DIRS.INFO The most relevant business & tech news

☆ Safran posts strong sales but sees supply chain risks
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

"The (pandemic) demand crisis is well and truly behind us," Chief Executive Olivier Andries said after reporting first-quarter revenues that rose 24.7% on an underlying basis to 5.266 billion euros ($5.78 billion). Safran's core propulsion revenues rose by 34.9%, on an organic basis, to 2.714 billion euros. Safran reaffirmed its 2023 full-year forecasts for revenues of at least 23 billion euros, recurring operating income around 3 billion euros and free cashflow of at least 2.5 billion. But the engine maker said the main risk factor remained supply chains, led by shortages of materials and labour. Andries said all metals were on the company's watch list for possible supply disruptions, notably steel.

☆ French company Safran keeps 2023 outlook as Q1 sales rise
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 26 (Reuters) - France's Safran (SAF.PA) kept its 2023 financial outlook unchanged as it reported sharp growth in quarterly revenues, buoyed by a swift recovery in air traffic demand. Safran, which provides engines for Boeing (BA.N) and Airbus (AIR.PA) narrow-body jets through its CFM International joint venture with General Electric (GE.N), said first-quarter revenues rose 24.7% on an organic basis to 5.266 billion euros ($5.78 billion). Core propulsion revenues rose by 34.9%, on an organic basis, to 2.714 billion euros, the company said on Wednesday. Safran reaffirmed its 2023 full-year financial outlook, namely for revenues of at least 23 billion euros, recurring operating income of around 3 billion euros and a free cash flow of at least 2.5 billion euros. The engine industry and other parts of the aerospace supply chain have, however, been hit by labour and parts shortages.

CNN —A once powerful member of the former Sudanese government wanted by the International Criminal Court (ICC) for war crimes and crimes against humanity has been freed from prison in the capital Khartoum. Prisoners of Kober prison were released by authorities after inmates protested the lack of food and water by burning two cars inside the prison grounds, two Sudanese police sources told CNN. Unconfirmed reports claimed the former President al-Bashir was among the prisoners released from Kober prison. Sudan’s then-President, Omar al-Bashir, was charged with war crimes and crimes against humanity by the ICC, including genocide, related to the Darfur conflict in 2009. He was ousted in a military coup in April 2019 following a lengthy popular uprising and jailed in Khartoum.

CNN —The violence that has exploded in Sudan as the country’s two top generals grapple for power has unfolded at a terrifying, breakneck speed. Hemedti uses this discourse as a bloody shirt to maintain his influence and military forces for future use,” Fareid said. Marwan Ali/APFrom a subclan of the Mahariya Rizeigat tribe, nomadic people that herded camels in Darfur, Hemedti got his start as a commander of the Janjaweed. Unlike Sudan’s former dictator, Hemedti has not faced charges from the International Criminal Court. The general’s shared sense of impunity was underlined in October 2021, when they staged a coup, arresting Hamdok and his cabinet.

☆ Americans stuck in Sudan to make ‘life or death decisions’ express anger at US government
▼ + stars: | 2023-04-26 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +9 min

US officials have said they are in “close communication” with US citizens and “actively facilitating” their departure from Sudan. Those who spoke to CNN also pushed back on the argument made by US officials that they had warned Americans not to be in Sudan. Other Americans are attempting to flee Sudan through Egypt, but those who spoke to CNN warned of a growing humanitarian catastrophe at that border. After a 36-hour journey, his parents had not been able to cross the border into Egypt, Imad told CNN Wednesday evening. Imad said when he contacted the State Department, “they essentially said that there are other cases ahead of us that are similar.

☆ EU agrees to decarbonize air travel with the 'world's largest green fuels mandate for aviation'
▼ + stars: | 2023-04-26 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

EU officials described the agreement as a "turning point" and "another important step" for European aviation, saying the measures were designed to reduce reliance on fossil fuel imports and improve energy security. European Union negotiators secured a deal to decarbonize the air travel sector, seeking to slash heat-trapping emissions by stimulating the region's green aviation fuel market. The new rules are set to require aviation fuel suppliers to supply a minimum share of sustainable aviation fuels — or SAF — at EU airports, starting at 2% of overall fuel supplied by 2025. "Fuel suppliers at EU airports must provide an increasing share of sustainable aviation fuels and aircraft operators increase their use," Frans Timmermans, executive vice-president for the European Green Deal, said in a statement. If aviation is to align itself with the Paris climate accord and curb global heating, the industry will need to move away from fossil fuels completely in the long term.

☆ Sudan's Bashir moved to military hospital before fighting, sources say
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

DUBAI, April 26 (Reuters) - Sudan's toppled leader Omar al-Bashir was moved from Kober prison to a military hospital in the Sudanese capital before heavy fighting broke out there on April 15, two sources at the hospital said. Both Bashir and Haroun are wanted by the International Criminal Court over alleged atrocities in Darfur. Fighting flared anew in Sudan late on Tuesday despite a ceasefire declaration by the warring factions as more people fled Khartoum in the chaos. But he said that neither party showed readiness to "seriously negotiate, suggesting that both think that securing a military victory over the other is possible." Several more flights were expected later on Wednesday to evacuate the remaining Turkish citizens who had crossed over to Ethiopia from Sudan.

☆ A 'tinderbox' with no easy off-ramps: What the Sudan conflict means for the world
▼ + stars: | 2023-04-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +10 min

Smoke rises during clashes between the Sudanese Armed Forces and the paramilitary Rapid Support Forces (RSF) in Khartoum, Sudan on April 19, 2023. "We urge the Sudanese army to respect the ceasefire and its conditions to alleviate the suffering of innocent civilians. - | Afp | Getty ImagesNotorious Russian mercenary force Wagner Group has been linked to various commercial and military operations in Sudan. Italian citizens are boarded on an Italian Air Force C130 aircraft during their evacuation from Khartoum, Sudan, in this undated photo obtained by Reuters on April 24, 2023. "The RSF is likely to target oil infrastructure linking South Sudan with Khartoum and the export terminal at Port Sudan," Verisk Maplecroft's Hunter suggested.

The proposal aims to increase both demand for and supply of sustainable aviation fuels (SAF), which have net-zero CO2 emissions or low carbon emissions. The proposal sets binding targets for aviation fuel suppliers to ensure that all fuel made available to aircraft operators at EU airports contains a minimum share of SAFs from 2025, with the target increasing to 2050. In the nearer term, sustainable fuel is one of the few options to reduce air travel's carbon footprint. Airlines are set to receive around 2 billion euros in funding from the EU carbon market to help them switch to SAF. Biofuels can count towards the main SAF targets, so long as they comply with the EU's biomass sustainability criteria.

☆ Sudan fighting resurges as UN envoy says ceasefire partly holding
▼ + stars: | 2023-04-25 | by ( Khalid Abdelaziz | ) www.reuters.com time to read: +6 min

The Sudan Armed Forces (SAF) and paramilitary Rapid Support Forces (RSF) agreed to a 72-hour ceasefire beginning on Tuesday after negotiations mediated by the U.S. and Saudi Arabia. U.N. special envoy on Sudan Volker Perthes told the U.N. Security Council on Tuesday that the ceasefire "seems to be holding in some parts so far." The fighting has paralysed hospitals and other essential services, and left many people stranded in their homes with dwindling supplies of food and water. The U.N. humanitarian office (OCHA) said shortages of food, water, medicines and fuel were becoming "extremely acute", prices were surging and it had cut back operations for safety reasons. Since the fighting erupted, tens of thousands have left for neighbouring Chad, Egypt, Ethiopia and South Sudan.

☆ Sudan conflict: 'Am I going to get killed in front of my family?' Stories of terror on the risky escape route
▼ + stars: | 2023-04-25 | by ( Sana Noor Haq Catherine Nicholls Celine Alkhaldi Magdy Samaan | Sana Noor Haq | Catherine Nicholls | ) edition.cnn.com time to read: +9 min

CNN —Safa Babikir was sleeping in her aunt’s house in Khartoum when she was woken by gunfire. Then, she says, “the screams started.”Desperate to escape the fierce fighting in Sudan’s capital, Babikir soon made a decision to flee the country on a treacherous bus journey to neighboring Egypt. In Sudan, bus drivers are avoiding areas under RSF control, according to al-Idrisi, as they try to avoid skirmishes between the armed forces and the paramilitary group. “The darkest thought I had was, am I going to get killed in front of my family? “Ultimately they were able to escape Khartoum; which seems to be the ultimate mission for a lot of people,” Imad said.

CNN —National Security Council spokesperson John Kirby defended the United States’ decision not to evacuate US citizens from Sudan after US forces conducted a military operation extracting government personnel from its embassy in Khartoum Saturday. Internet connectivity has also been unreliable, leaving family members and friends outside of Sudan to worry if their loved ones are safe. Kirby said Monday that the violence in Sudan “is increasing,” and urged Americans remaining in the country to shelter in place. Officials told congressional staffers last week that there could be an estimated 16,000 American citizens in Sudan, most of whom are dual nationals. Kirby echoed this on Monday and suggested that many of those dual nationals “don’t want to leave” the country.

CNN —Canada has told its citizens in Sudan that evacuations are “not possible at this time” due to the closure of airspace amid fierce fighting between rival forces. Earlier on Saturday, Saudi Arabia said it had evacuated Canadian nationals from Sudan to Saudi Arabia. However, the Saudi Ministry of Foreign Affairs did not provide the number of Canadians it had helped to evacuate. There are 1,596 Canadians signed up to the Registration of Canadians Abroad Service in Sudan but this number provides only an estimate of Canadians in Sudan as registration is voluntary. Canadian citizens can register through the Registration of Canadians Abroad service on the Travel.gc.ca site.

CNN —The two rival forces battling for control in Sudan have both said they are ready to help evacuate foreign nationals, raising hopes international powers could soon rescue stranded citizens after a week of fighting. On Friday, the Rapid Support Forces (RSF) said they were ready to partially reopen all airports in Sudan to air traffic to allow countries to evacuate their nationals. Fierce fighting broke out in Sudan last Saturday between the Sudan Armed Forces (SAF), commanded by Sudan’s military leader General Abdel Fattah Al-Burhan and the paramilitary RSF, led by Mohamed Hamdan Dagalo. The State Department does not keep official counts of US citizens in foreign countries and Americans are not required to register when they go abroad. US State Department officials told staffers estimated 16,000 American citizens in Sudan, most of whom are dual nationals.

The decision to evacuate the American personnel comes after a week of heavy fighting between rival military factions – the Sudanese Armed Forces, or SAF, and the Rapid Support Forces, or RSF – which has left hundreds dead and thousands wounded. The US military deployed “additional capabilities” near Sudan in recent days to prepare for a potential evacuation of the US Embassy as American officials continued to monitor the volatile situation on the ground. Despite statements from both sides that they had agreed to such a ceasefire, fighting has continued. CNN cannot corroborate the RSF’s claims that they helped with the evacuation. Officials told staffers Wednesday that there could be an estimated 16,000 American citizens in Sudan, most of whom are dual nationals.

☆ Sudan's paramilitary announces 72-hour ceasefire ahead of Eid al-Fitr
▼ + stars: | 2023-04-21 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

The paramilitary Rapid Support Forces (RSF) announced the ceasefire in a statement on Twitter early Friday morning local time. The ceasefire is due to begin at 6 a.m., the statement added. The ceasefire comes just ahead of the Muslim holiday of Eid al-Fitr, which marks the end of the Islamic holy month of Ramadan. “The truce coincides with the blessed Eid al-Fitr … to open humanitarian corridors to evacuate citizens and give them the opportunity to greet their families,” the RSF said. The rival Sudan Armed Forces (SAF) have yet to comment on the announcement.

CNN —The situation on the ground in Sudan on Wednesday remained too volatile to get diplomatic staff from the US Embassy in Khartoum out of the country, a top State Department official told congressional staffers. Another US official told CNN that State Department officials are in contact with Pentagon officials in Djibouti where the US has military assets to determine the best evacuation operation. Officials told staffers Wednesday that there are an estimated 16,000 American citizens in Sudan, most of whom are dual nationals, and roughly 500 had contacted the US Embassy since the outbreak of fighting. “Within Sudan, the Department of Defense’s mission is primarily focused on providing security at the US Embassy. While operational security prevents us from going into detail, the Department of Defense, through the Marine Corps Embassy Security Group, provides ongoing security for diplomatic facilities worldwide,” he said.

Stringer/ReutersThe RSF denied those reports, telling CNN in a statement that it “will never assault any UN staff or employees. Meanwhile, tense efforts to establish a ceasefire have ramped up, with the UN calling for rival factions to end their hostilities. Satellite imagery of the smoke plume at Khartoum International Airport on Sunday. The Sudanese Armed Forces later issued conflicting statements on a proposed 24-hour ceasefire, intended to go into effect later on Tuesday. Both sides had previously agreed to a three-hour ceasefire on Sunday, and again on Monday, with fighting resuming afterward, Perthes said.

☆ Opinion: How Sudan went from revolution to civil war
▼ + stars: | 2023-04-17 | by ( Justin Lynch | ) edition.cnn.com time to read: +8 min

CNN —Four years ago, almost to the day, the people of Sudan were celebrating a revolution after overthrowing longtime dictator Omar al-Bashir. On one side are the Sudanese Armed Forces (SAF), led by Gen. Abdel Fattah al-Burhan. On the other side are the Rapid Support Forces (RSF), a paramilitary group led by Mohamed Hamdan Dagalo, known as Hemeti. Hamdok found that the legacy of 30 years of dictatorship meant that Sudan’s political and economic models were dilapidated. The lesson from Sudan is that a revolution is only the start of change, not the end.

Companies Shell PLC FollowSINGAPORE, March 30 (Reuters) - Shell has decided not to go ahead with two projects it was studying to produce biofuels and base oils in Singapore, a company spokesperson said on Thursday. "We can confirm that we are stopping the exploration of two projects – a biofuels unit and a Group II base oil plant in Singapore," the company told Reuters in an emailed statement. "We will continue supplying base oil and lubricants, as well as biofuels, to our customers in Singapore and the region." Shell is building a 820,000 tpy biofuels plant in Rotterdam, the Netherlands, and had targeted to make about 2 million tpy of SAF by 2025. Reporting by Trixie Yap and Florence Tan; Editing by Jan Harvey and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Repsol says the plant, which transforms used cooking oil into so-called sustainable aviation fuel (SAF), has attracted plenty of customers. But it is concerned Europe's investment environment will complicate the industry's efforts to take off. "Europe needs to step up and throw its weight behind a domestic SAF industry to ensure it does not fall behind." That's a bit under 1% of global aviation fuel demand," said Jonathan Wood, Neste's vice-president of renewable aviation. "America's programme of both federal and state incentives for SAF production is the mark of global leadership on the net-zero transition," IAG told Reuters.

March 24 (Reuters) - Financial sector headwinds are creating fresh openings for private equity investments in aerospace, as suppliers' need for capital to meet soaring demand for planes and parts risks further turbulence, executives said. He said he would not oppose a private equity investment, as long as he maintains control and the combination makes sense by lowering costs. Global private equity deals among companies with aerospace portfolios rose to 216 in 2022, more than double 2019's figure and the highest in over a decade, according to Refinitiv data. Permanent Equity wants to invest in repair stations and suppliers with large inventories of aerospace parts. In Canada, while bank loans remain accessible for small suppliers, rising rates have flattened real estate pricing.

☆ Sustainable Aviation Fuel No Quick Fix to Greening Air Travel
▼ + stars: | 2023-03-14 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Oscar the Grouch is United Airlines’ pitchman for a new advertising campaign touting the environmental benefits of jet fuel made from waste. It can cut emissions by up to 80% compared with conventional jet fuel, depending on the feedstock used. First, the sustainably derived fuel is typically two to four times as expensive as conventional jet fuel. Globally, jet fuel cost can be volatile but was around $2.76 a gallon as of March 3, according to the International Air Transport Association. Hydrogen’s energy density makes it more promising as a jet fuel.

A jump in air travel demand has driven up sales at its aerospace division, which makes and services engines for Boeing Co (BA.N) and Airbus SE (AIR.PA) jets. GE also reiterated its profit outlook for 2023 as booming demand in its aerospace business is expected to make up for the challenges in its renewable energy business. It expects adjusted earnings of $1.60 to $2.00 per share in 2023, with revenue growth percentage in high single digits. GE estimated that the aerospace business would generate double-digit revenue growth this year, translating into an operating profit of $5.3 billion-$5.7 billion. However, supply and labor shortages have hurt jet engine output, with CEO Culp saying it was a daily battle to meet jet engine demand.

☆ GE working to address durability issues with LEAP jet engines, says company exec
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

CINCINNATI, Ohio March 9 (Reuters) - General Electric Co (GE.N) is working on addressing issues with the durability of its LEAP jet engines and changes will be rolled out next year, Karl Sheldon, a senior executive at the company's aerospace unit, said on Thursday. The problems with LEAP engines, which power Airbus (AIR.PA) and Boeing (BA.N) jets, is occurring in regions like the Middle-East. Sheldon said changes are being made to the engine's turbine blades and nozzles, which are getting affected by hot and harsh conditions. "Hotter engines running in hotter environment is driving this issue," he said on the sidelines of GE's investor conference. Reporting by Rajesh Kumar Singh in Cincinnati, Ohio; Editing by Leslie Adler and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Saf"

25 mentions found