Industries

Global Airlines Suffer Great Losses Owing to Coronavirus Pandemic

By the end of 2020, the losses of global airlines due to the coronavirus pandemic may amount to about $160 billion. The president of Boeing for Russia and the CIS Sergey Kravchenko expressed his opinion in an interview with the TV channel "Russia 24".

"I think airlines will lose money. This year they will lose about $160 billion," he said.

US Tightens Restrictions on Dual Use Goods and Technologies, China and Russia Blacklisted

The US has placed export restrictions on more than 100 Chinese and Russian companies with alleged military ties.

US exporters will be required to get a licence before they transfer "designated items" to companies on the blacklist. The list includes a large number of Chinese aerospace companies as well as Russia's foreign intelligence service.

Turnover increase of 20% for retailers this week

The first week after the introduction of the hybrid e-commerce model known as click-and-collect (dubbed "click-away" in Greece) saw the turnover of retail enterprises boosted by about 20% compared to the previous week. However, in this can in no way offset all of the sector's festive season losses as the lockdown does not allow for the conventional operation of brick-and-mortar stores.

Hyundai Motor moves to buy all stakes at Turkish subsidiary

South Korean automotive giant Hyundai Motor on Dec. 17 applied to the Turkish competition authority to buy 30 percent stake of Hyundai Assan from Kibar Holding in a bid to become the absolute owner of the Turkish carmaker.

Hyundai Motor, the world's fifth-biggest auto group, currently holds 70 percent stake of Hyundai Assan.

UN Report: Food Prices Rocket for First Time in 5 months

The UN Food and Agriculture Organization (FAO) food price index also predicted that cereal production would be 2.704 billion tonnes in 2019, slightly lower than its last forecast.

World food prices rose for the first time in five months in October, boosted by jumps in quotations for sugar and cereals, the United Nations food agency said on Thursday.

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