Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UK credit card borrowing costs have soared to the highest levels in nearly two decades as falls in personal loan rates have paved the way to fresh options for consumers to tackle debt.The average annual percentage rate (APR) from the start of March until the start of June rose to 35.7 per cent, the highest on record since at least 2006, according to data provider Moneyfacts UK.The average interest rate on cash withdrawals from credit cards also hit record levels over the…
Image: Getty Images As the world embraces rapid technological advancements, the digital landscape is evolving at an unprecedented pace. Innovations like cloud computing, IoT, AI, and blockchain are reshaping industries, but they also bring growing cyber threats. With cybercrime projected to cost the global economy trillions annually, cybersecurity has become cornerstone of digital resilience and economic stability. In Saudi Arabia, stc group is leading the charge, advancing cybersecurity to protect businesses, individuals, and the kingdom’s digital future. With a cybersecurity index (CS Index) rating of 89.88 per cent and a capability maturity level of 4.51 surpassing the global telecom average…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.British retail sales suffered their steepest drop in 18 months in May as consumers cut back on purchases of food and household goods.Friday’s figure from the Office for National Statistics showed sales tumbled 2.7 per cent last month, below the 0.5 per cent decline forecast by economists polled by Reuters and the biggest monthly fall since December 2023.The drop was led by a 5 per cent fall in sales at food stores and a 2.5 per cent decline in household goods as…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.France has lobbied fellow EU countries to pledge additional measures aimed at raising the euro’s profile as a global reserve currency, as part of Paris’ long-standing campaign for more joint borrowing. A draft EU statement circulated ahead of a leaders’ summit later this month, seen by the Financial Times, asks the bloc’s institutions including the European Central Bank “to explore actions to reinforce the international role of the euro”. The push was prompted by US President Donald Trump’s erratic trade and economic…
Image: Dubai Media Office Dubai Municipality has completed a Dhs277m sewerage and rainwater drainage network development project in Nad Al Sheba 3, covering 340 hectares and serving up to 300 plots of land. The project aligns with the emirate’s strategic goals to bolster infrastructure resilience. The initiative is part of two major programmes: the Dhs30bn ‘Tasreef’ project for rainwater drainage and the Dhs80bn sewerage system upgrade. It aims to enhance public health, environmental sustainability, and operational efficiency while ensuring readiness for future climate challenges. Engineer Marwan Ahmed bin Ghalita, director general of Dubai Municipality, said the project supports Dubai’s ambition…
The so-called SPAC king, who created a dozen special-purpose acquisition vehicles that lost investors billions of dollars, says he’s getting back in the business. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US private equity giant Apollo will provide £4.5bn in debt financing to support the UK’s Hinkley Point nuclear project, in a deal that will help ease financial pressures on the flagship development.The investment grade financing will be provided as unsecured debt at an interest rate just below 7 per cent, people familiar with the matter said.The funding could be used for other UK projects by French state-owned electricity group EDF, but Hinkley Point is expected to be the primary target for the…
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereToday’s agenda: French push for euro as global reserve currency; Zuckerberg’s macho-man makeover; bitcoin hoarders; and Mozambique’s national park renewalGood morning and welcome back to FirstFT. Donald Trump has said there could be new talks with Iran in the “near future” and that he would decide whether to join Israel’s attack on the country “within the next two weeks”. What we know: Trump appeared to signal…
Image credit: WAM/ Website The Department of Health – Abu Dhabi (DoH) and Abu Dhabi Public Health Centre (ADPHC) have announced the launch of a first-of-its-kind Personalised Weight Management Programme in the region. Combining digital monitoring, a unique reimbursement model, and tailored clinical support, the initiative promotes sustainable weight management and active living. It aims to significantly reduce the risk of chronic diseases such as type 2 diabetes, heart disease, and certain cancers—ultimately enhancing quality of life and health longevity. Innovative model for long-term health impact The programme is open to eligible Thiqa members aged 18 and above who are…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Canada’s Prime Minister Mark Carney will impose measures to counter the oversupply of steel and aluminium imports and may increase levies on the US, as increasingly protectionist measures are deployed in the global tariff war over crucial industrial inputs.Carney on Thursday said Canada has launched 100 per cent tariffs on non-US steel and aluminium imports and on July 21 would “adjust” its 25 per cent counter-tariffs on the two metals imported from the US based on talks with Washington. The move comes…