Italy Forges on with World's Largest Suspension Bridge

(FILES) A general aerial view shows the Sicilian coast towards Cape Torre Faro, over the Strait of Messina, taken from the outskirts of the town of Scilla, in Calabria region in southern Italy, on July 7, 2020. (Photo by Andreas SOLARO / AFP)
(FILES) A general aerial view shows the Sicilian coast towards Cape Torre Faro, over the Strait of Messina, taken from the outskirts of the town of Scilla, in Calabria region in southern Italy, on July 7, 2020. (Photo by Andreas SOLARO / AFP)
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Italy Forges on with World's Largest Suspension Bridge

(FILES) A general aerial view shows the Sicilian coast towards Cape Torre Faro, over the Strait of Messina, taken from the outskirts of the town of Scilla, in Calabria region in southern Italy, on July 7, 2020. (Photo by Andreas SOLARO / AFP)
(FILES) A general aerial view shows the Sicilian coast towards Cape Torre Faro, over the Strait of Messina, taken from the outskirts of the town of Scilla, in Calabria region in southern Italy, on July 7, 2020. (Photo by Andreas SOLARO / AFP)

Italy hopes to begin constructing the world's largest suspension bridge connecting Sicily to the Italian mainland this summer amid widespread skepticism that it will ever be built.

The 13.5-billion-euro ($15.3-billion) project would carry trains and six lanes of traffic, allowing cars to cross the Strait of Messina in 15 minutes, AFP reported.

Giorgia Meloni's hard-right government hopes to boost the economy of the impoverished region, although critics say there are better ways to do this -- and many believe that after decades of false starts, the bridge will never actually happen.

The choppy waters between the eastern tip of Sicily and the western edge of the region of Calabria are legendary as the place where monsters Scylla and Charybdis terrified sailors in Homer's epic poem "The Odyssey".

These days the challenges are more prosaic, from winds of more than 100 kilometers an hour (62 mph) to the real risk of earthquakes in a region that lies across two tectonic plates.

The government says the bridge will be at the cutting edge of engineering, with the section suspended between its two pillars stretching 3.3 kilometers, the longest in the world.

But critics point to a long history of public works announced, financed and never completed in Italy, whether due to corruption or political instability, resulting in enormous losses for taxpayers.

"The public does not trust this political class and these projects that become endless construction sites," said Luigi Storniolo, a member of protest group No Ponte (No Bridge).

Infrastructure Minister and Deputy Prime Minister Matteo Salvini, one of the main champions of the project, insists it will be a game-changer for the local economy.

"The bridge will be a catalyst for development," he said on a recent visit to Reggio di Calabria, the city where the bridge will begin.

The government hopes to boost trade in Sicily, which currently suffers from an "insularity cost" of around 6.5 billion euros a year, according to regional authorities.

Meloni's ministers are expected to give their final approval to the project -- which Rome will fund -- later this month, and Salvini insists construction will begin this summer.

But work had already been announced for the summer of 2024, before being postponed -- a common theme in the history of the bridge, the idea of which dates back to the unification of Italy at the end of the 19th century.



Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.


Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 


Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
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Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.