August, 2023

• 13 August

  Travel giant TUI flags UK challenges

  

  BLOOMBERG TUI AG said it expects its summer 2023 travel season to be close to pre-pandemic levels even as the pace of growth tapers off amid higher inflation and rising interest rates. The world’s biggest tour operator said underlying earnings before interest and tax rose to €169 million ($185 million) in the quarter ended on June 30, its first profitable ...

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• 13 August

  Ryanair says new Italy decree on airfares ‘illegal’

  

  BLOOMBERG Ryanair Holdings Plc senior executive Eddie Wilson said a new decree passed by the Italian government to reduce the impact of rising airfares this summer is illegal. “It’s ridiculous, illegal and goes against free market laws,” Wilson, who is chief executive officer of Ryanair’s main unit, said in an interview with Ansa newswire. If the new package isn’t scrapped, ...

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• 13 August

  Cathay bullish on prospects as profit soars to 13-year high

  

  BLOOMBERG Cathay Pacific Airways Ltd expects its strong recovery from the Covid crisis to continue through the rest of the year after the carrier announced its biggest half-yearly profit since 2010. “We’re extremely pleased with the performance to date,” Chairman Patrick Healy said at a post-earnings media briefing. “We expect to see a solid performance through the rest of the ...

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• 13 August

  Trump takes aim at DeSantis in duel at Iowa state fair

  

  BLOOMBERG Donald Trump and Ron DeSantis faced off with dueling events at Iowa’s state fair, taking their fight for the presidential nomination to the traditional political jamboree while avoiding a direct confrontation. Courting thousands of potential Republican voters, the two candidates didn’t cross paths but their appearances had the feel of a showdown in the crucial first-in-the-nation caucus state. But ...

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• 13 August

  New Zealand’s ruling Labour Party pledges to exempt fruit and vegetables from GST

  

  BLOOMBERG New Zealand’s ruling Labour Party said it will exempt fruit and vegetables from the Goods and Services Tax (GST) if it wins a third term at elections in October. Unveiling the party’s tax policy on Sunday in Wellington, Prime Minister Chris Hipkins also pledged to increase benefits for low-income families that he said would deliver an average of NZ$47 ...

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• 13 August

  Maui fire is US’s deadliest in 105 years, with 89 killed

  

  BLOOMBERG The death toll from fast-moving wildfires in Maui rose to 89 on Saturday, making them the deadliest in the US in more than 100 years. The number of fatalities, which previously stood at 80, is expected to climb further as authorities continue search and rescue efforts, Hawaii Governor Josh Green said at a press briefing. Just 3% of the ...

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• 13 August

  Malaysia’s Anwar wins breathing space in polls

  

  BLOOMBERG Malaysia’s ruling coalition held on to three of six states contested in provincial elections, providing Prime Minister Anwar Ibrahim with breathing space nine months into his mandate. The polls resulted in an even split between parties in Anwar’s unity government and his rival, the pro-Malay Perikatan Nasional, with each bloc winning the three states they controlled before the vote, ...

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• 13 August

  UBS to accelerate Credit Suisse integration as $10bn loss protection agreement ends

  

  BLOOMBERG Five months after being pulled into the rescue of Credit Suisse, UBS Group AG’s decision to break free of a government backstop is set to accelerate the historic takeover of its smaller rival. Switzerland’s biggest bank said it will voluntarily end a safety net negotiated as part of its purchase of Credit Suisse, including a 9 billion-franc ($10.3 billion) ...

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• 13 August

  O! Millionaire hits AED81.5m grand prize, inspires environmental stewardship

  

  DUBAI/ GULF TIME: O! Millionaire, the foremost provider of an environmentally conscious draw, marked a significant milestone in its 64th episode, where the Grand Prize reached a staggering AED81.5 million. The last draw, with hosts Maradona Rebello and special guest Mark Ilano, a prominent Filipino blogger and influencer, added an extra dose of excitement and fun to the event. During ...

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• 13 August

  DCT Abu Dhabi revises hotel fees to foster investment in hospitality sector

  

  ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT – Abu Dhabi) has reduced government fees applied to hotels in the emirate, supporting the continued growth of the hospitality and tourism sector, and enhancing Abu Dhabi as a leading global leisure and tourism destination. The government fee amendments include reducing a tourism fee issued to ...

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