Under President Gustavo Petro, Colombia is modernizing its navy to meet today’s challenges. This includes plans for new frigates, but high costs and delays have affected progress. The administration intends to build new PES frigates to enhance maritime security. Originally estimated at $450 million, the project has faced budget overruns with Damen Shipyards, stalling development […]
Related Posts
Fitch Reduces Petroperú’s Credit Amid Financial Difficulties
Fitch Ratings cut Petroperú’s credit from ‘B+’ to ‘CCC+’, impacting its long-term default ratings and unsecured notes. Emerging from a specialized analysis for government-linked entities, the downgrade indicates a looming default risk due to severe liquidity challenges. As the narrative unfolds, Petroperú contends with a challenging fiscal environment. Expected cash flows are insufficient to cover […]
Gaza’s Dire Food Crisis: Only 10% of Needed Supplies Delivered
The United Nations’ World Food Programme (WFP) reports that only 10% of necessary food supplies reach Gaza. This situation arises amidst ongoing conflict between Israel and Hamas. The WFP, a humanitarian agency, announced the critical food shortage in the area on Thursday, November 16, 2023. According to the agency, Gaza is experiencing widespread hunger. People […]
Virgin Atlantic is flying for the first time to South America
Virgin Atlantic is flying for the first time to South America. The airline starts ticket sales on Sept. 6 for flights from São Paulo to London. Starting May 13, 2024, round-trip tickets will start at $693. The nearly 12-hour flight will be on a Boeing 787-9. The airline is partnering with Latam Airlines for this […]