Organisations & Operators,

Emirates Islamic’s net profit jumped 23% to AED 701 million for the first half of 2022 on higher funded and non-funded income with a significant reduction in the cost of risk reflecting improved business sentiment.
Key Highlights – First Half 2022
Strong operating performance on higher funded and non-funded income coupled with disciplined cost management action
– Total income up 16% y-o-y driven by higher funded and non-funded income
– Expenses increased 13% y-o-y as EI invests for future growthADVERTISEMENT- Impairment Allowances reduced 12% y-o-y reflecting improved business sentiment
– Operating profit improved 19% y-o-y
– Net profit increased 23% to AED 701 million on the back of higher funded and non-funded income, coupled with lower impairment allowances
– Net profit margin at 2.92% reflecting the increase in profit rates in the first half of 2022
Strong capital and liquidity combined with a healthy deposit mix enabled the Bank to support customers
– Total assets grew strongly by 14% to AED 74 billion in H1 2022
– Customer financing at AED 47 billion, increased 11% from end 2021
– Customer deposits at AED 54 billion, increased 15% from end 2021 with CASA balances at 76% of deposits
– Credit Quality: Non-performing financing ratio improved to 7.1%. Coverage ratio strong at 120%
– Capital: Tier 1 ratio at 17.2% and Capital adequacy ratio at 18.3% reflect the strong capital position of the Bank
– Headline Financing to Deposit ratio at 87% reflects continued healthy UAE liquidity
Hesham Abdulla Al Qassim, Chairman said:
“We are delighted to announce a strong set of half yearly financial results, delivering a net profit of AED 701 million for the first six months of 2022. Our solid performance was based on higher funded and non-funded income, and higher customer financing reflecting the UAE’s positive economic sentiment. We have also benefitted from a significant reduction in the cost of risk supported by a strong economy.
We were pleased to support the TECOM and DEWA IPOs on the Dubai Financial Market (DFM) by enabling key clients to participate and benefit from these landmark listings in our role as Receiving Bank. Being a leading UAE bank and a prominent long-term player in the region’s banking sector, we were delighted to support the UAE leadership’s plans to list state-owned entities on the DFM, further boosting UAE capital markets.
We play a pivotal role in the UAE’s growing Islamic banking sector and remain committed to supporting the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, to make Dubai the global capital of Islamic economy. The Emirates Islamic Charity Fund continues to support various humanitarian causes in the UAE through charitable contributions.”
Salah Mohammed Amin, Chief Executive Officer said:
“Emirates Islamic’s total assets grew by 14% to AED 74 billion during the first half of 2022, demonstrating our support for a strong UAE economy.
Emirates Islamic was among the first Islamic banks to integrate digital innovation and our digital focus continues to reap us rich rewards in terms of customer loyalty and market share. In the first half of 2022, we further enhanced our digital channels and offerings across multiple fronts, including ATM / CDM transformation and added features on our Whatsapp Banking.
A superior customer experience is at the heart of everything we do. We proudly uphold the highest levels of customer excellence as we set new benchmarks for innovation-driven Islamic banking in the region. 
We expanded our product offerings with the launch of the Emarati Family Savings account, Emarati Business Account and Super Savings Etihad Guest Account. We continue to invest in new technologies and strengthen our offerings to expand our appeal across the wider UAE population.”

Older
Hilton enhances ESG targets to drive climate action and social impact

Newer
Oman Air launches service between Muscat and Trabzon, Turkey More

Helping the global business travel industry create a positive impact and a better future for people and the planet is the mission behind the Global Business Travel Association’s relaunch of its charitable arm, the GBTA Foundation. The GBTA Foundation will focus on the strategy and execution of GBTA’s global sustainability programs, supporting initiatives related to climate action, as well as diversity, equity and inclusion (DEI) and other talent-related topics via education, research, and advocacy.
“We are excited to re-establish the GBTA Foundation within a fine-tuned scope of ‘people and planet,’” said Suzanne Neufang, CEO, GBTA. “It’s an important moment in GBTA’s 54-year history, as we renew our commitment to creating lasting, positive impact. The GBTA Foundation, along with its newly appointed Board of Directors, will focus on making a positive impact in our industry and beyond.”
Paul Abbott, CEO for American Express Global Business Travel, will serve as the Chairperson of the GBTA Foundation Board of Directors for the next two years. “I’m very pleased to lead the GBTA Foundation at this critical time − to pave the way for progress via ambitious programs and initiatives focused on sustainability,” he said.
GBTA’s new Sustainability Program initiative, which launched in late 2021 to build a greener future for business travel and help reduce its climate impact, will now be managed under the Foundation, as will GBTA’s existing people-related programs, WINiT by GBTA and GBTA Ladders.
Appointed by the GBTA Board of Directors, the Foundation Board will help ensure ambitions are large enough for the environmental and human sustainability challenges at hand, and to elevate the work of GBTA in research, advocacy, and practitioner learning – to reach those beyond the industry.ADVERTISEMENTLeaders from across the global travel industry with distinct interests and strengths in key ESG (environmental, social and governance) areas will serve as the Board of Directors for the Foundation for staggered terms of one and two years:
Paul Abbott, CEO, American Express GBT (two-year term)
Leslie Andrews, Director of Global Travel Category, JLL (two-year term)
Erica Gordon, Senior Vice President, Global Head of Public Affairs and ESG, Hilton (one-year term)
Scott Kirby, CEO, United Airlines (two-year term)
Darragh Ormsby, Global Travel Manager, Google (one-year term)
Tyronne Stoudemire, Senior Vice President, Global Diversity, Equity, & Inclusion, Hyatt (one-year term)
Caroline Strachan, Managing Partner, Festive Road (two-year term)
Denise Truso, GBTA Board President (as per Foundation bylaws)
Suzanne Neufang, CEO, GBTA (as per Foundation bylaws)
Delphine Millot, Managing Director, GBTA Foundation (ex-officio)
The Board held its first meeting this month and is prioritising Foundation governance, providing guidance on GBTA’s existing people and planet program efforts, and determining strategic areas of focus and priorities within environmental and human sustainability initiatives for 2023.
Delphine Millot, hired by GBTA in January 2022, will administer the Foundation as its Managing Director and Senior Vice President-Sustainability. According to Millot, “This is an important opportunity for GBTA to create lasting impact via relevant research, education, and other programs that not only benefit our industry but bring the general public and policy makers closer to us on these relevant topics.”
The GBTA Foundation was originally formed in 1989 as a US 501c3 charitable arm of GBTA. Until early 2018 when it was put on hiatus, the GBTA Foundation was the center of all GBTA education and research. The education and research areas of GBTA were subsequently moved to the core GBTA organisation’s 501c6 tradeshow arm where they will continue to reside when not related to the “sustainability of people + planet” focus of the Foundation.

Older
NCL reveals star-studded cast for ‘Summer: The Donna Summer Musical’ More

The U.S. Travel Association has announced the launch of its new Sustainable Travel Coalition, which aims to align the travel, transportation and technology sectors in developing and advancing strategies to enable a more sustainable future for the U.S. travel industry.
With nearly 60 member organisations at launch, the Sustainable Travel Coalition will serve as an advisory body to inform U.S. Travel on sustainability issues, opportunities and concerns within member organisations and destinations. A dedicated Policy Committee will help drive the broader coalition’s efforts to enable regular progress and collaboration.
U.S. Travel has several long-term goals, which will inform the coalition’s near-term policy priorities. The long-term goals:
Spotlight industry progress by showcasing innovative technologies and calling attention to the ongoing actions and leadership of travel professionals in the sustainability space.
Amplify industry goals and commitments to conservation, best practices, waste and emission reductions and both long- and short-term investments.
Highlight why sustainability matters and the importance of it as a core to travel’s future.
Play offense by identifying and promoting proactive policies to help the industry achieve its goals.
Defend against harmful policies that slow progress toward sustainability goals or penalise the industry without progress.
“Seeing the world and saving the world should not be mutually exclusive,” said U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes. “As technology advances and consumers demand more sustainable travel options, the work of this coalition will ensure that the U.S. travel industry can meet the needs of an evolving market while also protecting our planet’s natural resources.”
“This is clearly an issue that spans well beyond the travel industry itself to practically all other sectors of the U.S. economy,” added Barnes. “By bringing together stakeholders across related industries, we are aligning leaders in travel, transportation and technology on the critical issues that will affect their businesses for decades to come.”ADVERTISEMENTTRAVEL INDUSTRY LETTER TO CONGRESSTo accelerate investment in sustainable travel, more than 100 travel industry organisations—including groups within and outside the Sustainable Travel Coalition—called on the federal government to advance the following near-term priorities:
A tax credit for the production and use of Sustainable Aviation Fuel (SAF), such as those proposed in the Sustainable Skies Act (H.R. 3440/S. 2263).
An enhanced tax credit to increase the availability of electric vehicle charging stations.
An enhanced tax deduction to increase energy efficiency upgrades to commercial buildings.
Federal investments to protect and restore natural attractions, including recreational waterways, shorelines, and National Parks.
Other clean energy incentives for investment in renewable energy deployment, green hydrogen, carbon capture and storage, direct air capture and other innovative technologies to lower the carbon intensity of transportation fuels and the power grid.
In addition to the priorities detailed in the letter, the coalition will identify and advocate for other priorities in the coming months.

Older
Severely reduced trains at London Euston during RMT strike

Newer
Amadeus partners with IE University for Travel4Impact return More

With the parliamentary term over and MPs back in their constituencies, we now know that either former chancellor Rishi Sunak or foreign secretary Liz Truss will soon be the UK’s next prime minister.
The Conservative Party leadership election, brought about by the resignation of Boris Johnson on 7 July, is due to run throughout the summer – with national television debates and local party hustings taking place across the country. The contest could reach a sudden conclusion if one candidate decides to pull out, as occurred in the 2016 leadership election between Theresa May and Andrea Leadsom, but failing that eventuality, we expect the winner and new PM to be announced on 5 September.
ABTA obviously doesn’t get a vote and will remain neutral, as is appropriate for a politically impartial organisation. But we will be putting forward the industry’s priorities to both candidates, making clear the issues the travel industry needs government to grasp. These include future resilience planning and recovery from Covid-19, managing cost of living impacts, the need to reconsider labour mobility arrangements between the UK and EU, and the importance of ensuring better coordination across government in relation to international travel policy.
On the latter point, ABTA welcomed the recent formation of a new aviation council, which formed part of the government’s strategic framework to deliver for the sector over the next decade. The council is due to bring together representatives from leading travel businesses and their main trade bodies, including ABTA, with government ministers and officials right across Whitehall. Crucially, the council will include participation from Number 10 and HM Treasury, which is something that has been called for by the entire aviation and travel eco-system as a learning from the pandemic.
With the change of administration taking place, we will be delivering our message that improving the quality of engagement between industry and government is critically important – and that this group has the potential to make a worthwhile contribution.ADVERTISEMENTWe are also continuing to call for a minister to be given specific responsibility for overseeing the cross-government approach to international travel policy, especially in times of crisis. Due to the disruption being seen at airports and with airlines, travel has been high on the media and political agenda in recent weeks. The impact on travellers has been covered frequently by media and referenced by several politicians in parliament, including during the business, energy and industrial strategy (Beis) committee evidence session held on 14 June.
ABTA has been focused on ensuring accuracy and perspective in media coverage, making clear what consumers can expect in terms of their rights if they suffer delays or cancellations, but also seeking to remind audiences that most people are getting away successfully without significant issues.
We’ve also sought to bring a similar balance in our political engagement. Following the Beis hearing, we followed up with the, chair Darren Jones MP, to ensure members understood the perspective of intermediaries, including travel agents, tour operators and TMCs, and the value travel experts bring in terms of offering consumer advice and reassurance.
We’ve also held recent meetings with the tourism and aviation ministers, respectively, and continue to engage with the Future of Aviation all-party parliamentary group to spread similar messages to MPs and peers across parliament.
Getting in earlyAlongside our political engagement, much of ABTA’s advocacy work on a day to day basis happens with officials as they seek to carry forward instructions given by ministers. For example, last week the Department for Transport published its Aviation Passenger Charter which ABTA, along with other industry representatives and consumer bodies, had been considering over recent weeks.
Experts from ABTA attended several workshops as the content took shape, and this is an excellent example of the detailed engagement that is often under way behind the scenes. We are also engaging regularly with the teams responsible for Atol reform and the Package Travel Regulations to provide evidence around what is happening across the industry and to inform future policy development. This side of our work never stops and will continue throughout the summer.
Over the weeks ahead, my team will also be busy refreshing our briefings for newly appointed ministers. ABTA will be seeking to get in early to ensure individuals given responsibility for the policies that matter to travel understand our views.
Additionally, we have some new research due for publication in September on the value of our sector, and the prize that is on offer in terms of recovery and future growth. There will be more information on this, including how members and the wider sector can help us promote the importance of travel to your own MPs, in the autumn.
Whoever emerges victorious from the race to be PM, ABTA will – to borrow the phrase used by one of the candidates – hit the ground running.
Luke Petherbridge, Director of Public Affairs, ABTA

Older
Virgin Atlantic teams up with Stonewall

Newer
Hanoi holds art programmes in commemoration of fallen soldiers More

ABTA – The Travel Association has issued its top tips for families travelling abroad during the summer holidays, with this weekend marking the start of the summer break for the majority of schools in England and Wales.
According to ABTA’s latest research, three in four (75%) families are set to be travelling overseas this summer, with almost half planning to enjoy a beach break (47%), a third opting for an all-inclusive holiday (33%) and one in five jetting off on a city break (19%).
With many heading overseas for the first time in three years, ABTA has the following ‘super six’ tips to help their journeys go as smoothly as possible:
1. Make sure you’ve checked the Foreign, Commonwealth & Development Office (FCDO) travel advice for your destination before you travel (gov.uk/foreign-travel-advice).2. Plan your journey to the airport, train station or ferry port in advance and allow extra time for traffic, planned road closures or engineering works.3. Arrive at the earliest time advised by your airline or transport provider (arriving earlier than this may add to queues at the terminal).4. Make sure you’re ready to present your passports and any COVID-related documents you need at check-in. You also have the option to check-in online which may save you time.5. Prepare your hand luggage for security by placing large electrical items like laptops and tablets in the trays provided alongside any liquids you’re taking – these need to be 100ml or less and placed inside a 20cm x 20cm plastic bag.6. Take off items of clothing like coats, jackets and belts when passing through security and put any items in your pockets into the trays provided.
More tips and advice on travel can be found at www.abta.com/getreadyfortravel.ADVERTISEMENTGraeme Buck, Director of Communications at ABTA – The Travel Association said:
“The school summer holidays are usually the busiest time of year for travel, so planning ahead is the best way to make the start of your holiday as stress-free as possible. Holidaymakers can help keep queues to a minimum by arriving at the airport at the time advised by their airline, having their travel documents ready for check-in and carefully preparing their hand luggage for security.”

Older
Canada Jetlines prepares for inaugural flight from Toronto to Winnipeg More

Airbnb has been recognised as a Disability Equality Index® (DEI) Best Place to Work for Disability Inclusion. We are proud to share that we received a 100 percent score on the DEI for the second year in a row, joining 240 companies with a top score.
The DEI was launched in 2015 by Disability:IN and The American Association of People with Disabilities (AAPD) and is acknowledged today as the most robust disability inclusion assessment tool in business. The DEI was created by the DEI Advisory Committee, a diverse group of business leaders, policy experts, and disability advocates. Now in its eighth year, the DEI exists to help businesses make a positive impact on the unemployment/underemployment of people with disabilities. In 2022, 415 corporations utilised the DEI to benchmark their disability inclusion efforts.
Airbnb is committed to disability inclusion for our employees and our community of Hosts and guests around the world. While this recognition is important, we are committed to continued progress and improvement to help ensure our product, community, and company is inclusive of people with disabilities. Some of our ongoing work includes:
Reviewing and improving our company policies and practices to ensure they’re inclusive of employees with disabilities.
Providing training for Airbnb employees designed to strengthen disability allyship within our company.
Executive sponsorship and support for [email protected], our employee resource group for employees with disabilities and allies.
Continuing to expand our definitions of diversity to help us better understand and support our employees. In the US, and now newly launched in the UK and Ireland, employees can now voluntarily share if they identify with having a disability.
Through our Supplier Diversity program, connecting more diverse-owned (including people with disabilities-owned) businesses with Airbnb to provide goods and services.
Engaging with the disability community by hosting Disability Advisory roundtables in the United States and in Europe with national and regional organisations, activists, advocates, and leaders to inform our work.
Introducing updates to make it easier for guests with disabilities to find and book accommodations and activities that meet their needs, including our Accessibility Review for Stays and accessibility filters for Experiences.
As a Worldwide Paralympic Partner in a nine-year, five-Games partnership, supporting Paralympian athletes as Hosts and guests on Airbnb.
Continued membership in the Valuable 500, a movement to encourage businesses to advance disability inclusion in their organisation.
Globally, people with disabilities represent over one billion people. Disability is a natural part of the human experience, and it crosses lines of age, ethnicity, gender, gender identity, race, sexual orientation, socioeconomic status, and religion.
“Disability inclusion is a rapidly expanding aspect of corporate culture, and it’s gratifying to partner with 415 companies on the 2022 Disability Equality Index,” said Jill Houghton, President and CEO of Disability:IN. “These top-scoring companies not only excel in disability inclusion, many are also adopting emerging trends and pioneering measures that can move the disability agenda from accommodation to inclusion and ultimately, genuine belonging.”
“There is no single best way to practice disability inclusion, however, the companies taking the DEI share the desire to create a workplace that fosters the concept of bringing your whole self to the office,” said Maria Town, President and CEO of AAPD. “We look forward to working with all of the participants to help identify meaningful ways to build upon their current practices as we continue on the disability inclusion journey together.”ADVERTISEMENT

Older
United Airlines announces Q2 financial results

Newer
Jet2.com and Jet2holidays set for record breaking weekend More

The latest research from ABTA shows demand for trusted travel advice and package holidays remains high as the industry gears up for the busiest summer season since the start of the pandemic.
According to ABTA’s findings, people are currently 37% more likely to book with a travel professional now than before the pandemic. Reasons given by consumers are for their up-to-date advice (45%), the security of a package holiday (43%) and for help with COVID-19 requirements (41%).
The findings also show high confidence in the ABTA brand, with seven in 10 (70%) consumers saying they are more likely to book with a company using the ABTA logo than one which is not, and over a third (36%) saying they are willing to spend more on a holiday booked through an ABTA Member.
To support this desire to book with trusted ABTA Members, ABTA has produced a range of marketing materials that Members can use to raise awareness of their ABTA membership with new and existing customers.
This includes a new graphic that states “We’re proud to be an ABTA Member” that Members can print as A1 and A4 posters for display in retail stores, add to their email signatures or share on social media using the hashtag #WeAreABTAMembers. The materials are available to download at www.abta.com/yourabtamembership. ADVERTISEMENTABTA has also been running social media advertising to raise awareness of the expertise and reassurance that ABTA Members offer their customers. The social media advert for Facebook and Instagram shares 10 reasons to book and travel with an ABTA Member and has so far been seen 1.2 million times.
Graeme Buck, Director of Communications at ABTA – The Travel Association said:
“This increased reliance on travel professionals and the enduring confidence in the ABTA brand have been coming through strongly in our consumer research since the start of the pandemic, as people have recognised the huge benefits of getting expert help and advice when booking their holidays.
“The public associates ABTA Members with high standards and first-class customer service, so these new marketing materials are designed to help our Members proudly promote their invaluable knowledge and expertise to their customers, whether they’re repeat bookers or coming through their doors for the first time.”
ABTA has also just launched a new consumer competition called #HelloHolidays which offers ABTA Members’ customers the chance to win £250 of shopping vouchers. All entrants need to do is share a photo of their holiday on the social media channel of their choice and tag the ABTA Member they’ve booked with to be entered into the prize draw. The competition closes on 5 September 2022 and ABTA Members are encouraged to ask their customers to enter.

Older
The Spa at Four Seasons Toronto reopens Cloud 9 Oasis

Newer
Carnival Cruise Line launches ‘Loyalty Rocks!’ More