Author: staff

Japanese startup Space One aborted the launch of its Kairos rocket shortly after takeoff from the Spaceport Kii launch site in Wakayama Prefecture. The rocket lifted off before appearing to lose stability in midair and fall, leaving smoke visible in the sky. The Tokyo-based company said it terminated the flight after determining that mission success was unlikely. The launch had aimed to make Space One the first private Japanese company to place a satellite into orbit.

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The war in Iran since the end of February has triggered an energy price shock and affected oil, petrol, diesel and gas. The higher costs for consumers and energy-intensive industries such as chemicals and steel are also putting pressure on the German economy — which is already under strain due to less-than-ideal economic forecasts. Now the euro, currently valued at around $1.16 — is also suffering. The euro could be hit particularly hard if the scenario of the Iran war lasting significantly longer than the “four weeks” announced by the US president materialises. Economist Daniel Stelter warns that “an already…

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Hungary’s Prime Minister Viktor Orbán has ordered tighter border controls on foreign nationals in the wake of the US-Israeli strikes on Iran, as he increasingly frames security issues as a central pillar of his electoral campaign. Orbán has argued that the armed conflict in the Middle East poses risks to Hungary in terms of energy prices and national security. Analysts say his security-provider narrative could prove advantageous in the run-up to the vote. At the same time, Orbán has escalated a dispute with Ukraine over the Druzhba pipeline, a critical artery for Hungary’s energy supply. The pipeline was struck in…

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European stock markets turned early gains into losses by early afternoon, following a rally in Asian markets, as investors searched for direction nearly a week after the United States and Israel launched strikes on Iran that sent global markets on a rollercoaster. By 2 p.m. CET, Germany’s DAX was down by 0.2%, similar to the CAC 40 in Paris and Britain’s FTSE 100. Madrid’s IBEX stood out by gaining 0.3% as the European benchmark European Stoxx 600 was down by a few points. Before noon, European trading followed strong gains in Asia, where South Korea’s Kospi jumped by more than…

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Without the president’s pressure, Russia is unlikely to come to the negotiating table to strike a peace deal with Ukraine; without American-made weapons, Ukraine will be in danger of defeat on the battlefield anyway.  A European diplomat from another country said they hoped more EU leaders would follow Spain’s example. “If we want international law, rule-based order and any form of multilateralism to prevail, we must be able to express worry about the American actions,” the diplomat said. “What will our leverage be for Putin’s war in Ukraine if Europe cannot express any objections over the U.S. war on Iran? We…

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Bodies of Iranian sailors killed in the sinking of the warship IRIS Dena were brought to the Karapitiya Hospital mortuary in Galle, Sri Lanka. Health workers unloaded bodies from trucks and carried them into the facility as authorities managed the aftermath of the incident. Officials say the Iranian frigate sank in the Indian Ocean off Sri Lanka’s southern coast after being struck by a torpedo fired from a US submarine. Sri Lanka’s navy said at least 87 sailors were killed and dozens remain missing following the attack. Survivors rescued at sea were taken to hospitals in the region for treatment…

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Iran has been attacking its neighbors with drones and missiles in retaliation against U.S.-Israeli strikes on the country. Gulf states such as the United Arab Emirates have been burning through their air defense stocks in a bid to repel the bombardment.  Kallas also warned that rising oil prices because of the war could benefit Moscow. “When the oil price goes up, it actually benefits Russia to fund its war,” she said. Global oil prices have surged to their highest level since July last year following the Washington-led strikes on Tehran.  “And that’s why we have to really push through the maritime services ban [so] we can really curtail the shadow fleet, then the…

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