NEW DELHI/MUMBAI: The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline. Jet, which previously had a fleet of around 120 largely Boeing Co planes,
NEW YORK: Even as the lift from optimism over prospects for US-China trade detente shows signs of wearing off for the wider US stock market, upbeat sentiment around China’s economy could bolster shares of materials companies. Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s
COLOMBO: Sri Lankan police are trying to track down 140 people believed linked to Islamic State, which has claimed responsibility for the Easter Sunday suicide bombings of churches and hotels that killed 253 people, President Maithripala Sirisena said yesterday. Muslims in Sri Lanka were urged to pray at home and
MAPUTO / MORONI: Cyclone Kenneth battered northern Mozambique on Thursday with gusts of up to 280km per hour after killing three people on the island nation of Comoros overnight. Impoverished Mozambique is still recovering from another powerful tropical cyclone which made landfall further south last month, flattening the port city
TRIPOLI: The United Nations on Thursday evacuated more than 350 migrants from a detention centre in southern Tripoli where a fierce battle raged as fighters from rival Libyan camps traded rockets and artillery shells. The Libyan National Army (LNA), led by commander Khalifa Haftar, which is allied to a rival
As a new war reached the Libyan capital, businessman Mustafa Iskandar opened an art gallery and cultural center, hoping to draw attention to a long-neglected old city in need of revival. One of the best preserved in North Africa with monuments going back to the Romans, Tripoli’s old city has
LONDON: Britain’s finance minister Philip Hammond began the search for a new governor of the Bank of England yesterday, seeking someone to help steer the world’s fifth-biggest economy, and its global financial centre, through the upheaval of Brexit. Mark Carney, a Canadian, twice extended his term in charge of the
WASHINGTON: Sales of new US single-family homes rose to a near 1-1/2-year high in March, boosted by lower mortgage rates and house prices. The third straight monthly increase reported by the Commerce Department on Tuesday suggested some recovery was under way in the housing market, which hit a soft patch
SEOUL: South Korea’s Hyundai Motor reported a better-than-expected 24 percent jump in net profit for the January-to-March quarter, as improved business at home and the United States helped offset weaker sales in China. The rise in profit, from an eight-year low hit a year ago, comes after Hyundai recently flagged
TOKYO: Japanese Prime Minister Shinzo Abe’s ruling bloc suffered two rare losses in by-elections on Sunday in an apparent warning from voters not to get complacent ahead of a national election for parliament’s upper house later this year. The defeats in a lower house by-election in Osaka, western Japan, and
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