Author: Arabian Media staff

This article is an on-site version of Free Lunch newsletter. Premium subscribers can sign up here to get the newsletter delivered every Thursday and Sunday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersLast year, I praised two reports about the EU’s economic challenges by former Italian prime ministers Enrico Letta and Mario Draghi — but wrote that “Brussels is the place where good reports come to die”. I am pleased to admit that I was wrong in this case. Neither report has died, even though far too little of either has been implemented. This week’s anniversary…

Image: MBC Group Saudi Arabia’s Public Investment Fund (PIF) has completed the acquisition of a 54 per cent stake in MBC Group Company, the leading media and content producer in the Middle East and North Africa, through a private transaction with Istedamah Holding Company. Under the deal, PIF purchased 179.55 million shares for SAR7.469bn ($1.992bn), at SAR41.60 per share. MBC Group reaches approximately 150 million viewers weekly across the globe, offering a range of content including entertainment, drama and sports. MBC stake key to PIF’s focus on media sector The acquisition underscores PIF’s continued focus on the media sector as…

Tensor, an agentic AI company, will unveil the Tensor Robocar, the world’s first personally owned Level 4 autonomous vehicle, at the Dubai World Congress for Self-Driving Transport 2025, one of the UAE’s premier global innovation platforms. The event will mark the company’s first public showcase in the Middle East, underscoring a major milestone in Tensor’s mission to transform mobility. Developed over a decade of proprietary engineering, advanced AI, and ground-up autonomous design, the Tensor Robocar redefines personal transportation by combining freedom, privacy, and true ownership of AI. “When the world shifts, how will you move?” said Amy Luca, chief marketing…

Image: Meta Meta Platforms on Wednesday launched its first consumer-ready smart glasses with a built-in display, seeking to extend the momentum of its Ray-Ban line, one of the early consumer hits of the artificial intelligence era. CEO Mark Zuckerberg showed off the Meta Ray-Ban Display and a new wristband controller, receiving applause at Meta’s Connect event despite some demo problems. Meta has tasted success with its smart glasses, and Zuckerberg described them as the perfect way for humans to reach for the AI promise of “superintelligence.” “Glasses are the ideal form factor for personal superintelligence, because they let you stay…

Image credit: Getty Images Gold prices extended losses on September 18, as the dollar firmed after the US Federal Reserve cut interest rates by an expected quarter of a percentage point and adopted a measured rhetoric on further policy easing. Spot gold dipped 0.6 per cent to $3,637.41 per ounce, as of 0636 GMT, after hitting a record high of $3,707.40 on Wednesday. Read more-US Fed cuts rates for first time this year: How it will impact the GCC US gold futures for December delivery slipped 1.2 per cent to $3,671.30. “The general message from the Fed was slightly to…

Image: Getty Images/ For illustrative purposes The US Federal Reserve cut its benchmark interest rate by 25 basis points (bps) on September 17, lowering the federal funds target range to 4–4.25 per cent, the first reduction since December 2024. The move, aimed at cushioning the economy from a weakening labour market, had been fully priced in by investors after chairman Jerome Powell’s dovish tone at Jackson Hole and signs of cooling employment. The S&P 500 rose 3 per cent in the past month in anticipation of the decision. In its statement, the Fed said: “Recent indicators suggest that growth of…

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The update spans four years, from 2026 through 2029, and is aimed at ensuring transparency and continuity in financial services The post Saudi Central Bank announces 4-year holiday calendar for banks: What you need to know appeared first on Gulf Business. Source link

Image: Getty Images/ For illustrative purposes Artificial intelligence (AI) could boost the value of cross-border flows of goods and services by almost 40 per cent by 2040 if supported by the right enabling policies, according to the World Trade Organization’s (WTO) 2025 World Trade Report published on Thursday. The WTO Secretariat’s flagship publication said productivity gains and lower trade costs from AI could drive significant increases in both trade and global output. Under different scenarios, global trade is projected to expand by 34 per cent to 37 per cent by 2040, while global GDP could rise by 12 per cent…

Flexjet Gulfstream G700/Image: Supplied Flexjet, a global firm in luxury private aviation, announced the official addition of the Gulfstream G700 to its fleet, expanding one of the world’s most sophisticated large-cabin aircraft collections. The G700, Gulfstream’s largest and fastest jet to date, now offers Flexjet Owners access to a new benchmark of bold design, luxury, and performance in the fractional jet ownership marketplace. Unlike the years-long wait facing direct buyers, Flexjet Owners can gain immediate access to the aircraft, which remains in limited supply globally. Flexjet is introducing the programme with three of these $96m jets already in operation. “True…