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Sources: CEO of Germany's state railway operator will leave his post
Richard Lutz will be leaving the CEO position of Germany's largest rail operator Deutsche Bahn. Sources from government and company said this on Thursday. The state-owned operator has been plagued by delays and disruptions due to a decade-long underinvestment in the face of tight budgets. Lutz, the new CEO of Deutsche Bahn who took over in March 2017, said there was still much to do to bring the company out of its crisis. The company refused to comment on the reported departure of his employee. Last year, large public events such as the Euro Soccer Tournament and Taylor Swift’s Tour in Germany brought Deutsche Bahn to the forefront of international attention for its crowded and delayed trains. The company is upgrading its overhead lines and tracks. However, the initial delays and cancellations will be caused by this process. In March, Deutsche Bahn announced heavy losses for the year 2024. However, it said that cost reductions and infrastructure investments would allow them to achieve an operating profit this year. (Reporting and writing by Klaus Lauer, Markus Wacket; editing by Thomas Seythal).
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Ryanair confirms that summer bookings are strong and fares are holding steady
Michael O'Leary, the Chief Executive Officer of Ryanair, said that in an interview with The Telegraph on Thursday he is "reasonably confident" that it will meet its summer target. The airline's growth has been slowed by delays, and he praised Boeing for agreeing that some jets would be delivered earlier than planned. Bookings are strong during the summer peak months... "The fares are holding," O'Leary said. Bookings were 1% higher than they were last year at this point. He reiterated a July forecast that the average fare was likely to increase by close to 7 percent, depending on the close-in bookings of the remaining second quarter for the airline, which ends September 30. He added that there was no evidence of consumers altering their plans because of the heatwaves in this summer. Boeing has agreed to deliver 7 jets in August, and 7 in September ahead of a previously-agreed timetable. O'Leary spoke in Tirana where he announced the doubling of the capacity of the airport to 4 million passengers annually and the basing three aircraft there from April next year.
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Corporate earnings are mixed as most Gulf shares increase on Fed rate reduction hopes
The Gulf stock markets were mostly higher on Thursday morning, as global stocks rose, after positive U.S. inflation figures raised hopes for a Federal Reserve rate reduction, and mixed earnings reports from the region. After data released this week revealed that U.S. consumer inflation rose at a moderate rate in July, traders expect the Fed will cut rates. The U.S. monetary policy changes have a major impact on Gulf markets where the majority of currencies are pegged with the dollar. Qatar's benchmark index gained 0.8% with nearly all components advancing. Qatar National Bank gained 1.7%, while Qatar Islamic Bank rose 1.2%. Dubai's benchmark index rose 0.4% on the back of gains in the real estate, finance, industry and utilities sectors. Emaar Properties, a blue-chip developer, rose 1%. Salik, a toll operator, advanced 3.8%. Salik reported a 49.6% rise in its second-quarter net profits on Wednesday. This was a significant increase, surpassing estimates. Air Arabia's share price fell 0.8%, as the low-cost airline reported a 10% decline in its second quarter net profit. Saudi Arabia's benchmark index of stocks rose 0.1% thanks to gains in consumer staples and finance. Saudi industrial investment rose by 4.4%, and Saudi National Bank, which is the largest lender in the Kingdom according to assets, gained 0.9%. Saudi Printing and Packaging's shares soared by 8.4% following the announcement that it had signed a financing deal with Saudi Research and Media Group. The benchmark Abu Dhabi index traded within a narrow range, as gains in real estate, technology and industrial stocks were offset by losses in consumer staples and energy shares. RAK Properties rose 1.3% following the announcement of a 95% increase in net profit for the second quarter. Investcorp Capital fell 1.3% on Thursday after it reported a 22% decline in its full-year profit.
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Hapag-Lloyd reduces its 2025 earnings projection after half-year profits slip
Hapag-Lloyd, the container shipping company, reported on Thursday a decline of 3.1% in its first-half earnings and reduced the upper end of their full-year forecast. This was mainly due to geopolitical concerns and U.S. Trade Policy. The fifth-largest shipper in the world projected earnings for full-year before interest and tax between 200 million and 1.1 billion euro, as opposed to a range previously expected of breakeven up to 1.5 billion euro. The German company stated that frequent changes in U.S. Tariff Policies have led to volatility in trade patterns. In addition, the security situation at the Red Sea is also a burden. This has resulted in a 24% decrease in EBIT of 619 million Euros in six months. Houthi militants attacks on Middle Eastern ships have clouded global shipping outlook. Vessel owners are forced to sail an expensive alternative route around Africa. The net income for the first half of 2009 fell by 3.1%, to 709 millions euros ($829million). The CEO Rolf Habben Jansen praised the "solid overall note" after the company's revenues increased by 10% to 9.7 billion euro and its transport volumes rose 10.6% to 6.8 million 20-foot equivalent (TEU) container. He said that the company's operation collaboration with Maersk, known as Gemini, got off to a great start but costs had to be optimized. Germini is a global network of 340 vessels operating on seven trade routes.
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India's JSW Cement makes a 4% gain in its debut, with a valuation of $2.38 billion
JSW Cement shares debuted at 4% higher than their previous price on Thursday, valuing it at $2.38 Billion. Investors looked past the broader market turmoil to support the company's expansion plans for capacity and its push into new markets. The stock was listed on the National Stock Exchange at 153.50 Rupees, just over its target of $2.3 billion and above its original issue price of 147 Rupees. As of 10:21 am IST, it was up 2.7% to 151.06 rupies. India is the second largest cement producer in the world. The government's push for infrastructure and housing will drive demand growth over the next decade. Prices are also expected to rebound from the multi-year lows they hit during the last fiscal year. JSW Cement is a smaller player than other companies in the industry, such as Aditya Birla's UltraTech Cement or Gautam Adani's Ambuja Cement. In its prospectus, the company stated that it would use the proceeds of the IPO to build a factory in Rajasthan, a state rich in limestone. Ventura Securities stated that JSW Cement’s capacity ramp-up would expand its reach, boost profits and offer brand strength. Its ties to JSW Group also provide easy access to raw material like slag, power and steel via group companies such as energy, marine infrastructure and steel. JSW Group owns a stake of nearly 70% in the cement manufacturer. This week, the $413 million initial offering was nearly eight times oversubscribed. Institutional investors' bids were almost 16 times higher than their quota.
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Maguire: Key US Natural Gas Trends to Track as LNG Exports Hit New Highs
The U.S. has seen its exports of LNG reach new heights this year. They are up over 20% compared to the same period in 2024, cementing the U.S. as the largest supplier of super-chilled fuel. The demand for U.S. Natural Gas has also reached record highs in the commercial and industrial sector, helping to boost total U.S. Gas consumption by the biggest gas consumers by 5% compared to the previous year to new highs. All major gas consumers are also seeing a significant increase in prices since 2024. However, they remain below the previous records set around 2022-2023. Here is a summary of key trends and data for the U.S. Natural Gas Market so far in this year, and what to expect going forward. BONANZA FOR LNG EXPORT According to Kpler, the commodities intelligence firm, U.S. LNG exported in the first eight months of 2025 increased by 22%, or 12.4 million tonnes, from the same period in 2024, to reach a record high of 69 million tones. Europe was the second largest market for U.S. LNG exports, followed by Asia. The Netherlands, France, and Spain were the top three markets, accounting for 28% of all U.S. LNG exports so far in this year. Since 2022, the Russian invasion of Ukraine led to sanctions against Moscow and disrupted commodity flows into Europe. The decline in wind and hydro electricity generation in Europe this year has also contributed to the increase in gas consumption. Several European nations have increased imports of U.S. Liquefied Natural Gas in an effort to reduce their trade deficits with America once President Donald Trump returns to office. The total imports of U.S. LNG by Europe from January to August 2024 are up 61%. Gas rationing has been implemented in Asia, where the price of U.S. LNG has dropped by 35% in comparison to last year. Kpler data show that the U.S. has seen its share of global LNG exports rise to a record 24,5% this year. In 2024 it was only 21%. RISE IN PRICES According to the U.S. Energy Information Administration, the average price of U.S. LNG exported in the first five months 2025 was $8.34 per 1,000 cubic feet. This price is 38% higher than the average LNG price in the same period in 2024. The price of domestic gas is expected to rise dramatically in 2025 for most major consumers. Prices for electric power generators, the biggest gas consumers in the U.S. (representing around 31% of the total gas consumption), increased by 52% between January and May 2024 compared to the same period in the previous year. Residential users (19% gas use), and commercial users (12%) saw their prices rise by 6% and 8 % respectively. Gas prices in the United States are 27% higher than they were in 2007. The average price per 1,000 cubic feet was $8.81. Usage Trends Gas prices are driving a shift in the way Americans use gas. While gas consumption has reached a record high for all major segments of gas usage, it is still a relatively low level. During January to May, the key electric power segment achieved its first reduction in gas consumption year-over-year since 2021. EIA data show that the 4,704 billion cubic foot of gas consumed by electric power companies was 4% lower than in 2024. This was due to higher production at cheaper coal plants, as well as higher supplies of renewable energy. The gas consumption of all other major gas users increased this year compared to the previous year, but in a wide range of degrees. Commercial users increased consumption by 11%, while industrial users increased consumption by 1.5%. Residential gas users - who use gas primarily for heating – increased their use by 11.4% compared to the previous year, but the trend in residential use of gas remains downwards as more homes improve energy efficiency and install heat pump that run on electric. A FORWARD GUIDANCE The U.S. market will continue to be a major driver of the gas price and sentiment in the U.S. EIA data show that between 2019 and 2024, the gas demand for LNG exported rose by 140%. This growth rate is compared with a 20% increase in the demand for gas from the industry sector, and a 2% increase in gas consumption by residences. EIA data show that the total gas demand of LNG exporters in 2021 was greater than that consumed by commercial users and nearly equaled that consumed by residential customers in 2024. The LNG export sector is expected to be the third largest gas consumer in the United States after electric power and industries this year. Even if the demand for gas in offices and homes continues its decline, the strength of U.S. exports could set the tone for U.S. gas prices. 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 analysis. 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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Southern China courts, schools and schools are affected by Tropical Storm Podul
Tropical Storm Podul, which hit Taiwan on Wednesday and left 143 injured, poured torrential rainfall on southern China on Thursday. Hong Kong hospitals, schools, and courts were also affected. Jimmy Lai's hearing was cancelled when the authorities issued their "black" warning for rainstorms, and supporters queued outside under umbrellas. The medical authorities announced that all outpatient clinics will remain closed until the rain has stopped. Flightmaster data showed that airports in the region experienced cancellation rates around 20% as Podul pounded parts of China's provinces of Guangdong and Hunan with over 70 mm (2.76 inch) of rain per hour. Analysts warn that extreme weather events are increasingly a threat to the growth of the second largest economy in the world. China has experienced record rains in the north and south, as well as heatwaves that have lasted for weeks in its interior. The government announced on Thursday 430 million yuan (59.9 millions) in new funding for disaster relief. This brings the total amount allocated since April up to at least 5,8 billion yuan. Chim Lee is a senior analyst with the Economist Intelligence Unit. He said that authorities need to be prepared. There's increasing evidence that tropical cyclones are becoming more intense and moving slower. China's south coast is ripe for all sorts of economic disruptions. The majority of institutions in the area are well-prepared, but it seems that cyclones are intensifying in a more northerly direction. These places should keep a closer eye on things." Podul, a weakened tropical storm that had weakened from a typhoon after pounding Taiwan with winds up to 191 kph 118 mph on Wednesday left one person dead and scores of others injured, made landfall at 0030 local time (1630 GMT on Wednesday). Its residual vortex is threatening to cause havoc in the south of China, which was still reeling last week from the heaviest rainfall in decades. The vortex moves north at speeds between 30-35 km/h (19-22 mph). Seven people died in Guangdong after a record rainfall of 622.6mm (24.5") fell from August 2-6. This is almost three times more than the average for August. Last Tuesday, Hong Kong experienced the heaviest rainfall in August since 1884. State media reported that authorities in Guangdong’s Meizhou shut down all highways due to heavy rains. The high-speed rail linking Shenzhen with Hangzhou, in eastern Zhejiang Province, about 1,200 km (745 mi) away, has also been suspended. $1 = 7.1705 Chinese Yuan Renminbi (Reporting from Beijing by Joe Cash, Jessie Pang and Ben Blanchard; Editing done by Michael Perry and Lincoln Feast)
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India's JSW Cement makes a 4% gain in its debut, with a valuation of $2.38 billion
JSW Cement shares debuted at a 4% premium on Thursday, valuing it at $2.38bn. Investors looked past the broader market turmoil to support the company's expansion plans for capacity and its push into new markets. The stock was listed on the National Stock Exchange at 153.50 Rupees, just over its target of $2.3 billion and above its original issue price of 147 Rupees. As of 10:21 am IST, it was up 2.7% to 151.06 rupies. India is the second largest cement producer in the world. The government's push for infrastructure and housing will drive demand growth over the next decade. Prices are also expected to rebound from the multi-year lows they hit during the last fiscal year. JSW Cement is a smaller player than other companies in the industry, such as Aditya Birla's UltraTech Cement or Gautam Adani's Ambuja Cement. In its prospectus, the company stated that it would use the proceeds of the IPO to build a factory in Rajasthan, a state rich in limestone. Ventura Securities stated that JSW Cement’s capacity ramp-up would expand its reach, boost profits and offer brand strength. Its ties to JSW Group also provide easy access to raw material like slag, power and steel via group companies such as energy, marine infrastructure and steel. JSW Group owns a stake of nearly 70% in the cement manufacturer. This week, the $413 million initial offering was nearly eight times oversubscribed. Institutional investors' bids were almost 16 times higher than their quota.
Freeport LNG Export Plant in Texas is on track to resume full power by Thursday, LSEG data indicates
Freeport LNG, a U.S. liquefied gas company in Texas, was on course to receive more natural gas in Texas on Thursday. This is a sign that on Wednesday one of the company's liquefaction train exited a temporary outage.
Freeport LNG is closely monitored by the global market because its operation can cause large price fluctuations.
Gas prices in the U.S. typically drop when flows to Freeport decrease due to a lower demand for fuel from the export facility. Prices in Europe are usually higher due to the drop in LNG supply available from the plant to global markets.
Freeport is not the only reason why prices in Europe and America have been down.
Freeport informed Texas environmental regulators on August 13, that Train 2 of the three liquefaction train at its plant had shut down due to an issue with a system compressor.
Freeport officials were not available to comment immediately.
LSEG reported that the amount of gas flowing into Freeport is on track to increase to 2.0 billion cubic feet (bcfd), up from 1.6 bcfd Wednesday. This compares to an average of 1.9 billion cubic feet per day over the previous seven days.
Three liquefaction plants at Freeport can convert about 2.1 billion cubic feet per day of gas to LNG.
A billion cubic feet of natural gas can supply 5 million U.S. households for one day. (Reporting and editing by Joe Bavier, Chizu Nomiyama, and Scott DiSavino)
(source: Reuters)