Western Europe

CPC Blend oil differentials declined on Wednesday following recent drone attacks on Greek-managed oil tankers as they travelled to the Caspian Pipeline Consortium's (CPC) terminal to reload oil. Market participants showed caution and traders confirmed this. On Wednesday, the Russian Foreign Ministry condemned drone attacks on oil tankers near terminals on its 'Black Sea coast' and accused Ukraine for attacking commercial ships. Kazakhstan on Wednesday called on the U.S., Europe and other countries to help secure oil transport after drone attacks on tankers heading for a Black Sea terminal on the Russian coast that handles 1% of the global supply....

Rome will be the next European capital to drastically reduce speed limits. This will force Italians, who are known for their breakneck driving, to slow down and reduce accidents and pollution. From Thursday, the?Eternal City?s?new limit is 30 kph (or 19 mph) in the historic center. This almost halves the previous limit of 50 kph on streets crowded with residents, tourists, and cars. "These roads are a reflection of a city that was built for cars, but no longer exists," Rome’s transport chief Eugenio Patiane told the?daily Corriere di Sera. He added that "lower speeds save lives", citing data that...

Investigators say that an eight-hour radio blackout at Greek airports last week, which forced authorities to clear airspace, was partially due to outdated communication systems. The issue revealed infrastructure gaps in this key tourist destination. A high-ranking government official resigned after the report of the investigative panel on Wednesday. On January 4, air traffic controllers lost touch with the majority of planes, which included dozens headed for Greek airports. Radio frequencies were also replaced by static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The key Telecom Infrastructure Based on Outdated Technology The...

Investigators in a recent report said that the eight-hour radio blackout at Greek airports, which forced authorities to clear airspace in the country and divert dozens of flights to other airports was partly due to an outdated communication system. On January 4, air traffic controllers were unable to contact most planes including dozens of aircraft heading towards Greek airports as the radio frequencies dropped and were replaced with static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The report of a five member investigating committee, commissioned by government, found that the exact cause...

Britain committed Tuesday to a new rail-infrastructure programme for the North of England worth up to 60 billion pounds (45 billion pounds), a region that has been held back by a lack of investment. The government pledged that it would deliver Northern Powerhouse Rail over three phases. Then, a new rail line will run between Liverpool and Manchester via Manchester Airport. Finally, improved connections will be made between Manchester and Yorkshire. The OECD has identified outdated and insufficient transport links as a major factor in the productivity gap between British cities outside of the capital. Rail lines in the north...

A source familiar with the data said that oil and gas condensate production in Kazakhstan fell by 35% between January 1-12 compared to December's average. This was mainly due export restrictions via a Black Sea terminal. The Caspian Pipeline Consortium’s Black Sea terminal in Russia was attacked by a Ukrainian drone on November 29, resulting in a halt to Kazakhstan’s oil exports. Around 80% of Kazakhstan's oil is exported through the terminal. According to CPC, one of three moorings was severely damaged as a result of the attack. This is where U.S. majors Chevron & ExxonMobil are heavily invested. The...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased by almost 40% in December compared to November, reaching about 3,41 million metric tonnes. This was due to higher fuel production, and a'seasonal decline in domestic demand. Sources said that exports of ultra-low sulphur diesel via Primorsk - Russia's largest outlet for diesel shipments - grew 35% on a month-on-month basis to 1.7 millions tons as major suppliers increased output and supplies. Last month, diesel?and gasoline loadings at southern ports Tuapse?and Novorossiysk increased by?almost 60 percent compared to November. This was due to local refineries...

Oleksiy Kuleba, Ukraine's deputy prime minister, said that Russian drones attacked two foreign-flagged ships on Monday. This was the second attack on Black Sea shipping in four days. Kuleba stated that the vessels were flying the flags of Panama and San Marino. He also said one person was injured. He added that the San Marino flagged vessel had just been loaded with corn and was on its way to Panama to pick up vegetable oil. Kuleba posted on Telegram that "this is further proof that Russia is deliberately targeting civilian vessels, international commerce, and maritime security." Sources familiar with the...

Four tankers, the majority of which were loaded, left Venezuela early in January in "dark mode" - that is, with their transponders turned off despite a "strict" U.S. blockade. According to the state company PDVSA, and the monitoring service TankerTrackers.com, the blockade is now in place. Last month, a flotilla consisting of at least three empty ships and a dozen vessels with cargo left Venezuelan waters. This was in apparent defiance to an embargo that President Donald Trump imposed on Venezuela since mid-December. The U.S. seized the?supertanker M Sophia with a Panamanian flag this week as it returned to the...

Greece offered farmers full compensation for any future losses in production and cheaper fuel on Wednesday, as a desperate attempt to persuade them that the protests which have affected travel and some businesses should stop. Since late last year, farmers have been stationing thousands of tractors across Greece to protest high production and payment delays. The centre-right Prime Minister KyriakosMitsotakis has called on farmers to stop the "blockades" and enter into talks. Farmers have threatened to take further action if their demands are not met, including minimum prices for their products. The Greek Ministers have admitted that payments began a...

On January 13, a U.S. House of Representatives 'committee' will hold a hearing to discuss legislation that aims to make it easier for autonomous vehicles without the need for human control. Congress has been split for years on whether or not to pass legislation to overcome deployment obstacles. The National Highway Traffic Safety Administration is not granting exemption requests by major automakers, but has maintained safety regulations. The current law allows NHTSA?to exempt up to 2,500 vehicles per automaker annually if the company can prove that it would be safe. The Teamsters union and consumer groups have expressed concern about...

Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year marked by high-stakes politics and ever bigger mergers. Goldman Sachs' No. 1 ranking was aided by the rise of $10 billion deals, which amounted to $1.5 trillion in total last year, a more than two-fold increase from the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other bank. Its total volume of advised deals was $1.48 trillion. This was the...

PlusAI, the self-driving vehicle startup, announced on Monday that it would launch Southern Europe's very first program to test heavy-duty autonomous vehicles. It will also expand its partnership with Iveco Group and brand IVECO. Two IVECO S-Way truck equipped with PlusAI’s Level 4 autonomous driving.system will be tested on a 300-km route between.Madrid.and Zaragoza in 2026. A safety operator will also be onboard. Trials will be conducted with Spanish logistics operator Sese, and the regional government of Aragon. PlusAI in Silicon Valley, with offices in Europe and America, has been working with Iveco on joint research and tests for many...

Ziad El Chaar, CEO of Saudi real estate developer Dar Global, announced on Sunday that two Trump-branded luxury projects will be launched in Riyadh (Saudi Arabia) and Jeddah (Jordan). Chaar said that the projects include the Trump National Golf Course in Riyadh and the Trump International Hotel at Diriyah. This is a massive project located on the western edge of the Saudi capital. Chaar said that a mixed-use development called Trump Plaza is planned for Jeddah. Chaar stated that the projects were in line with Saudi Arabia's Vision 2030, which aims to diversify its economy and move away from oil....

Senalia, a grain export terminal operator, expects volumes to double in 2025/26 compared to last year due to a rebound in French harvest production and a brisk barley demand. Rouen, on the Seine River in Normandy, is France's main grain export hub. Rain-stricken 2024 reduced its export surplus, and port terminals were idle for part the season. Senalia, the cooperative-owned cereal exporter, has forecast that Senalia will load 3.8 millions metric tons in the current July-June period, up from just 1.8 million in 2020/25. This is exactly what it did two years ago. He said that 1.7 million tonnes of...

Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the?marketshare and top spot in an year marked by high stakes political dramas and ever larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, of which there were 68 in the last year totaling $1.5 trillion - more than twice as much as the previous year. According to LSEG data, Goldman has the No. 1 ranking. The firm was involved in 38 of these 'deals', more than any other investment banking firm, and the total value of the deals it...

Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year that was marked by high stakes political dramas and ever-larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, which totaled $1.5 trillion last year, or more than double the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other investment bank. Total volume of advised deals was $1.48 trillion. This was the most active period...

Snowfall in the Netherlands disrupted air and train?traffic on Monday. Hundreds of flights had to be canceled and trains around Amsterdam were at a standstill. ANP, a news agency, reported that Schiphol Airport, Amsterdam, which is one of Europe's busiest hubs cancelled nearly 500 flights Monday morning. The airport was closed to all incoming traffic from 1200 GMT until then due to the snow. ANP reported that planes heading for Amsterdam were diverted to another airport. Schiphol was unable to be reached immediately for further comments. Snow and freezing temperatures had already forced the airport to cancel hundreds of flights...

Equity investors looking for a smooth ride through 2026 may want to consider increasing their exposure beyond the artificial intelligence euphoria. Opportunities could be hidden in plain sight. Investors should be cautious. The valuations of U.S. equity are stretched. The Shiller price-earnings for the S&P 500 is above 40, which is very close to the levels during the dot-com boom in the 1990s. Markets have become 'highly concentrated. Goldman Sachs analysis shows that the five largest U.S. tech companies, Nvidia Apple Alphabet Microsoft and Amazon, have a combined value greater than?the Euro STOXX?50. This includes Britain, India Japan and Canada...

BNP Paribas has been in exclusive negotiations with Mercedes-Benz in order to acquire its car-leasing company Athlon. The French bank announced this on Thursday. BNP said that the acquisition would help strengthen its position on the European vehicle lease market, through its Arval division, by adding about 400,000 vehicles under full-service financing to its fleet. BNP's Arval division currently has a total fleet of 1.9 millions vehicles. In an interview, BNP Chief Operating Officer Thierry Laborde stated that this transaction was very important. It would allow the group to become the European leader for long-term rental cars. BNP Paribas will...

The federal government of Brazil plans to auction off the massive Tecon '10 container terminal at Santos Port in the first half of March, said Minister of Ports and airports Silvio Costa Filho on Friday. He said that more than 10 bidders have expressed interest in the auction, including the Philippines-based ICTSI, JBS, JSL and unnamed 'Arab investors. The Minister said that the minimum bid price will be below?6.4 billion (about $1.19 billion), the amount of money the winning bidder must invest to build and run the terminal. Roberto Lopes confirmed that the Rio Brasil Terminal, controlled by ICTSI will...

Argentina, a global food supplier, is planning to boost its grain and mineral exports through privatization, and a modernization program of its railway network. Industry leaders claim that this will reduce freight costs in regions located far from ports by half. The first tender will be for the Belgrano Cargas, which runs the three biggest freight train lines in the country. The initiative, which will be launched in early 2019, could increase production of global commodities like soybeans and corn. It also includes copper and lithium. The project could also help transport sand from Vaca Muerta in Argentina's Southwest. The...

VTB CEO Andrei Kostin said in an interview that Russian banks were willing to restructure some Russian Railways' debt, as long as their central bank did not increase the reserve requirements on these loans. The Russian government is examining different options to support Russian Railways. This company, the largest commercial employer in Russia, has accumulated a debt of 4 trillion roubles ($50.8 billion), according to a report on Nov. 25, VTB is the second largest Russian bank and Russian Railways' largest creditor. The bank's top managers participate in weekly government discussions on how to handle the debt. These meetings are...

VTB CEO Andrei Kostin said in an interview that Russian banks were willing to restructure Russian Railways' debt, as long as their central bank did not increase the reserve requirements on these loans. The Russian government is examining different options to support Russian Railways. This company, which is the largest employer in the country, has accumulated a debt of 4 trillion roubles ($50.8 billion), according to a report on Nov. 25, VTB is the second largest Russian bank and Russian Railways' largest creditor. The bank's top managers participate in weekly government discussions on how to handle the debt. These meetings...