Delta's general representative in Russia, Leonid Tarasov, made the announcement Tuesday following earlier reports that Delta had completely withdrawn from the Russian market.

Speaking in an interview with the Govorit Moskva radio station, Tarasov said that the move was due to an expected drop in demand during the winter season.

The American airline’s last flight out of Russia this year will take off from Moscow’s Sheremetyevo airport on Tuesday. Customers will now only be able to travel to the United States with Delta with a KLM or Air France flight via Amsterdam or Paris respectively.

Russian carrier Aeroflot will continue to fly directly between the two countries, with daily flights between Moscow and New York.

Delta operates in 96 countries, and is considered the world’s largest airline based on the size of its fleet, passenger volume, and number of destinations.

Exor -- and subsidiaries such as Ferrari and Fiat Chrysler -- will still be traded on the Milan stock exchange, and its companies will continue to employ over 80,000 people in Italy.
The move, which should be finalized by the end of the year, will directly affect about 25 staff in Exor's head office.
Exor also owns 100% of Bermuda-based insurance firm PartnerRe, a majority stake in Italian soccer club Juventus and a large portion of the construction equipment manufacturer, CNH Industrial (CNHI), based in the Netherlands.

The first batch of bonds, worth $500 million, is to be issued in September as part of a $3 billion issuance of so-called TLAC bonds. The Japanese megabank is looking to tap into growing demand for environment-friendly projects among institutional investors. Eventually, MUFG plans to increase the size of its green bond issuances to between 200 billion yen and 300 billion yen ($1.93 billion and $2.9 billion).

TLAC bonds are subordinated securities issued to raise an institution's "total loss-absorbing capacity." Debt acquired through loss-absorbing securities is deemed de facto equity capital. Since the holders are subject to losses, the obligations need not be repaid if the issuer goes bust. This is designed to shift risk onto the shoulders of investors, and away from the global financial system.

The international Financial Stability Board introduced the TLAC standard to ensure that systemically important banks have sufficient cushions -- minimizing danger to the financial sector and reducing the need for public bailouts.

MUFG plans to invest funds raised through its green bonds on photovoltaic, solar thermal and wind energy projects.

The bank is targeting mainly foreign investors with the seven-year bonds. It assumes an annual yield in the upper half of 2%, about 1 percentage point higher than that of U.S. securities with the same time to maturity.

(Nikkei)

The Minister have taken some updates on the Russian economic situation, especially, the economic growth in the Far East, regional economic policies and positions in Asia and the Pacific, and the measures for attracting investments from the regional countries.

During the economic forum, the FM Ts.Munkh-Orgil held bilateral meetings with the Russia Minister of Natural Resources and Environment and chairman of Mongolia-Russia Intergovernmental Committee S.E.Donskoy, Minister of Foreign Affairs S.V.Lavrov, the Head of the Sakha Republic E.A.Borisov, the Deputy Minister of Transportation O.V.Tsydenov and the President of the Russian Railways JSC O.V.Belozerov.