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Leon Cooperman, the 82-year-old billionaire chairman and chief executive of Omega Advisors, doesn’t have a particularly optimistic view of stocks. Source link
flydubai, the Dubai-based carrier, has announced the launch of direct flights to Damascus starting June 1, 2025. Read-Sky’s the limit: flydubai announces record-breaking annual results According to a WAM report, flights to Damascus International Airport (DAM) will operate daily from Terminal 2 at Dubai International Airport (DXB). “We are very pleased to be the first national carrier to resume flights to Syria after 12 years of halted operations. Damascus holds significant cultural and historical importance in the region, and we are excited to serve the city again with a direct daily service. This move highlights our commitment to supporting the…
Legendary Emirati rally driver Mohammed Ben Sulayem has engineered a remarkable turnaround in the fortunes of Fédération Internationale de l’Automobile (FIA), as the world governing body for motorsports reported a return to profitability after five years of losses. For 2024, the FIA had operating result of €4.7 million (US$5.3 million), its strongest financial return in almost a decade. When Ben Sulayem took over as President of the FIA in 2021, the body had debts of over €20 million (US$22.5 million) and operating loss of €24 million (US$27.2 million). The operating result marks a significant improvement from 2023, with operating income…
Image credit: Getty Images Gold prices rose to a two-week peak on Thursday as investors leaned toward the safe-haven asset amid mounting concerns over the US government’s growing debt and soft demand for 20-year Treasury bonds, highlighting low appetite for US assets. Spot gold gained 0.8 per cent to $3,340.53 an ounce as of 0300 GMT, after hitting its highest level since May 9. Read-Gold set for worst drop in six months: Find out why US gold futures rose 0.9 per cent to $3,341.90. The dollar is hovering near a two-week low hit in the previous session, making greenback-priced gold…
The northern emirate, known for its 23 km of coastline and natural landscapes, is experiencing increased investor interest as neighbouring property markets reach maturity and price points that exclude many buyers. In an exclusive interview with Arabian Business, Andrew Cummings, Head of Residential Agency at Savills Middle East, attributes the growth to a broader trend of investment focus shifting to the northern emirates. Umm Al Quwain’s rising market potential “The renewed focus on northern emirates as investment hotspots is playing a key role, particularly with the rise of Ras Al Khaimah following the Wynn announcement. Umm Al Quwain is emerging…
Image: ADNOC The Abu Dhabi National Oil Company (ADNOC) has signed framework agreements worth Dhs6bn ($1.64bn) with 12 UAE-based manufacturers for the local production of critical industrial equipment, as part of the country’s “Make it in the Emirates” initiative. The long-term agreements cover the manufacturing of cables and pressure vessels in the UAE, potentially creating up to 1,300 skilled private-sector jobs. ADNOC said the deals will help ensure availability of key equipment across its value chain, reduce delivery times, and mitigate global supply chain risks. The agreements were signed at the “Make it in the Emirates” forum currently taking place…
Image: Getty Images/ For illustrative purposes Bain Capital has unveiled hscale, a dedicated hyperscale data centre platform. The announcement marks a significant milestone in Bain Capital’s broader EMEA digital strategy, which began with its October 2024 acquisition of AQ Compute. With a leadership team boasting a track record of delivering nearly 7 gigawatts of data centre capacity across EMEA and APAC, hscale is primed to meet soaring demand from hyperscalers driven by the surge in AI and cloud computing. Spearheading the venture is CEO Oliver Schiebel, former head of Mainova WebHouse, supported by a team of industry veterans with deep…
From a struggling family tea estate to an innovative climate venture, Alt Carbon has raised $12 million in a seed round as it plans to scale its carbon dioxide removal work in the South Asian nation. The climate-tech startup, which locks away carbon for thousands of years through enhanced rock weathering on farmlands, attracted investment led by Lachy Groom, the co-founder of the robotics AI company Physical Intelligence. The journey began May 2020 with a bittersweet homecoming. Siblings Shrey and Sparsh Agarwal drove 16 hours from the eastern state of Kolkata to Darjeeling — a city known for tea farming…
Clothing retailer says it could ‘gently and sparingly’ raise some prices Source link
Walmart Inc. plans to cut around 1,500 jobs, the Wall Street Journal reported on Wednesday, as the big-box chain tries to manage costs and accelerate decision-making amid broader efforts by retailers and consumers to navigate inflation and tariffs. Source link