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Major Gulf markets gain on US-Iran peace deal hopes
The major Gulf stock exchanges rose slightly on Thursday in the early trading after Israel and Lebanon agreed to implement ceasefire. This boosted optimism for a larger deal to end the U.S. War with Iran, even though tensions were simmering. A joint statement issued by the U.S. State Department following talks in Washington said that the Israel-Lebanon truce is conditional on the complete cessation from fire of the Iran-aligned Hezbollah and the evacuation?of all their operatives?from the South Litani Sector. Donald Trump, the U.S. president, suggested Wednesday that progress could be made in negotiations with Iran by this weekend. Iran had earlier struck Kuwait, damaging the airport and injuring many, while the U.S. military conducted strikes near the Strait of Hormuz. After a period in which tensions had eased and progress was perceived, the markets remained cautious, according to Ahmad Assiri. Research strategist at Pepperstone. Saudi Arabia's benchmark stock index rose?0.1%? in choppy trading. Dubai's main stock index rose 0.3%. The sharia compliant lender Dubai Islamic Bank? grew by 1.3%, and toll operator Salik added?1.3%. In Abu Dhabi the index rose by 0.2%. The Qatari index rose?0.3% with Industries?Qatar adding 0.3%. Brent futures were down 87 cents or 0.89% at $96.92 per barrel as of 0458 GMT. (Reporting by Ateeq Shariff in Bengaluru; Editing by Harikrishnan Nair)
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Russian officials claim that Ukrainian strikes have killed four people in Crimea
Kremlin officials in the area?said? that four Ukrainians were killed in the Russia annexed Crimea peninsula on Thursday, a day after Moscow and Kyiv exchanged strikes against each other's towns. Sergei Aksyonov is the Russia-appointed leader of Crimea. He said that Ukrainian forces have struck a non-residential area of Simferopol - the peninsula's principal administrative town - killing three and injuring 7. Aksyonov said later on Telegram one person was killed and three?wounded after a Ukrainian drone hit a commuter rail in eastern Crimea. Ukraine has not yet commented. The local governor of Sevastopol in?Crimea, who is now based in Russia, said that air defence units intercepted over 20 Ukrainian drones. He did not mention any casualties but did say that drone debris had damaged a few buildings. After public protests in Kyiv forced a Moscow-friendly Ukrainian president to flee the country, Russia annexed Crimea and seized it in 2014. This was long before its full-scale invasion in 2022. Crimea is popular with Russian tourists. After increasing Ukrainian attacks on oil industry targets in Russia, the region has taken steps to combat fuel shortages. STALLED TALKS The U.S.-brokered negotiations aimed at bringing an end to this more than four-year old war have stagnated as Washington is focused on its war against Iran. Local and regional officials reported that Russian shelling killed three civilians on Wednesday in Kramatorsk - one of Ukraine's "fortress towns" near the frontline - and injured eight others near Dnipro. Ukraine's emergency services reported that on Thursday firefighters were putting out a fire in the Boryspil region outside of Kyiv, after a drone attack?hit an industrial facility, leaving one person injured. The acting regional governor of Bryansk in Russia's border area claimed that a Ukrainian drone had?killed a crane driver. A strike by Ukraine on the oil industry of Moscow included an attack on a terminal at St Petersburg, on Wednesday. Volodymyr Zelenskiy, the president of Ukraine, said that such strikes allow Ukraine to "end this war on an equal footing". 23 people were killed by?attacks in Ukrainian cities Tuesday, after Moscow announced it would launch a "systematic" strike in response to a drone attack against a dormitory on Russian-occupied territory. Ukraine denies that it attacked the dormitory. (Reporting and writing by Yuliia Dyesa, Olena Harma, Jekaterina Glubkova in Moscow and Ron Popeski, Mark Trevelyan and Timothy Heritage).
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Report: US Castlelake is looking to MSC as a partner for easyJet's bid.
Italian daily Corriere della Sera said that U.S. investment company Castlelake was looking to MSC, the world's largest shipowner, as a possible partner in a consortium interested in a potential takeover bid for British budget airline easyJet. Castlelake announced last week that it is in the initial stages of evaluating a possible easyJet offer, which would be above 403.23 pence a share. However, no approach has been made to easyJet's board. According to UK takeover regulations, the company has until June 26th to submit a firm offer or walk away. Corriere reported that two sources familiar with the discussions said that if 'Castlelake' decides to make a formal offer for the carrier before the deadline, they 'hope to work with MSC in order to ensure their?bid is compliant with EU ownership rules. The article added that MSC was a possibility for two other sources and that they had contacted the group. MSC is a Swiss company run by Italian billionaire Gianluigi Aponte. It's a global group that not only manages container shipping, but also inland transport, terminals, and passenger cruises. It has a 49% stake in the Italian high-speed railway operator Italo. The report said that a combination with easyJet could allow MSC to control "the entire leisure travel chains, from flights to cruise ships" in a similar model to the German travel group TUI. EasyJet owns and operates a holiday package business that was launched in 2019. MSC declined comment. EasyJet, Castlelake and MSC declined to comment.
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South Korea and China agree to first expansion of flight rights in 7 years
Seoul's Transport Ministry announced on Thursday that South Korea and China had agreed to extend weekly 'flight rights' between the two countries for the first time in seven year. This is another sign of the warming relationship between the Asian neighbours. According to the Ministry of Land Infrastructure and Transport, an agreement reached during bilateral aviation talks in Seoul between May 27 and 28, will increase passenger flights by 56 weekly flights, to 664, from 608, while cargo flights by 14 weekly flights, to 68, from 54. The Ministry said that the agreement would allow for easier addition of flights to?high demand routes? such as Incheon-Shanghai and Incheon-Guangzhou where rights were?fully used on both sides? The ministry announced that it would also expand routes 'from South Korea regional airports including Busan and Cheongju to 10 Chinese cities like Guangzhou Chengdu Shenzhen Chongqing Xian and Xian. According to the statement, the first-quarter passenger traffic between South Korea, China and Japan reached 4,39 million passengers, surpassing the pre-pandemic levels of 4,14 million. Lee So-young is the aviation policy chief at the Ministry. He said that it was encouraging to see the two countries achieve a 'timely expansion of their flight rights by active aviation talks, just as the exchanges between the two countries were growing. Lee stated that the agreement would help to promote the visits of Chinese tourists to South Korea, as well as improve the convenience of our citizens traveling to China, and import-export firms, while also contributing to the revitalisation the economy through further boosting Korean Airlines' entry into the Chinese market. The ministry said that it will allocate the newly acquired rights to South Korean Airlines in the second half year. (Reporting and editing by Ed Davies.)
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US FCC to tighten rules for US firms in the undersea cable market
The Federal Communications Commission announced on Wednesday that it will tighten the oversight of submarine cables, which handle 99% international internet traffic. It has proposed rules?that make it more difficult for Chinese companies to supply equipment?and?fast-track approvals?for trusted U.S. technology firms. The FCC announced that it would require licenses to be issued to operators of submarine line equipment. This equipment performs the most important function of a cable system, connecting the submarine cables to U.S. land-based facilities. U.S. firms such as Alphabet's Google and Facebook's parent company Meta?will likely benefit from a process that will allow them to receive faster approval for additional?undersea cables systems to handle the growing internet traffic. Fast-track means that companies operating cables must be vigilant against espionage and other security incidents, and monitor compliance with national and data security. Operators must also agree to not?use foreign technology that may pose security risks. The FCC banned the use of equipment and services for undersea cables from companies that were on their list of companies deemed as a threat to U.S. National Security. The companies that were banned included Huawei, ZTE and China Telecom, but new rules will likely expand the ban so as to include equipment from China or other 'foreign enemies' in submarine cable systems. Since more than a decade, U.S. officials are concerned about the network?of more than 400 submarine cables that handle almost all international internet traffic. They also worry about the threats from China and Russia. Jim Risch, the chair of the U.S. Senate Foreign Relations Committee in April, urged for new measures to address national security concerns about submarine communication cables. Risch stated that "to end undersea attacks, we need to publicly identify the perpetrators and call them out as soon as they occur." We also need an international concerted effort to improve the resilience of the undersea infrastructure and prevent or reduce the impact when these attacks happen. In?2021, Justice Department stated that agreements for national security on submarine cables were required with Google and Meta, given China's "consistent efforts to obtain the sensitive personal information of millions of U.S. persons." (Reporting and editing by David Shepardson)
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ACI: European airport passenger traffic is negative for the first time after COVID recovery
ACI Europe, the European airport trade association, reported on Thursday that passenger traffic at Europe's international airports fell in April, for a?first time since recovery from COVID five years ago. This reflects?disruptions caused by _the war with Iran. ACI Europe's April 2026 traffic report showed that passenger traffic across Europe's airport networks fell by 0.7% when compared with the same month in the previous year. ACI Europe, based in Brussels, said that this 'decline' marked the first drop in passenger traffic year-on-year since Europe's aviation sector began its recovery from the COVID-19 pandemic in April 2020. * While we had already seen a normalisation in passenger traffic after the strong recovery following the pandemic, the geopolitical instabilities - notably the conflict in the Middle East -- are now further weighing down on?growth. This is exposing significant differences between performance across markets. * The rise in oil prices due to the 'war in Iran' has affected the aviation and transport sectors around the world. ADP is one of the main airport companies in Europe that are listed on the stock exchange. AENA, Fraport and Flughafen Zurich. (Reporting and editing by Toby Chopra; Sudip Kar Gupta)
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NAACP says US Postal Service voting plan violates settlement
The NAACP asked Wednesday for a federal court to resurrect a lawsuit that was filed against the U.S. in 2020. Postal Service is challenging the Trump administration’s new restrictions on voting by mail. They argue that the proposed rule of?the agency? violates an agreement requiring expedited handling mailed ballots. Last week, the Postal Service proposed a new rule that would require states to provide voter lists 'before they can deliver ballots. The NAACP argued in its motion to the District Court for the District of Columbia that the USPS rule would create a system "that directly breaches its obligations under the agreement." The group asked for a U.S. court to 'quickly intervene', claiming that the plan would "prevent millions?of?eligible?voters from receiving mail-in ballots which they are entitled." Donald Trump has said repeatedly, without evidence, that voting by mail is more susceptible to fraud. Reporting by David Shepardson & Jacob Bogage
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Mexico City is disrupted by protests and construction delays ahead of the World Cup
The World Cup kicks off in Mexico City on June 14, and the city is experiencing chaos as a result of mass protests, road closures, and construction projects. Mexico City is hosting the inaugural World Cup match between Mexico vs South Africa at Azteca Stadium in the capital on June 11. Teachers and other groups blocked major roads and marched in protest of Mexico's global attention. The protests could escalate if the government of President Claudia Sheinbaum does not address their demands. In official statements posted on social media, the CNTE, a dissident wing within the National Teachers' Union, threatened to hold mass protests during the World Cup opening. The union demands that the government honor a campaign promise to repeal a law passed in 2007 which overhauled pensions and social security for workers in the public sector, as well as raise salaries. Rodrigo Arias is a 40-year veteran teacher from Oaxaca, in the southern part of the country. "There's neglect. There is a policy that manages timelines and makes commitments which are never kept. We will continue mobilizing until our voices are heard - 'even with the World Cup looming on the horizon,' said Arias outside the Interior Ministry where the CNTE held a protest as its leaders met authorities to try and reach agreements. Insurgentes Boulevard and Paseo de la Reforma are the two busiest boulevards in the capital. Teachers were blocking roads in other parts of the capital as well, creating traffic gridlocks and frustrating commuters. On Tuesday, protesters smashed the statues of footballers that towered over Mexico City's Paseo De la Reforma. Arias stated that those responsible for the incident were not union members and that the CNTE did not seek to cause property damage or confrontation. To protect themselves, businesses on the avenue erected metal or wooden barriers by Wednesday. Sheinbaum stated at her morning press conference that she wouldn't be manipulated into provocation or ordering a crackdown against the protests. In Mexico City's downtown,?retired magistrates and judges? also demonstrated, demanding pensions and severance payments following a 2024 judicial restructuring that restructured Mexico's justice system. Armando Escobedo, a driver of a delivery truck, lamented that the traffic was causing him to lose too much time. He took a detour in order to avoid street closures. "You must be sympathetic with the teachers, but they hurt us at our work," he said. Mexico will host thirteen World Cup matches, five in Mexico City and four in each of the cities Guadalajara?and Monterrey. Mexico City has undertaken several infrastructure projects ahead of the World's largest sporting event. The Benito Juarez International Airport, Mexico City's busiest and largest airport, is still undergoing renovations. Also, repairs have not been completed to the metro system or the main avenues of the capital. A metal structure that was part of a pedestrian walkway at the airport collapsed on Tuesday, injuring an automobile. Reporting by Diego Ore, Alberto Fajardo and Stefanie Eschenbacher. Editing by David Gregorio.
Report: US investor Castlelake contacts MSC to bid for easyJet
Corriere della Sera, an Italian newspaper, reported that Castlelake, a U.S. investment company, is interested in MSC, which is the largest shipping group in the world, as a possible partner for a takeover bid of 'British budget airline easyJet.
EasyJet's shares were up by 2.3% at 0803 GMT. They are up about 15% since Castlelake announced last week that it is in the preliminary stages of considering an easyJet takeover. The price would be over 403.23 pence a share.
According to British takeover rules, the firm only has until 26 June to either make a bid or walk away.
Analysts say that while easyJet called Castlelake's timing as "highly opportunistic", the low valuation of the carrier, its slots at major airports and stable fleet make it an attractive takeover target.
Corriere, citing sources familiar with the discussions, reported that if Castlelake decided to "present a formal offer for 'easyJet" by the deadline it hoped to team up with MSC in order to ensure that its bid met EU ownership rules.
The article also stated that MSC was a possible suspect and that it had been contacted by two other sources.
MSC and easyJet refused to comment on the reports. Castlelake has not responded to the request for comment.
MSC is a Swiss-based global group that includes container shipping, logistics operations, terminal and inland transport, as well as passenger cruises. It's run by Italian billionaire Gianluigi Aponte.
It also holds a 49 percent stake in the Italian high-speed railway operator Italo.
The report said that a combination with 'easyJet' would allow MSC control of the leisure travel chain, from flights to cruises, similar to the German travel group TUI.
EasyJet owns and operates a holiday package business that was launched in 2019. This business is a major contributor to the company's profits, boosting its overall performance. (Reporting from Giulia Segreti, Rome; and Tuhina Ankita Bora, Pushkala Aripaka, Bengaluru. Editing by Gianluca Smeraro and Louise Heavens.
(source: Reuters)