South-East Asia

The Iran War is driving up fuel prices and disrupting airspace, while airlines try to cushion the impact with higher fares. The International Air Transport Association's (IATA) annual meeting, which takes place from June 6-8, coincides with the fuel crisis and another issue that airlines are unable to quickly solve: a lack of new aircraft. Boeing and Airbus delays in delivering jets have forced some carriers to continue using older, less-fuel-efficient aircraft for longer. This has increased maintenance costs and fuel costs, just as oil prices are rising. IATA, the trade association for more than 370 airlines that account for...

The Iran 'war' is driving up fuel prices and disrupting?airspace?, while carriers are trying to cushion the impact with higher fares. The International Air Transport Association's (IATA) annual meeting, which takes place from June 6-8, coincides with the fuel crisis and another issue that airlines are unable to quickly solve: a lack of new aircraft. Boeing and Airbus delays forced many carriers into keeping older, less fuel efficient jets in service longer. This increased maintenance and fuel costs at a time when oil prices were rising. IATA, the trade association for more than 370 carriers that account for 85% of...

Industry sources claim that Qantas has been in talks with aircraft manufacturers about a potential order for 20 wide-body Airbus or Boeing jets. Sources who declined to be identified as the discussions are confidential said that the 'Australian carrier is 'considering additional Boeing 787s, or the'main -variant?of Airbus A350. Airbus and Boeing declined comment. Qantas' spokesperson stated: "We are in regular contact with the aircraft manufacturers to plan our fleet and we always update the market when there is something new to announce." We have no orders or updates to announce at this time. Airlines have expanded their wide-body fleets...

The Middle East is gradually getting back some of its flights as regional carriers rebuild their schedules following war-related disruptions, but the conflict continues to disrupt wider traffic flows. Middle Eastern airlines are adding capacity following the severe disruption caused by the Iran War, while many carriers outside of the Gulf continue to divert Europe-Asia flight to avoid the Middle East. The latest flight information is listed below alphabetically: AEGEAN AIRLINES Thessaloniki-Tel?Aviv flights were cancelled by Greece's biggest carrier until June 26. Dubai flights are cancelled up until August 31. Erbil, Baghdad and Erbil flights will be cancelled until July...

Singapore Airlines (SIA), according to two industry sources, is in discussions with Airbus and Boeing about buying at least '50' of the?largest jets of the industry. This will be part of a?next growth phase starting next decade. They said the Southeast Asian carrier was looking for offers to purchase more 400-seat Boeing 777Xs, the largest model in the industry, or the slightly smaller Airbus A350-1000s. The talks are still in their early stages but may include options to purchase dozens of additional jets. SIA stated that it reviews fleet'renewal plans regularly and refused to comment on any "confidential discussions" we...

The Middle East is slowly getting back on the map as airlines rebuild their schedules following the war disruptions. However, the conflict continues disrupting wider traffic flows. Middle Eastern airlines added capacity following severe disruptions linked to the Iran War, but many carriers outside the Gulf still divert Europe-Asia flight to avoid the Middle East. The latest flight information is listed below alphabetically: AEGEAN AIRLINES Greece’s largest carrier has cancelled flights between Thessaloniki and Tel 'Aviv until 26 June. Dubai flights are cancelled through August 31. Erbil and Baghdad flights will be canceled until July 2. AIRBALTIC AirBaltic, a Latvian...

As regional carriers rebuild their schedules following war-related disruptions, some airlines are slowly restoring flights to the Middle East. However, the conflict continues disrupting wider traffic flows. Middle Eastern airlines increased capacity following severe disruptions linked to the Iran War, but many carriers outside the Gulf still divert Europe-Asia flight to avoid the area. The latest flight information is listed below alphabetically: AEGEAN AIRLINES Thessaloniki-Tel Aviv flights are cancelled until June 26 by Greece's largest airline. Dubai flights are cancelled until August 31. Erbil and Baghdad flights will be cancelled until July 2. AIRBALTIC AirBaltic, a Latvian airline, has announced...

As regional carriers re-build their schedules following war-related disruptions, some airlines are gradually restoring flights to the Middle East. However, the conflict continues disrupting wider traffic flows. Middle Eastern airlines have increased capacity following severe disruption caused by the Iran War, but many carriers outside of the Gulf still divert Europe-Asia flights to avoid the area. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest airline in Greece has cancelled flights between Thessaloniki and Tel Aviv up until June 26. Dubai flights are cancelled until August 31. Erbil, Baghdad and Erbil flights will be cancelled until July...

Middle Eastern carriers increased capacity following the disruption caused by the Iran War, and airlines outside the Gulf have rerouted flights between Europe?and Asia away from major hubs in that region. The latest flight information is listed below alphabetically: AEGEAN AIRLINES On May 21, Greece's biggest carrier will resume flights from Heraklion to Tel Aviv, as well as Rhodes and Larnaca. Thessaloniki-Tel Aviv flights are cancelled up until June 26. Erbil, Baghdad and Dubai flights are all cancelled until August 31. AEROFLOT The Russian flag carrier announced that it will resume flights to?the United Arab Emirates? from June 1. AIRBALTIC...

Air India, India's second largest?airline will reduce domestic flights by?22% in June and July, according to a source familiar with its plans. The industry is grappling with an increase in jet fuel prices in response to the Iran War. These cuts come after the airline reduced its international routes to create room for foreign carriers to increase flights into and out of India. Air India announced in a?statement that between June and August, it "temporarily streamlined operations on certain domestic route" These adjustments are a result of the impact that high fuel prices have had on operations. Air India will...

Middle Eastern carriers increased capacity following the disruption caused by the Iran War, and airlines outside of the Gulf have rerouted flights between Europe and Asia to avoid major hubs within the region. The latest flight information is listed below alphabetically. AEGEAN AIRLINES On May 21, Greece's largest airline will resume its flights from Heraklion to Tel Aviv, as well as Rhodes and Larnaca. Thessaloniki-Tel Aviv flights are cancelled until June 26. Erbil, Baghdad and Dubai flights are all cancelled until July 2nd. AEROFLOT The Russian flag carrier has announced that it will resume flights to the United Arab Emirates...

Air India CEO Campbell Wilson stated on Thursday that the next Air India CEO will have "a lot on their plate" as they deal with the fallout of the Iran War, a ban to use the?airspace of Pakistan and a strong dollar. Wilson announced that he will be leaving in two months. Wilson said at a New York luncheon event that the next four years will be challenging, but in a new way. "The person who takes over will be busy, but I want to ensure that the right person has been put in place to continue this." has reported...

Two industry sources have confirmed that Trafigura, the commodity trader, plans to remove large amounts of copper from London Metal Exchange's warehouses in New Orleans. They cited a U.S. Tariff decision expected late in June. Trafigura, a Swiss company, declined to comment. The traders have moved large volumes of copper into the United States to prepare for possible import taxes that could increase shipping costs. The threat of import levies has increased the value for existing copper stocks, as holding copper in the United States allows customers to lock in supplies at pre-tariff rates. After a review, the United States...

Rescue officials and the deputy transport minister reported that at least eight people died and 32 others were injured after a train struck a bus in Bangkok and ignited a fire. Officials said that firefighters and rescue crews responded to the incident as fires consumed the bus and vehicles nearby near the Airport Rail Link station in Makkasan. They added that the crash involved motorcycles and cars. According to preliminary reports, the bus was stopped "on the tracks" at a red signal, which prevented the crossing barriers from closing. Deputy Transport Minister,?Siripong, Angkasakulkiat, told reporters that the preliminary reports indicated...

A notice published by the London Metal Exchange on Thursday showed that China's Tsingshan Group has applied to have aluminium produced at its Hua Chin joint venture in Indonesia?available for delivery?on the London Metal Exchange. Hua Chin - where Tsingshan and Huafon Group are partnered by fellow Chinese company Huafon Group - would be the only Indonesian brand of high-grade primary aluminum to be accepted by LME, after state-owned Inalum. * The application is being made as Indonesia ramps up production and exports, potentially compensating shortages caused by war in the Middle East. According to a LME notice, the second...

Australia's?AirTrunk?said Thursday that it would invest $3 billion in?building two hyperscale?data?centers?in Malaysia, doubling its existing business there. The two data centres, which will be located in Johor Bahru have a combined power of over 280 megawatts. They are also close to the existing AirTrunk data center campuses. AirTrunk said that the four data centers would have a capacity of more than 700 Megawatts and the investment value in Malaysia will be $6.8 Billion. AirTrunk CEO Robin Khuda said that the demand for cloud-based AI infrastructure in Asia-Pacific was growing faster than expected. "Our job is not only to be ahead...

The 'London High Court' refused to allow Indian businessman Prateek gupta, who was found guilty of defrauding commodities trader Trafigura by using fake nickel cargoes. The Geneva-based 'Trafigura' alleged that Gupta had been the mastermind behind a fraudulent "Ponzi Scheme" where he and his firms agreed to deliver high-quality nickel 99.8% but delivered low-value materials or even worthless ones instead. Gupta admitted he didn't deliver high-grade Nickel cargoes, but said Trafigura?staff designed the scheme. Former Trafigura head nickel trader Sokratis Oikonomou denies this. Last month, Judge Pushpinder Saini found that Gupta's companies and Gupta had induced Trafigura to sign contracts...

Wall Street's love for artificial intelligence giants is cooling, and some investors are shifting their focus to infrastructure companies, which they believe will benefit from AI spending. This shift has spawned a number of new products. Shares of AI tech giants like Alphabet and Amazon have seen sharp drops after huge gains over the past few years. Investors are worried that returns on their "massive investments" in developing smarter AI system won't justify these lofty valuations. Asset managers say that investors should focus on companies receiving the checks, such as chipmakers, data centers, and utility firms, which provide the nuts...

Trafigura has won its London case against Indian businessman Prateek?Gupta regarding fake nickel cargoes on Friday. The High Court of London ruled in favor of the commodities 'trader. Trafigura, a Geneva-based company, claimed that Gupta and his companies were the masterminds of a fraudulent Ponzi scheme??in which they agreed to deliver high-quality nickel 99.8% but instead delivered low-value materials or even worthless ones. Gupta acknowledged he didn't deliver high-grade Nickel cargoes, but claims Trafigura staff designed the scheme. Former Trafigura head nickel trader Sokratis Oikonomou had denied this in his testimony given in November. Judge Pushpinder Saini ruled Trafigura had...

Data from the London Metal Exchange showed that the share of China-made Copper among the available London Metal Exchange stock fell in December. This was due to the outflows?of the inventory in the LME registered?warehouses?in Asia. The percentage of copper stocks that are available - or those on warrant The data revealed that 79% of the - in LME's warehouses were of Chinese origin at the end last month. This was down from 85%?in November. A LME warrant is an ownership document. The absolute number of Chinese copper stock on the LME dropped to 87,475 tons by the end last...

Indian businessman Prateek gupta was accused of orchestrating a $600m metals fraud by commodity group Trafigura. He told a court in India on Friday that he didn't know who within his companies had allegedly made fake documents for selling the same cargo to multiple customers. The long-running trial concluded on Friday with the testimony. It will resume again on December 10, for closing arguments. Trafigura, a Geneva-based company, sued Gupta in more than two years. It claimed that he had orchestrated a ruse where he and his firms agreed to deliver pure nickel instead of steel or scrap. Trafigura's lawyers...

Lawyers at Trafigura said that Prateek Gupta’s claims that the group devised a secret plan to exchange expensive nickel for low value metals are full of contradictions. The Indian businessman was giving evidence in an ongoing fraud case. Trafigura, a Swiss commodity trader, sued Gupta two years ago. It claimed that he was behind a scam where he and his firms agreed to deliver pure nickel but instead delivered scrap steel or other metals. Gupta countered by claiming that Trafigura staff themselves designed the scheme at the heart of the case. Trafigura, however, has denied this claim repeatedly. Gupta, who...

Lawyers for Trafigura accused Prateek gupta, an Indian businessman who gave his first testimony on Wednesday, of a long history of fraud. Gupta admitted that he was under investigation for fraud in India but denied these allegations when he appeared in the High Court of London. Trafigura, a Swiss company, sued Gupta two years ago. It claimed that he was behind a scam where he and his firms agreed to deliver pure nickel but instead delivered scrap steel or other metals. Nathan Pillow, a Trafigura lawyer, cited two more fraud cases in which low-value metals were substituted with nickel. Gupta...

China Gas Holdings, a privately-controlled city gas distributor, has hired an ex-senior trader of the Chinese utility GCL Group as its head of global natural gas sales. Xiong Xin was the head of gas trading for GCL New Energy Holdings (a unit of GCL Holdings), a solar power company, until early 2024. He joined China Gas in Oct. Xiong has nearly a decade's worth of experience in trading at the state oil giant CNOOC, and privately owned Chinese gas company ENN, before he joined GCL. He now heads China Gas’ growing liquefied gas trading business, as well as liquefied petrol...