Tag Archives: Transportation (TRBC level 2)

Australian stocks extended gains as commodity-exposed companies shone | Instant News

April 7 (Reuters) – Australian stocks on Wednesday extended gains for a fourth session, driven by commodity-exposed stocks to strong crude oil and metals prices and as investors bet on improving prospects for a global economic recovery.

The S & P / ASX 200 index rose 0.5% to 6,920.2 points in early trading, hitting a new high since mid-February. Elsewhere in Asia, Nikkei futures were up 0.4%.

On Tuesday, the International Monetary Fund raised its forecast for global economic growth to 6% this year, a level not seen since the 1970s.

Strong economic data from China and the United States lifted oil prices by 1%, while a weaker dollar and lower US Treasury yields boosted bullion.

Meanwhile copper prices rose on supply concerns after a major Chilean producer closed its borders following a spike in coronavirus infections.

Strong commodities lifted sentiment despite the pullback on Wall Street overnight. All three major US stock indexes closed in the red, retreating from previous session record highs, while Treasury yields edged down.

The ASX 300 metals and mining index was up 0.67%, while the gold sub-index was up 1%, led by Resolute Mining Ltd. which was up 4.4%.

Tech shares rose 1.8%, led by EML Payments Ltd, up 10.7%, followed by NEXTDC Ltd which rose 3.6%.

In New Zealand, the benchmark S & P / NZX 50 index was up 0.68% to 12,484.3.

The highest percentage gainer in the benchmark index was Contact Energy Ltd, up 2.8%, followed by Pushpay Holdings Ltd and Air New Zealand Ltd which rose 2.5% and 1.9%, respectively.

Reporting by Shruti Sonal in Bengaluru, Editing by Sherry Jacob-Phillips


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Queensland Australia recorded one new localized COVID-19 case | Instant News

MELBOURNE, April 3 (Reuters) – The Australian state of Queensland, epicenter of a small coronavirus outbreak recently, recorded a new infection on Saturday, health officials said, but the risk to the public was minimal as the victim had been isolated for days.

“We never know who the person will be transmitting the disease, but here we have one person who has been quarantined,” said Jeannette Young, chief medical officer in the northeastern state.

“So that’s ideal.”

Authorities have closed a coronavirus ward at a hospital in the state capital Brisbane to investigate how two of its patients were infected during the outbreak that spread in two separate groups, Young added.

The group’s total number of infections has risen to 19, but authorities held back the spread this week to lift Thursday’s snap three-day lockdown in the city of 2 million.

Health authorities met on Saturday to consider a possible link between the AstraZeneca vaccine and a 44-year-old man who was hospitalized in Melbourne for a blood clot.

The Therapeutic Goods Administration (TGA) regulator and panel, the Australian Technical Advisory Group on Immunization (ATAGI), are also set to discuss further advice on the AstraZeneca vaccine.

Australia has been very successful in curbing the virus with rapid lockdowns, border closings and rapid tracking, reporting just under 29,300 infections and 909 deaths.

He had trouble launching a vaccination program, however, missing the March target of about 3.3 million doses as the state and federal government argued over the error.

(Global vaccination tracker: here)

(Interactive graphic tracking of the global spread of the coronavirus: here)

Reporting by Lidia Kelly; Edited by Clarence Fernandez


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Exclusive: Italy is in talks to cut spending on Open Fiber -sources JV broadband control | Instant News

ROME / MILAN (Reuters) – Italy is considering a cheaper route to win control of broadband operator Open Fiber, three sources with knowledge of the matter said on Wednesday, as it looks set to play a guiding role to improve connectivity across the country.

Open Fiber is jointly owned by Italy’s largest utility, Enel, and state lender Cassa Depositi e Prestiti (CDP).

Enel has been in talks to sell up to 50% of the fiber infrastructure group to fund Macquarie Australia for 2.65 billion euros ($ 3.11 billion) since last year and a deal is expected to be reached in June.

The original scheme envisioned CDP buying 10% of Open Fiber from Enel and negotiating governance rights with Macquarie to secure control.

But disagreement over the value of Open Fiber has prompted the two sides to discuss alternative routes, the sources said.

Under the new scheme under discussion, Enel will sell all or part of its 50% stake to Macquarie, after which CDP will increase its stake to 51% through a capital increase, the sources said.

CDP and Macquarie declined to comment. Enel could not be reached for comment.

In this way CDP could save hundreds of millions of euros in winning control of the joint venture.

One of the sources said the talks were at an advanced stage, adding that Enel could maintain a small stake in Open Fiber.

The Italian government has previously championed CDP’s bid to win control of Open Fiber as part of a broader plan to combine it with the former landline assets of the Italian Telecom (TIM) telephony monopoly.

But ministers from Mario Draghi’s new government have cast doubt on the project, saying Rome is reviewing its options.

TIM, of which CDP is the second-largest shareholder behind French media company Vivendi, has repeatedly said it will not agree to own less than 50% of any single network company – something that could spark regulatory issues.

A fourth source said the industry ministry is studying other options including a co-investment scheme to allow operators to build their networks in some areas and reach commercial agreements in others.

The Draghi government has put digital infrastructure at the heart of its agenda and is relying on a grant from the European Recovery Fund to accelerate fiber-optic rollout.

Draghi has not said whether his administration intends to implement an integrated network project but the Ministry of Finance has meanwhile pressed for plans to ensure CDP has control over Open Fiber, one of the sources said.

Reporting by Giuseppe Fonte in Rome, and Elvira Pollina and Stephen Jewkes in Milan; Edited by Matthew Lewis


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Italy says talks with the EU on Alitalia have stalled, it needs a new plan | Instant News

FILE PHOTO: An Alitalia plane seen before taking off from Leonardo da Vinci-Fiumicino Airport in Rome, Italy, June 21, 2018. REUTERS / Stefano Rellandini

ROME (Reuters) – Italian Industry Minister Giancarlo Giorgetti said on Tuesday that negotiations with the European Commission over how to relaunch the ailing aircraft carrier Alitalia had stalled and the government needed a new plan to keep it in business.

Brussels and Rome have been in talks since earlier this year on Italy’s plans to restructure airlines through the launch of a new state-owned company called ITA.

“Alitalia’s situation is assessed in connection with the stalled talks with the European Commission,” Giorgetti said in a statement after meeting with Alitalia’s special commissioner.

“Therefore, we believe there needs to be a new action plan … to allow the company to continue operating,” added Giorgetti, without saying what the plan was.

Flights to and from Italy have shrunk due to COVID-19, but Rome hopes for a timely pick-up for the summer tourist season so ITA can get off to a solid start.

To keep the prospect alive and continue to pay Alitalia staff, the government could push the sale of planes and other assets to the ITA while trying to break the deadlock with Brussels, two sources with knowledge of the matter told Reuters.

The main stumbling block in talks between Rome and Brussels is the EU’s request for the new ITA firm to hand over a large number of slots held by Alitalia at Milan’s Linate airport, two other sources told Reuters last week.

Alitalia operated more than 50% of Linate slots before the coronavirus pandemic hit, and ITA has so far refused to accept any major reductions.


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Australian tourism operators tired of COVID-19 are calculating the flood costs | Instant News

PORT MACQUARIE, Australia (Reuters) – For Carol Curry, manager of Marina Holiday Park, 330 km (205 miles) north of Sydney, Easter long weekends and school holidays will be a big end to the tourist season after a year of disasters. by COVID-19 restrictions.

Instead, he slipped through the mud to reach a cabin that was destroyed by the flooding after heavy rains hit Australia’s east coast earlier this month and tried to contact guests to cancel bookings.

“The park is collapsing and so are all our reservation books and computers and stuff like that, so it’s a bit of a challenge,” Curry told Reuters at the waterfront park he’s been caring for five years.

“We actually had guests last night to check-in, so unfortunately they have to go elsewhere.”

Tourism is a major contributor to Australia’s economy, generating around A $ 61 billion ($ 47 billion) in 2018/19 and employing around 5% of the country’s workforce, according to Tourism Australia.

The sector was hit hard when Australia effectively closed its international borders early last year to protect against COVID-19, while a series of internal border closings to contain the outbreak added to the pain.

With the easing of internal restrictions earlier this year, operators are groomed for a massive holiday period ahead of the slower winter months when devastating east coast floods dash their hopes.

Near the Stoney Aqua Park, which offers camping and water skiing around the now largely destroyed hurdles, co-owner Anissa Manton said she faced significant financial losses.

“We are completely booked,” he said. “We are looking forward to a great season.”

Manton said he had been told his insurance policy would not cover the flood damage, and the park was now facing six months of cleaning.

Meanwhile, the suffering for tourism looks set to continue, with the new COVID-19 outbreak in the state of north Queensland, a popular holiday destination, postponing plans for the Easter holiday for thousands of visitors.

($ 1 = 1.3060 Australian dollars)

Reporting by Stefica Nicol Bikes; written by Colin Packham; editing by Richard Pullin


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