
US tariffs show 'no negative impact' at DXB, says Paul Griffiths
Emphasising DXB's resilience, he said: "One thing we have always noticed about DXB is that if there is a bit of an interruption in demand in one market, it is compensated by demand increasing in another market."
In an interview with Dubai Eye 103.8's Business Breakfast show, Griffiths said that one airline has experienced the opposite of the expected impact.
At Emirates Airline, Chief Commercial Officer Adnan Kazim confirmed that while the airline continues to monitor the situation closely, it has yet to see any significant impact from tariff-related tensions.
Still, both leaders acknowledge the uncertainty that lies ahead. With the global situation evolving rapidly, it's too early to make firm predictions about the long-term effects on aviation.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Gulf Today
2 days ago
- Gulf Today
Wall Street, dollar firm ahead of a big week for market risk
Wall Street and the dollar firmed on Friday as investors girded themselves for the week ahead, which includes a Federal Reserve policy meeting, crucial corporate results and US President Donald Trump's August 1 deadline for negotiating trade deals. 'Some deals will be done and talks will continue, and Trump may push out the deadline further,' said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. 'Trump's process is to shock and then be reasonable in terms of tariffs.' All three indexes were modestly green in early trading, and were on course for weekly gains. Gold lost some shine, pressured by the dollar as healthy risk appetites lured investors away from the safe-haven metal. With Trump's negotiating deadline just a week away, the US and its trading partners are scrambling to reach trade agreements, with European negotiators heartened by the deal with Japan announced on Tuesday. Intel's shares INTC.O dropped 8.8% after the chipmaker forecast steeper-than-expected quarterly losses and said it had halted or scrapped new factory projects in the US and Europe. More than a third of the companies in the S&P 500 have posted results, 80% of which have beaten estimates, according to LSEG data. Analysts now expect year-on-year second-quarter earnings growth of 7.7%, compared with the 5.8% estimate as of July 1. Four members of the Magnificent 7 group of Artificial Intelligence-related megacap stocks - Amazon, Apple , Meta and Microsoft are on next week's earnings docket, and market participants will scrutinize the companies' conference calls for signs that AI expenditures are beginning to pay off and whether tariff-related uncertainties continue to weigh on forward guidance. US economic data released on Friday showed an unexpected decline in new orders for core capital goods, as companies hold back on big ticket purchases amid the fog of ongoing trade talks. The Fed is expected to convene next week for its two-day monetary policy meeting, which is expected to culminate in a decision to let its federal funds target rate stand in the 4.25% to 4.50% range. The meeting comes at a moment in which Fed Chair Jerome Powell is facing criticism from Trump for not cutting rates. 'I don't expect Powell to change what he does, nor should he,' Ghriskey added. 'The idea of lower interest rates should scare us because Fed has had this huge job of bringing down inflation, and to ease rates at this point is clearly going to be inflationary.' The Dow Jones Industrial Average rose 113.54 points, or 0.25%, to 44,806.30, the S&P 500 rose 16.19 points, or 0.26%, to 6,379.67 and the Nasdaq Composite rose 44.40 points, or 0.21%, to 21,102.36. European shares gave back some of the previous session's gains as market participants parsed mixed corporate earnings and awaited developments in the U.S.-EU trade negotiations. MSCI's gauge of stocks across the globe fell 1.01 points, or 0.11%, to 940.34. The pan-European STOXX 600 index fell 0.29%, while Europe's broad FTSEurofirst 300 index fell 5.34 points, or 0.24%. Emerging market stocks fell 10.36 points, or 0.82%, to 1,256.93. MSCI's broadest index of Asia-Pacific shares outside Japan closed lower by 0.95%, to 661.07, while Japan's Nikkei fell 370.11 points, or 0.88%, to 41,456.23. US Treasury yields drifted higher in a subdued trading as investors braced for a data-heavy week, updates on US trade talks, and a Federal Reserve policy meeting. The yield on benchmark US 10-year notes rose 0.2 basis points to 4.41%, from 4.408% late on Thursday. The 30-year bond yield rose 0.5 basis points to 4.9543% from 4.949% late on Thursday. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, fell 0.6 basis points to 3.919%, from 3.925% late on Thursday. The dollar gained strength but remained on course for its biggest drop in a month as investors focused on tariff negotiations and central bank meetings on the calendar for next week. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.28% to 97.72, with the euro down 0.2% at $1.173. Against the Japanese yen, the dollar strengthened 0.4% to 147.57. In cryptocurrencies, bitcoin fell 3.08% to $115,133.22. Ethereum declined 2.63% to $3,641.43. Oil prices softened as investors mulled the global demand outlook and a potential supply increase from Venezuela. US crude fell 0.56% to $65.63 a barrel and Brent fell to $68.91 per barrel, down 0.39% on the day. Gold prices dropped in opposition to the firming dollar, amid growing optimism surrounding U.S.-EU trade talks. Spot gold fell 0.93% to $3,336.52 an ounce. US gold futures fell 0.85% to $3,342.50 an ounce. Canada's main stock index edged higher on Friday, led by technology shares, even as US President Donald Trump suggested the United States may not reach a negotiated trade deal with Canada. The benchmark S&P/TSX Composite Index rose 0.2% to 27,427.78 points, remaining on track for a modest weekly gain. Trump said on Friday that the United States may not reach a trade agreement with Canada, hinting his administration could set a tariff rate unilaterally. Agencies


Al Etihad
3 days ago
- Al Etihad
Wall St opens steady as investors prepare for August 1 deadline
25 July 2025 17:46 (Reuters) Wall Street's main indexes opened steady on Friday following record closes for the S&P 500 and the Nasdaq in the previous session, while investors looked for signs of progress in trade talks as they braced for the August 1 tariff deadline. The Dow Jones Industrial Average rose 63.4 points, or 0.14%, at the open to 44757.28. The S&P 500 rose 6.7 points, or 0.10%, at the open to 6370.01, while the Nasdaq Composite rose 2.0 points, or 0.01%, to 21059.941 at the opening bell.


Zawya
3 days ago
- Zawya
Stocks drop worldwide as investors brace for crucial week
LONDON/TOKYO - Investors cashed out of highly valued global stocks on Friday and the dollar headed for its biggest weekly drop in a month ahead of a crucial week for markets that includes Donald Trump's tariff deadline and key central bank meetings. MSCI's global equity index retreated from an all-time high and was 0.2% lower in early European trading while Japan's Topix index ended the day 0.9% lower after rising to a record on Thursday. Europe's STOXX 600 share index also fell 0.5% in early trade. Ahead of the August 1 deadline for U.S. trade deals with Europe and China, stock markets have been buoyed up by firm U.S. economic data and framed the risk of tariffs hitting growth as a reason to expect Federal Reserve rate cuts. "Higher (U.S.) inflation will, in time, result in weaker demand and weaker investment," UBS Wealth Management economist Dean Turner said. Van Luu, head of solutions strategy, fixed income and foreign exchange at Russell Investments, said he was waiting for a buying opportunity in U.S. Treasuries for this reason. "U.S. data looks astonishingly resilient," he said, but this likely reflected a spending rush before tariffs pushed business input costs and retail sticker prices higher. RISK EVENTS The past week saw U.S. trade agreements with Japan, Indonesia and the Philippines, while deal talks continued with South Korea. Next week brings the next Fed interest rate meeting, the closely watched monthly payrolls report, and earnings from Amazon, Apple, Meta and Microsoft. Trump has kept up pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would. U.S. 10-year Treasury yields were steady at 4.41% while two-year yields, which track monetary policy bets, were also flat at 3.923%. Robust earnings from Google parent Alphabet took Wall Street's Nasdaq to a record high on Thursday but futures trading signalled the tech-heavy index would flatline at the start of cash trading in New York. Contracts tracking the blue-chip S&P 500 index were also flat in early European dealings. The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba's Liberal Democratic Party holds a meeting on the same day. That's after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waited to assess the impact from U.S. tariffs. The euro was steady against the dollar on Friday at $1.1745 , although German government debt sold off, with the yield on benchmark 10-year Bunds up 5 basis points (bps) in early dealings to 2.74%, the highest since March 28 . Japanese government bond yields were steady on Friday at about 1.6%, a level last seen in October 2008, having ratcheted higher on concerns the political scale is tilting more towards fiscal stimulus. This came after big gains for opposition parties backing consumption tax cuts in Sunday's upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, having done the same in lower house elections last October. Gold eased 0.3% to around $3,356 an ounce. Brent crude futures gained 0.7% to $69.65 a barrel.