Author: Arabian Media staff
Stay informed with free updatesSimply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox.China is accelerating efforts to build a series of giant banks and brokerages as it pushes to consolidate the financial sector and make it better able to weather economic shocks.Nearly one in 20 of the country’s rural banks have shut their doors over the past year, according to data from China’s National Financial Regulatory Administration, in a sweeping revamp of the banking sector in the aftermath of a years-long property crisis. In separate data compiled by S&P Global Ratings, mergers…
Image credit: Getty Images The Sultanate of Oman is poised to deliver 62,800 new residential real estate units by 2030, with 5,500 set to come to market this year, in line with the country’s strategic vision, according to new insight from leading real estate and advisory consultancy, Cavendish Maxwell. According to the firm’s Oman Real Estate Market Performance Report, released during Oman Design and Build Week, Oman will also add 5,800 hotel rooms over the next five years, with 35 new hotels and resorts scheduled to open by 2030. This will boost the current hotel inventory by around 25 per…
Graduates, banks and private equity firms are locked in a tussle for talent that inflicts pain all round Source link
City-state residents who are digitally native and naturally compliant with authority are especially vulnerable to fraud Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The chief executive of Europe’s largest shipbuilder, Fincantieri, has called on European countries to scale up their underwater defence capabilities amid rising threats and the retreat of the US.“The Mediterranean has always been populated by Russian and US submarines, it’s up to us Europeans now to take responsibility for our underwater defence,” Pierroberto Folgiero told the Financial Times. “If European countries are going to spend more on defence, we should spend better,” he added. The Italian state-controlled shipbuilder announced last week that…
When Lars Fruergaard Jørgensen came down the grand circular staircase at Novo Nordisk’s headquarters last week, employees gathered to give the drugmaker’s ousted chief executive a standing ovation. The Danish company’s controlling shareholder, the Novo Nordisk Foundation, had pushed him to step down after the share price fell more than 50 per cent in a year, and its bestselling obesity and diabetes drugs Wegovy and Ozempic lost ground to US rival Eli Lilly. But for many employees, Jørgensen’s understated approach embodies corporate values that prize openness and a long-term view. Now, Novo Nordisk’s board, led by chair Helge Lund, and Lars Rebien Sørensen,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Health service leaders in England are braced for chancellor Rachel Reeves to increase day-to-day NHS spending in real terms by about just 2 per cent in the Spending Review next month. In the October Budget, day-to-day health spending for 2025-26 was increased in real terms by 3.8 per cent. However, the sector is preparing for a less generous funding boost over the next three years. “We’re expecting the CSR [comprehensive spending review] settlement to be bad for public services including for the NHS,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Ireland’s government will this week present plans to ban trade in goods with Israeli businesses in occupied Palestinian territories, becoming the first EU country to take such a step.Simon Harris, foreign and trade minister, said the planned legislation came in response to an escalation in what he called the country’s “war crimes” in Gaza.Harris will on Tuesday launch the process of drafting legislation, days after a majority of EU states voted to review the bloc’s trade deal with Israel. The move comes…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Swiss pharmaceutical company Roche is planning to move a new antibiotic into late stage clinical trials after early studies showed it had potential to tackle a common superbug that has become resistant to other treatments. If successful, it would be the first new class of antibiotic capable of killing acinetobacter or any other “Gram-negative” bacteria to be developed for more than fifty years. This type of bug has a structure that makes it more difficult to treat.Roche will launch a phase 3 trial for…
This article is an on-site version of our Europe Express newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday and fortnightly on Saturday morning. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. Donald Trump has said he will delay his threat of 50 per cent tariffs on the EU and extend trade negotiations until July 9, following a call with European Commission president Ursula von der Leyen last night.Today, our Brussels team reports on Spain threatening its EU allies in a bid to force them to support recognition of its…