Author: Arabian Media staff
Stay informed with free updatesSimply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox.The EU is preparing sanctions against two Chinese banks that allegedly enabled banned trade with Russia, the first attempt by Brussels to target a third-country lender for supporting Moscow’s full-scale invasion of Ukraine.The curbs were included in the European Commission’s latest package of measures, four officials with knowledge of the plans told the Financial Times. They require the unanimous support of EU member states to be adopted.Such a step would mark a significant escalation in the bloc’s efforts to punish China…
The UAE’s franchise industry has become a significant contributor to the national economy, with annual revenues exceeding AED100bn ($27.2bn) and an annual growth rate of 15 per cent. Regionally, the MENA market is valued at more than AED120bn ($32.7bn), while globally the sector generates more than AED6tn ($1.63tn) and supports over 19m jobs through 2m franchisees. In celebration of World Franchise Day on June 11, the Emirates Franchise Association, affiliated with the Abu Dhabi Chamber of Commerce and Industry, hosted a high-profile forum under the theme “Franchise Unites Us and Innovation Leads Us.” UAE franchises pass $27.2bn in revenue The…
Before Wall Street takes the low reading on U.S. inflation in May at face value, investors and economists want to see the result of the producer-price index for May. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Dystopian thriller “Soylent Green” ends with the hero discovering that the mystery food that sustains New York’s citizens, and whose name the movie bears, is actually made of human beings. Reports that Meta Platforms may acquire 49 per cent of artificial intelligence company Scale AI for $15bn illustrate a similar plot twist. AI, too, is people.So far, building AI has mostly been an exercise in managing scarce resources of the inanimate kind. Top-end chips, for example, are in short supply; power constraints…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Technologies to generate green electricity follow one of two trajectories. Some get cheaper, such as solar panels, which are small, modular and factory produced. Others, like nuclear plants, tend instead to be plagued with overruns and delays. Nonetheless, the UK’s decision to press ahead with a new nuclear project, Sizewell C, still makes sense. Much has been made of the project’s potential cost. Hinkley Point C, its precursor, has a dismal record. It will now be ready at the end of the decade,…
“We currently have a net worth of about $500,000 to $600,000.” Source link
GM’s stock climbs as the carmaker’s $4 billion investment to expand existing capacity is viewed as a better than building new plants, one analyst said. Source link
Social Security’s 2026 COLA is expected to be slightly below average as data reliability is called into question. Source link
Stay informed with free updatesSimply sign up to the UK energy myFT Digest — delivered directly to your inbox.Great British Energy, the government’s flagship state-owned energy company, has been handed the £2.5bn bill to support a new generation of small nuclear power plants, cutting the amount it has to spend on wind, solar and other technologies. Rolls-Royce’s efforts to develop Britain’s first small modular reactors will be funded by GB Energy’s £8.3bn budget over this parliament, according to measures announced in Wednesday’s spending review. Until now it had been unclear which part of the government’s budget would cover the funding for the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.In the cult film The Princess Bride, the hero Westley tricks a villain, Vizzini, into killing himself in a battle of wits. Vizzini has to choose between two cups of wine, one of which Westley says is poisoned. In fact, Westley’s cup is also poisoned, but he survives: he had spent years building up immunity to the toxin. Through long and careful preparation, Westley won the battle of wits long before it had begun.Substitute Xi Jinping for Westley and Donald Trump for…