Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Eurozone inflation fell below the European Central Bank’s 2 per cent target in May for the first time in seven months, as it considers a further cut to interest rates this week.May’s annual inflation reading of 1.9 per cent was down from April’s 2.2 per cent figure and below analyst expectations of 2 per cent in a Reuters poll.The euro slipped in immediate trading after the data publication on Tuesday, down 0.3 per cent on the day at $1.141.The ECB will update…
Image credit: Getty Images In preparation for the Hajj season of 1446 AH, Saudi authorities have rolled out a series of innovative services and infrastructure upgrades aimed at improving safety, comfort, and convenience for millions of pilgrims expected to perform the annual pilgrimage. Read-Hajj 2025 preparation: The 15 major steps Saudi has taken From advanced cooling technologies at the Grand Mosque to AI-powered smart tents and streamlined logistics, Saudi is combining tradition with innovation to ensure a spiritually enriching and smooth experience for all. World’s largest cooling system activated at Grand Mosque To maintain a comfortable environment amid high summer…
The largest private equity group is sticking to a fee-based approach, while Apollo and KKR embrace insurance-powered models Source link
Image: Supplied Eid Al Adha and the summer months continue to be high-impact periods for the UAE’s tourism sector. While traditionally driven by peak outbound and inbound demand, 2024 is seeing a shift in how travellers engage with destinations. In this interview, Samir Hamadeh, CEO of Elevate DMC, discusses evolving traveller behaviour — from luxury family getaways and immersive cultural experiences to the rising appeal of staycations and short-haul escapes. He also shares how the company is curating seasonal travel to align with regional trends and the UAE’s ambitious tourism agenda. How does Eid Al Adha influence inbound travel demand…
Accounting groups hope to emulate previous profit gains from audits of companies’ ESG metrics Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Swiss bank Julius Baer is stepping up a cost-saving drive to target SFr130mn ($159mn) in cuts by 2028, as it seeks to engineer a turnaround under new leadership. In a strategy update on Tuesday, the Zurich-based lender and wealth manager announced the new 2028 target, in addition to SFr110mn of cuts by the end of this year that it previously announced in February. Julius Baer said the new cost target would be achieved by “streamlining non-personnel expenses”, as well as focusing on…
One scoop to start: Elon Musk’s xAI is launching a $300mn share sale that values the group at $113bn, as the world’s richest man returns to his business empire and the race to develop artificial intelligence.A second scoop: Merck has held talks over a more than $3bn acquisition of Swiss biotechnology group MoonLake Immunotherapeutics, as the US pharmaceutical company seeks to replenish its drug pipeline.And PE’s trinity drifts apart: Blackstone, KKR and Apollo are pursuing sharply different models after decades in which the private equity titans generally moved in lockstep, writes DD’s Antoine Gara. More on that in tomorrow’s newsletter.Welcome…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldBill Ackman has a message for the US taxpayer: don’t be so greedy. The hedge fund mogul is an investor in Fannie Mae, the government-sponsored mortgage finance titan that, along with twin Freddie Mac, was bailed out during the financial crisis. Now re-privatisation of the duo may be on the agenda, Ackman wants the government to sacrifice some of what’s due. Fannie and Freddie’s job as private companies was to buy, insure and repackage mortgages, blessing them on the way…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The global economy is heading into its weakest growth spell since the Covid-19 slump as Donald Trump’s trade war saps momentum in leading economies including the US, according to OECD forecasts. The organisation slashed its outlook for global output and the majority of the G20 leading economies on Tuesday as it warned that agreements to ease trade barriers would be “instrumental” in reviving investment and avoiding higher prices.Global growth is expected to be 2.9 per cent in 2025 and 2026, the OECD said…
Image credit: WAM/Website Emirates will resume flights to Damascus on July 16, 2025, marking its return to the Syrian capital for the first time since services were suspended in 2012. The relaunch follows a comprehensive operational evaluation conducted in coordination with the UAE General Civil Aviation Authority (GCAA). Read-Inside airports in UAE: Facial recognition check-ins, 12-minute departures The airline will initially operate three weekly flights on Mondays, Wednesdays, and Sundays. From August 2, service will increase to four weekly flights with the addition of a Saturday route. Emirates plans to expand operations to daily service beginning October 26, a WAM…