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BLOOMBERG Deutsche Lufthansa AG said first-quarter earnings at its air cargo division fell as global freight rates declined, denting a continued recovery in demand for summer tourism travel. Adjusted earnings before interest and taxes at the cargo division fell to €151 million ($166 million) in the period, down from €495 million for the same period a year earlier, the airline ...

BLOOMBERG Go Airlines India Ltd’s slide into bankruptcy has left travellers frustrated and confused, with many worried about how expensive re-booking tickets may be against the spiralling cost of air fares. The airline, majority owned by billionaire Nusli Wadia’s Wadia Group, is the latest to go under in one of the world’s fastest-growing aviation markets. It blames its fate on ...

BLOOMBERG European stocks dropped as investors turned their focus towards a rates decision by the European Central Bank (ECB) after a quarter-point hike by the Federal Reserve. US regional lenders slumped on renewed worries about financial stability. Most industry groups were in the red in Europe, with energy a bright spot after Shell Plc posted strong quarterly profit and maintained ...

BLOOMBERG Earnings estimates for Indian firms may be slashed by about 40% this fiscal year and next due to a host of global and domestic risks, according to Bank of America Corp (BofA). Consensus estimates for NSE Nifty 50 companies are lofty and haven’t moderated despite a weak outlook for software firms, analyst Amish Shah wrote in a note. Estimates ...

LONDON / WAM Gold prices traded near record-high levels on Thursday, as US yields and the dollar dipped after the US Federal Reserve hinted it might pause its rate-hike cycle, Reuters reported. Spot gold was up 0.1% at $2,040.46 per ounce by 0249 GMT. Earlier in the session, prices rose to $2,072.19 per ounce and hovered close to an all-time ...

SHARJAH / WAM H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in the presence of his wife, H.H. Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of the Board of Directors of BEEAH Group, approved the joint “Jawaher Boston Medical District” project between BEEAH Group, “Mass General Brigham Hospitals Network,” and “Dana-Farber Cancer Institute,” ...

DUBAI / WAM H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, on Wednesday met with Ahmed bin Mohammed Al Sayed, Minister of State and Chairman of the Board of Directors of the Qatar Free Zones Authority, on the sidelines of the closing day of the World Free ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a written letter to King Abdullah II of Jordan regarding bilateral relations between the UAE and Jordan. The letter included an invitation to the Jordanian King to participate in the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Andrzej Duda of Poland, on the occasion of his country’s Constitution Day, which is celebrated on May 3. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and His ...

DUBAI / WAM Ahmed Jasim Al Zaabi, the Chairman of Abu Dhabi Department of Economic Development (Added), has attributed Abu Dhabi’s success to continuous evolution, diversification, and sustainable growth. Speaking at the Oracle CloudWorld Abu Dhabi, he emphasised their focus on knowledge, innovation, and long-term sustainability as the pillars of Abu Dhabi’s Falcon Economy. Abu Dhabi’s transformation into a global ...