Latest News
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Vietnam's Cai Mep terminal begins gas delivery to Phu My Power Complex?
The company said in a?statement?on?Friday that the Cai Mep terminal in Vietnam, owned by Atlantic Gulf & Pacific LNG (AG&P LNG), had begun supplying?regasified liquefied?natural gas to the largest gas-fired?generation?complex of the country. The Singapore-based AG&P LNG unit, a U.S. investment firm Nebula Energy said that regassified LNG was now flowing through a pipeline it owns to the 900 megawatt Phu My 2.1E and 2.1E power plant, which is?operated? by a Vietnamese state utility, Vietnam Electricity Corporation. AG&P LNG said that the milestone established Cai 'Mep LNG Vietnam as the first private terminal to supply regasified LNG to 'Phu My Power Complex. Gas sales agreement between EVN and a subsidiary of Cai Mep, Power Generation Corporation 3 (PGC3), is responsible for the deliveries. The first gas sent-out marks completion of the commissioning of a new Cai Mep-Phu My pipeline and gas distribution stations, connecting the terminal with... the 4 gigawatt Phu My Hub. Cai Mep is one of Vietnam’s two LNG terminals. It is located in Ba Ria-Vung Tau Province, which is situated to the south. The terminal has a 3 million metric ton capacity per year. The terminal began operations in the third-quarter of last year and is connected to the Phu My Industrial Zone by pipeline. AG&P LNG raised its stake in the terminal from 50% to 100% in April. The Thi Vai terminal, operated by PetroVietnam Gas in Ba Ria Vung Tau Province, is Vietnam's second operational LNG import facility. The terminal?supplies fuel for the Nhon Trach 3 and 4 Power Plants, the first power plants in the country to run on LNG exclusively. Commercial operations began in December.
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BHP's Australian iron ore hub elects workers to stop work
The Electrical Trades Union reported on Friday that the majority of BHP high-voltage power network workers in Western Australia's Pilbara Region have supported strike action. This is a 'escalation' of labour unrest less than a week after hundreds of BHP iron ore miner employees walked out. The union reported that 97.5% voted for work stops ranging from 30 to 24 hours. ETU stated that "High voltage workers seek transparent classifications, clear criteria for promotion, equal pay for employees doing the same job, and enforceable wages and conditions guaranteed through a collective contract." The union stated that the vote came after?months? of limited industrial actions, including bans on overtime, and more than a year?of unsuccessful negotiations?with BHP. According to its website, the ETU represents more than 70,000 'electricians, electrical apprentices, and electrical workers' throughout Australia. BHP said in an email that it will continue to focus on achieving fair and reasonable agreements. Further bargaining meetings are scheduled for Port Operations workers on Tuesday, with the Fair Work Commission acting as an independent facilitator and high voltage employees next Thursday. The miner stated that the Fair Work Commission was the most constructive way to achieve the best result. After the parties failed in their attempts to agree on the terms of a four-year contract, hundreds of BHP Port Hedland iron ore workers went on strike for eight hours on Thursday. Port Hedland, a major artery through which BHP routes $80 million in iron ore per day, is the site of the biggest strike at BHP in?at least three decades. Unions are looking to gain a foothold in Australia's Iron Ore Regions. Reporting by Sneha Lahiri and Shivangi lahiri from Bengaluru; Additional reporting by Nikita Marie Jino, Editing by Tasim Zaid and Niveditarjee
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Sources say that RPT, a Saudi Arabian-backed developer, is looking for investors to invest in World Cup stadiums.
Three sources have confirmed that Saudi Arabia's ROSHN group is looking for investors to help finance its Aramco stadium, which will host the FIFA World Cup in 2034. The state-backed developer wants to free up capital so it can deliver projects as part of the kingdom's economic transformation strategy. Saudi Arabia is relying more on outside capital as it tries to reduce its dependence on oil and gas revenues. Two sources who declined to be identified because the matter was not public said that JPMorgan had hired ROSHN to manage the equity raising process. According to a third source, PIF and ROSHN are testing the private investor's?appetite? for a stadium. Aramco, JPMorgan and ROSHN declined to comment. PIF and ROSHN did not respond to requests for comments. STADIUM TRANSACTION WOULD MIRROR STRUCTURE OF PIPELINE DEALS The stadium is expected to be finished by the end this year, and will host its first match in January. Saudi Aramco is the state-owned oil company that operates the stadium on a 25-year concession. ROSHN, as the owner and developer, owns the project. Sources said that ROSHN's transaction will likely follow a structure of lease-and-leaseback. Investors have been attracted to similar infrastructure fundraising deals, such as those used by Aramco in order to raise money for its oil and gas pipelines. According to the model, ROSHN will?establish an entity that controls the leasehold it would co-own?with the investors who would provide the funds upfront. ROSHN would be able to use its capital elsewhere, as the transaction would bring in new funding from investors. Investors would in turn receive a stream of long-term income in the form of Aramco's lease payments. SAUDI ARABIA STRUGGLING WITH FLAGSHIP WORKS PIF, as part of its Vision 2030 economic revamp plan, has heavily invested in sports including Formula E, boxing and tennis. The 2034 World Cup will be a major event in the Kingdom's economic transformation plan. Riyadh has begun building or renovating 15 stadiums in five cities, including the Aramco Stadium, which seats 47,000 people, located in Al Khobar. It is also working on 132 training facilities. Saudi Arabia's Prince Abdulaziz Bin Turki AlFaisal, Saudi Arabia's Minister of Sports, said that the 2034 competition will be the first to host the expanded 48-team tournament in a single country. But overspending and lower-than-anticipated global oil prices that have throttled state revenues have left Saudi Arabia struggling to deliver some of its flagship projects. Trojena was initially set to host 2029 Asian Winter Games, but delays have been experienced. Riyadh hopes private investors can help cover the shortfall. A deal for the Aramco Stadium wouldn't be the first deal involving Saudi owned sports assets. Kingdom Holding Company and the PIF signed an agreement to purchase a 70% stake of Saudi Pro League soccer club Al Hilal in April. Last year, an American investor bought the smaller club Al Kholood as part of a larger privatisation campaign. In May, it was reported that the PIF had been in discussions with investors about a possible minority stake in Newcastle United. This would be part of the fundraising plans to build the stadium.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets or stocks in France and Benelux. PARIS AIRPORTS/AIRFRANCE KLM: France’s civil aviation authority has asked airlines to reduce flights by 20% at Paris-Orly airport on Thursday evening, due to storm risk. Delays are also expected at Paris Charles de Gaulle Airport. AEROPORTS de PARIS SA : The Paris airport operator reported that June group traffic dropped 1.4%, to 33.4 millions passengers. It also revised its 2026 passenger traffic growth projection for Paris from a range of 1.5-2.5% to 0.5%. AEDIFICA: Aedifica, a Belgian investor in healthcare real estate, announced an investment of around EUR21 million into two care homes located in Spain and Finland. AXA: Ardian, a private equity firm, announced that AXA would be?selling its 10% stake in Ardian while Wafra and Assurances du Credit Mutuel (ACM), respectively?increased their respective shares in Ardian. The Financial Times reported Thursday that Dassault Systems, a French software company, is in negotiations to purchase drug-trial software developer ArisGlobal for around $2 billion from Nordic Capital. This was based on the reports of people familiar with this matter. VINCI SA : French infrastructure group Vinci reported that its airports division experienced a 1.3% decline in passenger traffic to 85.1 millions in the second quarter 2026. WORLDLINE SA - French payments company Worldline has announced that it was selected by the European Central Bank to take part in the Eurosystem pilot project for the digital euro. 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............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report..... (Gdansk Newsroom)
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State media: Iran's IRGC claims to have targeted the US command centre in Syria
State media reported that Iran's Revolutionary Guards claimed on Friday they had?attacked a U.S. special operations command centre in al-Tanf, Syria?in retaliation?for the killing of Iranian soldiers in Iranshahr. The Syrian government and the U.S. Military did not immediately comment on the claim. The U.S. military announced in February that it had completed its withdrawal from 'al-Tanf,' a base located at the confluence between Syria, Jordan and Iraq. Syria has avoided being drawn into regional conflicts that have engulfed neighboring countries such as Lebanon, where Hezbollah fought against israeli forces, or Iraq, where Iran-backed groups launched drone and missile attacks. In March, the Syrian president Ahmed al-Sharaa stated that his country will not get involved in any conflict until it is attacked. "Syria will not be involved in any conflict unless it is targeted by anyone," said?Sharaa at a London event organized by the?Chatham House?think tank. According to the state media, the Guards said that Iran had full control of the Strait of Hormuz. They also stated that no oil or natural gas would be shipped through the waterway as long as U.S. attacks continued. Reporting by Jana Choukeir and Maya Gebeily, both in Dubai; editing by Jacqueline Wong & Jamie Freed
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Iran launches new attacks after six days of US strikes
Iran said it launched new attacks on U.S. military facilities in the Gulf Friday, after six consecutive nights of U.S. strikes? on Iranian military installations. Last month's ceasefire?descended to daily attacks and counterattacks. The U.S. Military said that it had?completed?another night's strikes against Iran, "to further reduce Iranian military capabilities", which included on Qeshm Island as well as near Bandar Abbas. Bandar Abbas is home to Iran’s largest port along with key Revolutionary Guards and Navy facilities. The U.S. Central Command released a statement that said "U.S. Forces, including fighter planes, aerial drones and warships launched precision munitions which hit dozens Iranian military targets, such as coastal surveillance sites and air defense systems, military logistic infrastructure and maritime capabilities." Iran has launched missiles and drones against U.S. military base in neighboring countries, including an airbase?in Jordan. Iran's military claimed that it attacked U.S. installations in Bahrain and Kuwait early on Friday morning. A witness reported hearing several explosion-like noises in the Qatari capital Doha. The Ministry of the Interior confirmed that a child had been injured by shrapnel. Iranian media reported five bridges, the Bandar Khamir train station and the Iranshahr Airport were all hit by the latest U.S. strike. IRNA, the state news agency, reported that seven people had been killed by U.S. bridge attacks in Bandar Khamir. This port city is located in southern Iran. Could not verify immediately the reports. Ships Hailed Again in the Strait of Hormuz This escalation, which has once again affected the Strait of Hormuz - 'the world's main shipping route for gas and oil,' has pushed up energy prices globally. Washington has again blocked Iranian ports and Tehran has resumed its blocking of the Strait. Sources say that Iran could force its Houthi allies to close the Bab al Mandeb at Red Sea's mouth if Washington attacks Iran infrastructure. Last week, Iran hit ships that were moving along a corridor through the strait. Karoline Leavitt told a White House briefing that Donald Trump will not "sit back and allow these active terrorist acts to take place within the strait" without making sure Iran pays for it. She added that the president is "always open for diplomacy, at the same time." Iranian sources said that Iran wanted to establish its control over the Strait. However, Tehran did not want an escalation, as it would undermine June's Memorandum of Understanding, which it still views as giving it much of what it desired. Residents in Iran are unnerved by the recent?bombing. "Living in constant fear of war is exhausting. You can't live this way... Personal, I would like diplomacy prevail," Mahlegha told a reporter in Tehran. Mahlegha is a 46-year-old government employee. IRAN RETENTS ITS GRIP ON STRAIT Iran wants to charge a fee for passage to all ships using the Strait of Hormuz. This will be done at the end of the 60-day period of negotiations set out in the memorandum of last month. Washington encouraged ships to take an alternative route south along the Omani Coast. U.S. forces claim that their airstrikes hit'military targets on the coast in order to cripple Iran’s ability to control the strait. Iranian Army spokesperson Brigadier-General Mohammad Akraminia stated on Thursday that this wouldn't work as Iran could attack the strait anywhere on its land. Trump hasn't ruled out using ground forces to take over Kharg Island, which is home to Iran's primary oil export terminal. He has repeatedly threatened to strike Iranian power plants and roads next week, if Tehran does not resume negotiations.
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China's leading airlines warn of heavy losses in the face of an uncertain summer
China's largest airlines are facing a 'challenging' outlook for the summer peak travel season after warning of heavy 'losses' in the first half. Weaker demand has raised doubts about their ability to absorb higher fuel costs. Air China, China Eastern Airlines, and China Southern Airlines warned on Tuesday that they expect combined first-half losses of up 9 billion yuan (1,33 billion dollars). This is a stark reversal to their combined first quarter profit, which was boosted by a strong Lunar New Year market. These losses highlight the dilemma faced by Chinese airlines. Raising fares to cover higher fuel costs could further weaken demand, but keeping ticket prices low would leave carriers with the added expense. Parash Jain is the global head of HSBC’s transport and logistics research. He said that a “negative wealth effect” was reshaping Chinese consumers' habits, as?economic development slowed, and every increase in airfare risked lowering consumer demand. Jain noted that the rising ticket prices were hurting summer travel demand, and people are using high-speed rail for shorter distances. He also mentioned weather disruptions as well as a smaller pool school-aged children. "But, the most significant reason for the weaker demand has to be the higher?ticket price." Analysts at HSBC expect China's biggest carriers to suffer combined losses of 16.8 billion yuan by 2026. This is compared to the current market expectations of a combined profit of 1.3billion yuan. Air China stated in a filing to the stock exchange that high fuel prices have "dramatically squeezed" airline profits. Chinese airlines, unlike many of their Asian competitors, do not hedge much of their fuel purchase, which leaves them more vulnerable to the surge in oil prices caused by the conflict with Iran. Jet fuel prices are still about 50% higher than pre-war levels, despite the fact that they have dropped from their peak in the second quarter. Bank of America analysts stated in a report that "weak demand conditions will likely remain the main concern? heading into the summer peak period" due to the normalization of jet fuel. Chinese airlines are usually most profitable in the third quarter. Flight Master, a data-driven aviation firm, predicts that the number of passengers carried by Chinese carriers on domestic and international routes in July and august will drop 3.6% year-onyear to 142 millions. This would be the first time since 2022 that this peak season has been reduced. According to Flight Master, from July 1-14, the average number of flights per day decreased by 2.2% compared to last year. Domestic flights fell 1.8%, while international flights dropped 3.6%. The average economy class fare was 831 yuan. This is down 1.2% from last year and 6.1% lower than 2019 levels. China's domestic passenger market contracted 6.2% in May, compared to a year ago, according to the International Air Transport Association. This is the lowest performance among major domestic markets worldwide and the first decline since the pandemic that was not tied to?the timing? of the Lunar New Year. Since the beginning of the Iran crisis, the big three airlines have seen a surge in demand for European routes as travellers avoid Middle Eastern hubs that are disrupted. According to Flight Master, these gains are being eroded as Gulf carriers offer cheaper fares and restore flights.
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US leads investigation into Ryanair Boeing 737 engine malfunction over Greece
The U.S. National Transportation Safety Board announced Thursday that it will be leading the investigation into a recent incident where a passenger was partially sucked from a Ryanair Boeing 747's broken window in Greece. The NTSB stated that Greece delegated to it the leading role in the investigation. According to the Federal Aviation Administration and video, a piece of engine fell off the Boeing 737 NG shortly after takeoff from Thessaloniki, Greece on 10 July. The plane was headed for Germany when it lost pressure and had to make an emergency landing. Ljubisa karovic, a Serbian national, was pulled from the window by fellow passengers. He was hospitalized and injured. This event was similar to two?previous Southwest Airlines Boeing 737 NG flight problems in 2016 and 2018. The?latter incident saw a passenger die after being?partially sucked out of the window by a damaged fan blade. In an interview, FAA Administrator Bryan Bedford said: "I do not think that the recent Ryanair incident is similar to what the Southwest Incident was." The NTSB urged Boeing to redesign the fan-cowl structure of 737 NG aircraft after the Southwest incident. In 2023, the FAA issued a directive on airworthiness that must be completed by the end of 2028. Bedford said that the FAA's response to the incident in 2018 is being re-evaluated as a result of the ongoing investigation. "Did We Miss Something?" It's too early to say, but Bedford added that we can't remove the item from the board just yet. Southwest announced Thursday that it had completed work on 80% of the affected planes, and was ahead?of schedule in order to meet the FAA deadline?of July 2028. Ryanair's Boeing 737 NG models are powered by CFM56 engines from CFM International. The NG version of the 737 is the one that preceded today's MAX. (Reporting and editing by Cynthia Osterman; David Shepardson)
Swiss stocks: Factors to be on the lookout for July 17
Here are some of the main factors that could affect Swiss stocks on Friday:
H1 net income CHF 105.2 millions.
GEORG FISCHER
The expected proceeds of CHF 220 MILLION from the divestment and sale of the?industrial gas-turbine business will be used to reduce debt.
Company Statements
Novartis ?Fabhalta Receives FDA Approval.
ANALYSTS VIEWS
FLUGHAFEN ZUERICH AG-Jefferies raises the target price from CHF 246 to?CHF252?
ECONOMY
No major Swiss economic data scheduled.
(Reporting by Zurich newsroom and Gdansk newsroom) |1|For Top News in ?a multimedia Web format on Eikon visit: https://bit.ly/2NDFd6g FOR ?RELATED PRICES, NEWS AND ?OTHER ?TOPICS, DOUBLE-CLICK ON: Daily Swiss stock market report in ?German All SMI constituent ?stocks DJ STOXX index Top 10 STOXX sectors Top ?10 EUROSTOXX sectors Swiss ?mid-cap index Swiss all-share ?index Swiss market digest Sector overview All Swiss news Swiss research news All equity news SPEED GUIDES: |1|
(source: Reuters)