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Jeff Bezos sold Amazon shares worth about $737mln in June

Zawya11 hours ago
Amazon founder and executive chair Jeff Bezos sold shares worth almost $737 million in the e-commerce giant in late June, according to a regulatory filing on Tuesday.
Bezos, who founded Amazon in 1994, sold 3.3 million shares for $736.7 million, after adopting a 10b5-1 trading plan in March, showed the filing, made after the market closed.
After the sale, Bezos will own about 905 million Amazon shares. He sold stock worth almost $5 billion last year.
Bezos married journalist Lauren Sanchez on Friday evening during a star-studded wedding extravaganza in Venice. He is ranked the fourth-richest person in the world with a net worth of $234.4 billion, according to Forbes. (Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
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Air Arabia launches daily Sharjah-Prague flights starting December 2025
Air Arabia launches daily Sharjah-Prague flights starting December 2025

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Air Arabia launches daily Sharjah-Prague flights starting December 2025

Air Arabia, the Middle East and North Africa's first and largest low-cost carrier operator, will begin non-stop flights between Sharjah and Prague from December 20, 2025. The service will operate daily between Sharjah International Airport and Václav Havel Airport Prague, connecting the UAE with the Czech Republic's capital. Adel Al Ali, Group Chief Executive Officer of Air Arabia, said: 'We are pleased to expand our European network with the launch of our new flights to Prague, a city known for its stunning architecture, vibrant history and strong tourism appeal. This new route reflects our ongoing commitment to offering our customers more travel choices while supporting trade and tourism between both countries.' Air Arabia expands European network The Prague route expands Air Arabia's European network, which includes Vienna, Athens, Krakow, Warsaw (Chopin and Modlin), and Milan Bergamo. The airline operates direct flights from Sharjah to destinations across the Middle East, North Africa, Asia and Europe. Prague attracts visitors throughout the year with its architecture, arts scene and landmarks. The city offers experiences for travellers seeking culture and history. Passengers can book flights between Sharjah and Prague through the airline's website, call centre, or travel agencies. Air Arabia operates Airbus A320 and A321 aircraft. The airline provides 'SkyTime', its in-flight streaming service, and 'SkyCafe', its onboard menu. Passengers can join 'Air Rewards', the loyalty programme available in the region.

Building local value through skills development at the Learning and Knowledge Development Facility (LKDF) Forum 2025
Building local value through skills development at the Learning and Knowledge Development Facility (LKDF) Forum 2025

Zawya

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  • Zawya

Building local value through skills development at the Learning and Knowledge Development Facility (LKDF) Forum 2025

The United Nations Industrial Development Organization (UNIDO), through its Learning and Knowledge Development Facility (LKDF) and with the support of the Swedish International Development Cooperation Agency (Sida), convened the LKDF Forum 2025 under the theme 'Skills Development and Local Value Addition: Ensuring Sustainable Growth in Global Supply Chains.' The Forum took place both online and in-person at the World of Volvo in Gothenburg, Sweden. Achieving sustainable, ethical supply chains requires transforming industrial processes, business relations, and workforce skills, with local value addition key to reducing dependency on external inputs and boosting resilience. For emerging markets, building local capabilities diversifies economies and creates jobs; for multinationals, localizing supply chains offers market growth, risk mitigation, and regulatory compliance. UNIDO's Director General Gerd Müller opened the event by calling for greater investment in skills for responsible, future-oriented supply chains, declaring "To build competitive and resilient supply chains with more local value addition, more high value manufacturing and services, more market access, [and] more prosperity, skills development is absolutely key." Maria Tegborg, Acting Head of the Global Department of Sida, echoed this message, underscoring the role of technical and vocational education and training (TVET) in bridging skills gaps and improving economic outcomes, stating 'we must continue to invest in skills development to ensure that supply chains operate responsibly.' The Forum highlighted how localizing skills and competencies across value chains—particularly in manufacturing, energy, healthcare, and industrial processing—is key to enabling multinational corporations and developing countries to thrive. UNIDO's Virpi Stucki stressed the need for systemic approaches to workforce development, explaining that strong policy frameworks and transparent supply chains must support sustainable value addition. 'When combined with strong policy direction and stakeholder engagement along the way, developing the labour force can be a continuing input into national benefit,' she noted. Anchoring programs in local priorities and ambitions was also a recurring theme. Enabel's Charlotte Vanstallen stressed, 'It all starts, I think, with the local objective and the local focus and the [local] ambition... it cannot be mentioned enough.' Participants agreed that without a strong local perspective, initiatives risk being ineffective or unsustainable. Early engagement of local stakeholders and tailoring programs to community needs make efforts more demand-driven, effective, scalable, and foster stronger ownership and lasting impact. 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The Forum welcomed 37 in-person participants and 231 online attendees, from public and private sectors, civil society, academia, and international organizations. Among the distinguished participants were representatives from the Swedish International Development Cooperation Agency (Sida), the European Commission, the African Union Development Agency-NEPAD, the African Development Bank Group (AfDB), the World Trade Organization (WTO), the Volvo Group, Siemens Healthineers, Enabel, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Festo Didactic, and numerous Swedish and international companies representing a wide range of global value chains. The first day of LKDF Forum 2025 concluded with a strong call to action: align national industrial policies with education and training reforms, strengthen cooperation at regional and global levels, and place local communities at the centre of development strategies. Participants were united in the view that sustainable industrialization will depend on holistic, inclusive, and partnership-based approaches to skills development and value addition. The second day of the LKDF Forum 2025 featured a co-creation workshop facilitated by UNIDO's LKDF team in partnership with the Volvo Group. Participants from public, private, and development sectors engaged in strategic discussions aimed at fostering actionable, cross-sector collaboration to strengthen skills ecosystems. This interactive session enabled meaningful exchanges and connections among attendees, laying the groundwork for future partnerships across industries and generating thirteen new PPDP project ideas. The day continued with a guided visit to the Volvo Trucks Experience Facility, where participants learned about Volvo's history, explored the latest innovations in truck manufacturing, and even had the opportunity to test drive several vehicles. Distributed by APO Group on behalf of United Nations Industrial Development Organization (UNIDO).

Futures muted as Trump tariff deadline looms, payrolls data awaited
Futures muted as Trump tariff deadline looms, payrolls data awaited

Zawya

time4 hours ago

  • Zawya

Futures muted as Trump tariff deadline looms, payrolls data awaited

Wall Street stock index futures were subdued on Wednesday as investors weighed U.S. trade negotiations ahead of President Donald Trump's July 9 tariff deadline and awaited payrolls data for hints on the monetary policy path. The Nasdaq and the S&P 500 closed lower in the previous session, pausing after a record run driven by optimism about the U.S. striking trade deals with its key partners as well as expectations of deeper interest-rate cuts to come. Trump said on Tuesday he was not thinking of extending the July 9 deadline for imposing tariffs and expressed doubts that an agreement could be reached with Japan, although he said he expected a deal with India. The European Union's trade chief is expected to hold talks this week with peers in Washington. Tech stocks came under selling pressure a day earlier as Treasury yields climbed after data showed stronger-than-expected job openings in May, signaling a resilient labor market and underlining the U.S. Federal Reserve's stance of being patient about lowering borrowing costs. "For now, the most reasonable scenario is that inflation will start to rise, and the data is pointing in that direction. That message is finally — if slowly — sinking in, even among some of the Fed doves," said Ipek Ozkardeskaya, senior analyst, Swissquote Bank. Traders are pricing in about 64 basis points worth of rate cuts this year from the Fed, with the odds of the first reduction in July at 19.1%, according to data compiled by LSEG. Focus now turns to the monthly non-farm payrolls report, scheduled for release on Thursday - a day earlier than usual, as markets are closed on Friday for Independence Day. The reading is expected to show U.S. job growth cooled in June and the unemployment rate ticked up to 4.3%, according to a Reuters poll of economists. ADP's private payrolls data for June is due at 08:15 a.m. ET. Meanwhile, U.S. Senate Republicans passed Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending, while adding $3.3 trillion to the national debt. The legislation now heads to the House of Representatives for possible final approval, although a handful of Republicans have already opposed some of the Senate provisions. By 7:00 a.m. ET (1100 GMT), S&P 500 E-minis were up 4.75 points, or 0.08%, Nasdaq 100 E-minis were down 12.25 points, or 0.05%, and Dow E-minis were up 79 points, or 0.18%. The blue-chip Dow closed 1.3% below its record high touched in December. Among single stocks, Centene tumbled 26.6% premarket after the health insurer said it had withdrawn its 2025 earnings forecast after data showed a significant drop in expected revenue from its marketplace health insurance plans. Shares of peers including Elevance Health and UnitedHealth dipped 3.7% and 1.1%, respectively. U.S. banking giants including JPMorgan Chase, Bank of America and Wells Fargo edged higher after announcing plans to raise their third-quarter dividends after clearing the Fed's annual health check last week. Verint Systems soared 10.8% after Bloomberg News reported buyout firm Thoma Bravo was in talks to buy the call-center software maker. (Reporting by Sruthi Shankar in Bengaluru; Editing by Devika Syamnath and Pooja Desai)

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