As coronavirus deaths spike

Peru slammed by oxygen shortage

Lima - The death toll in Peru continued to mount on Friday as a relentless second wave of the coronavirus left many hospitals short of oxygen for critical patients even as daily infections continued to climb. In Lima, long lines snake down city blocks as friends and relatives seek to snatch up the last remaining bottled oxygen available in the capital

The partnership

Fincantieri and the Italian Shipping Academy to train together officers on cybersecurity

Trieste - Fincantieri, through its subsidiary E-phors, specialized in providing cybersecurity services and products, has recently provided a pivotal training course in partnership with the Italian Shipping Academy, aimed at introducing deck officers to the basics of cybersecurity. The three-day training course is part of the Academy’s project – funded by the European Commission “Common Maritime Education Standards in the West Mediterranean”

In Q1

Recovery in global trade to stall again

Geneva - A recovery in global trade is expected to slow again in the first quarter of 2021 as the coronavirus pandemic keeps disrupting the travel industry after world trade contracted 9% in 2020, a U.N. report said on Wednesday. After lockdowns caused trade to shrink 15% in the first half of 2020, it rebounded in the second half, with global trade in goods up about 8% in the fourth quarter compared with the third, UNCTAD said.

But +7.6% gross volume growth in Q4

DP World reports flat growth for FY2020

Dubai - DP World Limited handled 19.1 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 4Q2020, with gross container volumes increasing by 7.6% year-on-year on a reported basis and up 6.5% on a like-for-like basis. On a FY2020 basis, DP World handled 71.2 million TEU, flat year-on-year and up 0.2% on a like-for-like basis

Rush for renewable energy hurting rural and indigenous communities disproportionately

Indigenous people "under threat" from Asia clean energy push

Ban Khu - Muhammad Lamoh had no inkling that his small village of Ban Khu in southern Thailand would be key to the nation's renewable energy goals, until local authorities called a community meeting to inform them of a plan to build a biomass plant. The 25 megawatt plant began operating in March last year, despite villagers' concerns about its effects on their health

As emissions pressure rises

BA invests in sustainable aviation fuel

London - British Airways has invested in a sustainable aviation fuel company, finding resources to back its decarbonisation plans despite the coronavirus pandemic, as pressure grows on airlines to cut emissions when travel restarts in earnest. British Airways, owned by IAG, said on Tuesday it would invest in LanzaJet, a company that is building a plant to produce sustainable aviation fuel (SAF) on a commercial scale in Georgia in the United States

As energy transition speeds up

State oil firms risk wasting $400 bln

London - National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental organisation said on Tuesday. In a new report called Risky Bet, the Natural Resource Governance Institute (NRGI) estimated that NOCs could invest $1.9 trillion over the next ten years

U.N. report

North Korea developed nuclear, missile programs in 2020

New York - North Korea maintained and developed its nuclear and ballistic missile programs throughout 2020 in violation of international sanctions, helping fund them with some $300 million stolen through cyber hacks, according to a confidential United Nations report seen by Reuters on Monday. The report by independent sanctions monitors said Pyongyang "produced fissile material, maintained nuclear facilities and upgraded its ballistic missile infrastructure"

Figures released by the Federal Statistics Office showed

Chinese demand helps German manufacturers weather COVID-19 pandemic

Berlin - Germany's industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers in Europe's largest economy weather the COVID-19 pandemic. Industrial output was flat on the month after an upwardly revised increase of 1.5% in the previous month

As election row escalates

Somalia's opposition cease recognising president

Mogadishu - An alliance of Somali opposition parties proposed the creation of a national council of lawmakers, opposition leaders and civil society to govern the war-ravaged Horn of Africa nation after the president's term expired on Monday with no clear plan for succession. The power vacuum and divisions between political leaders was a boost to the al Qaeda-linked al Shabaab insurgency, a Somali security analyst warned

Pictures

The port of Beirut, six months after the devastating explosion / GALLERY

Officials have said the explosion was caused by chemicals that went up in flames after being stored at the port in poor conditions for years. Combi Lift signed the contract to remove flammable and highly reactive chemicals from containers at the port, some of them in storage since 2009.

Fincantieri

Vard Marine wins design contract for new Chilean Navy ship

Trieste - Chile’s ASMAR Shipbuilding & Ship Repair Company has awarded Vancouver, B.C., based Vard Marine (wholly owned by Vard AS, Fincantieri Group) a new contract for the design of an Amphibious and Military Sea Transport Ship for the Chilean Navy’s Escotillón IV Program. The multi-role vessels will be constructed at the ASMAR shipyard in Talcahuano, Chile

The infrastructure

Pipe laying for Nord Stream 2 restarts in Danish waters

Moscow - The consortium behind the Russia-led Nord Stream 2 natural gas pipeline has resumed laying pipes in the waters of Denmark, it said on Saturday, despite mounting pressure on the project from Washington. Construction of the link, which would double the capacity of the existing Nord Stream pipeline to 110 billion cubic metres of gas per year, was suspended in December 2019 due to the threat of sanctions from Washington

Use of EU funds without reforms won't be enough

Bank of Italy says country needs cohesion to grow and cut debt

Milan - Italy's central bank called on Saturday for cohesion as the country battles a government crisis, saying it was imperative to revive growth and reduce a public debt that the coronavirus pandemic has pushed to levels last seen after World War One. Italy's debt is expected to approach 160% of domestic output at the end of this year

As farm protests widen

Tractors, trucks block India's roads

Kundli - Thousands of farmers across India blocked roads on Saturday with makeshift tents, tractors, trucks and boulders to pressure the government to roll back agricultural reforms that have triggered months-long protests. While the initial protests were started by rice and wheat growers from northern India who camped out on the outskirts of New Delhi, demonstrations have spread across the country

FY net profit 113 mln euros vs 5.7 bln loss in 2019

Investment banking boom lands Deutsche Bank first profit since 2014

Frankfurt - Deutsche Bank eked out a small annual profit in 2020, its first since 2014, saying on Thursday it had made strong gains at its investment banking division. Over the past 10 years, Deutsche has lost a total 8.2 billion euros ($9.8 billion) and the return to profit marks an important milestone for Chief Executive Christian Sewing as analysts had been predicting another loss in 2020

Exports to surge amid global shortage

India lines up deepwater port for rice

Mumbai - India's southern state of Andhra Pradesh will use a deepwater port to export rice for the first time in decades amid a global shortage of the grain, according to a government order seen by Reuters, which could raise shipments this year by a fifth. The order, issued late on Wednesday, allows Kakinada Deep Water Port to handle rice until more capacity is created at the adjoining Anchorage Port. Congestion at the Kakinada Anchorage Port