Author: Arabian Media staff
Paris conference urges international action against synthetic organisms that could disrupt critical ecosystems Source link
Credit: Getty Images Oil prices jumped more than $4 a barrel on Friday, hitting their highest price in almost five months after Israel struck Iran. Brent crude futures jumped $4.60, or 6.63 per cent, to $73.96 a barrel after hitting an intraday high of $78.50, the highest since January 27. US West Texas Intermediate crude was up $4.99, or 7.33 per cent, at $73.03 a barrel after hitting a high of $77.62, the loftiest since January 21. Friday’s gains were the largest intraday moves for both contracts since 2022 after Russia invaded Ukraine, causing energy prices to spike. Israel said it targeted Iran’s nuclear facilities, ballistic missile factories…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Back in his college days, UBS chair Colm Kelleher used to enjoy playing Diplomacy, a negotiation-based board game that is notorious for ruining friendships. Those old skills might come in handy as his bank fights to avoid being saddled with up to $26bn in new capital requirements.Switzerland’s Federal Department of Finance has proposed a suite of measures to avoid a repeat of the 2023 collapse of Credit Suisse. Central among them, systemically important banks must keep more equity capital free to absorb…
A sudden rise in crude prices driven by a renewed fear of a military confrontation between the US and Iran has caught out bearish traders, forcing many to rethink their near-term outlook for the oil market after a period of falling prices.The price of Brent crude surged 4.3 per cent on Wednesday to close at just under $70 a barrel, the biggest gain since October, as the Trump administration told dependants of American military personnel to leave the Middle East amid rising tensions with Iran over the Islamic republic’s expanding nuclear programme.Oil was roughly flat on Thursday as fears of…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sony Music completed more than $2.5bn in song deals last year, buying up vast catalogues by artists from Queen to Pink Floyd in the face of rising competition from private equity-backed music investment firms.The business has emerged as one of the most acquisitive companies for music rights — an increasingly mainstream investment class — particularly songs by the biggest “legacy” acts. “Catalogue” music is taking up a rising share of music consumption, especially in more developed western markets, as younger generations turn to…
An all-out war between Israel and Iran would pose a serious threat to eastern Mediterranean natural-gas fields — and risk spilling into Europe’s liquefied natural gas supply. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The European Commission’s powerful competition directorate is blocking a push that would allow governments to subsidise the production costs of clean energy technologies, flaring tensions between EU officials enforcing state-aid rules and those working on industry.Teresa Ribera, the EU’s competition commissioner, is refusing to exempt the operating costs of solar panel, wind turbine and battery producers from the bloc’s notoriously strict state-aid regime, said four people with knowledge of the talks.The internal battle highlights the EU’s executive’s struggle to navigate the challenge…
Image credit: Dubai Media Office/Website Dubai’s Roads and Transport Authority (RTA), in collaboration with Keolis MHI and Future Maintenance Technologies (FMT), has unveiled the Automated Rail Infrastructure Inspection System (ARIIS), a cutting-edge AI-driven robotic inspection solution. The deployment of ARIIS marks a major advancement in Dubai Metro’s maintenance capabilities and supports the city’s ambition to be a global leader in artificial intelligence and smart infrastructure. Read-Dubai Metro Blue Line: How will it change commuting in the city The ARIIS system, equipped with LiDAR sensors, lasers, and 3D cameras, autonomously inspects rail tracks and critical infrastructure components without disrupting metro operations.…
Diplomacy is toast; missiles are airborne — and gold, defense stocks and market volatility should be your portfolio priorities. Source link
Stay informed with free updatesSimply sign up to the European banks myFT Digest — delivered directly to your inbox.French bank BPCE has acquired a majority stake in Portuguese lender Novo Banco that values the business at €6.4bn, in one of the largest recent cross-border banking deals in Europe.The US private equity firm Lone Star has sold its 75 per cent stake in Novo Bank to BPCE. The French bank is in discussions with the Portuguese government about buying the remaining 25 per cent of the business. Nicolas Namias, BPCE’s chief executive, told the Financial Times: “This is the biggest operation…