Author: Arabian Media staff
Paramount Skydance’s addition of three Gulf sovereign wealth funds to the cast of its $108bn hostile bid for Warner Bros Discovery WBD.O marks a relatively rare alliance among the states as they build their own entertainment industries. Saudi Arabia’s Public Investment Fund (PIF,) Abu Dhabi’s L’imad Holding Company, and the Qatar Investment Authority (QIA) have agreed to back the deal, Paramount PSKY.O said on Monday. Paramount also has backing from Affinity Partners, started by Jared Kushner, which has investments from funds in Qatar and the United Arab Emirates. The decision to join forces on a single bid and grab a share of some of Hollywood’s crown jewels underscores…
The Dubai Land Department (DLD), in partnership with Dubai Holding Community Management, has approved the emirate’s first-ever three-year fixed service fees for the Palm Jumeirah Master community—a move aimed at strengthening financial stability and transparency across jointly owned properties (JOPs). Under the new mechanism, management companies of JOPs can now submit and secure approval for a three-year service-fee budget through the ‘Mollak’ system, while still retaining the option to continue with the traditional one-year model. The initiative is designed to provide greater predictability for owners and investors and enable management firms to engage in longer-term operational contracts with service providers.…
The National Centre of Meteorology (NCM) has issued a detailed weather report covering the period from the evening of 12 December through 19 December, indicating a spell of unstable conditions across the UAE. According to the NCM, the country is being influenced by the extension of a surface low-pressure system accompanied by an upper-level low-pressure system that will deepen and weaken at intervals throughout the week. The system is expected to generate varying cloud formations along with a chance of scattered rainfall occurring intermittently. Wind patterns will fluctuate, the NCM said, shifting between southeasterly and northeasterly, and occasionally turning northwesterly.…
Image: Supplied Qatar Sports Investments (QSI) has announced its forthcoming acquisition of KAS Eupen, the historic Belgian football club currently competing in the Challenger Pro League. The move expands QSI’s global sports portfolio, which includes majority ownership of Paris Saint-Germain, a minority stake in Sporting Clube de Braga, and wider investments across padel, motorsports, basketball, art and entertainment. QSI has signed a Memorandum of Understanding (MoU) for the full acquisition of KAS Eupen, subject to regulatory approvals. The agreement includes the immediate takeover of the club’s sporting operations, with QSI set to assume full operational control of all sporting, commercial,…
State energy major Saudi Aramco 2222.SE plans to start exporting the first condensate produced from the Jafurah gas plant in February, two sources with knowledge of the matter said on Tuesday. The $100bn Jafurah project, estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensate, is central to Aramco’s ambitions to become a major global natural gas player and boost its gas production capacity. Its first phase started production early this month, the Saudi finance ministry said. Aramco could export four to six 500,000-barrel cargoes of Jafurah condensate per month, one of the sources said, without giving…
Elon Musk’s SpaceX is pursuing an initial public offering next year, looking to raise more than $25bn, with a valuation over $1tr, a source familiar with the matter told Reuters on Tuesday. SpaceX has started discussions with banks about the public listing, which could be around June or July, the person said. Musk had said in 2020 that SpaceX planned to list Starlink several years in the future once its revenue growth became “smooth & predictable”. SpaceX did not immediately respond to a Reuters request for comment. Saudi’s Aramco 2222.SE remains the only completed IPO to have achieved a valuation of $1tr…
George Naddaf, managing director of eToro MENA/Image: Supplied Trading and investing platform eToro has unveiled its new UAE-Economy Smart Portfolio, giving retail investors worldwide direct exposure to leading companies listed on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM). George Naddaf, managing director of eToro MENA, said: “The UAE is one of the fastest-expanding economies in the world, supported by strong GDP growth, government reform, and growing non-oil sectors. Local companies, particularly in banking, telecoms, and energy, are known for their attractive dividend yields which are often among the highest in emerging markets.” He added: “Dubai’s and…
Image credit: Dubai Media Office/Website Dubai Police has unveiled a set of specialised strategies aimed at enhancing road safety and reducing traffic accidents across the emirate. These include a joint road safety initiative with the Roads and Transport Authority (RTA) and two dedicated programs designed to cut accidents and foster a safer traffic environment for all. The strategies were reviewed during a visit by Lieutenant General Abdulla Khalifa Al Marri, Commander-in-Chief of Dubai Police, to the General Department of Traffic as part of the annual inspection programme. He was accompanied by Major General Hareb Muhammad Al Shamsi, Deputy Commander-in-Chief for…
Image: Supplied In an age where culinary capital is often measured by heritage, think Parisian bistros or New York delis, it’s time to recognise Dubai’s rapid ascent. A decade ago, such a claim might have seemed audacious. Today, Dubai is poised to outrank Paris, London, Tokyo, and New York as the world’s leading food capital. Dubai welcomed a record-breaking 18.7 million overnight visitors in 2024, a 9.1 per cebt increase over 2023, according to data from Dubai’s Department of Economy and Tourism (DET), as cited by Cavendish Maxwell. Dubai‘s hotel occupancy levels reached 81 per cent in the first half…
Image credit: Supplied Cybersecurity is undergoing a dramatic transformation driven by the rise of artificial intelligence. Threats are growing in complexity and speed and many businesses are demanding AI-powered solutions to counter them. In fact, 94 per cent deem them crucial, and with good reason: in 2024, organizations using AI and automation extensively in prevention averaged savings of $2.2m versus those that didn’t. Vendors are racing to capitalise on this demand with campaigns built on “next-gen” AI features, but amid the surge of solutions, one truth stands out: not all are created equal. AI models, by nature, are only as…