 Sharjah set to become the business aviation gateway in the UAE as Gama Aviation develops landmark Business Aviation Centre
Gama Aviation has confirmed major progress in the construction of its new Business Aviation Centre (BAC) at Sharjah Airport, a purpose-built facility set to redefine operational efficiency and client experience in the Middle East. Representing a significant multi-million-dollar investment, the project reinforces Gama Aviation’s long-term confidence in the UAE and the wider region, marking an important milestone in the company’s continued expansion of business aviation services across EMEA. “Our investment in Sharjah underlines our confidence in both the emirate and the region’s aviation future,” said Marwan Khalek, Group CEO, Gama Aviation. Scheduled for completion in early 2026, the Business Aviation Centre occupies a site of over 80,000 square metres within the Sharjah International Airport estate. The development supports the emirate’s infrastructure and diversification objectives, aligned with the UAE’s Vision 2030 roadmap for sustainable growth and connectivity. Designed from the ground up Unlike FBOs adapted from existing terminals, the Sharjah BAC has been conceived as a single, integrated ecosystem for owners, operators and crews. Key elements include: VVIP Terminal (3,000 sqm): Contemporary design with private lounges, relaxation suites, observation bar and curated hospitality. Hangar (12,000 sqm): Purpose-built for premium, secure aircraft parking, storage, and line maintenance, incorporating wide-span doors, direct apron access, and capacity for multiple large-cabin jets. Apron and Ground Facilities: Self-manoeuvring apron, dedicated fuelling and ground-support equipment, and integrated MRO infrastructure. Crew Amenities: Rest suites, 24-hour dining, briefing rooms and priority parking adjacent to the terminal. “The Sharjah Business Aviation Centre will set a new benchmark for private aviation in the Middle East and beyond,” said Tom Murphy Services, Gama Aviation. “We are not building this facility to meet expectations—we are designing it to exceed them. Every detail, from terminal flow to hangar layout, has been created around the client experience: faster transitions, greater privacy, and service excellence that defines the next chapter of Gama Aviation’s story.”
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 US hotels are losing $31 million a day due to government shutdown
US: The government shutdown in the United States has cost the hotel industry $650 million in lost business to date, according to a letter sent by industry associations to the House of Representatives and Senate. • Over the past 50 years, there’s been several US government shutdowns. Most lasted a matter of days, although the longest shutdown (35 days) was recorded from December 2018 under President Trump’s first term. Fast forward to the present day and the US government is in its fourth week of another shutdown after Congress failed to pass a funding bill. This means that many, but not all, government services are suspended. At the time of writing, the US Travel Association has estimated that $4 billion in travel spending has been lost since the government shutdown on 1 October. Airports have reduced flights, and of those still in operation, the lack of air traffic controllers has led to huge delays. Consumer confidence has once again been knocked, translating into cancellations and discouraging future planning at a time when the industry typically gears up for the holiday season. In a recent letter to the House of Representatives and Senate, more than 30 hotel trade associations have urged Congress to reach a “speedy agreement”. The American Hotel & Lodging Association estimates that the damage so far has cost the hotel industry $650 million in lost business - around $31 million per day. It leaves millions of staff members facing uncertainty as the industry falls under severe financial strain. Beyond the immediate financial losses, restoring confidence will take far longer than passing a funding bill. It’s critical that policymakers put partisanship aside and prioritise the livelihoods of those which depend on government stability.  What are rare earths, and are they actually ‘rare?’Rare earths include 17 metallic elements in the periodic table made up of scandium, yttrium and the lanthanides. The name “rare earths” is a bit of a misnomer, as the materials are found throughout the Earth’s crust. They are more abundant than gold, but they are difficult and costly to extract and process and are also environmentally damaging. What are rare earths used for? Rare earths are ubiquitous in everyday technologies, from smartphones to wind turbines to LED lights and flat-screen TVs. They’re crucial for batteries in electric vehicles, as well as MRI scanners and cancer treatments. How they are extracted is less transparent and Congo and Sudan are most known source countries in Africa for #conflictminerals where #genocide is also taking place with involvement of different stakeholders reports CNN. Rare earths are also essential for the US military. They’re used in F-35 fighter jets, submarines, lasers, satellites, Tomahawk missiles and more, according to a 2025 research note from CSIS. Where do rare earths come from? Sixty-one percent of mined rare earth production comes from China, according to the International Energy Agency, and the country controls 92% of the global output in the processing stage. There are two types of rare earths, categorized by their atomic weights: heavy and light. Heavy rare earths are more scarce, and the United States doesn’t have the capability to separate rare earths after extraction. “Until the start of the year, whatever heavy rare earths we did mine in California, we still sent to China for separation,” Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, told CNN.  A People-First Shift: Invest Bank Appoints Ali Sajwani as Chief Human Capital Officer
Sharjah, United Arab Emirates, October 30, 2025 — Invest Bank today announced the appointment of Ali Sajwani as Chief Human Capital Officer (CHCO), a move that underscores the bank’s bold commitment to putting people and leadership at the center of its transformation. With over 25 years of experience in financial institutions across the region, Ali brings deep insight into building strong cultures, shaping high-impact leadership teams, and aligning people strategy with performance. He joins Invest Bank at a defining moment, as the institution continues its journey to become more agile, future-fit, and talent-driven. Edris Al Rafi, CEO of Invest Bank, said: “Great institutions are built on great people. Ali’s appointment reflects our belief that human capital is not a function, it’s a force. We are excited to welcome a leader who understands how to unlock potential, drive change, and build a culture that empowers everyone to lead from where they stand.” Ali’s career spans nationalization initiatives, cultural transformation, leadership development, and organizational restructuring, all rooted in a people-first mindset. At Citibank, he helped shape workforce strategies that responded to evolving business needs while reinforcing long-term leadership pipelines. His style is defined by clarity, collaboration, and a focus on measurable impact. In line with this leadership appointment, the bank’s HR function will now formally adopt the name Human Capital, a shift that reflects the strategic value the bank places on people as he drivers of performance, innovation, and resilience. Ali’s appointment is the latest in a series of executive moves designed to strengthen the bank’s foundation, deepen internal capabilities, and ensure the right leadership is in place to support its long-term vision.  French billionaire Bernard Arnault increases control in LVMH. In silence, the founder has bought shares in the luxury conglomerate worth 1.5 billion EUR.
According to Bloomberg, French billionaire Bernard Arnault has long strived to strengthen his ownership in LVMH, the luxury conglomerate that he founded almost four decades ago. Now it turns out that Arnault, who is both CEO and chairman of the board, according to documents filed with the Paris Stock Exchange. The purchases have been made via holding companies and have coincided with LVMH's share price crash during the year. The stock has been under heavy pressure after several weak quarterly reports, where luxury consumers have failed and the important Chinese market has been under economic pressure. - Luxury stocks rise and fall with demand, especially those with exposure to the aspiring middle class. After Covid, we saw a few years of super-consumption where people were euphoric and thought they would rather spend money than die rich, but now people are sobering up, where the cost of living and inflation are taking their toll, Luca Solca, head of the luxury goods sector at Bernstein in London, told EFN a few weeks ago. "Strong conviction" LVMH released its report on October 15, which caused the stock to surge twelve percent on Wednesday after unexpectedly showing a return to growth in the third quarter. According to Bloomberg, Arnault has paid an average of about 566 euros per share, and as low as 448 euros in June, compared with a closing price of 612 euros on Friday. So far this year, Arnault has bought about 2.5 million LVMH shares, equivalent to about 0.5 percent of the company. “What is remarkable is that Bernard Arnault has such a strong conviction about LVMH,” Frédéric Genevrier, an analyst at AlphaValue, told Bloomberg. He believes that the purchases may reflect Arnault’s desire to own an “absolute majority” of the company, even though he already controls almost two-thirds of the voting rights. Arnault’s fortune amounts to $195 billion, according to the Bloomberg Billionaires Index. His stake in LVMH, which constitutes the largest part of his personal assets, amounted to 49 percent of the capital and close to 65 percent of the votes at the end of last year.v European Commission slaps three major fashion brands with €157 million fine
Copyright AP Photo By Peggy Corlin & Una Hajdari Published on 14/10/2025 - 14:24 GMT+2 •Updated 18:29 Share this articleCommentsAn investigation launched in 2023 revealed that Gucci, Chloé and Loewe imposed their own pricing policies on retailers, thereby increasing product prices and reducing consumer choice. Gucci was hit the hardest, with a fine of €119 million.The European Commission on Tuesday fined Gucci, Chloé and Loewe €157 million for preventing their retailers from setting their own prices for products designed and sold by them, reducing competition and thus increasing tariffs and offering consumers less choice — actions in breach of EU antitrust laws. “In Europe, all consumers, whatever they buy, and wherever they buy it, online or offline, deserve the benefits of genuine price competition,” European Commissioner for Competition Teresa Ribera said. “This decision sends a strong signal to the fashion industry and beyond that we will not tolerate this kind of practices in Europe, and that fair competition and consumer protection apply to everyone, equally.” What it means is that the brands have prevented retailers from undercutting the recommended price, running deeper discounts or timing their own sales. This limits the flexibility and price competitiveness between vendors, whether online or in physical stores, and the effective price floor stays high. 00:0002:00 Read More The Commission found all three brands ran schemes that stripped independent retailers of pricing freedom for almost their entire ranges — apparel, leather goods, footwear and accessories. Retailers were told not to deviate from “recommended” prices, cap discounts and stick to brand-dictated sales windows. ADVERTISEMENTIn some cases, discounts were banned outright, while the brands monitored compliance and leaned on resellers who broke ranks. Luxury and high-end brands place a lot of emphasis on the prestige element of their products, with Chloé boots or Loewe bags representing a status symbol for buyers. If the retailers drop the prices on their own, brands can argue that their image is being damaged. Gucci hit the hardestAccording to the EU antitrust watchdog, depriving retailers of their ability to set prices freely reduces competition between them, which violates the EU’s sacred principle of free and undistorted competition in the internal market, the objective being to give European consumers choice. It also increases prices. The Commission’s investigation, which began in 2023 with inspections at companies' premises, also found that Gucci, Chloé and Loewe aimed to protect their own sales from competition by retailers themselves. Gucci alone even went as far as to forbid its retailers from selling a specific line of products online. The Commission decided to crack down on the three fashion brands together, despite their independence, because the illegal practices occurred over roughly the same period — between 2015 and 2023 — and many of the retailers involved sold products from all three brands. Related
Fines were calculated under the EU’s 2006 guidelines, factoring in gravity, duration, geographic scope and the value of sales concerned. All three companies received reductions for cooperating under the Commission’s antitrust procedures, with Loewe and Gucci receiving a 50% lower fine and Chloé getting their fine reduced by 15%. ADVERTISEMENTIn detail, Gucci was doled out the most significant fine of €119 million, followed by Chloe (€19 million) and Loewe (€18 million). Crucially, the rulings also arm consumers and rivals — any person or company harmed can sue for damages in national courts, with the Commission’s final decision serving as binding proof that the behaviour occurred and was unlawful. The EU’s Antitrust Damages Directive eases disclosure and quantification, smoothing the path to compensation. So if you think you paid too much for your Loewe Puzzle Bag at a department store before 2023, consider filing a damages suit to get some of your money back. Hermes third quarter sales rose by five percent to 3.9 billion euros while kering keeps losing10/23/2025 HERMES said sales growth in the United States accelerated slightly in the third quarter by 7.2 percent to 714 million euros ($829 million). “In the Americas we had a very good third quarter, in particular in the United States with growth driven by all product lines,” said chief financial officer Eric du Halgouet. Hermes said earlier this year that it hoped to avoid raising prices in the United States further despite the new 15 percent tariff on goods from the EU, but warned the weak dollar was also weighing on performance. The gain in sales would have been 14.1 percent had the dollar not fallen. Halgouet said Hermes had kept prices steady since the EU-US tariff deal in July. “We’ll continue to invest in this strategic market,” he said, noting the opening of a new store in Nashville, Tennessee, earlier this month. Overall, the company’s third quarter sales rose by five percent to 3.9 billion euros. That puts it ahead of the world’s biggest luxury group LVMH, which reported last week that its third-quarter revenue dropped four percent due to adverse currency movements. In China, the key market for luxury firms where sales have recently faced headwinds, Hermes posted flat third quarter revenues.The company’s share price dropped 4.7 percent in morning trading in Paris. Hermes expressed confidence in the medium-term outlook. “Despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates,” it said in a statement. Hermes announced Tuesday that British designer Grace Wales Bonner would is taking over its men’s pret-a-porter collection from Veronique Nichanian, who has held the position for nearly four decades. The new creative direction at Hermes is just the latest in a series of artistic changes at the big fashion houses, notably at Chanel, Dior, Balenciaga, Loewe and Jean Paul Gaultier. The luxury sector is currently going through a challenging period for sales globally that is impacting many companies, but Hermes has been well-protected from the buffeting. Over the first nine Apple loses UK lawsuit over app store commissionsApple on Thursday lost a London lawsuit accusing the U.S. tech company of abusing its dominant position by charging app developers an unfair 30% commission through its app store. Prada says 'worst is over' in China but heady growth unlikely to return Kering
Group revenue: €3,415 million down 10% as reported and down 5% on a comparable basis “Kering’s third-quarter performance, while representing a clear sequential improvement, remains far below that of the market. This reinforces my determination to work on all dimensions of the business to return our Houses and the Group to the prominence they deserve. We are working relentlessly on our turnaround, as shown by our recent decisions.” Luca de Meo, CEO Group revenue in the third quarter of 2025 was €3.4 billion, down 10% as reported and down 5% on a comparable basis. The change in revenue as reported includes a negative currency effect of 5%. The 5% decrease in comparable revenue in the third quarter represents a sharp sequential improvement (-15% in the second quarter of 2025), of which approximately one-half is due to the performance of Kering’s Houses beyond the favorable base of comparison. By channel, in the third quarter of 2025:
Gucci In the third quarter of 2025, Gucci’s revenue amounted to €1.3 billion, down 18% as reported and down 14% on a comparable basis. Sales from the directly operated retail network were down 13% comparable. This sharp sequential improvement compared to the second quarter, was notably driven by stronger momentum in North America and Western Europe, along with the success of new products, particularly Leather Goods. Wholesale revenue was down 25% on a comparable basis. Towards the end of the quarter, Gucci presented its La Famiglia collection, which confirmed the House’s return to the forefront of fashion. Yves Saint Laurent Yves Saint Laurent’s revenue in the third quarter of 2025 was €620 million, down 7% as reported and down 4% on a comparable basis. Sales from the directly operated retail network dropped 2% on a comparable basis, which again represented a major sequential improvement. Sales returned to growth in North America and decreased only slightly in Western Europe. New collections were enthusiastically received, and the House saw double-digit growth in Ready-to-Wear and Shoes. The refresh of Yves Saint Laurent’s Leather Goods offer is also starting to pay off. Wholesale revenue was down 16% on a comparable basis, in line with the House’s rationalization strategy. Bottega Veneta Bottega Veneta’s revenue totaled €393 million in the third quarter of 2025, down 1% as reported and up 3% on a comparable basis. The increase in revenue from the House’s directly operated retail network was very solid, up 5% on a comparable basis, driven in particular by double-digit growth in North America. Ready-to-Wear and Shoes saw the strongest growth, and the launch of the Campana bag showed very promising results. Wholesale revenue fell 9% on a comparable basis. Other Houses Revenue from the Group’s Other Houses totaled €652 million in the third quarter, down 5% as reported and up 1% on a comparable basis. Sales from the directly operated retail network were stable on a comparable basis. Wholesale revenue of the Other Houses was up 5% on a comparable basis. Trends improved at Balenciaga across all product categories, thanks in particular to North America. At McQueen, the decline in revenue moderated thanks to higher women’s ready-to-wear sales. Brioni maintained its growth, with a sharp increase in retail sales in Western Europe, North America and Japan. The Jewelry Houses saw very solid momentum, with revenue up double digits. Boucheron’s development in the United States and Asia-Pacific was particularly encouraging. Revenue was up at Pomellato, whose High Jewelry line was very well received. Qeelin maintained its very positive trajectory in Asia-Pacific. Kering Eyewear and Corporate Revenue of the Kering Eyewear and Corporate segment totaled €448 million in the third quarter of 2025, up 2% as reported and up 6% on a comparable basis. Kering Eyewear’s revenue rose by 7% on a comparable basis during the quarter. Very firm growth was recorded in all key regions and across the brand portfolio, with solid performances notably from Maui Jim and Lindberg. The partnership with Valentino, announced in September and scheduled to start with the Spring-Summer 2026 collection, represents a new phase in Kering Eyewear’s development. Kering Beauté recorded growth, with revenue up 3% on a comparable basis. Its third-quarter highlights included the launch of Balenciaga’s first fragrance collection and Creed’s new Oud Zarian perfume. About Kering Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across ready-to-wear and couture, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté. Inspired by their creative heritage, Kering’s Houses design and craft exceptional products and experiences that reflect the Group’s commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2024, Kering employed 47,000 people and generated revenue of €17.2 billion.  SS26 Roundup: Breaking Records with Entertainment Front and Centre
→ New Report is Out! SS26 proved that Fashion Month now lives in culture, not just on the runway. With a record-breaking $881.2M in Earned Media Value (+5% YoY), the season outperformed all previous editions. As brands leaned into fashion’s expanding reach on social media, the most impactful campaigns moved beyond shows—into storytelling, entertainment, and cultural moments. From interactive activations to pop-culture collaborations and behind-the-scenes livestreams turned media events, Fashion Month became a stage for immersive brand worlds. Lefty, Karla Otto and CTZAR, part of The Independents Group, analysed the data and creative strategies shaping this new era of fashion communication and influencer marketing. → Download the Report SS26 Fashion Week’s global impact was driven by culturally led campaigns, cinematic storytelling, influencer and talent collaborations at scale. In this report, you will find:
Top Brands Top Profiles Take your next influencer campaign to the next level with Lefty. → Request a Demo Watch Parties: Fashion’s New Cultural Moment Elias Medini (Lyas) has emerged as one of fashion’s most disruptive voices. In July, he hosted a Dior watch party in Paris, attracting 350 attendees. This season, The Independents partnered with him to transform the event into a major cultural moment ‘La Watch Party’--over 13K people connected in person via a livestream. Fashion is Leaning Into Cinematic Storytelling From Dior’s documentary by Adam Curtis to Gucci’s short film The Tiger, entertainment drove SS26. Dolce & Gabbana’s Milan show, featuring The Devil Wears Prada 2 stars, generated $8.2M EMV, while brands engaged filmmakers and composers—Miu Miu cast Daniel Blumberg, and directors like Janicza Bravo and Claire Denis attended key shows. EMV from actors grew +25.8% YoY. Brands Leverage Weibo to Drive Consumer Engagement Across China Fashion brands are increasingly collaborating with Chinese stars and influencers on Weibo to drive engagement across the Chinese market. SS26 content grew +105% YoY, with Dior, Versace, and Loewe featuring Chinese actors as key ambassadors, making their major debuts the most talked-about moments of the season. Netflix (NFLX.O), opens new tab missed Wall Street's third-quarter earnings targets because of an unexpected expense from a Brazilian tax dispute while it offered a forecast a touch ahead of Wall Street projections for the rest of the year.
The report failed to impress investors accustomed to fast-paced growth from the streaming video pioneer. Shares of Netflix, which had risen 39% this year ahead of the earnings release, fell 5.6% to $1,171.24 in after-hours trading on Tuesday. |
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