- Since Lunar New Year on Jan. 25, Adidas said a “pronounced traffic reduction within the remaining store fleet” had seen business activity tumble roughly 85% when compared to the same period a year earlier.
- Separately, German sportswear maker Puma reported that the coronavirus had “negatively impacted our business since the beginning of February.”
- It comes at a time when many in the sporting goods industry are deeply concerned about the potential economic impact of China’s fast-spreading virus. Source CNBC
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements from other key members in recent days, including Iraq, Algeria, Angola and Nigeria. Source Al Jazeera
“If a state buys (weaponry) from us, it’s no longer a Turkish product. It might be manufactured in Turkey, but it belongs to Ukraine,” Cavusoglu told reporters after meeting his Russian counterpart, Sergei Lavrov, on the margins of the G20 summit in Rome. “Turkey cannot be blamed for this,” he said. Source The Defence Post
Bulgaria has sent 350 additional military personnel to its border with Turkey amid rising migration levels. Defense Minister Georgi Panayotov told Bulgarian media that the troops were arriving to “support the border police”. Source EuroNews
