July, 2022

• 21 July

  UK aiming for net-zero aviation sector by 2050

  

    Bloomberg The UK government said new plans to curb the aviation sector’s carbon output should mean aircraft emissions never again exceed levels seen before the coronavirus pandemic. Improvements to the existing aviation system, including a targeted 2% annual gain in fuel efficiency and steps to modernise airspace to shorten routes, should mean 2019 is remembered as the peak year ...

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• 21 July

  UPS expands cargo services in India to seize airfreight boom

  

  Bloomberg United Parcel Service (UPS) Inc opened a second airport cargo-handling facility in India to capture soaring pandemic-driven demand for airfreight. The 15,000-square-foot space in Bengaluru’s international airport will connect south India’s automotive, textile, defense and aerospace manufacturing hubs to parts of Asia, Europe and America, Deepak Shrivastava, managing director of UPS’s local unit, said in an interview. UPS will ...

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• 21 July

  UK consumers start to doubt food quality at supermarkets

  

    Bloomberg British consumers are starting to lose faith in the quality of food sold by UK supermarkets as they adapt their buying habits to cope with the highest inflation in four decades. Trust in supermarkets fell 20% over the past year and almost a quarter of shoppers say they are buying lower-quality products to feed their families, according to ...

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• 21 July

  Finnair rewrites strategy as Russia’s sky stays off limits

    Bloomberg Finland’s national carrier Finnair is working to overhaul its strategy in an admission that access to Russian skies, which underpinned its previous focus on Asia, will likely not be restored any time soon. “There’s no end in sight for the war in Ukraine,” CEO Topi Manner said on a conference call following second-quarter earnings. “We’re preparing to see ...

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• 21 July

  Boeing scores again with VietJet Max deal

    Bloomberg VietJet Aviation JSC confirmed a deal for 200 Boeing Co 737 Max jets, giving the US planemaker another boost at one of the industry’s biggest events. The first 50 aircraft will be delivered to Thai Vietjet, the Vietnamese budget carrier’s affiliate in Thailand, the company said during the Farnborough International Airshow in the UK. “The agreement is a ...

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• 21 July

  Sri Lanka picks ex-leader’s ally as new president, risking fury

  

  Bloomberg Ranil Wickremesinghe was voted in as Sri Lanka’s president backed by a majority of lawmakers from ousted leader Gotabaya Rajapaksa’s party, a development that could reignite street protests in the bankrupt nation and scuttle bailout talks with the International Monetary Fund. Wickremesinghe, 73, beat Dullas Alahapperuma, an opposition-backed candidate who had the support from a faction within the ruling ...

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• 21 July

  US calls Brazil’s election a ‘model’ as President Bolsonaro alleges fraud

  

  Bloomberg The US embassy in Brasilia described Brazil’s elections as a “model for the world,” one day after President Jair Bolsonaro told foreign ambassadors that the country’s electronic voting system is subject to fraud. Echoing comments made by President Joe Biden during a bilateral meeting with Bolsonaro last month, the embassy said in a statement late Tuesday that the US ...

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• 21 July

  Putin signals gas pipeline will restart, but with conditions

  

  Bloomberg Russian President Vladimir Putin signaled that Europe will start getting gas again through a key pipeline, but warned that unless a spat over sanctioned parts is resolved, flows will be tightly curbed. Europe is on tenterhooks, waiting to see whether gas flows resume on Thursday when maintenance on the Nord Stream pipeline is set to end. Putin gave the ...

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• 21 July

  African Union needs a permanent seat at G-20, ministers say

    Bloomberg The African Union should have a permanent seat at the Group of 20 leading economies to give the continent more say as it struggles with the economic fallout from the war in Ukraine, according to three ministers from the region. Representation at the G-20 will bolster the continent’s engagement with the group at a time when soaring energy ...

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• 21 July

  Bank relief from ECB rate hike spoiled by threat of windfall tax

  

  Bloomberg Europe’s banks waited more than a decade for higher interest rates to make lending more profitable again. Now some governments are threatening to spoil the party. As the European Central Bank (ECB) prepares to raise rates on Thursday, politicians from Madrid to Warsaw are calling for mortgage holidays and bank taxes to shield consumers from higher borrowing costs and ...

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