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The palace, the protests and the red carpet: How OPEC's seminar played out
The palace, the protests and the red carpet: How OPEC's seminar played out

CNBC

time11-07-2025

  • Business
  • CNBC

The palace, the protests and the red carpet: How OPEC's seminar played out

For centuries, Vienna's romantic Hofburg palace served as a winter residence of the imperial Habsburg dynasty — this week, though, it welcomed Saudi royalty, energy ministers, top CEOs and a slew of analysts traders and more. Here are some highlights: Since 1965, Vienna has housed the headquarters of the OPEC Secretariat — the administrative backbone of the 12-member OPEC alliance of oil producers. The Secretariat is led by a secretary-general — currently, former Kuwaiti official Haitham al-Ghais, who took office for his first three-year term in 2022 and has since been reappointed for a second stint starting Aug. 1, 2025. Before the Covid-19 pandemic, the OPEC Secretariat was the humble backdrop of (often) day-long, high-stakes and heated discussions over crude output levels between OPEC producers and their allies, at least twice a year. The Secretariat's home is a cavernous building, where journalists are typically relegated to a basement media room. Sometimes, they're allowed to maraud down cordoned-off areas, hunting for comment as oil ministers of OPEC countries and their allies — collectively known as OPEC+ — arrive. Despite that, even the most nostalgic OPEC journalists will admit that the group's seminar has had a major venue upgrade. The Hofburg palace opened its gates to delegates and media over July 9-10 for a series of sessions focusing on the state of play in the oil market, hydrocarbon investment and the green energy transition. The conference is attended by invitation and accreditation. For the OPEC seminar, the Hofburg palace laid out an interminable red carpet and armed one of its ballrooms-turned-conference halls with larger-than-life high-tech screens playing OPEC's cinematic account of the history of oil. "I'm sure with this event, there are quite a few people who would say, 'Damn it, why I wasn't there?'" Saudi Prince and Energy Minister Abdulaziz bin Salman, the de facto leader of the OPEC alliance, said during special remarks as the conference opened on Wednesday. Acknowledging the Austrian government's willingness to "do its utmost to enable this organization to survive and work and attend to its function, unhindered by … legal concerns and things like that," he stressed: "We are here because your country is beautiful, the city is historic, and more important, the people are welcoming." It turned out, the idyllic charm of Hofburg's sprawling alleyways is no match for a megaphone. By 4:45 p.m. local time on Wednesday, a group of around 30 people, by CNBC's count, had gathered at a respectful distance across the road from the palace to protest the OPEC seminar. A protester briefly leading the chants, who did not want to be identified, said the demonstration was in support of the embattled Gaza enclave, which has been targeted by a retaliatory Israeli military campaign since the Hamas terrorist attacks of October 2023. She pointed CNBC to a series of posts on the stop_opec Instagram account. "Sitting atop plentiful oil resources, Arab regimes yield the power enough to halt Israeli expansion and challenge the West. Yet they choose to fuel U.S. arm sales, and enrich them with real estate, simultaneously fortifying Europe's borders," said one social media post. On the ground, chanting protesters called for an oil embargo and the closure of the Strait of Hormuz – echoing a threat made by Tehran during its 12-day war with Israel last month. Many Arab states — including Hamas supporter Iran – have expressed solidarity with the Palestinian cause. CNBC has reached out to the OPEC Secretariat for comment over the protests. The who's-who of OPEC Seminar speakers spanned ministers of OPEC countries, their allies, key consumers such as India and Turkey, as well as the CEOs of the biggest names in the industry, including the heads of BP, TotalEnergies, Shell and Saudi Aramco. CNBC tried to intercept several of these delegations. Ministers from heavyweight producers Russia and Iran — who would likely have been swarmed by journalists amid pressures from European and U.S. sanctions — were notably absent. Iranian Oil Minister Mohsen Paknejad nevertheless delivered opening remarks via videoconference on Wednesday, in a speech which included some rare political comments. He stressed the risks that armed escalations pose to crude markets, mere weeks after his country, OPEC's third-largest producer, was locked in a 12-day war with Israel. "This vital and growing industry needs peace to serve its mission of promoting prosperity at national, regional and global levels; and to promote cooperation and development in a fast changing and ever-complicating world," he said, according to a speech readout. Going into the conference, members of the press can't be begrudged their enthusiasm: OPEC+ — as well as its eight-nation subset who have been carrying out voluntary cuts in crude production — have been increasingly meeting over private videoconference, limiting opportunities for press briefings. At the OPEC seminar, the action doesn't start at the red carpet. Often tipped off on where delegations are staying, journalists frequently stake out hotels, hoping for unguarded comments as ministers make their way to the conference. CNBC's Emma Graham also likened the event to a wedding — no one is getting married, but journalists can once again have a good catch up with their friends who report on the oil market. Otherwise, most OPEC reporting is now done through sourced scoops and probing delegates for market views and indicators ahead of — and during — policy meetings. The next one is due on Aug. 3, between the eight members who have been progressively (and increasingly briskly) unwinding a voluntary 2.2 million-barrels-per-day production cut.

Light at the end of the tunnels: classic rail routes through the Alps reopen
Light at the end of the tunnels: classic rail routes through the Alps reopen

The Guardian

time10-07-2025

  • The Guardian

Light at the end of the tunnels: classic rail routes through the Alps reopen

The planning of main rail routes through the Alps was shaped by national ambition and rivalries. The opening of Austria's Semmering railway in 1854, the Mont Cenis route (also known as Fréjus) between France and Italy in 1871 and Switzerland's Gotthard tunnel in 1882 defined the broad contours of Alpine railway geography in the late 19th century. But Habsburg planners were keen to secure better links with Adriatic ports, so in 1901 they sketched out a bold plan for the Neue Alpenbahnen (new Alpine railways), of which Austria's Tauern railway was the most important. It opened in 1909. When it closed for rebuilding in November 2024, it was a sharp reminder of how much passengers and freight rely on a handful of key Alpine rail routes. Lose one key Alpine link and the effects of that closure are felt across Europe. The last couple of years have been tough for Alpine rail operators. Landslides, floods and derailment have played havoc on the lines. So three cheers for the more recent good news stories. The important Mont Cenis route reopened this spring, having been shut after a landslide in August 2023 (though there was a wobble last week when another landslide briefly interrupted services). That closure necessitated the cancellation of all high-speed trains between France and Italy. These links have now been restored, allowing travellers this summer to speed from Paris to Turin in just 5hrs 40mins, or from Lyon to Milan in under five hours. Other major Alpine routes welcomed new long-distance trains this summer. On the Brenner route from Austria into Italy, a new seasonal Railjet service now runs from Munich right through to the Adriatic port of Ancona. Since late June, the famous Semmering railway has seen new direct trains from Warsaw to Rijeka which slip by dead of night through the Austrian Alps – 20 hours from the Polish capital to the Croatian coast. Last month also saw the celebrated Gotthard route hosting a new daytime train from Zürich to Pisa, an eight-hour journey that takes in not merely the Alps but also some glorious Ligurian coastal scenery along the way. But the best is yet to come. The Tauern railway will reopen on 14 July. The return of this major rail axis through the Austrian Alps has had a transformative effect on European rail timetables, as many key trans-Alpine train services are restored. Overnight services from Stuttgart and Salzburg to Venice, suspended since last year with the Tauern closure, return from 14 July. So does the Nightjet from Munich to Rome. It is remarkable how the loss of one key rail link can reshape European geography. During the Tauern closure, journeys from Switzerland and southern Germany to Slovenia have been slower. Within Austria, Salzburg and Carinthia will be happily reconnected with the reopening of the railway. Trains will again glide from Salzburg to the lovely Carinthian city of Villach in just 2hrs 32mins, from where there are good onward connections to Slovenia and Italy. The Tauern railway is an old-style main line carrying a mixture of freight and passenger services. It was never designed for high speed and the scenery is too good to rush. So the fact that even the fastest trains average under 50mph is a blessing. The debut southbound passenger train through the restored Tauern tunnel is an Intercity scheduled to leave Salzburg at 06.12 on 14 July. And here's hoping for good (but not too hot) weather on that Monday, as the Tauern railway is at its best on a sunny summer morning. The railway cuts up the Salzach valley from Salzburg, the scenery initially revealing little of the drama that lies ahead. It is only beyond Schwarzach that the hills close in and the railway presses south, with the great wall of the Tauern Alps ahead. The last stop before the Tauern tunnel is Bad Gastein, a remarkable Habsburg-era spa town with belle epoque charm. It is a great spot to break the journey and enjoy the mountain air, or the town's radon-rich spa tradition. Continuing beyond Bad Gastein, the railway plunges into the Tauern tunnel. This is one of the shortest of the great Alpine rail tunnels and there is just seven minutes of darkness before the train emerges into Carinthian sunshine, with the landscape now hinting at a more southern demeanour. I love this stretch, as the railway drops down towards the Möll valley, following the latter down towards the River Drau, which is crossed just after stopping at Spittal. After bridging the Drau, sit on the right for great views of the river, as the railway parallels it downstream to Villach. Here the Drau is just in its infancy; but further down its long course it becomes the Drava and flows east to join the Danube, on the border between Croatia and Serbia. It is a river which has shaped European history, just as the Tauern railway has shaped travel patterns through the Alps. Björn Bender, CEO of Rail Europe, captures the huge sense of relief across the wider European rail industry when he says: 'The Tauern tunnel reopening is so important, as it's a key route for trains from Bavaria to Slovenia. It is also used by travellers heading through the Alps to north-east Italy. The Austrian province of Carinthia becomes so much more accessible again. And the Tauern reopening on 14 July is just the prelude of more good things to come. In December the new Koralm tunnel opens, cutting journey times between Vienna and Klagenfurt, the provincial capital of Carinthia.' Tickets from Salzburg to Villach via the Tauern railway cost from £9 one way (increasing to £13.50 or £18 once £9 tickets are sold out) from Rail Europe. This is a discounted Sparschiene ticket, which needs to be booked in advance. Nicky Gardner is co-author of Europe by Rail: The Definitive Guide (18th edition, Hidden Europe, £20.99) available from the Guardian Bookshop

Light at the end of the tunnels: classic rail routes through the Alps reopen
Light at the end of the tunnels: classic rail routes through the Alps reopen

The Guardian

time10-07-2025

  • The Guardian

Light at the end of the tunnels: classic rail routes through the Alps reopen

The planning of main rail routes through the Alps was shaped by national ambition and rivalries. The opening of Austria's Semmering railway in 1854, the Mont Cenis route (also known as Fréjus) between France and Italy in 1871 and Switzerland's Gotthard tunnel in 1882 defined the broad contours of Alpine railway geography in the late 19th century. But Habsburg planners were keen to secure better links with Adriatic ports, so in 1901 they sketched out a bold plan for the Neue Alpenbahnen (new Alpine railways), of which Austria's Tauern railway was the most important. It opened in 1909. When it closed for rebuilding in November 2024, it was a sharp reminder of how much passengers and freight rely on a handful of key Alpine rail routes. Lose one key Alpine link and the effects of that closure are felt across Europe. The last couple of years have been tough for Alpine rail operators. Landslides, floods and derailment have played havoc on the lines. So three cheers for the more recent good news stories. The important Mont Cenis route reopened this spring, having been shut after a landslide in August 2023 (though there was a wobble last week when another landslide briefly interrupted services). That closure necessitated the cancellation of all high-speed trains between France and Italy. These links have now been restored, allowing travellers this summer to speed from Paris to Turin in just 5hrs 40mins, or from Lyon to Milan in under five hours. Other major Alpine routes welcomed new long-distance trains this summer. On the Brenner route from Austria into Italy, a new seasonal Railjet service now runs from Munich right through to the Adriatic port of Ancona. Since late June, the famous Semmering railway has seen new direct trains from Warsaw to Rijeka which slip by dead of night through the Austrian Alps – 20 hours from the Polish capital to the Croatian coast. Last month also saw the celebrated Gotthard route hosting a new daytime train from Zürich to Pisa, an eight-hour journey that takes in not merely the Alps but also some glorious Ligurian coastal scenery along the way. But the best is yet to come. The Tauern railway will reopen on 14 July. The return of this major rail axis through the Austrian Alps has had a transformative effect on European rail timetables, as many key trans-Alpine train services are restored. Overnight services from Stuttgart and Salzburg to Venice, suspended since last year with the Tauern closure, return from 14 July. So does the Nightjet from Munich to Rome. It is remarkable how the loss of one key rail link can reshape European geography. During the Tauern closure, journeys from Switzerland and southern Germany to Slovenia have been slower. Within Austria, Salzburg and Carinthia will be happily reconnected with the reopening of the railway. Trains will again glide from Salzburg to the lovely Carinthian city of Villach in just 2hrs 32mins, from where there are good onward connections to Slovenia and Italy. The Tauern railway is an old-style main line carrying a mixture of freight and passenger services. It was never designed for high speed and the scenery is too good to rush. So the fact that even the fastest trains average under 50mph is a blessing. The debut southbound passenger train through the restored Tauern tunnel is an Intercity scheduled to leave Salzburg at 06.12 on 14 July. And here's hoping for good (but not too hot) weather on that Monday, as the Tauern railway is at its best on a sunny summer morning. The railway cuts up the Salzach valley from Salzburg, the scenery initially revealing little of the drama that lies ahead. It is only beyond Schwarzach that the hills close in and the railway presses south, with the great wall of the Tauern Alps ahead. The last stop before the Tauern tunnel is Bad Gastein, a remarkable Habsburg-era spa town with belle epoque charm. It is a great spot to break the journey and enjoy the mountain air, or the town's radon-rich spa tradition. Continuing beyond Bad Gastein, the railway plunges into the Tauern tunnel. This is one of the shortest of the great Alpine rail tunnels and there is just seven minutes of darkness before the train emerges into Carinthian sunshine, with the landscape now hinting at a more southern demeanour. I love this stretch, as the railway drops down towards the Möll valley, following the latter down towards the River Drau, which is crossed just after stopping at Spittal. After bridging the Drau, sit on the right for great views of the river, as the railway parallels it downstream to Villach. Here the Drau is just in its infancy; but further down its long course it becomes the Drava and flows east to join the Danube, on the border between Croatia and Serbia. It is a river which has shaped European history, just as the Tauern railway has shaped travel patterns through the Alps. Björn Bender, CEO of Rail Europe, captures the huge sense of relief across the wider European rail industry when he says: 'The Tauern tunnel reopening is so important, as it's a key route for trains from Bavaria to Slovenia. It is also used by travellers heading through the Alps to north-east Italy. The Austrian province of Carinthia becomes so much more accessible again. And the Tauern reopening on 14 July is just the prelude of more good things to come. In December the new Koralm tunnel opens, cutting journey times between Vienna and Klagenfurt, the provincial capital of Carinthia.' Tickets from Salzburg to Villach via the Tauern railway cost from £9 one way (increasing to £13.50 or £18 once £9 tickets are sold out) from Rail Europe. This is a discounted Sparschiene ticket, which needs to be booked in advance. Nicky Gardner is co-author of Europe by Rail: The Definitive Guide (18th edition, Hidden Europe, £20.99) available from the Guardian Bookshop

Plan to bring back moa for the birds: paleontologist
Plan to bring back moa for the birds: paleontologist

Otago Daily Times

time09-07-2025

  • Science
  • Otago Daily Times

Plan to bring back moa for the birds: paleontologist

A plan to bring back the New Zealand moa is a "pipe dream" that will likely never take flight, a prominent Dunedin paleontologist says. Earlier this week, United States-based company Colossal Biosciences announced it aimed to genetically engineer living birds to resemble the extinct South Island giant moa by 2035, and the plan already has support from Hollywood movie director Sir Peter Jackson, Ngāi Tahu and Canterbury Museum. Colossal claims to have already brought back a version of dire wolves, which became extinct 10,000 years ago, and has plans to do the same for the woolly mammoth and the dodo. However, University of Otago paleogenetics lab director and paleontologist Associate Prof Nic Rawlence is not convinced moa can be brought back. "They [Colossal] have come out with a good glossy show and a big splash, but I wouldn't believe any of the hype. There are serious concerns. "They announced a few months ago that they had de-extincted the dire wolf — but they didn't. They created a genetically engineered grey wolf. "So they won't be de-extincting the moa. They will be creating a genetically engineered emu or some other genetically engineered ratite. "It may look like a moa, but we will have no idea whether it functions like a moa or talks like a moa. "It's that quote — if it looks like a duck, walks like a duck and talks like a duck, it must be a duck. "But in this case, it would only look like a moa. "That's as far as it would go. I would say it's still a pipe dream." Prof Rawlence said he also had "serious ethical concerns". The company said the point of de-extinction was for conservation, and the moa would not be released into the wild. "They're going to be in a game reserve for ecotourism opportunities. "But also, if you are going to bring back more than just a zoo animal, then you need to bring back at least 500 individuals for the de-extinct population to be genetically secure and not have effects of inbreeding like you get in the English Royal Family or the Habsburg dynasty. "Will they even be able to breed? We don't know. "And if they could, what are the unintended consequences of inserting moa genes into, say, an emu? "We don't know whether these individuals will be genetically healthy." He said the project would also incur "opportunity costs", where money would get pulled from the conservation of existing endangered animals to fund the moa de-extinction. Potentially, it would further endanger critically endangered species, he said. He also had major concerns about iwi engagement in the project. "So with Ngāi Tahu, they're all the individual rūnanga. "In all of the engagement our lab [the Otago paleogenetics laboratory] has done up and down the motu over the past 10 years or more, including on projects sequencing the genomes of moa, we have found there is no appetite for de-extinction. "We know the individual runanga do not like being told what to do by Ngāi Tahu and Christchurch. "At the top of the South Island, there are also seven iwi that aren't Ngāi Tahu that I also know are dead set against de-extinction." He said one of the major reasons de-extinction was not supported by many rūnanga was whakapapa, or genealogy, which was very important to Māori. "And messing with the whakapapa, messing with the genetic code of animals, is viewed with disgust. They don't want it to happen. "They also have concerns about the opportunity costs, the habitats not being there, who's going to pay to look after all of the de-extinct animals and also around who owns the DNA, who owns the DNA sequence data and concerns around samples going overseas for sequencing." Prof Rawlence said with something this big, there needed to be more than just one research centre calling the shots around supposed Māori approval of this. "What we have here is, for all intents and purposes, the Ngāi Tahu Research Centre saying we're going to bring back a species that used to occur in the South Island, when you have parts of South Island Māoridom against it from within the iwi and from outside of the iwi. "So we really need a South Island-wide consensus discussion for the South Island giant moa. "That's going to be difficult." He said ethically and engagement-wise, Colossal, the Ngāi Tahu Research Centre and Canterbury Museum needed to "come clean" on how widely they had engaged. "Because on the surface, it looks like a captain's call on behalf of all of Ngāi Tahu." He said the technology Colossal had developed could be a "game changer" for conserving animals we had left — such as genetically engineering a kākāpō to be resistant to disease. "I think the money is better spent on conserving animals we have left."

Vienna's timeless charm
Vienna's timeless charm

Deccan Herald

time03-07-2025

  • Deccan Herald

Vienna's timeless charm

Vienna may be 6,000 kilometres from India — but walk its streets and you'll feel like you've stepped inside a painting. Cobblestone paths, candy-coloured buildings, horse-drawn carriages, and music floating through the air... it's no wonder Vienna has been called one of the most beautiful cities in the world. But behind all that charm is a city full of cool contradictions: history and hip-hop, Mozart and murals, coffee houses and roller coasters. Whether you love art, food, parks, palaces, or just exploring something new, Vienna is one European capital that never feels boring. It's the kind of place where you could eat chocolate cake in a 300-year-old café and then hop on a tram to see street art or visit a museum shaped like a spaceship. For history lovers, Vienna is like a giant time capsule. The grand Schönbrunn Palace looks straight out of a fairytale, with 1,441 rooms, vast gardens, and a maze where you could easily get lost (in the best way). It was once the summer home of emperors and empresses, and walking through its halls makes you wonder what royal life was really like. Another must-see is the Hofburg Palace, the former centre of the powerful Habsburg dynasty that ruled for over six centuries. It's so big, it now houses museums, a chapel, a library, and even the President's office! Vienna may love its past, but it also knows how to have fun with the future. Just look at the MuseumsQuartier — a cluster of cool museums and hangout spots, where you can explore modern art, chill on colourful benches, or watch kids skateboarding past 18th-century buildings. Then there's the Zoom Children's Museum, where young visitors can crawl through exhibits, shoot their own short films, or even experiment with sound. Speaking of sound, the House of Music is a must-visit — an interactive sound playground where you can mix tracks, conduct an orchestra, and learn about famous composers like Beethoven and Schubert, who once lived right here in Vienna. Music is everywhere in this city. You might hear a violinist playing near a subway station or stumble upon a free outdoor concert in the summer. Vienna gave the world some of its greatest composers, and it still celebrates them — from opera houses to student orchestras. Don't be surprised if your tram ride ends with someone humming a tune you heard back at the museum. And then, there's the food. Vienna is serious about its sweets — especially the world-famous Sachertorte, a rich chocolate cake with a secret recipe. You can try it at the elegant Café Sacher or in dozens of other cosy cafés that line the city's streets. In fact, café culture is such a big deal here that it's been recognised by UNESCO as part of world heritage. People come to cafés not just to drink coffee, but to read, write, meet friends, and soak in the atmosphere. But Vienna isn't all indoors. The city is full of leafy parks, winding trails, and even vineyards. Yes, vineyards — inside the city! The Vienna Woods (Wienerwald) offer peaceful hikes, while the Donauinsel (Danube Island) is a favourite weekend spot for swimming, cycling, and summer picnics. Even the amusement park — Prater — has a mix of old-world charm and thrilling rides, including a giant Ferris wheel that's been turning since 1897. Getting around Vienna is a breeze. The public transport system is so clean, safe, and easy that you barely miss cars. With just a travel pass, you can zip around the city by tram, bus, or underground train — making it super fun for young explorers. One of the best things about Vienna is how it balances elegance with everyday life. You could walk past a palace on your way to a science centre, or grab ice cream near a historic opera house. And it's not just about what you see — it's also about what you feel. Vienna feels calm, respectful, and welcoming. People follow rules, take care of the environment, and actually enjoy slowing down. So if you ever get the chance to visit this magical city, bring your curiosity and your imagination. ISTOCK Trams have been running for over 150 years The first horse-drawn trams began in 1865. Today, the tram network stretches over 180 kilometres. ISTOCK Famous Sachertorte has a secret recipe The original chocolate cake recipe is locked away at Hotel Sacher — only a few pastry chefs know it! Only capital city with its own vineyards More than 600 hectares of vineyards lie within the city limits, and locals often go for grape-picking picnics! World's oldest zoo Tiergarten Schönbrunn, founded in 1752, is still running — and it's home to pandas, polar bears, and even cheetahs. A museum dedicated to fake art The Museum of Art Fakes showcases famous forgeries and the people who fooled the art world. Street art scene is booming

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