Latest News
-
Hungarian Central Bank launches investigation into certain MOL shares transactions
In an email response to questions, the National Bank of Hungary said that it had launched a probe to determine if certain transactions involving shares in oil group MOL violated 'rules against insider trading. The central bank is investigating whether the provisions on prohibited insider trading have been violated in connection with certain capital market transactions linked to MOL Plc. The central bank is investigating whether certain capital market transactions involving the issuer have violated the prohibitions on insider trading. The NBH added, "As the official process is still ongoing, it cannot provide any further details." MOL stated in an email that its executives had carried out their share transactions in compliance with the law and that disclosures of these transactions were also made through legal channels. "MOL...?has always adhered to the relevant laws." The company stated that it is "committed to capital?transparency" and is available for any questions from the NBH. MOL shares dropped 3.25% on the Budapest stock exchange to 3,450 Forints, falling below the market. The central bank didn't say who submitted a report. The local website 24.hu had reported earlier Tuesday that TEBESZ - the association of retail stock investors - had filed a complaint with the central banks - the capital markets supervision authority – regarding some recent sales by MOL officials?of MOL share in the days after the January 27 halt to?crude oil shipments via the Druzhba pipe to Hungary. TEBESZ didn't reply to my emailed question. MOL stated on February 16 that it had requested the Energy Ministry to release "strategic reserves" because the supply via the Druzhba Pipeline had been stopped since January 27. The announcement was made after the Ukrainian foreign ministry announced on February 12 that Russian oil exports to eastern Europe via Ukraine's part of the Druzhba pipeline had been suspended due to an attack by Russia since January 27. (Reporting and editing by Hugh Lawson and Aidan Lewis; Reporting by Krisztina than and Anita Komuves)
-
Denmark talks to Ukrainian drone manufacturer Skyfall about hosting production
The Danish defence ministry announced on Tuesday that Ukrainian drone manufacturer 'Skyfall' is in discussions with the country about becoming the?second defence firm from the war-torn nation to set up production on Danish soil. The firm stated on its website that Skyfall develops unmanned aerial system (UAS), including drones for attack and drone interceptors. Skyfall has an impressive product portfolio and can supply?strategically significant production?and supplies on Danish soil, both for Ukraine as well as Denmark, the defence ministry stated in a press release. Copenhagen announced last year that Ukraine's Fire Point The first foreign expansion of a Ukrainian defense company will be the production of fuel for?long-range?missiles. The Russian Foreign Ministry in December The?production of fuel?for Ukrainian missiles?in Denmark presented a?risk?of escalation. Ukraine in December Signed a contract With?the Netherlands to jointly produce drones. (Reporting and editing by Terje Solsvik, Anna Ringstrom)
-
US Travel Group and lawmakers urge Trump to resume using Global Entry program
A U.S. travel group and a number of?lawmakers called on the?Donald Trump administration on Tuesday to reinstate the Global Entry Program, which allows low-risk, pre-approved travelers into the United States to be cleared faster by U.S. Customs and Immigration. On Sunday, the Department of Homeland Security suspended the program. However, it reversed its original plan to suspend the Transportation Security Administration PreCheck program. The DHS stated that the move was needed to "preserve funds and personnel limited" during a partial government shutdown. The U.S. Travel Association stated that "Suspending the critical security program?does exactly the opposite of what Homeland Security intended, increasing volume in standard lines and stretching the personnel who the Department is trying to protect, while increasing security risks." The $120 membership fee is the main source of funding for this program. This decision is not based on any logical or fiscal reasoning. Social media showed long queues on Monday at Washington Dulles International Airport, near Washington and suburban Virginia. Homeland Security Department didn't immediately respond to an inquiry for comment. Mark Warner, a Virginia Democrat Senator, stated that by 2025, over 18 million travelers would have used Global Entry. This will save over 300,000 hours of officer time at 79 points of entry. Mark Warner, a Virginia Democrat, noted that Global Entry and TSA PreCheck remained operational during the 43 day government shutdown in last fall. Warner said that the administration's claims did not pass a smell test. "The Administration should focus on working with us to find real solutions and not on inflicting pain on American travelers as a 'political stunt. PreCheck is a program that has more than 20 million members. It allows passengers who are approved to?pass through a dedicated security lane in the U.S. PreCheck is available at airports across the United States and is designed to reduce wait times and streamline screening. DHS is currently experiencing a partial shutdown as a result of the lack of funding from Congress. This is due to differences between Republicans and Democrats on immigration enforcement policies.
-
Expeditors tops quarterly estimates on strong customs brokerage demand
The demand for its customs brokerage services helped Expeditors international of Washington to report a profit and revenue in the fourth quarter that exceeded Wall Street expectations. Customs clearance costs have increased as businesses adjust to new tariff rules and comply with compliance requirements. This has boosted demand for brokerage companies like Expeditors and driven up the cost of customs clearance. The demand for customs brokers remained high, reflecting the complexity of the work and the volume. CEO Daniel Wall added that the company planned to increase investments in technology including AI-driven tools to improve efficiency. Wall said that in 2026 the company will'sharpen pricing and align costs further with market conditions, while directing capital towards AI and customer-focused solutions. According to data compiled and analyzed by?LSEG, the Seattle-based company posted a profit of $1.49 for each share in the quarter that ended on December 31. This was above the average analyst estimate of $1.46. The company said that revenue from the air cargo segment increased to $1.11billion from $1.06billion a year ago, driven by?higher export volumes from North and South Asia. The customs brokerage division of the company reported revenues of $1.14 Billion, an increase from $983.2 Million in the same quarter last year. The company posted total quarterly revenues of $2.86 Billion, down by more than 3% on an annual basis, but higher than analysts' estimates of $2.83 Billion. Separately, Expeditors announced a "new share purchase program" that allows the company to repurchase up to $3 billion of its common stock. (Reporting and editing by Diti Pjara in Bengaluru)
-
Pentagon: US forces capture third sanctioned oil-tanker in Indian Ocean
The Pentagon announced?on Tuesday that U.S. forces had intercepted a sanctioned tanker in the Indian Ocean, after tracing it from Caribbean waters. This was the third interception in this region. Washington has stepped up its blockade of vessels going to or from Venezuela, a South American member of OPEC, after capturing 'Venezuelan president Nicolas Maduro during a military savage last month. The U.S. Department of Defense announced in a post to X that its forces had boarded Bertha over night. The crude oil tanker was accused of trying to defy Iran sanctions. According to the Office of Foreign Assets Control of the U.S. Department of Treasury, The Bertha is a Cook Islands-flag ship that's linked to Shanghai Legendary Ship Management Company Limited. Sanctions were imposed on this vessel in January 2020. It was not possible to reach the ship management company for a comment immediately. A TANKER LEFT VENEZUELAN WAVES IN EARLY?JANUARY MarineTraffic's data shows that the vessel last reported its position via AIS tracking on February 24. It was sailing in the Indian Ocean near the Maldives. "Overnight U.S. Forces?conducted a maritime interdiction, right-of visit, and boarding of Bertha without incident within the INDOPACOM region of responsibility. The Pentagon reported that the vessel had violated President Trump's quarantine in the Caribbean, and was trying to evade it. From the Caribbean to Indian Ocean, we tracked and stopped it. The Pentagon said that "three boats fled and all three were captured." It did not provide any other details. The Bertha left Venezuelan waters in early January as part of a fleet that was almost entirely seized by the U.S. According to reports by Venezuelan state-owned company PDVSA, the ship was carrying 1.9 million barrels Merey heavy oil bound for China. In a statement made earlier this month by Defense Secretary Pete Hegseth, he said that the U.S. Military forces boarded Suezmax tanker Aquila II on the Indian Ocean. The Veronica III was seized in the same area on February 15th. The U.S. president Donald Trump ordered that the Defense Department renamed itself as the Department of War. This change will require the approval of Congress. The vessels that were taken in the past were either under U.S. sanction or part of "shadow fleets" of ships which disguised their origins for moving oil from major sanctions producers such as Iran, Russia or Venezuela. Analysis shows that U.S. forces have intercepted ten tankers in the last few months, with the most recent seizure. At least two of these were returned to the Venezuelan government. "International waters are no refuge for sanctioned agents." The Pentagon stated that our forces would find you, and bring justice to your case, whether it was by land, sea or air. (Reporting and editing by Alex Richardson, Jonathan Saul, Marianna Pararaga and Susan Heavey)
-
Turkey signs preliminary agreement for the largest foreign-funded rail project
The Turkish government has signed preliminary agreements with six international lenders for a $6.75 billion project to build a new railway across the Bosphorus. This would be Turkey's largest foreign-financed railway. He said that once the line is completed, it will be able to transport 33 million passengers each year and 30 million tonnes of freight. It would also boost the country's rail capacity between Asia, Europe and the Middle East. The funds will be used to support the Northern Ring Railway Project. This project will run 125 km (78 miles) and carry passengers and freight between?Gebze and Halkali, via the Yavuz Sultan Selim Bridge that connects Istanbul's main airports. The minister stated that preliminary agreements were made with the World Bank and Asian Infrastructure Investment Bank as well as the Asian Development Bank and Islamic Development Bank. Uraloglu stated that "we aim to?complete the tender process and?hand?over the site this year so (construction) works can begin." The Marmaray tunnel is the only way to transport rail freight across the Bosphorus Strait. However, this service is available for a limited number of hours each day. According to the website of the Ministry, only 1.7 million tonnes of cargo was transported through Marmaray from 2020 to October 2025. Reporting by Tuvan Gümrukcu and Can Sezer; editing by Andrei Khalip
-
Venezuela prepares larger oil cargoes to export, targets India
Sources and data indicate that trading houses and buyers of Venezuelan oil chartered the very large crude carriers to export from the South American nation since the Caracas-Washington deal was signed. This is expected to increase shipments to India and speed up the process starting in March. Trading firms Vitol & Trafigura export Venezuelan crude oil & fuels since January. This is part of the $2 billion deal that the U.S. & Venezuela signed after the capture of President Nicolas Maduro. According to data on vessel movements, the 'lion's share' of exports has been made by Panamax and Aframax tanks to U.S. refining facilities, while Suezmaxes are being shipped to Caribbean terminals such as Curacao and St. Lucia. Hire supertankers with a capacity of up to two million barrels can speed up deliveries to Venezuela's main oil export terminal Jose. This is run by the state-owned energy firm PDVSA, which handles 70% of all crude shipments. PDVSA and Vitol?did not reply to requests for comment. Trafigura refused to comment. Reporting by Marianna Pararaga, Shariq Khan, Arathy Sommesekhar, and Georgina Mcartney. Julia Symmes Cobb edited the story.
-
Singapore Airlines profits slump masks strong operational performance
Singapore Airlines reported a 69% drop in its third-quarter profit, which was distorted by a gain of a single dollar a year ago and losses at Air India. However, strong passenger demand helped to boost operating revenue. Singapore Airlines owns a 25,1% stake in Air India. The airline began to account for Air India's earnings after December 2024, when the joint venture Vistara of Singapore Airlines was integrated into Air India. Singapore Airlines reported a net loss of $398.6m (S$505m) during the period October-December, down from S$1.63bn a year ago. This was boosted by an?S$1.1bn gain from the Air India/Vistara merger. The carrier's decline in profit masks a strong operational performance. It posted a record quarterly revenue of S$5,51 billion, and a 26% increase in operating profit, to S$792 millions, on the back of strong passenger demand, increased yields, and improved passenger loads. Higher operating costs have partly offset improvements in operational performance due to the record-breaking?global travel demands that keep older aircraft in service, and drive up fuel and maintenance expenses. Total expenditures for the airline rose by 2.7%, to S$4.71billion, due primarily to capacity expansion, increased fuel prices, and higher uplift volumes. Singapore Airlines' growth was driven by its passenger operations. Scoot and Singapore Airlines carried 10.9 million passengers in the third quarter, an increase of 6.3% on a year-on-year basis. The group's average passenger yields (the price that a passenger pays for a kilometer of flying) rose by 1.9%, to 10.9 Singapore Cents per revenue passenger-kilometre. This reflects an improved pricing power. The group's cargo division saw a 5.4% decline in revenue to S$581m, as yields dropped 6.2%. The cargo load factor of the group, which is a measure of how crowded cargo holds are, fell to 56.3%, as capacity growth outpaced demand growth. Tabitha Foo is an equity research analyst with DBS Group Research. She said: "Sustained growth in passenger travel should offset the softness of cargo, and the share price will react positively due to the impressive operating performance beat. We remain vigilant on Air India." Singapore Airlines said that the demand for air travel will remain "healthy" into the last quarter of FY2025/26 due to seasonal travel. From June, the carrier will expand its network by adding new routes, including Riyadh in Saudi Arabia. Lorraine Tan, Morningstar's director, said: "We expected competition to increase as capacity in Asia returned to levels prior to the pandemic, but some carriers have been able to maintain higher yields for longer." ($1 = 1.2663 Singapore dollars)
Putin warns his enemies against over-pressuring Moscow by telling the FSB to protect the energy sector.
In response to the Ukrainian 'attacks' that he claimed were carried out with the assistance of Western intelligence, President Vladimir Putin tasked the FSB to increase the protection of Russia’s energy & transport infrastructure.
Putin said that Russia's enemies will regret pushing Moscow too far, as he spoke on the fourth anniversary.
He told a group of FSB officials that the enemy was relying on individual and mass terror. This includes sabotaging the infrastructure and attempting to assassinate government and military officials.
"It is absolutely necessary to defeat Russia. They will try anything. "They will push themselves too far and regret it," said he.
In the course of the war, Ukraine repeatedly attacked Russian oil refineries, ports and depots. Moscow accuses Ukraine of a "series" assassinations against senior military figures.
In televised remarks Putin suggested that Russian energy "pipelines" under the Black Sea might be targeted.
He gave an order "to strengthen the anti-terrorist?protection of energy and transport infrastructure, as well as public gathering places, provide maximum coverage, and if needed, equip these facilities with additional security measures." Reporting by Dmitry Antonov; Writing by Mark Trevelan, Editing by Andrew Osborn
(source: Reuters)