Bloomberg India will resume scheduled international flights after two years from March 27 and end air-bubble arrangements, the aviation regulator said. The move may spell a further boost for Indian carriers, which are adding back capacity as more people take to the skies with Covid-19 infections receding and vaccination cover increasing. Falling infections have paved the way for relaxations in …

Bloomberg Russia’s decision to block foreign owners from seizing hundreds of planes worth about $10 billion is roiling a market where aircraft leases are bundled into bonds and sold to investors. European Union sanctions imposed on Russia because of its Ukraine invasion give plane owners until March 28 to retrieve the vehicles. But only a handful have been extracted, and …

Bloomberg Add Amazon.com Inc to the list of companies that have been outmaneuvered by Mukesh Ambani’s juggernaut. Not only has he jolted the US giant in the fight to dominate India’s retail sector, he now holds all the cards in a $3.4 billion dogfight to buy a local cash-strapped retailer. Ambani’s Reliance Industries Ltd in late-February quietly began poaching employees …

  Bloomberg The UK ratcheted up its sanctions against Vladimir Putin’s administration by banning all Russian aircraft from landing and overflying Britain, and prohibiting aviation and space-related exports. The aviation export ban covers technology and components as well as insurance and reinsurance products, the Foreign Office said. That means cover is withdrawn on existing policies, and insurers are forbidden from …

Bloomberg PatPat, a clothing and maternal products online marketplace, is exploring an initial public offering, according to people familiar with the matter. The SoftBank Vision Fund 2-backed firm has held early discussions with potential advisers, the people said, asking not to be identified as the information isn’t public. A share sale could happen as soon as this year and could …

  Bloomberg UniCredit SpA signaled a hit of about 200 basis points to its capital buffers in an “extreme scenario” in which its Russian banking assets are wiped out, joining European lenders detailing the potential fallout from the financial turmoil after the Ukraine invasion. The Milan-based bank doesn’t consider an extreme scenario — the entirety of its exposure to the …

  Bloomberg Countries around the globe face a challenge in replacing supply of commodities from Russia and Ukraine that has been cut off by the war and should remove restraints to production, according to the World Bank chief. Nations could look at easing constraints such as the Jones Act in the US—which requires that ships moving between ports be built …

  Bloomberg A group of banks led by UniCredit SpA is considering options including a state-backed guarantee for a 850 million euros bridge-loan for troubled Italian engineering firm Saipem SpA, according to people familiar with the matter. The team of banks, which includes Intesa Sanpaolo SpA, started discussing the option in a confidential meeting, the people said, asking not to …

Bloomberg The European Central Bank is concerned that lenders’ balance sheets could suffer a series of hits after Russia’s invasion of Ukraine plunged the global economy and markets into turmoil. The regulator has told banks to assess whether they need to set aside money for potential losses not just on loans to Russian firms, but also on lending to companies …

  Bloomberg Royal Bank of Canada, Shopify Inc. and Bullfrog Power Inc. have agreed to buy a combined 90,000 megawatt-hours of energy a year from a Berkshire Hathaway Inc. wind farm in Canada. The firms are purchasing the power from Berkshire Hathaway Energy Canada’s 130-megawatt Rattlesnake Ridge Wind Power Project in southeast Alberta, according to a release Wednesday. The project, …