Bloomberg Discussion on the future of cash-strapped Alitalia entered a crucial phase, as talks with European authorities resumed, an early test of Italian Prime Minister Mario Draghi’s relationship with Brussels. The Italian government and the European Commission agreed to “work constructively together to find workable solutions on the Alitalia file,” a Commission spokesman said after Commission Vice President Margrethe Vestager ...

Bloomberg Airbus SE suffered a surge in order cancellations last month as Norwegian Air Shuttle ASA scrapped narrow-body jet purchases and a wave of coronavirus lockdowns pushed back expectations for a revival in air travel. The European planemaker lost 92 commitments in February, it said in a statement, 88 of them from the Scandinavian discounter, which is seeking to restructure ...

Bloomberg Mauritius has stopped inbound commercial flights, until further notice, after six local Covid-19 cases were detected over two days, Health Minister Kailesh Jagutpal said. The objective of the move is to free up space for people to be placed in quarantine following a contact-tracing process, Jagutpal told reporters in the capital, Port Louis. The suspension of flights would provide ...

Bloomberg Europe’s vaccine blunders are alarming some of the world’s top investors, who see economic growth imperiled by a slow pace of business re-openings. While the region’s stocks are riding the global rally and faring well against the selloff in US big tech, prolonged lockdowns threaten the economic recovery. Investors are taking notice. European equity funds have recorded three weeks ...

Bloomberg Saudi stocks climb the most in the Gulf, tracking a surge in oil prices after Opec+ shocked the markets with a decision to keep supply in check. Aramco advanced the most in five months. The Tadawul All Share Index rises as much as 1.4%, extending gains this year to 7.9%. Saudi Basic Industries, Saudi Aramco and Al Rajhi Bank ...

Bloomberg The Nasdaq 100 Index capped a third straight week of declines that shaved off $1.6 trillion in market value from high-flying technology stocks amid a rise in US Treasury yields. The slump eased as benchmark rise alongside S&P 500 Index, gaining 1.6%. Still, Nasdaq ended the week 1.9% lower, marking the longest streak of declines since September. “Higher interest ...

KHARTOUM / WAM The Emirates Red Crescent (ERC) continues to provide additional humanitarian aid to those affected by floods which swept through a number of Sudanese states last year, as part of its efforts to address the repercussions of the disaster that is still affecting people in some areas. In this context, the ERC dispatched three new aid convoys to ...

RIYADH / WAM The Coalition Forces to Restore Legitimacy in Yemen on Saturday morning intercepted and destroyed two bomb-laden UAVs launched “systematically and deliberately” by the terrorist Houthi militia to target civilians and civilian objects in Khamis Mushait and Jazan. The Saudi Press Agency quoted Spokesperson Col. Turki Al Maliki as saying that these are the 7th and 8th bomb-laden ...

Bloomberg The European Union (EU) and the US agreed to suspend tariffs on billions of dollars of each other’s products, easing a 17-year transatlantic dispute over illegal aid to the world’s biggest aircraft makers. President Joe Biden and European Commission President Ursula von der Leyen agreed to the move on a call, the commission said in a statement. “This suspension ...

Bloomberg Malaysian budget airline AirAsia Group Bhd. said it is seeking to launch a flying-taxi business as soon as next year. “We are working on that right now,” Tony Fernandes, the company’s chief executive officer and co-founder, said. “I think we are about a year and a half away from launching.” Fernandes was speaking in an online discussion as part ...