June, 2023

• 26 June

  Russia shows Putin ally with army after revolt

  

  BLOOMBERG President Vladimir Putin’s defense minister visited combat troops in Ukraine, in an apparent Kremlin effort to bolster his position after a mercenary leader’s mutiny demanding the removal of top military chiefs. Sergei Shoigu was shown on state television meeting with officers at what the Defense Ministry said was the forward command post of Russia’s ‘Zapad’ group of forces in ...

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• 26 June

  Argentina election shifts right in Latin America leaning left

  

  BLOOMBERG Argentina’s presidential election is increasingly poised to usher in a pro-market government after the ruling bloc coalesced around centrist Economy Minister Sergio Massa. Markets in Argentina may rally after Massa announced his run, analysts said, fuelled by optimism that economic policy will eventually move in a new direction after four years of byzantine measures that have left the country ...

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• 26 June

  Germany ready to station 4,000 troops in Lithuania

  

  BLOOMBERG Germany’s defense chief said the country is prepared to station a permanent brigade of some 4,000 troops in Lithuania to help shore up Nato’s eastern flank against potential Russian aggression. The announcement by Defense Minister Boris Pistorius during a visit to Vilnius represented a more robust pledge after Chancellor Olaf Scholz’s government previously said the German military contingent would ...

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• 26 June

  Airbus, Boeing win jet orders at Paris Air Show

  

  BLOOMBERG Airbus SE reigned supreme at the Paris Air show, kicking off with a mammoth 500-plane order from low-cost carrier Indigo. Now all it has to do is find enough workers to build them. Lurking just beneath the spectacle of multi-billion dollar aircraft sales and aerial acrobatics on display outside the French capital is a shortage of parts and labour ...

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• 26 June

  India’s Akasa Air in talks for Boeing plane order

  

  BLOOMBERG India’s Akasa Air is in talks with Boeing Co to place a small follow-on order for 737 Max single-aisle jets if it can lock down financing, according to people familiar with the matter. The US planemaker is working to finalise negotiations as soon as this week at the Paris Air Show, the people said, asking not to be identified ...

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• 26 June

  Ocado shares soar on reports of bid interest from tech firms

  

  BLOOMBERG Ocado Group Plc shares jumped as much as 47% in London, the most in more than five years, following a Times report on “speculation of bid interest” from technology firms such as Amazon.com Inc in the British online grocer. The report, which did not specify the source of the information, said Amazon and several other tech “heavyweights” were considering ...

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• 26 June

  Shein eyes overseas expansion to shift supply chain beyond China

  

  BLOOMBERG Fast-fashion giant Shein will strengthen its presence in Europe and Mexico, including selling more locally made products, in a bid to diversify its China-centric supply chain. The company will launch an online marketplace in Mexico this month, where products from third-party sellers can be bought alongside Shein’s own brand of $10 dresses and $12 jeans. That’ll be followed by ...

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• 26 June

  FAA mandates air-traffic training after near-collisions on airport runways

  

  BLOOMBERG Air-traffic controllers across the US will receive new monthly safety training sessions to address the spike in serious near-collisions on airport runways earlier this year. The Federal Aviation Administration (FAA) is conducting the mandatory training starting in July, the agency said in a press release. The National Air Traffic Controllers Association union is collaborating with the effort, the FAA ...

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• 26 June

  Singapore Air trounces Hong Kong’s Cathay in battle for skies

  

  BLOOMBERG The fortunes of Singapore Airlines Ltd and Cathay Pacific Airways Ltd, the flagship airlines of two of Asia’s most important financial hubs, differed during the pandemic and continue to diverge in its aftermath. Their valuations are revealing — Singapore Air’s market value of $17 billion is almost three times that of Cathay’s. Four years ago the difference was only ...

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• 26 June

  Adnoc Distribution signs pact with India’s HPCL

  

  ABU DHABI / WAM Adnoc Distribution on Monday announced the signing of an agreement with Hindustan Petroleum Corporation Limited (HPCL), one of India’s largest lubricant marketers and fuel retailing companies. The agreement highlights the mutual intent of both companies to explore avenues for expanding their respective international lubricants and allied products businesses in the UAE, India and other potential markets. ...

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