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Transportation strike in Tunisia increases pressure on President
Transport services were halted in Tunisia Wednesday as workers demanded better working conditions, higher wages and urgent reforms. This added pressure to President Kais Said to address the deepening crisis. Tunisians have suffered from poor public services for many years, particularly in the sectors of health, education, transportation and investment due to a lack of funding and public investments, as well as frequent interruptions in water and electricity supply. Saied, a man who has been in power since 2021 and tightened it, accuses those he believes are conspirators, seeking to undermine the government and exacerbate social tensions. The three-day strike by the UGTT union disrupted everyday life in major cities as well as rural areas. The metro stations and buses in Tunis were deserted, forcing commuters into private cars, unlicensed motorcycle cabs, and taxis. "We suffer." "There is no transport, we have no jobs, and things are getting worse and more expensive," said Ayman Amiri in the capital as he stood at a bus stand. Transport unions, who claimed that the first day of the strike had been a 100% success, have said that the sector is collapsing. The Ministry of Transport stated that the union's demands for financial compensation were unjust and would not be met until revenues of the public transport companies increased. The ministry also stated that the recent purchase of hundreds buses from China, Europe and other countries would improve service. (Reporting and editing by Barbara Lewis; Tarek Amara)
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EU wheat prices rise, supported by high Russian rates
The price of European wheat rose on Wednesday, after the session had seen a sharp fall. This was due to strong Russian prices as well as concerns over Germany's crop. At 1335 GMT, the benchmark September milling wheat price on Paris' Euronext rose 0.4% to 197.50 euro per metric tonne. A trader stated that "Euronext's not increasing because funds are selling", citing high Russian prices. Russian farmers have started to sell their new crop more after a slow start. However, they are still demanding high price as many ships are waiting in export ports to load supplies. In the next few days, a cargo of 63,000 tons wheat bound for Egypt is expected to arrive in French ports Rouen and La Pallice. Egypt's State Grain Buyer said in late June that it expects wheat shipments to come from France and other European nations as it continues its efforts to diversify the supply sources and bolster Egypt's strategic reserves. The traders were skeptical that large volumes of exports delayed had been shipped to other countries to supply. Traders said that the repeated rains in Germany and Poland during this week have caused quality damage at the last minute to some wheat ready for cutting and disrupted harvesting. One German trader stated that the quality of German wheat has suffered some damage. Rain almost every day is the worst thing you can imagine. There is still the chance of a good crop, if weather conditions change. After all, most German wheat is harvested in August. In Germany, rain will continue to fall into the first week of next year. Rain has also disrupted the harvest in Poland. One Polish trader stated that "heavy rains in Poland and only a few sunny days have caused harvesting to be disrupted, and there is much uncertainty about the quality of wheat among farmers." "I estimate that only 20% of Poland’s wheat has been harvested. The results vary greatly from region to region." Farmers talk about low quality criteria (low falling numbers) in wheat. This may mean that more than expected of Poland's wheat crop will only meet animal feed standards. Mark Potter edited the article.
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BP continues to assess the quality of BTC oil as loading continues
BP, operator of the Baku, Tbilisi, Ceyhan (BTC), oil pipeline, announced on Wednesday that it would continue its extensive quality evaluation of Azeri BTC by taking samples at each loading terminal. Last week, organic chloride contamination was found in Azeri BTC cargoes. This caused a drop in price differentials of four years and caused several days delay in loadings at Turkey's BTC Ceyhan Terminal. Sources say that the extra testing has caused delays in part. A port agent said that after enough oil is poured into the BTC Ceyhan terminal to form a cargo, the test results are presented to charterers waiting to load in the port. Unknown is the total number of Azeri crude oil cargoes that have been contaminated by organic chloride. Austria's OMV, and Italy's Eni confirmed that the cargoes purchased by both companies were contaminated. BP said it worked closely with Azerbaijani Socar to manage off-spec crude stored at the terminal while export operations continue. Kpler, a firm that provides analytics services, reports that six Azeri crude cargoes have been loaded since the first report of organic chloride contamination on July 22. Reporting by Robert Harvey in London, Shadia Nasralla and Nailia bagirova from Baku. Lousie Heavens, Mark Potter and Lousie Heavens edited the report.
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Snam confirms its 2025 guidance and reports a 5.3% increase in core profit for H1.
Snam, the Italian gas grid group, said that its core earnings adjusted for inflation rose by 5.3% during the first half of this year. This was due to growth in its business in gas infrastructure. The company also confirmed its full-year guidance. The adjusted earnings before interest taxes, depreciation, and amortization (EBITDA), came to 1,49 million euro ($1.71 billion) during the period. Adjusted net profit increased by 8.5% on an annual basis, reaching 750 million euro. Snam published its industrial plan 2025-2029 for 2025 in January. It targets 2025 adjusted EBITDA at 2.85 billion euro and adjusted net profit of 1.35 billion euro. In a press release, CEO Agostino Scornajenchi stated that "Gas continues to demonstrate its strategic role as an energy vector for sustainable integration of energy".
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Old Dominion misses its second-quarter estimate amid freight recession
Old Dominion Freight Line, which operates in a long-term freight downturn, reported its second-quarter profit and revenue below Wall Street expectations on July 30. The U.S. trucking sector is struggling with low volumes, persistent overcapacity and low rates, as a result of the recessionary phase that began after the post-pandemic boom in 2022. Experts predict that the freight recession will continue through the second half. As the industry struggles to cope with the changing global macroeconomic climate, extra capacity is slowly leaving the market. Old Dominion says that the slow growth of domestic industrial production also has a negative impact on carrier results. Before the bell, shares of Thomasville's less-than truckload carrier (LTL), which serves companies in the manufacturing, retail, automotive, and healthcare sectors, fell 4.4%. LTL companies operate by transporting multiple shipments for different customers in a single truck. These shipments are then routed via a network service centers where they are transferred onto other trucks that have similar destinations. Operating expenses as a percent of revenue have increased to 74.6%, up from 71.9% one year ago. An increase in the operating ratio indicates an increase in cost, and therefore lower profitability. Total revenue for the company fell by 6.1%, to $1.41 Billion in the third quarter. Profit per share fell by 14%, to $1.27. According to data compiled and analyzed by LSEG, analysts on average expected revenue of 1,42 billion dollars and profit per share of $1.29. (Reporting and editing by Pooja Deai in Bengaluru, Abhinav Paramar from Bengaluru)
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IndiGo's first-quarter earnings are lower due to currency losses
Interglobe Aviation (the operator of IndiGo) reported a decline in its first-quarter profits on Wednesday. The company was hit by escalating forex losses as well as softer growth due to border tensions between India & Pakistan. India's largest carrier by market share posted a profit for the quarter ending April-June of 21.61 billion rupies ($247.2m), down from 27.27 bn rupies a year ago. The total expenditure rose by 10% and foreign exchange losses increased by more than double. Analysts say the carrier's success has been attributed to a combination of factors, including increased incomes, sustained travel demand post-pandemic, and continued network and fleet expansion. Booking cancellations in April and may following the border conflict between India, Pakistan and Afghanistan impacted the quarterly revenue growth. In June, following the political unrest in India, a rival airline Air India's plane crashed in Ahmedabad, killing 260 people. This caused flying anxiety in many Indians. Pieter Elbers, Chief Executive of Pieter Elbers Aviation said that the June quarter was marked by external challenges which created headwinds in the aviation sector. In terms of available seat kilometers, the company's capacity for the first quarter grew by 16.4% compared to last year. In May, the firm projected a growth of "mid teens percentage range". IndiGo was able to cushion a 5% decline in yields. Yields are the average amount of money earned per passenger, per kilometre. IndiGo shares closed down 0.3% ahead of the results.
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India Aviation Watchdog Finds 263 Faults in Indian Airlines' Annual Audit
India's aviation regulator announced on Wednesday that it found 263 safety-related mistakes at the country's airline companies, including 23 at IndiGo, the largest carrier, and 51 at Air India, the second largest. This was part of the regular audit conducted by the agency every year. The Directorate General of Civil Aviation said that the audits were conducted in accordance with International Civil Aviation Organization requirements as well as global best practices. The DGCA found 51 safety lapses in Air India's July audit. These included lack of training for some pilots as well as the use of simulators that were not approved. The audit had nothing to do with the Boeing 787 crash that claimed 260 lives in Ahmedabad last month. Air India's budget carrier, Air India Express, was also cited by the DGCA as having 17 deficiencies. The regulator discovered 25 mistakes at Air India Express. Air India Express is the budget airline. Akasa Air has not yet been audited. The regulator did no specify what type of violations were found, but divided the list into "Level II", or other non-compliances. The DGCA reported that 19 "Level 1" breaches had been found by Indian airlines. Reporting by Abhijith Ganahapavaram, Editing by Kim Coghill
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Ukraine's farming unions raise barley exports from China
The UAC, a farming union, said that Ukraine exported 140,000 metric tonnes of barley in July so far and will likely ship between 350,000 and 400,000 tons in the month of August. "China has contracted 500,000-555,000 tons of barley (for July-August). UAC's weekly report stated that another 350,000 to 400 tons of barley still needs to be shipped by August. The total volume of barley exported for the months of July and August was 770,000 tonnes. Barva Invest, a Ukrainian analyst, said that Chinese companies had contracted to purchase up to 700 000 tons of barley from Ukraine in 2025. Ukraine is one of the largest barley producers and exporters in the world. Beijing has certified it to supply barley for Chinese markets. According to the Ukrainian grain traders' union UGA, China will be the largest importer of Ukrainian barley for the 2023/24 crop season. The volume of imports is 702,000 tons. (Reporting and editing by David Goodman.)
Armenians are increasingly worried about war with Azerbaijan due to escalating ceasefire violations
Khnatsakh residents are anxious at nightfall.
Locals claim that every evening, around 10 pm, Azerbaijani soldiers fire into the night skies from their positions high above.
Villagers say that bullets have been hitting houses regularly, but no one has been injured so far. Azerbaijan has denied that its troops are firing across the border and accused Armenian forces of violating ceasefire.
Karo Andranyan (66), a retired mechanic, said, "It is very tense at home because we have children, little ones and elderly."
Azerbaijani flags and a military position on a hillside are only 100 metres away from his door. This is a reminder that Armenia's bitter enemy is close by. Since the early 1990s, the heavily militarized 1,000-km border is closed.
Two major wars have been fought in the last 40 years. This has destabilised the Caucasus, a region which is important for Russia, Iran, and Turkey because it contains major oil and natural gas pipelines towards Europe.
Experts say that the rising tensions along the border increase the likelihood of a new conflict between Armenia and Azerbaijan, as the two countries approach a crucial juncture in their tortuous peace process.
In March, both sides announced that they had reached an agreement on the outline of a treaty of peace to be signed by 2026. This raised hopes for reconciliation. The draft envisages both sides delineating their shared borders, but requires Armenia to amend the constitution before Azerbaijan can ratify the deal.
After months of relative calm, the reports of ceasefire breaches along the border are now soaring.
Andranyan believes the gunfire at night is meant to intimidate both the local villagers and the small garrison Armenian troops that are stationed in the village. He said that the village, which according to census data had 1,000 residents, was emptying because locals were afraid of a return to war.
What are we to do?
Despite the fact that there has been no death on the border in over a year, cross-border gunfire is reported frequently. Azerbaijan has made the majority of accusations against Armenia since March. These include cross-border gunfire, and damage to property.
Both sides have denied claims of ceasefire violation.
Since 2020, the simmering conflict has decisively shifted in Azerbaijan’s favor. The oil and gas producer regained territory lost during the 1990s. It also progressively reestablished control over Nagorno Karabakh where ethnic Armenians established de facto autonomy since the collapse the Soviet Union. It retook Karabakh in 2023, causing 100,000 ethnic Armenians from the region to flee to Armenia.
Marco Rubio, the U.S. secretary of state, told a hearing of Congress last month that there was "a real risk" of war. He stated that the U.S. wished Azerbaijan to "accept a peace accord that doesn't cause them to invade a neighboring nation, Armenia."
Azerbaijani president Ilham Aliyev has been in power since 2003. He said that in January, Armenia was a "fascist menace" that must be eliminated.
Laurence Broers is an expert in Armenia and Azerbaijan from London's Chatham House. He said that a full-scale conflict was possible but more localised clashes are more likely.
He said Azerbaijan's population, which is 10 million, is three times that of Armenia. It has little incentive to sign a peace agreement quickly and could instead use smaller scale escalation to force its neighbor to make further concessions during the talks.
Ilham Aliyev's strategy of escalation and militarization was a great success, he said.
The Armenian authorities have insisted that there will not be a war. Nikol Pashinyan, the Prime Minister of Armenia, said in a speech delivered last month that "despite all arguments and all provocations", the two countries will not fight again.
Azerbaijan’s Foreign Ministry responded to questions regarding the tensions along its border by referring to previous comments.
In a May statement, Baku said it was committed to peace and had no territorial claims against Armenia. In a statement in May, it said that Yerevan’s actions "call Armenia’s commitment to peace into question".
The Azerbaijani Defence Ministry has denied Armenian reports that cross-border gunfire had taken place.
Tensions in the South
The conflict is centered in Armenia's southernmost region of Syunik, where the majority of ceasefire violations have been reported.
Syunik divides Azerbaijan's main body to the east and the Azerbaijani enclave of Nakhchivan in the west. It is also a crucial trade route between Armenia and Iran, with which it shares a border to the south.
Azerbaijan demands that Armenia build a route through Syunik and Nakhchivan since 2020. Baku said the passage would be Armenian territory, but with minimal control from Yerevan.
Azerbaijani officials also claim that the southern part of Armenia was historically Azerbaijani land, but they haven't made a formal territorial claim.
Armenia has closed its border with Azerbaijan and its frontier with Turkey, a close ally to Baku. This makes its border with Iran the lifeline of trade. Syunik's corridor could cut off the country's access to its remote mountainous border.
Armenia and Iran share a warm relationship, despite Armenia’s Christian faith and its increasingly pro-Western orientation. Iran was Armenia's largest importer in 2022. Tehran's Defence Minister visited Yerevan in May. Iranian media reported that he expressed Iran's opposition against redrawing borderlines in the region.
Armenia's tensions with its traditional ally Russia are a major problem. Russia opposes Armenian efforts to move closer to the west and has strengthened its ties with Azerbaijan.
"Armenia has open borders with Georgia and Iran. "This keeps the country moving," said Tigran Grizaryan, director at the Regional Centre for Democracy and Security, a think tank in Yerevan.
Grigoryan stated that Azerbaijani demands for the corridor may be the spark to future military escalation. He said that the ceasefire violation could be an attempt to force Armenia to make concessions over the issue.
He said: "If Armenia lost its border with Iran that would be a disaster."
Requests for comments from the Iranian and Russian Foreign Ministries were not answered.
The Iranian connection is evident throughout Armenia's south.
Iranian road workers work to widen a mountainside road that is clogged by lorries coming from the south, headed north toward Georgia and Russia.
Some locals are selling red wine in plastic bottles to newly-arrived truckers from Iran where alcohol is prohibited.
Meghri is the historic town at the southernmost point of Armenia, and the gateway to Iran.
Bagrat Zakaryan, Bagrat's deputy mayor, said that the town, which is only 16 km from Azerbaijan and has a population of 4,000, had its everyday life overshadowed due to tensions with Baku.
He said that "given the recent events of Karabakh and what President Azerbaijan says, there's this feeling of terror."
Opportunity for Peace
Some people are more optimistic than others about the prospects of peace.
Armen Davtyan, who was deputy director at Meghri railway station from 1993 to 1993, sat on a crossroads that connected Yerevan with Baku and Iran with the Soviet Union until its dissolution in 1991.
After the Karabakh War of 1988-1994 and the closing of the border, Davtyan began working as a borderguard.
A derelict train with an emblazoned Soviet emblem lingers in the parking lot of the station, just metres away from the Iranian border.
Davtyan said that he remembered fondly the days before the war, when Armenians worked with Azerbaijanis on the railways. He hopes to see cross-border trains again arrive at Meghri Station one day.
He said: "I understand that some people fear that the Azerbaijanis may return if the rail reopens."
"But if people in 2025 are still afraid of us opening up transport links, that seems a bit absurd." (Reporting and editing by Daniel Flynn; Felix Light)
(source: Reuters)