Author: Arabian Media staff
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…
One big event to start: We’re hosting the definitive event on private capital this autumn in London, where industry leaders will debate where the market’s headed, how to track down opportunities and what might be at risk of blowing up next. Want to be there? It’s invite-only, but as a DD subscriber, you can apply here to attend the summit on October 14.Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is an on-site version of the newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday to Friday. Standard…
Image: Getty Images Saudi Arabia ranked first globally in the growth of international tourism receipts in Q1 2025 compared to the same period in 2019, according to the latest World Tourism Barometer published by UN Tourism. The kingdom also placed third worldwide and second in the Middle East in growth of international tourist arrivals, highlighting its expanding role on the global tourism map. During Q1 2025, Saudi Arabia recorded a 102 per cent surge in international arrivals compared with Q1 2019, far exceeding the global average of 3 per cent and the Middle East’s 44 per cent, the UN report…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is chief executive of Lloyds Banking Group and a member of the British Infrastructure Taskforce and the Defence & Economic Growth TaskforceThere has been some sobering news on the state of the UK economy over the past week. Weaker than expected data showed a contraction in GDP in May, the second month in a row of decline. That came after a warning by the Office for Budget Responsibility that the country’s ability to respond to future shocks has been severely weakened.…
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereToday’s agenda: Frozen Russian assets; EU budget plan’s eastward shift; Loro Piana case; UK tax reform; and the ‘cat bond’ marketGood morning. We begin in Washington where Donald Trump has threatened Russia with “severe” tariffs and other financial penalties if the war in Ukraine does not end soon.What happened: During a meeting with Nato secretary-general Mark Rutte in the Oval Office yesterday, the US president said…
Image: Supplied Kazakhstan has unveiled its first national supercomputer in a strategic partnership with UAE-based Presight, marking a milestone in the country’s digital transformation agenda. The launch event, attended by President Kassym-Jomart Tokayev and top government and technology leaders, was developed by the Ministry of Digital Development, Innovation and Aerospace Industry, in collaboration with Presight, a subsidiary of Abu Dhabi’s G42. The supercomputer to support Kazakhstan’s AI and research ecosystem Designed to support large-scale AI innovation, national data security, and cross-border cooperation, the supercomputer will serve as the technological backbone of Kazakhstan’s AI and research ecosystem. It will enable advanced…