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UK lifts ban on Pakistani Airlines after Five Years
The UK has lifted its five-year ban against Pakistani airlines. They can now apply to resume UK flight operations, just as Islamabad intensifies efforts to privatise Pakistan International Airlines, the country's national airline. The ban was imposed by Pakistan in 2020. This came after an investigation into the validity and validity of the pilot licenses issued to Pakistani citizens following a PIA crash in which 97 people were killed. The British High Commission announced on Wednesday that the lifting of the embargo was due to improvements in safety by Pakistani authorities. The European Union made similar decisions just a few months ago. PIA is the only private airline in Pakistan that has operated long-haul flights from Britain to Europe. PIA estimated that the ban would result in a revenue loss of approximately 40 billion rupees (144 million dollars) per year. The airline considers UK routes such as London, Manchester and Birmingham to be among its most lucrative. It also holds highly sought after landing slots at Heathrow Airport in London that could become available again. In the first week of this month, Pakistan gave four groups permission to bid on a 51-100% share in PIA. The final bids will be announced later in the year. The government hopes that the recent reforms - which resulted in the airline making its first profit for 21 years – will attract buyers as part of a larger IMF-backed push to privatise. Khawaja Muhammad Asif, Pakistani Defense Minister, said at a Wednesday press conference that the resumption on all routes will improve PIA’s value before the privatisation. He said that there are plans to resume flights to New York. Charlotte Greenfield contributed to the reporting. Ariba A. Shahid, Karachi. Mark Potter (editing)
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Trade agreement between US and Indonesian firms
Donald Trump, the President of the United States, announced that Washington would lower its tariffs to 19% instead of threatening 32%. Increased Indonesian purchases of U.S. aircraft, energy and agricultural products will help Jakarta offset its nearly $18 billion positive trade balance. What we know so far about the deal: ENERGY Trump stated that Indonesia will purchase $15 billion of U.S. Energy Products, but did not give specific details. Pertamina, the Indonesian state-owned energy company, announced on Wednesday that it had signed Memorandums Of Understanding with several U.S. firms to optimize feedstock and crude purchases. These agreements included a collaboration in the refinery industry. The deal was reported last week to include Exxon Mobil Corp. and Chevron. AGRICULTURE Trump said that the agreement included Indonesian purchases worth $4.5 billion of American agricultural products. Last week, Indonesian wheat flour mills signed a $1.25 billion agreement with U.S. counterparts for the purchase of at least 1,000,000 metric tons U.S. Wheat per year between 2026 and 2030. reported exclusively that the deal would include purchases by instant-noodle giant Indofood while U.S. counterparts include Cargill, Bunge Global SA, Pacificor, Archer-Daniels-Midland, Columbia Grain International, and United Grain Corporation. Data from a local trade association revealed that the U.S. exported almost 700,000 tonnes of wheat to Indonesia by 2024. This made it Indonesia's third largest export destination, after Australia and Canada. Details on the quantity of soybeans, corn and cotton are not yet available. AVIATION Trump stated that Indonesia had committed to buying 50 Boeing jets. Trump did not give any details about the timeline for the purchase. Garuda Indonesia was said to be involved in the agreements for aircraft purchases. Garuda CEO announced last week that the company was in discussions with U.S. Boeing about buying up to 75 aircraft, including 737 MAX 8, 787 jets and other models.
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INDIA RUPEE - India and US inflation reports reinforce the downward bias on dollar-rupee premiums
Analysts say that the easing of inflation in India, and the tariff-induced pressure on prices in the U.S. have a negative impact on dollar-rupee premiums. India's retail price inflation reached a six-year-low in June. Meanwhile, U.S. consumer costs rose at the fastest rate since February. Higher goods prices hint at tariff effects. This divergence will likely persist. Economists predict that India's consumer prices index will reach a new record low in July. Meanwhile, the impact of tariffs is expected to become more apparent in U.S. inflation figures for July and August. The Reserve Bank of India is being urged to cut rates by at least one, but analysts are concerned that the Federal Reserve may not do so due to the increasing price pressures in the U.S. caused by tariffs. BofA Global Research believes that the Fed will not cut rates in 2025. It urges investors to "fade in" 2025's easing. The markets currently expect just two rate cuts this year. The divergent rate outlooks of the two central bank, primarily shaped by the different inflation trajectory, will put pressure on the dollar-rupee premiums that reflect the U.S. interest rate differential. These bets are likely to increase going into the meeting in August. "The odds have increased that India will cut rates again and that inflation will fall below 2% by July. Dhiraj Nim, ANZ's forex and rate analyst, said that this could put pressure on the USD/INR future premia. The implied yield for one year was down by 2 basis points to 1.96% on Wednesday. India's chances of a rate cut are increasing, while the odds of a rate cut in the U.S. are decreasing. The case is made for the 1-year rate to be lowered to 1.90%, according to a swap dealer at a private mid-sized bank. The rupee was slightly higher, at 85.78 dollars per rupee. This was due to a broad-based increase in interbank dollar sales.
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Finnair's operating profit comparable falls in Q2
Finnair, the Finnish airline, reported a decline in comparable operating profits for the second quarter on Wednesday. The reason given was labour disputes with pilots. The comparable operating profit for the year was 10.3 millions euros ($11.97) compared to 43.6 million. Finnair stated in a press release that the industrial action had an impact of approximately 29 million Euros on the comparable operational result. Turkka Kuusisto, CEO of Finnair, said that the industrial action taken by the Finnish Airline Pilots' Association (FAPA) in April as well as the Finnish Aviation Union for ground service personnel in May and in June had a significant impact on the comparable operating results. Finnair has revised its guidance for its comparable operating profit, which was previously between 100 and 200 million euros. (1 euro = 0.8607 dollars) (Reporting and editing by Louise Rasmussen, Essi Lehto)
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Syria's Aviation Comeback Struggles amid Regional Unrest
Industry officials say that poor infrastructure, regional conflict, and Israeli airstrikes have prevented more airlines from returning. This is hampering efforts to rebuild Syria's economy, which has been ravaged by 14 years of civil warfare. At least 11 foreign airlines will fly to Syria this month. This is up from only three a year earlier, as sanctions have been rolled back since the overthrow in December 2024 of Bashar al Assad, Syria's longtime leader. The world's largest airline, Emirates of Dubai, as well as the first two European Union airlines to fly into Syria in 2011 are Romania's Dan Air, and Greece's Air Mediterranean. Last month, airlines like Royal Jordanian Airlines, FlyDubai Airlines, Turkish Airlines, and Qatar Airways were forced to cancel a large number of flights that they had just launched because the Middle East's airspace was closed off to civil aviation due to the air and missile attacks by Israel, the U.S., and Iran. Also, there are dangers close to home. Israel launched strikes on Syrian government forces for the second day in southwestern Syria, Tuesday. It promised to demilitarize the area and protect the Druze minorities there. Airlines are concerned about the management and infrastructure of Syria's aviation industry. The International Air Transport Association, a trade association, said that progress was needed in the regulatory oversight, infrastructure investments, and compliance with international standards of safety and operation. Officials at Damascus Airport and Syria's Aviation regulator said that major carriers like Lufthansa, Air France KLM and others, who used to fly into Syria before the war, visited Damascus to assess infrastructure and former offices. Both airlines said they were not interested in restarting flights at this time. Last month, the small Romanian airline Dan Air opened its Bucharest-Damascus route. Matt Ian David, CEO of Dan Air, said that the logistics and regulatory complexity was what had held back operators up until now. He added that now sanctions have been eased to make Syria more accessible. Emirates resumed its flights over Syria at the end May for the first since the civil conflict, shaving an hour from a Dubai-Beirut flight. Several countries, such as the United States and Britain, advise their airlines not to fly over Syria. The European Aviation Safety Agency (EASA) warns that "there are risks of both deliberate targeting and misidentification civil aircraft". Syria's civil aviation authority announced that it had reopened the airspace to all users on June 24. The two runways of Damascus Airport were damaged by bombs during the civil conflict, but they have now been repaired. The airport was looted as well during the chaos that followed Assad's downfall. Alaa Sallal is the director of public relations for Syria's Civil Aviation Authority. He said that a number airlines have inspected security and infrastructure. Sallal stated that the airport construction was in a dilapidated state, and equipment was worn-out or missing. He said that the country lacks radar equipment, and is dependent on Lebanese radar or Turkish radar for monitoring air traffic. In a statement made earlier this month, the head of Syria's General Authority for Civil Aviation said that it wished to build new airports at Damascus and Aleppo as well as in central Syria. This will require time and money, which the war-ravaged nation may not have. NEW AIRLINES Most of the Iranian and Iraqi carriers who served Syria during its long conflict are no longer flying there. This reflects a change in political landscape following the overthrow of Assad by Iran and Russia. First to resume flights under Ahmed al-Sharaa, the new president, were the flag carriers of Qatar, and Turkey. Both countries supported the Syrian rebels during the war. The Turkish transport ministry said that Turkey, as a close ally to the new government, had been improving Syria's airports. Emirates said that the return of its Dubai-Damascus flight on Wednesday was the first since 2012. The flights will help to strengthen ties between the United Arab Emirates (UAE) and Syria, as well as attract investment. Flyadeal, a Saudi budget airline, has announced that it will soon begin flying to Syria. Others may have less reason to return, as Syria wasn't a big market even before the war. Those who flew there - Russia’s Aeroflot and Air France, Lufthansa’s Austrian Airways, LOT Polish, IAG’s Iberia, Italy’s ITA, Czech Airlines and China Southern – have not returned. Despite recent increases, the number international flights to Syria is still well below the pre-war level. Cirium data show that scheduled flights were 58% lower in July than they were in 2010. IATA stated that the lifting of sanctions has opened up new pathways for improved access to aircraft maintenance services, parts and certain commercial transactions. Visa restrictions for Syrian nationals have limited the mobility of passengers and the growth of the market.
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Maguire: China will cut electricity emissions to a record low by 2025
China's utilities have been able to achieve record-low emissions in the first half of 2025 by focusing on clean energy supplies. According to the energy portal, electricitymaps.com, carbon dioxide emissions per Kilowatt Hour (kWh) of Electricity averaged 492 Grams during the first half of 2025. This was the first time a reading under 500 grams per kWh had been recorded. It is also down from 514g/kWh in the same period of 2024, and 539g/kWh between January and June 2023. CLEANING UP The main reason for the reduction of emissions intensity was a nearly 23% increase in clean power production from January to June 2020. This allowed energy firms to reduce the output of coal and gas power stations. LSEG data shows that the total power generated by thermal power plants – mainly coal – has dropped 4% compared to a year earlier, and is now just below 7,000 terawatt-hours (TWh). The total output of clean energy from January to the end of June was 2,400 TWh. This shows that fossil fuels still make up 75% of China's electricity generation mix. The growth of clean energy continues to outpace the growth in fossil fuels, suggesting that China’s power mix is set to continue getting cleaner. According to LSEG, the total Chinese clean energy output in the first half 2025 will be 200% higher than the first half 2019. The total thermal power produced in China from January to June of 2025 is 20% higher than the same period last year. Emissions Toll China's emissions from the fossil fuel sector have decreased in line with a cleaner mix. According to data from the energy think tank Ember, total emissions from fossil fuels in electricity production between January and May were 2,24 billion metric tonnes of CO2. This is 60.5 millions tons less than in the same months of 2020, indicating that Beijing is making progress towards its goals to reduce energy sector pollution. The lingering economic drag from a property slump and the uncertainty over tariffs imposed by the United States against Chinese goods also impacts China's energy needs and emission totals. Construction in China has been slowing down sharply in the past decade due to a debt crisis affecting property developers. This has in turn slowed demand for energy-intensive products such as glass, construction steel, cement and piping. The latest tariffs imposed by U.S. president Donald Trump on Chinese products have impacted the demand for China-made goods and caused production lines to slow down across a variety of manufactured items. The overall energy needs of these industries have been reduced by the slower pace on construction sites and production lines in factories. This has allowed power generation companies to reduce their production. China's power requirements will rise if the manufacturing and construction sectors recover. This will lead to a return of fossil fuels that emit pollution. If China's economy is still slowed by the construction debt and the tariff concerns, then the use of fossil fuels could be further reduced, which would lead to further emissions reductions from the power sector. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and information. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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IATA: EU's purchase of green fuel from outside the region is not a good idea
Willie Walsh, Director-General of the International Air Transport Association (IATA), said that it is not logical for the European Union to buy sustainable aviation fuel from outside their region in order to meet its carbon emission targets. Walsh told a Singapore media roundtable on Wednesday that the idea of buying sustainable fuel, then transporting it across Europe to be used in Europe was not the best way to go. The transportation costs increase the carbon footprint. SAF can be used as a low carbon jet fuel replacement. Walsh stated that "mandating a product which is not available does not lead to any benefit for the environment and what we see in Europe are fuel companies who must produce the fuel," Walsh added. He added that some airlines use SAF in anticipation of costs. According to his assessment, these costs are way above the real cost of limited sustainable fuel supplies. At least five SAF-related projects outside China have begun production or are scheduled to begin this year. These projects will be exported to Europe and the rest of Asia. Singapore is now a major exporter of green fuels to the EU. Reporting by Jun Yuan Yong, writing by Trixie Yong and editing by Muralikumar Anantharaman & Sonali Paul
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IATA: Tariff uncertainty may cause airlines to delay aircraft deliveries.
Willie Walsh, Director General of the International Air Transport Association said that airlines may not be willing to accept aircraft deliveries due to ongoing uncertainty about U.S. Tariffs and the impact they have on the price of the planes. It's going to affect all aspects of the aerospace industry, not just Boeing and Airbus. He said that it would affect all aspects of aerospace and most, if no all, airlines. Walsh spoke at a Singapore media roundtable. Embraer's CEO, who warned Tuesday that the U.S. President Donald Trump will impose a 50% tariff on Brazilian exports beginning in August, could have a similar impact on the company's revenue as the COVID-19 pandemic. Francisco Gomes Neto, a reporter for Embraer, told reporters that the tariffs would be equivalent to a trade ban on regional jets Embraer supplies to U.S. Airlines. This could lead to order cancellations and deferred delivery and harsh consequences for Embraer’s U.S.-based suppliers.
Farmers criticize US renewable energy transmission project
U.S. Farmers on Tuesday attacked a project which received a loan guarantee of up to $4.9 billion from the former president Joe Biden's Administration to transmit electricity generated by wind and solar farms from the Midwest to urban areas.
Grain Belt express transmission project, backed by Invenergy, would send power from Kansas to Midwest and East cities. Invenergy claims that the second-longest line in U.S. History would serve as a "national energy security backbone", connecting four grid areas, including the PJM Interconnection (the largest U.S. Grid), which covers states ranging from Illinois to New Jersey.
The project may also help President Donald Trump achieve his "energy dominance" goal of increasing energy output. On May 9, the White House praised Invenergy's $1.7 billion investment in the project as part of a "list" of successes that boost the U.S. economic system and improve national security.
Garrett Hawkins of the Missouri Farm Bureau said that the project would violate the rights of farmers because it filed dozens of petitions for eminent-domain, or compulsory acquisitions, against state landowners.
Hawkins stated that the "single purpose" of the company was to profit from the farmers and landowners, who will have to house the infrastructure they need for many decades.
His comments followed Senator Josh Hawley's post on X, a Missouri Republican. Hawley said that he spoke with Trump and Energy Sec. Chris Wright and that Wright told him "he would be putting a halt to the Grain Belt Express scam."
Invenergy sent Wright a letter a day after saying that Hawley, and Missouri Attorney-General Andrew Bailey who had opened an investigation on the project, were declaring a "open season" for America's capability to build necessary energy infrastructure. Invenergy requested that Wright "put aside this unfounded noise and affirm a dedication" to the line.
Requests for comments were not immediately responded to by the White House or Department of Energy.
The project was in the works for over a decade, and received the conditional guarantee of loan from the Department of Energy’s Loan Program Office last November.
(source: Reuters)