Author: Arabian Media staff
Image credit: Supplied Dubai Sotheby’s International Realty has brokered the sale of a residential plot on Palm Jumeirah for Dhs365m ($100m), setting a new record for the island’s most expensive land transaction in 2025. The 90,036 square feet freehold plot occupies a coveted frond tip position — among the rarest land sites on Palm Jumeirah — with unobstructed views of Bluewaters Island, and the Dubai Marina skyline. With most of the island already developed, prime land opportunities have become increasingly scarce, fueling demand from developers and ultra-high-net-worth individuals (UHNWIs). Read: GEMS to launch UAE’s ‘most expensive’ school: Here’s how much…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.German prosecutors have closed their criminal investigation into former DWS chief executive Asoka Wöhrmann over greenwashing allegations, opting not to press charges in the wake of fines for Deutsche Bank’s asset management arm in the US and Germany.Frankfurt’s public prosecutor said that Wöhrmann’s lack of previous convictions and the fact that he left DWS “immediately after the greenwashing allegations became known” were key factors in the decision.“Furthermore, the accused is no longer active in the capital markets sector,” they added. Wöhrmann now…
Image: Getty Images Gold prices rose on Tuesday as the conflict between Israel and Iran prompted investors to seek refuge in safe-haven assets, as they also await the upcoming US Federal Reserve policy meeting. Spot gold was up 0.1 per cent to $3,386.29 an ounce, as of 1203 GMT. US gold futures fell 0.4 per cent to $3,404.90. Israel’s attacks on Iran have broadened its conflicts in the region to a level that poses a global threat, Jordan’s King Abdullah said in a speech in the European Parliament on Tuesday. US President Donald Trump said he wanted a “real end”…
Stay informed with free updatesSimply sign up to the German economy myFT Digest — delivered directly to your inbox.Germany’s reforms aimed at persuading workers to retire later do not go far enough to ease the fiscal strain of a rapidly ageing workforce, the Bundesbank has warned.Chancellor Friedrich Merz’s plan to introduce tax incentives for pensioners who keep working are “likely to have only a limited effect” in a country where early retirement is widespread, the central bank said.It pointed out that Merz was not scrapping existing financial incentives that encourage early retirement. “Key pension policy levers to address the demographic…
This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersHello and welcome to Energy Source, coming to you from Washington, where the chief executives of some of the largest energy companies in the world met on Monday to discuss how the west can win the artificial intelligence race.ExxonMobil’s Darren Woods, BP’s Murray Auchincloss and Occidental Petroleum’s Vicki Hollub discussed their plans to build the energy infrastructure required to power data centres. Chris Wright, the…
Stay informed with free updatesSimply sign up to the Climate change myFT Digest — delivered directly to your inbox.Norway has launched the world’s largest full-scale operation of industrial carbon capture and storage, ploughing billions of dollars of subsidies into the venture to trap the emissions of highly polluting products such as cement.The first shipment of carbon dioxide left Heidelberg Materials’ plant in Brevik in southern Norway this month by ship, and will be injected in reservoirs under the North Sea in August by the Northern Lights consortium of oil groups: Equinor, Shell and TotalEnergies.The cost of the Longship project for…
Simmering trade wars have created a sort of stop-and-start economy — and the latest snapshot of retail sales in May underscores the threat to U.S. growth. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A Labour donor at the centre of an alleged cronyism scandal has been given the top role at Secure Trust Bank. Ian Corfield, who stepped down as a civil servant at the Treasury in November last year, will take up the role as chief executive designate at Secure Trust later this month before assuming the permanent role in August, the bank said in a statement on Tuesday.Corfield’s exit from Whitehall followed intense criticism of the government over its close ties to big donors.…
The euro trails the U.S. dollar and gold for global central reserves, and European Central Bank President Christine Lagarde described how to change it. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Packaged food company Kraft Heinz has pledged to strip artificial dyes from all US products, but a year later than federal regulators envisioned, as the Trump administration clamps down on synthetic ingredients. The company said it will remove all artificial colours from its US portfolio before the end of 2027. The dyes are found in certain beverage and dessert brands such as Kool-Aid drinks, Jell-O gelatin and Jet-Puffed marshmallows, Kraft Heinz said. The pledge comes less than two months after the Food…