Author: Arabian Media staff
Ric Edelman argues that the time to invest in cryptocurrencies is now, while 95% of the world is still asleep. Source link
India has been a money machine for Jane Street, netting the trading giant more than $4bn in profits in just over two years. But it is now the source of a scandal that is imperilling the Wall Street firm’s golden run.The Securities and Exchange Board of India last week accused Jane Street of a “sinister scheme” to manipulate Indian stocks and derivatives, temporarily banned its activities in the country and impounded more than $550mn of “illegal gains” — the most draconian penalty it has ever levied. It is now expanding its probe into the firm’s trades in other parts of India’s…
Image: Getty Images du, a telecom and digital services provider in the UAE, has renewed its strategic partnership with Huawei to accelerate Emiratisation and equip local talent with advanced technological capabilities. The renewed collaboration aims to foster innovation, support the UAE’s national strategies, and reinforce du’s leadership in the digital and telecommunications sectors. The two companies will continue building on a longstanding relationship focused on ICT infrastructure and network development. The renewed agreement will place a strong emphasis on upskilling du employees, including future leaders, in areas such as artificial intelligence, data analytics, 5G, and cloud computing. These efforts are…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Doctors in England will go on strike for five days this month, in a sharp escalation of their dispute with Wes Streeting that further threatens the health secretary’s promise to cut NHS waiting times. The British Medical Association said on Wednesday that resident doctors — formerly known as junior doctors — would walk out from 7am on July 25 until 7am on July 30.The announcement of the strike — the first in a year — comes a day after the country’s main…
Stay informed with free updatesSimply sign up to the Travel & leisure industry myFT Digest — delivered directly to your inbox.Spanish casino operator Cirsa rose on its stock market debut in Barcelona after the Blackstone-owned company pressed ahead with its initial public offering in the face of heightened stock market turbulence. Cirsa’s shares rose as much as 6.7 per cent to €16 at the open, pushing its stock market value to €2.7bn, compared with an IPO valuation of €2.5bn. The shares subsequently pared some of those gains to trade at €15.2. It was Spain’s second-largest IPO this year — oversubscribed…
Image: Getty Images Indian telecom and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its IPO this year as planned, delaying one of the country’s most anticipated stock offerings, two people familiar with the matter said. Valued by analysts at over $100bn, Jio wants to achieve higher revenues and a bigger subscriber base for its telecom business, and expand its other digital offerings, so that its valuation can increase further before an IPO, said the first source in describing the rationale for the delay. Shares of its parent conglomerate Reliance Industries RELI.NS fell sharply…
Stay informed with free updatesSimply sign up to the UK property myFT Digest — delivered directly to your inbox.Chancellor Rachel Reeves will next week launch a permanent mortgage guarantee scheme to help first time buyers get on the housing ladder during times of economic stress.Reeves will confirm the government-backed scheme in her Mansion House speech, as part of a range of measures that she claims will help ordinary voters with their finances, according to officials briefed on her plans.In April 2021, the Conservative government launched a mortgage guarantee scheme during the Covid pandemic, but it was intended to be a…
Economists will be reading the minutes of the Federal Reserve’s June meeting to get a sense of what might have to happen in order for the central bank to cut interest rates in September. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.It would be a nice touch if Rachel Reeves were to stick some cotton wool in her mouth — à la Marlon Brando mumbling his way into the screen role of The Godfather — for next week’s Mansion House speech.But even if she does not, it will be clear she is making the pensions industry “an offer it can’t refuse”.Don Corleone underlined his point with a horse’s head in the bed of an unco-operative Hollywood producer. The chancellor is expected to demonstrate…
Image: Dubai Islamic Bank website Dubai Islamic Bank (DIB), the world’s first Islamic bank and the largest in the UAE, has announced the successful completion of a $1bn syndicated term-finance facility for the Government of Pakistan. The transaction was arranged in collaboration with a consortium of regional and international financial institutions. Structured over five years, the facility includes a significant Islamic financing component, with approximately 89 per cent of the total structured as an AAOIFI-compliant Commodity Murabaha. This underlines Pakistan’s continued push to expand its access to Shariah-based funding. The transaction is notable for being partially guaranteed by a Policy-Based…