MILAN / WAM Investopia Europe, which was launched in the Italian trade capital Milan, witnessed the signing of a memorandum of understanding (MoU) between the UAE-based Sharaf Group and the Italian SMAG for cooperation in the field of logistics and shipping services. The MoU is the first partnership facilitated by Investopia Europe during the visit of a high-level UAE delegation ...

ABU DHABI / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, today arrived in the Malaysian capital Kuala Lumpur on an official visit. HH Sheikh Khaled was received by His Royal Highness Prince Hassanal Ibrahim, Crown Prince of Pahang; and YB Dato’ Seri Diraja Dr Zambry bin Abd Kadir, the Honourable Minister ...

ABU DHABI / WAM Under the patronage of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the 32nd edition of the Abu Dhabi International Book Fair (Adibf) commences on Monday at the Abu Dhabi National Exhibition Centre (Adnec). Organised by the Abu Dhabi Arabic Language Centre (ALC), part of the Department of Culture and Tourism — Abu Dhabi (DCT ...

BLOOMBERG  EasyJet Plc is benefiting from higher ticket prices heading into the peak summer season as the low-cost carrier sets plans to capture a bigger share of the post-pandemic rebound in air travel. Revenue per seat, which includes extras such as baggage fees, is running 20% above year-earlier levels, the UK airline said as it reported better-than-expected first-half results. Leisure ...

BLOOMBERG  Singapore Airlines Ltd will pay staff a bonus of around eight months’ salary after posting a record annual profit. Eligible staff will be paid a profit-sharing bonus equivalent to 6.65 months’ pay, and a maximum of 1.5 months’ salary of ex-gratia bonus in recognition of their hard work and sacrifices during the pandemic, a spokesperson for the airline said. ...

BLOOMBERG  IndiGo reported fourth-quarter profit that missed analysts’ estimates, as rising fuel costs offset the post-Covid travel rebound at India’s largest airline. Net income at parent company InterGlobe Aviation Ltd was 9.16 billion rupees ($111 million) in the period ended in March, short of the 16.2 billion rupees expected by analysts. Revenue from operations surged 77% to 141.6 billion rupees ...

BLOOMBERG  WestJet Airlines Inc, Canada’s second-largest carrier, has begun parking most of its Boeing 737 and 787 jets as it prepares for a possible strike by pilots. The move comes ahead of what is normally a busy holiday long weekend for travel in Canada. Although talks are continuing, the Calgary-based carrier has been unable to reach an agreement with pilots ...

BLOOMBERG  Ukrainian President Volodymyr Zelenskiy suggested his country was losing control of Bakhmut after months of fierce fighting but downplayed Russian claims it now fully occupied the eastern city. “Today our people are performing an important task — they are in the Bakhmut, Zelenskiy said in Japan where he had met with leaders from the Group of Seven nations and ...

BLOOMBERG  US President Joe Biden said he expected ties with China to improve “very shortly” after a spat over an alleged spy balloon earlier this year derailed relations. Speaking to reporters on Sunday at the end of the Group of Seven (G-7) summit in Japan, Biden said the US’s move to shoot down a “silly balloon that was carrying two ...

BLOOMBERG  US bank deposits fell for a third week to the lowest level in nearly two years, extending a yearlong slide as customers continue seeking higher returns in money-market funds. Lending was little changed. Deposits at commercial banks decreased by $26.4 billion in the week ended May 10 to $17.1 trillion, according to seasonally adjusted data from the Federal Reserve. ...