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India And China To Reopen Direct Air Travel After Nearly Five Years

by THEFUTURE.TEAM

January 28, 2025

After almost five years of suspended direct flights, India and China have agreed to resume air travel between the two nations, signaling a shift in their relations following a deadly military clash in 2020 over their disputed Himalayan border.

The agreement, confirmed by India’s foreign ministry, comes after a meeting between Indian Foreign Secretary Vikram Misri and Chinese Foreign Minister Wang Yi. The two countries will soon hold further discussions to establish a framework for the resumption of flights.

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The suspension of direct air travel since the 2020 border conflict had led to tensions, with India tightening restrictions on Chinese companies, banning several popular Chinese apps, and reducing passenger flight routes. Despite the travel restrictions, direct cargo flights between India and China had continued.

However, in recent months, relations between the two nations have begun to thaw. Notable meetings, including one between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi in Russia this past October, have helped improve diplomatic ties.

During his meeting with Misri on Monday, Wang Yi emphasized the need for both countries to work collaboratively, move towards resolving economic and trade issues, and foster long-term political stability and transparency.

“Mutual support and achievements should guide our relationship, rather than doubt and alienation,” Wang stated, reflecting the positive tone of their discussions. This meeting follows a historic agreement in October aimed at easing tensions along their shared border.

While Indian civil aviation authorities had resisted restoring air links in the past due to ongoing border disputes, there have been signs of a shift. Sources told Reuters that India may now be open to reconsidering the opening of airspace and streamlining visa approvals for Chinese nationals.

This recent diplomatic development marks a key step in the two nations’ efforts to move beyond their historical tensions and strengthen bilateral relations.

The Future Forbes Realty Global Properties

Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.