Author: Steven Sahiounie

Starbucks’ revenue fell one percent in the April-June period as customer traffic weakened in the US and China.

Passenger traffic at European airports returned to pre-COVID-19 levels in the first half of the year as the sector finally “turned the corner” on the pandemic crisis, the main in-dustry association said on Wednesday.

India’s Adani Group is considering investing in two airports in Vietnam, the Vietnamese government said on Wednesday, weeks after the company revealed it had permission to build a seaport in the country.

Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its new President and CEO after a months-long search, tasking the former Rockwell Collins executive with the monumental job of turning around the struggling planemaker.

President Joe Biden’s administration plans to unveil a new rule next month that will expand US powers to stop exports of semiconductor manufacturing equipment from some foreign countries to Chinese chipmakers, two sources familiar with the rule said. But shipments from allies that export key chipmaking equipment – including Japan, the Netherlands and South Korea – will be excluded, limiting the impact of the rule, said the sources who were not authorized to speak to media and declined to be identified. As such, major chip equipment manufacturers such as ASML and Tokyo Electron will not be affected. Shares in both companies surged following…

US-based credit rating agency Fitch has warned of an imminent default in Ukraine, announcing in a statement on Wednesday that it had further downgraded Kiev’s credit rating. 

Moscow’s commodity supplies to its Asian neighbor have been growing at a record pace, according to customs data

Western aid will depend on the result of US presidential election and could shrink, according to Sergey Marchenko

Exports dropped by 76% in the first half of this year, Chinese customs data shows Electricity exports from Russia to China plummeted to record low levels in the first six months of this year, business daily Kommersant reported on Tuesday, citing Chinese customs data. Between January and June, Russia’s power exporting company Inter RAO supplied about 465 million kWh to China, which is 76% less than during the same period last year. The publication cited low water availability, a lack of generation capacity, and repairs at thermal power plants in the Far East as reasons for the decrease. If the…

Palestinian President Mahmoud Abbas will visit Türkiye in August, Turkish officials confirmed on Wednesday. Abbas will pay a visit to Türkiye on Aug. 14-15, the country’s communications director, Fahrettin Altun, said on X. Abbas will meet Turkish President Recep Tayyip Erdogan on Aug. 14, and will address the Turkish parliament the next day, Altun added. Turkish parliament speaker Numan Kurtulmus called for an extraordinary meeting of the parliament on Aug. 15 for Abbas’s address. “I call the Grand National Assembly of Türkiye for an extraordinary meeting in order to show our strong support for the Palestinian people and their cause…