Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Two former leaders of a UK “magic circle” law firm have founded a consultancy to advise on private capital investments into the legal sector, as record profits in the industry drive external interest in the firms.Wim Dejonghe and David Morley, former managing partners at Allen & Overy — now A&O Shearman — launched Dejonghe & Morley on Monday and said they were working with several potential investors. The venture is a sign of growing interest from private equity and family offices in…
Stay informed with free updatesSimply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox.Lenders that specialise in “buy now, pay later” services will have to abide by the same rules as mainstream banks under long-awaited legislation that will result in them being fully regulated by the Financial Conduct Authority. The UK government will on Monday bring forward legislation, more than four years after the previous Conservative administration announced plans to regulate the sector.Under the rules, lenders such as Klarna and Clearpay will be required to check shoppers’ affordability before offering loans, while borrowers will…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Legal & General, the British finance company that is one of Europe’s largest asset managers, has acquired a real estate investor as part of a strategic push into private markets under chief executive António Simões.L&G, which manages £1.1tn in assets, has taken a 75 per cent stake in Proprium Capital Partners, a $3.5bn global real estate private equity group, the companies have confirmed. Under the terms of the deal, which is subject to regulatory approval, L&G will eventually acquire 100 per cent…
Strategists warned the move, announced after the market close on Friday, could spark some near-term selling in stocks and Treasurys. Source link
U.S. Treasury Secretary Scott Bessent warned Sunday that some of America’s trading partners could soon face a sharp hike in tariff rates, and dismissed Moody’s downgrade of the U.S. government’s credit rating. Source link
Image: Supplied At the 2025 Arabian Travel Market in Dubai, Expedia Group unveiled a series of strategic initiatives aimed at deepening its presence in the Middle East. From the launch of its Travel Agent Affiliate Program (TAAP) in the UAE to expanded partnerships with Emirates and Adeera, the global travel platform is doubling down on technology, B2B solutions, and destination marketing to fuel regional tourism growth. We spoke with Rob Torres, SVP of Expedia Group Media Solutions, about the company’s vision, evolving traveller trends, and what’s next for Expedia in the region. What did Expedia Group showcase at this year’s…
Image: UCIC United Carton Industries Company (UCIC), the Middle East and North Africa’s largest corrugated carton manufacturer, announced the successful completion of its retail subscription period, with the tranche oversubscribed 8.91 times and participation from 396,601 individual investors. The retail offering, comprising up to 2.4 million shares or 20 per cent of the total 12 million shares on offer, concluded on May 13. The company said the total demand reached SAR1.069bn (approx. $285m). United Carton Industries IPO: Offer price set at SAR50 per share Each subscriber will receive a minimum of six shares, with the remaining shares allocated on a…
Britain and the EU will on Monday agree a major post-Brexit reconciliation, but haggling over key details including fisheries, food trade and youth mobility dragged on into Sunday evening as both sides engaged in eleventh-hour brinkmanship.A historic summit at Lancaster House in London will see both sides sign a security and defence partnership, the centrepiece of the “reset” and a recognition that the whole continent needs to pull together to confront the threat from Russia.Sir Keir Starmer will sign the defence pact and a communiqué promising deeper economic co-operation during a two-hour meeting with European Commission president Ursula von der…
With its massive population and bustling economy, India is an engine of growth. As the Indian economy has grown, so has the value of its public companies. In 2024, India’s stock market capitalization surpassed Hong Kong’s for the first time, becoming the fourth-largest market for public equities in the world. According to data compiled by Bloomberg, on Jan. 22, 2024, the value of shares listed on Indian exchanges reached $4.33 trillion, compared to $4.29 trillion for Hong Kong. Key Takeaways India has two primary stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).The BSE is India’s…
Image credit: Getty Images Foreign pilgrims will be allowed to arrive in Saudi Arabia for Umrah starting on Dhul Hijjah 15, corresponding to June 11, 2025. Read-Umrah travel expansion: 2.5m airline seats targeted for pilgrims This is in accordance with the official Umrah calendar announced by the Ministry of Hajj and Umrah for the year 1447, according to a Saudi Gazette report. The Calendar The calendar includes key information such as visa issuance dates, agreements with foreign agents, and deadlines for entry and departure of pilgrims coming from outside the Kingdom. According to the ministry, Umrah visa issuance will begin…