Latest News
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Vietnam's real estate developer Vingroup ventures into aviation, space
According to a document filed in the business register, Pham Nhat Vuong has established a new company to manufacture planes and satellites. Vingroup is a real estate company that has many subsidiaries. These include the Nasdaq listed electric car maker VinFast, and newly established units for building a high-speed rail system worth $70 billion and producing steel required for civil works. According to the registration document, Vinspace Joint Stock Company was founded on Monday with an initial capital of 300 billion Dong ($11.4 millions). Vingroup has not yet commented on the new company. According to the document, Vuong owns 71% of Vinspace, Vingroup holds 19%, and Vuong’s two sons hold the remaining 10%. Vinspace's scope of business also includes air cargo transportation, telecommunication satellite operation and scientific research. Vuong is the richest person in Vietnam, according to the value of the publicly listed companies he owns. He has successfully launched many successful businesses under the Vingroup umbrella, including tourism, healthcare, and education. However, he has also pulled out of others, like smartphone production and plans to start an airline. Vietnam, a country that relies heavily on trade for its economic growth, is encouraging its domestic conglomerates expand. However it is facing uncertainty due to tariffs on exports to its biggest foreign market - the United States. Reporting by Phuong Vu, Francesco Guarascio, and Khanh Vu. Editing by Kate Mayberry.
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As the death toll in Philippines nears 200, Typhoon Kalmaegi rains and destroys Vietnam
State media reported one death in the coastal areas of Vietnam on Friday following the deadly passage of Typhoon Kalmaegi through the Philippines, where it killed 188 people. As it moved into the interior, the storm weakened. It uprooted trees, damaged homes and caused power outages. Authorities have warned that heavy rains of up to 800 millimetres (200 millimetres) are expected to continue in the central provinces of Thanh Hoa and Quang Tri. Officials in the Philippines said that 135 more people were missing, and 96 others had been injured as the death toll from the storm grew. Vietnam News Agency, the state-run news agency in Vietnam, reported that one person died in Dak Lak Province in a house collapse. Social media posts showed photos and videos of ripped off roofs, flooded houses, and streets littered by fallen trees and debris. The government announced that it had mobilized more than 268,000 soldiers to conduct search and rescue operations. It also warned against potential flooding in low-lying regions, which could impact agriculture in Central Highlands, Vietnam’s main coffee-growing area. Kalmaegi was the 13th typhoon that formed in the South China Sea during this year. Due to their location along the Pacific typhoon Belt, Vietnam and the Philippines suffer from tropical storms and typhoons. They also experience frequent damage and deaths during peak storm season. The Philippines civil aviation regulator has put all area centers and operations at airports on high alert as it prepares for another typhoon expected to hit parts of the Philippines this weekend. Reporting by Phuong nghuyen in Hanoi and Karen Lema from Manila. Editing by John Mair.
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US Government Shutdown Continues as Senators Failed to Find a Way Out
Senate Democrats in the United States continued to resist an agreement to end the record-long shutdown of federal agencies on Thursday, despite Republican attempts to reverse layoffs and reopen closed agencies. Democrats held their second caucus closed-door meeting in just two days, on the 37th of the longest shutdown in U.S. History. The government shutdown has resulted in the furloughing of 750,000 federal workers, the forcing of thousands to work for free, and the cutting off of food assistance and Head Start subsides for millions of Americans including children. In the coming days, a new pressure point would be created as major U.S. Airports prepared for a 10% reduction in airline flights because air traffic controllers are not being paid. After 14 failed votes, the Senate will vote again on a short term funding measure on Friday. However, this time the Senate will do so with the understanding that in the coming days the bill will be amended to include bipartisan legislation reopening federal agencies and funding some programs for the entire year. John Thune, the South Dakota Senate majority leader, told reporters that he always hopes and expects to see enough Democrats for us to move forward. "We'll see. "They seem to be slowing walking or walking backwards this." The Republicans have a majority of 53 to 47, but they need 60 votes in order to reopen government. Thune needs at least eight Democrats who are willing to leave their party, as one Republican is opposed to the short-term funding. Only two Democrats, plus an independent member of their caucus, have so far been willing. Chuck Schumer, the New York Senate Democratic leader, described the meeting of his caucus as "a very productive and good meeting". Other speakers also expressed optimism. Some Democrats, however, were not so optimistic. "I don’t know how effective it was there," said Pennsylvania Senator John Fetterman. He is one of three Senate Democrats who voted for a bill that would reopen government on a short term basis. Republicans offered Democrats a way to reopen the government, which included a stopgap measure for funding and a full-year package of appropriations bills that would pay for agricultural programs, including food assistance, construction projects, veterans affairs, and the legislative branch. Possible Reversal of Layoffs In bipartisan discussions, Republicans also showed an openness towards reversing the massive layoffs of federal workers ordered by President Donald Trump’s White House as well as protecting federal jobs against future cuts. "The discussion started as a healthcare conversation, but in recent days it has also evolved into a discussion of what I have called the moratorium on mischief," Democratic senator Tim Kaine from Virginia told reporters. Before reopening government, Democrats insist that Republicans negotiate an extension of federal health subsidies. Republicans insist that the government has to reopen before reopening. "We need to ensure that the deal we reach can be supported by both sides," said Democratic Michigan Senator Gary Peters, who was involved in bipartisan discussions. The deal has been discussed in many ways. "Nothing's really been crystallized." Uncertainty about the move of a house Thune offered Democrats a Senate Floor vote as an incentive for reopening government. This would extend federal tax credits expiring that help lower income Americans pay private health insurance. There was no such guarantee in the Republican-controlled House of Representatives . House Speaker Mike Johnson, of Louisiana, told reporters: "I am not a part of the negotiations." "I don't promise anything to anyone." Peters responded, "That is a serious problem." Democrats have repeatedly urged Trump to start negotiations on healthcare. Republicans, however, say that this should only happen after the government has reopened. Thom Tillis, a Republican senator, said that the White House would intervene to ensure a vote in the House on ACA tax credit legislation if the Senate passes it. Tillis of North Carolina said, "That's an important task that the White House should take on." "They can at the very least signal that we will allow voting if all of you get out of here." Even if Senate Democrats and Republicans were able to reach an agreement to reopen government this week agencies would likely be closed for several days. Before Trump could sign such a measure into law, it would need to be approved by the House. House Republican leaders have promised to give 48-hour notice to members before they are called back to Washington, and 72-hours to review the legislation before any votes. (Reporting and editing by Scott Malone, Diane Craft and Scott Malone)
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Qantas lowers its first-half forecast for domestic revenue, citing weaker travel demand
Qantas Airways, Australia's national airline, cut its forecast of domestic unit revenue for the first six months of 2026, and noted a slight increase in fuel prices. The airline cited a softening corporate travel market, higher refining margins, and increased carbon compliance fees. Qantas now expects an increase in domestic unit revenue of approximately 3% for the first six months, down from its previous forecast range of between 3% and 5%. The flag carrier of Australia said that travel demand in the mining and resource sector was still strong, but corporate travel grew at a slower rate than expected. The company has flagged that the group capacity for the first six months of 2026 will be "slightly less than previously guided" due to the delays in the return of the A380 fleet to service. In a separate press release, CEO Vanessa Hudson stated that "we are adjusting our domestic capacity to match the profile of demand we are currently seeing." Qantas has said that it is closely monitoring the ongoing U.S. Government shutdown and working with its partners to support any affected customers. However, no material impact on the demand for Qantas products or services has yet been observed. Fuel costs are forecast to be A$2.62 ($1.70) billion for the first half, up from A$2.6 billion in previous outlooks. This is due to higher jet refining margins as a result of ongoing geopolitical instability. The revised figure includes A$25m in non-cash carbon cost increases tied to increased compliance obligations under CORSIA. ($1 = 1.5389 Australian dollars) (Reporting by Roushni Nair in Bengaluru; Editing by Alan Barona)
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NTSB to probe UPS plane maintenance history
Safety investigators in the United States said Thursday that they are investigating the maintenance history for a UPS cargo aircraft which was in Texas weeks before it crashed in flames on Tuesday in Louisville, Kentucky. At least 13 people were killed. National Transportation Safety Board said that as the MD-11's left wing rolled down the runway at Louisville Airport, a large plume of smoke erupted and one of three engines detach from this wing. Flight tracking data shows that the plane was parked in San Antonio, Texas from September 3 until October 18. Todd Inman, a member of the NTSB, told reporters Thursday that he was aware that the aircraft had been in San Antonio. He did not give a timeframe. "We will examine every maintenance item, from San Antonio time to the date of flight," Inman said. ST Engineering of Singapore, which claims to provide airframe maintenance to UPS's MD-11 aircraft, and to operate a repair facility at San Antonio, has declined to comment, but stated that it will fully cooperate with the relevant authorities if they contact it. Federal Aviation Administration records from September 18 indicate that a crack in a structural part inside the fuel tank on the center wing needed to be repaired. UPS sent all inquiries to the NTSB as per standard procedure in air crash investigations. On Thursday, the cargo giant named the pilots who operated the flight as Captain Richard Wartenberg First Officer Lee Truitt and International Relief Officer Capt. Dana Diamond. The crash killed all three. There is no evidence to suggest that the crash of a freighter headed for Honolulu was caused by poor maintenance. The plane crashed into a number structures outside the airport grounds, killing at least 10 on the ground. A crash in the air is usually caused by a number of factors. The preliminary report should be expected within 30 days. The NTSB reported that the two "black boxes" of the plane, the cockpit voice recorder (CVR) and flight data recorder (FDR), had been successfully downloaded and a transcription of the cockpit conversation is being prepared. Inman stated that the NTSB has no immediate concerns regarding the MD-11 program as a whole, which Boeing owns since the 1997 merger between McDonnell Douglas and Boeing. FedEx and UPS operate about 50 MD-11 cargo planes worldwide. On Thursday night, Louisville Mayor Craig Greenberg announced on the social media site X that there were now 13 deaths. He told reporters earlier in the day that investigators were still searching the wreckage for clues, and possibly victims. Greenberg stated that there was so much charred metal and mangled metal, it is possible that the bodies have not been found. (Reporting and editing by Jamie Freed in Montreal, Allison Lampert)
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NTSB to probe UPS plane maintenance history
Safety investigators in the United States said Thursday that they are investigating the maintenance history for a UPS cargo aircraft which was in Texas weeks before it crashed in flames on Tuesday in Louisville, Kentucky. At least 12 people were killed. National Transportation Safety Board said that as the MD-11's left wing rolled down the runway at Louisville Airport, a large plume of smoke erupted and one of three engines detach from this wing. Flight tracking data shows that the plane was parked in San Antonio, Texas from September 3 until October 18. Todd Inman, a member of the NTSB, told reporters Thursday that he was aware that this aircraft had been in San Antonio. He did not give a timeframe. "We will examine every maintenance item, from San Antonio time to the flight date." ST Engineering of Singapore, which claims to provide airframe maintenance to UPS's MD-11 aircraft, and to operate a repair facility at San Antonio, has declined to comment, but stated that it will fully cooperate with the relevant authorities if they contact it. Federal Aviation Administration records from September 18 indicate that a crack in a structural part inside the fuel tank on the center wing needed to be repaired. UPS sent all inquiries to the NTSB as per standard procedure in air crash investigations. On Thursday, the cargo giant named the pilots who operated the flight as Captain Richard Wartenberg First Officer Lee Truitt and International Relief Officer Capt. Dana Diamond. The crash killed all three. There is no evidence to suggest that the crash of a freighter headed for Honolulu was caused by poor maintenance. The plane crashed into a number structures outside the airport grounds, killing at least nine on the ground. A crash in the air is usually caused by a number of factors. The preliminary report should be expected within 30 days. The NTSB reported that the two "black boxes" of the plane, the cockpit voice recorder (CVR) and flight data recorder (FDR), had been successfully downloaded and a transcription of the cockpit conversation is being prepared. Inman stated that the NTSB has no immediate concerns regarding the MD-11 program as a whole, which Boeing owns since the 1997 merger between McDonnell Douglas and Boeing. FedEx and UPS operate about 50 MD-11 cargo planes worldwide. In an earlier press conference, Louisville Mayor Craig Greenberg informed reporters that investigators were still combing through the wreckage of the crash to look for clues or possible victims. Nine people have been reported missing in addition to those who are dead. Greenberg stated that there was so much charred metal and mangled metal, it is possible that the bodies have not been found. (Reporting and editing by Jamie Freed in Montreal, Allison Lampert)
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Trump administration announces Boeing deals in Central Asia
The U.S. administration of President Donald Trump announced new deals on Thursday to sell Boeing aircraft to airlines in Central Asian countries Kazakhstan, Tajikistan, and Uzbekistan. The Commerce Department announced that Kazakhstan flag carrier Air Astana intends to purchase up to 15 Boeing 787 Dreamliners in order to modernize and expand its fleet. The C5+1 Summit, which took place in Washington to mark the 10th anniversary diplomatic meeting between the leaders of the five Central Asian Republics and the United States, signed the orders. Air Astana operates three Boeing 767 widebody aircraft that connect Kazakhstan to destinations in Europe, Asia, and the Middle East. Boeing says the new planes allow for expansion into North America. Commerce reported that Tajikistan’s national airline Somon Air intends to purchase up to 14 Boeing aircraft, including four 787s as well as 10 737 MAX planes. Uzbekistan Airways also plans to purchase eight additional 787 aircraft. Trade deals and negotiations between Trump and foreign governments have emphasized the importance of new Boeing planes made in the United States. As part of the trade agreements announced this year, Boeing won orders for hundreds new aircraft. China is one of the big orders that has not been finalized. Boeing has been reported to be in discussions to sell up to 500 jets in China. This would represent a significant breakthrough for the company, as orders in this market have stalled due to the U.S. China trade tensions. Reporting by David Shepardson, Daphne Psaledakis and Trevor Hunnicutt. Editing by Lisa Shumaker.
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Brussels airport temporarily suspended operations due to drone sighting
A spokesperson for Skeyes, the air traffic control company, said that operations at Belgium's Brussels Airport had temporarily been halted due to drone sightings on Thursday. The spokesperson did not specify how many drones were sighted. Local media reported that drones were also spotted in other parts, including at a military facility. On Thursday morning, the Belgian government called an urgent meeting of its key ministers and chiefs of security after drone sightings on Tuesday night forced the closure of two airports and one military airbase in what was described by the defence minister as a coordinated attack. Germany has announced that the Bundeswehr will supply Belgium with Short-notice Support in counter-drone capabilities. In recent months, drones have caused significant disruptions throughout Europe. They forced the temporary closure of airports in many countries. Some officials blamed the incidents upon "hybrid war" by Russia. Moscow denies any involvement in the incidents. (Reporting and editing by Chris Reese, Bart Meijer, Charlotte Van Campenhout)
Trump Administration seeks to negotiate on shipping with China as it pauses the port fees
The Trump Administration said on Thursday that it would continue negotiations with China about its dominance in shipbuilding and ocean logistic as it formalized its plans for a year-long pause on U.S. Port Fees on China-linked ships as part of an broader agreement to reduce trade tensions.
In a Federal Register announcement, the U.S. Trade Representative announced that all punitive measures against China resulting in its "Section 301", unfair trade practices investigation would be halted for a period of one year beginning November 10. USTR also said that it would be accepting public comments about the matter between November 6 and 7.
Donald Trump, the U.S. president and Xi Jinping, the Chinese president, reached an agreement in South Korea in late October that included a 12-month reprieve from estimated U.S. fees of $3.2 billion per year for large Chinese vessels sailing into U.S. port. Tariffs of 100% on container intermodal trucks and ship-to shore cranes were also paused.
USTR stated in its notice that "under this agreement, the United States will suspend for a year, starting on November 10, 2025 the actions taken to respond to this investigation," The United States would also negotiate with China under Section 301 in regards to the issues raised by this investigation.
The notice did not give any details on how or what the goals of the negotiations will be. The notice stated that the U.S. will continue to make its own efforts in order to revitalize shipbuilding at home, including by engaging with allies and key partners.
No USTR spokesperson was available for comment. The Chinese embassy in Washington did not respond immediately to a question.
As part of the Trump-Xi agreement to deescalate, China has also agreed to halt its own retaliatory charges on U.S. linked ships. Hawaii-based ocean transportation company Matson announced on Tuesday that they had paid China $6.4 million since October 14 in port fees.
Analysts estimate that the Chinese state-owned container company COSCO could be exposed to up to $1.5 billion in port fees annually. (Reporting and editing by Jamie Freed; Additional reporting by Lisa Baertlein, Lisa Baertlein).
(source: Reuters)