Author: Arabian Media staff

Image credit: Riyadh Air/ Website Riyadh Air, Saudi Arabia’s new national airline, has signed a memorandum of understanding (MoU) with Rolls-Royce to acquire 100 Trent XWB-97 engines for its future fleet of 50 Airbus A350-1000 aircraft. The agreement was announced during the 55th Paris Air Show at Le Bourget and marks a major milestone in the airline’s global expansion strategy. Read-Riyadh Air signs deal for 50 Airbus A350-1000 aircraft at Paris Air Show The Trent XWB-97, developed specifically for the Airbus A350-1000, is recognised as the most efficient large aircraft engine in service. It delivers up to 97,000 pounds of…

LVMH’s wine and spirits division, Moët Hennessy, has long been a source of success – and cash – for the luxury goods behemoth. But more recently, that’s changed. The FT’s Paris correspondent Adrienne Klasa, found that certain strategic decisions made under the company’s former CEO have contributed to a change in its fortunes. She examines the missteps and whether the division can make a comeback. Clips from Olympics- – – – – – – – – – – – – – – – – – – – – – – – – – For further reading:Moët Hennessy’s crisis: dubious deals,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.OpenAI chief executive Sam Altman has accused Mark Zuckerberg’s Meta of trying to poach his developers with the promise of $100mn sign-on bonuses and even higher compensation, as the social media platform races to catch up in the AI battle.Altman said Meta, which has a market capitalisation of $1.8tn, had begun to make the “giant offers” to employees on his team after falling behind on their current AI push. “I’ve heard that Meta thinks of us as their biggest competitor,” Altman said…

Image: Supplied In this interview, Niall Sallam, founder and CEO of Elevision, discusses how digital out-of-home (DOOH) is changing in the region — with a clear move toward programmatic capabilities, data-driven targeting, and content that fits within the wider digital ecosystem. From Elevision’s new partnership with Dubai Design District (d3) to its expansion into international markets, Sallam outlines how the company is adapting to industry demands, supporting property partners, and aligning with the UAE’s broader push for innovation and smart infrastructure. How have regional DOOH trends evolved in the past year, and what shifts do you anticipate in the coming…

Stay informed with free updatesSimply sign up to the Industrials myFT Digest — delivered directly to your inbox.The closure of the UK’s largest fibre glass factory will be confirmed on Wednesday despite efforts by ministers to find a last-minute buyer, in a blow to the government’s industrial strategy.Electric Glass Fiber UK, which manufactures glass fibres used in electric cars and wind turbines in Wigan, employs about 250 people and has been hit by a combination of weak sales and Britain’s high industrial electricity prices.The factory’s Japanese owner, Nippon Electric Glass, decided in a board meeting in Tokyo on Wednesday to…

Stay informed with free updatesSimply sign up to the Chinese economy myFT Digest — delivered directly to your inbox.China’s central bank governor has said he expects a new global currency order to emerge after decades of dominance by the US dollar, with the renminbi competing in a “multi-polar international monetary system”.Speaking at China’s flagship financial forum in Shanghai, Pan Gongsheng said the US dollar had “established its dominance” after the second world war and “retained its status up till now”. He warned of “excessive reliance” on a single currency. “In the future, the global monetary system may continue to evolve…

Image: Getty Images/ For illustrative purposes For years, the UAE has been a preferred base for multinational businesses, offering a tax-friendly environment that’s attracted companies from around the world. Now, a new global tax framework is reshaping how large companies handle their tax obligations. From January, MNEs operating in the UAE  need to comply with Pillar Two, a global minimum tax framework introduced by the OECD and G20. The idea is simple: if a company’s effective tax rate in any country falls below 15 per cent, it will be required to pay a top-up tax to bring it up to…

Stay informed with free updatesSimply sign up to the Energy sector myFT Digest — delivered directly to your inbox.The writer is executive director of the International Energy AgencyAs the world’s energy system changes, so too does the nature of energy security.Governments around the world pay close attention to ensuring secure supplies of the traditional fuels on which many of their energy systems rely, including oil, gas and coal. The recent blackout on the Iberian peninsula provided a stark reminder of the vital importance of electricity security. But alongside these well-established areas, the issue of supplies of the minerals that go…

We’re just a week away from our next Gulf Business panel event in Dubai on 25 June, this time zeroing in on the hottest investment trends shaping the UAE. The team has assembled a standout speaker lineup to tackle everything from residence-by-investment (think golden visas), to the UAE IPO outlook for 2025 and beyond. We’ll also examine how the world’s largest generational wealth transfer is set to reshape investment strategies in the UAE and across global markets in the years ahead. For each session, we’ve brought together experts from the investment, banking and business-setup sectors. Top speakers include Damian Hitchen (CEO, Saxo…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A biotech company founded in Wales last year has raised $140mn in its first financing round to develop drugs for severe depression and other brain disorders that have few safe and effective treatment options. Draig Therapeutics, named from the Welsh word for dragon, was formed by a partnership between Cardiff University’s Medicines Discovery Institute and venture capital firm SV Health Investors. Five other investment funds joined the oversubscribed Series A round.The funding will enable Draig to move its lead drug candidate DT-101…