May, 2023

• 22 May

  Investors on edge in Asia’s worst-performing market after election

  

  BLOOMBERG  A week after Thailand’s pro-democracy parties garnered an historic win in national elections, investors are getting nervous over the formation of a coalition government. The uncertainty has triggered an outflow of funds since the May 14 poll, worsening the rout in Asia’s worst-performing stock market this year and sending the baht lower against the dollar. While the coalition is ...

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• 21 May

  Sharjah chamber to dispatch trade mission to India on May 29

  

  SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has announced it will be sending a trade mission to India from May 29 to June 02. Led by the SCCI’s Sharjah Exports Development Centre, the initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish promising partnerships between the emirate of Sharjah and India. Abdullah ...

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• 21 May

  UAE’s Sharaf, Smag ink deal in shipping & logistics services

  

  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 ...

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• 21 May

  Khaled bin Mohamed bin Zayed arrives in Malaysia on official visit

  

  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 ...

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• 21 May

  Under the patronage of UAE President, 32nd Abu Dhabi International Book Fair commences

  

  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 ...

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• 21 May

  EasyJet sees summer boost from rising fares, add-ons

  

  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 ...

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• 21 May

  Singapore Air hands staff eight months’ salary bonus

  

  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. ...

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• 21 May

  India’s biggest airline posts profit short of expectations

  

  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 ...

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• 21 May

  Canada’s WestJet cancels flights ahead of holiday weekend

  

  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 ...

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• 21 May

  Zelenskiy signals Bakhmut falling

  

  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 ...

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