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Danish military helicopter hit by flares fired from Russian frigate, says Denmark
The Danish military reported that a Russian frigate shot two flares at a Danish helicopter on Monday in international waters near Denmark, but the aircraft was only narrowly missed. After incidents such as gas pipeline outages and airspace violations, and drone sightings, the Baltic Sea region has been on high alert. This is due to tensions rising between Moscow and the West following Russia's full-scale invasion in 2022 of Ukraine. In a late-night statement, the Danish Defence Command said that the Fennec helicopter was on a routine photo mission to take pictures of the Russian frigate. The defence command reported that one of the flares, which are usually used to warn ships at sea, passed "close" to the helicopter. The Russian Embassy did not respond immediately to a comment request. DENMARK SAYS RUSSIA GETS MORE?AGGRESSIVE Mette Frederiksen, Prime Minister of Denmark, said that the incident was not only serious but also predictable. She called it a part?of an increasing aggressive Russian pattern which intensified hybrid warfare against Europe. "Russia wants fear and discord. "Our answer is to strengthen our defence of Denmark and Europe and stand closer together," she said in an official statement. Hybrid attacks can be classified as aggressions that do not qualify as war crimes. Foreign Minister Lars Lokke Rasmussen deemed the incident "unacceptable", and stated that it could have put human lives at risk. "Denmark works to ensure that all ships can pass through Danish waters peacefully, but Russia is slowly?moving the lines for what it considers unacceptable behaviour," he stated in a press release. He claimed to have summoned the Russian?ambassador for a meeting in Denmark. Key Waterway for Shipping, Oil Danish Straits is the main sea route for military and commercial shipping to and from the Baltic Sea. The Danish Straits are a major route for global oil shipments. This includes Russian tankers that circumvent Western sanctions. The Danish Defence Intelligence Service reported last year that Russian warships repeatedly targeted Danish vessels and helicopters using tracking radars. They also pointed weapons towards them in the Straits. Russia has repeatedly denied that it is responsible for hybrid attacks in Europe and dismissed all accusations.
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Tata Sons shares in India surge after RBI's decision to revive listing prospects
Shares of Tata Group companies rose on Tuesday, as investors re-expect that Tata Sons will eventually be listed. This is after India's Central Bank rejected the holding's request to deregister from being a non bank lender. Tata Sons' potential listing, as the holding company for 31 Tata group companies, would unlock value and increase valuations of listed Tata companies. This is especially true of those companies with stakes in "the unlisted parent". Tata Chemicals is one of the companies with stakes in Tata Sons. Tata Trusts owns 66%. They disagreed with N Chandrasekaran, the chairman of Tata Sons. This included the potential listing of Tata Sons. Tata Sons announced last month that Chandrasekaran will not seek re-appointment. This uncertainty about the future leadership of the group has increased. Tata Chemicals shares jumped as much as 20% Tuesday. Tata Motors Passenger Vehicles shares rose 4%. Tata Investment shares advanced 10%. Tata Chemicals holds 2.5% of Tata Sons according to ICICI Securities. Tata Chemicals is trading at its highest level for about 2-1/2 months. The brokerage believes the stake could be worth between 100 billion and 150 billion rupees (1,04 billion and 1,56 billion dollars), which is close to the current market capitalisation of Tata Chemicals. This highlights the potential to unlock significant value. ICICI Securities, however, said that it expected a "prolonged court battle" though the stock may remain positive in the short term. Privately held The more than 100-year-old 'holding company', which had assets of 1.75 trillion rupees in March 2025 alone, has sought to remain privately held. Tata Sons has been classified as a core investor company, and is therefore subject to RBI regulations for non-bank lenders, which require that companies with assets exceeding 1 trillion rupees or with direct or indirect access to public funds be listed. The company was also under pressure to go public from its shareholders, including the second largest shareholder, the?Shapoorji Group. In media interviews, two Tata trustees supported the listing of Tata Sons. They argued that expansion into new fields such as semiconductors would require large amounts capital that could not be generated by Tata Sons.
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Palm oil prices rise for the second consecutive session due to crude strength
Malaysian palm futures increased?for the second consecutive session on Tuesday following a?continued rise in crude oil prices. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was up 46 Ringgit or 0.95% at 4,896 Ringgit ($1,200.59). Anilkumar bagani, the research head of Sunvin Group's vegetable oil broker in Mumbai, said that BMD CPO futures traded higher today due to gains in energy prices. He said that he was able to provide additional support because of the expectation of tightness in Indonesia next year, due to its B50 mandate for biodiesel and a possible production?reduction caused by El Nino. Prices of oil rose on Tuesday as fears over supply disruptions persisted following attacks on Saudi Arabian infrastructure that knocked the East-West pipeline in the Kingdom offline. This cast doubt on the efforts to reduce shipping risks in Gulf. Palm oil is a better option as a feedstock for biodiesel due to the stronger crude oil futures. Dalian's soyoil contract, which is the most active contract in Dalian, dropped by 0.91% while palm oil contracts fell by 0.38%. Prices of soyoil on the Chicago Board of Trade rose by 0.07%. As it competes to gain a share in the global vegetable oil market, palm oil is able to track rival edible oils. Palm's trade currency, the?ringgit (dollar), has weakened by 0.1%, making it cheaper for buyers who hold foreign currencies. Technical analyst Wang Tao stated that palm oil could bounce further into the range of 4,930 to 4,964 Ringgit per metric ton after breaking above a declining trendline.
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French strike at Dunkirk LNG Terminal reduces capacity
Fluxys' data shows that a?24-hour strike in France’s power sector is expected to?reduce delivery capacity at?the Dunkirk liquefied natural gas terminal?to 4 gigawatt hours per day as of 0700 GMT Tuesday. Fluxys' data shows that the terminal delivers at least 9.4 GWh a day. The unions at the state-owned EDF, Fluxys (a Belgian gas terminal operator) and Elengy (a French gas terminal operator) have called a strike on Tuesday to protest a French Court of Auditors recommendation to reduce employee benefits like?access to cheaper electricity. France is one of Europe's biggest gas exporters. The strike occurs as Europe rushes to fill its gas storage before winter. Germany and other gas-dependent countries are lagging behind European Union targets. LSEG analyst 'Dzmitry Dauhalevich' said that the disruption will likely only?affect sending out ability, since no cargo has been scheduled to arrive in Dunkirk, and none was redirected to another terminal. Elengy's spokesperson said that there had been no disruptions to the Fos terminals, or?the Montoir Terminal. EDF data shows that the strike knocked 6.5 gigawatts (gigawatts) of electricity off-line overnight on Monday. The French energy sector offers discounted prices for electricity and gas to workers, retirees and their unions.
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Winter is on its way: AirBaltic's debt woes presage a tough season for smaller airlines
The aviation industry is preparing for a difficult winter after Latvian airline airBaltic filed Chapter 11 procedures on Monday. This is because the Iran War?continues pushing up jet fuel prices. U.S. 'war with Iran' has caused the worst airline crisis since the COVID-19 Pandemic in terms of costs. AirBaltic was the first European carrier to declare bankruptcy during the conflict, while U.S. rival Spirit collapsed in may after seeking protection prior to the war. The margins of airlines are relatively small compared to those in other industries, making them more vulnerable to geopolitical instability, especially in winter, when bookings and travel drop, and they lose the money they made in summer. SAVING RETURNS The price of jet fuel is expected to remain high for as long as the Strait of Hormuz is blocked. This will put additional pressure on smaller carriers. Aviation analyst John Strickland stated that "smaller, niche players?are (mostly) at risk". The fuel price has doubled since the beginning of the war in late February. However, there are some advantages for larger budget airlines. Wizz Air reported that its operating losses increased in the first three months. It said it expected revenue per seat will continue to fall in the second quarter. In August, they reached a new record of 8.7 million passengers. Wizz Air, supported by strong liquidity and a disciplined hedge programme, continues to grow, invest and serve more customers. James Halstead of Aviation Strategy said that Wizz Air was in a stronger position than state-owned carriers thanks to its stock market listing. "They're growing fast, so they are sacrificing current returns for future stability." He said they have a good operating model, a great brand and support. AirAsia, a budget airline in Southeast Asia, is looking to raise new capital following a restructuring and consistent losses, while Air Transat, a Canadian carrier, has been struggling with rising jet fuel prices. AirAsia stated that it did not see any problems with the sustainability of its business and saw a strong demand at the underlying level. AirAsia stated in a press release that it is committed to maintaining stable operations and business continuity across its markets. We continue to see a strong demand for our services across the network. "We also work closely with our stakeholder to manage our financial requirements and operational needs." Air Transat didn't?respond immediately to a comment request. More routes for bigger players Executives and investors have warned that a tough market may force some smaller airlines to cede their routes to bigger, more well-funded rivals. Analysts say that budget airlines like Ryanair and Wizz air could pose a threat to them. They have been acquiring smaller secondary airports in an effort to grow and are attempting o take over lucrative slots and routes throughout central Europe. Wizz Air CEO Jozsef Varradi told reporters in August that he was eager to take over routes from Romanian state-backed carrier TAROM. TAROM didn't immediately respond to a comment request. The tighter market could accelerate the long-standing trend in Europe of consolidation. This would push some smaller carriers into larger groups, such as British Airways' owner IAG, Lufthansa, and Air France-KLM. Norse Atlantic has started in July a process to sell or merge the company, which still reports quarterly losses. It did not respond immediately to a comment request. Since years, the state-owned Polish carrier LOT is suspected of being a target for consolidation. LOT did no respond immediately to a comment request. AirBaltic said that it is 'looking for another strategic investor', but no one has publicly expressed interest. Lufthansa has 10% of airBaltic, but it's said that they don't intend to increase their stake. It refused to comment on its possible next steps in light of airBaltic's Chapter 11 proceedings. Analysts said that airBaltic could still survive and recover from Chapter 11 proceedings, unlike Spirit. Strickland cited the Scandinavian competitor SAS as an example of how to turn things around.
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Airbus's demand is not affected by geopolitical factors
Airbus' Asia-Pacific President said on Tuesday that the geopolitical and supply chain challenges have not affected aircraft demand or deliveries. Anand Stanley, Airbus Asia-Pacific's President, said that the demand for Airbus aircraft in Asia-Pacific was "continuing to be strong". He made this statement during a Hong Kong briefing on Airbus' 2026-2045 Market Forecast. He said: "Not only do we see an increase in deliveries, but also a willingness to accept deliveries. This is not just in Asia-Pacific. We are also continuing to deliver in the Middle East." Airbus predicts that 42,000 new aircraft will be needed globally in the next 20 year, with 45% of them going to the rapidly growing Asia-Pacific region. Francois Cabaret of Airbus, the head of global forecasting, stated at an event that Chinese carriers have a lot to catch up on when it comes to renewing their fleets. Cabaret reported that before the COVID-19 pandemic Chinese airlines took about 400 'deliverys a year. Since then, the number of deliveries from Airbus Boeing and Chinese planemaker COMAC has fallen to less than half. Airbus data indicates that China, the'single biggest market for commercial jets', will require 8,830 new aircraft in the next 20 years. India will also need 3,480 and the rest of Asia-Pacific 6,880. Airbus' forecast also showed divergent growth in Asia. Airbus has raised its forecast for India's domestic air traffic growth to 9.3%, from 8.9%. China's is cut to 4.7%, from 5.4%.
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Saudi oil prices rise as pipeline problems and fresh attacks raise supply concerns
Oil prices increased on Tuesday, as fears of supply disruptions continued - after attacks on Saudi Arabian infrastructure that left the Kingdom's East West pipeline offline and cast doubt on efforts made to reduce shipping risks in Gulf. Brent crude futures were up $1.37 or 1.3% to $107.05 per barrel by 0406 GMT. Meanwhile, U.S. West Texas Intermediate futures rose $1.53 or 1.51% to $102.92 per barrel. Both benchmarks were up more than 1% the previous session. Iran-backed Houthi in Yemen launched new attacks on Saudi Arabia Monday. Gulf Arab states postponed scheduled discussions with Iran. This fuelled concerns that the Middle East Conflict could expand and disrupt global oil supplies. In retaliation to Saudi airstrikes in Yemen, the Houthis launched a missile attack and used drones on the Khamis Mushait Military Airbase in southern Saudi Arabia. They targeted aircraft hangars as well as radar systems, runways, and ammunition depots. The attacks were attributed by Riyadh to Iranian-backed fighters based in Iraq. They disrupted Saudi Arabia's East-West oil pipeline that allows the country to bypass the blockaded Strait of Hormuz. Tim Waterer is the chief analyst at KCM Trade. He said that oil traders treat every new attack or infrastructure damage as an incremental "supply risk" and are highly alert to any sign of a possible normalisation in the East-West Pipeline or Hormuz flow. The number of commodity vessels transiting the Strait of Hormuz fell to fewer that 10 a day on the weekend from a 10-day daily average of 14. This is a significant drop for a route which carried approximately one-fifth of the global oil supply before the U.S. and Israeli war?on Iran started on February 28. Saudi Arabia may exhaust its oil exports within days, if it does not restore operations on the East West pipeline. This could remove?as high as 4% of the global oil supply, according to Saudi traders and buyers. The world's largest exporter used the pipeline to redirect around 4 million barrels of oil per day -- about 4% of the global supply -- to port of Yanbu on the Red Sea. There is still a lot of uncertainty about the extent of damage and the duration of outage of the East-West Pipeline in Saudi Arabia. Prices will likely remain stable until we 'get clarity,' ING analysts stated in a?"note". Separately on Monday, Volodymyr Zelenskiy stated that Kyiv would only support the U.S. proposal of a ceasefire between Russia and Ukraine on energy sites if Washington could guarantee that Moscow was truly ready to end its conflict with Ukraine.
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The weather is bad on the third day of searching for 129 people missing in Indonesia after a ferry capsizes.
Officials said that rough seas hindered Indonesian rescuers as they searched for 129 missing people after a passenger vessel capsized in the Java Sea three day ago. Officials said that if weather conditions improved, rescuers, who are currently only conducting air and sea surface searches for survivors, would 'launch underwater operations to search for them in the sunken vessel. The Virgo transport 8 ship, which was carrying 243 passengers, went missing early Sunday morning due to bad weather. Six people are confirmed dead and 108 have been rescued from the ship, which was traveling from Surabaya (East Java) to Banjarmasin (South Kalimantan). I Putu Sudayana is the head of Banjarmasin Rescue Agency. He said that on day three, rescuers deployed 1,100 coastguard and navy personnel, as well as 10 helicopters and aircraft, and 17 vessels. "Weather remains the same as yesterday. It is not favorable this morning." "Wave still high, between 1,75 metres and 2.5 metres (5.7-8.2 ft)," he said. Mohammad Syafii told reporters that the bad weather on Monday prevented rescuers from carrying out underwater searches for the missing. He added that rescuers had not found any new bodies or survivors during the search on Monday. Syafii stated that the agency's team would continue to monitor the weather conditions on Tuesday to determine if underwater rescue operations can proceed. Syafii stated that underwater rescue will involve specialists from the Navy and rescue agency capable of diving at depths greater than 100 metres (328 ft), Syafii. He added, "Of Course we still hope to find the victims alive." Syafii added that the navy would also deploy its Canopus vessel, which is equipped with a?underwater drone and a multibeam echoe-sounder for locating potential targets, as well as a remotely controlled vehicle (ROV) to make closer assessments. Divers could be safer in low visibility, with strong currents or around a capsized ship. Syafii stated that underwater operations were difficult because the capsized vessel was unstable. It could move unexpectedly due trapped air and empty compartments. Divers may also experience sudden pressure changes. He said, "We're also looking at?how we can turn the ship back up from its current position." The ship has now reached a depth 30 metres (98 feet) and the authorities are looking at pulling it back to the surface.
India's August goods trade deficit is $26,86 billion
According to a calculation based on export and import statistics released by the government on Tuesday, India's merchandise trade deficit decreased to $26,86 billion in August.
According to a survey, economists expected that the August deficit would be $32 billion, up from a $31.98-billion deficit in the preceding month.
India is looking to diversify export markets. Its trade agreement with Britain has been in force for some time, and an upcoming pact between the EU and India could open up more opportunities for its domestic products.
Government data shows that?imports dropped to $70.67billion from $76.22billion in July. Merchandise imports also fell, to $43.81billion in August, from $44.24billion in the preceding month.
After an attack on the Saudi oil pipeline, and the Houthis' advance in Yemen, new?strikes are testing nerves?in the Middle East.
(source: Reuters)