Transport Infrastructure

The Panama Supreme Court annulled CK Hutchison’s contract last week to operate two Panama Canal Ports. This was part of a deal worth $23 billion to sell all the global port assets owned by the Hong Kong-based conglomerate. Court said that the contract of Panama?Ports Company, a subsidiary of CK Hutchison, violated Panama’s constitution because it gave the company exclusive tax benefits and privileges. What We Know: CK 'Hutchison is controlled by Hong Kong’s richest man Li Ka -shing. In March last year, a deal was announced that covered 43 ports in '23 countries', 'including two near the Panama Canal',...

The Federal Aviation Administration finalized on Friday a rule that will require cockpit voice recorders in all new passenger aircrafts to retain 25 hours of data by 2027, compared to the current 2-hour loop. Since 2018, the National Transportation Safety Board (NTSB) has been advocating for the change. The United States, however, is lagging behind many other countries in terms of the requirements for commercial planes. The voice recorder records transmissions, sounds and voices in the cockpit. This includes the pilots' and engine noises. It can be vital in determining why plane crashes happen. The FAA rule that was proposed...

The Panama Supreme Court ruled that a contract signed by a Hong Kong-based company in 1990 to operate the ports at the Panama Canal was in violation of the Panama Constitution and did not serve the public interest. The court released its decision on Friday, but did not explain the reasoning behind it. The decision was first reported by local TVN, and has since been confirmed by an official of the court. The decision was a win for Washington amid intensifying U.S. - China rivalry on global trade routes and President Donald Trump’s attempts to exert dominance over Latin America....

Big Tech earnings this week have been a clear message: Investors are willing to overlook spending on artificial Intelligence if it drives strong growth but will punish companies who fall short. The stark contrast in the market's?reaction? to Microsoft and Meta's earnings on Thursday was a reminder of how much has changed since ChatGPT launched the AI boom over three years ago. Microsoft lost 10% of its market value, losing more than $350 Billion, after its cloud business did not impress. Meta, however, gained 10%. Microsoft's $3.2 trillion market value still surpasses Meta's $1.86 billion, but Meta shares have risen...

Norfolk Southern reported an increase in its fourth-quarter profits on Thursday, citing a?cost control strategy amid a fluctuating freight demand and persistent macroeconomic pressure. The U.S. Surface Transportation Board sent Union Pacific's $85 billion merger proposal back to the company earlier this month for revision. Surface Transportation Board has deemed that the December merger application is incomplete. Union Pacific CEO Jim Vena, however, said the request was routine and that the deal would still be completed in the first half 2027. Mark George, Norfolk CEO, said that the rejection of the merger request was more a "procedural" issue than a...

Lunate, based in Abu Dhabi, has appointed Mohammed Hassan Alsuwaidi as its executive chairman and managing director. He will be leading the firm's global expansion strategy. Lunate manages $115 Billion in assets, and describes itself in a press release as an independent commercial partner-led alternative investing company. Alsuwaidi will help to expand its international presence, and deepen institutional capital relationships. Over the next five years, the firm plans to double its assets under management. Alsuwaidi is the founder CEO of ADQ. The fund is owned by Abu Dhabi and is the third largest sovereign wealth fund in the emirate. Since...

Norfolk Southern announced a higher profit for the fourth quarter on Thursday due to cost control. This was despite uneven freight demand, and a persistent macroeconomic stress. The results come after the U.S. Surface?Transportation?Board earlier this month returned Union Pacific's $85 billion merger proposal with the company to be revised. Surface Transportation Board has deemed Union Pacific's December merger application incomplete. However, Jim Vena, the CEO of Union Pacific, said that the request was routine and the deal is still on schedule to close in the first half of 2027. Norfolk stated in October that it anticipated future top-line fluctuations...

Trump's administration has suspended funding for the new $16. The Trump administration's suspension of funding for a new $16? In October, President Donald Trump announced that he had cancelled the project. His Republican administration has repeatedly targeted transit and infrastructure projects that are in Democratic-led States. At a Tuesday hearing, the Gateway Development Commission, a New Jersey Democrat and U.S. Rep. Josh Gottheimer said that the project would be suspended on the 6th of February if Trump did not restore funding approved under the former administration of?former president Joe Biden. He claimed that about 1,000 workers would lose their jobs...

Meta Platforms, the parent company of Facebook, will pay Gorilla Glass manufacturer Corning up to $6 billion in the coming years as part of a deal for fiber-optic cable supply for its AI data centres. Meta will be the main customer of Corning's advanced optical fiber, cables and connectivity products. Corning is also expanding its manufacturing capabilities in North Carolina including its cable factory in Hickory. Corning's optical connector products are among the key components needed to support massive computing and data transmission needs at?data centres. Corning shares will surge by 84% in 2025 due to the demand for their...

United Airlines unveiled on Tuesday its largest-ever summer schedule for the?Chicago O'Hare International Airport. The airline is escalating their battle with American Airlines to gain gates and attract higher-priced passengers in the city's third-largest airport. United Airlines, based in Chicago, said it expected to run a record number of departures daily from O'Hare during the summer season. This is up by nearly 170 compared to a year ago. The expansion comes just days after Scott Kirby, CEO of United Airlines, pledged to add as many flights as necessary to prevent American from gaining extra gates at United’s expense in the...

Union Pacific, the U.S. railroad, reported results for its fourth quarter that were below analyst estimates on Tuesday. This was due to a 'volatile freight market and macroeconomic pressures', which strained its operations. Last year, the?company unveiled an A $85 billion acquisition bid It will create the nation's first coast-tocoast freight railroad. Rail unions have been vocal in their opposition to the merger, claiming that it could threaten jobs and raise costs for shippers. The U.S. Surface Transportation Board returned the proposal for revision in early?this week, citing that it was missing information. It also applied tougher competition rules after...

Ship tracking service Vortexa reported that exports of crude oil from U.S. Gulf Coast ports fell to zero on Sunday after a major winter storm swept the country. A recent Arctic blast has swept the United States, putting strain on energy grids and infrastructure. According to analyst predictions, up to 2 million barrels of oil production per day went offline over the weekend because of the cold weather. In a 'LinkedIn' post,?Samantha Santa Maria Hartke, head of?market analysis?at Vortexa said that the storm had reduced exports of liquefied petrol gas such as propane and butane to a third of seasonal...

The government's media office announced on Friday that Abu Dhabi's new sovereign wealth fund L'imad Holding has taken 'control' of ADQ. This is a major consolidation which creates 'a 'new investment heavyweight' in the wealthy emirate, under the crown prince. The board of L'imad was announced in this month's first public disclosure. It is a new investment heavyweight in the wealthy emirate under its crown prince. The Abu Dhabi Crown prince Sheikh Khaled Bin Mohamed bin Zayed Al Nahyan, the eldest child of UAE President Sheikh Mohammed, chairs it. Sheikh Khaled was appointed crown prince of the UAE in 2023....

The doors of the blue-and white trams creak as they rattle into the large square at the center of Alexandria. Many passengers can recite each stop off by heart. But the clatter of single and double-deck trams along this century-and-a-half-old ?line - a source of civic pride and transport alike for tens of thousands of daily commuters ?in Egypt's ?second city - is soon to be stopped. Next week, the authorities will begin a major renovation to replace the trams that have been in service for nearly 14 kilometers (9 miles) with a light rail system controlled digitally. This is...

Adani Airports urged India on Wednesday to relax limits on how many seats foreign carriers can sell?on flights into and out of?the country, saying that the curbs were holding back its ambitions to become a world aviation hub. These limits are part of bilateral agreements to protect domestic carriers, but they have long frustrated overseas carriers. Dubai's Emirates has, for instance, said that demand is much higher than the weekly seat limits under the India-UAE agreement. Arun Bansal, Chief Executive of Adani Airports, said that "in the short-term" bilateral agreements are limiting growth in Indian aviation. He made this statement...

Mattar Al Tayer, Chairman of Dubai's Roads and Transport Authority said that electric air taxis developed Joby Aviation will begin commercial operations in Dubai before the end of this year. Joby Aviation's first fully electric air taxi test flight in the emirate was conducted in June 2025. This is a significant milestone in Dubai's efforts?to introduce them to its existing transport networks. The Joby Aerial taxi, developed by a Californian company, is the "flagship" electric vertical take-off-and-landing aircraft. It can travel up to 160 km (100 miles), at speeds of 320km/h (200mph). Joby’s air taxi has zero emissions and is...

According to Spanish police and Turkish Airlines, a false bomb threat received via an onboard mobile connection forced a Turkish Airlines flight from Istanbul on Thursday to land at Barcelona's El Prat Airport after making an emergency landing. Turkish Airlines spokesperson stated earlier that crew had detected that a passenger created an in-flight hotspot that was named with a?bomb warning as the aircraft approached?Barcelona. The Guardia civil?police force in Spain said that after a thorough examination of the aircraft, following the disembarkation of its passengers, the alert was deactivated. No explosives were found. Spanish airport operator AENA confirmed that El...

Kazakhstan called on Europe and the U.S. to secure oil transport after drone attacks on tankers headed to a Black Sea Terminal on the Russian coast that handles 1% of the global supply. Unidentified drones attacked at least two oil tankers in Tuesday's Black Sea, including a tanker chartered by U.S. major Chevron. They were sailing toward a terminal along the Russian coast that would load oil from Kazakhstan. In a press release, Kazakhstan's foreign ministry said that three tankers had been hit on their way to the Black Sea marine terminal for the Caspian Pipeline Consortium. Drones attacked CPC’s...

Three autonomous regions of Somalia with close ties to the United Arab Emirates (UAE) have rejected a central government decision taken this week to "sever" ties with UAE, which has been a long-term sponsor. Somalia canceled all agreements with the UAE on Monday, including those in the security field. The country accused the Gulf of having undermined Somalia's sovereignty by 'training and funding' its army, and investing in its ports. Somalia has not provided any further information about its motives for this move. Mogadishu investigates allegations that the UAE escorted a separatist leader from Yemen to Somalia via Somalia. Separately...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased by almost 40% in December compared to November, reaching about 3,41 million metric tonnes. This was due to higher fuel production, and a'seasonal decline in domestic demand. Sources said that exports of ultra-low sulphur diesel via Primorsk - Russia's largest outlet for diesel shipments - grew 35% on a month-on-month basis to 1.7 millions tons as major suppliers increased output and supplies. Last month, diesel?and gasoline loadings at southern ports Tuapse?and Novorossiysk increased by?almost 60 percent compared to November. This was due to local refineries...

The Somalia government announced on Monday that it was 'annulling' all agreements with United Arab Emirates. This includes?port deals, defence and security collaboration, and'security and defence cooperation. It accused the UAE of undermining the national sovereignty. The Council of Ministers of Somalia said that the decision was based on "credible reports" and "convincing evidence" of hostile acts undermining the national sovereignty, territorial integrity, and political independence of Somalia. In a press release, it was stated that the decision "applies?to?all agreements and partnerships relating?to the ports of Berbera?and Bosaso?and Kismayo... and] bilateral security and defense cooperation agreements." The?UAE foreign ministry didn't...

Oleksiy Kuleba, Ukraine's deputy prime minister, said that Russian drones attacked two foreign-flagged ships on Monday. This was the second attack on Black Sea shipping in four days. Kuleba stated that the vessels were flying the flags of Panama and San Marino. He also said one person was injured. He added that the San Marino flagged vessel had just been loaded with corn and was on its way to Panama to pick up vegetable oil. Kuleba posted on Telegram that "this is further proof that Russia is deliberately targeting civilian vessels, international commerce, and maritime security." Sources familiar with the...

These are the most popular stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. U.S. prosecutors have opened an investigation into Federal Reserve chair Jerome Powell for his testimony about the renovation of the building at the Federal Reserve Bank last summer. Allegiant Travel has reached a deal worth $1.1 billion to purchase Sun Country Airlines. This is despite the fact that budget airlines in the U.S. are facing stiff competition from their larger competitors. Walmart plans to expand drone deliveries to '150 more stores in the next year, with a...

Ukraine officials reported on Friday that Russia had attacked two civilian boats with drones, one of which was flying a foreign flag, in the southern Odesa area, killing a Syrian citizen and injuring a second. In the last two month, Moscow has intensified its attacks on Ukraine's sea export routes in retaliation to attacks on tankers of Russia's "shadow fleet", which were heading there to export oil. Oleksiy Kuleba, Deputy Prime Minister, said in a press release that a ship was sailing along Ukraine's export route to pick up grain cargoes at the port Chornomorsk. The ship was flying the...