Ata mārie and welcome to the first day of summer and your daily dose of international business and political news.
First up, Israeli Prime Minister Benjamin Netanyahu has formally asked for a pardon related to corruption charges against him, the ABC reported. Netanyahu has been on trial since 2020 after being indicted on charges of bribery, fraud, and breach of trust. He denied all charges.
Netanyahu said he would not concede guilt in his long-running corruption trial, less than a day after thanking US President Donald Trump for urging Israel's President Isaac Herzog to clear his record.
"In accordance with the guidelines and procedures, the request is currently being transferred to the Pardons Department in the Ministry of Justice which will gather the opinions of all the relevant authorities in the Ministry of Justice," Herzog’s office said.
“The Office of the President is aware that this is an extraordinary request which carries with it significant implications. After receiving all of the relevant opinions, the President will responsibly and sincerely consider the request.”
Meanwhile, Pope Leo XIV reiterated the Vatican’s insistence on a two-state resolution for the Israeli and Palestinian conflict to guarantee justice for both sides, Al Jazeera reported.
On Gaza, he repeated the longstanding position supporting a two-state solution. “We know that in this moment, Israel doesn’t accept this solution, but we see it as the only one that can offer a solution to the conflict that they are living in.
“We are also friends with Israel, and we try with both sides to be a mediating voice that can help bring them closer to a solution with justice for all.”
Elsewhere, Trump said the airspace above and surrounding Venezuela is to be closed, with limited explanation as to why, CNBC and Reuters reported.
“To all Airlines, Pilots, Drug Dealers, and Human Traffickers, please consider THE AIRSPACE ABOVE AND SURROUNDING VENEZUELA TO BE CLOSED IN ITS ENTIRETY,” Trump wrote on Truth Social.
Venezuela’s government condemned Trump’s comments, describing them as a “colonialist threat”.
US President Donald Trump.
In Hong Kong, authorities said the official death toll has risen to 146 after the apartment complex blaze, after more bodies were found, while another 100 were still unaccounted for, the AP and ABC reported.
Seven of eight buildings of the complex burned in the blaze that started on Wednesday local time. Officials had since ordered the immediate suspension of work on 28 building projects undertaken by the same contractor.
"The Building Department's decision to temporarily suspend the works on the 28 projects managed by PC&E was due to a lack of confidence in its ability to ensure site safety," the government said.
In China, manufacturing activity edged higher in November but remained stuck in contraction for the eighth consecutive month, according to official data, CNBC reported.
The manufacturing index rose to 49.2, up just 0.2 points from October. That was in line with expectations but remained below the crucial 50-point mark. The data suggested supply and demand had improved modestly last month.
Airbus A320.
Thousands of Airbus planes are returning to service after being grounded following a global warning that solar radiation could interfere with the onboard computers, the BBC reported.
About 6000 A320 planes had been affected, including in New Zealand, with most requiring a quick software update, while about 900 older planes require a replacement computer.
In Italy, the Borromeo family is listing its real estate holdings, including a group of islands on Lake Maggiore, to turn the area into a tourism and business hub to rival Lake Como, Bloomberg reported.
They plan to use proceeds from the listing of Kaleon SpA to develop the area and transform their business into a platform to oversee other historic and artistic sites. Kaleon is in discussions with owners of other sites in the Veneto region and in Switzerland.
Kaleon will debut trading this week with a market capitalisation of €56.5 million. Private equity firm Investindustrial will be the anchor investor and retain a minority stake in the company.
