Airline stocks tumble after Israel strikes on Iran
LONDON: European airline stocks tumbled in early trading on Friday after Israel launched widescale strikes against Iran, which pushed the oil price up by 7 per cent and ignited a rush out of risk assets.
Shares in Lufthansa dropped almost 5 per cent on the Tradegate platform, while those in Air France-KLM and EasyJet fell 3-4 per cent.
Airlines cleared out of the airspace over Israel, Iran and Iraq and Jordan on Friday after Israel launched attacks on targets in Iran, Flightradar24 data showed, with carriers scrambling to divert and cancel flights to keep passengers and crew safe.
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New Straits Times
an hour ago
- New Straits Times
Concerted efforts to cut food import dependence through urban farming
LABUAN: Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa has called for coordinated and innovative strategies to reduce Labuan's heavy reliance on imported food. She urged the implementation of urban and alternative farming systems to address the island's limited agricultural land. Dr Zaliha acknowledged that the duty-free island faces significant agricultural challenges due to land constraints and limited connectivity. However, she emphasised that sustainable food policies must be developed to ensure sufficient raw material supplies for the local population. "Our efforts are to ensure adequate food supplies for the Labuan community despite the shortage of land and (limited) connectivity," she told reporters after launching the Interim Report on the 2024 Agriculture Census in the Federal Territories 2024 here today. Dr Zaliha said that with only 0.22 per cent of land in Labuan zoned for agricultural use, the constraint makes large-scale conventional farming unfeasible, necessitating alternatives such as hydroponics and urban farming. She said Labuan's overdependence on imported food could result in price instability and a rising cost of living. In response, she announced that Labuan Corporation (LC), in collaboration with the Department of Agriculture, Department of Veterinary Services, and Domestic Trade and Cost of Living Ministry, would evaluate the island's food self-sufficiency levels, particularly for essential items such as chicken, meat, eggs, and vegetables. She also proposed a long-term vision to transform Labuan into a 'living laboratory' for sustainable food systems in Malaysia, inspired from urban food district models in European cities. "To realise this vision, we need a centre of excellence that collaborates with research institutions and universities, shifting from conventional agriculture to food alternatives such as cultivated meat and lab-produced cellular fermentation," she said. Dr Zaliha said she would instruct Labuan Corporation to identify any potentially suitable land for agriculture to bolster the island's food security. – Bernama
The Sun
2 hours ago
- The Sun
Labuan pushes urban farming to cut food import reliance
LABUAN: Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa has stressed the need for coordinated efforts to reduce Labuan's heavy dependence on imported food. She highlighted urban and alternative farming as key solutions to overcome the island's limited agricultural land. Speaking at the launch of the Interim Report on the 2024 Agriculture Census in the Federal Territories, Dr Zaliha acknowledged Labuan's challenges, including land scarcity and connectivity issues. However, she emphasised the importance of sustainable food policies to secure raw material supplies for locals. 'Our efforts are to ensure adequate food supplies for the Labuan community despite the shortage of land and (limited) connectivity,' she told reporters. With only 0.22 per cent of Labuan's land zoned for agriculture, conventional farming is impractical. Dr Zaliha proposed hydroponics and urban farming as viable alternatives. She warned that over-reliance on imports could lead to price volatility and higher living costs. To address this, Labuan Corporation, alongside the Department of Agriculture and other agencies, will assess food self-sufficiency levels, particularly for staples like chicken, meat, eggs, and vegetables. Dr Zaliha also envisioned Labuan as a 'living laboratory' for sustainable food systems, drawing inspiration from European urban food districts. She suggested establishing a centre of excellence involving research institutions to explore food alternatives such as lab-grown meat and cellular fermentation. Additionally, she directed Labuan Corporation to identify potential agricultural land to enhance food security.
Barnama
3 hours ago
- Barnama
Concerted Efforts To Cut Food Import Dependence Trough Urban Farming
LABUAN, June 28 (Bernama) -- Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa has called for coordinated and innovative strategies to reduce Labuan's heavy reliance on imported food. She urged the implementation of urban and alternative farming systems to address the island's limited agricultural land. Dr Zaliha acknowledged that the duty-free island faces significant agricultural challenges due to land constraints and limited connectivity. However, she emphasised that sustainable food policies must be developed to ensure sufficient raw material supplies for the local population. 'Our efforts are to ensure adequate food supplies for the Labuan community despite the shortage of land and (limited) connectivity,' she told reporters after launching the Interim Report on the 2024 Agriculture Census in the Federal Territories 2024 here today. Dr Zaliha noted that with only 0.22 per cent of land in Labuan zoned for agricultural use, the constraint makes large-scale conventional farming unfeasible, necessitating alternatives such as hydroponics and urban farming. She said Labuan's overdependence on imported food could result in price instability and a rising cost of living. In response, she announced that Labuan Corporation (LC), in collaboration with the Department of Agriculture, Department of Veterinary Services, and the Ministry of Domestic Trade and Cost of Living, would evaluate the island's food self-sufficiency levels, particularly for essential items such as chicken, meat, eggs, and vegetables. She also proposed a long-term vision to transform Labuan into a 'living laboratory' for sustainable food systems in Malaysia, inspired from urban food district models in European cities.
