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Singapore's Aviation Showcase will reflect the region's growth and defence ambitions as well as its uncertainties.
Asia's premier aerospace event will feature planes, weapons and parts as the industry struggles to balance increasing demand for air travel while juggling geopolitical issues and chronic supply shortages. The biennial Singapore Airshow is next week as the Southeast Asian city state and its neighbouring countries consider China's continued build-up of arms in the region, while also looking over their shoulders at an increasingly isolationist United States. The Royal Australian Air Force's Lockheed Martin F-35 jet fighters will make their show debut as Singapore awaits the first deliveries. However, some analysts question how much damage has been done to the alliances that support such programmes. "The main issue is how will Asian nations assess the U.S. defense commitment to the region," Byron Callan said, managing partner of research firm Capital Alpha Partners. The Asia's largest Air Show, which takes place from February 3-8, is expected attract over 1,000 companies, including aircraft manufacturers, airliners, arms firms, and military delegations, from all around the globe. Security analysts and executives in the industry expect that its defence segment will attract significant interest as military budgets increase across Asia-Pacific due to increasing geopolitical tensions. As countries look to improve their defences, they will invest in technologies such as drones, missile defence systems, and counter-drones. FLEETS OF AIRLINES EXPANDING The show comes at an important time for the civil aviation industry. The airlines are trying to consolidate their recovery from the pandemic and expand fleets, while manufacturers continue to struggle with supply chain bottlenecks. Subhas Menon of the Association of Asia Pacific Airlines said that fleet expansion in?the Asia-Pacific will remain "robust" despite supply chain bottlenecks. Southeast Asia and India will lead the growth, but he warned that "protectionism?and trade friction mean there are no easy solutions" to long-standing supply problems. Airbus and Boeing are facing increasing challenges to their duopoly. COMAC, a Chinese company, is competing for attention with the C919 passenger plane it has developed in-house. The C919 will be making a second appearance after dominating headlines last year. Adam Cowburn of Alton Aviation Consultancy, the managing director, said that people will watch COMAC with great interest. Their early success outside China was largely a Southeast Asian tale. It will be interesting to see how this story develops at the airshow, or over the next year. COMAC, while attempting to establish itself as an alternative to the Airbus/Boeing duopoly in Southeast Asia, remains heavily dependent on smaller airlines in Cambodia, Brunei Laos Vietnam and Indonesia. The C919 narrow body and the smaller C909 Regional Jet are two of its existing models. They lack Western certification, which limits their appeal to markets that are closely aligned to China. COMAC, like other manufacturers, has fallen short of its delivery targets due primarily to supply chain issues. They deliver far fewer planes in one year than Boeing or Airbus do in a month. Cowburn stated that the gap was substantial. Social media pictures showed that COMAC had unveiled the first major variant of its C919 aircraft, a reminder of its commercial ambitions. Air Current, a trade publication, reported that the shortened 140-seat version, which is designed for plateau areas like the Tibetan capital of Lhasa and other highlands, was first seen outside COMAC’s factory on 21 January. COMAC is also planning a longer stretched version. Brazil's Embraer, which announced a new assembly line for India, the fastest-growing aviation industry in the world, will also showcase its regional jets. This year, sustainability will be a major theme at the event. The transition to cleaner energies is not without its challenges. "SAF has also been caught up in supply chain, protectionionism, and trade barrier issues." Menon added that traditional fuel suppliers had not taken the necessary steps to transition away from fossil fuels. He also said that older fleets were limiting efficiency gains. Reporting by Tim Hepher, Joe Brock and Julie Zhu from Paris; Additional reporting by Greg Torode from Hong Kong. Editing by Jamie Freed.
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Panama court voids CK Hutchison port contracts
The Supreme Court of Panama, late Thursday night, annulled the key 'port contracts' held by a subsidiary of CK Hutchison based in Hong Kong. They ruled that the contracts violated the constitution and left the future of operations along the Panama Canal uncertain. Since the 1990s, Panama?Ports company, a CK Hutchison subordinate, has?held contracts to operate container terminals 'at the canal's Pacific & Atlantic entrances', apart from the waterway operations. The?ruling is seen as a victory for Washington where President Donald 'Trump has pushed hard to curb Chinese influence and increase U.S. control of?the waterway. The critics of these contracts, which have been?extended over the past few years, claim that they are unconstitutional, and disadvantage?Panama. The decision of the Supreme Court could force Panama to restructure its legal framework to be able to award port operations contracts, and possibly reopen the door for a re-tendering the terminals. Reporting by Elida?Moreno and Natalia Siniawski, Editing by Himani?Sarkar
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Trump says US decertifying Bombardier Global Express until Canada certifies Gulfstream
Donald Trump announced on Thursday that the U.S. was decertifying Bombardier Global Express jets, and threatened to impose 50% tariffs on imports of other aircraft manufactured in?Canada?until it certified a number planes produced by U.S. competitor Gulfstream. In a Truth Social post, Trump stated that Canada effectively prohibited the sale of Gulfstream Products in Canada by using this same certification process. If this situation does not change immediately, I will charge Canada a tariff of 50% on all aircraft that are sold to the United States of America. Airbus A220 commercial aircraft made in Canada and Bombardier Global Express were among the planes that Trump increased tariffs on. FlightRadar24 reported on X that there were over 400 Canadian-made aircraft operating between U.S. airports and Canadian airports at about 1100 GMT on Friday. Cirium, a data provider, said that there were 150 Global Express registered aircraft in U.S. service operated by 115 operators. Bombardier and General Dynamics' Gulfstream?, as well as the Canadian Prime Minister Mark Carney’s office, did not respond immediately when asked to comment. Trump claimed that Canada refused to certify Gulfstream 500 jets, 600 jets, 700 jets, and 800. The Federal Aviation Administration and European Union Aviation Safety Agency both certified the Gulfstream G800 in April. Transport Canada, the Canadian certification authority, didn't respond to an immediate request for comments. It was unclear how Trump could decertify the planes as that is the Federal Aviation Administration's job. However, he made similar statements in the past, which were carried out by the relevant agencies, usually with exemptions. The Federal Aviation Administration has the power to revoke plane certifications. It is not known what this would mean for American plane owners or if it would stop them from flying in the United States. The FAA has the power to revoke an aircraft's certification if it is deemed unsafe. The FAA refused to comment immediately. CERTIFICATION PROCESS According to global aviation regulations, the country that designed the aircraft - in Gulfstream's instance the U.S. - is responsible of the primary certification, also known as a "type certificate", which certifies the safety of the design. Other countries usually validate the decision of the primary regulator and allow the plane to enter their airspace. However, they have the right refuse or request more information. After the Boeing 737 Max?crisis European regulators delayed the endorsement of certain U.S. certifications decisions and demanded further design changes. This caused tensions with FAA. Carney denied on Tuesday that he had retract?comments which irritated Trump and claimed that almost nothing is normal in the United States. Carney cited U.S. Trade Policy last week to urge nations to accept that the rules-based world order Washington once championed is over. Carney wants to diversify the trade to avoid the U.S. tariffs that are imposed on Canadian imports. The U.S. takes 70% of Canadian exports as part of the U.S., Mexico, Canada free trade agreement. In December, the FAA certified Bombardier’s Global 8000 Business Jet, the fastest civilian aircraft since Concorde, with a top-speed of Mach 0.95 or approximately 729 mph (1173 kph). Transport Canada certified it on November 5. Reporting by Bhargav Asharya, Toronto; David Shepardson, Washington; Jasper Ward, Montreal; and Tim Hepher, Paris. Editing by Jamie Freed).
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Major airlines ask Congress to pay air traffic control officers if the government shuts down
Major U.S. Airlines on Thursday urged Congress to pay air-traffic controllers in the case of a partial shutdown. The?industry was severely disrupted during a 43 day standoff last year. A dispute over Homeland Security could lead to a partial government shutdown in the United States as early as Saturday. "Congress must understand the real-world consequences that will impact the American people if planes are unable to fly because of a shutdown," said Airlines for America, a group representing American Airlines, Delta Air Lines, United Airlines. Southwest Airlines and other major carriers. As we saw three month ago, shutdowns put significant strain on?the entire aviation industry. They impact travelers, shippers, and federal employees who keep our aviation system safe. A U.S. House of Representatives Committee voted unanimously in December to approve legislation aimed at preventing aviation disruptions during shutdowns of the government by ensuring that air traffic controllers, and other key employees are paid. Major airlines have backed air traffic control pay legislation. They noted that last month, the 43-day U.S. shutdown and flight cuts imposed by the government disrupted 6,000,000 passengers and 50,000 flights due to the increasing absences of air traffic controllers. Airlines said it also had a $7 billion economic impact, or more than $150 millions per day. Federal Aviation Administration, citing security concerns, implemented 'unprecedented' flight cuts on November 7 at 40 major U.S. Airports, leading to 7,100 cancellations, and affecting 2,3 million passengers. FAA has about 3,500 air traffic controllers less than the targeted number. Before the shutdown, many had already been working six-day work weeks and mandatory overtime.
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California's top air regulator: Trump's tax credits and EV regulations are being accelerated, but the state is still opposing them.
California officials will meet Detroit automakers to discuss the next phase in greenhouse gas regulations for vehicles and trucks this week, according to the top air regulator of the state. California is 'fighting President Donald Trump in the courts and the U.S. Congress to undo landmark federal vehicle emission standards. Lauren Sanchez, Chair of the California Air Resources Board said that Governor Gavin Newsom will announce next week details of a $200 million electric vehicle incentive program. The program is intended to fill the gap created by Trump's budget bill that eliminated federal tax credits on new electric vehicles last year. Sanchez stated, "We are speeding up our work to develop zero-emissions cars, and we understand that we must navigate a managed shift that protects the community, the environment, as well as workers, in collaboration with industry." Ford Motors and Stellantis have not yet commented. GM confirmed that it would be meeting with CARB on Thursday in Detroit. It said it had a "long history of dialogue and cooperation with CARB", and added, "California is the fourth largest economy in the World and an important market for innovation and growth." California has been a leader in the country's dirty air for decades. California has set the standard for other states in the U.S. by establishing rules to reduce pollution. California has the exclusive authority under the federal Clean Air Act from?1970 to request waivers to the Environmental Protection Agency to set emission standards that are more stringent than federal standards. Congress has revoked California waivers that were intended to boost zero-emissions cars after the Detroit Three successfully lobbied Congress and the White House in favor of significant relief from California emission regulations. The White House also significantly weakened federal tailpipe regulations and Congress passed legislation that stopped?collecting fines for failing to meet vehicle tailpipe standards. This week, GM said that the rollback of federal emission rules could save up to 750 million dollars. Newsom, a vocal Trump opponent who is considered a likely Democratic presidential candidate for 2028, harshly criticized GM in September, saying GM CEO Mary Barra had "sold us" to undo the progress made by CARB. Sanchez claimed that Trump's attacks on electric cars and policies designed to accelerate the transition to cleaner energy have ceded market share to China. She said that the state was doing all it could to encourage the automakers to innovate in order to compete globally again. She cited Governor Newsom's EV incentives program. "We are looking forward to working with automakers in order to make sure that these investments promote the innovation and competition on a global scale we know is necessary." CALIFORNIA CLIMATE GOALS Trump used the Congressional Review Act last year to revoke California's Advanced?Cars?II waiver to phase-out gasoline-powered vehicles by 2035. This move, coupled with the ending of federal tax incentives for EVs has put a damper on electric passenger vehicle?sales. The state also revoked its Advanced Clean Trucks waiver, which mandated zero-emissions heavy-duty truck manufacture. It also revoked its Heavy-Duty Engine omnibus Low NOx waiver, which would have dramatically reduced nitrogen-oxide emissions over time from new diesel vehicles. The administration also wants to stop the EPA from being able to regulate greenhouse gas emmissions. This is done by rescinding "the endangerment findings" which define these emissions as a threat to human health. In the next few weeks, the repeal of the "endangerment finding" is expected. Sanchez said California will challenge a repeal of the law in court. Before Trump's January 2025 inauguration, CARB officials retracted a waiver request which would have set up the strictest locomotive emission rule in the nation and required railroad operators phase out old diesel engines. The government also retracted a request for a waiver that would have given truckers a deadline to switch from diesel trucks to zero-emission rigs. Sanchez described those withdrawals as strategic ones that allowed state regulators to pursue alternative strategies. Sanchez stated, "We are prepared to fight but we are also prepared to explore alternative options at the same time." (Reporting and editing by David Gregorio; Lisa Baertlein)
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The demand for electricity at the largest US grid is nearing winter records
On Thursday, the largest U.S. electrical grid operated at near-record?levels of demand amid freezing temperatures. Forecasters predict another arctic blast for the weekend. The PJM interconnection, which'manages' the flow of electricity to 67 million residents in 13 Mid-Atlantic and Midwest states, as well as Washington, D.C., recorded a morning demand for electric power at 140 gigawatts. The grid's winter demand record is 143.7 GW. It was set in January 2025. Earlier this week, PJM predicted that the record would be broken on?Friday. They forecasted 148 GW in demand. PJM says that Friday's demand is expected to be 142 GW, not the 148 GW predicted earlier in the week. PJM, the electric grids of New York and New England and PJM had to deal with congested high voltage lines in their respective territories. Temperatures hovering over 0?degrees F (-18 Celsius) have led to power line overloads this week due to a surge in demand. The cold caused gas-fired boilers to malfunction and coal-fired generators to lose their power. PJM predicts a lower outage rate for Friday at 15 gigawatts or 8% of 180.8 GW operational capacity. PJM spot wholesale prices on?Thursday were $150 per MWh. This was a far cry from the?brief peaks of $3,000 per MWh that occurred earlier in this week. Prices lowered as temperatures warmed up a bit and gas supply became more plentiful for power generators. Matthew Palmer, the head of Americas Gas Research at S&P Global Energy, said that it is possible for prices to spike again in the event of a significant storm and severe cold. The closer it gets to March, and the end of winter heating season, the less likely this is. (Reporting by Tim McLaughlin. Editing by David Gregorio.)
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Niger's military leader accuses France of funding airport attack
Abdourahamane Tiani, the military ruler of Niger, accused Thursday's French, Benin, and Ivory Coast Presidents of sponsoring an attack on Niamey International Airport. He made this accusation without providing any evidence. Two security sources described the incident as a "terrorist act" and gunfire and loud explosions were heard around Niamey's airport international shortly before midnight. The calm returned to Niamey on Thursday morning. Tiani named the French President Emmanuel Macron as well as Benin's Patrice Telon and Ivory Coast's Alassane Oouttara in his speech on Niger state television following his visit to the airbase. He vowed retaliation. He said: "We've heard them bark. They should be prepared to hear us roar." This was a further deterioration of the relationship between the Sahel Nation, its neighbours, whom he views as French proxy in the region and the former colonial powers. It was not possible to immediately contact the offices of France's president, Benin's and Ivory Coast's vice-presidents for a comment. Tiani thanked the Russian soldiers stationed on the base as well for "defending their area." Since gaining power, the military leaders in Niamey have severed ties with Western powers, and instead turned to Moscow to receive military support in order to combat?the insurgencies. The Niger's state-run television broadcast that one of several attackers killed was a French citizen, and showed footage showing several bloodied corpses on the ground. It did not provide any evidence. URANIUM The witness said that businesses and schools were open in the city, which has a population of 1.5 million. People were also moving freely. However, he noted a heavily-patrolled zone near the airport, where defence and security forces were heavily present. Two security sources called the incident overnight a "terrorist act" and confirmed that security around the airport had been heightened following an internal alert of an imminent attack. The airport's uranium store was not affected by the incident. According to two sources, Nigerien authorities transferred the uranium Yellowcake from the Somair Mine in Arlit, France, to the Niamey Base for export late last year after seizing the mine from French nuclear company Orano. Two other sources confirmed the uranium remained at the airport when the incident occurred on Wednesday night. Yellowcake (or uranium dioxide concentrate) is a powdered uranium that can be used to produce?fuel for the production of nuclear power. AIRCRAFT DAMAGED DURING ATTACK ASKY Airlines, a pan-African airline, said that two of its planes sustained minor damages during the incident, while parked at the tarmac. Air Cote d'Ivoire, the national airline of Ivory Coast, said that an Airbus A319 had been damaged, causing damage to its fuselage and its right wing. The incident happened outside of operational hours, and neither company reported any injuries to passengers or crew. Air Cote d'Ivoire released a statement saying that an assessment of the Airbus was underway and the plane could be grounded for a long period, possibly disrupting schedules. Witnesses reported that heavy gunfire started shortly before midnight and lasted for more than an hour. The video, which was shared on the social media platform?X, appeared to show the city skyline lit up by gunfire at night. However, the footage has not been independently verified. (Reporting by Niamey Newsroom; Writing by Bate Felix, Portia Crowe and Ayen Deng Bior; Additional reporting by John Irish in Paris; Editing and editing done my Chris Reese, William Maclean and Diane Craft) (Reporting and writing by Niamey Newsroom, Portia Crowe and Ayen Deng Bior; Additional reporting in Paris by John Irish; Editing and editing by Chris Reese William Maclean Diane Craft
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Microsoft plummets, Meta rallies amid investor demand for AI payoffs
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 87% in the past two years while Microsoft's has only risen 7%. Microsoft, which has ridden its first-mover edge with OpenAI in order to become the most valuable company on earth by 2024 is now being pressed by investors to justify its soaring capital expenditure. Microsoft's Azure cloud computing business reported revenue growth that was just slightly above expectations. AI, on the other hand, helped Meta increase revenue by 24% during the December quarter, and led to a positive first-quarter outlook. The results indicate that Facebook's AI gains were funding its capital expenditure, which was expected to increase by as much as 87% this year to $135 billion. John Belton said that Meta's headline numbers are an interesting reflection of market attitudes toward AI spending. "All other things being equal, the market is typically concerned. But they have a large revenue guide for?the first quarter." Microsoft might have an OPENAI problem Microsoft was also under pressure when it revealed that OpenAI, a prized holding of itss, accounted for 45% its cloud backlog. Investors worry that $280 billion may be at risk if the AI race is lost by the "unprofitable" startup. ChatGPT's creator issued a "code-red", an internal warning, in December following the launch of Google's Gemini 3 to positive reviews. He is now playing catch-up with Anthropic's Claude Code AI coding which has an annualized rate of over $1 billion. Zavier Wong is a market analyst for eToro. He said that Microsoft's close ties with OpenAI are what makes it the leader in enterprise AI. But they also pose a concentration risk. Microsoft predicts Azure growth will remain stable between January and March, at 37%-38%, following a slowdown in the final three months of 2025 due in part to AI chip capacity limitations. Microsoft's finance chief Amy Hood stated on a call following the company's earnings that, if she had allocated all the graphics processor units (GPUs) that were just coming online in the first and second quarters to Azure, "the KPI (growth rate) would have exceeded 40%." She also added that using chips for internal development had slowed the growth. META BET ON AI'S COMPOUNDING EFFECT The revenue growth for Meta shows that the AI pivot is paying off, and it's helping the company catch-up to the early leaders. Meta predicts that growth could reach 33% this quarter. Alphabet, the parent company, is spending a lot of money at cloud providers. This bodes well for Alphabet's next-week results. Alphabet shares rose ?1.6%. Mark Zuckerberg, CEO of Facebook, said that AI would "improve both the quality of organic experience as well as advertising." Meta, who predicted that total expenditures would increase by 43% this year to $169 Billion, said: "I believe that it will have a compounding effect." TESLA SET FOR DOUBLE OUTLAY IN THIS YEAR Elon Musk's Tesla will also double its spending this year, to more than $20 billion, as it pivots towards AI, humanoid robotics, and personal vehicles which can drive themselves. Shares of the company rose 2.9% after it reported a quarterly profit and revenue above expectations. Analysts noted that the results did not match up with investors' expectations of payoffs. Jesse Cohen is a senior analyst with Investing.com. He said, "The market seems to be unsure whether these massive increases in capital expenditures will generate enough returns." This reflects the growing gap between Wall Street's tolerance for long-term investment cycles and tech companies' AI aspirations.
Swiss stocks: Factors to be on the lookout for January 30
Here are the key factors that could affect Swiss stocks on Friday:
NESTLE
Foodwatch, a consumer rights campaign group, filed a criminal complaint on Thursday in Paris in behalf of eight families who claim their babies fell ill after eating contaminated infants formula. This comes after companies like Nestle recalled?batches? of infant formula over the last month due to 'concerns? about contamination.
SWATCH
Date possible for the release of FY Key figures.
BUSINESS STATEMENTS
* Dottikon Es claims that Buechiglas has a strategic stake Dottikon Es associated SYSTAG
ANALYSTS VIEWS
FLUGHAFEN ZUERICH AG: Jefferies cuts the target price from CHF 246 to CHF 239.
GIVAUDAN SA : Jefferies reduces target price from CHF 3800 to?CHF 3500
GIVAUDAN SA: JP Morgan reduces target price to CHF 3600 from CHF 4000
ECONOMY
Swiss January KOF indicator due at 0800 GMT. Seen at 103.0.
Swiss Offical Reserves Assets due at 0800 GMT. Reporting by Zurich and Gdansk Newsrooms
(source: Reuters)