Latest News
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Kenya launches IPO of state oil pipeline company, aims to raise $825 Million
Kenya sold a 65% share in its oil pipeline firm on Monday. The company hoped to raise $825 million through the largest IPO ever for East Africa. This sale is part a campaign by the government of President William Ruto to divest state companies in order to raise money for new infrastructure and sovereign wealth funds. The government is also selling its stake in the?telecoms company Safaricom. Documents indicating the IPO price for Kenya?Pipeline Company showed that the government set the price at nine shillings a share. The sale will run until February 19 and the shares will be listed for trading on the Nairobi exchange on March 9. Kenya Pipeline IPO is the largest in the region, surpassing the initial sale of Safaricom to the public that the government made in 2008 for?50 billion shillings. The announcement comes as the equity capital markets are recovering globally and stock markets have reached record highs. According to LSEG data, equity capital markets activity will total $738.4 billion by 2025. This is a 15% increase year-on-year. It marks the highest annual period of global equity?capital market activity in four years. Over a fifth was raised by European, Middle East and African issuers through equity capital markets offerings.
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Reports from RTVE show that the death toll in Spain due to a high-speed train crash has risen to 39.
According to RTVE, citing sources from the police, the death toll in Sunday's collision of a derailing high speed train with a second approaching train has risen?to?39, while 152 others were injured. The accident occurred at 7:45 pm local time (1845 GMT), on Sunday, near Adamuz. This is about 360 km south of Madrid. RTVE reports that over 200 trains between Madrid, southern Andalucia and major cities Cordoba and Seville were cancelled on Monday. In a Monday statement, his office announced that Prime Minister Pedro Sanchez had set out "his agenda" for the day. On Sunday, a video from the scene was shared on social media. It showed rescuers pulling people from the sideways twisted carriages under the floodlights. Some passengers were able to climb out of the smashed window, while others had to be wheeled on stretchers. Around 400 passengers were on both trains. Most of them were Spaniards returning to Madrid from the weekend. As January is not a holiday season in Spain, it was unclear how many tourists might be on board. At a press briefing held at the Atocha Station in Madrid, Spanish Transport Minister Oscar Puente said that it was not yet clear what caused the crash. (Reporting and editing by David Latona; Victoria Waldersee)
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A lawyer files an impeachment case against Philippine President Marcos
On Monday, a lawyer filed an impeachment petition against Philippine President Ferdinand Marcos Jr. He accused him of slandering the public by allowing his predecessor Rodrigo Duterte be arrested and brought to The Hague for trial. Andre De Jesus filed the complaint in which he described Duterte's actions as "kidnapping", echoing the story of the family of the former President. Duterte was taken in March to the International Criminal Court at the Hague for the thousands of murders committed during his controversial drug war. The complaint accuses Marcos of constitutional violations, failure to act on alleged corruption involving flood control project, and not answering allegations about?drug abuse that raise questions about his ability to govern. De Jesus, in comments made by DZRH on X radio, told reporters that "we felt this avenue would allow not only myself as a complainant... but 'the Filipino people' to thrash all these issues which are raised and not?answered by the President?and his Cabinet and his officers." Marcos's office stated that it respected this democratic process, and that they "trust Congress as a coequal branch to discharge its duties honestly, with integrity and fidelity to rule of law." The presidential communications office issued a statement saying that "while these processes are taking their course, President will continue to rule, ensuring that public services remain uninterrupted, and that government work remains focused on improving our people's lives." The filing comes nearly a full year after the lower chamber impeached Sara Duterte. She was Marcos' estranged vice president and the daughter of his predecessor. The Supreme Court later ruled that the impeachment had violated the Constitutional one-year bar. The lower house of Congress is no longer led Martin Romualdez who was Marcos' cousin and resigned from his position as House Speaker after being implicated in the corruption scandal surrounding flood control. However, the majority of the members are still the president's cronies. This raises doubts that the complaint against him will gain any traction. Marcos was elected in 2022 and has a six-year mandate. The Constitution prohibits him from running for reelection in 2028. He will have about two years left in office. Sara Duterte, his vice president, is widely considered a strong candidate for the presidential race in 2028. (Reporting and editing by Karen Lema)
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A lawyer files an impeachment case against Philippine President Marcos
On Monday, a lawyer filed an impeachment against Philippine President Ferdinand Marcos Jr. He accused him of betraying the public's?trust in allowing Rodrigo Duterte be arrested and then?taken back to The Hague for trial. The complaint filed by Andre De Jesus described Duterte's actions as "kidnapping", echoing the story of the family of the former President. Duterte was taken before the International Criminal Court at the Hague, in March, for the thousands of murders that took place in his controversial war against drugs. Marcos is also accused of violating the constitution by failing to act on alleged corruption involving flood control project and not answering allegations of drug abuse. De Jesus, a reporter at DZRH Radio, said: "We felt that this avenue would 'enable not only myself as a complainant... but also the Filipino people to thrash 'out all these issues which are being raised and for which the President and his cabinet and officers have not given any answers." Marcos's office did not respond immediately to a comment request. The filing is nearly a full year after the lower house impeached Sara Duterte. She was Marcos' estranged vice president and daughter of Marcos predecessor. The Supreme Court later ruled that the impeachment had violated the Constitution's rule of one year. The lower house of Congress, although no longer led by Marcos’ cousin Martin Romualdez who resigned from his position as House Speaker following being implicated in the corruption scandal surrounding flood control, is still dominated by allies of the president, raising doubts that the complaint against him will gain any traction. Marcos was elected in 2022 and has a six-year term. The Constitution prohibits him from running for reelection in 2028. He will have about two years left in office. Sara Duterte, his vice president, is a popular candidate for the presidential election in 2028. (Reporting and editing by Karen Lema)
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IndiGo shares increase as investors shrug off record $2.45 Million fine
IndiGo shares rose up to 3.8% Monday, as investors shrugged off a $2.45m fine, which Jefferies analysts called a relatively modest penalty in light of the mass cancellations last month. The airline cancelled 4,500 flights during the first weeks of December. This left tens and thousands of passengers stranded across the country, and highlighted concerns about the lack of competition in 'the fastest-growing aviation industry in the world. Indigo's share price plummeted 14.2% in October, the steepest drop since?October 2020. Jefferies stated in a report that "Fines look modest, probably?because of regulatory caps." "Focus shifts now to DGCA’s subsequent guidance on normalisation of schedules, once compliance milestones & systematic reforms have been independently validated." The fine is equal to 0.31% of the annual profit for fiscal year 2025. After a series of mass cancellations of flights last month, the Directorate General of Civil Aviation also?issued warnings and ordered India's largest airline? to remove its head of operations control from his position. The regulator stated that a DGCA investigation found several deficiencies in the airline following the implementation of stricter 'pilot rest and duty' rules last year.
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Five people are reported dead after two high-speed trains crash in Spain.
The rail network operator said that two high-speed trains?derailed?on a Sunday in southern Spain. State-run RTVE?channel reported five deaths, citing sources from the police. Accident near Cordoba, near Adamuz. RTVE reported that an unknown number of passengers were injured. The Iryo 6189 Malaga-to-Madrid train derailed at Adamuz and crashed onto the adjacent track. "The (Madrid to?) Huelva train, which was traveling on the adjacent track, has also derailed," Adif said in a social media post. Adif said the accident occurred about ten to fifteen minutes after the Iryo left Malaga, heading towards Madrid. This was at 6:40 pm (1740 GMT). Iryo, a private Italian rail operator, is based in Italy. The company didn't immediately respond to our request for comment. Adif has suspended rail services between Madrid Andalusia. Andalusia's emergency?services announced on social media the halting of all rail traffic and that emergency services, including nine ambulances?and emergency support vehicles?were on their way. Salvador Jimenez shared photos of the train's rear carriage lying on its back, and evacuated passengers sitting along the side.
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Committee approves bill to allow Uber and Lyft in Israel
A committee of Israeli ministers approved on Sunday a law allowing shared ride hailing services like Uber and Lyft in Israel to operate in an effort to reduce taxi fares. The Transportation Ministry has proposed a reform that would allow "technology-based transport operators" to use models used successfully globally. However, this law still requires full approval from the Parliament. The Ministry noted that the Shared Transport Law, approved by the "Ministerial Committee for Legislation", would allow companies like Uber and Lyft to offer services via smart apps that connect private drivers and passengers. It was said that the move would increase transportation availability, especially during weekends and peak hours, as well as lower fares. The statement added that these?services are available in dozens of countries around the globe "and it is now time for them to be available in Israel." The law contains strict safety regulations, driver screenings, insurance coverage, and oversight of vehicle condition, as well as a mechanism to support the existing taxi industry?to ensure an equitable transition. Uber operated briefly in Israel, but only as a taxi service. It was shut down in 2023. Uber and other similar companies are not welcome in Israel. The new law is "a historic step" that will demolish outdated monopolies and create thousands of jobs. It will also open the market up to true competition, which benefits the public, said Transport Minister Miri Regev. She noted that the reform of shared rides would reduce traffic, remove private cars, and give citizens the ability to travel easily at a reasonable price. (Reporting and editing by Steven Scheer)
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Officials say at least 5,000 people have been killed in the unrest in Iran, while the judiciary suggests executions
An Iranian official in the area said that at least 5,000 people were killed during protests in Iran. This included 500 security personnel. The figures were verified and the official accused "terrorists" and "armed rioters", of killing "innocent Iranians". On December 28, nationwide protests over economic hardship erupted. They grew over the next two weeks to include widespread demonstrations demanding the end of the clerical regime, resulting in one of the deadliest civil unrests since the 1979 Islamic Revolution. Donald Trump, the U.S. president, has repeatedly warned that he would intervene if protesters were killed or executed on the street. In a post on social media, Trump thanked Tehran leaders for cancelling scheduled mass executions. State media reported that Ayatollah Khamenei, the Supreme Leader, said on Saturday: "We won't drag our country into war but we won't let domestic or foreign criminals go unpunished." The judiciary hinted that executions could take place on Sunday. Asghar Jahangir, the Iranian judiciary's spokesperson, told a recent press conference that "a series of actions has been identified as Mohareb which is one of the most severe Islamic punishments". Iranian law punishes mohareb (a legal term in Islam meaning to wage war on God) with death. In an interview with Politico published on Saturday, Trump stated that "it is time to find new leadership for Iran". Khamenei - Iran's supreme authority - accused the country's longtime adversaries, the U.S., and Israel, of organising violence. He acknowledged "several thousands deaths". HRANA, a rights group based in the United States, said that on Saturday 3,308 deaths had been confirmed and 4,382 other cases are being investigated. The group confirmed that it had confirmed over 24,000 arrests. According to an Iranian official, the confirmed death toll is unlikely to be much higher. The official stated that the final death toll was not expected to rise sharply. He added that "Israel" and "armed groups abroad", had supported and outfitted those who took to the streets. The clerical elite regularly blames unrest in Iran on foreign enemies. These include the United States, Israel and other arch-foes of the Islamic Republic. Israel was the first to launch military strikes against Iran back in June. HIGHEST DEATH TOLL IN KURDISH AREAS The Iranian official who refused to be named because of the sensitive nature of the matter, said that some of the most violent clashes, and the highest number of fatalities, occurred in the "Iranian Kurdish" areas of the country's northwestern region. Kurdish separatists are active in these areas, and past unrest has seen violent flare-ups in the region. Three sources informed? Three sources told? Hengaw, a Kurdish rights organization based in Norway, has stated that some of the most violent clashes occurred in Kurdish regions in the northwest during the protests which erupted late December. According to state media and residents, the violent crackdown has largely quelled protests. Internet blackouts have made it difficult to get information. They were lifted in part for a few early hours on Saturday. Internet monitoring group NetBlocks reported that the blackout appeared to have been reinstated late Saturday. (Reporting and Editing by Edmund Blair; Louise Heavens, PhilipaFletcher, Philipa Fletcher).
Reports say that at least 11 children were killed in a minibus crash in South Africa.
South African media reported that at least 11 schoolchildren died on Monday morning after a minibus collided with a truck in a city south of Johannesburg.
The South African Broadcasting Corporation, a public broadcaster, said that five other students sustained "critical" injuries in the incident. They were on their way to a hospital for urgent medical treatment.
The emergency services are at the scene.
The government of South Africa is working to improve the country's road safety record.
According to the data released last week, there were 11,418 road fatalities in Canada during 2018. This is 6% less than the number of 2024.
According to the Transport Ministry, reckless driving such as speeding and drinking while driving are amongst the leading causes of road fatalities.
Last week, Transport Minister Barbara Creecy said it was time for a change in the law. She suggested that the legal limit of alcohol consumption while driving be scrapped and replaced with a zero tolerance approach.
(source: Reuters)