Latest News
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Ukraine strikes Baltic Sea port, Volga river industrial sites
Overnight, Russian local governors reported that Ukrainian drones had struck two industrial cities along the 'Volga River, as well as a port on the Baltic Sea near St Petersburg, which exports petroleum products. Governor Alexander Drozdenko announced that a fire was extinguished in the Vysotsk port, where a terminal operated by Lukoil handles the export of diesel fuel, vacuum gas oil, and naphtha. Vyacheslav Federischev, the governor of Samara region, confirmed that industrial targets were attacked in Syzran and Novokuibyshevsk. These cities are located around 1,800 kilometers (1,118 miles), to a southeast of Vysotsk. He didn't name the oil refineries, but both cities are home to oil refineries which have been repeatedly hit during?the?war in _Ukraine.
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American Airlines rejects merger talks United Airlines
American Airlines announced 'on Friday' that it is not interested in a merger between United Airlines, and that no such talks have taken place. This has diminished the prospects of a deal that could reshape the industry but would be subject to tough scrutiny by regulators. The combination of two major U.S. network providers would be the biggest consolidation in over a decade. It would further tighten a domestic market that is already dominated by 4 similar-sized players. The regulators, unions and consumers would be'very concerned about the increased fares and decreased competition. United Airlines CEO Scott Kirby discussed the possibility of merging with American Airlines during a meeting that he had with U.S. president Donald Trump in late February. The meeting took place three days before the U.S. - Israel war against Iran, which sent jet fuel costs soaring. Airlines have since raised fares and fees in order to offset the higher costs. American Airlines said in a press release that while changes to the airline industry may be needed, a merger with United would have a negative impact on competition and consumers. This is in conflict with the Trump Administration's approach towards the industry and the antitrust laws. United Airlines and White House didn't immediately respond to requests for comment. The White House previously stated that it had no opinion about a possible United Airlines merger with American Airlines. (Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Pooja Desai)
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Tickets for public transport to World Cup matches are $150 at Soccer-New Jersey
Tickets for round-trip public transit to the World Cup games in New Jersey are now $150. They were previously less than $15 on an average day. Tickets for World Cup matches can cost thousands of dollars due to the increase of more than 10 times in transit fares. The CEO of World Cup New York/New Jersey's host committee stated on Friday that "we expect public transportation to sell out because it will be the fastest, most efficient way to get to a?stadium." This service will offer round-trips between New York City and the MetLife Stadium via trains and shuttles. World Cup ticket holders will have access to 40,000 non-refundable seats, which go on sale May 13th. The stadium can hold up to 80,000 people. SHUTTLE SERVICE FIFA will operate a shuttle bus service from Manhattan to the stadium. The round-trip cost will be $80, several times more than the regular price. It will transport up to 10,000 people. Tickets will be available on Friday. New Jersey Transit CEO Kris Kolluri explained that the increased prices were due to the increase in passengers and the cost of World Cup security. Kolluri explained that "all consumer protection triggers?that normally trigger a violation?do not apply to us because we are seeking reimbursement for the money we spend, and secondly, we aren't a for profit company." Other transportation options will be limited, such as ride-sharing, because the public parking lots around the stadium, which can normally hold more than 20,000 vehicles, will close on game days. The host committee has said that it will manage the traffic to reduce congestion around the stadium. It gave a location where cars could be dropped off, which is a 20 minute walk from the stadium. Penn Station, Manhattan, will be closed for other passengers four hours prior to and following the Games. The MetLife Stadium is hosting eight World Cup matches, including the final.
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CORRECTED: Airlines cancel flights due to Middle East conflict
The global air travel industry is still severely affected by the Iran War. Many people are unable to fly to their destinations as planned after major Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi were closed. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest airline in Greece has cancelled flights from Tel Aviv to Beirut and Tel Aviv to Amman. It cancelled flights from Erbil to Baghdad and Dubai to June 29. AIRBALTIC AirBaltic, a Latvian airline, has announced that flights to Tel Aviv are cancelled until May 31. Dubai flights are cancelled up until October 24. AIR CANADA The Canadian carrier has canceled flights to Tel Aviv, Dubai and other destinations until September 7. AIR EUROPA Spanish Airlines has canceled flights to Tel Aviv till May 31. AIR FRANCE-KLM Air France has suspended Tel Aviv flights to Beirut, Dubai, and Riyadh until May 3. KLM suspends flights to Riyadh, Dammam and Dubai until May 17, and until June 14. CATHAY PACIFIC Hong Kong Airlines has suspended its flights to Dubai, Riyadh and cargo freighter service to Dubai and Riyadh up until June 30, and until May 31, respectively. In April, the airline will add extra flights to London and Paris, as well as Zurich, to meet the increased demand for travel to Europe. It intends to continue operating all scheduled flights after June. The U.S. carrier cancelled all New York-Tel Aviv flight and has delayed the start of its Atlanta to Tel Aviv route till September 5. The launch of the Boston-Tel Aviv flight, originally planned for late October has been postponed until further notice. EL AL ISRAEL AIRLINES Customers who had planned to leave Israel between April 18 and May 1 have been denied access to their flights, including return flights. From April 13, the number of destinations will be increased to 30 and then gradually increase throughout the month. EMIRATES Emirates Airlines has announced that it will be operating a reduced flight schedule to more than 100 locations. ETIHAD AERWAYS The UAE carrier said that it operates a commercial flight schedule from Abu Dhabi to around 80 destinations. FINNAIR The Finnish airline has cancelled all Doha flights up until July 2 and continues to avoid airspace in Iraq, Iran, Syria, and Israel. The airline will only resume its Dubai flights by October. British Airways, owned by IAG, will reduce flights to the Middle East once services resume. Jeddah is no longer a destination. The plan is to reduce the number of flights to Dubai, Doha, and Tel Aviv to one per day starting in July. Riyadh will be reduced from two daily flights down to just one starting in mid-May. The changes will apply until the end of the summer season on October 24. One Dubai service will restart on October 16. Iberia Express, the Spanish low-cost carrier of IAG, has cancelled all flights to Tel Aviv until May 31. JAPAN AIRLINES Japan Airlines suspends scheduled Doha-Tokyo and Tokyo-Doha flight schedules until May 10. Japan Airlines has also announced additional flights between Tokyo, London and Doha on April 25. The Polish airline has suspended flights to Tel Aviv till May 31. The airline also cancelled flights from March 31 until May 30 to Beirut and Riyadh. The airline will operate its winter route from Dubai to October. LUFTHANSA GROUP Lufthansa and Swiss Airlines have suspended flights from Dubai and Tel Aviv to October 24, and Amman, Beirut and Dammam to Riyadh. Lufthansa Cargo will be the same except for Tel Aviv, which is suspended until April 30. ITA Airways has extended its suspension of flights from and to Tel Aviv and Riyadh till May 10. Flights from and to?Dubai have been suspended until May 31. Eurowings, a low-cost airline, plans to suspend its flights to Tel Aviv and Beirut through April 30, and to Dubai, Abu Dhabi, and Amman until October 24. MALAYSIA AIRLINES Malaysia Airlines has suspended all flights to Doha till June 14. NORWEGIAN AIR The low-cost carrier has delayed the launch of Tel Aviv and Beirut flights until June 15. PEGASUS Pegasus Airlines, Turkey's national airline, has cancelled all flights to Iran, Iraq, Amman Beirut, Kuwait Bahrain Doha Dammam Riyadh Dubai Abu Dhabi Sharjah and Abu Dhabi until May 1. ROYAL MAROC Moroccan airline cancels flights to Doha until June 30, and to Dubai until May 31, QANTAS Australia's national carrier has added flights to Rome, Paris and other European destinations to meet the increased demand. The number of flights to Paris will be increased from three to five weekly return flights, and the Perth to Singapore service will go from daily to ten flights per week. A new schedule will be implemented gradually for flights starting in mid-April, and running until late July. QATAR AIRWAYS The airline said that it would be expanding its international flight networks, offering services to 150 destinations from June 16th. SINGAPORE Airlines In response to increased demand, the carrier has extended the suspension of Singapore-Dubai flights until May 31 and added services on Singapore-London Gatwick (late March) and Singapore-Melbourne (late March-October 24). TURKISH AIRLINES SunExpress, Turkish Airlines joint venture with Lufthansa has cancelled flights from Dubai to April 30. WIZZ AIR Low-cost carrier suspends flights from Europe to Amman, Dubai and Abu Dhabi until mid-September. All flights to Medina are suspended indefinitely. (Compiled by Josephine Mason and Jamie Freed. Elviira Loma, Tiago Branao, Agnieszka Olenka, Bernadette HOG, Boleslaw LaSocki, Romolo Tosiani. Editing by Sumana Nady, Joe Bavier Mark Potter and Milla Nussi-Prussak
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New Jersey offers $150 tickets on public transportation for World Cup games
The cost of round-trip tickets for World Cup games in New Jersey is now $150. This is up from $15 on an average day. The increase of more than 10 times in transit fares can add thousands of dollars to the cost of World Cup match tickets. The CEO of World Cup New York/New Jersey's host committee stated on Friday that "we expect public transportation to sell out because it's the fastest and most efficient way to get to the stadium." Service will include round-trips from New York City to the MetLife Stadium by trains and shuttles. Tickets are?nontransferable and refundable. Tickets will only be sold to World Cup ticket holders on May 13th. On game days, parking lots that can normally hold more than 20,000 cars will not be open. The MetLife Stadium is hosting eight World Cup matches, including the final.
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Quotations-Reactions from industry leaders and businessmen to Iran's statement that Hormuz was open
Iran's Foreign Minister said that the Strait of Hormuz was now open to all commercial vessels after a ceasefire agreement in Lebanon. Quotes from world leaders and the shipping industry on the Iranian declaration. SHIPPING INDUSTRIES: HAPAG-LLOYD Insurance coverage, clear orders?of?the iranian government/military about the exact sea corridor to be used and the sequence of ships leaving) we would prefer to pass through as soon as possible. Insurance coverage, orders from the Iranian government/military regarding the exact sea route to be used, and the order of departure by ships) would make it easier for us to cross the strait. Our crisis committee is currently in session, and we will be working with all parties to try and resolve any open issues within the next 24 hours. MAERSK "We have taken note of the announcement." Our priority is the safety of our crews, vessels and cargo. We have been following the advice of our regional security partners since the start of the conflict. The recommendation has so far been to avoid transiting the Strait of Hormuz. "Any decision on whether to transit the Strait will be made based on risk assessment and a close monitoring of security conditions, with the latest developments included in ongoing assessments." KNUT ARILD HARIDE, CEO OF NORWEGIAN SHAPIOWNERS' ASSOCIATION "If it represents a move towards opening, then this is a positive development. The situation is not resolved, as there are still many uncertainties. These include questions about the presence of sea mines, the applicable Iranian conditions and the practical implementation. Before any transit can take place, these?aspects' will need to clarified. ARSENIO DOMINGUEZ, SECRETARY GENERAL OF THE INTERNATIONAL MARINE ORGANIZATION We are verifying that the recent announcement regarding the reopening of Strait of Hormuz is in compliance with the freedom of navigation and safe passage for all merchant ships. World Leaders: ANTONIO GUTERRES UNITED NATIONS SECRESTARY-GENERAL "I welcome Iran’s announcement that the Strait of Hormuz will be completely open to all commercial vessels during the remaining ceasefire. This is a positive step. The UN's position is clear: We need to restore the full rights and freedoms of international navigation in the Strait of Hormuz. U.S. President DONALD TRUMP Trump posted on Truth Social that "the Strait of Hormuz was completely open, ready for full business, and the full passage. But, the naval blockade would remain in full force, and only as it relates to Iran until our transaction with Iran has been 100% completed." FRENCH PREMIER EMMANUEL MACON Macron said that the "move" was in the right direction. We all oppose any restrictions, agreements, or systems that could be interpreted as an attempt to privatize strait, and of course any toll system. CEVDET YILMAZ, TURKISH VICE PRESIDENT We welcome Iran's announcement of the Strait of Hormuz being reopened for all ships up until the end of the ceasefire. This is a?important step in deescalating tensions. "Dialogue, restraint and strengthening multilateral co-operation are the only ways to prevent similar crises, conflict and developments disrupting maritime transport in our area." FINNISH PRESIDENT ALEXANDER STUB "Finland is ready to work with a solution which brings stability to the area and respects international laws." (Reporting from bureaus, compiled by Toby Chopra).
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Pakistan's power shortages ease with a rebound in hydro-generation
Pakistan's power'shortages' have decreased from six hours daily to less than three, after water release from dams almost quadrupled, pushing hydropower output to its highest level in days, said a spokesperson from the country's "power" division on Friday. The hydropower generation jumped to 4,100 Megawatts (MW), from 1,800MW, before the dam releases. The increased output eased grid restrictions and allowed 400 MW more to be transmitted out of the south. This improvement is a result of Pakistan's electricity shortage, which doubled to 3,400 megawatts this week. The shortfall caused six to seven hour outages across parts of northern Pakistan. In an interview with Awais Leghari on Thursday, the shortfalls are primarily due to a decline of 48% in annual hydropower production as 'provinces have not asked for water releases from Dams due to heavy rainfall reducing irrigation needs. The cause of the increased water release was not immediately apparent. As the monsoon season begins, hydropower generation will likely continue to be high unless there are more rains. No immediate plans to buy spot LNG Pakistan, who is trying to mediate a peaceful end to the Iran War, thought that a stoppage of LNG imports would have a minimal effect compared to the "widespread power outages" which followed Russia's invasion in Ukraine in 2022. This assessment didn't take into account the decline in hydropower. Leghari stated that Pakistan does not have immediate plans to buy LNG on the spot markets, but will instead rely upon fuel oil, as well as a recovery of hydropower, in order to ease outages. Pakistan partially offset shortfalls up to 2,500MW after Qatar suspended LNG supply by running furnace oil plants at full capacity. "The cargoes that will be offloading the LNG? and then all the expenses of the terminal... this easily adds an additional $4-$5 on the spot price." "I think furnace oil might be a bit cheaper," Leghari said in an interview with?Thursday. He said, "We disciplined ourselves to be able bear the discomfort and not allow the prices to actually drive up inflation." Reporting by Ariba and Sudarshan Varadhan; Editing by Philippa and Toby Chopra
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Quotations-Reactions from industry leaders and businessmen to Iran's statement that Hormuz was open
Iran's Foreign Minister said that the Strait of Hormuz was now open to all commercial vessels following an agreement in Lebanon on a ceasefire. The shipping industry and leaders from around the world have spoken out about the Iranian declaration. SHIPPING INDUSTRIES: MAERSK "We have?taken?note of the announcement. Our priority is the safety of our crews, vessels, and cargo. We have been following the advice of our regional security partners since the beginning of the conflict. The recommendation has so far been to avoid transiting through the Strait of Hormuz. "Any decision on whether to transit the strait is based on the risk assessment and the close monitoring of security conditions, including the latest developments in ongoing assessments." KNUT ARILD HARIDE, CEO OF NORWEGIAN SHAPIOWNERS' ASSOCIATION "This is a positive development if it represents a move towards an opening. The situation is not resolved, as there are still many uncertainties. These include questions about the?presence or sea mines and the applicable Iranian conditions. Before any transit can be assessed, these aspects must 'be clarified. HAPAG-LLOYD "We have begun to evaluate the new situation, and the risks that are involved." We are therefore refraining for the moment from crossing the strait," said a spokesperson. Later, a spokesperson said: "We're looking into it. (Hapag Lloyd's) Crisis Committee is in session." We will probably pass soon, but it's too early to confirm. ARSENIO DOMINGUEZ SECRETARY GENERAL OF INTERNATIONAL MARINE ORGANIZATION "We are currently checking the recent announcement regarding the reopening of Strait of Hormuz in terms of compliance with freedom of navigation for all merchant ships and secure passage." World Leaders: U.S. President DONALD TRUMP Trump said on Truth Social that the Strait of Hormuz was "completely?open" and ready for full business. However, the naval blockade would remain in place as long as Iran is concerned, and only until our deal with Iran has been completed. FRENCH PREMIER EMMANUEL MACON Macron said that the move "goes the right way." We all oppose any restrictions or agreements that would amount to a privatization of the Strait, and, of course, toll systems. FINNISH PRESIDENT ALEXANDER STUB Stubb stated on X that Finland is ready to work towards a solution which brings stability to the area and respects international laws. (Reporting from bureaus; compiled by Toby Chopra).
Uganda names Citibank as the fund-raising agent for a 2.7 billion euro rail project
Uganda announced on Thursday that it had appointed Citibank as the 'financing partner for its 2.7 billion euro ($3.19 billion), Standard Gauge Railway (SGR) Project.
Uganda's Finance Ministry posted on the X Platform that it is "in discussions with the World Bank for support of the project."
The Washington-based global financier confirmed earlier this month that it was considering "a range of potential financing options" to finance the project.
The post stated that a?Ugandan delegation in Washington attending the IMF and World Bank spring meetings met officials from Citibank headed by Richard Hodder.
Uganda handed over the SGR project in 2024 to Turkish construction 'firm Yapi Merkezi after a long delay due to unsuccessful attempts?to secure funding from Beijing.
The government has provided some funding for the initial preparatory work, but construction at full scale is still pending.
The 272-kilometre-long (169-mile) rail line will connect landlocked Uganda to the rail network of its neighbour, Kenya. It will also link Mombasa on the Indian Ocean to the railway network in Kenya.
(source: Reuters)