that relies heavily on exports. A note of internal planning lists 29 agreements which could be announced in New York on 23 September at a conference attended by To Lam. Murphy Oil, Chevron and ExxonMobil are expected to announce deals with the state-owned Petrovietnam. ExxonMobil will announce a deal with Vietnam Refinery & Petrochemical Corporation (the country's 2nd largest refinery). The refinery in February signed a nonbinding oil supply contract with Chevron. However, no further purchase has been announced. ExxonMobil is the largest gas producer in Vietnam. Murphy Oil has been active in oil exploration in Vietnam. The agreements will be announced during To?Lam’s last day in New York, before he departs for Canada on a state trip. Three officials confirmed that he will be speaking at the U.N. General Assembly and meeting with several U.S. companies on September 22. The official announcement of his schedule is yet to be made. Two officials stated that his trip was also intended to make progress in trade negotiations with the United States and possibly agree on a deal that has been negotiated over a year. Sources said that a meeting with U.S. president Donald Trump was not guaranteed. A White House official told reporters on Tuesday that Trump's schedule had not been confirmed. The foreign ministry of Vietnam?nor the companies mentioned in this article responded immediately to requests for comments, some of which were made outside of normal business hours. TECHNOLOGY, AVIATION The document lists a number of deals that Vietjet has made with SpaceX, aviation partners, and even SpaceX itself. According to a separate Vietjet document, the company 'is expected to announce a?leasing announcement of up to 22 planes, including 17 Boeing 737s and five Airbus A321neos, from four aviation leasing firms. According to the document from?Vietjet, the contract planned with?SpaceX will provide satellite internet services to 120 Vietjet planes via Starlink. According to documents, the airline plans to sign Memoranda of Understanding with U.S. jet engines maintenance firms. A separate agreement between U.S. chip maker Qualcomm and Vietnamese telecom firm VNPT is also included in the provisional list. ?Qualcomm has already been active in the deployment of Vietnam's new 5G network. Meta's Facebook, on the other hand, is the most popular social networking site in the Communist-ruled country. According to the document, Visa, Mastercard, and Citibank will also announce agreements with financial partners and hospitality partners in Vietnam.
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Ukrainian forecasters claim drought will affect winter wheat sowing
Ukrainian state forecasters said that the weather conditions for sowing winter wheat in September are still unfavourable, but some farmers have nonetheless begun planting despite the drought. About 95% of Ukraine’s total wheat production is winter wheat. The wheat is sown during the autumn, and harvested the summer following. Forecasters reported late Tuesday that "continued shortages of effective rainfall in the majority of the country have prevented replenishment" (of soil moisture reserves) in the most populated areas. "Soil drought intensified creating unfavourable conditions to prepare land for sowing?winter crop for?the?2027 harvest." Ukraine has experienced droughts in August and September. Farmers continue to plant winter crops, hoping that an autumn rainy and warm will compensate for the moisture deficit, allowing plants to grow sufficiently before winter. The Agriculture Ministry has not yet announced its forecast of winter wheat sown for the 2027 harvest. However, it has warned the area planted may 'decline' due to the inability to export the 2026 wheat harvest and the lack -of- funds for the planting campaign. The Russian attacks have effectively blocked Ukraine's Black Sea port, which handled 90% of its exports.
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Maguire: Super El Nino could throw Europe's gas forecasts out of course
The record-breaking El Nino weather pattern in Europe this winter could limit the amount of gas required by utilities during Europe's peak heating season. El Nino, which is measured in sea temperatures of the central Pacific Ocean can have a broader impact on the globe. It can cause stronger winds in Europe and temperatures above normal in winter. The European utilities' natural gas requirements may be constrained by the combination of warmer than usual weather and more sustained winds through early 2027. This may make moot concerns about Europe's low gas stocks, and dash hopes for a surge in LNG imports from European traders by the end of the year. SUPERSIZED EL NINO UNDERWAY El Nino, or a periodic increase in sea surface temperature in the Eastern Pacific due to weaker trade winds, occurs every two to seven years. El Nino occurs every 2-7 years, can last for up to 12 month and has a significant impact on rainfall patterns and temperatures in all regions. El Nino this year "may be stronger" than any since we began monitoring. "It's literally off the charts," said World Meteorological Organization Secretary-General Celeste Saulo at a press conference in Geneva earlier this month. El Nino is already responsible for recent record heatwaves and droughts across Europe, but it may still have a significant impact on the region's climate patterns. According to the meteorological data service Nebbo, El Nino's peak is expected to appear between November and January. This means that Europe’s winter weather patterns will be affected. El Nino winters are known to cause a negative pressure over the North Atlantic. Gerard Castro wrote in a report that this steers the jetstream, channeling westerlies into the UK, North Sea, Ireland and Scandinavia. WINDS FAVORABLE If the weather pattern is as predicted, wind farms in Germany, France, and the United Kingdom -- which account for the majority of Europe's wind power -- will see an increase in production in 2026. It would be a welcome departure from the recent sub-par wind production trends caused by extended periods of below-normal winds at turbine level. This forced Europe's utilities, to increase generation from other sources. The term Dunkelflaute, which describes periods of darkness and low solar or wind energy, was coined in Germany. Due to the lack of sustained winds in wind farm corridors, Germany's peak wind energy production in 2024 and 2025 was far below that in previous calendar years. Ember reports that these shortfalls in wind power generation occurred despite the fact that Germany's total capacity of wind farms has increased steadily to an all-time high of 82 gigawatts by mid-2026. According to LSEG's generation data, there are some signs that Germany is beginning to see a turnaround in wind power generation. In August, the output was 30% higher than the average of the previous two years. Germany's wind farm generated approximately 390,189 Megawatt Hours of Electricity per Hour (MWh/h), compared to 298,000 MWh/h in August last year, and 277,075MWh/h in August 2024. GAS SQUEEZE If the wind speeds increase as predicted as autumn approaches, then Germany's wind farm generation levels should continue to rise, with system-wide implications for utilities. According to Ember, wind farms account for 28% of the total electricity supplied by utilities in Germany. The next-largest electricity source is coal (around 20%), while natural gas ranks third with an annual production share of roughly 16 percent. In Germany and Northern Europe, higher wind energy generation tends towards a reduction in coal and gas fired production. It is possible that during periods of high wind output, utilities will reduce their gas consumption more than they do coal. Reduced gas consumption in Germany or elsewhere could limit the drawdown of regional gas stocks, as well as reduce interest in buying new gas supplies via liquefied gas imports. GETTING WARMER Strong El Ninos are known to cause milder temperatures in the winter, as well as causing a breezier climate across Europe's biggest wind belts. Strong El Ninos tend to favor what is called a positive North Atlantic Oscillation. This is when high pressure brings mild, moist air?over continental Europe. LSEG's forecasters predict that these conditions will continue into 2027. LSEG's weather analysts published a recent outlook for winter 2026-27. They noted that temperatures are expected to be warmer in continental Europe, the Black Sea Region and Scandinavia. Cold risks will only affect north/central Russia and Scandinavia. The forecasts are subject to change and the current projections of a strengthening El Nino could be a false alarm and lead to a colder and drier winter than expected. Most major forecasters predict a mild, breezy winter for Europe. This could boost wind farm production far beyond recent stunted levels. It may also trigger sustained reductions in gas consumption throughout the region. These are the opinions of the columnist, an author for. You like this column? Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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Middle East disruptions and oil slips reduce losses
The oil price?fell Wednesday after a 'two-day rally, following an unexpectedly high build up in the?U.S. Crude inventories remained high, and supply disruptions in Middle East persisted. Brent crude futures dropped 73 cents or 0.67% to $108.02 a bar at 0450 GMT. U.S. West Texas intermediate futures were down by $1.1, or 1.04% at $104.73 a bar. The Yanbu loading suspension raised supply concerns and Saudi Arabia reduced oil shipments to Europe. Both benchmarks closed more than $3 higher on Tuesday and were at their highest level since May 19. Market sources said on Tuesday that the American Petroleum Institute's data showed that U.S. crude, gasoline, and distillate inventories rose all last week. API data cited by sources revealed that crude inventories increased by 7.1m barrels during the week ending September 11. This was compared to analysts' expectations of a draw down of around 1.6 million barrels according to a survey. API data showed unexpected increases in gasoline and diesel stocks have weighed down on prices. However, regional stock increase do not change the tightness of?the global oil market. Haitong Futures stated in a report. Priyanka Sackdeva, Phillip Nova's head of market insight, stated in a Wednesday report that despite the inventory pressure, traders remained resilient, focusing on disruptions to supply. She said that the attacks on Saudi energy installations and disruption of Saudi Arabia's East West pipeline and Yanbu export facilities were the biggest concern. The European Diesel Futures hit a new record high on Tuesday. This highlights the tightness of fuel markets due to Middle East disruptions that have impacted crude and product flow. On Tuesday, sources said that oil loadings had been suspended at Saudi Arabia's Yanbu Port after the world's largest crude exporter closed its East-West pipe following an attack on Yemen's Houthis by Iran-aligned Houthis last Friday. Saudi Arabia offers more crude oil loadings to Asian refiners through ship-to-ship transfers at Oman's Sohar Port after drone attacks damaged the key?oil pipe to the Red Sea. Preliminary shipping data showed that the number of visible?vessels transiting the Strait of Hormuz on Tuesday was four, down from seven the day before. This is well below the 10-day average of 18 After intensifying attacks, the drop in traffic through the waterway has been attributed to the war between Israel and the United States against Iran.
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Four days after the capsize of a ship in Indonesia's Java Sea, 129 people are still missing and families desperate for information
Families of 129 missing people are becoming more frustrated and desperate as the search and rescue operations continue to be hampered by persistent bad weather, heavy seas, and heavy seas. The Virgo 'Transport?8' was carrying 243 passengers on a voyage of 20 hours from Surabaya, East Java, to Banjarmasin, South Kalimantan. It capsized early Sunday morning in bad weather. The official death toll on Wednesday was six, with 108 people rescued, and 129 still unaccounted for. This number has not changed since Sunday. "I hope that we will use our advanced military equipment. We buy them to help the people, right?" What else? ?For war? "We are unlikely to go to war," said Fauzi, 37, who had been waiting for the news about seven of his family members who were aboard the ship, including his mother. Fauzi (who goes by only one name) said that after waiting for four days at the Banjarmasin rescue command centre to receive promised updates on the search, his hope has begun to fade. He said, "We don't hope much. What we need is certainty." I Putu Sudayana (the head of Banjarmasin’s rescue agency) said that the Coast Guard and Navy were unable to launch underwater search and rescue operations due to waves up to 8 feet and 2.5 meters high and strong winds close to the capsized vessel. Putu reported that six ships, helicopters, and aircraft were deployed on Wednesday for a surface search. Maria Dethan (21), a 21-year-old woman, has been waiting anxiously for her brother Samuel to return from the command centre since its establishment. She said she needed to know for sure if her brother was starving. She said, "I'm hoping that today I will get some clear information about my brother."
Singapore opposition legislator opposes Temasek funding to Air India
Singapore opposition legislator urges that Temasek, the state investor, not be used to bolster Air India after reports that 'the Indian carrier had asked owners Tata Sons, Singapore Airlines and Temasek, who is majority owner of Singapore Airlines for $1.5 billion.
Kenneth Tiong of the Workers' Party, an opposition member of parliament, stated in a post on social media that since Singapore Airlines owned about 25% of Air India, and Temasek, in turn, owned most of Singapore Airlines, the request "was not only a private shareholder question."
I will not support or expect any future use by Temasek of funds to support Air India through Singapore Airlines. "If Singapore Airlines wishes to continue its?bet on Air India, they should do it on their own, not with Temasek’s help," he said.
He added without further explanation that "whichever of the two writes a cheque?it will have an impact on Temasek."
Singapore's Ministry of Transport did not reply to requests for comment. Neither did Temasek or Air India.
A spokesperson for Singapore Airlines said that the board of directors would consider Air India's request for additional capital, taking into account the group's?capital needs and its business strategy.
Tiong also said that he filed a written question to the Transport Minister on 8 September, asking if the losses and carrying amounts of Singapore Airlines' foreign affiliates had been compared with its ability to provide essential transportation services.
Singapore Airlines' commercial decision is now being scrutinized by the political establishment in Singapore. The airline's 25.1% share in Air India has affected its earnings, as Air India's losses have widened. Tata Sons Chairman N. Chandrasekaran said that the turnaround could take up a decade.
Air India Express and its budget-wing Air India posted combined losses in the year ending March of $2.33 Billion, which is more than twice the previous year. Singapore Airlines absorbed its share of the losses.
Air India will continue to require capital infusions "in the coming years", a source with knowledge of the matter said earlier this week.
Air India's future funding has been a topic of discussion for many years.
The Securities Investors Association of Singapore (SIAS) asked the Singapore Airlines board whether it had set limits on the amount of capital that could be allocated to Air India, and under what conditions they would approve additional capital.
Singapore Airlines didn't provide a limit in a response written on 17 July. The company stated that its board would consider any requests carefully, while taking into account its other capital needs?and Air India’s business strategy.
Air India is suffering from Pakistan's ban on Indian carriers flying in its airspace, the disruptions caused by the U.S./Israeli war against Iran and the fallout of a fatal crash that occurred last year. (Reporting from Abhijith Ganahapavaram, New Delhi; Additional Reporting by Xinghui Kok, Singapore; Editing Jamie Freed).
(source: Reuters)