Latest News
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Air France-KLM offers to buy a minority stake in Portugal’s TAP airline
The franco-dutch airline group, 'Air France-KLM' announced a non-binding bid to purchase a minority stake of TAP Air Portugal as the Portuguese Government moves forward with its plans to privatise their 'flag carrier. Air France-KLM was the first of three European airline groups that bid on a stake in TAP as Lisbon looks to sell as much as 49.9%. British Airways' owner IAG, and Germany's Lufthansa also expressed interest in participating in the privatisation of the airline. "Our aim is to'strengthen operations in Lisbon and 'develop connectivity in other cities throughout the country, including Porto. Benjamin Smith, CEO of Air France-KLM, said that he was looking forward to the next steps in the privatization process. (Reporting and editing by Louise Heavens, Milla Nissi Prussak, and Gianluca Nostro)
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Kazmunaygaz says new mooring unit for CPC delivered, IFX reports
Interfax reported that Kazakhstan's state-owned energy company, Kazmunaygaz, has delivered a "new single point mooring" (SPM) for the consortium terminal of the Caspian Pipeline in the Black Sea. For offshore tanker loading, three SPMs are used. These floating buoys are located approximately 5 km (3 miles) from the Yuzhnaya Ozereevka CPC Terminal near the Russian port of Novorossiysk. Two are usually active with one acting as a backup. SPM-2 is still offline after sustaining?significant damage in an attack that occurred late November. CPC will replace mooring. CPC is responsible for about 80% Kazakhstan's oil imports. Its 'operations' have been interrupted at different points during the 'war in Ukraine, by Ukrainian attacks on?pumping station in Russia and drone strikes near its loading terminal near Novorossiysk along Russian Black Sea coast. The terminal is responsible for 80% of Kazakhstan's crude oil exports and 1.5% of the global oil supply. (Reporting and writing by Ksenia orlova, Maxim Rodionov, Editing by Emelia sithole-Matarise).
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Uganda's budget forecasts for 2026/27 will increase by 16% annually
The finance ministry announced that Uganda will spend $84.3 trillion (22.65 billion dollars) during the fiscal year 2026/27, which runs from July to June. This is an increase of 16% compared to the?72.4 trillion ($22.65) shillings spent in the previous fiscal year. The new estimate is 7.8% higher than the previous estimate for 2026/27 and will prioritize projects in the transportation sector, the Finance Ministry said?on X on late Wednesday night after Henry Musasizi presented the proposed budget for parliamentary?scrutiny? and approval. The Ministry did not provide a reason as to why the funding was increased, but said that the top projects in this period were the expansion of the Standard Gauge Railways (SGR), the planned 95-kilometre Expressway linking the capital with Jinja City in the East and the extension of power into industrial parks. The expressway, estimated at $1 billion, is part of the Northern Corridor, an East African transport corridor connecting Kenya's coastline to a vast hinterland, including Uganda, Rwanda and Burundi. Uganda is developing a 272 km (169 mile) rail line, worth 2.7 billion euros ($3.1 billion), that will connect with Kenya's SGR. This will help lower the cost of shipping a country's products via the Indian Ocean port of Mombasa.
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Malaysia Airlines reports higher earnings by 2025, but Middle East conflict clouds the outlook
Malaysia Aviation Group (the 'operator of Malaysia Airlines) reported higher profits in 2025, but warned on Thursday that the market volatility caused by the conflict in Middle East could affect its performance this year. The Iran War, which has lasted for a month, has caused a global aviation shake-up. A sharp rise in jet fuel prices prompted airlines to raise fares and reduce?capacity. MAG, which is owned by Malaysian sovereign fund Khazanah Nasional reported a 'net profit after tax and interest of 137 million ringgit (US$34.08million) for 2025 compared to a '54 million ringgit ayear earlier. The revenue of the company?in 2025 will increase by?6%, to 14.5 billion Ringgit. MAG President and Group Chief Executive Officer Nasaruddin Bakar said that geopolitical uncertainty continues to affect supply chains and cost structures. However, travel demand remains strong, especially from India and China, as well as on routes to Australia and New Zealand. He said, "Fuel is so volatile. But we're prepared and will make sure our products and assets are ready to fly." Nasaruddin stated that MAG's low-cost airline Firefly was actively reviewing and adjusting fares. He added?that it is estimated that the company will see a financial effect of 50 million ringgit for every dollar increase in oil _prices. Malaysia Airlines suspends all flights from Doha to April 15
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Automobile industry group urges for the scrapping of US gas tax and adoption of vehicle fee
The head of a group that represents nearly all major automakers called on Wednesday for the scrapping of the 18.4 cent per gallon U.S. tax?on gas and replacing it with a vehicle charge?to pay for road repairs. John Bozzella is the head of the Alliance for Automotive Innovation, which represents General Motors (GM), Toyota, Volkswagen, Hyundai, and other major auto companies. He said that a government proposal should be used to address the growing financial shortfall within the highway trust fund. This would involve imposing a fee on each vehicle based on its weight. Congress hasn't raised the federal gas tax since 1993. As more Americans are driving EVs or more fuel-efficient cars, revenue from gas tax hasn't kept pace with highway repairs. The tax was not index to inflation and has lost over?60% in real terms. Bozzella stated that the fee would be collected in the same way as a registration fee. Bozzella stated that this policy would ensure every vehicle contributing to the maintenance of America's transportation system. Bozzella said that those who drive older vehicles, or travel long distances, are the ones who bear the financial burden. It's unfair." Since 2008, over $275 billion has been transferred from the general fund to pay for road repair. This includes $118 billion that came from the 2021 Infrastructure Law. Many Republicans are in favor of imposing a tax on electric cars to pay for road maintenance. House 'Republicans' proposed a new annual fee of $250 for EVs, and $100 hybrid EVs last year. However, it was not included in a massive spending and tax bill. The current surface transportation law, which is valid for five years, expires September 30. Some states charge EVs a fee to cover the cost of road repairs. In February 2025, some Republican senators proposed a tax of $1,000 on EVs to cover road repair costs. The majority of federally-funded road repairs are funded by diesel and gasoline taxes. EVs don't pay these taxes. The Electrification Coalition (an EV advocacy group) argued last year that a $250 charge for EVs is unfair, since the average gasoline-powered vehicle only pays $88 in federal gas taxes per year.
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US LNG exports reach record levels as Middle East conflict disrupts global supply
LSEG, a financial firm, reported that U.S. exports?of liquefied gas reached a record high in March. This was due to plants running above their nameplate capacity and the addition of new units. The number of shipments to Asia has more than doubled compared to the previous month. This is due to the Middle East conflict that has caused energy markets to be agitated and forced nearly 20% of the global LNG supply to go offline. Customers who depend on cargoes transiting the Strait of Hormuz have been forced to find alternative sources of LNG. The data shows that exports in March increased to 11,7 million metric tonnes, up from 9,94 million tons during February. They also surpassed the previous monthly record of 11 million tons set in December. QatarEnergy stopped LNG production following an Iranian attack on its facilities in the last month. The company has said that the outage may affect more than 12,000,000 metric tons of LNG per year for up to 5 years. The United States is the world's largest?LNG exporter The U.S. has the largest LNG exporter in the world. Its commercial model is based on flexible cargoes with destination options that buyers, many of whom have long-term contracts or locked-in supplies, can redirect to any markets. Most producers don't have a lot of spare capacity. "We're doing everything we can to help." We're looking closely at our maintenance schedules, but at the end, we need to be safe, and reliable. Jack Fusco said that the CEO of U.S. top exporter Cheniere, Jack Fusco, did not want to compromise anything in order to extract every last drop. However, some new U.S. capacity has begun ramping up. QatarEnergy's and Exxon Mobil’s Golden Pass LNG Project started output from its train which has a capacity of 6,000,000 tons per year, and Cheniere began production from the 1.5 mtpa Train 5 in its Corpus Christi Midscale Expansion. These additions could mean that March's record will be broken again in the near future. EUROPE RETAINS THE LARGEST BUILDERS The higher prices in Asia have helped to bring more U.S. gas into the region. In March, the average price of Asian spot LNG was $21.65 per million British Thermal Units. This compares to $16.17 for Dutch benchmark TTF. LSEG's ship tracking data shows that U.S. shipments to Asia increased by more than twice the amount of 970,000 tons shipped in February. Last month, Europe was the biggest buyer of U.S. LNG, taking in 7.49 million tons, or 64% of all March exports. This was slightly less than the 7,66 million?tons?shipped during February. LSEG data showed that more than 1 million tonnes of U.S. Liquefied Natural Gas (LNG) departed from the United States in March are currently signaling or idling at the entrance to Suez Canal. Eleven vessels with 880,000 tons of LNG are at sea waiting for a destination. Four carriers, totaling 280,000 tons, are anchored near the entrance to the Suez Canal. Egypt continues to purchase significant volumes. In March, it received 620,000 tonnes. The data revealed that South Africa and Jordan both took one shipment. The number of shipments to Latin America dropped to 430,000 tonnes in March, down from 520,000 tons the previous month. Curtis Williams, Houston (reporting) and Nathan Crooks & Andrea Ricci (editing)
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Petrobras lets distributors pay in installments for a 55% increase in jet fuel
Petrobras, the state-owned oil company in Brazil, said that it would allow distributors to pay in installments for a hefty increase announced in April's jet fuel price. Petrobras announced a 54.8% increase in jet 'fuel prices following the spike?in oil prices attributed to the U.S. and Israeli war against Iran. Petrobras stated in a press release that paying in installments would help to mitigate the impact on customers of the price hike while maintaining "financial neutrality" for the company. The oil firm said that distributors who supply airlines will face a'smaller 18% price increase in April and be allowed to pay the remainder in six instalments starting in July. Petrobras, the world's largest oil company, is responsible for the majority of refinery activity in Brazil. Reporting by Rodrigo Viga Gaier, Gabriel Araujo, and Andre Romani, in Sao Paulo. Editing by Louise Heavens.
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French Navy chief: China must engage in Strait of Hormuz discussions
France's Navy Chief said that China will at some point need to be more direct in restoring oil traffic flow through the Strait of Hormuz, as the number of vessels going through the Strait is likely to be inadequate. "We haven't seen the Chinese navy intervene to reopen this strait. There is a direct political discussion between Chinese and Iranian officials to allow a certain number vessels to pass. Will this be enough to restore normal flow of traffic? I don't believe that, said Admiral Nicolas Vaujour at the War & Peace Security Conference in Paris. "As a consequence,?China is likely to have to engage in more direct?the discussion and show its impatience at the fact that the Strait remains closed." Vaujour stated that France is working to get a number countries to the same table on a political level to first determine the conditions in which the strait can be reopened?in a permanent way. They were studying the Agenor mission, which was led by the EU and operated in the Strait of Gibraltar. He said that the military was also assessing if mines had been buried and would have to be "cleared". "This is not just a French question. This is a question that concerns all of our partner countries: Gulf States, the United States, and other European 'countries. It is a matter we are working on, if mining is confirmed. This hasn't been done yet. (Reporting and editing by Dominique Vidalon, Daniel Wallis, and John Irish)
US Admiral Leading US Troops in Latin America to Step Down
Admiral John F. Kelly, commander of U.S. forces in Latin America, will retire on Friday two years earlier than planned. This is due to the rising tensions with Venezuela.
Three?U.S. Two people who are familiar with the situation and three?U.S. Hegseth was said to have grown frustrated by Southern Command's efforts to expand U.S. military planning and operations in the region.
A senior official confirmed that the discussion about whether Hegseth was going to dismiss Holsey began roughly two weeks prior to his surprise departure.
Holsey's early retirement has not been explained publicly. Some officials privately speculated that he was against recent U.S. attacks on suspected drug ships in the Caribbean. According to Politico, Holsey claimed that in a meeting held behind closed doors with senior lawmakers, his decision had nothing to with the operations under his command.
Holsey's deputy, Air Force Lieutenant General Evan Pettus will officially take over the command of U.S. Southern Command during a Friday morning ceremony. Pettus will be the acting head of U.S. Southern Command.
According to a source with knowledge of the situation, President Donald Trump will nominate Lieutenant-General Frank Donovan as Holsey’s permanent successor. The source warned that the nomination was not finalized yet and could still change.
Holsey’s premature retirement is not only rare, but also not unprecedented. In 2008, Central Command Commander Admiral William Fallon retired after a year of overseeing U.S. forces in the Middle East. He had made comments about Iran and other issues which irked Bush administration.
Holsey's departure is the latest of a number of senior officers who have left their posts since Hegseth assumed control over the Pentagon. C.Q., the Chairman of the Joint Chiefs of Staff and others have left abruptly. Brown and Lisa Franchetti who was the top naval officer at the time, the first woman in that position, were both sacked.
MONROE DOCUMENT REVIVAL?
Holsey leaves as Trump signals a major shift in foreign policy. This week, a strategy document called for reviving 19th century Monroe Doctrine that declared the Western?Hemisphere Washington's zone.
The U.S. has increased its military presence in the Caribbean, including deploying an aircraft carrier strike force. This policy change is also reflected by the new U.S. deployments of training to a revived jungle?school?in Panama.
Trump has increased pressure in recent months on Venezuelan president Nicolas Maduro. Washington accuses Maduro of drug trafficking, which Maduro denies. Maduro says the U.S. military buildup is aimed at toppling him and grabbing Venezuela's oil.
The U.S. Coast Guard seized an oil tanker from Venezuela on Wednesday, the first time the country has interdicted Venezuelan crude oil since the U.S. sanctions have been in place.
Trump's military actions against alleged drug traffickers have come under scrutiny after a decision on September 2 to launch a second attack on a suspected boat of drugs in the Caribbean.
The Law of War Manual of the Defense Department forbids attacking combatants who are incapacitated or unconscious, or those who have been shipwrecked as long as these individuals abstain from hostile acts and do not try to escape. The manual lists firing on shipwreck survivors among the "clearly unlawful" orders that should be rejected.
The Trump administration has described the attacks as an attack on drug cartels. They have called them armed groups, and said that the drugs brought to the United States killed Americans. (Reporting and editing by Ros Russell; Additional reporting by Idrees Al; Reporting by Phil Stewart)
(source: Reuters)