LOS ANGELES — Luka Doncic will miss his ninth consecutive game when the Los Angeles Lakers host the Oklahoma City Thunder in Game 4 of the Western Conference semifinals on Monday night, continuing his recovery from a Grade 2 left hamstring strain that has sidelined him since early April.

The Lakers officially listed Doncic as out on their injury report released Monday afternoon, with no change in status from previous games. The Slovenian superstar has been progressing in his rehabilitation — recently beginning running — but remains well short of full basketball activity as the team fights to avoid a sweep.

Eight-week timeline looms large

Doncic suffered the injury on April 2 against these same Thunder. The initial MRI projected an eight-week recovery window, placing a potential return around early June. At five weeks post-injury, he has begun running but has not progressed to on-court contact, 5-on-5 work or game-speed drills.

In his most detailed public update last week, Doncic acknowledged the conservative timeline. “The doctor said eight weeks at the beginning of the first MRI,” he told reporters. “I’m just going day by day, and I feel better every day.” He has traveled to Europe for specialized treatment but has not accelerated the process beyond medical guidance.

Lakers desperate without their star

Without Doncic, the Lakers have leaned heavily on LeBron James and a supporting cast that includes Austin Reaves, Rui Hachimura and D’Angelo Russell. The team has shown flashes of competitiveness but has been unable to match Oklahoma City’s depth, athleticism and defensive versatility. The Thunder lead the series 3-0 heading into Monday’s must-win game at Crypto.com Arena.

Coach JJ Redick has emphasized adjustments and next-man-up mentality, but the absence of Doncic’s scoring gravity, playmaking and size has been glaring. James has logged heavy minutes, but the offensive ceiling without the 30-point, 8-assist threat has proven difficult to reach consistently.

Medical and long-term outlook

Medical experts note that Grade 2 hamstring strains carry significant re-injury risk if rushed. The Lakers are taking a measured approach, prioritizing Doncic’s long-term health over a desperate playoff push. Even if the Lakers extend the series, a return in the Western Conference finals would require rapid progression in the coming days.

Doncic has dealt with lower-body soft-tissue issues in recent seasons. This latest strain, described as more severe than previous ones, has tested both his patience and the organization’s contingency planning.

Thunder capitalize on Lakers’ vulnerabilities

Oklahoma City has exploited the mismatch effectively. Shai Gilgeous-Alexander and the Thunder’s deep roster have dominated transition play and the glass, building double-digit leads in each of the first three games. Coach Mark Daigneault’s team enters Game 4 with a chance to sweep and advance to the Western Conference finals.

The Thunder have shown championship poise, maintaining focus despite the Lakers’ home-court energy. Their length and switching defense have neutralized much of Los Angeles’ half-court offense in Doncic’s absence.

Fan frustration and broader implications

Lakers fans have expressed a mix of disappointment and realism on social media. Many hoped for a miracle return, but the eight-week timeline and medical updates have tempered expectations. The organization’s investment in pairing James with Doncic faces its first major test, with questions about roster construction and future flexibility likely to intensify if the series ends quickly.

A sweep would mark another early postseason exit and intensify scrutiny on front-office decisions. General manager Rob Pelinka faces difficult choices this offseason regardless of the outcome, particularly around supporting cast construction and managing aging stars.

Path forward for Doncic and Lakers

For Doncic, the focus remains steady rehabilitation. If the original timeline holds, he could target late May for basketball activities, potentially aligning with a hypothetical Conference Finals appearance. Any earlier return would require pain-free running, strength testing and medical clearance.

The Lakers, meanwhile, must find answers quickly. Monday night’s Game 4 represents more than survival — it is a chance to salvage pride, extend the series and buy time for potential reinforcements. Whether they can force the Thunder into a longer battle without their star remains to be seen.

As Crypto.com Arena prepares for what could be a pivotal home game, the spotlight remains on Doncic’s recovery timeline and the Lakers’ ability to compete shorthanded. The hamstring injury has tested the franchise’s depth and resilience at the worst possible moment, leaving fans hoping for a miracle in a season defined by high expectations.

Game 4 tips off at 10:30 p.m. ET on Prime Video. While Doncic watches from the sideline, the Lakers will attempt to defy the odds and keep their season alive against a Thunder team playing with championship momentum.

The CEO of Saudi Arabia’s state-owned oil company is warning that the energy sector will take time to recover from the Iran war’s impact on supply as oil output was slashed due to the ongoing disruptions to shipping in the Strait of Hormuz.

Saudi Aramco CEO Amin Nasser said on an earnings call Monday that the global energy market has lost about 1 billion barrels of oil supply during the crisis, though efforts to reroute shipments to avoid using the Strait of Hormuz and releases from countries’ strategic petroleum reserves have eased some of the supply issues.

“The energy supply shock that began in the first quarter is the largest the world has ever experienced,” Nasser said.

He said that the world is now losing about 100 million barrels of oil supply per week as long as the Strait of Hormuz remains largely closed to tanker traffic. If the disruption continues for several more weeks, Aramco thinks that oil markets may not normalize until 2027.

CHEVRON CEO SAYS ECONOMIES ‘ARE GOING TO HAVE TO SLOW’ AS STRAIT OF HORMUZ CLOSURE DISRUPTS OIL SUPPLY

“Reopening routes is not the same as normalizing a market that has been deprived of about 1 billion barrels of oil,” Nasser said, adding that years of underinvestment compounded the strain caused by the conflict on global oil inventory.

“Recent events have clearly demonstrated the vital contribution of oil and gas to energy security and the global economy and are a stark reminder that reliable energy supply is critical,” he added.

AMERICANS LEAN ON CREDIT CARDS AND BUY NOW, PAY LATER AS GAS PRICES EAT BIGGER SHARE OF INCOME

The conflict prompted Aramco to ramp up the use of its pipeline that transits the Arabian Peninsula from east to west and negates the need for oil tankers to transit the Strait of Hormuz, through which about 20% of the world’s oil supply passed through before the war began.

“Our East-West pipeline, which reached its maximum capacity of 7 million barrels of oil per day, has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy shock and providing relief to customers affected by shipping constraints in the Strait of Hormuz,” Nasser said on the call.

GAS PRICES SURGE PAST $4.50 NATIONALLY AS IRAN TENSIONS PRESSURE DRIVERS

Of the 7 million barrels per day the pipeline handles, about 2 million go to oil refineries located on Saudi Arabia’s western coast, while the remaining 5 million barrels per day are available for exports.

Nasser said that Aramco is considering ways to expand its export capacity at Yanbu, the terminal on the Red Sea that serves as the pipeline’s destination.

Saudi Arabia cut oil output by 2 million barrels per day after Iran threatened shipping traffic in the Strait of Hormuz, which effectively closed the vital choke point. 

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Reuters contributed to this report.

Cities long known for their Beatles connections now plan to work together in areas from logistics to green tech

Liverpool City Region has signed a new agreement with Hamburg to boost ties in areas including logistics, maritime trade and green technology.

The two port cities are well-known for their shared Beatles connections, with the band playing hundreds of gigs in the city in the early 1960s. A new drama based on the Beatles’ Hamburg days has already started production.

Now Mayor of the Liverpool City Region, Steve Rotheram, and Hamburg’s First Mayor, Dr Peter Tschentscher, have signed a Joint Declaration of Intent (JDI) to plan deeper academic, cultural and economic cooperation. It follows last year’s signing of the Kensington Treaty to strengthen British-German relations.

The cities will plan deeper academic, cultural and economic cooperation in areas from logistics and maritime transformation to digitalisation and climate adaptation, and will also plan further tourism and trade links.

Steve Rotheram, said: ” Liverpool and Hamburg are proud port regions with a shared maritime and cultural history and a shared determination to shape the future. This Joint Declaration of Intent turns our common heritage into practical collaboration that will improve the future of our citizens, businesses and the environment.

“Both regions know what it means to reinvent ourselves, moving from traditional industry to innovation-led growth. By working together on green shipping, digitalisation and artificial intelligence, we will exchange expertise, attract investment and support high-quality jobs on both sides of the North Sea.

“This post-Brexit agreement builds on the newly-ratified Kensington Treaty between our two nations by strengthening cooperation at a city region level to improve sustainability, innovation and mutual long-term prosperity.

“We’ve been developing our relationship with Hamburg for some years now and I’m thrilled we are adding a new chapter to this story and laying the foundations for an even stronger relationship in the years ahead.”

Hamburg’s First Mayor, Dr. Peter Tschentscher, said: “Hamburg and Liverpool are linked by a long maritime tradition that has shaped our economy, culture, and the mindset of our citizens. Both cities are diverse, outward-looking, and internationally connected. They honour their traditions while, as modern metropolises, simultaneously focusing on innovation and progress.

“With the Joint Declaration of Intent, we aim to provide our partnership with a framework featuring clear structures and defined areas of focus. These include cooperation and joint projects in the fields of green shipping, life sciences, artificial intelligence, and innovative urban development.”

Andrew Mitchell CMG, British Ambassador to Germany said: “The newly‑ratified Kensington Treaty sets an ambitious framework for closer UK–Germany cooperation – and the partnership between Hamburg and Liverpool is a great example of that cooperation being turned into practical action.

“This Joint Declaration of Intent builds on deep historic ties and channels them into collaboration on shared priorities: from maritime transformation and green shipping to digitalisation, AI, innovation and climate adaptation.

“My warm congratulations to Mayor Dr. Peter Tschentscher and Mayor Steve Rotheram on this important step, which strengthens links between our communities and supports long‑term prosperity on both sides of the North Sea.”

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Existing investors of Billionbrains Garage Ventures (Groww) – Peak XV, Sequoia Capital, Ribbit and YC Holdings – will sell shares worth Rs 4,750 crore, wherein they are likely to offload up to 26.84 crore shares, according to a deal term sheet. The floor price is set at Rs 177 per share, which is an 8.5% discount from the current market price of Rs 193.70 on the BSE.

The transaction will be executed through a vendor sale by way of one or more share sales on the screen-based trading platform of Indian stock exchanges. This typically refers to a secondary share sale executed via a block deal or a large institutional placement conducted through the exchange screen.

The stock today fell by Rs 11 or 5.37% over the Friday closing price of Rs 204.70.

Peak XV Partners Investments VI-1 is the largest shareholder among the selling investors, holding more than 105 crore shares, representing a 16.88% stake in the brokerage firm. Meanwhile, YC Holdings II, LLC owns over 63.24 crore shares, translating into a 10.08% equity stake in the company.

Ribbit Capital V L.P. held over 43.31 crore equity shares, representing a 6.90% stake as on March 31, 2026 while Sequoia Capital Global Growth Fund III – U.S./India Annex Fund, L.P. held over 9.85 crore equity shares, accounting for a 1.57% stake.

Established in 2016, the Bengaluru-based discount broker offers brokerage services to invest in equity, IPO, and direct mutual funds. Groww is the brand name for Groww Invest Tech Pvt Ltd, which is a SEBI-registered stockbroker and a member of NSE and BSE.
At the current market price, Groww shares are trading 94% higher from the IPO price of Rs 100. Its public issue was launched in November and the stock made its market debut on November 12, 2025.Groww IPO was a book building issue of Rs 6,632.30 crores which was a combination of fresh issue of 10.60 crore shares aggregating to Rs 1,060 crore and an offer for sale (OFS) of 55.72 crore shares aggregating to Rs 5,572.30 crores.

TUCSON, Ariz. — As the search for Nancy Guthrie reaches the heartbreaking 100-day mark on Monday, investigators have made no public arrests and named no suspects in the suspected kidnapping of the 84-year-old mother of “Today” co-anchor Savannah Guthrie, leaving her family in prolonged anguish while pleading for the public’s help.

Nancy was taken from her Catalina Foothills home in the early morning hours of Feb. 1, 2026. Bloodstains confirmed to be hers were found inside and on the front porch, along with signs of a struggle. A doorbell camera captured a masked, gloved intruder tampering with the device around 1:47 a.m. Her pacemaker lost connection shortly afterward, and she left behind essential medications and her phone.

On Mother’s Day, Savannah Guthrie shared an emotional Instagram Reel featuring family photos and videos of her mother as a devoted parent and grandmother. “Mother, daughter, sister, Nonie — we miss you with every breath,” she wrote. “We will never stop looking for you. We will never be at peace until we find you.” She urged anyone with information to contact the FBI anonymously, noting the $1 million family reward remains active.

Medical fragility adds urgency

Nancy’s health conditions — including a pacemaker, high blood pressure, and mobility issues — have raised grave concerns. Experts warn that without her daily medications, she faces risks of cardiac events, blood clots, or other complications. Retired FBI profiler Jim Clemente noted blood spatter on the porch suggests she was alive and possibly resisting when taken.

A human bone discovered May 7 near the home briefly sparked hope before authorities confirmed it was prehistoric and unrelated. Mixed DNA samples from the scene are still under advanced FBI analysis.

No major breakthroughs reported

Pima County Sheriff Chris Nanos has described the investigation as active and committed, with the FBI’s involvement and thousands of tips received. However, no significant new leads have been publicly disclosed in recent weeks. Some retired agents suggest the lack of updates may be strategic to protect the investigation.

Profiler opinions vary. Some believe the kidnapper may not be highly sophisticated, increasing chances of eventual identification through mistakes made at the scene. Others speculate Nancy could still be alive, drawing parallels to long-term abduction cases.

Family’s emotional toll

Savannah returned to the “Today” show in April after time away but has continued sharing public appeals. Her husband, Michael Feldman, posted his own Mother’s Day tribute, calling her “the strongest person I know.” The family has balanced private grief with relentless advocacy, emphasizing Nancy’s need for medication and her role as a beloved “Nonie.”

Broader context and public interest

The case has captivated national attention, sparking discussions about elder safety, home security, and media coverage of missing persons. Local leaders and some critics have questioned aspects of the investigation, but authorities maintain a steady focus. Elizabeth Smart has publicly offered hope, citing her own experience of prolonged captivity.

As Monday marks 100 days since Nancy’s disappearance, the family’s message remains unchanged: someone knows something. The $1 million reward and ongoing FBI tip line (1-800-CALL-FBI) continue as key tools in the search.

The investigation into Nancy Guthrie’s abduction remains open and active, with her loved ones refusing to lose hope despite the passage of time and medical uncertainties. For now, the case stands as a painful reminder of vulnerability — and the power of persistent public appeals in high-profile missing persons investigations.

NEW YORK — Shares of Liquidia Corporation (NASDAQ: LQDA) surged more than 25% in morning trading Monday to $48.54 as investors cheered the biopharmaceutical company’s transformative first-quarter 2026 results, driven by the blockbuster commercial launch of its pulmonary hypertension drug YUTREPIA.

The dramatic gain reflects growing Wall Street confidence in Liquidia’s rapid transition from a development-stage company to a profitable commercial player in the $5+ billion inhaled treprostinil market. YUTREPIA, Liquidia’s innovative dry-powder formulation, has seen exceptionally strong early uptake since its 2025 launch.

Q1 2026 financial highlights

Liquidia reported first-quarter revenue of approximately $132.9 million, a massive increase from just $3.1 million in the prior-year period. Nearly all of that growth came from YUTREPIA net product sales of roughly $130 million. The company swung to a strong net profit of $52.9 million, or $0.52 per share, compared with a loss in the year-ago quarter. Adjusted EBITDA reached $71.2 million.

Management highlighted more than 4,500 unique patient prescriptions and approximately 3,750 patients treated with YUTREPIA between launch and April 30, 2026. The company also recorded its third consecutive quarter of profitability.

YUTREPIA commercial momentum

YUTREPIA is an inhaled dry-powder formulation of treprostinil approved for pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). Its convenient, low-effort inhaler and dosing flexibility have driven rapid adoption among patients and physicians seeking alternatives to existing therapies.

Analysts note that Liquidia has successfully captured meaningful market share in a competitive space dominated by United Therapeutics. Strong payer coverage, physician enthusiasm, and patient preference for the dry-powder format have fueled the impressive launch trajectory.

Analyst reaction and raised expectations

Several firms have raised price targets and maintained Buy ratings following the earnings beat. The stock’s valuation, while elevated after the recent run, is supported by visible revenue growth, expanding margins, and a robust pipeline. Liquidia also benefits from intellectual property protections around its PRINT technology platform.

Monday’s surge came on heavy volume, with traders rotating aggressively into the name. The move extends a powerful upward trend that has seen the stock deliver extraordinary returns for investors who recognized its potential early in the YUTREPIA launch phase.

Company background and strategy

Liquidia has successfully evolved from a pure-play drug developer into a commercial-stage rare disease company. Its focus on improving delivery of proven molecules through innovative formulations has allowed faster regulatory paths and strong differentiation in the marketplace. Beyond YUTREPIA, the company maintains a pipeline targeting additional respiratory and vascular indications.

CEO Roger Jeffs and the leadership team have emphasized disciplined commercial execution, patient support programs, and strategic partnerships to maximize YUTREPIA’s potential while advancing the broader portfolio.

Risks and considerations

Despite the enthusiasm, Liquidia operates in a competitive therapeutic area with established players. Ongoing patent litigation and potential future competition remain important variables. Like many biotech stocks, LQDA can experience significant volatility tied to clinical, regulatory, or commercial developments.

Valuation metrics have expanded rapidly with the stock’s rise. Investors should weigh the strong growth narrative against execution risks and the possibility of profit-taking after such a sharp move.

Broader biotech and pulmonary hypertension context

Liquidia’s success highlights continued innovation in rare disease and specialty pharmaceutical markets. The pulmonary hypertension space, while relatively small, offers high unmet need and attractive pricing dynamics for differentiated therapies. Liquidia’s ability to gain traction quickly demonstrates the power of patient-centric innovation.

What’s next for Liquidia (Future Forecast)

Investors will watch closely for updates on YUTREPIA commercial metrics, additional pipeline progress, and any strategic moves such as partnerships or expanded indications. The company’s Q2 earnings in August will provide the next major catalyst.

Monday’s powerful move underscores how quickly investor sentiment can shift when a biotech company delivers clear commercial proof-of-concept in a high-value market. For Liquidia, the combination of strong sales, profitability, and pipeline potential has transformed it into one of 2026’s standout small-cap biotech stories.

As trading continues, all eyes remain on whether this momentum can be sustained or if the stock consolidates after its explosive run. For now, the market is rewarding Liquidia’s successful execution on its vision to revolutionize care for patients with challenging respiratory and vascular diseases.

Ari Fujishiro
Corporate Officer & Head of IR & SR Dept., Global Corporate Affairs

[interpreted]

Thank you for waiting. We are going to start Daiichi Sankyo’s FY 2025 Financial Results Announcement and FY 2026-FY 2030 5-year business plan presentation and discussion. I’m delighted to serve as MC today.

I’m Ari Fujishiro from the Investor Relations and Shareholder Relations Department. First, about the language. In this briefing session, we are going to use Japanese and English. Simultaneous translation is available. [Operator Instructions] On Zoom screen and during live streaming, we will show a presentation material in Japanese. We have posted a presentation in both Japanese and English on our corporate website under IR library, financial results presentation material or IR Presentation Materials section. Please download the files if necessary.

Today, 5 members are in attendance. Representative Director, President and CEO, Hiroyuki Okuzawa; Senior Executive Officer, CFO; Tomohiro Kodama; Director, Head of Oncology Business Unit, Ken Keller, Head of Global R&D, John Tsai, Senior Executive Officer, Head of R&D Division, Yuki Abe.

Today, after

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BFF Bank S.p.A. (BFFBF) Q1 2026 Earnings Call May 11, 2026 12:30 PM EDT

Company Participants

Caterina Mora – Director of Group Investor Relations, Strategy and M&A
Giuseppe Sica – GM, CEO, CFO & VP of Finance and Administration Department

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Conference Call Participants

Manuela Meroni – Intesa Sanpaolo Equity Research
Tommaso Nieddu – Kepler Cheuvreux, Research Division
Giovanni Razzoli – Deutsche Bank AG, Research Division
Davide Giuliano – Equita SIM S.p.A., Research Division

Presentation

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Operator

Good afternoon, and welcome to the BFF Banking Group First Quarter 2026 Earnings Call. [Operator Instructions] Please note this event is being recorded. I would like to turn the conference over to Caterina Della Mora, Head of Investor Relations; and Giuseppe Sica, Group CEO. Please go ahead.

Caterina Mora
Director of Group Investor Relations, Strategy and M&A

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Good afternoon, and thank you for joining BFF’s First Quarter 2026 Financial Results Call. We will start with a presentation by our CEO, Giuseppe Sica, followed by Q&A. [Operator Instructions] Let me hand over now to Giuseppe Sica.

Giuseppe Sica
GM, CEO, CFO & VP of Finance and Administration Department

Thank you, Caterina, and thank you, everyone, for joining this call. Before we dive into the presentation, some of you may have already noticed that we have introduced some new formats and slides. This allows us to better illustrate the diversified nature of our group and to focus on the key drivers of our performance. You can still find for this quarter all the other details in the appendix.

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Today, we are announcing what are good results in what remains a complex environment. Our profitability improved with adjusted net income significantly up year-on-year. This result is underpinned by the performance of our Payments and Security Services business, as well as factoring and lending, where we are focused on the profitability of our volumes.

India’s state-run fuel retailers are staring at first-quarter losses large enough to wipe out profitability for the full fiscal year, as soaring crude prices and a government-led freeze on pump prices squeeze marketing margins, according to a top government source.

Since the war broke out in the Middle East 10 weeks ago, state-owned oil marketing companies (OMCs) have ensured uninterrupted supplies of petrol, diesel and cooking gas LPG at rates that are way below cost, unlike many global energy systems that imposed rationing or passed through steep price increases.

This has resulted in the three OMCs – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) – running record high under-recoveries (the difference between cost and retail selling price), the source, who wished not to be named, said.

The combined under-recovery on petrol, diesel and cooking gas LPG is Rs 1,000 crore to Rs 1,200 crore daily, he said.

Despite a 50 per cent surge in input crude oil prices, petrol and diesel continue to be priced at a two-year-old rate of Rs 94.77 a litre and Rs 87.67 per litre respectively. Domestic cooking gas LPG prices were raised in March by Rs 60 per cylinder, but they are still way lower than the actual cost.

“At current oil prices, the losses in the current quarter (April-June) will wipe out the company’s entire year’s profit of about Rs 76,000 crore,” he said, adding that after considering losses in March – the first month of the crisis – the cumulative losses come to about Rs 1 lakh crore.
The oil companies are currently losing Rs 14 per litre on petrol, Rs 42 a litre on diesel and Rs 674 a litre on cooking gas LPG.Commenting on rising losses faced by oil marketing companies, Prashant Vashisht, Senior Vice President & Co-Group Head, Corporate Ratings, ICRA Ltd, said, “The oil marketing companies are incurring substantial losses on the sale of auto fuels and domestic LPG owing to high international crude oil and product prices.

“ICRA estimates that at crude prices of USD 120-125 per barrel, and considering the past 10-year average crack spreads for auto fuels, oil marketing companies incur losses of around Rs 1,000 crore per day on the sale of auto fuels and domestic LPG. This level of losses is unsustainable and would need to be addressed if elevated crude oil and product prices persist over an extended period.”

The revenues that OMCs earn from selling fuel are the only source that is used by them to buy crude oil (raw material), build infrastructure to process it into fuel and lay a network to take the product to consumers.

For 10 weeks, the OMCs have managed to insulate the Indian market but now the cost is visible, the source said, adding they may have to borrow more to meet the working capital requirement (buying of crude oil).

“If elevated crude prices persist for an extended period, OMCs may require higher working capital borrowings and calibrated reprioritisation of some capex timelines,” he said. “However, strategic investments in refining expansion, energy security infrastructure, ethanol blending, biofuels, and transition fuels continue to remain national priorities and are expected to proceed with Government support.”

While countries from Japan to the United Kingdom have raised petrol and diesel prices by up to 30 per cent since the start of the West Asia conflict, fuel prices in India continue at two-year-old levels.

This despite the war disrupting India’s import of 40 per cent of crude oil (raw material for making petrol and diesel), 90 per cent cooking gas LPG and 65 per cent natural gas (used to generate electricity, make fertiliser, turned into CNG and piped to household kitchens for cooking).

While the three OMCs have worked overtime to keep the supply lines running even when demand spiked due to panic buying, the government intervention included excise duty reductions to absorb part of the fuel cost burden. The special additional excise duty on petrol was cut to Rs 3 per litre from Rs 13, while excise duty on diesel was reduced to zero from Rs 10 per litre.

The government has taken a hit of Rs 14,000 crore a month in cutting the excise duty, the source said.

For travellers, investors and hospitality leaders assessing remote marine tourism, a Raja Ampat diving liveaboard guide should do more than describe cabins, reefs and itineraries; it should explain why the liveaboard model has become one of Indonesia’s most refined examples of experience-led luxury.

In Raja Ampat, service quality is measured not only by comfort but also by timing, safety, discretion, environmental care, and the ability to deliver something deeply memorable without making it feel manufactured.

Why Raja Ampat Holds a Unique Position in Indonesian Tourism

Raja Ampat is not a mass-market destination. Its appeal comes from remoteness, biodiversity and the sense of entering a marine landscape that still feels rare. For liveaboard operators, this creates both opportunity and responsibility.

Guests are not simply booking a boat. They are booking with confidence. They want to know that the crew understands currents, weather, dive planning, hospitality flow, food preferences and the subtle expectations of international luxury travellers.

This is where Raja Ampat liveaboard diving differs from many land-based holidays. The experience is self-contained. The vessel is the hotel, restaurant, dive centre, transport provider and private retreat, all at once.

• Every crew interaction matters.
• Every schedule decision affects comfort.
• Every safety briefing shapes trust.
• Every meal contributes to the overall memory.
• Every environmental choice reflects the brand.

A well-structured Raja Ampat diving liveaboard guide helps operators and guests alike understand how each of these details contributes to an experience that feels seamless rather than scripted.

The Rise of Experience-Led Luxury at Sea

Polished wood, spacious cabins, or fine dining alone no longer define luxury in liveaboard travel in Indonesia. These details still matter, but modern guests expect something more layered: privacy, authenticity, personalisation and responsible access to nature.

A well-managed liveaboard succeeds when guests feel looked after without feeling controlled. The rhythm should feel effortless, even though behind the scenes it requires serious operational discipline.

This balance is especially important in Raja Ampat, where weather windows, dive site selection and guest ability must be managed carefully. Luxury here is not about excess. It is about judgment.

What Guests Really Value on a Raja Ampat Liveaboard

Many guests arrive after searching for terms such as “scuba Indonesia” or “best diving” because they already know the country offers world-class underwater experiences. However, once they are on board, what they remember most is often the human side of the journey.

They remember the cruise director who adjusted the plan after listening to their concerns. They remember the chef who handled dietary needs without fuss. They remember the dive guide who noticed anxiety before it became a problem.

The strongest liveaboard experiences usually include:

• Clear pre-arrival communication.
• Honest explanations of itinerary flexibility.
• Well-maintained diving and safety equipment.
• Calm, capable dive guides.
• Respectful service that is attentive but not intrusive.
• Food and beverage standards suited to remote cruising.
• Sensible environmental practices.
• A crew culture that feels warm and professional.

These are not decorative extras. They are the operating foundations of high-end marine hospitality.

Raja Ampat Compared with Komodo

Many travellers considering a Raja Ampat journey may also be looking at a Komodo liveaboard. Both destinations are exceptional, but they offer different moods and operational realities.

Komodo is often associated with dramatic landscapes, stronger currents, seasonal manta encounters and a more adventurous tone. Raja Ampat feels more expansive, remote and immersive, with a strong emphasis on biodiversity, reef variety and longer cruising distances.

For hospitality businesses, the comparison is useful because it shows that Indonesia cannot be treated as one single dive product. Each region needs its own positioning, staffing style and guest communication strategy.

A practical distinction for operators:

• Komodo often attracts guests seeking intensity, scenery and adventure.
• Raja Ampat often attracts guests seeking rarity, immersion and marine abundance.
• Both require strong safety systems and transparent guest briefings.
• Both benefit from a luxury that feels grounded rather than excessive.

The Business Case for Responsible Remote Tourism

For BM Magazine readers, the liveaboard sector is interesting because it demonstrates how a niche tourism model can create high-value economic activity without relying on large-scale development.

A well-run liveaboard supports local employment, marine park fees, supply chains, guides, harbour services and specialist maintenance. It also encourages longer booking windows and higher guest spend compared with many short-stay tourism products.

However, the model only works in the long term if it protects the asset that creates demand: the marine environment. Raja Ampat’s reefs are not a backdrop. They are the core infrastructure of the business.

This means operators must think beyond occupancy and seasonal revenue. They must consider carrying capacity, anchoring practices, waste systems, community relationships and guest education.

Service Excellence in a Confined Luxury Environment

A resort has space. A liveaboard has intimacy. That changes the rules of hospitality.

On board, small issues become visible quickly. A delayed meal, a confusing dive schedule, or a poorly handled complaint can affect the overall atmosphere. Equally, small gestures can have an outsized impact.

The best managers train crews to read the room. Some guests want conversation. Others want quiet. Some want every dive possible. Others may need rest but feel hesitant to miss out. Luxury service is knowing when to suggest, when to step back and when to solve a problem before it grows quietly.

Safety as a Brand Promise

In diving, safety is not simply a technical requirement. It is part of the emotional contract with the guest.

A premium liveaboard must be able to demonstrate competence without creating anxiety. Briefings should be clear, equipment should be checked, emergency procedures should be known to all crew members, and dive plans should match the day’s actual conditions.

The strongest operators do not treat safety as something hidden behind the scenes. They make it visible in a calm, reassuring way.

This includes:

• Professional dive briefings.
• Realistic current and visibility updates.
• Conservative planning where needed.
• Crew coordination between deck, tender and dive teams.
• Oxygen, first-aid and emergency response readiness.
• Guest screening without embarrassment or pressure.

Trust is built when guests see that standards are consistent.

Food, Comfort and Cultural Detail

Food on a Raja Ampat liveaboard does more than fill the time between dives. It gives structure to the day and provides comfort in a remote environment.

International guests appreciate variety, but they also value a sense of place. Indonesian flavours, responsibly sourced local seafood, tropical fruit, and thoughtful presentation can make the journey feel connected to the region.

Hospitality managers should not underestimate the importance of these moments. After a morning dive, a well-prepared meal can feel as memorable as a luxury hotel dinner, precisely because of the setting.

What the Wider Hospitality Industry Can Learn

The liveaboard model offers lessons beyond diving. It shows how premium hospitality can succeed through integration. Accommodation, activity, transport, dining and interpretation are not separate departments; they are one continuous experience.

This is relevant to hotels, resorts and tourism brands across Indonesia. Guests increasingly value coherence. They do not want fragmented service. They want the feeling that someone has thought carefully about the full journey.

The Future of Raja Ampat Liveaboard Diving

Raja Ampat’s future will depend on restraint as much as growth. Demand is strong, but the destination’s value lies in its sense of rarity. Operators, agents, investors and local authorities all have a role in maintaining that balance.

The most successful liveaboards will be those that combine commercial discipline with genuine stewardship. They will understand that luxury at sea is not about showing off. It is about delivering comfort, safety and wonder in a place where nature remains the main event.

For business readers, Raja Ampat is a reminder that the strongest hospitality brands are built on trust. In remote diving, trust is earned through preparation, humility and respect for the environment. The guest may come for the reefs, but they return because the people made the journey feel effortless, meaningful and safe.