Author: Arabian Media staff
Stay informed with free updatesSimply sign up to the Foreign exchange myFT Digest — delivered directly to your inbox.Taiwan’s dollar jumped more than 2 per cent in volatile trading on Tuesday, as the country’s massive life insurance and export sectors rushed to contain the fallout from a weak US dollar.The New Taiwan dollar closed the day 2.5 per cent stronger against the US dollar, at NT$29.16, marking its biggest single-day gain since a rapid appreciation at the start of May that exposed Taiwanese life insurers to huge losses on their holdings of US assets.Taiwan’s life insurers hold $1.7tn in overseas…
Image: Nakheel/ For illustrative purposes Dubai Holding has entered into a strategic agreement with Select Group and its joint venture partner Emirates Strategic Investments Company (ESIC) to develop large-scale projects at Palm Jebel Ali and Dubai Design District (d3), marking a milestone in the emirate’s ongoing urban expansion. The deal represents Dubai Holding’s first strategic land sale at Palm Jebel Ali to a third-party developer. The agreement reflects a shared ambition to transform two of Dubai’s key locations into prominent residential and mixed-use destinations, enhancing the city’s global positioning as a lifestyle and investment hub. Select Group will lead the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Renault is taking a €9.5bn loss on its stake in Nissan following a change in the way the French carmaker accounts for the holding in its struggling Japanese partner.Renault has been restructuring its 26-year alliance with Nissan and is gradually reducing its holding in the Japanese group, which was once as high as 43 per cent, to 10 per cent. That process has been complicated by Nissan’s sinking share price, which has fallen by almost 40 per cent in the past year.…
Stay informed with free updatesSimply sign up to the UK energy myFT Digest — delivered directly to your inbox.Britain’s energy regulator has provisionally approved £24bn of investment in the country’s gas and electricity networks, in a move that risks pushing up already elevated household energy bills. The regulator plans to sign off on £8.9bn of investment in Britain’s high voltage electricity transmission network and more than £15bn investment in gas networks between 2026 and 2031, as part of plans to bolster the UK’s energy security.It marks the first stage of a potential £80bn investment in electricity networks over the five-year…
Image: Supplied There’s a reason why the Middle East’s flagship airlines are globally renowned. When you entrust your travel to Emirates, Etihad, Riyadh Air, Qatar Airways, or any among the long list of prestigious national carriers, you’re not just booking a flight — you’re stepping into a brand that represents the future of mobility and hospitality. Everything from ticket booking to boarding feels curated, effortless, and designed with the customer in mind. You breeze through check-in, relax in the lounge, and once on board, settle into an environment where every part of your journey is carefully choreographed. Now contrast that…
Image credit: Emaar/ Website The world’s largest fountain is undergoing maintenance, and part of the extensive work includes the installation of a gleaming new floor. No matter where you sit around the lake, the upgraded flooring reflects light, giving the entire area a glowing effect. Unlike the previous surface, which was prone to cracking, the new flooring offers improved insulation and durability. Read-Emaar offers rent relief to F&B tenants hit by Dubai Fountain closure Every concrete block has been treated, primed, and sealed with a waterproofing layer to ensure long-term protection. The lake itself spans an area equivalent to 18…
Stay informed with free updatesSimply sign up to the Private equity myFT Digest — delivered directly to your inbox.Lossmaking British luxury brand Smythson, best known for its leather goods and stationery, has been offloaded to a private equity firm by its longtime owner.The brand, which started life in 1887 when Frank Smythson opened his first store on London’s New Bond Street, has been bought by Oakley Capital for an undisclosed sum. The change in ownership comes almost 16 years after it was bought by Italy’s Tivoli Group. It has struggled to recover from a slump in demand for luxury goods…
Stay informed with free updatesSimply sign up to the UK house prices myFT Digest — delivered directly to your inbox.UK house prices unexpectedly plunged in June, according to Nationwide, undershooting forecasts and recording their largest monthly fall since January 2023.The average cost of a property dropped by 0.8 per cent between May and June to £271,619, following a revised 0.4 per cent increase in the previous month, according to the lender’s data published on Tuesday. The annual growth rate fell to 2.1 per cent, down from 3.5 per cent in the previous month.Both figures were below expectations as economists polled…
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IMage: Dubai Media Office Dubai Municipality has awarded the contract for the first phase of the Dhs650m Ras Al Khor Wildlife Sanctuary Development Project, with initial works valued at Dhs100m and slated for completion by the end of 2026. The initiative aligns with Dubai’s 2040 Urban Master Plan, is part of efforts to strengthen the emirate’s position as a leading global destination for sustainable eco-tourism and biodiversity conservation. The project supports the Dubai Economic Agenda D33, which aims to place the city among the world’s top three tourism hubs. Phase one of Ras Al Khor Wildlife Sanctuary Development Project Phase…