Author: Arabian Media staff
Image: Getty Images/ For illustrative purposes Total public spending by the six Gulf Cooperation Council (GCC) countries is expected to reach $542.1bn in the 2025 financial year, according to data released by the GCC Statistical Center (GCC-Stat). According to a report published by the state news agency, WAM, the six member states — the UAE, Saudi Arabia, Oman, Kuwait, Qatar, and Bahrain — have largely projected higher public expenditures compared to 2024, directing increased funds toward infrastructure completion and targeted economic sector growth in line with long-term development strategies. GCC-Stat data shows that government revenues across the bloc are forecast…
Novo Nordisk’s annual report contains an interesting footnote on its key drug, Ozempic, which last year accounted for $19 billion of sales worldwide. Source link
The world’s largest meatpacker, JBS, listed in New York on Friday, marking a dramatic turnaround for the Batista brothers Source link
Stay informed with free updatesSimply sign up to the Technology sector myFT Digest — delivered directly to your inbox.The writer is author of ‘How Progress Ends: Technology, Innovation, and the Fate of Nations’ and an associate professor at Oxford university Each time fears of AI-driven job losses flare up, optimists reassure us that artificial intelligence is a productivity tool that will help both workers and the economy. Microsoft chief Satya Nadella thinks autonomous AI agents will allow users to name their goal while the software plans, executes and learns across every system. A dream tool — if efficiency alone was enough…
Brussels will this week set out legal measures to put a complete stop to Russian fossil fuel imports into the EU.But it has delayed plans to wean the bloc off a smaller but far more tricky reliance: Russian nuclear technology.Since Moscow’s full-scale invasion of Ukraine, EU countries have paid more than €200bn to Russia for fuel. Coal and oil imports have been sanctioned and gas should be phased out by 2027. Nuclear fuel accounted for only about €700mn of the €22bn paid to Russia in 2024, according to the think-tank Bruegel. But officials have warned that the risk to EU…
Stay informed with free updatesSimply sign up to the Management consulting myFT Digest — delivered directly to your inbox.The Financial Times is now compiling its ninth annual ranking of the UK’s Leading Management Consultants, in conjunction with its research partner, Statista.The industry is facing an uncertain time. Many public sector clients are cutting back as the government grapples with its finances, while private sector clients are dealing with an uncertain economic environment. Consultants are also at the front line of the corporate shift to AI. This has the potential to increase demand from clients and improve their own productivity in…
Stay informed with free updatesSimply sign up to the EU business regulation myFT Digest — delivered directly to your inbox.Proposed EU safety rules for regulating chemicals could derail the development of a domestic critical minerals sector key to the energy transition and increase dependence on China, industry groups have said. The intervention by the bodies — whose members include miners Anglo American, Rio Tinto and Vale as well as trading house Glencore — comes as the EU is revising its Reach chemicals regulations to improve safety and protect the environment.The European Commission is expected to formally propose new rules later…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.JPMorgan’s European chief is planning to relocate from London to New York, while keeping his role running the bank’s Europe, Middle East and Africa business. Filippo Gori, who is also JPMorgan’s co-head of global banking, moved to the UK from Hong Kong last year after being promoted to the dual role. But the Italian banker is now in the process of leaving for New York, people familiar with the situation told the Financial Times. One of the people said Gori would spend…
This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. The University of Michigan consumer sentiment index, released Friday, improved much more than expected, ending a 5-month downward trend. There was improvement across wealth levels, political affiliations, age, and sub-indices ranging from perceptions of the economy to expectations for the future. It seems that consumers are growing less worried about tariffs and mass deportations. Or thinking they won’t actually happen. Trump does follow a…
What happens when the world’s bestselling toy car brand meets one of the Middle East’s most influential streetwear labels? You get a high-octane fusion of nostalgia, identity, and style. In a first-of-its-kind regional collaboration, Hot Wheels, the iconic franchise from Mattel, has teamed up with B-Hype, the Dubai-born streetwear brand known for its retro flair, cultural attitude, and celebrity drops. Launched in May, the limited-edition Hot Wheels x B-Hype collection reimagines the high-speed spirit of Hot Wheels through a fashion-forward lens, marking a milestone in both brands’ evolution. This collaboration is more than a merch drop. For Mattel, it is…