Latest News
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Swiss Federal Prosecutors Probe Terror Links to Knife Attack
The Office of the Attorney General (OAG), a Swiss federal prosecutor, has taken charge of the investigation into the knife attack that occurred at Winterthur Railway Station on Thursday. They are treating this case as terrorism-related. The federal prosecutor announced that criminal proceedings had been opened against the suspect on suspicion of multiple attempts at murder, participation in or support for a terrorist organization, and involvement with a terrorist group. Three Swiss men have been injured in the 'attack that took place in Winterthur on Thursday morning, just north of Zurich. Three men were stabbed, one in the leg and two in the neck. A third was stabbed on the thigh. All three men were taken to hospital, with the third requiring emergency surgery. The police arrested the suspected perpetrator, a dual Swiss-Turkish citizen of 31 years, at the station, just a few moments after the initial emergency call. Investigators have now focused on the motive of the attack. This includes a thorough review of the background and history of the suspect. The prosecutor's department said that its "main hypotheses" is that the attack was suspected to be terrorism. Police said that the suspect was reported to police in 2015, for "spreading propaganda" from the militant hardline group Islamic State. The Swiss newspaper Blick said it had also 'obtained a video of a man running out of Winterthur Station shouting 'Allahu akbar, an Arabic phrase that translates to 'God is the greatest. The video was not independently verified. The federal prosecutor said on Friday that the incident was a sign of jihadist-motivated terror in Switzerland. (Reporting and editing by John Revill)
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European shares gain monthly on Middle East Peace Hopes
European shares edged higher on Friday to close the month with gains. Investors clung to hopes that a proposed agreement could be reached extending a Middle East truce and reopening the Strait of Hormuz. Market optimism was sparked by reports that U.S. president Donald Trump had been weighing a preliminary U.S. Iran agreement. He said that he would reach a decision on the deal by Friday. Kathleen Brooks is the research director for XTB. She said that the market may test its patience if a deal cannot be reached by the end of June. This could have a major impact on the oil price as well as the rally in the global stock markets. The STOXX 600 pan-European index rose 0.1%, to 626 points. This was a positive week's end. The benchmark index was 'within striking range of record highs this week, and had secured a monthly gain of 2.5%. However, recent escalation in the Middle East conflict has capped further advancements. European stocks?continue?to lag behind tech-heavy counterparts in Asia and the United States because of the region's limited?exposure to technology stocks. Marija Veitmane is the head of equity analysis at State Street. When asked if a geopolitical solution?could spark a major rally Marija said no, pointing to structural demand destruction as well as looming rates hikes which could impact corporate profitability. The data confirmed the hawkish view, with inflation in four of the largest eurozone economies above the European Central Bank’s 2% target rate for the third consecutive month. Investors are pricing in 50 basis points tightening before year's end, according to LSEG. Crude oil prices, which are a vital resource in Europe's energy crisis, have fallen and could be on course for their first drop in two months. Airline stocks, such as Lufthansa, Air France, and consumer discretionary stocks, like luxury, are sensitive to energy price changes. Both have added more than 2%. Defence stocks are among the top sectors with a 0.7% increase. NATO has accused Moscow of reckless behavior and promised to "defend each inch of allied territory" following Romania's report that a Russian drone crashed into an apartment building in the member state of NATO during an attack against Ukraine. During geopolitical conflict, the sector usually gains on increased military spending. CTS Eventim rose 10.7% after the German ticket company said that its revenue grew by 23% during the first quarter of 2026. This was due to strong demand for live performances. Orkla shares fell 5.3% as UBS downgraded it from "neutral" to "sell", citing the increasing pressure from inflation and the Middle East Conflict. (Reporting and editing by Johann M Cherian, Bengaluru. Sherry Jacob Phillips, Joyjeet Das, Joe Bavier.
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Britain will step up its subsea cables protection in response to the rising Russian threat
Britain has proposed tougher punishments for shipowners or operators who damage'subsea cables,' including prison sentences. The aim is to deter Russia and hostile?states sabotaging the nation's infrastructure. Subsea cable carries over 99% of international data traffic. This includes calls, messages, and other internet services, as well as more than PS1.4 trillion worth of British financial transactions every day. Last month, Britain claimed to have exposed a Russian covert submarine operation around UK waters. This was a bluff? to hide other specialist vessels operating near critical underwater infrastructure. Liz Lloyd, the Telecoms Minister said that Britain had strong military capabilities for protecting cables. However, overhauling 140 year-old legislation will remove a "grey zone" of legal uncertainty around suspected malicious activities to increase deterrence. She said that "as hostile activity from Russia and other countries grows, protecting these cable is more important than ever" for our economy, daily life, and security. "That's why we intend to go further, with tougher sanctions for reckless damage and stronger security obligations as well as new powers to react quickly when incidents occur." Russia previously denied British allegations that it had threatened or targeted subsea cable. Lloyd said sabotage committed by an enemy state already carries a life sentence for the perpetrators, but that new laws will cover the use of proxy actors by state actors as well as reckless damage. She said that the government would also "work with cable operators and owner to reduce accidental damages arising from fishing activities or vessels dragging their anchors which, she said, "accounted for almost all cable outages". Lloyd stated that the company was consulting with industry about establishing a British repair ship in order to increase resilience. He added that a final decision would be made 'later this year. She added that the government would also examine?environmental regulations to accelerate the laying down of new cables in deep water where the impact on marine wildlife was very limited. (Reporting and editing by Kirsten Doovan; Paul Sandle is the reporter)
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Putin says that it is too early to determine if the drone that strayed in Romania was Russian
Vladimir Putin, the Russian president, said that it was still too early to say if a drone crashed into a Romanian apartment block. He suggested that the drone could have been Ukrainian. NATO condemned Moscow for its reckless behavior and promised to "defend each inch of Allied Territory" after Romania reported that a Russian drone crashed into an apartment 'block' in the member state of the alliance during an attack against Ukraine. "Who in Romania claims that this drone is Russian?" Putin asked reporters at a press conference in Astana (Kazakhstan) He claimed that he only heard about the incident after a day of talks. He said that until an investigation is carried out, no one could say what the origin was of a drone. Putin claimed that drones from Ukraine had been seen in Finland, Poland, and the Baltic states. Putin said: "The first reaction was the same as what is happening in Romania now, namely that Russians were coming." After a few days, it became clear that the incident had nothing to do with Russian drones. Putin also responded to remarks made by European Commission President, Ursula von der Leyen. Von der Leyen accused Russia of having crossed 'another line' with this incident and said that she hadn't examined the drone debris herself. Putin asked Romania to'share information about what happened? and possibly drone fragments, so that Moscow can conduct its own investigation. Reporting by Vladimir Soldatkin, Anton Kolodyazhnyy; Writing by Guy Faulconbridge/Maxim Rodionov. Editing by Andrew Osborn.
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South Bow aims for a decision in 2027 on Canada-US oil pipe revival
The company announced on Friday that it had secured the shipper agreements it needed to move the project forward. The proposed 550,000-barrel-per-day Alberta-to-Wyoming pipeline, dubbed Prairie Connector, could increase Canada's crude exports to the U.S. by 12%, ?adding much-needed Canadian pipeline capacity. South Bow, in collaboration with its U.S.-based partner Bridger Pipeline, has said that it had'secured 20 year binding contracts' from oil companies, through a process started this year to gauge interest. This?month, sources said that South Bow is close to achieving its goal of 450,000 bpd or 80% initial pipeline capacity. PIPELINE - PARTLY ASSEMBLED in Canada South Bow was spun off by TC Energy, the former Keystone XL promoter, in 2024 to takeover its oil pipeline business. The new pipeline will not use the same route in the United States as an earlier project, which was canceled by former President Joe Biden in 2021. However, some of the Keystone XL pipe that has already been assembled on the Canadian border would be used. The new proposal has been granted a cross-border permit by U.S. president Donald Trump. South Bow CEO Bevin Wizba said on Thursday that the company could not proceed until it had evidence of a "durable" permit, and that it would not be revoked in the future by another administration. TPH Energy analyst AJ O'Donnell said that while the open season was successful in securing?shipper's commitments, there are still lingering risks with the U.S. Permit. O'Donnell stated that "without assurances" that the new U.S. government would not revoke permits in 2029 as Biden did for KXL, it is likely the project will be stalled. South Bow hasn't publicly disclosed the price of its project. However, ATB Capital Markets analysts estimated that it would cost $2.2 billion ($3 billion C$) and could take between two and three years to complete after an investment decision. Canada is the fourth largest oil producer in the world, producing 5.5 million barrels per day. Forecasts indicate that this could rise to 6.1 millions bpd in 2030. Reporting by Amanda Stephenson, Calgary; Arathy Smasekhar, Houston Editing Rod Nickel
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US Travel Group warns that closing Newark Airport to international travel will cost $8 billion per year
The U.S. Travel Industry Group said that the removal of immigration officials from Newark Airport would cause "immediate harm and lasting harm". It could also strand Americans and cost the U.S. $8 billion in annual spending by tourists. U.S. Travel Association reported that U.S. Customs officials process 5,000,000 Americans returning to the United States annually at Newark Airport in New Jersey, near New York City. The group warned that "Americans from all over the country could have their flights to the U.S. canceled or diverted." The group said that "millions of international visitors would face the same disruption and, with the FIFA World Cup just weeks away, the damage done to America's image as a welcoming country would be significant and long-lasting." The group also added that a shutdown could threaten billions of dollars worth of imported cargo. The head of Homeland Security warned on Thursday that the Trump administration may soon stop processing international passengers and cargo at the 'Newark Airport because local law enforcement officials are not helping federal immigration officials up north in New Jersey. DHS Secretary Markwayne Mullin said that local police did not ensure that federal immigration officials were able to enter and exit a New Jersey Detention Center and warned that he would reassign Customs Officials from the Airport. Mullin stated on Tuesday that the Trump administration was preparing plans to stop the processing of international travelers and cargo in major U.S. Airports located in "sanctuary Cities" which have refused to cooperate with a?immigration clampdown. This could effectively stop international air travel at major airports of 'Democratic States,' as millions of tourists are expected to arrive for the start of FIFA World Cup next month. The final will take place on July 19, in East Rutherford (New Jersey), about 12 miles away from Newark Airport. The U.S. Justice Department has published a list of'sanctuary cities and states. This includes many major cities with international airports, including Boston, Denver, Philadelphia, Chicago Los Angeles, New York City Newark, Seattle, and San Francisco. Last year, more than 50 millions international travelers visited the three main New York airports.
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There are some flights to the Middle East that have resumed but there is still disruption.
As regional carriers re-build their schedules following war-related disruptions, some airlines are gradually restoring flights to the Middle East. However, the conflict continues disrupting wider traffic flows. Middle Eastern airlines have increased capacity following severe disruption caused by the Iran War, but many carriers outside of the Gulf still divert Europe-Asia flights to avoid the area. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest airline in Greece has cancelled flights between Thessaloniki and Tel Aviv up until June 26. Dubai flights are cancelled until August 31. Erbil, Baghdad and Erbil flights will be cancelled until July 2. AEROFLOT The Russian flag carrier announced that it would resume flights to the United Arab Emirates on June 1. AIRBALTIC AirBaltic, a Latvian airline, has announced that flights to Tel Aviv are cancelled until the 28th of June. Dubai flights are cancelled until 24 October. AIR CANADA The Canadian carrier has canceled flights to Tel Aviv, Dubai and Abu Dhabi until September 7. AIR EUROPA Spanish Airlines has cancelled all flights to Tel Aviv up until the 28th of June. AIR FRANCE-KLM Air France has suspended Tel Aviv flights through June 7. Air France has suspended its flights to Tel Aviv until June 7. KLM suspends flights to Riyadh, Dammam and Dubai until July 12, and until August 2. CATHAY PACIFIC Hong Kong Airlines has suspended all flights to Dubai, Riyadh and cargo services until May 31, and until August 31, respectively. The airline plans to continue all scheduled flights after June. The U.S. carrier plans to resume New York JFK-Tel Aviv flights from September 6 and has extended the suspension of services on the Atlanta-Tel Aviv routes through December 18. The launch of the Boston-Tel Aviv flight, originally scheduled for late October, has been delayed. EL AL ISRAEL AIRLINES All flights to Dubai have been cancelled until 31 May. FINNAIR It has cancelled all flights to Doha until October 2 and continues to avoid the airspaces of Iraq, Iran Syria, and Israel. The airline will only resume Dubai flights in October. British Airways, owned by IAG, has decided to delay the resumption of flights to Dubai, Doha, and Tel Aviv until August 1. It also plans to reduce Middle East flights when they resume and to permanently drop Jeddah from its list of destinations. The airline also plans to reduce the number of flights to?Dubai and Doha as well as Riyadh, Tel Aviv, and Riyadh to just one per day. Iberia Express, the Spanish low-cost carrier of IAG, has cancelled all flights to Tel Aviv until May 31. JAPAN AIRLINES Japan Airlines has suspended its scheduled Tokyo-Doha and Doha-Tokyo flight until August 1, as well as Doha-Tokyo until July 31. The Polish airline has suspended its flights to Tel Aviv till May 30. The airline has also cancelled its flights to Riyadh up until June 30, and to Beirut between March 31 and June 27. LOT will operate its winter route from Dubai to Riyadh in October. LUFTHANSA GROUP Austrian Airlines plans to restart flights to Tel Aviv on June 1. SWISS, ITA Airways, and Lufthansa plan to resume flights in July. Brussels Airlines suspended its operations until October 24, ITA Airways, SWISS, and Lufthansa will continue to suspend flights until September 13 Until October 24, SWISS, Austrian Airlines, Brussels Airlines, Lufthansa and SWISS have suspended their flights to Abu Dhabi and other destinations, including Amman, Beirut and Dammam as well as Riyadh. Erbil, Muscat, Tehran and Riyadh are also affected. Eurowings, the low-cost carrier, has suspended flights from Tel Aviv to Beirut and Erbil. ITA Airways has also extended its suspension of flights to Riyadh through June 30. MALAYSIA Airlines will resume limited service to Doha on July 2. NORWEGIAN AIR The low-cost airline has delayed the launch of its Tel Aviv, Beirut and Beirut services until June 15. PEGASUS Pegasus Airlines, Turkey's national airline, has cancelled all flights to Iran, Iraq Kuwait, Bahrain, Dammam Riyadh Abu Dhabi Sharjah until June 1. QANTAS Australia's national carrier has added flights to Rome, Paris and London to respond to a surge in demand on European routes. The number of flights to Paris will rise from three to five weekly return flights, and the Perth to Singapore service will go up from daily to ten a week. A new schedule will be implemented gradually for flights starting in mid-April. It will run through late July. ROYAL MAROC Moroccan carrier announced that flights to Doha and Dubai will be cancelled until 30 June. SINGAPORE Airlines To meet increased demand, the carrier has extended its Singapore to Dubai flight suspension until August 2. It also added services on Singapore-London Gatwick (late March) and Singapore-Melbourne (late March to October 24). TURKISH AIRLINES SunExpress, Turkish Airlines joint venture with Lufthansa has cancelled flights until June 30, including to Dubai, Bahrain and Erbil. WIZZ AIR Low-cost airlines resumed their flights to Tel Aviv from May 28, but flights to Dubai and Abu Dhabi, as well as flights to Amman in Jordan remain suspended. All flights to Medina have been suspended permanently. (Compiled by Josephine Mason and Jamie Freed. Elviira Loma, Tiago Branao, Agnieszka Olenka, Bernadette HOG, Boleslaw LaSocki, Romolo Tosiani. Matt Scuffham and Alexander Smith edited by Milla Nissi, Susan Fenton, Jonathan Ananda, Milla Nissi-Prussak, and Jonathan Ananda.
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Poland arrests employee of arms manufacturer suspected of spying
Wladyslaw KOSINIAK-KAMYSZ, the Polish Defence Minister, announced on Friday that a PGZ employee had been detained on suspicion of spying for a foreign'state. Poland claims that its role as the hub for military supplies and other goods?to Ukraine makes it a 'target' for Russian spies who are trying to gather information on Kyiv’s efforts to repel Russia’s invasion, as well?as to engage in sabotage. Kosiniak Kamysz reported on X that "On May 27,... the department of military affairs detained a Polish citizen, an employee of a PGZ Group facility, on suspicion of espionage for a 'foreign'state." The district court of 'Poznan' ordered, on May 29th this year, the implementation of preventive measures in the form of a?temporary arrest? for a period?of 3 months. (Reporting and editing by Hugh Lawson; Anna Wlodarczak Semczuk)
Grid charges are key to Bangladesh's "merchant" renewable growth
Bangladesh permits business-to-business deals
This allows businesses to increase their renewable share
The key to the viability of this business is network charges
Tahmid Zami Tahmid Zami
Last year, Bangladesh allowed private companies to directly sell electricity to large consumers. The electricity from "merchant power plant" was carried over the grid with users paying charges to the grid and distribution companies.
India has allowed open-access to power purchases for many years, while Pakistan has been working towards a "competitive" bilateral market but has had disputes over the use-of system charges.
The energy regulatory commission of Bangladesh is currently working out the details for its open-access grid, including what charges consumers will have to pay.
Energy analysts say that the viability and affordability of open-access deals for power purchases is partly dependent on the grid charges, and any additional surcharges. These will be crucial to the balance of interests between businesses, households, and farmers.
After the grid charges are finalised and rules have been set, buyers such as ready-made garment producers with targets for greenhouse gas emissions reduction can purchase renewable electricity directly from remote wind or solar power plants.
Mohiuddin Rubel, managing director of Denim Expert Ltd, a garment supplier, says that a mid-sized factory could offset 10% to 15% of its energy demand through rooftop solar. Off-site generation can take this up to 50% or 70%.
Companies can buy renewable energy certificates (RECs) from renewable energy producers. Bangladesh has not yet developed a market for RECs with a large enough supply, according to garment suppliers.
"Merchant Power Plants will allow us the ability to buy electricity directly and reduce the need to purchase renewable energy certificates on the market," stated Mashook Mujib. Sustainability manager at DBL Group.
CHARGES KEY
Shafiqul alam, an energy analyst with the Institute for Energy Economics and Financial Analysis (a non-profit based in the United States), said that Bangladesh's annual investment into renewable energy has been less than $250 millions a year. This is far below what is required.
He said merchant power generators could be a way to boost renewable investment.
Recent news reports suggest that open access charges may be around 2 U.S.cents per kilowatt hour, in addition to renewable tariffs of about 9 U.S.cents per KWH. Alam said that such charges could increase costs for industrial users and industry's response may be lukewarm.
Officials from the government said that the charges should be balanced to balance the interests and concerns of all parties.
The needs of each party are different: the consumers want affordable and reliable power, the project developers want bankable projects and predictable revenues, and the utilities and grid operators have to maintain and recover the costs of the service.
Experts from India and Pakistan, two countries that border Bangladesh, said they had mixed lessons to teach the country.
Khalid Waleed is a research fellow with Pakistan's Sustainable Development Policy Institute. He said that the costs for using the transmission network and distribution system are slowing down the industry's transition to renewable energy sources off-site.
He said that the experience of Pakistan can be a warning to other countries, such as Bangladesh.
Waleed stated that Pakistan is moving towards a flat rate of 12,55 Pakistani Rupees ($0.045). The industry, however, believes it should be closer at 5.85 rupees (0.045) for each kilowatt hour.
He said that as Pakistani consumers move from grid power to renewable energy, the government is trying to compensate for the revenue lost by adding the old system costs to the?bills.
GROWING DEMAND FOR POWER
India has, on the other hand, developed remote power purchasing arrangements using both open-access long-term deals and short-term power trading.
Indian businesses that purchase power under open-access agreements are also required to pay a subsidy to many farmers and households.
Deepak Krishnan is the deputy director of WRI India's energy programme. He said that if these charges were not recovered from open access consumers who are typically corporate buyers, they would be a heavy burden for poorer consumers.
The energy regulator in Bangladesh must balance competing interests, by fixing charges transparently, so that the utility companies don't lose out and the market doesn't get destroyed, said Krishnan.
Prabhakar Singh, consultant at Indian consultancy outfit JMK Research said that open-access fees should be consistent over a specified period to allow investors to plan their business models.
If the government wants open-access markets for solar and wind for industrial consumers, then there could be waivers to a certain degree," said Sharma.
Shafiqul alam, IEEFA, says that open-access power purchases could be used in Bangladesh to meet the increasing?industrial electricity demands. He added that utilities and policymakers should avoid charging a high rate immediately and instead revisit the issue in three years' time to see if they are losing money.
(source: Reuters)