Trader Leon Montana works on the floor of the New York Stock Exchange on June 3. (AP)

TOKYO, June 5, (AP): Asian shares were mixed on Thursday, as Wall Street’s big recent rally lost some momentum following a pair of potentially discouraging reports on the American economy. US futures edged lower and oil prices declined. Japan’s benchmark Nikkei 225 shed 0.2% to 37,658.46, while Australia’s S&P/ASX 200 declined nearly 0.1% to 8,535.10.

In South Korea, the Kospi jumped 2.1% to 2,829.48 after the country’s new president and leading liberal politician Lee Jae-myung began his term, vowing to restart talks with North Korea and beef up a trilateral partnership with the US and Japan. Hong Kong’s Hang Seng gained 0.9% to 23,856.54, while the Shanghai Composite was little changed, inching down less than 0.1% to 3,374.30. On Wednesday, the S&P 500 finished the day virtually unchanged at 5,970.81 and remained 2.8% below its all-time high.

The Dow Jones Industrial Average fell 0.2% to 42,427.74, and the Nasdaq composite added 0.3% to 19,460.49. The action was stronger in the bond market, where Treasury yields tumbled following the weaker-than-expected economic updates. One said that activity contracted for US retailers, finance companies and other businesses in the services industries last month, when economists were expecting to see growth.

Businesses told the Institute for Supply Management in its survey that all the uncertainty created by tariffs is making it difficult for them to forecast and plan. A second report from ADP suggested US employers outside of the government hired far fewer workers last month than economists expected

That could bode ill for Friday’s more comprehensive jobs report coming from the US. Labor Department, which is one of Wall Street’s most anticipated data releases each month. So far, the US job market has remained remarkably resilient despite years of high inflation and now the threat of President Donald Trump’s high tariffs. But weakness there could undermine the rest of the economy  

KUWAIT CITY, June 4: Real estate transactions in May recorded a monthly growth in the value of various types of real estate by 24.3 percent or KD 94.384 million; reaching KD387.18 million with a total of 530 transactions, compared to KD292.797 million in April. Meanwhile, the value of real estate transactions decreased year-on-year by 6.24 percent or KD25.803 million, and the number of transactions increased by 19.8 percent or 105 transactions, compared to 425 transactions worth KD412.984 million in May 2024.

The newspaper obtained a copy of the monthly report on real estate transactions from the Documentation and Real Estate Registration Department in the Ministry of Justice. The report confirmed the registration of 530 real estate transactions in May — 390 private transactions, 125 investment transactions, six commercial transactions, five craft transactions, two warehouse transactions, and one transaction each for shops and the coastal strip. Private real estate transactions witnessed a 2.6 percent growth in number and a 21 percent growth in value, with a total of 390 transactions worth KD158.677 million, compared to 380 transactions worth KD125.202 million in April. On an annual basis, private real estate transactions recorded a 24.3 percent growth in number and a 15 percent growth in value compared to May 2024, which had 295 transactions worth KD134.811 million. Investment real estate transactions recorded a monthly growth of 2.5 percent in number and 28.4 percent in value, with a total of 125 transactions worth KD185.847 million, compared to 122 transactions worth KD132.982 million in April.

The value of investment real estate transactions jumped 159 percent year-on-year (to KD114.119 million) and 17.6 percent in number (22 transactions); compared to May 2024 when the number of transactions totaled 103, valued at KD71.728 million. Commercial real estate witnessed a striking contrast between monthly and annual trading activities. While the value of real estate transactions increased by 166 percent every month and 33.3 percent in number, with a total of six transactions worth KD 22.062 million compared to four transactions worth KD8.290 million previously; the volume of transactions decreased by 70 percent year-on-year and 86.6 percent in value, with a total of 20 transactions worth KD164.526 million. Despite the 44.4 percent decrease in the number of commercial real estate transactions in May (four deals) compared to the number of transactions in April, the trading value of commercial transactions jumped by 11.7 percent (KD1.276 million).

The number of commercial transactions in May reached five, worth KD10.945 million; compared to nine deals worth KD9.669 million in April. The craft real estate also witnessed a significant year-on-year increase in the number and value of transactions, increasing by 60 percent and 191 percent respectively, compared to May 2024 which had three deals worth KD3.765 million.

By Marwa Al-Bahrawi Al-Seyassah/Arab Times Staff

KUWAIT CITY, June 4: Jazeera Airways, Kuwait’s leading low-cost carrier, announced the resumption of flights between Kuwait and Damascus, Syria, starting from 9 June 2025. This significant move marks the restoration of direct air connectivity between the two nations after a hiatus of over 12 years. Jazeera Airways previously served three destinations in Syria—Damascus, Aleppo, and Deir EzZoor—and is now returning to the Syrian capital to meet the growing demand for travel and reconnection.

The relaunch of services to Damascus reflects the airline’s commitment to serving over 200,000 Syrians in Kuwait, the second largest Middle Eastern community residing in the country. The service will launch with one daily flight, with plans to increase to twice-daily frequencies before the end of the summer travel season. The airline also plans to resume operations to other Syrian cities in line with anticipated market growth.

The flights are currently open for booking with Jazeera Airways offering special promotional fares starting from just KD 95 one-way and KD 159 return— giving travelers an affordable opportunity to reconnect with Damascus. Barathan Pasupathi, Chief Executive Officer, Jazeera Airways commented, “We are pleased to restart flights between Kuwait and Damascus, a route of immense importance to thousands of Syrian nationals living and working here. This development goes beyond simply restoring air travel—it represents a renewed bridge of connectivity that links families, communities, and opportunities.

By reinstating this vital service, we are not only supporting the strong and vibrant Syrian community in Kuwait but also reinforcing the deep historical, cultural, and economic bonds between our two nations. We are deeply grateful to all stakeholders in both Kuwait and Syria who have partnered us in establishing the direct connectivity between Kuwait and Damascus.” With this development, Jazeera Airways reaffirms its role as a key enabler of regional connectivity and a committed partner to diverse communities across its network.