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How the Nakheel-Meydan merger will shake up Dubai's real estate market

The merger between Nakheel and Meydan – two of Dubai’s largest developers – under the Dubai Holding umbrella will make the companies more efficient and better positioned to capitalise on the soaring demand for real estate in the emirate, property experts said. Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced the move on Satu...


Gold set to hit $2,300 by Sept end despite selling pressure

In the near term, gold price may consolidate in an upper-end range


UnitedHealth says advanced over $2 billion in payments to providers

(Reuters) -UnitedHealth Group said on Monday it has advanced payments of over $2 billion so far to provide assistance to healthcare providers, financially affected following a cybersecurity attack on its technology unit, Change Healthcare. The company said it will start releasing its medical claims software on Monday and it will become available to "thousands of customers" over the next several


Ben & Jerry's owner Unilever to spin off ice cream arm

British consumer goods giant Unilever announced Tuesday that it will separate its ice cream unit, whose top-selling products include Ben & Jerry's and Magnum, as a standalone business. It added: "After separating Ice Cream and implementing the productivity programme, Unilever will have a structurally higher margin."


Ben & Jerry's maker Unilever to spin off ice cream unit, cut 7,500 jobs

(Reuters) -Unilever plans to spin off its ice cream unit, home to popular brands such as Magnum and Ben & Jerry's, into a standalone business, as the consumer goods group announced a new cost-savings programme on Tuesday that would cut 7,500 jobs. The spin off will begin immediately and is expected to complete by the end of 2025, the London-listed company said. Unilever aims to deliver


Philippines sees up to $6 billion of investments in casino sector in next 5 years

By Neil Jerome Morales MANILA (Reuters) - Foreign and domestic firms are expected to invest much as $6 billion in the Philippines' casino sector in the next five years, the head of its gaming regulator said, bolstering its status among Asia's top gambling destinations as competition increases. At least one new casino-resort will open every other year including in areas outside Manila like Clark,


US IRS chief sees workforce topping 100,000 within three years

By David Lawder WASHINGTON (Reuters) - Internal Revenue Service Commissioner Danny Werfel said on Monday that the tax agency will need to boost its workforce to over 100,000 people over the next three years to achieve its modernization, service and enforcement goals and additional funding will be needed to maintain that extra capacity. Werfel told reporters on his first anniversary in the IRS'


Cisco Closes $28 Billion Splunk Deal Without Antitrust Drama

At a time when many large mergers are being blocked or delayed by regulators, Cisco Systems Inc. took just six months to close its $28 billion acquisition of Splunk.


Bloomberg launches new Murban Crude Oil Index

Murban futures contract continues to grow in stature, trading alongside Brent and WTI


Adnoc signs second long-term heads of agreement for Ruwais LNG project

Project will leverage the latest technologies and AI tools to lower emissions and drive efficiency


Adnoc signs 15-year LNG supply agreement with Germany’s Sefe

Adnoc has signed a 15-year agreement with a subsidiary of German energy company Sefe (Securing Energy for Europe) for the delivery of 1 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG). The LNG will primarily be sourced from Adnoc’s low-carbon Ruwais LNG plant, which is currently under development in Al Ruwais Industrial City,...


Unilever to Separate Ice Cream Unit And Cut 7,500 Jobs

Unilever Plc plans to separate its ice cream business that includes brands such as Ben & Jerry’s as Chief Executive Officer Hein Schumacher streamlines the UK consumer-goods conglomerate by cutting 7,500 jobs.


Australia's Boral urges shareholders to reject Seven Group's $1.3 billion offer

By Scott Murdoch and Roushni Nair (Reuters) -Australia's Boral on Tuesday recommended investors reject its largest shareholder Seven Group Holdings' A$1.9 billion ($1.25 billion) offer for the company claiming it undervalues the building products group. Seven Group, controlled by billionaire Kerry Stokes and his family, already owns nearly 72% of Boral and had launched a bid last month to


My Dubai Salary: ‘I earn Dh38,000 a month as a financial controller’

Venugopal Somani currently works as a financial controller with a high-net-worth family office in Dubai but is preparing to establish his own consulting firm, providing accounting, auditing and taxation services. The 36-year-old Indian, who has been in the UAE for more than 10 years, wants to open his own company to avoid being financially dependen...


Barings Sues Corinthia, Ian Fowler Over Private Credit Defection

Investment manager Barings sued Corinthia Global Management and former employees Ian Fowler and Kelsey Tucker after the upstart private credit firm poached more than 20 employees in one of the largest team lifts at an alternative asset manager in recent years.


Tata Steel brings forward UK coke ovens closure

Indian-owned Tata Steel UK said Monday that it would shut down coke ovens at its Port Talbot steelworks in south Wales starting this week -- months earlier than previously announced. Tata had said in January that it was planning to shut the coke ovens and two high-emission blast furnaces in Port Talbot, the biggest steelworks in the UK, leading to the loss of up to 2,800 jobs in the Welsh town.


Dairy firm Almarai to invest over $4.8 billion under five-year plan

Under the strategy, nearly seven billion Saudi riyals will be earmarked for poultry expansion


Old-Guard Car Stocks Are Hot Again as EV Revolution Sputters

The Big Three are back, at least in the eyes of investors.


Exclusive-Fidelity International plan to cut 16% of China fund unit jobs, sources say

By Selena Li and Xie Yu HONG KONG (Reuters) -Fund manager Fidelity International (FIL) is planning to lay off 20 people at its main China unit, two sources familiar with the matter said, a reduction that coincides with a downturn in China's markets and as the firm cuts staff all over the world. The cuts at FIL's wholly-owned China fund unit, which currently employs 120 staff, is equivalent to


Hong Kong’s Greater Bay Airlines CEO Plans to Step Down by April

Hong Kong carrier Greater Bay Airlines Co.’s Chief Executive Officer Stanley Hui is preparing to step down, according to people familiar with the matter.


Nippon Steel pledges to move US HQ to US Steel's Pittsburgh

TOKYO (Reuters) - Nippon Steel would move its U.S. headquarters to Pittsburgh where its acquisition target U.S. Steel is based if the deal goes through, an executive said, adding to the pledges from the Japanese steelmaker to secure the transaction. Nippon Steel's proposed $15-billion takeover of U.S. Steel has drawn sharp criticism in the United States where President Joe Biden said last week


BOJ Governor Ueda's comments at news conference

(Reuters) - The Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus. The shift makes Japan the last central bank to exit negative rates and ends an era in which policymakers around the world sought to prop up growth through cheap


Trump Says Posting $454 Million Bond in NY Fraud Case ‘A Practical Impossibility’

Donald Trump said he reached out to the world’s biggest insurance companies to seek help in arranging an appeal bond covering the $454 million verdict against him in New York’s civil fraud suit, and none would take his real estate as collateral. They all want cash and Trump says he doesn’t have enough.


Tencent Music beats quarterly revenue estimates

(Reuters) - China's Tencent Music Entertainment Group beat fourth-quarter revenue estimates on Tuesday, driven by growth in paid subscription on its Spotify-like music streaming platform. The audio entertainment platform reported revenue of 6.89 billion yuan ($957.02 million) for the fourth quarter. Analysts on average had expected revenue of 6.71 billion yuan, according to LSEG data. ($1 =


United's string of scary safety events likely has nothing to do with Boeing

While the 737 Max fallout has led to heightened scrutiny of Boeing planes, recent safety events at United could be due to problems at the airline.


Sam Altman says he thought Elon Musk would have 'more empathy' for OpenAI's big dreams because it 'wasn't that long ago Elon was crazily talking about launching rockets'

OpenAI is now facing a lawsuit from Musk, a former cofounder. Musk accused OpenAI of violating its nonprofit mission when it partnered with Microsoft.


Telecom Italia Eyes €1 Billion Asset Sales to Speed Debt Cutting

Telecom Italia SpA may sell assets worth about €1 billion ($1.1 billion) in a bid to further reduce its debt and potentially remunerate investors, people familiar with the matter said.


A major student-loan company is 'impeding' borrowers' debt cancellation and 'mishandling' their monthly bills, Elizabeth Warren says. She wants its CEO to face Congress.

Since student-loan payments resumed, borrowers serviced by MOHELA have faced a range of repayment and debt relief errors. Sen. Warren wants answers.


United Plane Incidents Prompt CEO to Launch Safety Review

The head of United Airlines Holdings Inc. told customers that the carrier is reviewing a series of recent mishaps involving its planes, promising any lessons learned would “inform our safety training and procedures” across the company.


AstraZeneca to Buy Fusion Pharma for Up to $2.4 Billion

AstraZeneca Plc agreed to buy Fusion Pharmaceuticals Inc. for as much as $2.4 billion as it seeks to transform cancer treatment by replacing traditional methods like chemotherapy with more targeted approaches.


Ferrari Sued for Failing to Fix ‘Life-Threatening’ Brake Defect

Ferrari NV was accused in a US lawsuit of failing to fix a “dangerous safety defect” with the brakes in some of its luxury sports cars despite issuing multiple recalls.


Elon Musk says everyone should 'move on' from focusing on racism

During Elon Musk's interview on "The Don Lemon Show," the Tesla CEO said society blames "a lot of things" on racism. "I think we need to move on."


BOJ Governor Ueda's comments at news conference

(Reuters) - The Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus. The shift makes Japan the last central bank to exit negative rates and ends an era in which policymakers around the world sought to prop up growth through cheap


BOJ Governor Ueda's comments at news conference

(Reuters) - The Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus. The shift makes Japan the last central bank to exit negative rates and ends an era in which policymakers around the world sought to prop up growth through cheap


UAE: NMC, DIB reach ‘out-of-court’ settlement of all litigations

The London-listed NMC Healthcare was embroiled in the financial scandals, leading to its collapse and removal of the listing from the bourse


Signa Creditors Back Restructuring Plans Dangling 30% Payout

Creditors of the two main property units in Rene Benko’s Signa conglomerate backed plans to sell off assets as part of a restructuring that’s expected to recoup about 30% of their money.


Reckitt Chief Defends Safety of Baby Formula, Will Fight Verdict

Reckitt Benckiser Group Plc’s chief executive officer vowed to fight to overturn a verdict that blamed one of the company’s Enfamil formulas for the death of a premature baby.


Saudi's Almarai to invest $4.8bn until 2028 to expand operations

Saudi Arabia’s Almarai, the Middle East’s largest dairy company, plans to invest more than 18 billion Saudi riyals ($4.8 billion) until 2028 to boost its existing businesses and expand into new segments. The plan includes 7 billion riyals for poultry expansion and 5 billion riyals for strengthening food categories such as dairy, juice and bakery, t...


Ben & Jerry's maker Unilever to spin off ice cream unit, cut 7,500 jobs

(Reuters) -Unilever plans to spin off its ice cream unit, home to popular brands such as Magnum and Ben & Jerry's, into a standalone business, as the consumer goods group announced a new cost-savings programme on Tuesday that would cut 7,500 jobs. The spin off will begin immediately and is expected to complete by the end of 2025, the London-listed company said. Unilever aims to deliver


Abu Dhabi Chamber, ADGM strengthen strategic partnership

Pact aims to support businesses and investment ecosystem


BOJ ends negative rate policy

TOKYO (Reuters) - The Bank of Japan (BOJ) on Tuesday decided to end its negative interest rate policy, marking a landmark shift away from its huge stimulus programme. It was Japan's first interest rate hike since 2007. BOJ Governor Kazuo Ueda is expected to hold a news conference at 3:30 p.m. (0630 GMT) to explain the decision. Under its negative interest rate policy, the BOJ had applied a 0.1%


Sam Altman says he could do with more collaboration and less of Elon Musk tweeting a silver medal at Jeff Bezos to flex his wealth

Altman cited an old X post by Musk where he sent Jeff Bezos a silver medal emoji after surpassing him as the world's richest person in 2021.


China keeps on finding ways to hurt USA Inc.

Beijing is inflicting pain on US firms again after a report said local EV makers were asked to ditch chips from the US in favor of domestic ones.


Reddit CEO Steve Huffman defends his $193 million compensation package

Reddit CEO Huffman discussed his compensation package, made up of stock and salary, in a video Q&A on the forum.


AMLO Prepares to Take Over Vulcan Property in Mexico’s Mayan Riviera

The Mexican government is preparing to take control of a quarry and port owned by Vulcan Materials Co. on the nation’s Caribbean coast after years of negotiations failed to produce a deal to buy the property, according to people familiar with the plans.


UAW says workers at VW Tennessee plant file for union election

By David Shepardson and Joseph White WASHINGTON (Reuters) -Workers at Volkswagen's Chattanooga, Tennessee, assembly plant are seeking an election to join the United Auto Workers union, setting up a critical test for UAW President Shawn Fain's unprecedented campaign to expand the union's reach to foreign-owned automakers in the southern United States. The UAW said a supermajority of eligible


Mind your money: A guide to financial planning for HNWIs and UHNWIs

Professionalised management prioritises long-term wealth preservation and efficient international growth


Sam Altman said he'd 'pick a different name' for OpenAI if he could go back in time

Sam Altman said on Lex Fridman's podcast that though OpenAI might not be totally open-source, it's open in other ways.


Nippon Steel pledges to move US HQ to US Steel's Pittsburgh

TOKYO (Reuters) - Nippon Steel would move its U.S. headquarters to Pittsburgh where its acquisition target U.S. Steel is based if the deal goes through, an executive said, adding to the pledges from the Japanese steelmaker to secure the transaction. Nippon Steel's proposed $15-billion takeover of U.S. Steel has drawn sharp criticism in the United States where President Joe Biden said last week


US IRS chief sees workforce topping 100,000 within three years

By David Lawder WASHINGTON (Reuters) - Internal Revenue Service Commissioner Danny Werfel said on Monday that the tax agency will need to boost its workforce to over 100,000 people over the next three years to achieve its modernization, service and enforcement goals and additional funding will be needed to maintain that extra capacity. Werfel told reporters on his first anniversary in the IRS'