Air France cancels flights to Middle East amid heightened tension
Air France said on Monday that it is canceling its flights to the Middle East amid ongoing tension.
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Arab News
36 minutes ago
- Arab News
Pakistan extends airspace closure for Indian aircraft until July 23
ISLAMABAD: Pakistan has extended for the second time its airspace ban on Indian aircraft until July 23, the Pakistan Airports Authority (PAA) said on Monday, citing continued tensions between the two countries. The restriction was first imposed on Apr. 24 as part of a series of tit-for-tat measures announced by both India and Pakistan, days after an attack in Indian-administered Kashmir. India blamed Pakistan for the assault that killed 26 tourists, Islamabad denied the allegation and called for a credible international probe into the incident. Both countries later engaged in a four-day military conflict in May. 'The ban on Indian aircraft from entering Pakistani airspace has been extended by one month,' the PAA said in a statement. 'Pakistani airspace will remain closed to Indian aircraft until July 23, 2025.' The ban applies to passenger and military aircraft operated by Indian airlines, according to the PAA. A Notice to Air Missions (NOTAM) has also been issued in this regard. 'Any aircraft registered in or leased by India would also be prohibited from using the Pakistani airspace,' the authority added. Pakistan had previously extended the ban till June 24. It has forced Indian airlines to reroute their flights, resulting in increased fuel consumption, longer travel times and higher operational costs. Air India, which operates numerous flights to Europe and North America, estimated in May that the airspace ban could lead to approximately $600 million in additional expenses over the course of a year and requested compensation from the Indian government.
Argaam
an hour ago
- Argaam
Perfect Weight gets CMA nod for 15% stake sale on Nomu
The Capital Market Authority (CMA) approved today, June 23, the application submitted by Perfect Weight Trading Co. to register and offer about 451,500 shares, on the Nomu -Parallel Market. The stake represents 15% of the company's total share capital, the market regulator said in a statement. The offer will be only for qualified investors as defined in the list of terms used in the regulations and rules of the CMA. The prospectus will be published well in advance of the offering's start date. The CMA's approval is valid for six months from the date of the resolution. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period. Perfect Weight is specialized in diet plans, natural products and sports nutrition supplements. It has more than 120 stores in the Kingdom, according to the company's website.
Al Arabiya
an hour ago
- Al Arabiya
F1 owner Liberty Media finally set to seal deal to take control of MotoGP after European approval
Formula 1 owner Liberty Media is finally set to complete a deal to take control of motorcycle racing series MotoGP after receiving approval from the European Commission. Liberty Media said Monday the unconditional approval was the last step in completing the deal to buy 84 percent of Spain-based MotoGP rights holder Dorna Sports. 'MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile,' Liberty Media president and CEO Greg Maffei said in a statement. 'We believe the sport and brand have significant growth potential, which we will look to realize through deepening the connection with the core fan base and expanding to a wider global audience.' Liberty said the deal, which was first announced in April 2024, could go through by July 3. The process was held up in December when the European Commission opened what it called an 'in-depth investigation' into whether the agreement would hike the cost of broadcast rights for motorsports events. Dorna chief executive Carmelo Ezpeleta remains in charge of MotoGP, but Liberty said he will be joined on the Dorna board by Chase Carey and Sean Bratches, two veterans of Liberty's takeover of F1 in 2017. They were part of its efforts to grow and modernize F1 as a business, especially in the US.
