Bloomberg Russia may be forced to ground between half and two-thirds of its commercial aircraft by 2025 in order to cannibalise them for spare parts, Kommersant newspaper reported, citing an unidentified person at the Transport Ministry. In the ministry’s base case, at least 70% of the country’s foreign-made planes will still be flying by the end of 2025, Kommersant …

  Bloomberg Chinese holidaymakers face another holiday season ruined by virus outbreaks and controls, with the government’s stringent Covid Zero restrictions and fears of infection expected to keep many people at home during the upcoming Labor Day break. Travel was already down in March, when the biggest Covid-19 outbreak in two years prompted officials to lock down major cities like …

  Bloomberg UBS Group AG’s David Chin is stepping down as China country head, the third senior executive at a global lender in the nation to exit this month as bankers are hobbled by a strict Covid Zero strategy and a crackdown on private enterprise. After two years in the role, Chin will be succeeded by Eugene Qian, chairman of …