Wizz Air to exit Abu Dhabi operations
Wizz Air will focus on its core Central and Eastern European markets, as well as countries such as Austria, Italy and the UK, it said.
"Supply chain constraints, geopolitical instability, and limited market access have made it increasingly difficult to sustain our original ambitions," Wizz Air CEO Jozsef Varadi said in a statement.
"While this was a difficult decision, it is the right one given the circumstances," he added.
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Reuters
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- Reuters
Lebanon bans dealing with Hezbollah financial entity
BEIRUT, July 15 (Reuters) - Lebanon's central bank has banned banks and brokerages from dealing with a Hezbollah-affiliated financial institution, according to a circular, a sign of the group's diminished sway over state affairs since its devastating war with Israel. Keeping up military pressure on the Iran-backed group, Israel on Tuesday launched some of its heaviest airstrikes since a ceasefire in November, saying it hit training camps and weapons depots in eastern Lebanon. A security source in Lebanon said 12 people were killed, five of them Hezbollah fighters. Hezbollah has faced mounting pressures since the war, including financial ones. In the circular, dated Monday and reviewed by Reuters, Banque du Liban prohibited all licensed financial institutions in Lebanon from dealing directly or indirectly with unlicensed entities and listed Hezbollah's Al-Qard Al-Hassan as an example. U.S. Special Envoy Thomas Barrack described the move in a post on X on Tuesday as a "step in the right direction." The ban follows a visit by the U.S. envoy to Beirut last week, where he received Lebanon's reply to a U.S. proposal on disarming Hezbollah. "Transparency and alignment of all financial intermediaries in Lebanon under the supervision of the Central Bank is a valued and necessary accomplishment," he said. The U.S. Department of the Treasury imposed sanctions on Al-Qard Al-Hassan in 2007, saying Hezbollah used it as a cover to manage "financial activities and gain access to the international financial system." Bolstered by its powerful arsenal, Hezbollah had long exercised decisive influence over Lebanese state affairs, but it was unable to impose its will in the formation of a post-war government in February. Al-Qard Al-Hassan, founded in 1983, describes itself as a charitable organisation that provides loans to people according to Islamic principles that forbid interest. Israel struck some of its branches during its war with Hezbollah last year. Operating as a not-for-profit organisation under a licence granted by the Lebanese government, it has more than 30 branches, mostly in predominantly Shi'ite Muslim areas of Beirut, southern Lebanon, and the Bekaa Valley. A Lebanese official said the central bank move had been in the works for months, and reflected U.S. pressure on Lebanon to take action against Hezbollah's financial wing. Nassib Ghobril, chief economist at Byblos Bank, said Lebanese banks were already careful to avoid dealing with Al-Qard Al-Hassan because it is under U.S. sanctions. "The important point is that finally the authorities are addressing the shadow economy in Lebanon, which is the real problem," he said, adding that authorities had long failed to address its "toxic effects". In June, the European Commission included Lebanon in an updated list of high-risk jurisdictions presenting strategic deficiencies in their national anti-money laundering and countering the financing of terrorism. Last year, global financial crime watchdog FATF placed Lebanon on its "grey list" of countries under special scrutiny.
Reuters
an hour ago
- Reuters
JPMorgan CEO Dimon's comments highlight steady caution on US economy
July 15 (Reuters) - JPMorgan Chase (JPM.N), opens new tab CEO Jamie Dimon has maintained a cautious stance on the U.S. economy for several quarters now and said on Tuesday accurate forecasts are a challenge because key shifts are apparent only in hindsight. While the longtime CEO expressed optimism about the health of the consumer, he reiterated concerns about tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices. The bank remains measured when making projections, Dimon said, citing past crises that caught many off guard. "Our forecasting of the future is very complex. You probably heard me say that sometimes it's a complete waste of time. Most people cannot really pick inflection points," he said. Earlier in the year, Dimon had cautioned about the risk of recession, the possibility of credit spreads widening and inflation rising. His comments reflect a broader challenge facing policymakers and markets. While precise economic projections are often challenging because of backward-looking data that is frequently revised, unpredictable factors can throw even seasoned observers off course. A December study by the Federal Reserve Bank of St. Louis examined the Blue Chip Survey of Professional Forecasters, an average of projections from about 50 economists, from 1993 to 2024, and found that actual GDP growth came within the forecast range just 44% of the time. Here is a timeline of Dimon's public comments on the U.S. economy over the past few quarters: Source: Reuters stories, earnings statements
Daily Mail
an hour ago
- Daily Mail
Kylie Jenner shares lesson she taught daughter Stormi about natural beauty while filming makeup tutorial
Kylie Jenner showed off her bare face in a sweet makeup tutorial with daughter Stormi, as she revealed the lesson she taught her little one about natural beauty. The lipkit mogul, 27, shared an adorable video with the seven-year-old on Tuesday as they filmed a 'get ready with me' while vacationing in Greece. During the clip, Kylie — who was using Kylie Cosmetics products in the video — revealed the crucial natural beauty lesson she imparted to her daughter. 'Mommy always tells you, though, you're the most beautiful without...' she said, trailing off, as Stormi completed the sentence, stating, 'Makeup.' 'Yes,' Kylie — who recently stunned fans with a 'nasty looking' plastic surgery scar from a breast augmentation — responded. 'Our first GRWM together we always make vids together for fun and i never post them but this was just tooooo cute, ' Kylie — who shares Stormi and son Aire, three, with ex Travis Scott, 34 — captioned the clip. Timothée Chalamet's girlfriend started out the clip showing off her natural features while wearing a plush cream robe. 'It's Stormi,' Kylie playfully started out the clip, jokingly switching out their names, after Stormi introduced herself as Kylie. 'We're gonna do our first-ever makeup tutorial together,' Kylie went on, revealing that they were going to start with the Kylie Cosmetics Lip Butter. 'Really glossy,' Stormi remarked, after smacking her lips. Stormi then moved on to the blush as Kylie put on her foundation. The proud mom then explained how her little one enjoys makeup. 'Stormi likes to play with my makeup sometimes, but obviously, she doesn't wear makeup yet,' the mom-of-two said. The duo then went on to apply mascara before adding concealer. Stormi then spoke about having fun on the luxury vacation. 'We are in Greece. I love the boat that we were on. I love the food. I love the water. The water's so warm,' she sweetly shared. 'Our first GRWM together we always make vids together for fun and i never post them but this was just tooooo cute, ' Kylie — who shares Stormi and son Aire, three, with ex Travis Scott , 34 — captioned the clip Kylie then asked if Stormi liked 'having sleepovers with Mommy every night' to which she replied 'yes.' Stormi then showed off how she applied 'Mommy's dewy balm' as Kylie laughed and said 'You're so cute.' The two went on to apply blush, with Kylie choosing a mix of Summer Sorbet and Ladybug, and Stormi opting for Cheeky Mood. Kylie then applied her lip liner, as Stormi declared, 'Now, we're just waiting for Mommy to finish!' Earlier this week Kylie shared a video of her and Stormi dancing around in circles on a yacht while wearing robes with towels on their heads. She called her daughter her 'built-in-bestie for life.' She also shared the video to TikTok where she captioned it, 'can't see our haters from here.' She also shared videos of Stormi arriving in Greece. Kylie cheekily captioned that video, 'I want to be her.' Later she posted a video of Stormi going down the huge slide off the yacht into the sea. Kylie's girls' trip included four friends, among them her bestie, 28-year-old Stassie Karanikolaou. She shared a carousel of images earlier on Sunday of her time with the adults on the yacht. 'Greeeece,' the mom of two captioned that update. In the first image, The Kardashians star wore a tiny yellow and black Chanel string bikini as she sat on her knees on the yacht. In another snap, the reality TV star showered off as she climbed back onto the boat after a swim in the sea. Khloé Kardashian commented on her sister's post: 'Are you ever coming home?' Many of Jenner's fans think her A Complete Unknown actor beau Timothee is secretly with her on the yacht vacation. That is because a man in black briefs was spotted resting on a seashore in one of her latest Instagram posts shared on Tuesday. 'That guy on the shore is Timothee,' said one fan on X while another piped up: 'He is secretly with her in Greece, I feel it in my bones.' The couple were last photographed together in St Tropez in the south of France on July 5.
