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Air France and others are not allowed to fight EU cargo cartel fines by the EU's top court
The European Court of Justice rejected on Thursday Air France KLM and British Airways, as well as almost all their competitors in their battle against fines totaling 776 million Euros that were imposed by the EU antitrust regulators nine years ago. The Court of Justice has rejected almost all of arguments presented by the airlines. The court in Luxembourg said that only the appeal filed by the SAS Cargo Group was partially upheld, due to 'errors committed by the General Court when calculating the fine imposed by this airline. In 2017, the European Commission - which is the EU's competition enforcer - reissued fines for?11 airlines who were involved in the cartel. This was after a lower court annulled its 2010 total fine of 799 millions euros due to a procedural mistake. These cases are C-367/22 P Air Canada and Others V Commission; C-369/22 P Air France and Others V Commission; C-371/22 P Air France and Others V Commission; C-379/22 P Singapore Airlines and Singapore Airlines Cargo, v Commission; C-378/22 P British Airways and Singapore Airlines Cargo, v Commission. C-380/22 P German 'Lufthansa and Others, v Commission. C-381/22 P Japan Airlines v Commission. C-382/22 Reporting by Foo Yon Chee and Editing by Charlotte Van Campenhout
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The railway reports that grain exports from Ukraine to ports rose in February.
The volume of grain delivered to Ukraine's Black Sea ports for export has risen by 2% in February, compared to a year ago, but remains below the February 2025 levels. This was announced on Thursday by Ukrzaliznytsia, a state railway. In a report, the railway stated that it has delivered approximately 2 million metric tonnes of grain this month. This is down 1.4% compared to a year ago. The company stated that "this year, we will face new challenges: attacks on rail infrastructure and power substations which didn't happen last year." An anonymous source in the transport industry, who asked to remain anonymous due to the sensitive nature of the issue, told? This month, strikes at the Odesa port hub have reduced export capacity up to 30% compared to pre-war levels. Since the beginning of Russia's full scale invasion in 2022, the southern Odesa area - which is home to a major hub of shipping with terminals in the ports of Odesa and Chornomorsk as well as?Pivdennyi has been a target. Local businesses have been forced to reduce prices in order to remain competitive on global markets due to attacks on the 'port infrastructure'. The constant power outages caused primarily by Russian attacks on Ukraine's Energy Sector have made the situation worse, and in some cases?made production unprofitable. Volodymyr Zelenskiy, Ukrainian president, said on Thursday that Russia had attacked Ukraine's energy grid with drones and rockets over night. Reporting by Pavel Polityuk. Mark Potter (Editing)
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Poste's 2026 profits are higher after an increase in Q4 operating results.
Poste Italiane, a state-backed financial conglomerate, forecast a slight increase in profit for 2026 after reporting stronger-than-expected quarterly operating income. It is preparing to announce a new multiyear strategy later this year. The fourth-quarter earnings before tax and interest (EBIT), which were boosted by the insurance division, exceeded expectations. This was due to the release from a reserve. Poste has guided for an adjusted EBIT of over 3.3 billion euro this year. JPMorgan analysts have said that the forecast was slightly higher. Poste has also set an '2026 net profit target of 2.3 billion euro, up from 2.2 billion euro last year. "We achieved the best results in our history", said Chief Executive Matteo Del Fante, citing the strict cost control and the strong returns on the investment portfolio. Poste, which is almost two-thirds owned by Italy, increased its dividend by 16 percent a year to 1.6 billion euro. This amounts to an increase in the payout ratio from 70% to 73%. It promised to keep the payout ratio above 70% by 2026. Poste's profits have more than tripled under Del Fante. A former JPMorgan banker, Del Fante has been at the helm of Poste since 2017. Del Fante's mandate ends in April. He has applied for a three-year extension. However, there has been no political decision made about his future. Coalition talks on appointments to key state-controlled companies such as Poste are set to reach a critical phase in the coming weeks. Record Results The group's 2025 revenues, after adjusting for items like?transport costs?for gas and electricity in its power-supply business, increased 4%, reaching a record of 13.1 billion euro. This year, the group expects to increase this figure to 13.5 billion. Poste has expanded its business beyond the traditional delivery of mail and parcels to include insurance, payment, savings management, mobile phone, and energy services. In 2025 it purchased 27% of Telecom Italia, bringing back the former monopoly in the phone industry. JPMorgan stated that "TIM and Poste have revealed potential cross-selling benefits from a number of initiatives which we don't believe have been taken into consideration in the consensus." Poste, a company that operates around 13,000 post offices, announced it would integrate the financial and payment services business.
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CPC predicts a 12% increase in oil exports by 2025
The Caspian Pipeline Consortium (CPC), which transports oil from Kazakhstan to a terminal on the Russian Black Sea, increased its exports last year by 12%, reaching 70.52 millions metric tons. CPC, which is responsible for delivering'more than 1% of the world's oil, has been under scrutiny due to a number of disruptions in its operations. This includes a drone attack by Ukraine on November 29 that damaged a vital piece of exporting equipment. CPC, according to three industry sources earlier this month, plans to increase CPC Blend crude exports to 1.7 million barrels per day (bpd), up from 1.1million bpd in the revised February plan. CPC said Thursday that Kazakhstan's oil fields - Tengiz Karachaganak, and Kashagan -- will supply its network with 36.6 mt, 9.2 mt, and 17 mt respectively by 2025.
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Poste Italiane increases dividends after a solid quarter and sees a higher profit in 2026
Poste Italiane, a state-backed financial conglomerate, announced on Thursday that its net profit would'slightly increase this year as revenue reaches a new record. This comes after the company reported solid quarterly earnings and increased its dividend payout. Poste, a company owned almost two-thirds by the Italian government, increased its dividend by 16 percent year-over-year, distributing?1.6 billion euro. This amounts to an increase in the payout ratio from 70% to 73%. It promised to keep it above 70% by 2026. The company is aiming for a net profit of 2.3 billion euros in 2026 compared to the 2.2 billion euro result last year. Poste is the largest cash recipient for the Italian government, thanks to its direct 29,3% stake and another 35% held by state investor Cassa?DepositiePresti Poste has grown beyond the traditional business of mail and parcels, and now offers insurance, payments and savings management services, as well as?energy,?mobile phones and mobile phone service. The group's 2025 revenues, after removing?items like raw material purchase costs?or transport costs for electricity and natural gas in its power-supply?business?, increased 4% annually, reaching a record of 13.1 billion euros. This year, the revenue is expected to increase to 13.5 milliards.
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French and Benelux stocks: Factors to watch Thursday
Here are some company news and stories that could impact the markets in France and Benelux or individual stocks. AMG CRITICAL MATTERS AMG, a Dutch producer of critical materials, reported a Q4 revenue of?$446.6 million. The company's adjusted EBITDA was $43 million. It reported yearly adjusted EBITDA at $235 million. AMG proposed a total 2025 dividend per share of 0.40 euro and expected 2026 adjusted EBITDA to be between $210 and 240 million. EIFFAGE: Eiffage, a French construction and concessions company, reported a full-year revenue totaling 25.31 billion euro ($29.90 billion), and a net profit of 1 billion euro attributable only to the group. The group also announced a construction orderbook of up to 29,9 billion euro, and proposed a dividend of 4,80 euros per share. FNAC DARTY Fnac Darty, a French retailer specializing in entertainment, leisure, consumer electronics, and home appliances, reported a full-year revenue totaling 10.33 billion euro and an adjusted net profit from continuing operations amounting to 28 million?euros. Current EBITDA is 667 million euro and the proposed dividend per share is 1.00 euros. NEXITY: French real estate developer Nexity reported a full-year revenue totaling 2.74 billion Euros, with a positive free cash flow (107 million?euros) and nett financial debt of 278 millions euros. The company forecasted an improvement in operating profitability by 2026 as well as a?ongoing reduction of leverage ratio and possible return to 3.5x or less no later than the year 2027. RAMSAY GENERAL DE SANTE Ramsay Sante, a European leader in private hospitalisation and primary healthcare, reported a half-year revenue increase of 3.3% at 2.6 billion euro and stable consolidated EBITDA of 285 million euro with a margin of 11.0%. The group posted nil net income of 35 millions euros. SAINT-GOBAIN: Saint-Gobain, a French building materials company, announced that it had reached agreements to purchase a majority stake of Morteros de Europa (in the Dominican Republic) and Grouttech in both the Netherlands and Belgium. This will allow Saint-Gobain to enter the Dominican Republic's market and strengthen its position in the Benelux nations. VINCI: French construction and concessions company Vinci has successfully issued 500 millions euros of bonds that can be exchanged for ordinary shares of Groupe ADP by 2031. The bonds have a coupon rate of 0.75% annually?and the exchange price is set at 157.9410 euro per ADP share. Proceeds will be used to fund general corporate purposes. WORLDLINE: Worldline, a French provider of payment services, reported a fourth-quarter revenue of 1,03 billion euros with an organic contraction rate of 2.2%. The company also reported 737 million euro in adjusted EBITDA for the full year. Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers................................................................. Top 25 European pct losers................................................ Main stock markets: Dow Jones............... Wall Street report..... Nikkei 225............. Tokyo report............. FTSE 100............... London report........... xetra DAX............. Frankfurt items....... CAC-40................. Paris items............ World Indices................................................ Pan-European market data: European ?Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top ?10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... survey of world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report..... ($1 = 0.8464 euros)
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Maguire: Africa is primed for a solar breakthrough following record capacity growth
Africa is set to become a major player in global solar power production for the remainder of the 2020s, thanks to a powerful mix of policy support and rapid economic growth. According to the Global Solar Council (GSC), Africa installed a record of 4.5 gigawatts PV solar power in 2025. This was a 54% increase from the previous year. Eight countries increased their solar capacity by at least 100 megawatts last year. This is double the number of countries that reached this threshold in 2024. It shows the growing appeal of solar power systems on the continent. Last year, African nations increased their collective imports in battery energy storage systems to make sure that utilities, homes and businesses can access solar power after dark. From South Africa to Egypt, ambitious clean energy policies are likely to encourage a wider adoption of solar and batteries systems. This will help Africa become a major growth area for solar systems in 2030 and beyond. GROWTH DRIVERS South Africa is likely to have the largest solar footprint in Africa. This will be just over 10 GW after a 1.6GW increase in capacity?in 2025. According to the latest Integrated Resource Plan, around 10 GW new solar PV capacity will be installed by 2030. This includes 8.5 GW battery storage as well as around 5 GW distributed?solar. The majority of these capacity figures are attainable with the current rate of installation, but grid bottlenecks and hindered investments in the overstretched national distribution networks will remain the main challenges for power developers. North African nations such as Egypt, Algeria and Morocco?and Tunisia, are among the fastest growing markets for solar power outside of South Africa. They will add an additional 1.1GW by 2025. North Africa is home to some of the largest utility-scale solar power projects in the world. It has the highest solar radiation in the world, as well as vast undeveloped areas. According to Global Energy Monitor, Egypt is currently the leader of North Africa in terms of solar project development. It has around 5.5GW under construction, with another 13GW in a state called pre-construction. Tunisia and Libya have committed to developing large solar power plants, and this will help to develop a skilled workforce for clean energy maintenance and development. Nigeria, with its record of 803 MW, was also a prominent solar developer by 2025. Meanwhile, projects of record size are currently being built in Zimbabwe, Zambia and Ghana. POLICY HELP Solar assets in Africa are gaining more traction thanks to a number of country-level initiatives that aim to drive demand for renewable energy. Nigeria, one of Africa's fastest growing economies, has approved new net-metering legislation that allows households and businesses offset their power bills by using rooftop solar installations. Solar array mounting systems will be exempted from import duties in Kenya. This will make them more affordable. Ethiopia also received funding to upgrade its grid in order to support renewable energy projects. Botswana has implemented new rules for the domestic energy markets that are expected boost solar project appeal. Tracking Potential Africa's increasing appetite for solar components coincides with the saturation of several major markets across Europe. The trade war is a boon for solar panel exporters, mainly Chinese firms. They are locked out of the U.S. and must find new markets to expand. Data from the energy think tank Ember show that in 2025 African nations will have purchased a record amount of $2 billion worth of solar modules made by China. This represents a 36% rise compared to the previous year. African nations have also purchased $2.6 billion in battery systems made by China. This is a significant increase year-over-year and has helped Chinese vendors expand their service footprint on the continent. African consumers can take advantage of the lower prices of solar components and batteries in 2026, and beyond. This is especially true in areas where there are new tax breaks and favorable pricing for renewable energy. This will help Africa's solar momentum gain further?steam in the next decade and establish the region as a key energy transition driver by the year 2030. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest Follow ROI on Twitter for the latest global financial news. Follow ROI on You can find us on LinkedIn. Listen to the song Morning Bid daily podcast Spotify Or the . Subscribe to the podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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NAB Chief: Australian dollar bond market will see record issuance
The growing Australian pension system has helped fuel record issuances in the A$ bond market. Andrew Irvine, CEO of National Australia Bank (NAB), expects this trend to continue as global borrowers tap deeper pools of domestic liquidity. According to Dealogic, there have been A$52.74 Billion (or $36.21 Billion) of A$-denominated Bonds issued since the beginning of 2026. This is the best start for any year. In A$ terms, the issuance has increased by nearly 11% since last year. Irvine said A$ Bonds were becoming more appealing to Asian and European Issuers because?Australian Pension Funds, also known as Superannuation Funds locally, became increasingly active purchasers. This improved market liquidity. MTR Corp., Hong Kong, for example, issued A$2 Billion in green bonds in January, its first ever in A$. According to industry figures Australian pension funds receive A$4 billion inflows every week. This makes it the world's fourth largest retirement savings system. In an interview with Irvine on Thursday, he said: "That creates a larger and more liquid market. Issuers can then?offer and take advantage of?all kinds of different duration instruments at good prices." The increase in products and good prices that they are able to achieve is attracting investors. "I see this continuing for the foreseeable future." Employers in Australia must now pay 12% of their employees' earnings to a pension fund. This will boost the?inflows that are received by this industry. The regulatory data released on Thursday showed that pension contributions will total A$221 Billion in 2025. This is an increase of 11.5% over the previous year. Benefit payments, however, will grow 12.5% to A$140 Billion as more Australians reach retirement age. Irvine stated that the market for 'A$ bonds was on its way to becoming a global player after previously being regarded as a small issuer jurisdiction. He said that as more Australians approach retirement age, they will need more fixed income securities to provide them with retirement income. As Australians age, you will see a shift from growth products towards income products. NAB is hosting a capital markets conference for two days in Singapore. (Reporting and editing by Scott Murdoch)
Newspaper reports that Belgium will install an air defence system in Antwerp port by 2027.
Belgian newspaper Gazet van Antwerpen reported 'on Thursday that Prime Minister Bart De Wever had confirmed the installation of an air-defence at Antwerp Port.
Last year, Belgium was forced to close a military base and several airports due to multiple drone sightings. Drones have also been spotted above?the port?of Antwerp including over the nuclear power plants, the BASF chemical plant and the Europa terminal. "An air-defence is coming to the port of Antwerp." According to the newspaper, De Wever stated that the Nasams-type system had already been ordered. The newspaper also stated that the?defence?ministry has specified that the first?battery?of the?air-defence?system is expected to arrive by 2027.
The system is designed to provide protection against short-range threats such as drones, fighter jets and other short-range threats.
Port?of Antwerp - Bruges and 'the Belgian Government' did not respond immediately to requests for comments. Charlotte Van Campenhout (reporting; Barbara Lewis, editing)
(source: Reuters)