The International Air Transport Association (IATA) has sharply cut its profit outlook for the global airline industry, citing disruptions linked to the Middle East conflict. Airlines are now expected to post a net profit of $23 billion in 2026, while Middle East airlines are likely to post $4.3 billion loss, it said.
South Korea’s inflation rose to a 26-month high in May, reaching 3.1 per cent year-on-year. The increase was driven mainly by higher fuel costs amid volatility in global energy markets, according to Statistics Korea.
Swedish conglomerate Alfa Laval has appointed Alban Hohmann‑Schauly as its new Vice President of Energy unit for the Middle East, South & East Africa region. With over 16 years global experience in the energy and digital infrastructure, Alban has built a strong track record in market analysis and customer segmentation.
Arabian Construction Company Group has appointed Eric Savage as its new Chief Technology Officer (CTO). In this role, Savage will lead ACC’s technology strategy, overseeing enterprise systems, cyber security, IT infrastructure, data initiatives and digital innovation across the business.
Mattel, an American multinational toy manufacturing and entertainment company, has appointed Tarek Moussawer as its new Commercial Lead for Middle East region. An industry veteran, he brings over 20 years of experience across retail, finance, brand building and commercial strategy to the new role.
Leoron Institute, a leading corporate training and EdTech provider in the Europe, Middle East and Africa region, has appointed one of its founding members, Lule Bunjaku Karapinar, a Macedonian national, as the new CEO for Gulf Markets and Executive Education section based in Dubai.
The Middle East retail real estate industry leaders are set to rethink the operating models as the forces reshaping the retail sector are converging faster than most operators recognise, said an industry expert, addding traditional space-centric models are no longer sufficient for what lies ahead.
Dubai Duty Free has been named Best Duty Free Shopping in the Middle East for the 25th consecutive year at the Business Traveller Middle East Awards, held at the Intercontinental Hotel, Dubai Festival City.
flydubai, the Dubai-based carrier, received the “Airline with the Best Connectivity in the Middle East” award for the third time at the Business Traveller Middle East Awards 2026.
Syria recorded nearly 12,000 overflights in May after airlines altered their routes across the region to avoid airspaces affected by recent regional developments.
