Author: Arabian Media staff
The Gulf Cooperation Council (GCC) is now home to three sovereign wealth funds with assets under management (AUM) exceeding $1tn each, according to the July 2025 rankings published by Global SWF, highlighting the region’s growing influence in global capital markets. Topping the GCC list is Saudi Arabia’s Public Investment Fund (PIF), with AUM estimated at $1.15tn, followed by the Abu Dhabi Investment Authority (ADIA) with $1.11tn, and Kuwait Investment Authority (KIA), which just crossed the $1tn threshold with $1.002tn. Globally, the top sovereign investor remains Norway’s Norges Bank Investment Management (NBIM), managing $1.76tn in assets. It is followed by China’s…
Stay informed with free updatesSimply sign up to the Climate change myFT Digest — delivered directly to your inbox.Central bankers are more like David Cronenberg than Steven Soderbergh — they don’t hop around between genres trying to create a quirky feel-good experience, they just stick to what they know and hit you with repeated waves of existential horror. The latest summer blockbuster from the ECB Blog is a perfect example — if you take a minute to think about what it’s saying, it will chill your spine.Here’s the jump scare to end them all:That orange line is a climate risk…
Investors attracted by high yields, while recent natural disasters have failed to trigger losses for bondholders Source link
Low-cost carrier Wizz Air is actively addressing refund requests from affected passengers on X (formerly Twitter), following its decision to suspend all flights to and from Abu Dhabi by 31 August 2025. In an official statement on X, the airline said: “Passengers with existing bookings beyond 31 August 2025 will be contacted directly via email with options for refunds or alternative travel arrangements. Customers who booked through third-party providers are advised to contact their respective agents. The above suspensions do not affect other flights of the Wizz Air group.” The move, described by Wizz Air as a response to “geopolitical instability, repeated airspace…
Stay informed with free updatesSimply sign up to the Fintech myFT Digest — delivered directly to your inbox.Starling Bank is examining the case for listing in New York, as the UK digital bank presses ahead with an expansion into the US.Declan Ferguson, the chief financial officer of the London-based fintech, told the Financial Times that Starling was currently weighing a US listing, where it could potentially achieve a higher valuation.“We continue to observe what is happening externally with our peers, and also what is happening on the global stage in terms of the UK versus US [stock markets],” he said.…
Image credit: Tesla/Website Tech billionaire Elon Musk’s Tesla TSLA.O has priced its Model Y at about $69,770 in India, the highest among major markets, its website showed, as the electric carmaker geared up to open its first showroom in Mumbai on Tuesday, July 15. With delivery estimated to start from the third quarter, Tesla will drive on to India’s busy roads, targeting a niche premium EV segment that accounts for just 4 per cent of overall sales in the world’s third-largest car market. Read-Tesla to launch in Saudi Arabia as Musk, kingdom mend relations It will compete mainly with German…
Plus, is the emerging markets party over? Source link
James Litinsky made a $100mn bet in 2015 on the distressed debt of a flailing natural resources company. His wager has now paid off spectacularly, after Donald Trump’s administration thrust the group to the centre of the US strategy to counter China’s dominance in critical minerals. Shares in Litinsky’s MP Materials surged 48 per cent last week after the Pentagon agreed to take a $400mn, 15 per cent equity stake in MP Materials and buy its output for 10 years at double the current market price. The rally handed Litinsky a $200mn boost to his personal wealth, and brought the group’s stock…
Stay informed with free updatesSimply sign up to the Accountancy myFT Digest — delivered directly to your inbox.A UK regulator has strongly criticised audits by BDO, saying the work fell “significantly short” as it concluded that the mid-tier accounting firm was the worst performer among its peers during annual inspections. The findings by the Financial Reporting Council highlight the challenge BDO faces as it tries to break the stranglehold of the Big Four firms — Deloitte, EY, KPMG and PwC — on listed companies’ audits while ensuring its work complies with the watchdog’s requirements. The FRC said only 50 per cent…
This article is an on-site version of our Europe Express newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday and fortnightly on Saturday morning. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. News to start: The EU’s next seven-year, €1tn budget is set to benefit eastern states bordering Russia and ease oversight over regional development cash, according to a leaked plan seen by the Financial Times.Today, the UN’s former point person in Gaza questions the details of the EU’s aid deal with Israel, and our energy correspondent hears concerns that…