SHARJAH / GULF TIME The “Ramadan Nights 2023” has concluded another successful edition at Expo Centre Sharjah, following 17 days of fantastic promotions, heritage events, and family entertainment experiences. The 40th edition of the exhibition set a new record in terms of exhibitor sales and visitor turnout, with more than 100,000 visitors attending the event, a remarkable 100% increase from ...

PARIS / WAM The UAE National Jiu-Jitsu Team, sponsored by Mubadala Investment Company, got off to an impressive start on day one of the Grand Prix Paris Open 2023, securing six medals, including two golds, at the event organised by the Jiu-Jitsu International Federation. Khaled Al Shehhi and Omar Al Suwaidi shone for the UAE by winning gold in the ...

SHARJAH / WAM Following the resounding success of the inaugural edition of the world’s first International Bookseller Conference in Sharjah, the second annual edition has been announced by the Sharjah Book Authority (SBA) with a stronger, more holistic programme to showcase the learnings and experiences of global ecosystem stakeholders, upskill professionals, and uncover emerging commercial opportunities, particularly in the Arab ...

BLOOMBERG  LVMH is shifting resources out of Hong Kong, reflecting waning interest in what used to be Asia’s premium shopping hub as mainland Chinese consumers switch to shopping at home. The top global luxury conglomerate wants to focus more of its investment in burgeoning metropolises such as Shanghai, Chengdu, Guangzhou and Shenzhen as Hong Kong loses its relevance in the ...

BLOOMBERG  Qantas Airways Ltd plans to hire 8,500 more workers in the next decade, about the same number it cut during the pandemic, underscoring aviation’s growth trajectory less than a year after the crisis. The additional roles include pilots, cabin crew and airport staff. With more than 300 new aircraft arriving in the next 10 years, Qantas also plans to ...

BLOOMBERG  London’s Heathrow Airport asked Britain’s antitrust watchdog to overturn an order by the nation’s aviation regulator to cut airline charges by around 20% per passenger next year. The airport said it had submitted an appeal to the Competition and Markets Authority (CMA) over the Civil Aviation Authority’s (CAA) decision to drop charges for airlines using the travel hub. Heathrow ...

BLOOMBERG  Bed Bath & Beyond Inc filed for Chapter 11 bankruptcy in New Jersey with plans to shut down, putting thousands of jobs on the line. The US housewares retailer will use the court process to begin liquidating its 360 Bed Bath & Beyond stores and 120 Buy Buy Baby shops, while also searching for a buyer for some or ...

BLOOMBERG US bank deposits fell, indicating the financial system remains fragile after a string of bank failures. Deposits decreased by $76.2 billion in the week ended on April 12, according to seasonally adjusted data from the Federal Reserve. The drop was mostly at large and foreign institutions, but they also fell at small banks. Meantime, commercial bank lending rose $13.8 ...

BLOOMBERG ICICI Bank Ltd reported a 30% rise in profit, helped by robust demand for retail loans in the world’s most populous country. Net income climbed to 91.2 billion rupees ($1.1 billion) in the quarter that ended March 31, compared with 70.18 billion rupees a year ago, according to a statement. That beat the average estimate of 90.4 billion rupees ...

BLOOMBERG The Philippine central bank is closely monitoring the peso “for possible spillover impact on inflation amid the global banking stresses” after the currency slid to more than four-month lows this week. Still, the Bangko Sentral ng Pilipinas (BSP) believes that “a freely moving exchange rate is an essential price signal” that allows the economy to respond to global developments, Deputy ...