Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.By cancelling the permits of four out of five nickel mining companies operating in Indonesia’s Raja Ampat archipelago, President Prabowo Subianto this month handed a rare win to environmental groups that have long criticised the rapidly growing industry.Prabowo’s intervention followed a report by Greenpeace that said nickel exploitation on three Raja Ampat islands had destroyed more than 500 hectares of forest and caused soil run-off threatening the coral reefs and marine ecosystems that have made the islands a treasured diving destination.But the…
At noon on Friday, Manish Namdar entered the examination hall of Ahmedabad’s BJ Medical College, now converted to a DNA collection room for the next of kin of the more than 250 people who died in the Air India crash a day earlier.Namdar and his family had driven 800km overnight, desperate to see the faces of his 32-year-old daughter Raxa Modha and one-and-a-half-year-old grandson Rudhra, who were on board the Boeing 787-8 Dreamliner that fell on a nearby college student hostel on Thursday. But officials told Namdar the bodies were charred beyond recognition and DNA matches would be needed before…
Stay informed with free updatesSimply sign up to the Technology sector myFT Digest — delivered directly to your inbox.Anne Wojcicki has been declared the winner of a bankruptcy auction for 23andMe, the genetics testing start-up she founded, prevailing over a rival bid from Regeneron Pharmaceuticals. TTAM Research Institute, a non-profit public benefit company also founded by Wojcicki, won the auction with a $305mn bid for the 23andMe assets, which will not come with any company liabilities attached. 23andMe filed for bankruptcy in March after rejecting several go-private offers from Wojcicki in recent years. Regeneron was declared the winning bidder in…
Israel’s attack on Iranian nuclear and military sites on Friday, and the resulting oil-price surge and airline-stock slump, could pose even more obstacles for consumers navigating an already unusual summer travel season. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Swedish billionaires Lisbet and Hans Kristian Rausing, former Conservative politician Penny Mordaunt and heir to JCB construction equipment empire Jo Bamford have all received awards in King Charles III’s birthday honours list.The Rausings — children of the Swedish mogul who made his fortune developing the Tetra Pak food-packaging company — were given a knighthood and a damehood for their services to the arts. Successors to their late father’s multibillion-dollar empire, they are both philanthropists based in the UK. Mordaunt was made a dame…
The software company’s stock logged its seventh postearnings decline in eight quarters, as a boost to the revenue outlook wasn’t enough for Wall Street. Source link
The stock had its second-worst day ever on heavy trading volume, as investors took issue with the way Archer raised money to build more eVTOL aircraft. Source link
In a worst-case scenario, oil prices could surge to $120 per barrel, according to Lazard Geopolitical Advisory. Source link
The necktie — long a popular gift for dads — has been making a comeback as more people return to the office. Source link
The Middle East conflict is impacting a wide range of sectors besides the obvious oil and defense names, as a surge in oil prices can affect consumer behavior in many ways. Source link