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What are the balloons used to smuggle that have caused air traffic disruption in Lithuania?
Belarus, an ally of the Kremlin, has been accused by authorities of launching a hybrid attack on Lithuania, forcing the airport to shut down multiple times. Since October, the airport, which is only 30 km from Belarus, has been closed over a dozen different times. This has disrupted hundreds of flights, and affected thousands of passengers. Lithuania declared an emergency on Tuesday to highlight the escalating tensions with Belarus. What is known about these balloons? What are they? High-altitude balloons filled with hydrogen or helium can fly wherever the wind takes, but their altitude is controlled remotely by the ground. Meteorologists use them to measure stratospheric temperatures starting at 15 km (9.3 mi) above the ground. They have now been repurposed for smuggling cheap Belarusian cigarettes to Lithuania. After tighter border controls during the 2021 migrant crises, this practice has increased. In 2024, several hundred balloons were recorded. The balloons pass over the border at a height of 3-4 km. Smugglers can communicate with the balloon in Lithuania to track its position and direct it towards a?land. A balloon can carry 500 to 1,500 cigarettes. Each pack costs less than one euro, while in Lithuania, the same brand of cigarettes would cost 4.5 euros. HOW DO THEY LOOK LIKE? Photos of border?guards show teardrop-shaped, thin balloons made from semi-transparent, or white latex. They are tethered with a rectangular crate that is likely to contain contraband and a GPS tracking device. Lithuanian media reports they measure about three metres once inflated. Why are the balloons a problem? Authorities claim that the balloons are flying at the same height as airliners as they approach an airport. This increases the risk of collisions. Recently, local rules have been updated to include balloons as a mid-air threat. The Lithuanian authorities have improved their detection systems, and are now better able to identify if the flight paths of any identified ballons pose a danger to civil aviation. According to the interior ministry, since October, Vilnius Airport was?closed' for more than 60 hrs due to the threat of smuggling helium balloons. This has affected more than 350 flights, and around 51,000 passengers. What happens to the cigarettes? Lithuania claims that smuggled cigarettes manufactured in Belarus are mainly consumed in Lithuania. In 2024, the Lithuanian Border Guard confiscated over 1.4 million illicit cigarette packs. Of these, 1.2 million were marked to be sold in Belarus. WHAT IS THE BELARUS POSITION? Belarusian president Alexander Lukashenko claims that Lithuania exaggerates incidents involving smugglers balloons, but Minsk doesn't want to start a war. He called Lithuania's previous closure of the border which lasted for several weeks a "crazy fraud" and accused the West of waging a war hybrid against Belarus and Russia. Belarus, who allowed its territory be used to support Russia's invasion in Ukraine 2022, accused Lithuania of using a drone?to spy on them and drop "extremist materials". Vilnius rejects this accusation. WHY ARE THE BALLOONS NOT SHOT DOWN? Initially, the Lithuanian government claimed that they had not been shot down due to their heavy payloads posing a danger to property or lives. Lithuania's chief defence officer said that although the government has authorized the use of "kinetic" measures, the army still had not found a cost-effective way to detect and deflate balloons. (Reporting from Andrius Sytas, Vilnius; Editing by Mark Heinrich and Ros Russel)
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Bangladesh has issued a new tender for the purchase of 50,000 tons rice, traders claim
European traders reported on Tuesday that Bangladesh's state grain buyer had issued a?another? international tender for the purchase of?50,000 metric tonnes of?rice. The deadline for price quotes is December 22. Bangladesh has announced a series of?rice tenders? to increase local supplies?in response?to rising domestic rice prices. Bangladesh has also issued a separate tender for 50,000 tonnes of rice. Price offers are due on December 15. Offers in another Bangladeshi rice tender, also for 50,000 tonnes, were also made on Tuesday. The new tender seeks to solicit price offers for nonbasmati parboiled?rice in CIF?liner?out terms which include ship unloading?costs for the seller. Prices must be valid until January 5. The contract stipulates that the rice should be shipped to Chittagong or Mongla within 40 days of award. Rice can be imported from anywhere in the world except Israel. Reporting by Michael Hogan, Hamburg Editing by David Goodman
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Ryanair cuts winter Brussels schedule due to Belgium ticket tax increase
Ryanair announced on Tuesday that it would reduce?1million?seats from its winter schedule in Brussels for 2026/27 due to Belgium's decision of increasing tax on air passenger tickets by 10 euros ($11.64). The tax hike in Belgium comes at a time when Germany has reversed its own levy on aviation after airlines, including Ryanair and EasyJet reduced their capacity. "Ryanair again calls on Prime Minister (Bart De Wever) and his govt to abolish the aviation tax, or Belgian traffic and fares would soar," said the airline in a press release. The Irish low cost airline announced that it would also'remove five planes from its Brussels Charleroi Airport, representing a $500 million investment loss, and axe twenty routes across its Belgian operations. Jason McGuinness, Chief Commercial Officer at Ryanair, stated that Charleroi's proposal of adding another 3 euros to the departure fee for passengers from next year could trigger further cuts in April 2026, putting thousands of jobs on the line.
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Grid operator: French electricity supply is outpacing demand, but electrification lags
Grid operator RTE announced on Tuesday that France is experiencing an electricity shortage due to a decline in industrial production and a rise in renewable and nuclear energy. They called for a European-level response to increase electrification. After a spike in the price of power during the energy crisis of 2022, which forced traditional industries to close factories and reduce their electricity consumption, prices have now fallen?to?their?lowest since mid-2018. RTE stated that the growth of electricity demand had been slower than the scenario set out in 2023, as a weaker economy has led to a lower power demand when compared with the average before COVID and slowed electrification. In a recent report, RTE stated that in order to overcome this overcapacity decarbonisation and electricification projects such as the electric vehicle rollout and hydrogen production must be implemented faster. This will require European-level action. RTE reported that the supply-demand imbalance in 2024 led to record 'power exports.' France is on track to surpass this record in 2025, after achieving 82 terawatts hours of exports in November. This is just 7 TWh shy of last year’s total, with one month left. RTE stated that overcapacity would require more modulation capability - the ability of reducing power supply during periods of low demand. If power is reduced over longer periods, power producers such as nuclear operator EDF will see their profits fall. They may also have to delay maintenance during the less profitable months. The report stated that RTE has signed and contracted?30 gigawatt-hours of grid access rights for heavy industry including hydrogen, mobility, and?data centers, which could help mitigate some oversupply. RTE reported that France would likely see a higher demand growth and higher grid utilisation by the end decade compared to other countries. RTE said that (Reporting and editing by Jan Harvey; Forrest Crellin)
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Maguire: Texas solar power output surpasses coal in Texas
The largest electricity network in the U.S. will be able to produce more energy from solar farms in 2025 than it does from coal plants for the first time. According to LSEG data, the Electric Reliability Council of Texas generated 2.64 million megawatt-hours (MWh) of energy from solar assets compared to 2.44 million MWh of electricity from coal plants. Solar farms are expected to generate 150,000 MWh or more in December, even if solar generation drops in the last weeks of 2025 because of reduced daylight. In 2025, the U.S. climate watchers will be able to highlight the Texas solar output as compared with coal production. The coal output in the United States has risen sharply this year, and is still three times higher than solar energy. The rapid growth of solar energy in Texas, the main fossil fuel hub of the U.S., will act as a model for other states that are trying to increase output from all sources available to keep up with the rising demand for power. BANNER?YEAR LSEG data show that the solar power production in Texas has risen by 42% this year compared to a year ago, thanks to a 24% increase in installed solar capacity this year. ERCOT's solar production is averaging a 44% increase from 2024, and has been setting new records each month in 2025. If the solar output for December is also up by 44% from last year, then this year's output would be around 185,000 MWh. This would bring the total solar production to 2.82 millions MWh. COAL GROWTH LSEG data show that Texas'?solar generation outperformed coal in the same month of 2024. In Texas and throughout the United States, utilities have tried to increase output this year from all sources to meet a higher energy demand. This is due to an increased use of artificial intelligence and a greater use of electricity. The steep rise in the price of natural gas has also led to widespread gas-fired plant closures in Texas and other states. According to LSEG, ERCOT's gas-fired electricity supplies are down by about 4% compared to a year ago. They have reached 7.74 million MWh this year. Gas prices in the U.S. are currently around 50% higher than the average for 2024. Additional cuts to the gas-fired production can be expected where coal-fired power plants are available to cover the difference. This means that coal-fired production in Texas, the nation's largest coal power producer, can be expected to rise?further in 2026. The state will also have a successful finish in coal production. CLEAR CLEAN MOMENTUM 2025, despite a recent increase in coal-fired power generation at the same time that solar production is falling to "annual lows", will be a crucial year for solar energy in Texas. Solar farms accounted from January to November for a record share of ERCOT's generation mix. This compares with a share of 13% for coal plants in the state. The?solar share in Texas this year is compared to a mere 6% in the same months of 2022. This shows the rapid and massive rollout of solar assets in Texas over the past few years. Texas utilities are also the most aggressive in the nation when it comes to deploying utility-scale batteries storage systems. These allow surplus solar energy that is generated at the peak of the day, during the daytime, to be stored and discharged during peak demand periods. The combination of battery and solar power remains the fastest and most popular way for utilities to increase their energy supplies. This means that Texas' solar park will continue to expand in the years to come. 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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IATA: Global airlines to record record net profit of $41 billion next year
IATA, the global airlines trade association, said on Tuesday that the airline industry would record record profits in 2019 despite supply chain issues causing delays and slower deliveries of aircraft. Airbus, the plane manufacturer, has cut its 2025 plane delivery target due to a quality problem with certain metal panels used on its A320 aircraft. In recent years, the world's two largest jetmakers Airbus (Airbus) and Boeing (Boeing) have both experienced delivery delays to their airline customers. Airlines say that they can't reduce fuel costs while increasing the number of passengers without newer, more efficient aircraft. IATA is optimistic about the year ahead. Willie Walsh, director general of the International Air Transport Association said in a press release that airlines have "successfully" built shock-absorbing resistance into their business. This resilience is helping to deliver stable profitability. LESS CONFIDENCE IN THE AIRBUS Walsh stated that Airbus' performance has improved while Boeing has seen a decline in confidence. This is due to ongoing supply chain problems. The European planemaker was forced to halt production earlier this month. Reduce delivery targets When defects were discovered in some of the fuselage panels days after 6,000 A320 series planes had been recalled over a software bug linked to cosmic radiation. "I believe we're seeing a change where people are recognizing that Boeing's performance is significantly better. "People have more faith in Boeing to deliver on their commitments, and we see people have less confidence in Airbus," Walsh said. "It is disappointing for the industry because there will be fewer new planes being delivered than expected,"? he said. Airbus has cut its delivery target by 4%. It also confirmed that deliveries had already slowed down in November. This was just weeks after the A320 family, including the A321, the best-selling model, surpassed the troubled Boeing 737 MAX to become the most delivered passenger jet in the history of the industry. (Reporting and editing by Jan Harvey, Louise Heavens, and Joanna Plucinska)
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Airline warns green fuel goals are at risk as the supply is short
The 'International -Air Transport Association' said that the global airline industry will likely?miss their targets for using green jet fuel in the next few years. They blamed fuel producers and regulators. Sustainable aviation fuel, made from used or waste cooking oil and waste cooking oil, is a fuel that can reduce emissions significantly when compared to traditional jet fuel. It is still two to five time more expensive than conventional jet fuel. IATA anticipates that 2.4 million metric tonnes of SAF will be available by 2026. This represents just 0.8% the total fuel consumption. The wider aviation sector committed to achieve net-zero emission by 2050 in 2021, and heavily relied on a gradual shift to SAF. We're not seeing SAF produced at the volume we had hoped and expected. Willie Walsh, director general of the trade group, told journalists that this was disappointing. He warned earlier that the 2050 goal of net zero could be in danger. According to IATA, sustainable aviation fuel is only 0.3% of jet fuel used worldwide and will reach 0.7% in 2025. According to experts, the production of sustainable aviation fuel must?grow quickly in order for the sector to meet its emission goals. The airlines have said for years that they would buy all the SAF fuel available but blame jet fuel producers for artificially raising prices and not producing enough. Walsh explained that the problem is not one of cost, but rather of availability. They are unable to obtain the SAF they need to achieve their ambitions. He said that he expects many airlines to backtrack on their official sustainability commitments in 2026. Air New Zealand is leading the charge for setting more realistic expectations. LESS CONFIDENCE IN THE AIRBUS Walsh stated that despite ongoing supply chain problems, Boeing has shown improved performance. The European plane manufacturer was forced to halt production earlier this month. Reduce delivery targets Days after recalling 6,500 A320 series planes due to a software bug linked to cosmic radiation, defects were found in some of the fuselage panels. "I believe?we're seeing a change where people are recognizing that Boeing's performance is significantly better. "People have a lot more faith in Boeing to deliver on the promises they've made and we are seeing less confidence in Airbus," Walsh said. He added, "It is disappointing for the industry because there will be fewer new aircraft delivered than expected." Airbus has cut its delivery target by 4%. This comes after it confirmed that deliveries had slowed down in November. This was just weeks after the A320 family, including the A321, the best-selling model, surpassed the Boeing 737 MAX, which is currently experiencing problems, as the most delivered passenger jets in history. (Reporting and additional reporting by Olivia Le Poidevin, Geneva Editing Louise Heavens).
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South Africa issues first infrastructure bonds to raise $693 million
The National Treasury of South Africa announced on Tuesday that it had issued bonds for infrastructure and development finance, totaling 11.795 billion Rand ($692.74 millions) in 10-year and 15 year instruments. Treasury released a statement saying that bids exceeded 26 billion Rand, and the issue achieved a 2.2?times subscription. The government hopes that the projects funded through the bond sale, will help to drive higher economic growth as well as improve service delivery. The bonds are part of a larger plan to allocate more than 1 trillion rands over the next 3 years for public infrastructure in Africa's largest economy. Treasury raised 6.996 billion rand through the 10-year bond with an interest of 8.575% and 4.799 billion rand by way of the 15-year bonds at an interest of 9.13%. They could fund projects such as the renovation of 'the Tygerberg Hospital' in Cape Town and a major water pipe in Limpopo province. In a separate deal, South Africa raised $3.5 Billion last week by Issuing two new dollars bonds On international capital markets
Data shows that Freeport LNG Export Plant in Texas will take in more natgas following the closure of its unit on Monday.
Freeport LNG, a U.S. liquefied gas company, has a Texas export plant that is on 'track' to receive more natural gas Tuesday. This is because one of the three 'liquefaction /trains" was re-started after being shut down on Monday.
In the past, changes in its operations have led to price fluctuations on global gas markets.
Gas prices in the U.S. typically fall when?flows from Freeport decrease due to a?reduced need for fuel from the export facility. Prices in Europe are usually higher due to a decrease in LNG supply available on global markets.
Prices of futures in the United States have fallen by around 7% on Monday. The liquefaction train in Freeport was shut down, which caused the prices to fall around 7%.
The prices in Europe meanwhile, have remained near their lowest level for 19 months, but not necessarily due to Freeport.
Freeport informed Texas environmental regulators that Train 1 was shut down Monday because of a problem with the compressor system.
Freeport officials were not immediately available to comment.
LSEG reported that gas flows into Freeport are on track to reach a new monthly high of around 1.9 bcfd (billion cubic feet per day) on Tuesday. This is up from 1.6 bcfd Monday. This compares to an average of 1.9 billion cubic feet per day (bcfd) over the previous seven days.
Three liquefaction plants at Freeport can convert about 2.4 billion cubic feet per day of gas to LNG.
A billion cubic feet of natural gas can supply five million U.S. households for one day. (Reporting and editing by Joe Bavier; Scott DiSavino)
(source: Reuters)