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ABU DHABI / WAM COP28 President-Designate Dr Sultan Al Jaber convened a CEO roundtable on the sidelines of the UAE Climate Tech forum, bringing together oil and gas, heavy emitting industries, technology providers, bankers and financial institutions to discuss, debate and find tangible solutions to address the urgent need for decarbonisation and emissions reduction. The roundtable follows the call to ...

ABU DHABI / WAM Etihad Cargo, the cargo and logistics arm of Etihad Airways, has achieved a major milestone in its sustainability journey, achieving advanced ratings for key criteria in the BlueSky Sustainability Verification Programme assessment. The carrier was the first Middle Eastern airline to join the programme, which aims to assess, verify and validate the sustainability performance of air ...

BLOOMBERG TUI AG’s summer bookings are approaching pre-pandemic levels, the latest sign that the travel sector is recovering despite high inflation squeezing household budgets. The world’s biggest tour operator said booking volumes were at 96% of 2019 levels, led by demand for travel to Spain, Greece and Turkey. Prices are 26% higher than pre-pandemic levels, the company said. The stock ...

BLOOMBERG Virgin Australia Airlines Pty Ltd is close to paying A$730 million ($494 million) to its private equity owner Bain Capital, months before a possible listing in Sydney, according to a person familiar with the matter. The planned capital return is almost exactly the same size as the amount that Bain paid for Virgin Australia’s equity in 2020, said the ...

BLOOMBERG Beyond Meat Inc seeks to raise as much as $200 million in an equity offering as the plant-based burger maker contends with falling sales and a decline in cash reserves. The company filed a prospectus supplement with the US Securities and Exchange Commission, according to a statement. The proceeds will be used for “general corporate and working capital purposes,” ...

BLOOMBERG A European Union (EU) court toppled Germany’s massive bailout of Deutsche Lufthansa AG at the height of the Covid-19 pandemic, backing Ryanair Holdings Plc’s claims that the package unfairly tilted competition towards its rival. Terms of a €6 billion-euro ($6.6 billion) recapitalisation approved by the European Commission were too favourable to Lufthansa, and demands that Europe’s biggest network carrier ...

BLOOMBERG Pakistan’s Supreme Court ruled that former premier Imran Khan’s arrest by the anti-graft agency was illegal and ordered for the ex-cricket star to be freed from custody, a dramatic about-turn in the ongoing political drama. Khan was presented before the top court for an appeal hearing against his arrest, which has fuelled nationwide protests. Security officials were stationed around ...

BLOOMBERG Turkish presidential contender Muharrem Ince withdrew from Sunday’s election, narrowing the field of rivals to incumbent Recep Tayyip Erdogan and injecting fresh uncertainty into the contest over how his supporters will vote. “I am withdrawing from the race. I am doing this for my homeland,” Ince told reporters in a press briefing in Ankara. He asked for “a vote ...

BLOOMBERG There’s been no significant progress on the Association of Southeast Asian Nations’ (Asean) five-point peace proposal for Myanmar that would include ending violence and committing to free elections, according to Indonesia President Joko Widodo. “Asean unity is needed to formulate the way forward,” Indonesia’s leader said as the two-day summit wraps up in the island of Labuan Bajo. “But ...

BLOOMBERG Armed with well over $30 billion in weapons freshly supplied by its allies, Ukraine is gearing up for a counteroffensive that may push Russia closer to ending its war, or show neither side has enough firepower to seize the advantage. Kyiv’s troops will leverage that hardware — shipments delivered since December that cost more than any North Atlantic Treaty ...