March, 2022

• 10 March

  India to restart its int’l flights after two years

  

  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 ...

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• 10 March

  Russia roils plane-backed bonds by keeping $10 billion of aircraft

  

  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 ...

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• 10 March

  How Ambani outfoxed Amazon in a $3.4b deal dispute

  

  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 ...

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• 9 March

  UK ratchets up its Russia sanctions with ban on jets

    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 That means cover is withdrawn on existing policies, and insurers are forbidden from ...

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• 9 March

  SoftBank-backed PatPat weighing IPO

  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 ...

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• 9 March

  Poland pushes fighter jet issue over to Nato to decide

  

  Bloomberg Poland is offering to send its MiG-29 fighter jets to an American base in Germany for Nato to decide what to do with them, as it grapples with public pressure from Ukraine to send in planes to help combat Russia’s air superiority. The government in Kyiv has repeatedly called for more fighter jets for its pilots, putting Poland in ...

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• 9 March

  Ukraine stokes Chernobyl concern with radiation warning

  

  Bloomberg A cut power cable leading to Ukraine’s defunct nuclear power plant in Chernobyl prompted officials on Wednesday to warn of potential safety risks. The 2,600 square kilometer (1,000 mile) Chernobyl exclusion zone, site of the deadly 1986 meltdown, also houses a nuclear-waste facility, where spent fuel from Ukraine’s reactors is encased for safe long-term storage. Operator Energoatom said the ...

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• 9 March

  Venezuela releases two US political prisoners after talks

  

  Bloomberg Venezuela’s government released two political prisoners, days after it held a rare meeting with members of the administration of US President Joe Biden to discuss lifting oil sanctions. President Nicolas Maduro released Gustavo Cardenas, a US citizen and former executive from oil firm Citgo, according to his lawyer Diego Barboza. Cuban-American citizen Jorge Fernandez, arrested in February 2021, was ...

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• 9 March

  China official: HK autonomy could last beyond 2047

  

  Bloomberg Hong Kong’s “high degree of autonomy” from China could last for 50 years after legally expiring in 2047, a top Beijing official said, despite China’s greatly expanded control over the financial hub in recent years. Xia Baolong, director of the mainland agency responsible for Hong Kong, made the comments Wednesday to delegates from the finance hub at China’s annual ...

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• 9 March

  Kenya’s elections agency appoints chief after four-year wait

    Bloomberg Kenya named Marjan Hussein Marjan as chief executive officer of its Independent Electoral and Boundaries Commission, barely five months before a general election. Marjan has been acting CEO at the agency since October 2017 when Kenya held a repeat poll after the initial count was nullified by the Supreme Court over irregularities. His task will be to boost ...

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