Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.One of Hong Kong’s biggest property developers is in talks to refinance billions of dollars in bank loans following years of ambitious debt-fuelled expansion, adding to pressures in the Chinese territory’s struggling real estate market.New World Development borrowed money for projects that people inside and outside the company have characterised as “aggressive”. They include a HK$20bn (US$2.6bn) retail and office space near Hong Kong’s airport and several mainland Chinese developments, including a $1.3bn mixed-use complex in Shenzhen.This week the company said it…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldSpain’s Prime Minister Pedro Sánchez left this week’s Nato summit with a smaller defence bill than the alliance’s other members, but Donald Trump warned the EU’s top leftwing leader that he would be made to pay in other ways.After Sánchez’s resistance to a new spending target riled many European colleagues, the US president accused Spain of seeking a “free ride” and threatened to “make them pay twice as much” in tariffs to the US as part of a trade deal.In…
Ellen DeGeneres reveals a rare look inside her $18 million retreat, including some fuzzy new friends. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The BBC will charge US users for access to its journalism through a subscription fee for its overseas website to boost revenues ahead of crucial negotiations over future funding. On Thursday, the UK licence fee funded broadcaster will reveal plans to offer a subscription of $49.99 per year, or $8.99 per month, for US users to get unlimited access to its news, features and livestream of the BBC News channel. The UK national broadcaster described it in a statement on Thursday as “the first…
After decades of being labelled risk-averse technology laggards, corporate legal departments are emerging as enthusiastic early adopters of artificial intelligence.Legal services — often information-dense, analytical and procedural — are fertile ground for the AI-powered automation of tasks including drafting contracts and providing initial legal opinions, experts say.For in-house legal teams considering AI legal tools, an early and important question is whether to build tools in-house or buy them from a software supplier. What are the pros and cons of each approach?The buildersGiven the complexity and cost of designing, testing and rolling out proprietary software, many companies building their own legal…
When RSM Tenon, the UK’s first publicly listed accounting firm, collapsed in 2013, it marked the failure of the profession’s decade-long experiment with the public markets.A number of acquisitions left the UK’s then top-10 auditor saddled with debt it couldn’t service and accounting errors that regulators put down to “extensive misconduct”. RSM Tenon was put into administration and investors moved on.But the experiment is suddenly back on. In a profession that historically operated as private partnerships, advisers and executives are predicting a wave of initial public offerings in the next few years.Advocates say firms’ interest in the public markets is…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Associated British Foods has upped the stakes in its stand-off with the UK government over the future of Britain’s largest bioethanol plant, as a new trade pact with the US threatens to flood the market with tariff-free ethanol.The grocery and retail conglomerate on Thursday said it had entered formal negotiations with officials over the future of the Vivergo biofuel business, and had launched a consultation with employees to effect a “wind-down” of the facility in case those talks failed. “Unless the government…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The author is Professor of Sustainable Finance at Vlerick Business School in Brussels Sergio Ermotti, chief executive of UBS, is facing a dilemma as he considers his bank’s future in a network created to drive global climate action but which has been left exposed since the re-election of US President Donald Trump. Created in 2021, the Net-Zero Banking Alliance committed its members to “align lending and investment portfolios with net zero emissions by 2050”. Voluntary sustainability initiatives have however fallen out of…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Private equity-backed software group Visma has chosen London over Amsterdam for the planned initial public offering of the €19bn software company next year, scoring a rare win for the UK’s beleaguered stock market.British buyout firm Hg has owned Visma, which provides small to medium-sized businesses with accounting and payroll software, since 2006 when it took the company private at a valuation of about £380mn. Since then the UK-based private equity firm has repeatedly reinvested in Visma through its newer funds and cashed…
The Central Bank of the UAE (CBUAE) increased its gold reserves by 19.3 per cent in Q1 2025, adding Dhs4.444bn to reach a total of Dhs27.425bn at the end of March, up from Dhs22.981bn at the close of 2024, according to data released in the bank’s latest statistical bulletin. The move comes amid heightened volatility in global markets and continued diversification of the UAE’s reserve assets. In addition to the rise in gold holdings, the CBUAE reported robust growth in various categories of banking deposits. Rise in gold, demand deposits in Q1 Demand deposits grew to over Dhs1.147tn at the…