Author: Arabian Media staff
US President Donald Trump sealed a trade deal with Indonesia and the UK had a secret plan to immigrate Afghans to Britain after a data leak. Plus, tariffs have finally hit US inflation, and climate change is driving the sale of catastrophe bonds. Mentioned in this podcast:Donald Trump announces trade deal with Indonesia Catastrophe bond sales hit record as insurers offload climate risksUK set up secret Afghan immigration scheme after data leak and gagged mediaUS inflation reaches 2.7% as Trump tariffs hitToday’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Blake Maples,…
Image: ADNOC The Abu Dhabi National Oil Company (ADNOC) said on Wednesday it plans to transfer its 24.9 per cent stake in Austria’s OMV to its wholly owned international investment arm, XRG, as part of a strategy to consolidate its global growth portfolio. The transfer, which remains subject to regulatory approvals, is in line with ADNOC’s broader push to streamline its international holdings under XRG. ADNOC reaffirmed its commitment to OMV, stating that the longstanding partnership will continue through XRG, and expressed support for OMV’s future growth and success. ADNOC advancing its efforts to set Borouge Group International In a…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Swiss luxury group Richemont’s top jewellery brands Cartier and Van Cleef & Arpels increased their sales by more than 10 per cent for the third quarter in a row, as wealthy shoppers maintained their appetite for high-end goods despite geopolitical uncertainty.The increase in jewellery sales, which account for more than two-thirds of revenues, offset a decline in Richemont’s other divisions. Excluding exchange-rate fluctuations, sales across the entire group rose 6 per cent in the three months to the end of June compared…
Image: Dubai Media Office Emirates Gas, a wholly owned subsidiary of ENOC Group, has signed a Memorandum of Understanding (MoU) with the Umm Al Quwain Free Trade Zone Authority (UAQ FTZ) to become the exclusive provider of comprehensive gas solutions to businesses operating within the free zone. The agreement marks a strategic milestone in Emirates Gas’ expansion and aligns with ENOC Group’s broader vision to deliver reliable energy solutions across the UAE. The signing ceremony took place at ENOC Group Headquarters in the presence of Sheikh Mansoor Bin Ibrahim Al Mu’alla, executive director of Ports, Customs and Free Zone Corporation…
‘When China walks into the room, the profit walks out,’ is Gave’s description of who will win AI battle Source link
Analysis of large biological dataset uncovers clues to help detect and combat neurodegenerative conditions Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Chipmaking equipment supplier ASML said the impact of US tariffs was “a bit less negative than we anticipated”, as artificial intelligence drove strong orders for its lithography machines. Sales in the Netherlands-based company’s second quarter rose 23 per cent to €7.7bn, just ahead of analysts’ forecasts. Net bookings, a closely watched metric that includes orders for chipmaking gear placed by customers but not yet delivered, were €5.5bn, better than the €4.4bn analysts had expected, according to Visible Alpha, a research company. Surging orders for…
Ripple, a global leader in digital asset infrastructure for financial institutions, has announced a strategic partnership with Ctrl Alt, a UAE-based tokenisation infrastructure platform. The partnership will see Ctrl Alt adopt Ripple’s institutional-grade digital asset custody technology to support the Dubai Land Department’s (DLD) pioneering Real Estate Tokenisation Project. Under the initiative, Dubai’s property title deeds will be tokenised and issued on the XRP Ledger (XRPL), with Ripple’s custody solution providing secure and scalable storage for the digital assets. Ctrl Alt, which revealed its involvement in the DLD initiative last month, is Ripple’s first major custody partner in the UAE…
Stay informed with free updatesSimply sign up to the UK inflation myFT Digest — delivered directly to your inbox.UK inflation unexpectedly rose to 3.6 per cent in June, in a setback for the Bank of England as it seeks evidence that price pressures are cooling alongside slowing economic growth.Wednesday’s figure from the Office for National Statistics exceeded the prediction of analysts polled by Reuters that inflation would remain at May’s level of 3.4 per cent.The numbers come as the BoE gauges whether to cut in its key interest rate again as soon as August. In June, the Monetary Policy Committee…
Top consulting firms have repeatedly found themselves facing a reputational crisis. The most recent example was in early July, when a Financial Times investigation revealed that Boston Consulting Group had modelled a plan to ‘relocate’ Palestinians from Gaza after entering into a multimillion-dollar contract to help launch an aid scheme for the enclave. In this week’s episode, the FT’s US accounting editor, Stephen Foley, explains his reporting and examines what these events say about how effective the consulting industry’s ability to avoid reputational scandals is. Clips from the UN – – – – – – – – – – -…