Central Asia’s fintech ambitions face test beyond Tashkent forum
Central Asia’s fintech ambitions are in the spotlight as a major forum in Tashkent draws to a close, shifting attention from the region&rsquo...
UPS and FedEx have grounded their fleets of McDonnell Douglas MD-11 cargo planes after a deadly crash at UPS's Worldport hub in Louisville, Kentucky, which killed 14 people, including three pilots. The incident is under investigation by the U.S. National Transportation Safety Board (NTSB).
The aircraft, a 34-year-old MD-11 freighter, crashed moments after takeoff, erupting into a fireball. The NTSB reported that the crew tried to regain control of the plane after a warning bell sounded in the cockpit just seconds before the crash. According to the NTSB, one of the plane's engines detached from the left wing as it plunged off the runway, destroying two nearby businesses.
UPS and FedEx grounded the MD-11s "out of an abundance of caution," both companies said in separate statements. UPS operates 27 MD-11 aircraft, which account for 9% of its fleet, while FedEx operates 28 of the planes. Boeing, which acquired the MD-11 program through its 1997 merger with McDonnell Douglas, recommended the grounding of the aircraft for safety reasons, coordinating with the FAA on the matter.
The grounding of the MD-11 fleet by the world's largest cargo carriers, who handle a significant portion of global logistics, has raised concerns over potential disruptions. UPS and FedEx are major players in shipping for retailers like Amazon, Walmart, and Target, as well as for manufacturers and the U.S. Postal Service. However, both companies assured customers that contingency plans were being implemented to minimize disruptions.
The NTSB is leading the investigation into the crash and expects to release a preliminary report within 30 days. The last UPS cargo plane crash occurred in 2013, when an Airbus aircraft went down during landing at the Birmingham International Airport, killing both crew members.
Boeing stated that the MD-11, which was discontinued in 2000 and ended passenger service in 2014, was grounded "in an abundance of caution" following the tragic event, ensuring the continued safety of operations.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Russia and Ukraine have exchanged 10 prisoners of war each in Belarus, Moscow's Human Rights Commissioner, Yana Lantratova, has said.
Russia and Ukraine have exchanged 10 prisoners of war each in Belarus, Moscow's Human Rights Commissioner, Yana Lantratova, has said.
Meta Platforms has agreed to pay up to $16.68 billion and make sweeping changes to Facebook and Instagram to settle claims that its platforms put children and teenagers at risk.
At least nine people have been killed and hundreds of tourists are missing after a massive landslide triggered catastrophic flooding near Nepal’s Himalayan border with China’s Tibet region.
Instagram Chief Adam Mosseri has acknowledged that few teenagers used Instagram’s “Take a Break” feature before it became a default setting, as Meta faces a major U.S. trial over child safety.
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