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KATHMANDU – At least 68 people were killed on Sunday when a domestic flight crashed in Pokhara in Nepal, a Nepal aviation authority official said, in the worst air crash in three decades in the small Himalayan nation.

Hundreds of rescue workers were scouring the hillside where the Yeti Airlines flight, carrying 72 people from the capital Kathmandu, went down. The weather was clear, said Mr Jagannath Niroula, spokesman for Nepals Civil Aviation Authority.

As night fell, Mr Niroula said the search for four more still missing would resume on Monday.

Local TV showed rescue workers scrambling around broken sections of the aircraft. Some of the ground near the crash site was scorched, with licks of flames visible.

The crash is Nepals deadliest since 1992, the Aviation Safety Network database showed, when a Pakistan International Airlines Airbus A300 crashed into a hillside upon approach to Kathmandu, killing all 167 people on board.

The aircraft made contact with the airport from Seti Gorge at 0505 GMT (1.05pm in Singapore), the aviation authority said. Then it crashed.

Half of the plane is on the hillside, said Mr Arun Tamu, a local resident, who said he reached the site minutes after the plane went down. The other half has fallen into the gorge of the Seti river.

Mr Khum Bahadur Chhetri said he watched from the roof of his house as the flight approached.

I saw the plane trembling, moving left and right, and then suddenly its nose dived and it went into the gorge, Mr Chhetri told Reuters, adding that local residents took two passengers to a hospital.

The government has set up a panel to investigate the cause of the crash, and it is expected to report within 45 days, Finance Minister Bishnu Paudel told reporters.

Among the 72 passengers were two infants, four crew members and 15 foreign nationals, said airline spokesman Sudarshan Bartaula.

The plane had five Indians, four Russians, one Irish, two South Koreans, one Australian, one French and one Argentinian onboard, a Nepal airport official said. Remote video URL The plane was 15 years old, according to flight tracking website FlightRadar24.

The ATR72 is a widely used twin engine turboprop plane manufactured by a joint venture of Airbus and Italys Leonardo. Yeti Airlines has a fleet of six ATR72-500 planes, according to its website.

ATR specialists are fully engaged to support both the investigation and the customer, the company said on Twitter, adding that its first thoughts were for those affected, after having been informed of the accident.

Local television showed thick black smoke billowing from the crash site as rescue workers and crowds of people gathered around the wreckage of the aircraft. Embed Twitter Tweet URL Air accidents are not uncommon in Nepal, home to eight of the worlds 14 highest mountains, including Everest, as the weather can change suddenly and make for hazardous conditions.

Nepal Prime Minister Pushpa Kamal Dahal has called an emergency Cabinet meeting after the plane crash, a government statement said.

Nepals air industry has boomed in recent years, carrying goods and people between hard-to-reach areas as well as foreign trekkers and climbers. But it has been plagued by poor safety due to insufficient training and maintenance. The ATR 72 aircraft was flying to Pokhara from Kathmandu when it crashed in the Pokhara city of Kaski district. PHOTOS: PARAS156/TWITTER The European Union has banned all Nepali carriers from its airspace over safety concerns.

The Himalayan country also has some of the worlds most remote and tricky runways, flanked by snow-capped peaks with approaches that pose a challenge even for accomplished pilots.

Aircraft operators say Nepal lacks infrastructure for accurate weather forecasts, especially in remote areas with challenging mountainous terrain, where deadly crashes have taken place in the past. In May 2022, all 22 people on board a plane operated by Nepali carrier Tara Air 16 Nepalis, four Indians and two Germans died when it crashed.

Air traffic control lost contact with the twin-propeller Twin Otter shortly after it took off from Pokhara and headed for Jomsom, a popular trekking destination.

Its wreckage was found a day later, strewn across a mountainside at an altitude of around 4,400m.

About 60 people were involved in the search mission, most of whom trekked uphill for miles to get there.

After that crash, the authorities tightened regulations, including that planes would only be cleared to fly only if there was favourable weather forecast throughout the route.

In March 2018, a US-Bangla Airlines plane crash-landed near Kathmandus notoriously difficult international airport, killing 51 people.

That accident was Nepals deadliest since 1992, when all 167 people aboard a Pakistan International Airlines plane died when it crashed on approach to Kathmandu.

Just two months earlier, a Thai Airways aircraft had crashed near the same airport, killing 113 people. REUTERS, AFP More On This Topic Deadly aircraft crashes common in mountainous Nepal Small plane crashes into residential area of Colombian city: Mayor

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Bank of England holds rate but eyes cuts ahead despite global risks

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Bank of England holds rate but eyes cuts ahead despite global risks

The Bank of England has signalled that a weakening labour market could yet trump rising global challenges to allow for more interest rate cuts in the near term.

Policymakers on the nine-member monetary policy committee (MPC) voted 7-3 to maintain Bank rate at 4.25%.

There was greater support than was expected for a cut.

The Bank had previously signalled that a majority on the committee were cautious about the effects of global instability – especially the on-off US trade war.

Money latest: What interest rate decision means for your money

But the minutes of the Bank’s meeting showed there was a greater focus on a rising jobless rate and evidence that employers are shedding jobs – indicating it had dominated the meeting.

It acknowledged, however, that there were potential challenges from the on-off US trade war and as a result of the Israel-Iran conflict.

More on Bank Of England

The barrage of warheads has already resulted in double-digit percentage spikes to oil and natural gas prices in the space of a week.

“Interest rates remain on a gradual downward path,” governor Andrew Bailey said while adding that there was no pre-set path.

“The world is highly unpredictable. In the UK we are seeing signs of softening in the labour market. We will be looking carefully at the extent to which those signs feed through to consumer price inflation,” he added.

The Bank maintained its core message that it would take a “gradual” and “careful” approach.

“Energy prices had risen owing to an escalation of the conflict in the Middle East. The committee would remain vigilant about these developments and their potential impact on the UK economy,” the Bank said.

The rise in the UK’s jobless rate, along with recent data on payrolled employment, has been linked to a business backlash against budget measures, which kicked in in April, that saw employer national insurance contributions and minimum pay demands rise.

While a weaker labour market, including a fall in vacancies, could allow room for the Bank to react through further interest rate cuts, the spectre of war in the Middle East is now clouding its rate judgements.

The last thing borrowers need is an inflation spike.

The UK’s core measure of inflation peaked above 11% in the wake of Russa’s invasion of Ukraine – giving birth to what became known as the cost of living crisis.

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Businesses facing fresh energy cost threat

Inflation across the economy was driven by unprecedented spikes in natural gas costs, which pushed up not only household energy bills to record levels but those for businesses too – with the cost of goods and services reflecting those extra costs.

Borrowing costs have eased, through interest rate cuts, as the pace of price growth has come down.

The rate of inflation currently stands at 3.4% but was already forecast to rise in the second half of the year before the aerial bombardments between Israel and Iran had begun.

LSEG data shortly after the Bank of England minutes were published showed that financial markets were expecting a quarter point cut at the Bank’s next meeting in August and at least one more by the year’s end.

Read more:
Why Middle East conflict poses new cost of living threat

Commenting on the Bank’s remarks Nicholas Hyett, investment manager at Wealth Club, said: “Conflict in the Middle East risks higher energy prices potentially pushing inflation higher – though calling the course of events there is almost certainly a mugs game, and the Bank has said that under current conditions it expects inflation to remain broadly at current levels for the rest of the year.

“The risk is that all the uncertainty leaves the Bank paralysed, with rates stuck at their current level,” he concluded.

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UAE says navigational error caused oil tankers to collide near Strait of Hormuz

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UAE says navigational error caused oil tankers to collide near Strait of Hormuz

A crash between two oil tankers on a major shipping route near the UAE was likely caused by a navigational misjudgement by one of the vessels, officials have said.

The Adalynn and Front Eagle tankers collided and caught on fire on Tuesday near the Strait of Hormuz, a narrow channel which connects the Persian Gulf to the Gulf of Oman.

Israel-Iran latest: Tehran warns US against intervention

In a statement issued today, the United Arab Emirates’ energy ministry did not draw any link between the crash and an upsurge in electronic interference amid the Israel-Iran conflict.

Interference has disrupted navigation systems near the strait since the two countries began firing missiles at each other last week.

The multinational US-led Combined Maritime Force’s Joint Maritime Information Centre said in an advisory this week that it had received reports of interference stemming from near Iran’s Port of Bandar Abbas and other areas in the Gulf region.

Tehran has not commented on the collision or reports of interference.

The UAE coastguard said it evacuated 24 people from the Adalynn, while personnel on Front Eagle were reported safe with no pollution visible after a fire on its deck.

Read more from Sky News:
Why Israel-Iran conflict poses cost of living threat
Who has been targeted in Israel’s strikes?

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The Strait of Hormuz – which handles around a fifth of the world’s seaborne oil – links the Gulf to the northwest with the Gulf of Oman, the Arabian Sea beyond.

The Adalynn, owned by a company based in India, had no cargo and was sailing towards the Suez Canal in Egypt, according to monitoring service TankerTrackers.com.

The Front Eagle was on its way to Zhoushan in China – and loaded with two million barrels of Iraqi crude oil, the tracker said.

TankerTrackers.com said on X that the Front Eagle was moving southbound at a speed of 13.1 knots when it “executed a starboard [right] turn, resulting in a collision” with the Adalynn.

The exact cause of the collision, which resulted in no injuries or spills, is still unclear.

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Technology

Samsung aims to catch up to Chinese rivals for thin foldable phones as Apple said to enter the fray

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Samsung aims to catch up to Chinese rivals for thin foldable phones as Apple said to enter the fray

Samsung launched the Galaxy Z Fold6 at its Galaxy Unpacked event in Paris. The tech giant said the foldable device is thinner and lighter than its predecessor.

Arjun Kharpal | CNBC

Samsung will unveil a thinner version of its flagship foldable smartphone at a launch likely set to take place next month, as it battles Chinese rivals to deliver the slimmest devices to the market.

Folding phones, which have a single screen that can fold in half, came in focus when Samsung first launched such a device in 2019. But Chinese players, in particular Honor and Oppo, have since aggressively released foldables that are thinner and lighter than Samsung’s offerings.

Why are slim foldables important?

“With foldables, thinness has become more critical than ever because people aren’t prepared to accept the compromise for a thicker and heavier phone to get the real estate that a folding phone can deliver,” Ben Wood, chief analyst at CCS Insight, told CNBC on Thursday.

Honor, Oppo and other Chinese players have used their slim designs to differentiate themselves from Samsung.

Let’s look at a comparison: Samsung’s last foldable from 2024, the Galaxy Z Fold6, is 12.1 millimeter ~(0.48 inches) thick when folded and weighs 239 grams (8.43 oz). Oppo’s Find N5, which was released earlier this year, is 8.93 millimeters thick when closed and weighs 229 grams. The Honor Magic V3, which was launched last year, is 9.2 millimeters when folded and weighs 226 grams.

“Samsung needs to step up” in foldables, Wood said.

And that’s what the South Korean tech giant is planning to do at its upcoming launch, which is likely to take place next month.

“The newest Galaxy Z series is the thinnest, lightest and most advanced foldable yet – meticulously crafted and built to last,” Samsung said in a preview blog post about the phone earlier this month.

But the competition is not letting up. Honor is planning a launch on July 2 in China for its latest folding phone, the Magic V5.

“The interesting thing for Samsung, if they can approach the thinness that Honor has achieved it is will be a significant step up from predecessor, it will be a tangible step up in design,” Wood said.

Despite these advances by way of foldables, the market for the devices has not been as exciting as many had hoped.

CCS Insight said that foldables will account for just 2% of the overall smartphone market this year. Thinner phones may be one way to address the sluggish market, but consumer preferences would also need to change.

“There is a chance that by delivering much thinner foldables that are more akin to the traditional monoblock phone, it will provide an opportunity to turn consumer heads and get them to revisit the idea of having a folding device,” Wood said.

“However, I would caution foldables do remain problematic because in many cases consumers struggle to see why they need a folding device.”

Although the market remains small for foldables compared to traditional smartphones, noted analyst Ming-Chi Kuo of TF International Securities on Wednesday said Apple  — which has been notably absent from this product line-up — plans to make a folding iPhone starting next year.

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